Crypto is a complete gamble and is likely to crash at any second

It’s been said literally since cryptos got any kind of mainstream attention and value.

it's not the same thing as going to the pit games at a casino because every gamble there is -EV but it is the same thing as gambling.

i've been a professional gambler for years and years and have tried to explain this many times to normies who've gotten into crypto and constantly hear "lol this is investing not gambling". as if there was any difference between those two things.

there's a lot of people who've gotten into crypto who have ZERO comprehension of really important concepts if you're going to gamble for a living like bankroll management, what tilt is and how it affects your decision making, what a sample size is and why that's important in determining your rate of return, or even smaller things like how to explain to a landlord that you want to rent without having a salary (and why you aren't a drug dealer), how to explain to women that you're a professional and not an addict, etc.

if you stay in this world for years eventually you will find yourself acknowledging that you gamble for a living now and you will find yourself part of the ultimately pretty small world of professional gamblers. congrats, it's a pretty cool group of people overall.

Technically trading crypto is -EV since you pay fees on your trades.

Wow i love gamblers now

this is intristing. can you tell us more ?
what was your last bet ?
what is your logical thinking and research before placing a bet ?

what are good resources to read to start with ?

They've been saying it since 2009. I guess if you keep repeating that an industry will fall year after year, at one point you'll eventually be right. Like that goldbug faggot Peter Schiff.

They are saying this 4 years in a row at least.
From ppl who know shit about it all the time, and from ppl who just enter/or know little, every fucking dip I hear that. People are stupid and they only buy ATH and sell low, that's why they can't make money.

sounds like the world for me, i'm sold

Okay, grandpa, its time for your nap.

a year ago crypto market was valued at just $20bln and had plenty of room to move up
it is around $550bln today and the question is how far will it go?
i'd say $5-7trln is a reasonable number, which means it is more risky and less profitable to invest now than it was a year ago

-Avoid all comments who start with "I TOLD YOU Veeky Forums"

keep talking

>were people saying this a year ago?
Yes people have been saying this since I first came to biz 2 years ago.

most APs are complete faggots

How do you cash out in uk?

COnvert your shitcoins into BTC and transfer/withdraw it via coinbase.

There's a guy called Deepak in Walthamstow above chicken cottage that will exchange your BTC for cash.

Fuck coinbase - any other methods?

We had trading of tangible goods for other goods
We have trading of fiat for goods/services
We will have trading of digital currency.

People that call it a ponzi or scam are usually boomers or refuse to change.

Not unless you want to withdraw it £10'000 instalments via paypal transfers from Raj.

There's a difference between a company and a slotmachine user.

Will wait for crypto debit card...

Can you recommend any books to learn about this stuff?

Thanks just invested 1 eth

Cashout via coinbase, but be prepared for a future audit and lien on whatever assets or wages you have.

After cryptoScamCoins crashes, and all the scammers run off with their money, people will be rallying the gubberment for justice, and just like those who made money from Bernie Madoffs pyramid scheme, the IRS or your countries government will come calling for the cash you made and want it back to redistribute back to those that got flat out scammed.

damn you're smart i just dumped all of my coins gambling is only for pussies and drug addicts who else with me? please make sure if you have VEN to dump that ASAP it's the ultimate gambler's coin

I trade on betfair exchange everyday, it's the same thing

people were saying this when btc was 1$

That's why you should go all in right now. Buy the dip! Show them bastards!

No not really, when i was explaining smart contracts and what crypto could do in late 2015, they literally said looks promising, ethereum could easily be 100 dollar coin.

now its the opposite, people dont give a shit about the tech and only want the price to pump, which is why ethereum crashes when bitcoin crashes. Tbh they're right, its a way overvalued market.

>the stock market will never crash!

nigga thats not what EV means, you're assuming crypto prices follow a random walk which is far from truth.

Why isn't that money in coins of you have so much faith it it?

Helo thinks so

All in on FUN, thanks for the advice

stocks won't crash until normies are all in

cash levels are still extremely high relative to norms even at all time highs

looooooong way to go, but hey if you think a meltdown is inevitable feel free to place your bets accordinly

I hold all my coins on binance, I like to live life on the edge

But it is though. Make your money now. When the regulators come in its going to be way fucking harder

>crypto is a bubble, it will crash!!!
Ok, Can I see your short position?

Most of them dont even know whats a short.

your gf does though

Paying capital gains tax and they try to come after the realized gains years later?
What kind of cuck would stay in the country at that point.

>kek

Guys, I found a normie outside his natural habitat

technically he is correct in a sense it's a zero sum game minus fees. like forex.

Yes, FUDDERS trying to take advantage of the January dip to get cheaper coins.

Crypto ain't going anywhere. Govt cracking down on ponzi's only shows they legitimize it.

Buy INTO FUD is how you get RICH.

>professional gambler
Either you're a con artist or you got lucky.
No professional gambler wins money in the long term.
t. worked at a casino

Lol sports betting can definitely be profitable

If you know a lot about the subject, you can profit from it. I used to make decent profits with football (soccer) bets. I spent a long time looking at players and team stats

>Worked in casino
>professional gamblers never win
>MY GAMBOLLING REQUIRES SKILL
>Heh you ever had to explain that your not a drug dealer? Heh dumb kid I've been around there block
>Exception to the rule, anecdotal Andy, .01% etc blah blah blah
>I've seen thousands lose
There I had your terrible conversation for you two.
Beat it nerds

Only with insider knowledge, or if you have a bookie that's retarded.
You can't.
Profit from any gambling that is not a con is subject to swings that will eventually drop your networth to zero.
If you think you're winning, you're just getting lucky and being somewhat smart with your money.
All long term gambling ends in bankruptcy. It's just the nature of gambling.
If you've been at a single poker table long enough you'll notice that over the years players just lose all their money, then they have to get bankrolled by a sucker whale to get back in the game, or just quit.
The risk is only very much minimized if you have a gigantic advantage in your risktaking by betting agains much worse players, which is almost impossible in the open.

I made about 3.5k in a month from paddypower and got my account limited whereby I couldn't bet on anything.