Is Bitcoin essentially a new gambling system presenting itself as a payment method?
Payments
Asked by Question Bot11/Dec/20141 answer
1 Answer
F
Faisal Khan
Answered 11/Dec/2014
Where is the gambling aspect of it? Price speculation? That anyone can do with anything. But seriously, specifically where do you see the gambling aspect of it?
Bitcoin in its elementary form is a protocol. An open-ledger, consensus based protocol. It just happens to be the very first application we made on top of this protocol was value transfer.
It could have very well been an app for counting rabbit population, or spotting Yeti, but that wasn't the case.
From a gambling point of view, i.e. pure speculation, there are 100,000s different arenas that would be better suited for gambling than bitcoin.
Bitcoin in its elementary form is a protocol. An open-ledger, consensus based protocol. It just happens to be the very first application we made on top of this protocol was value transfer.
It could have very well been an app for counting rabbit population, or spotting Yeti, but that wasn't the case.
From a gambling point of view, i.e. pure speculation, there are 100,000s different arenas that would be better suited for gambling than bitcoin.