Trading cryptocurrencies is a lot like gambling, except there is the element of skill within trading. Top traders are able to analyse their risk/reward ratio as well as harness techniques that they have learnt and practiced, such as TA, to increase their chances of being profitable. Perhaps, then, trading cryptocurrencies is akin to poker – gambling, but with the element of skill mixed with luck. The relationship between the two forms goes further.
There are rumours floating around that poker itself is going through a bull market right now. One of the reasons suggested for this is that those who have made money from the bull market in cryptocurrencies are looking to diversify into other areas as the bear market in cryptocurrencies drags on. Their skillset that they have learnt trading cryptocurrencies doesn’t necessarily mean that they walk into a casino as an expert, but they certainly have skills that can cross over.
There are those in poker who have meddled with cryptocurrencies as well. The adrenaline rush of both industries is prevalent as there is a lot of money to be made or lost.
Blockchain Poker allows people to play with their Bitcoin or Bitcoin Cash as their buy in, and if successful, they are rewarded in the same crypto. Tone Vays is currently hosting his Unconfiscatable conference mixing both the technological and philosophical aspects of Bitcoin with a night of playing poker.
Whilst people have been discussing the relationship between video games and the blockchain industry, there is a huge liquid market that cryptocurrencies can move into in the form of the gambling market. However, the current regulatory concerns over cryptocurrencies coupled with the strict regulations over gambling would have to be overcome, which could be tricky.
With that said, rather than video gaming, I view the gambling industry as a much more viable target for those involved in cryptocurrencies.