Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Here's a few ways I could think of: 1. It's much more difficult to gamble with debt/debt is not used for gambling to such an extent that the scale would have enough of an effect. 2. From an economy's perspective gambling is net zero. What is catastrophic to an individual is a benefit for the person(casino) on the other side of the bet. Whereas the loss of value from bitcoin would reduce the total balance sheet for the economy. 3. I think that Bitcoin as assets can be used as collateral for other purchases or to be loaned out for others to use. This creates a chain of wealth based on the value of a bitcoin. Break the foundation of this chain (reduce the price of bitcoin by 75%) and that entire chain of wealth creation is broken. 4. The revenue from gambling is around $40 billion per year in the United States, whereas the market value of Bitcoin is over $1 trillion. It's really not apples to apples at all though, since it's market value vs. revenue. I'm not sure a good way to compare the gambling market vs. the crypto market.


Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: