Are crypto assets a form of gambling?

Crypto assets are a form of gambling

Crypto assets have no income and use value and are zero-sum games and thus have no fundamental value. Trying to time the market of crypto assets is equivalent to games of chance and gambling with a negative expected return.

Crypto assets are not gambling if one participates in a cartel which does pump and dump schemes or other forms of market manipulation which uses asymmetric information to defraud other market participants. Pump and dump schemes result in a net wealth transfer from the larger market to a small set of insiders.


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