[mattbrewsbytes]

I would argue that futures (and options) are still gambling. You are literally betting a price of something will be over/under a threshold on a certain date. Sports betting uses over/under and scores as thresholds, this seems no different. People might say its different than sports gambling because it is chance/luck with a team but you can do in depth research on sports teams just as much as futures/options and at the end you are still guessing and betting money.

Cryptocurrencies trade like stocks and don't operate as an actual currency for the vast majority of use cases. I like to think the phase we are in now is like pre-dotcom bust where there were startups with silly plans getting VC money. I think there is some technology (maybe ETH smart contracts and decentralized apps?) that could come out of this and maybe some businesses emerge that are legit.

[drexlspivey]

> I would argue that futures (and options) are still gambling.

And you would be wrong because those instruments were designed to hedge (reduce) risk. If you are a grain producer and you are worried that the grain price might go down before your next crop you sell a future to lock the price, if you are a flour mill and worry that the price will go up you buy a future.

Can all financial instruments be used for speculation? Of course, same as buying a ton of grain not because you need it but because you expect the price to go up.

[Animats]

And you would be wrong because those instruments were designed to hedge (reduce) risk.

That tail now wags the dog. The futures markets in commodities are much larger than the actual markets.

[pvorb]

This sounds like we have a new 2007 housing bubble.