@onestrongwriter Bitcoin in its own can buy and sell you goods just like USD, and can be used in a speculative manner just like USD in forex, and even just like timing gold rallies and gold dumps. And I argued above that the use cases for USD as stock trading or forex is by far huge. You just dismiss it because to everyone it's just some random number on the news, but you go out and see everyone buying goods with the USD. This is not the case.
Gold is volatile, extremely volatile some times too, and its cycles are becoming increasingly difficult to time and expect, I've been trading gold for a while now.
Trading in general has gambling element to it, else if everybody saw what is coming next no one would gain profit. And retail investors never have any insight or insider info. Like take the last gold rally, no one saw it coming, who knew the Chinese after 3% deflation will go and hoard gold? I don't think alot, and whoever was buying gold got lucky, and now people wanting to buy gold waiting for a correction are gambling, no one know where and when will this rally end so if I buy gold today, I am just trying my luck.
I agree that pump and dump shit coins are pure ponzi schemes, but BTC is starting to behave just like gold with little more hype, heck, even gold now is having attention like never before.
I think what haram gambling is, is just trades that leaves you with nothing after your bet is lost, like options or futures, because the value of the contract is nothing. But let's say you bough gold with 1300 usd/oz and you think it will go to 2000 usd/oz but you bet wrong and it went to 1000 usd/oz, you still ended up with the gold you bought, same for bitcoin, but not the same with options/features. Because your contract will be void and you will end up losing money without an asset.
But let's say I bought BTC when it was 16k USD and sold it when it's 70k USD, it's just like when I bough gold when it was 1300 usd/oz and sold it when it was 2300 usd/oz.. And gold and btc both can buy and sell you good, and both have value.. Gold's value is seriously just a hedge against inflation, and btc is trying to be like that. So what makes the first transaction haram and the other halal?