The similarities between stock speculation and gambling have always been obvious to the common man. In the late 19th and early 20th century, even those who didn’t have the cash or connections to actually buy stock could still frequent so-called bucket shops, which were kind of like off-track betting parlors but for wagering on stocks instead of horses. Patrons would take “positions” on stocks that paid off if the stock went the right direction, but without ever actually owning the underlying asset.
By the early 1920s, bucket shops were outlawed in the U.S., and the 1929 stock market crash scared away manic speculators for the better part of a century. But recent years have seen a belated resurgence in the use of financial markets for entertainment purposes. The difference is that now, instead of fraudulent bucket shops, the gambling is happening with real assets.
The pump was primed by the dot-com bubble of the late 1990s, but it was crypto that truly reintroduced speculative mania...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...