So, the digital currency known as Bitcoin often fluctuates by large amounts and operates independently of a central bank. By definition, the value of these bitcoins is entirely artificial, and yet thousands of people invest, sometimes on large scales, in these coins. Would you argue it is possible to make calculated risks when investing on Bitcoin or is it purely luck?
You've got more chance of predicting which horse will win a race than you do at predicting bitcoin's movements... and yet people only consider the first a form of gambling?
Yes, bitcoins are 100% gambling, unlike stocks and currencies which are affected by factors that we can try and predict, like interest rate changes or economic downturns.
Of course it's gambling. You're throwing money at something you have zero control over. Any form of investing is a form of gambling. The difference is investing in stocks is something you can acquire a skill for. There are patterns and signs. You can learn how to get good at it. Bitcoins on the other hand are volatile. They're unpredictable. That's not to say you can't invest and make money from them but the risk is far greater. Good investors minimise risk or take calculated risks.