Regarding whether contract trading in the cryptocurrency circle counts as gambling, I think this matter needs to be examined closely. I have a living example: Last year, my cousin started with a capital of 1,000 yuan and 50 times leverage, made 30,000 yuan in one night, and lost everything the next day, even owing money to the platform. Now his wife is still arguing with him about divorce, saying it’s no different from gambling.

For example, there was a case in Hunan where the judge believed that the platform's use of high leverage and forced liquidation was no different from a casino taking a cut. However, the contracts on legitimate exchanges are based on the real fluctuations of Bitcoin, which is still different from just rolling dice.

From my observation, there are three points that are particularly similar to gambling:

1. The leverage multiplier is terrifying; 100 times leverage is like playing with 1 million using 10,000, and a 1% price fluctuation can lead to liquidation, which is similar to betting on high or low.

2. Some smaller platforms indeed manipulate the situation. I have seen people screenshot showing profits suddenly get stuck, and by the time they can operate again, they have already been liquidated.

But to say it is completely equivalent to gambling is also not correct. Those who truly understand the field will use contracts to hedge risks, just like businesses need to buy insurance. The key is that 90% of retail investors are messing around blindly. In the internet cafe downstairs in my apartment, there are young people trading cryptocurrencies every night, with screens showing contract interfaces with five to six times leverage, and the ashtrays are filled with Red Bull cans.

I suggest ordinary people stay away from this stuff. If you really want to play, remember three rules:

1. Don’t exceed 5 times leverage; I have seen too many tragedies of going to zero in 10 minutes.

2. Only use spare money, and absolutely don’t borrow money to play.

3. Set an alarm every day to force a stop-loss. My cousin didn’t stop-loss and lost 600,000 yuan in a week.

Now even the aunties at the vegetable market know about 'getting rich through contracts,' which is itself very dangerous. Last year in our county, there was someone who mortgaged their milk tea shop to play contracts, and now they are working out of town to pay off debts. If you ask me, this thing is not much different from gambling for ordinary people.