Rouge/Noir, Pair/Impair, Manque/Passe? Staking money on whether a cryptocurrency will go up or down is, to put it mildly, like gambling. However, there is growing evidence that professional traders are muscling in and there are likely to be two consequences, neither of which is good news for ordinary investors coming late to the roulette table. First, the price swings will moderate as the professionals deploy their expert use of limits, stop losses and straddles. This will surely remove most of the fun of making big bucks out of nothing. Second, as the market matures, the professionals like the bookies at horse races will almost always win. Most of them have cut their teeth trading gold, silver, other commodities and FX: ordinary crypto-punters will be cannon fodder. Even worse, any profits will be taxable! Even though the cryptocurrencies are wholly unregulated, winnings are not treated like those from gambling. Yes, indeed, as with taxing prostitutes, HMRC is shameless!