In a broad sense, any risk-taking behavior for profit can be called speculation; in a narrower sense, speculation refers to risky investment behavior that takes advantage of fluctuations in the price of commodities or financial assets in the market.
Early options trading in the US began in 1872, founded by the then famous financier Russell, and at that time included call and put options, the market was always OTC and required trading through brokers.
In a sense, Bitcoin mining (more commonly known as proof-of-work mining) is the process of "guessing" what the next block in the Bitcoin blockchain might be.
Since the late 1980s, in an increasingly stimulating international competitive environment, large mainstream international banks have consolidated their core businesses through targeted divestiture, outsourcing of non core businesses, and continuous expansion and mergers and acquisitions. Their business strategic positioning has changed from extensive all-round and diversified expansion to selective development of core businesses.
