A person who won 600k$ in lottery - page 9.

noormcs5

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Quote from: maydna on August 27, 2023, 11:55:05 AM

Quote from: Eureka_07 on August 27, 2023, 08:10:40 AM

Quote from: sompitonov on August 27, 2023, 07:30:39 AM

This can be compared to money in the stock market or the cryptocurrency market, when stocks, or rather altcoins, flew up and you earned a lot of money. So with such a profit, you must definitely take a large part for your life and spend it. It is to spend, because if you don't, then the money that you withdrawn, you can make a deposit again.
-

I honestly do not get what you were trying to say with this one. I cannot understand how does gambling (specifically lottery)is related or comparable to stock and crypto markets. I mean, yes, they both involve risks, however, I really cannot think of each characters that are alike.

Perhaps he is comparing money in the stock market or the crypto market where when we get profit, the profit can be like when we win in the lottery. But that's clearly different because when we play the lottery, there is money that is lost because we can't win, and we have to accept it even though there are still many people who will buy lottery tickets. It's because they still have the hope of winning one day.

Meanwhile, in the crypto market, they can get their profit back if they keep holding the coin while waiting for the market to reverse so that the coin's price will increase again.

But there is something in common between the two: if we cannot manage the winning money from gambling or profits from trading in the crypto market, we cannot change our lives for the better. We will use the money for things we don't really need.

Well, people who win big money unexpectedly, they usually become greedy and will try to invest in other things like trading or perhaps going more gambling and may lose all the money. The best thing is to keep the money saved for some time and not further risk it.

Yes, you can fulfil your desires, and spend on eating, and outing but do not invest in risky markets. Better they should get some information from their close family and friends and then make wise decisions. Remember it does not take long to lose all the lottery money if we make the wrong decision and re-invest our money in the wrong places.

coinerer

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Quote from: zuzie on August 28, 2023, 01:39:49 AM

Quote from: Silberman on August 27, 2023, 01:51:49 AM

Quote from: ethereumhunter on August 24, 2023, 08:08:51 AM

Quote from: zuzie on August 24, 2023, 01:21:31 AM

Therefore we must manage money as well as possible so that we are not exposed to things that are detrimental to ourselves, because it is not certain that in the future we will always win the lottery, agree with your opinion if I win. I will use part of the lottery to buy bitcoins for investment and if the price of bitcoins is high, I will sell them immediately. So someone will learn on their own to be able to manage their finances well and use them only for necessities.

You are right because by managing the winning money as well as possible, we can get the opportunity to realize our dream of starting a business or business that we want to build. And we can also invest like everyone else. If we are already familiar with bitcoin and want to have even bigger bitcoin investments, we can immediately buy it regularly because now we already have the money. And if I am the lottery ticket winner, I will also use half of the winning money to invest in bitcoin and use the rest for the necessities of life and preparation for my family's future.

We should have plans for our families, especially since we have won the lottery, which is a lot. And we no longer need to worry about the future because we can prepare for it by using that money. And with good planning, we can change our lives for the better.

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that.

Everyone has different views and plans for life, indeed some people currently think that saving bitcoins in the long term will be more profitable in the future, and there are also those who think that investing directly, for example by buying gold, property or land, will more profitable in the future. After all, I think it's the same as saving, right? Yes, it's true that we shouldn't just depend on luck, because we don't know what will happen to us in the future.

We don't know what our life will be like in the future but we can guess it because the more we save for the future from now on the better our future will be. But if we don't save for the future and just leave it to luck then luck alone will not make our future bright. Yes it is true that luck can help us achieve great things but it is very little. Because only luck can't make our future brighter without self-effort. And for investing, a good asset should be raised. Gambling cannot be a good place for investment. Gambling can only be a place of good fun

maydna

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Quote from: sompitonov on August 28, 2023, 02:20:48 PM

Quote from: maydna on August 28, 2023, 04:50:14 AM

~snip~

I once watched a program about people who won the lottery. So the essence of this program was that the correspondents found people who won the jackpot after 10 years or more. The vast majority of these lucky ones in the past lived in poverty after this time.

They spent money only on liabilities: an expensive car (which by that time had broken down), real estate (when buying which they were deceived or they took a huge % for the services of realtors), a large number of new relatives and friends who were lent money (they didn't return), well, leftovers for a luxurious life and alcohol with expensive food.

All this happened because they didn't have basic knowledge of financial literacy. If they invested in assets and diversified their investments, they could live on % of these passive incomes until the end of their days, and they would also leave these assets to their children.

That's what will happen to people who can't use the winnings from the lottery even though the winnings must be huge and can change their lives in no time. But because they are too wasteful and concerned with lifestyle, they don't manage their finances properly and instead return to conditions like in the past.

It was very sad to see them unable to change their lives for the better even though they already had a lot of money at that time, so they should be able to better prepare for their future. We can learn this lesson so that if we win the lottery, we can use the money well and have a better future. Especially if we already have children because we want to see their lives be better than ours, we can do it with the winning money from the lottery.

wiss19

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Quote from: Betwrong on August 27, 2023, 06:51:34 AM

Quote from: Peanutswar on August 20, 2023, 09:01:02 AM

Reason, why many people would like to try their risk with the lottery, is because of the large amount of prize pool, every time there's a person who win almost 320k$ just hitting the jackpot and if you got luck you can solo price or equally divided to all of the winners ~

Another reason is the relatively small price for the ticket. Firstly, you can potentially win a lot, and secondly you are not risking much for that opportunity. Both are valid reasons, in my opinion. That's why Lottery is so attractive to many people: they want to have a hope to win a lot without risking a lot.

The second reason is probably the biggest reason why lotteries are so popular, even the poor or middle-class people tend to participate in lotteries because they have the hope that maybe one day their lives will be changed just because of one of these lotteries if they manage to hit a jackpot. This hope is what makes them keep buying tickets every time even after not winning anything for years because the probability of winning with a small amount of tickets is very low.

However, it's all about luck, I've seen people buying about 30% of the total tickets of a lottery and still not winning anything while a person with just 200 tickets wins the highest prize. So the probability doesn't really matter that much but it is all dependent on one's luck and destiny.

sompitonov

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Quote from: maydna on August 28, 2023, 04:50:14 AM

Quote from: sompitonov on August 27, 2023, 03:30:55 PM

Quote from: maydna on August 27, 2023, 11:55:05 AM

~snip~

I will write in more detail. I mean, on a low liquid altcoin, you can earn thousands of percent if it gets pumped in a short period of time, but also if you enter it at a bad time, you will lose more than 90%+. It resembles me a game of roulette, only you won't know the result immediately, but after a few days. I was lucky once in my life to earn thousands of % on such an altcoin, it is comparable to winning the jackpot. It is a pity that I didn't take this money, because then I lost 98% of them. You may not agree with me, and I'm not trying to convince you, but I see a slight similarity here for me.

I understand your point. Yes, that's how it is when we invest in altcoins, and we might find it difficult to find altcoins that can increase thousands of percent if pumped in a short time. And if anyone can get hold of a proper altcoin like that, they are truly a lucky person to make a fortune.

Well, back to the topic. Perhaps people who win the lottery by getting a lot of money should be able to use their money well to improve their lives. The lottery's huge amount of money is like a tool to change his life if he can really put his money to good use. But most people will be dazzled by the enormous amount of money that they don't think about their future. Instead of thinking about their future, they buy things that are only temporary and of no use for their future.

I once watched a program about people who won the lottery. So the essence of this program was that the correspondents found people who won the jackpot after 10 years or more. The vast majority of these lucky ones in the past lived in poverty after this time.

They spent money only on liabilities: an expensive car (which by that time had broken down), real estate (when buying which they were deceived or they took a huge % for the services of realtors), a large number of new relatives and friends who were lent money (they didn't return), well, leftovers for a luxurious life and alcohol with expensive food.

All this happened because they didn't have basic knowledge of financial literacy. If they invested in assets and diversified their investments, they could live on % of these passive incomes until the end of their days, and they would also leave these assets to their children.

maydna

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Quote from: sompitonov on August 27, 2023, 03:30:55 PM

Quote from: maydna on August 27, 2023, 11:55:05 AM

~snip~

I will write in more detail. I mean, on a low liquid altcoin, you can earn thousands of percent if it gets pumped in a short period of time, but also if you enter it at a bad time, you will lose more than 90%+. It resembles me a game of roulette, only you won't know the result immediately, but after a few days. I was lucky once in my life to earn thousands of % on such an altcoin, it is comparable to winning the jackpot. It is a pity that I didn't take this money, because then I lost 98% of them. You may not agree with me, and I'm not trying to convince you, but I see a slight similarity here for me.

I understand your point. Yes, that's how it is when we invest in altcoins, and we might find it difficult to find altcoins that can increase thousands of percent if pumped in a short time. And if anyone can get hold of a proper altcoin like that, they are truly a lucky person to make a fortune.

Well, back to the topic. Perhaps people who win the lottery by getting a lot of money should be able to use their money well to improve their lives. The lottery's huge amount of money is like a tool to change his life if he can really put his money to good use. But most people will be dazzled by the enormous amount of money that they don't think about their future. Instead of thinking about their future, they buy things that are only temporary and of no use for their future.

zuzie

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Quote from: Silberman on August 27, 2023, 01:51:49 AM

Quote from: ethereumhunter on August 24, 2023, 08:08:51 AM

Quote from: zuzie on August 24, 2023, 01:21:31 AM

Therefore we must manage money as well as possible so that we are not exposed to things that are detrimental to ourselves, because it is not certain that in the future we will always win the lottery, agree with your opinion if I win. I will use part of the lottery to buy bitcoins for investment and if the price of bitcoins is high, I will sell them immediately. So someone will learn on their own to be able to manage their finances well and use them only for necessities.

You are right because by managing the winning money as well as possible, we can get the opportunity to realize our dream of starting a business or business that we want to build. And we can also invest like everyone else. If we are already familiar with bitcoin and want to have even bigger bitcoin investments, we can immediately buy it regularly because now we already have the money. And if I am the lottery ticket winner, I will also use half of the winning money to invest in bitcoin and use the rest for the necessities of life and preparation for my family's future.

We should have plans for our families, especially since we have won the lottery, which is a lot. And we no longer need to worry about the future because we can prepare for it by using that money. And with good planning, we can change our lives for the better.

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that.

Everyone has different views and plans for life, indeed some people currently think that saving bitcoins in the long term will be more profitable in the future, and there are also those who think that investing directly, for example by buying gold, property or land, will more profitable in the future. After all, I think it's the same as saving, right? Yes, it's true that we shouldn't just depend on luck, because we don't know what will happen to us in the future.

sompitonov

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Quote from: maydna on August 27, 2023, 11:55:05 AM

Quote from: Eureka_07 on August 27, 2023, 08:10:40 AM

Quote from: sompitonov on August 27, 2023, 07:30:39 AM

This can be compared to money in the stock market or the cryptocurrency market, when stocks, or rather altcoins, flew up and you earned a lot of money. So with such a profit, you must definitely take a large part for your life and spend it. It is to spend, because if you don't, then the money that you withdrawn, you can make a deposit again.
-

I honestly do not get what you were trying to say with this one. I cannot understand how does gambling (specifically lottery)is related or comparable to stock and crypto markets. I mean, yes, they both involve risks, however, I really cannot think of each characters that are alike.

Perhaps he is comparing money in the stock market or the crypto market where when we get profit, the profit can be like when we win in the lottery. But that's clearly different because when we play the lottery, there is money that is lost because we can't win, and we have to accept it even though there are still many people who will buy lottery tickets. It's because they still have the hope of winning one day.

Meanwhile, in the crypto market, they can get their profit back if they keep holding the coin while waiting for the market to reverse so that the coin's price will increase again.

But there is something in common between the two: if we cannot manage the winning money from gambling or profits from trading in the crypto market, we cannot change our lives for the better. We will use the money for things we don't really need.

I will write in more detail. I mean, on a low liquid altcoin, you can earn thousands of percent if it gets pumped in a short period of time, but also if you enter it at a bad time, you will lose more than 90%+. It resembles me a game of roulette, only you won't know the result immediately, but after a few days. I was lucky once in my life to earn thousands of % on such an altcoin, it is comparable to winning the jackpot. It is a pity that I didn't take this money, because then I lost 98% of them. You may not agree with me, and I'm not trying to convince you, but I see a slight similarity here for me.

maydna

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Quote from: Eureka_07 on August 27, 2023, 08:10:40 AM

Quote from: sompitonov on August 27, 2023, 07:30:39 AM

This can be compared to money in the stock market or the cryptocurrency market, when stocks, or rather altcoins, flew up and you earned a lot of money. So with such a profit, you must definitely take a large part for your life and spend it. It is to spend, because if you don't, then the money that you withdrawn, you can make a deposit again.
-

I honestly do not get what you were trying to say with this one. I cannot understand how does gambling (specifically lottery)is related or comparable to stock and crypto markets. I mean, yes, they both involve risks, however, I really cannot think of each characters that are alike.

Perhaps he is comparing money in the stock market or the crypto market where when we get profit, the profit can be like when we win in the lottery. But that's clearly different because when we play the lottery, there is money that is lost because we can't win, and we have to accept it even though there are still many people who will buy lottery tickets. It's because they still have the hope of winning one day.

Meanwhile, in the crypto market, they can get their profit back if they keep holding the coin while waiting for the market to reverse so that the coin's price will increase again.

But there is something in common between the two: if we cannot manage the winning money from gambling or profits from trading in the crypto market, we cannot change our lives for the better. We will use the money for things we don't really need.

Eureka_07

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Quote from: sompitonov on August 27, 2023, 07:30:39 AM

This can be compared to money in the stock market or the cryptocurrency market, when stocks, or rather altcoins, flew up and you earned a lot of money. So with such a profit, you must definitely take a large part for your life and spend it. It is to spend, because if you don't, then the money that you withdrawn, you can make a deposit again.
-

I honestly do not get what you were trying to say with this one. I cannot understand how does gambling (specifically lottery)is related or comparable to stock and crypto markets. I mean, yes, they both involve risks, however, I really cannot think of each characters that are alike.

Mr. Magkaisa

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Quote from: Josefjix on August 22, 2023, 11:18:42 AM

Quote from: Peanutswar on August 20, 2023, 09:01:02 AM

Reason, why many people would like to try their risk with the lottery, is because of the large amount of prize pool, every time there's a person who win almost 320k$ just hitting the jackpot and if you got luck you can solo price or equally divided to all of the winners, there's some joke right here in my country unexpectedly the person manage to win the jackpot and another day there's another winner or it and after that week there's a winner again in the history of gambling of lottery here in my country its rarely seen there's a winner always manage to win the jackpot everyday and people doing some joke like the host itself makes an under the table transactions. To verify this no one knows just people keep doing fun in the facebook page.

Lottery is about how lucky one can be in a day, a week, a month and probably year. I totally abstain from lottery the day I got my bank account liquidated because I was hoping to earn gigantic sums from lottery, the system kept draining me little by little, stage by stage and tearing down my every piece of winning. Sometimes I often wonder if all these news spreading are true? Because I've never seen one that won this high figures in lottery, the one around keeps earning little change which can not be compared to what they have actually lost in lottery.

- That's right, the lottery is really just luck, and it depends on the number you care about. Before, I used to bet there often, and the only reason that happened was because I experienced winning 5 digits and thought that I might win the major prize. I probably did that every day for a few months. But eventually I stopped too.

But when I see that the jackpot prize is really big, I still bet from time to time, and I say that if I win, I will put money in the stock market and real estate, and apart from that, I will buy my dream houses, cars, and apartments. The same will be done if it is also a source of investment, so it's just a dream that I win the lottery.

sompitonov

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Quote from: slapper on August 27, 2023, 06:37:47 AM

Quote from: rachael9385 on August 27, 2023, 05:57:51 AM

Quote from: Silberman on August 27, 2023, 01:51:49 AM

~snip~

If you don't use the money you won from gambling to invest or start up a business for your self or for someone close to you, you might still end up losing it to gambling again and I am not even sure if you will ever get such huge opportunity again because it is said that opportunities comes but once and it takes luck (grace) to come again.
The sad part of the whole thing is that if you think that usimg the money you won from gambling to try if you will win another one because you just won already without investing it, if you lose them you will definitely start from Grand 1 all over again.

You've touched on something many folks don't get. Winning in gambling is like getting a hole-in-one in golf – I've had my fair share of those, and let me tell you, they don't come around every day. Now, I'm all for some healthy. But money won is twice as sweet as money earned... but only if you're smart with it

Opportunities? They're like buildings, if you don't maintain them, they crumble. Reinvesting in gambling? That's like hoping to strike gold twice in the same spot! Buddy, you’ve got a chance, a golden ticket, don’t squander it. Use that money, invest it, build something! Remember, the house always wins. You want to BE the house, not play against it. So, take that win, make it grow, and don't roll the dice twice on the same bet

This can be compared to money in the stock market or the cryptocurrency market, when stocks, or rather altcoins, flew up and you earned a lot of money. So with such a profit, you must definitely take a large part for your life and spend it. It is to spend, because if you don't, then the money that you withdrawn, you can make a deposit again.

Buy something that you have long dreamed of or to please your near and dear people with a trip. If this isn't done, then this money will again go to the casino or the market. I experienced something similar myself, and now years have passed, but the market took my money, so I learned this lesson for life. And this has never happened to me again, but I think that fate will give me at least one more chance in my life to experience something worthwhile, but I'm not sure.

Rabata

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Quote from: rachael9385 on August 27, 2023, 05:57:51 AM

Quote from: Silberman on August 27, 2023, 01:51:49 AM

Quote from: ethereumhunter on August 24, 2023, 08:08:51 AM

Quote from: zuzie on August 24, 2023, 01:21:31 AM

Therefore we must manage money as well as possible so that we are not exposed to things that are detrimental to ourselves, because it is not certain that in the future we will always win the lottery, agree with your opinion if I win. I will use part of the lottery to buy bitcoins for investment and if the price of bitcoins is high, I will sell them immediately. So someone will learn on their own to be able to manage their finances well and use them only for necessities.

You are right because by managing the winning money as well as possible, we can get the opportunity to realize our dream of starting a business or business that we want to build. And we can also invest like everyone else. If we are already familiar with bitcoin and want to have even bigger bitcoin investments, we can immediately buy it regularly because now we already have the money. And if I am the lottery ticket winner, I will also use half of the winning money to invest in bitcoin and use the rest for the necessities of life and preparation for my family's future.

We should have plans for our families, especially since we have won the lottery, which is a lot. And we no longer need to worry about the future because we can prepare for it by using that money. And with good planning, we can change our lives for the better.

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that

If you don't use the money you won from gambling to invest or start up a business for your self or for someone close to you, you might still end up losing it to gambling again and I am not even sure if you will ever get such huge opportunity again because it is said that opportunities comes but once and it takes luck (grace) to come again.
The sad part of the whole thing is that if you think that usimg the money you won from gambling to try if you will win another one because you just won already without investing it, if you lose them you will definitely start from Grand 1 all over again.

Those who do not think about the future they do not create the future. Normally common people can manage his life in one way but a gambler cannot. Because gamblers can sometimes win big lotteries or jackpots that can change their lives. But not all gamblers can enjoy that money. Because after they win, they lose that money in gambling in the same way. The point of saying these words is that a gambler must pay attention to his money management. Since jackpot will not available. So if one takes the initiative to invest while having money and in that case chooses a platform like Bitcoin then he can take his financial position in a strong level.

Betwrong

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Quote from: Peanutswar on August 20, 2023, 09:01:02 AM

Reason, why many people would like to try their risk with the lottery, is because of the large amount of prize pool, every time there's a person who win almost 320k$ just hitting the jackpot and if you got luck you can solo price or equally divided to all of the winners ~

Another reason is the relatively small price for the ticket. Firstly, you can potentially win a lot, and secondly you are not risking much for that opportunity. Both are valid reasons, in my opinion. That's why Lottery is so attractive to many people: they want to have a hope to win a lot without risking a lot.

slapper

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Quote from: rachael9385 on August 27, 2023, 05:57:51 AM

Quote from: Silberman on August 27, 2023, 01:51:49 AM

~snip~

If you don't use the money you won from gambling to invest or start up a business for your self or for someone close to you, you might still end up losing it to gambling again and I am not even sure if you will ever get such huge opportunity again because it is said that opportunities comes but once and it takes luck (grace) to come again.
The sad part of the whole thing is that if you think that usimg the money you won from gambling to try if you will win another one because you just won already without investing it, if you lose them you will definitely start from Grand 1 all over again.

You've touched on something many folks don't get. Winning in gambling is like getting a hole-in-one in golf – I've had my fair share of those, and let me tell you, they don't come around every day. Now, I'm all for some healthy. But money won is twice as sweet as money earned... but only if you're smart with it

Opportunities? They're like buildings, if you don't maintain them, they crumble. Reinvesting in gambling? That's like hoping to strike gold twice in the same spot! Buddy, you’ve got a chance, a golden ticket, don’t squander it. Use that money, invest it, build something! Remember, the house always wins. You want to BE the house, not play against it. So, take that win, make it grow, and don't roll the dice twice on the same bet

Pamadar

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Quote from: len01 on August 27, 2023, 05:27:22 AM

Quote from: Silberman on August 27, 2023, 01:51:49 AM

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that.

we cannot fight the bettor habit and it has become a bad habit of gamblers who cannot think in the long term or only think instantly to get money in an easy and fast way. because every bettor or gambler who only spends winning money on something that is not important they have the mindset that they will get another win after that without thinking about how this winning money can be more with a slightly smaller risk such as investing the winning money to buy BTC and hold on to it for a few years to gain old age or long term benefits. maybe professional gamblers can have thoughts like this but for ordinary gamblers it seems like it will be very difficult because as we all know today many gamblers think gambling is an income. so no long term thinking.

Precisely, gamblers who experienced an easy win think that they will continue to have that luck or inside their mindset they think that they have that mastery that will allow them to keep on winning,

Maybe there are some who can think wisely and, after winning a decent amount, they will take time to
use that winning money into investment, long-term wise it will give them decent benefits. Depending
from how each individual thinks ahead and treats the winnings and convert it to investment.

rachael9385

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Quote from: Silberman on August 27, 2023, 01:51:49 AM

Quote from: ethereumhunter on August 24, 2023, 08:08:51 AM

Quote from: zuzie on August 24, 2023, 01:21:31 AM

Therefore we must manage money as well as possible so that we are not exposed to things that are detrimental to ourselves, because it is not certain that in the future we will always win the lottery, agree with your opinion if I win. I will use part of the lottery to buy bitcoins for investment and if the price of bitcoins is high, I will sell them immediately. So someone will learn on their own to be able to manage their finances well and use them only for necessities.

You are right because by managing the winning money as well as possible, we can get the opportunity to realize our dream of starting a business or business that we want to build. And we can also invest like everyone else. If we are already familiar with bitcoin and want to have even bigger bitcoin investments, we can immediately buy it regularly because now we already have the money. And if I am the lottery ticket winner, I will also use half of the winning money to invest in bitcoin and use the rest for the necessities of life and preparation for my family's future.

We should have plans for our families, especially since we have won the lottery, which is a lot. And we no longer need to worry about the future because we can prepare for it by using that money. And with good planning, we can change our lives for the better.

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that

If you don't use the money you won from gambling to invest or start up a business for your self or for someone close to you, you might still end up losing it to gambling again and I am not even sure if you will ever get such huge opportunity again because it is said that opportunities comes but once and it takes luck (grace) to come again.
The sad part of the whole thing is that if you think that usimg the money you won from gambling to try if you will win another one because you just won already without investing it, if you lose them you will definitely start from Grand 1 all over again.

len01

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Quote from: Silberman on August 27, 2023, 01:51:49 AM

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that.

we cannot fight the bettor habit and it has become a bad habit of gamblers who cannot think in the long term or only think instantly to get money in an easy and fast way. because every bettor or gambler who only spends winning money on something that is not important they have the mindset that they will get another win after that without thinking about how this winning money can be more with a slightly smaller risk such as investing the winning money to buy BTC and hold on to it for a few years to gain old age or long term benefits. maybe professional gamblers can have thoughts like this but for ordinary gamblers it seems like it will be very difficult because as we all know today many gamblers think gambling is an income. so no long term thinking.

Cryptmuster

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Quote from: Silberman on August 27, 2023, 01:51:49 AM

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that.

If, before winning the lottery, a person did not make any investments and did not study this issue, then most likely he will simply spend this money on his desires. It is rare that anyone will want to learn this when such a sum of money falls into their hands, but here everyone has a choice either to simply spend this money, or to invest it in such a way that it begins to generate passive income and thus achieve financial independence.

ethereumhunter

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Quote from: Silberman on August 27, 2023, 01:51:49 AM

The majority of those which win the lottery immediately think about spending that money and they never even consider investing part of it, which is a huge mistake as someone that invested half of that money in bitcoin will probably experiment greater profits than their lottery win if they were willing to hold those coins for a few years, and in a way this demonstrates how saving and becoming a good investor is a superior choice than simply relying on your luck, as a good investor given enough savings and enough time should be able to produce more money than that.

If they could think about their future, they would invest in bitcoin and manage their finances between their daily life and preparing for their future apart from investing in bitcoin. But most of them don't do it and instead use the lottery money for temporary things like buying things they don't need just because they want to be considered rich. They tend to follow trends and with that money, they buy things and show people around them.

But if they can hold back their ego and live as usual and prefer to prepare for their future, their lives will change for the better in the future. Changing lives from lottery winnings can be one way, but we also don't need to live a luxurious lifestyle because that is immediately meaningless. A better future is more important, especially if we already have children because our children will continue what we have. Paying more attention to them and their future means we have prepared their lives even though they will have their own desires.

Topic: A person who won 600k$ in lottery - page 9. (Read 2153 times)