Be careful with people's money - page 13.

LUCKMCFLY

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Quote from: Zadicar on May 18, 2024, 11:41:53 AM

Quote from: Ever-young on May 18, 2024, 10:59:24 AM

Quote from: retreat on May 15, 2024, 06:06:02 AM

There have been many cases like that where people misuse other people's money for their own interests, for example gambling with the money in the hope that they can multiply the money and make themselves rich. Gambling using other people's money is a very stupid act, because gambling is uncertain when you win or lose, and you will most likely lose, so gambling using money you shouldn't gamble with is very risky and should be avoided.

This is also one of the reasons that makes some people to go to jail, because of using people's money to gamble. Like someone I have in my compound, this family has been doing so fine, they are money lenders and one of their children is a chronic gambler, he is working but before the end of the month when he do receive salary, he will be owing people his monthly payment for gambling, so once they pay him, he will use it to settle the debt, even to the extent of going as far as going to demand his parents money from debtors and use all the money for gambling even using other people own too, police do arrest him almost every week, and if care it's not taken, the next time they will arrest him, he might be able to come out. So let's be careful because this kind thing can even lead someone to their early grave, let's gamble responsibly.

If you are someone or you do find yourself that being that too impulsive on seeing money or which you are really that tempted to do things then it would be better that you should quit up into your position
and dont find yourself to be that in trouble just because you have stole something which isnt yours. There are really actually people who are really that someone whose really be having that kind of behavior on which
they cant be able to resist on the time that they've seen some money specially on the moment that they are addicted with gambling then this is the moment that they will really be not minding much about on the things that they are really that holding. They dont care if their reputation would really be that affected or on the time that you would really be able to lose the trust of other people.

This betting a lot of money that does not belong to the person but to others is something that cannot be done, I have seen that there are many scammers on telegram when they tell people to put in 100usd or an amount and then they pump and dump and if they win They give them a lot of money, so that is something that is not true, now in casinos there are people who do similar things because I have not seen much, although that could be an initiative for Players to say that they are successful. They need capital to play, so That is something we should avoid, it is Always better to play with our money, or if you trust someone with money, then let it be at risk and with all things.

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Quote from: Ever-young on May 18, 2024, 10:59:24 AM

Quote from: retreat on May 15, 2024, 06:06:02 AM

There have been many cases like that where people misuse other people's money for their own interests, for example gambling with the money in the hope that they can multiply the money and make themselves rich. Gambling using other people's money is a very stupid act, because gambling is uncertain when you win or lose, and you will most likely lose, so gambling using money you shouldn't gamble with is very risky and should be avoided.

This is also one of the reasons that makes some people to go to jail, because of using people's money to gamble. Like someone I have in my compound, this family has been doing so fine, they are money lenders and one of their children is a chronic gambler, he is working but before the end of the month when he do receive salary, he will be owing people his monthly payment for gambling, so once they pay him, he will use it to settle the debt, even to the extent of going as far as going to demand his parents money from debtors and use all the money for gambling even using other people own too, police do arrest him almost every week, and if care it's not taken, the next time they will arrest him, he might be able to come out. So let's be careful because this kind thing can even lead someone to their early grave, let's gamble responsibly.

If you are someone or you do find yourself that being that too impulsive on seeing money or which you are really that tempted to do things then it would be better that you should quit up into your position
and dont find yourself to be that in trouble just because you have stole something which isnt yours. There are really actually people who are really that someone whose really be having that kind of behavior on which
they cant be able to resist on the time that they've seen some money specially on the moment that they are addicted with gambling then this is the moment that they will really be not minding much about on the things that they are really that holding. They dont care if their reputation would really be that affected or on the time that you would really be able to lose the trust of other people.

DubemIfedigbo001

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Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

Quote from: https://cointelegraph.com/news/solana-cypher-developer-gambling-scandal

The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:

“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”

His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007

https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic

The safest way to handle people's money is placing it Iin another account that you don't visit regularly. To some extent, out of sight is out of consideration and not necessarily out of mind. When people have regular encounter with funds that's not theirs, but in their custody, their subconscious mind always involves such funds in consideration when any fund enabled activity crosses their mind.

Normally, funds are given to people on trust and when these things happen, its not only about the funds lost, but the trust broken which can almost never be built back, its irrational for him to have meddled with people's funds in his activity, but what can't addiction lead to?. Its obvious he's addicted to have sequentially thrown such an amount into gambling without pause or rethink.

Reducing contact with entrusted funds have saved me a whole lot of face in life, from accountability issues to maintaining financial integrity. I don't use my transaction accounts for such funds, I use an account I almost don't use and at times I even forget there's funds there until its demanded.

348Judah

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If you know of someone who gambles, then it's very important that you study such kind of a person and be careful on how you make a financial deal with people like that who gambles, am not saying that every gamblers are the same, but whenever we are having deals that have to involve money, then we cannot even trust ourself not to talk of trusting on others to deliver as we have expected with our money with them.

Ever-young

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Quote from: retreat on May 15, 2024, 06:06:02 AM

There have been many cases like that where people misuse other people's money for their own interests, for example gambling with the money in the hope that they can multiply the money and make themselves rich. Gambling using other people's money is a very stupid act, because gambling is uncertain when you win or lose, and you will most likely lose, so gambling using money you shouldn't gamble with is very risky and should be avoided.

This is also one of the reasons that makes some people to go to jail, because of using people's money to gamble. Like someone I have in my compound, this family has been doing so fine, they are money lenders and one of their children is a chronic gambler, he is working but before the end of the month when he do receive salary, he will be owing people his monthly payment for gambling, so once they pay him, he will use it to settle the debt, even to the extent of going as far as going to demand his parents money from debtors and use all the money for gambling even using other people own too, police do arrest him almost every week, and if care it's not taken, the next time they will arrest him, he might be able to come out. So let's be careful because this kind thing can even lead someone to their early grave, let's gamble responsibly.

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Quote from: teamsherry on May 17, 2024, 03:40:32 AM

He just git himself into a debt situation and that's why it's not advisable tonuse people's money to gamble cause you can end up putting yourself in much trouble, I think he needs to get himself some good self control lesson from this, no matter how profitable the option to gamble may seem its always risky and if the opposite happens you would surely regret it. It's also similar to borrowing money to gamble, I also find it quite absurd to do this cause gambling should be out of your disposable income not debt or as an expense.

And that is a wrong decision. He was supposed to think that it was not his money and he knew that people trusted him to keep the money safe and secure but with his addiction changed everything.

And this happens when we a irresponsible gamblers as we never thought this would create negative results because what is in our mind is to gamble.
Some gamblers just realize their wrongdoings after and until get caught. The sad thing is that it compromises not just their finances but also their reputations. This is how addiction could ruin one's life and be a reason why even their relatives and part of the family hate them.

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Quote from: jcojci on May 17, 2024, 03:50:11 AM

Quote from: lizarder on May 17, 2024, 01:42:11 AM

Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

There are always interesting stories of people admitting they misused other people's money and even we will hear justifications that never make sense. Please gamble but don't use other people's money and scale your gambling responsibly so that it doesn't cause problems in the future. There are no good results from using other people's money in gambling or vice versa using your own money, but being responsible for your involvement in gambling is very important.

Many temptations come to people who are already holding other people's money. It happens to many people and those who do not have strong self-control and want to grow their money will do many things that are not right. And they are the ones who will use their money to gamble, and in the end, they will lose all their money. Such people are greedy because they see an opportunity to use other people's money without thinking that people are entrusting their money to them to save and use for things they have planned. But because greed had set in, he ended up using his money to gamble, and unfortunately, he lost a lot of money. He should have known that gambling will not provide money easily and can result in the loss of money for investors and people.

Anyone that's holding people money should try and be careful with it because things that are not your always end up with some slit temptations that might result to big problems. This days it's hard to find a friend that trust his fellow friend even when they knows that their friend is a gambler. So is someone gives his friend money to hold and the person used it to gamble without paying the money back to the owner, if it doesn't result to trouble, the other friend who gave him the money will no longer trust his friend again.

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Quote from: Onyeeze on May 18, 2024, 08:34:15 AM

That's why we condemn the act of someone who is not up to age to participate in gambling, participating in gambling is something different and you will not understand the scenario when you are not earning your own money, some of us today that mismanaged money is people that is up to twenty five years of age, a student have much needs and they don't give student money to hold for long time because their is every possibility that he or she can mismanaged the funds at any point in time, so I will not blame the student because if you are in school you will think that gambling is the best place to make your own money

Using someone else's money instead of using your own money to gamble means you are borrowing and asking for blessings, which is very risky. If you lose your money, you will not be held responsible. But if you use someone else's money to gamble and lose, you will later have to pay back money that you cannot because you did not earn it yourself. so these should be avoided. Because there is no guarantee that you will win at gambling as it depends entirely on luck. so using other people's winnings despite not having your own earnings is the biggest stupidity and a big wrong decision

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That's why we condemn the act of someone who is not up to age to participate in gambling, participating in gambling is something different and you will not understand the scenario when you are not earning your own money, some of us today that mismanaged money is people that is up to twenty five years of age, a student have much needs and they don't give student money to hold for long time because their is every possibility that he or she can mismanaged the funds at any point in time, so I will not blame the student because if you are in school you will think that gambling is the best place to make your own money

blockman

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It has never been ethical to use someone's money. There have been different cases about misuse of other people's fund.

Quote from: Hispo on May 17, 2024, 12:46:52 PM

It is very sad how people can end up because of allowing greet to carry on and devoure them completely .

You've misspelled "greed" mate but that's fine. What you've said is true, there are people that are being taken over by their greed and will careless about other people's hard earned money because their priority is their addiction.

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Gamble responsibly

Quote from: dansus021 on May 17, 2024, 12:06:34 PM

There is also case that college student killed his friend because he losses in trading and there are also case people sold everything to fueled his gambling addiction that is crazy IMO

I want to get this correctly. The person that traded with the money killed his friend? Or a trader used his friend's money to trade and his killed him for that? Both are not good but I will like to know who killed who?

We should be very careful of trading and gambling. They are both very risky. It would have happened before the trader or gambler will start blaming themselves.

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Quote from: dansus021 on May 17, 2024, 12:06:34 PM

Be careful with people's money Indeed It's very true because this is not your money basically, money is two sides blades it can turn into good but with money, you can turn into evil here in Indonesia there are ton of case that mismanage someone's money and it the end of the day people be killed because of it.

There is also case that college student killed his friend because he losses in trading and there are also case people sold everything to fueled his gambling addiction that is crazy IMO

I am curious though, what do you mean when you say people get killed when they have lost the money of others. Was it because mob justice, some personal murder, or was it because the people usually ask mafias/criminal syndicates for money?
I am curious because here in my country, while one indeed can get killed because of loans, it must take dealing with the wrong people for one to get killed with money. It has to be a big enough quantity.
Since our cultures must be very different from one another, I would like to elaborate on those cases you are taking about, how much it was borrowed how it was lost, about whether there were interest rates or not, among other things.

It is very sad how people can end up because of allowing greet to carry on and devoure them completely .

dansus021

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Be careful with people's money Indeed It's very true because this is not your money basically, money is two sides blades it can turn into good but with money, you can turn into evil here in Indonesia there are ton of case that mismanage someone's money and it the end of the day people be killed because of it.

There is also case that college student killed his friend because he losses in trading and there are also case people sold everything to fueled his gambling addiction that is crazy IMO

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Quote from: lizarder on May 17, 2024, 01:42:11 AM

Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

There are always interesting stories of people admitting they misused other people's money and even we will hear justifications that never make sense. Please gamble but don't use other people's money and scale your gambling responsibly so that it doesn't cause problems in the future. There are no good results from using other people's money in gambling or vice versa using your own money, but being responsible for your involvement in gambling is very important.

Many temptations come to people who are already holding other people's money. It happens to many people and those who do not have strong self-control and want to grow their money will do many things that are not right. And they are the ones who will use their money to gamble, and in the end, they will lose all their money. Such people are greedy because they see an opportunity to use other people's money without thinking that people are entrusting their money to them to save and use for things they have planned. But because greed had set in, he ended up using his money to gamble, and unfortunately, he lost a lot of money. He should have known that gambling will not provide money easily and can result in the loss of money for investors and people.

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Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

Quote from: https://cointelegraph.com/news/solana-cypher-developer-gambling-scandal

The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:

“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”

His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007

https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic

I have also heard many stories about people who are so addicted to the game that they would take all the equipment out of the house to make a deposit and play again. I even knew someone who hit the jackpot and could pay off all his debts, but even this time he just treated all his friends, bought a lot of equipment, I mean phones and laptops. And it might not have ended so badly if he hadn't gone back to gambling and then handed over all that equipment and deposited it.

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He just git himself into a debt situation and that's why it's not advisable tonuse people's money to gamble cause you can end up putting yourself in much trouble, I think he needs to get himself some good self control lesson from this, no matter how profitable the option to gamble may seem its always risky and if the opposite happens you would surely regret it. It's also similar to borrowing money to gamble, I also find it quite absurd to do this cause gambling should be out of your disposable income not debt or as an expense.

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Quote from: Fortify on May 17, 2024, 02:07:32 AM

It was not "money mismanagement", it was fraud - plain and simple. That money was under their control for an assigned purpose, when they decided to take it and fritter it away on gambling, they did so with dishonest intent. It was driven by greed, they thought they could beat the system and ultimately got eaten up by it. It's hard to have any sympathy for them, as they probably had multiple chances to stop early on but kept pushing through with disastrous results. I feel sorry for the many people who will have to go without now, as one person tried to take a shortcut to wealth against odds that were stacked against them.

Absolutely right. When someone takes money that's been entrusted to them and uses it to gamble, that ain't just bad management - it's fraud, plain and simple. Theres a clear difference between making a dumb investing decision with good intentions versus intentionally taking what isn't yours to score big at the casino. This developer sounds like a first-class moron and maybe even an addict who couldn't keep his impulses in check and his boneheaded choice didn't just screw over those users directly, it makes the whole industry look bad.

Fortify

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Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

Quote from: https://cointelegraph.com/news/solana-cypher-developer-gambling-scandal

The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:

“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”

His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007

https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic

It was not "money mismanagement", it was fraud - plain and simple. That money was under their control for an assigned purpose, when they decided to take it and fritter it away on gambling, they did so with dishonest intent. It was driven by greed, they thought they could beat the system and ultimately got eaten up by it. It's hard to have any sympathy for them, as they probably had multiple chances to stop early on but kept pushing through with disastrous results. I feel sorry for the many people who will have to go without now, as one person tried to take a shortcut to wealth against odds that were stacked against them.

lizarder

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Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

In the end, we can already guess and the use of this money will never work out well for him. In fact, in further cases the student will have much bigger problems. I have also heard of certain people who mismanaged people's money and tried to gamble because they thought they could make more money, but in the end they had problems with the law because the money was used up in gambling.

Quote from: Oshosondy on May 15, 2024, 05:41:12 AM

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

There are always interesting stories of people admitting they misused other people's money and even we will hear justifications that never make sense. Please gamble but don't use other people's money and scale your gambling responsibly so that it doesn't cause problems in the future. There are no good results from using other people's money in gambling or vice versa using your own money, but being responsible for your involvement in gambling is very important.

dezoel

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I think a person's mind must be completely clouded with greed and thoughts of winning a lot of money for them to take such steps. A sane person with the right mindset would never use someone else's money for gambling knowing that there are more chances of them losing it than winning anything with it because that's how the nature of gambling is.

Every person who loses someone else's money in gambling must have initially thought that they will make more than what they are given and then they will return the money to the owner and keep the remaining funds for themselves but what happens is they lose it all and then regret doing that, some would even take severe steps after that such as suicide, etc.

Topic: Be careful with people's money - page 13. (Read 2532 times)