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Topic: Bitcoin and Gambling - page 3. (Read 413 times)

hero member
Activity: 560
Merit: 511
April 15, 2023, 03:57:39 PM
#1
I will not say that bitcoin and gambling ate the same because bitcoin is a digital currency,while gambling is an activity that is carried out by human for pleasure.
From my own point of view bitcoin and gambling have some similarities in common for someone that want to partake in them. These are as follows :
--Use money that you can afford to lose: This applies to both. If one wants to invest in bitcoin, you will be advised to use the money that is not made for other important needs to buy bitcoin. So that going into long term investment can generate you with a good profit. One the other hand if you use the money for your important needs to purchase bitcoin,when the time comes for you to be in need of the money, you will end up selling your bitcoin even though that the price is below what you bought it. You might still end up selling your bitcoin due to panic and this will lead you to lost.
 This goes with gambling, if you don't use the money that you can afford to lose,you have paralyzed the fun in gambling,because if you are losing, you might keep on chasing your lost and this will lead to to losing all that you have on you.
--Having the knowledge of it : Anyone that wants to invest in bitcoin needs to have the proper knowledge of it. This will enable you to monitor your investment and to be patient with it,until when the bull market arrives,you can sell if you are okay with the profit that has accumulated. You indeed need the knowledge to know how to secure you bitcoin and the type of wallet,in order to safe guard your investment from scammers and being victim to centralized exchanges.
  Likewise gambling, if you don't have the knowledge of the game that you want to stake on,you will end up losing every time that you play. This is because you lack the skill and strategy you need to win the game. For example poker,you will only win on your lucky day,since gambling sometimes is based on luck.

--Part of human nature : Bitcoin is a digital currency and it is important that human have something of great value,in which they come in agreement to be used for trading and it will be accepted worldwide for easy transactions. Before fiat currency came into existence, cowries,silver and gold was use for international trade. Fiat currency took over from gold,bitcoin is an alternative currency which can be used for international transactions in replace of fiat currency.
  Likewise gambling, which has been in existence since the creation of man,because gambling is part of human nature and human invented gambling,because it is a means of entertainment and for fun.
--Patience : Bitcoin investment needs patient for an investor to make profit from it,it is not a get rich quick investment. After the halving,when bitcoin ATH comes,only the patient ones will make huge profit from their investment, regardless of how much that they invested.
  Likewise gambling, you need to be patient with your gambling activities and don't let your emotions control you and don't be greedy,so that you can easily quit the game you are losing and try again tomorrow, with the hope that tomorrow will be a lucky day.
--Discipline : Investing on bitcoin needs discipline for you to be able to accumulate more coins for yourself during the bear market and hold for long,till the bull market. Some persons can't just take their mind of their savings. They easily go to their savings,if they are faced with little difficulties that they can take care of without touching their savings. It is one thing to have a savings and another thing not to temper with your savings till the appropriate time that you planned for.
  Gambling also needs discipline, which I will call self-control. When you don't have self-control over your gambling activities, by setting out an amount and a particular time duration for gambling, you might end up to become an addict, which is unhealthy to human.

--Fun and entertainment : Finally,accumulating you bitcoin gradually and seeing the price pump gradually time to time,gives you joy and you will be excited towards the price pump. I know this might be wrong to some other persons but this is what I feel.
Tell me what is your opinion on this.


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