Topic: Bitcoin and gambling which one has done you more harm - page 2. (Read 670 times)

The OP's comparison between gambling and bitcoin also makes me feel that the OP is underestimating bitcoin quite a bit. It is a potential asset, a technological breakthrough and is considered to bring innovation to the world's financial industry, while gambling is just a form of entertainment that can be addictive. Therefore, it would be lame and somewhat underestimating bitcoin to compare bitcoin with gambling. Bitcoin is on a much higher level than gambling.

Bitcoin has helped aid people from the control and power of paper currency.  Those who knows the importance of Bitcoin do not consider it like its toxic.
This has only be considered harm by those who wants to get rich quick using Bitcoin.

Gambling whereas, has lead to loses. Losers from Gambling and casino games are much more to compared to those who are winners.
Both can lead  to making good fortune only of you know what you're doing. Anyday any time I will merge them both. They have bads but I choose to focus on the good that can be generated from the bad.

If you are going to gamble - meaning playing casino games, EV-, you are going about it the wrong way. With Bitcoin, if you do the simplest thing which is Buy and Hold or DCA for at least one cycle you will get profits, while with gambling there is a mathematical certainty of losing money in the long run. There are some exceptions, like poker, if you are able to be one of those 5% of players or so that are winners, but people don't refer to that when they talk about gambling.


Of course, if they start from such a wrong idea, from a basic error, no wonder they get scalded.

And even if we were to take into account people like me who make money with gambling or a part of it, which would be poker, the advantage of investing in bitcoin is that it is passive. You buy and in the future you will sell more expensive (or you will be able to spend much more because of the increased purchasing power), while with poker you win if you play, they are active profits, and you have to bear the variance.

If gambling was to be like a crypto origin then I would have  said that Gambling is worth it but however, there are still people who it favours and those who think their luck is not in it. According to Encyclopedia Britannica online From the meaning you could see that gambling involves a contest for a lucky winner to by chance as captured to take the  prize of the contest. Which means that gambling
is not guaranteed for one to make profit but rather by chance if the odds turns in favour of the individual.

Bitcoin according to Satoshi We can see that bitcoin from the onset based on this explanatory from satoshi, Bitcoin is an asset so when it was turned into an investment, it was already foreseen by satoshi to be so and hence the price volatility which as well serves amongst the beauty of bitcoin allowing for more holders to be able to hold more and new entry as well.

I had to do this explanatory for a better understanding. We can see that bitcoin holds more potentials than gambling. Bitcoin has a long lasting life span and is not controlled by any individual but market demand and results to volatility which when utilized can fetch you profit either in the long or short term whereas gambling is controlled and possible game manipulation or glitch which might cause one to make loss without one knowing what is happening behind. So from this, you can deduce to know the possible answer.  Anyone who has had the taste of both end would tell better which is f more harm than the other.


Bitcoin
Gambling

Nothing can harm you until you give them the privilege to do so. It's not necessary what has harmed us so much, but gambling is a super quick process and BTC investments took more than a decade for the earliest investors to unlock the true potential value (jackpot prize) of BTC. Gambling gives quick results and needs luck, whereas BTC investments need you to hold for a longer term for it to grow (or lose) its value. So comparison of both isn't possible. 

A person is wrong, in the first place, if they are expecting to earn money from gambling, and they are wrong again if they skip investing in Bitcoin only to use that money for gambling with the same expectation again, to earn money. People really need to get one thing straight: gambling is not a way to earn money, it's not an investment option but it's a luck-based thing where you use your money and play some games and if you are lucky, you might manage to win some money but what history shows us and what we see every day, it's pretty clear that you are most likely going to lose money in it.

On the other hand, Bitcoin is a cryptocurrency, it is also considered an investment asset because of its volatility and since it goes up and down in value, it can be a way to earn money for someone if they know the right time to buy and sell and for which they will need to gather knowledge and experience before getting involved.

These two concepts are not related and they can never be compared. You have don't have use bitcoin investment with gambling, this is an odd comparation. The patient and long investors never loss or lost funds but in gambling the patient gamblers and long term gambling loss and lost funds very well. It is only trading you can use to compare with gambling and not investment. Investment is very much far better than gambling. Bitcoin investment is not something one can have profit instant but you have to wait for a period of time in a long time but gambling is instant profit scenario.

Losses from bitcoin investments are essentially assessed by their fluctuations in value - but as long as they hold bitcoin for a long period of time then there is a chance they can recover their losses. Additional strategies like accumulation are what allow them to recover their losses faster instead of waiting for the old ATH to be touched - but this is only done by anyone with a budget.

Day traders tend to lose more than investors - that's a result of price fluctuations. If they invest over a long period of time - then I believe they can avoid real losses as long as they don't sell at a loss.

There are people who see bitcoin investment is slow profit generating where in gambling, you can easily multiply your initial capital. It's different in it's own but if we are talking about profit, it's true that gambling can produce profit fast but the risk of it is so much higher compared to bitcoin investment. I personally had been addicted to gambling before and I know the fact that I lose capital more than I earn from gambling. It's one of the regrets that I had when I missed on investing on bitcoin because of my gambling addiction. I can say that gambling has far more risk than bitcoin investment not just on the financial side but on the mental side.

There is a significant difference between gambling and bitcoin. While some aspects of bitcoin resemble gambling, bitcoin is not gambling and, as an asset, cannot harm anyone if handled properly. In contrast, gambling poses a risk to your financial well-being, while bitcoin can be sold whenever you like. However, with gambling, if you lose, your money is gone. Everyone has the freedom to do anything they wish.  should remember that every choice has repercussions, thus as adults, I think we should always choose the appropriate course of action.

Gambling has done more harm than any loss of money in bitcoin done for the sole purpose of profit in my opinion. First off, with bitcoin at this point there are no longer long term detriments or consequences you should be scared about. Just hold enough of these at regular intervals and do your thing, eventually you’d start raking in the peofits in Newy York.,

With gambling this is not the situation nor will it ever be. You play, you lose, you make the casino richer. Rinse and repeat until you’re left with nothing. This is especially the case for those who chase profits in the gambling industry.

I've yet to see anyone who bought and hedl Bitcoin for four years that lost out. Even if anyone bought at the $18k+ peak in 2017 and waited four years they would've made profit in 2021. Those who bought at the peak of 2021 at an ATH of $68k+ won't be at a loss if they're still hodling now and waiting for 2025. I'm sure they won't if only they will control their itching thumbs.

The major problem with those who lose in Bitcoin investment is either they invested in Ponzi schemes using Bitcoin as a channel or they're simply of the school of thought that any investment in Bitcoin should be an instant hit to wealth and are so desperate not to be patient. Otherwise, buying Bitcoin is a safe place to throw one's money.

Bitcoin has existed for the past 14 years and it will continue to exist and develop further, it has never disappeared so it cannot be said that bitcoin has harmed anyone. Those who invest in bitcoin and lose money due to their own weakness should not blame bitcoin. It is simply an asset, a tool like any other tool for us to take advantage of to make money. So whether we make money or not depends entirely on our bravery, we should not blame bitcoin if we fail in investing.

Gambling is the same, it is just an entertainment game but many people abuse it and use it as a tool to get rich quickly. Everything is human behavior and human abuse, we should not blame any tool.

It's unfair to compare Bitcoin and gambling because they are not close in fairness at all, why not compare gambling with trading? Because the difference between these two isn't much, you can easily lose money in gambling and trading. Bitcoin investment is more reliable than gambling by far, all you need to avoid is...

1. Investing money you will be needing soon into Bitcoin, this will result in you having to sell your Bitcoin at any price that's for sale on exchange, even if its lower than when you bought it you have no choice, since you need the money, you have to accept your losses.

2. Learn how to keep your wallet private keys/ recovery seed safe, it is easier to exchange your Fiat currency into bitcoin as a beginner buy just following the exchange guides but it's tricky to understand the safest crypto wallets you need to use and the crypto wallets you need to stay away from, many people are already into crypto but they don't know the difference between a open source wallet and closed source wallet, not until they become a victim.

Gambling will do you more harm if you are desperate to make a large amount of fortune from gambling, this process was supposed to be a fun hub for sports lovers and roulette lovers, but many people have been brainwashed, thinking it's doable to make their dreams come true by gambling seriously.

Bitcoin has never done any harm like other failed cryptocurrency project that crashed that caused people to loss large amounts of money. Bitcoin is just volatile which everyone knows about and must invest according to the amount to afford to lose. If you understand bitcoin very well you don't need to lose even if the market goes down dip. It is only when one lacks patience that is only when one can lose but as far as one is still hodling even when the market falls their is no risk.  Gambling has done more harm to people who are addicted to it, I don't see why you will think bitcoin is as risky to gambling.

I really agree with you, if we can't control ourselves in doing these two things we will certainly experience losses in investing. We need to understand well the right time to buy or sell to get a profit from the investment we make, but in gambling there is very little the possibility of giving us benefits and if we have experienced an addiction it will certainly be very difficult to leave it.

Of course, gambling makes losses of everyone who joins in it, if you lose it will lose and disappear
And in Bitcoin it is said to lose if the price value of Bitcoin is lower than the value we bought before but does not lose at all we just lose the price value not the quantity of Bitcoi itself

If you use this both in the correct way,both the bitcoin and the gambling will not affect your asset.In the bitcoin,we should hold till the new rise in the bitcoin price.Panic selling is the unaccepted one in the bitcoin.The gambling negative is the gambling addiction can be solved by the gambler.For the regular trader,the bitcoin will be the best option.Many people was in this bitcoin trading before 2016 will have huge amount of the bitcoin.But gambling will give money sometimes and you may force to lose sometimes.

If you are gambling and you are aiming for profit, then you will spend all that you have on gambling without making any profit at the end. The primary aim of gambling shouldn’t be to make profit, it should be for entertainment and fun. If you want to make profit, then you should invest in bitcoin. I am not asking anyone not to gamble, but if you are aiming for profit in the long run, then just invest in bitcoin. If you are bored and you want to have fun, then you can gamble.
 
Both bitcoin and gambling haven’t done me any harm. I know bitcoin can’t do me any harm if I can hold it for a long time. It will be difficult to lose money in bitcoin. I have lost some money in gambling, but since I do gamble with a small amount, it doesn’t even affect me, and I got the entertainment that I needed from it. But most people who gamble for profit always end up regretting it at the end.

I think the phrase "Which have you lost more money" would have been much better than using "Which has done you more harm", because since it's true that people have lost money in both gambling & Bitcoin investment, creating a comparison thread such as this is not a bad ideal, which for me personally, I will say I have lost more money to gambling (i.e where you stand the chance to double your money or lose it entirely) than in Bitcoin investment generally (i.e whereby though the price of BTC may fall but it can always rise at any time).