Bitcoin and gambling which one has done you more harm - page 3.

serjent05

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Quote from: Ever-young on October 01, 2023, 07:44:35 AM

Have seen how so many people have already disagreed with the comparison between bitcoin and gambling, which I entirely agreed with them, as both don’t have any form of close similarity or any kind.

This is not a comparison as if they are the same. This is a comparison of experience on which oen gives more harm. So I do not think that we should raise an issue about this topic.

Quote from: Ever-young on October 01, 2023, 07:44:35 AM

I have not had any form of harm using bitcoin or buying bitcoin or what so ever means I have used to interact with bitcoin, the only time which I know I had a little lose was out of my own mistake which I tried to make a daily trade activity which made me do a little buy and sell without knowing that I have made a few lost due to my constant buying and selling thinking I was making few cent gain which should have not been so if I just purchase my bitcoin and become a holder their is not risk or harm that comes with that.

But I have entirely lost count of how many games and money which I have lost in gambling if I can recall correctly I can say I have lost more than I have ever won from gambling which has no means of coming back as they don’t create room for such.

Unless the person is impatience or has no knowledge of Bitcoin and has weak hands, he will never have any losses from Bitcoin because he will have the resistance to give in to FUD. So it is obvious that excessive gambling without any personal restraint can do more harm than trading Bitcoin.

On the other part, if a person does not know about bitcoin but still invest on it, and is shaken easily while he has more self-restraint in gambling andmoderate his gambling activity, the person could have more losses on Bitcoin trading.

So the answer is dependent on how a person deals with both entities.

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First of all it is not good to have a comparison with bitcoin and gambling. When it comes to bitcoin, it doesn't have any risk. What needs to be done is just hold and the perfect profit can be got out of it. With gambling scenario is completely different, because we risk and the luckiest enjoy the better result whereas the other suffer the consequences.

Majority could've lost most of their bitcoin holdings out of gambling. The reason is all connected with the greed. Also the growth of bitcoin price is the biggest reason for the greed. The increase in price tempts everyone to multiply the number of hold it for the better outcome. The reality is different and they were unable to to be on the successful side.

Distinctin

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Bitcoin is just a tool but gambling is a course of action that once you did it without caution, it will always bring you harm and make your life miserable. But gambling isn't always as it is, like putting a negative impression on it because it make us doomed due to losses. On the other hand, it will also make you instantly profitable and become rich in the process, only if you gamble responsibly and you know when to gamble and when to stop to. If you think you are losing frequently, then take time for a short break and just gamble again when you're ready to take the risk again.

TimeTeller

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Quote from: _Hiloveua_ on October 01, 2023, 11:29:57 AM

Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

Between Gambling and Bitcoin I consider gambling as harmful. Because when we gamble, we invest in btc, eth, usdt, etc., it can be seen that sometimes we can earn good amount, but most of the time we lose everything through losses. Gambling is an addiction that bankrupts many people. And on the other hand Bitcoin has changed people's lives. If you are a good observer, invest in Bitcoin. Will change your life, show the light of hope.

My take on this, is that both may considerably be harmful if you don't know how to handle your finances.
Just a good example in bitcoin trading, if you go into futures and you don't know what you're doing, for sure, you can easily get liquidated.
And when it comes to gambling, if you don't know how to contain yourself with your betting activities, sure, you will get addicted and your life will be ruined. But that is, if you are not taking care of your gambling activities to how much you can afford.
Either way, they have pros and cons. It is up to the user how he will take care of his business not to get trap in any trouble.

Yatsan

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If it is with loss, then obviously gambling has made a bigger impact. If you lost that much on investment then it should either be because you are not paying that much of attention with cryptocurrency news or you have your DCA wrong. Problem is with individual who are aiming to earn an amount they can produce woth the project itself. Bitcoin investment has its own risk. If it is with product or shop you bought your fags were, I’d be deski if ever bigger content graphics.

Orpichukwu

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Quote from: Fiatless on October 01, 2023, 06:10:51 AM

Comparing gambling and Bitcoin trading or investment is like equating buying gold and gambling. Nobody has ever lost investing in Bitcoin, people lose when they sell below the cost price because of mainly FUD. I said this because Bitcoin will always exceed its All-Time High (ATH) if investors patiently wait. Gambling is a get-rich-quick scheme while Bitcoin is a long-term investment. Gambling has ruined so many lives due to addiction but anyone who is addicted to bitcoin investment will end up making a good profit.

Gambling is not a bad habit but when one uses funds that can be used to invest in a viable sector like bitcoin to gamble, such person needs to amend his gambling lifestyle. To answer your question, Bitcoin has caused more good than harm while gambling disorder has caused so much problems in society.

Exactly what I was thinking: there is no world that could describe what I have in mind better for this kind of comparison than this, as I see such a statement as a direct insult to the bitcoin blockchain.

Bitcoin is a store of value and an asset that many use either as a means of saving or as a means to make profit in the long run, which has nothing to do with gambling because users have to put their hood entirely on luck, which, at the end of the day, always ends up losing money that goes directly to the gambling platform owner's pocket, and there is no way taking that back. Bitcoin doesn't have such features as it's an entirely decentralised system that is designed to favour everyone, not like gambling, which is designed in such a way that the casino owners have to be topping the list of winners all the time.

shepherd_gee

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Yes, Bitcoin and gambling shares a majority of similarities and differences. The both entails profit maximization and also channels to losses. But the great difference there is in gamble you lose every every, but you can only lose value of investment when you don't calculate and observe well in Bitcoin. Both gamble and Bitcoin have made people rich and as well have drastically recked people of their hard earned resources. One who is addicted to gambling will see one who is investing in crypto as doing the wrong thing same applicable to Bitcoin traders to gamblers. Its all about individual differences. Compare not your life with mine, cos what rocks my boat might sink your. As our faces are different, same out problems are. The both are good and bad. It's all about risk. Aloha!🕊️

_Hiloveua_

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

Between Gambling and Bitcoin I consider gambling as harmful. Because when we gamble, we invest in btc, eth, usdt, etc., it can be seen that sometimes we can earn good amount, but most of the time we lose everything through losses. Gambling is an addiction that bankrupts many people. And on the other hand Bitcoin has changed people's lives. If you are a good observer, invest in Bitcoin. Will change your life, show the light of hope.

Asuspawer09

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

When we gamble what we are looking after or expecting is money which is [profit] and when buy bitcoin and invest what we are looking after is [profit] and when you so many people they skip bitcoin investment to gamble and some uses very big amount of money to gamble whereas the same amount of money will achieve some fraction in bitcoin investment. So I come with this question to know the thing between this option or words I presented the one that done you more harm, if bitcoin has done you more harm during the times you invested in bitcoin you can tell the public and if gambling has done you more harm by losing in gambling frequently you can also tell the public.

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

I mean, to be honest, they are completely similar since gambling is gambling your money so it probably a fifty-fifty chance or could be lower depending on the game you gambling so most of the time you're probably going to lose money at gambling, there are probably people that is very lucky to win on gambling but there are only a few, and if your planning to gamble you're probably going to lose money as well.

Bitcoin on the other hand is different since it is a kind of investment, I mean for sure they have some similarities since they are both risky for your money, for sure if you do future trades we might call it similar to gambling since you just betting if the market price is going to go up or down right and if you get the wrong guess your going to lose your money. Compared to traditional investing in Bitcoin, you might lose a few or a huge percentage on Bitcoin, and until you sell your Bitcoin you not really going to lose money at some point.

So for sure gambling is going to do more harm to you if you do both gambling and Bitcoin, but still it would depend if you just gamble a small amount of money and just for fun I guess it wouldn't really matter much.

xzy887

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I am very hurt by gambling. I don't know whether gambling is halal or not. I lost a lot of money trading crypto. It was a futures trade. Many people say it is gambling and many people say it is halal. What is this actually?
And since losing there, I've come out completely.
So someone like me who doesn't have good knowledge about trade should not enter there.

Dr.Bitcoin_Strange

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Gambling is a different thing from Bitcoin investment, and each time I gamble, I only use the amount that I am able to risk for the fun I want to have at that moment. So, I don't overthink it any time I lose my bet; I only count it as one of the things about gambling. The gambler must definitely lose and is not certain about winning, but when I invest or purchase Bitcoin, I have the belief that one day the price of Bitcoin will definitely appreciate and I will make some profits on my investment. I am a fully grown adult, making my money by myself, so I know how much to allocate to gambling and the amount that is allocated to investment. A situation where I will only feel bad or biased if I intensely use the investment money to gamble and lose, but I refuse to make such a mistake.

Japinat

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Quote from: mindrust on October 01, 2023, 07:46:53 AM

Bitcoin is an asset. Assets do no harm to you as long as you manage your risks well. Gambling is on the other hand is a liability. Liability means, it takes money from your pocket. It is not making you any money, it is making you lose money. So comparing bitcoin to gambling don't make any sense because one of them is an asset and the other one is a liability. Owning some liabilities isn't always a bad thing as long as you don't overdo them. Owning a car is also a liability but we need cars so we can transport our physical body from point A to point B. We sometimes gamble too because we need to do some stupid shit because why not. (just like smoking and drinking alcohol)

Both of them can harm us but gambling could possibly harm us more especially if we fall into addiction. Many people get mistaken in their thinking about gambling as they consider this a way to make more money. It is undeniable that many people fall into gambling addiction instead of falling into investing desires.
Gambling could be something we might enjoy but somehow it can affect our finances badly if we lose control.
May we have different experiences in gambling and investing in Bitcoin but for sure we have seen already which one is more harmful.

Z-tight

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

BTC is alternative money for people who want to control their money themselves and avoid censorship, Gambling platforms are businesses that are open for people who want to stake their money and take the risk of adding to their money, it isn't compulsory you use either BTC or that you gamble, so i don't understand what you mean by "which one has done more harm".

People are told to gamble responsibly, even by the gambling companies themselves, and in the BTC community you'll also find out that you should not invest more than you can afford to lose, if you follow these simple rules, you would not have a problem, but if you go on and get addicted and do something crazy, then it's on you.

Bananington

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

When we gamble what we are looking after or expecting is money which is [profit] and when buy bitcoin and invest what we are looking after is [profit] and when you so many people they skip bitcoin investment to gamble and some uses very big amount of money to gamble whereas the same amount of money will achieve some fraction in bitcoin investment. So I come with this question to know the thing between this option or words I presented the one that done you more harm, if bitcoin has done you more harm during the times you invested in bitcoin you can tell the public and if gambling has done you more harm by losing in gambling frequently you can also tell the public.

Investment is to make profit, and gambling to some other people is also to make profit, but one can become profitable faster which is gambling, and not investment because it is not a pyramid scheme. Gambling has of course done more harm than investing, unless it is a gambler who steadily makes profit from gambling, but that is very scarce and rare to find. Investing in bitcoins will include making sacrifices to keep some money for investment and skipping indulgence in all the pleasure that the money can get you, just so you can invest in bitcoins. There is no harm, just profits for the future.

mindrust

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Bitcoin is an asset. Assets do no harm to you as long as you manage your risks well. Gambling is on the other hand is a liability. Liability means, it takes money from your pocket. It is not making you any money, it is making you lose money. So comparing bitcoin to gambling don't make any sense because one of them is an asset and the other one is a liability. Owning some liabilities isn't always a bad thing as long as you don't overdo them. Owning a car is also a liability but we need cars so we can transport our physical body from point A to point B. We sometimes gamble too because we need to do some stupid shit because why not. (just like smoking and drinking alcohol)

Ever-young

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Have seen how so many people have already disagreed with the comparison between bitcoin and gambling, which I entirely agreed with them, as both don’t have any form of close similarity or any kind.

I have not had any form of harm using bitcoin or buying bitcoin or what so ever means I have used to interact with bitcoin, the only time which I know I had a little lose was out of my own mistake which I tried to make a daily trade activity which made me do a little buy and sell without knowing that I have made a few lost due to my constant buying and selling thinking I was making few cent gain which should have not been so if I just purchase my bitcoin and become a holder their is not risk or harm that comes with that.

But I have entirely lost count of how many games and money which I have lost in gambling if I can recall correctly I can say I have lost more than I have ever won from gambling which has no means of coming back as they don’t create room for such.

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

When we gamble what we are looking after or expecting is money which is [profit] and when buy bitcoin and invest what we are looking after is [profit] and when you so many people they skip bitcoin investment to gamble and some uses very big amount of money to gamble whereas the same amount of money will achieve some fraction in bitcoin investment. So I come with this question to know the thing between this option or words I presented the one that done you more harm, if bitcoin has done you more harm during the times you invested in bitcoin you can tell the public and if gambling has done you more harm by losing in gambling frequently you can also tell the public.

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

You have therefore answered your own question. Why did you make the gambling and Bitcoin comparison? Bitcoin is completely different from gambling, as you are aware of yourself. I'm also confident that no one who purchases Bitcoin will ever suffer damage.

By providing chances to people around the world, bitcoin has changed the lives of millions.
Gambling is obviously a problem; countless gamblers have lost everything they had as a result of applying gambling improperly to their lives.

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Quote from: Woodie on October 01, 2023, 06:49:52 AM

I don't see any connection between gambling and Bitcoin here especially because they serve different purposes...for example you can use Bitcoin to play on your favourite gambling platform by using BTC as your currency and not the other way round.

As far as am concerned this comparison is as good as comparing a vehicle and fuel,one of them can be used by the other and not vice versa which makes this a bad comparison.

For some reason I feel this was a trading vs gambling comparison not until the last second you changed the wording Roll Eyes

Agree with you, this is a really bad comparison. Bitcoin is a currency, a decentralized asset that brings us useful utilities and use cases in life. Meanwhile, gambling largely created homeless people because of gambling addiction. That's a huge difference that makes this comparison ugly and meaningless.

Even with trading, I think we should not compare because trading requires knowledge, skills, experience and a person with all those factors can also make money from trading. But with gambling, luck is still what they rely mainly on to win.

lizarder

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

I also experienced a small loss when investing in bitcoin at the beginning and that was an important lesson for me, that when we want to invest the first step we need to do is understand the investment we are making. After that, I never experienced any losses when investing in bitcoin because I prefer to hold the long-term investment that I am currently investing in. Bitcoin will not cause losses to anyone if invested correctly and knowledge is one way that can combat these losses.

Everyone knows that gambling has a much greater risk of losing money compared to investing in bitcoin, but everyone can definitely handle any losses caused by awareness in living it. If we are not prepared to lose money due to losses when gambling then it is best not to continue because the only thing that can limit this is ourselves not other people.

Z_MBFM

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Quote from: Onyeeze on September 30, 2023, 06:01:38 AM

When we gamble what we are looking after or expecting is money which is [profit] and when buy bitcoin and invest what we are looking after is [profit] and when you so many people they skip bitcoin investment to gamble and some uses very big amount of money to gamble whereas the same amount of money will achieve some fraction in bitcoin investment. So I come with this question to know the thing between this option or words I presented the one that done you more harm, if bitcoin has done you more harm during the times you invested in bitcoin you can tell the public and if gambling has done you more harm by losing in gambling frequently you can also tell the public.

You can match Bitcoin with a string investment but not gambling with a strong investment. And gambling makes people highly addicted and its deep addiction compels people to continue gambling. But bitcoin investment doesn't make anyone deeply addicted. If you invest in Bitcoin, you may lose some money if the price of Bitcoin falls, but if you gamble, you will lose the whole money. However, to win gambling, you can get multiple returns in just 1 day, which is not possible in Bitcoin. so the thing that has more profit has more negative effect.

Quote

But for me I think gambling is the one that done people more harm than bitcoins investment, because almost every day people gamble with different platforms but its few of people that invest in a day or weekly, I will like us to discuss these.

Yes i totally agree with you gambling is harm people then bitcoin again gambling is done more happy people then bitcoin if someone has a great luck.

Topic: Bitcoin and gambling which one has done you more harm - page 3. (Read 668 times)