Bitcoin and gambling which one has done you more harm - page 6.

Apocollapse

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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]

Please don't make a majority claim by using your own thought, I'm not looking or expecting to make money through gambling, what I want is for fun and I already accept every money I gamble will lose on the casino.

Both of them haven't harm me, I always set a limit how much I can gamble every month and I really trust with Bitcoin due to decentralization, also I never looking for quick profit since I keep holding regardless the price is drop or increase.

uneng

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I think you are misunderstanding things a little bit. Gambling belongs to a different category than investment, therefore they can't be compared. Someone gambling in order to achieve the same goals aimed by someone investing in BTC is doing it wrongly and will face very negative consequences.

The problem is that we live in the Era of immediacy. People want to be satisfied now, and can't wait any longer for that. Gambling gives this false impression, so why are people going to wait years until Bitcoin hits a new ATH, since they can double, triple or make x10 profit in few hours through gambling? That is the mindset of our time.

And then we have gambling being harmful to a vast number of people who don't understand how the game works, what the risks are and what their chances are.

Don Pedro Dinero

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A great harm has not done me any, because I am not a degenerate gambler and as for bitcoin I am going long term but to qualify, bitcoin has only brought me profits and with pure gambling understood as casino games I suppose that if I add the total bet in my life and the total won I would be in losses, but slight I would say. In 2023 what I have gambled has not gone badly, I suppose because I have obtained better than average results.

In any case, if you want to avoid harm, invest in bitcoin for the long term and stop gambling and other stuff (like day trading).

Hypnosis00

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Too sad to know that many people have chosen to gamble instead of making an investment. And this is probably because we usually think that gambling could make us rich in an instant if we get lucky. Such thinking can be found by most gamblers, especially poor people and it should be corrected knowing the fact that our chances are very slim. I've found also that many people are willing to lose their money in gambling rather than investing as they really don't get the idea that investing makes our lives better while gambling takes our money from us.

Sanitough

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It should be bitcoin investing or gambling, and I think it’s very obvious that gambling is certainly harmful compared to bitcoin investment where chances to make massive profits is high. However, if you only invest in bitcoin due to greed without prior knowledge, that is still considered as gambling. Both can actually bring harm to you if you gamble to earn a living, and if you invest without diligently studying the coin you want to invest.

Blitzboy

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Your concerns are understandable. Its like choosing between two unknown roads. Bitcoin investing or gambling, which is worse? It sounds like gambling is the worst, and I agree.

What if some people prefer gambling over Bitcoin investing? We all know that rush; its hard to quit. Even if they may lose, it keeps them coming back.

Bitcoin buyers trust and invest in a promising technology and currency with capacity to expand. Not without danger, but calculated risk where you can study, keep educated, and make judgments based on facts, not luck. You may not get paid right away, but you're establishing a more solid and profitable investment.

348Judah

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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.

When comparing bitcoin to gambling, we should know that bitcoin is not a risk compared to gambling because when you're a bitcoiner, you're an investor and you have the best chances of making more money from your investment when the market surges than loosing your entire investment completely when the market falls, but insteadz in a bear market, you only loose small portion of the fund you have invested in, gambling is another thing entirely which is exactly what it was been called, gambling, when you gambles, you're a gambler and not an investor, you're taking risk but in catching fun and you have higher probability of loosing than winning, so people cannot make recovery of their losses in gambling but bitcoin can make you loose and recover everything with additions when you Invest and hold, people in gambling loose while bitcoin is an opportunity for changing lives better under financial economy.

cheezcarls

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I don’t think investing in Bitcoin can be compared to gambling. Although technically some would say that they should gamble on investing and holding Bitcoin, but it’s still not gambling but can be compared to stocks where you are also doing the same.

Gambling brings you more addiction than buying Bitcoin. Whenever you have winning or losing streaks, you intended to bet more money to play until you are out of control and funds are running out.

Buying and holding Bitcoin is much more of a safer route than gambling because even if it loses value you still have the same amount of BTCs in your wallet that could possibly gain when bull run comes again.

Latviand

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Quote from: Texac on September 30, 2023, 06:57:21 AM

But I want to ask you if there are any similarities between bitcoin and gambling? I mean comparing bitcoin to gambling, is it fair? One side is potential wealth and the other side is gambling. I don't think gambling has enough potential to compare to bitcoin or any other asset or financial market. Gambling is gambling and investing is investing, we should not make such lame comparisons. Why does no one compare gambling to stocks or forex, while we as bitcoin investors compare it to gambling?

There's no similarities, people just think of the old adage about life being a gamble and so they end up trying to to make it like all things are related to gambling when in reality it's not. Although it's a debatable thing, I don't think it's worth our time to ponder which is which and what are the distinctions. Gambling relies too much on luck meanwhile bitcoin doesn't, some might say that those who invested early were lucky but at that time, they didn't know the potential and they just bought in because they liked the concept.

tabas

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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.

It is a vague comparison on which did more harm to people. Bitcoin is an speculative asset for which everyone knows that its volatility can do either positive or negative to their money. Whilst for gambling, it's commonly known that the house always win and that's why when you gamble, you've got either 50/50 chance or lower than that. To myself, Bitcoin has never done me harm and I have never thought of it that it will have that impact in my life. In fact, it has done a lot of good things and it's one of the reasons why my life has changed a lot, for real. And with gambling, I'm just kind of neutral on it. I'm not a compulsive and severe gambler so the impact isn't pretty much for me.

yudi09

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In gambling there is no expectation of profit. The profits obtained from gambling are bonuses from the games played. This is different from expecting profits on Bitcoin from the investment you make. Losses may come from trades made because investment means expected profits in a short or long period of time.

Of course, there are more losses due to gambling than experiencing losses due to bitcoin investments. There are differences in interpreting losses and profits in gambling games with bitcoin investments so that it is not wrong to tell people the differences.
People who experience losses with bitcoin are people who use it incorrectly, for example wrongly and don't know how to trade and invest. Most people who invest long term will make a profit.

Texac

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But I want to ask you if there are any similarities between bitcoin and gambling? I mean comparing bitcoin to gambling, is it fair? One side is potential wealth and the other side is gambling. I don't think gambling has enough potential to compare to bitcoin or any other asset or financial market. Gambling is gambling and investing is investing, we should not make such lame comparisons. Why does no one compare gambling to stocks or forex, while we as bitcoin investors compare it to gambling?

Lorence.xD

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Actually both have downsides, cause we keep focusing on the "profits" which we're not taking notes on losses which will affect the expectation on the two. Investment and gambling is literally two different thing, they just similar into the money involved for you to start. If you started to invest your money, you could still expect a return even a small value depends on the market's volatility. While for the gambling once you lose the money, there's no chance for you to recover what you've lost only if you tried to gambling again and won it back, which is the negative side of gambling that might lead people to addiction, cause there's no guarantee you would won since it's based on luck. While in investment in Bitcoin, it would just differ on the calls you would do for you to profit or loss.

EL MOHA

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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.

Although almost everyone invest in bitcoin for profit purposes but I wouldn’t generalize it because most of the investors do not actually use only this as the advantage but rather they look at other options like it been an hedge against inflation and this is why they invest and just the return of investment advantage.

Bitcoin is in no where comparable to gambling because bitcoin can never turn in zero value when you invest in it. Just because of its volatility it could go down in price relative to fiat and as such when you sell during those period you lose some amount which is not what gambling is. Gambling doesn’t hold a single value once you lost because it either a profit or the other way.

Only Alticoins or investing in shitcoins can actually have the same effect in cryptocurrency with gambling because most of the shitcoins usually turn dust over time. But a bitcoin remains a bitcoin

Nwada001

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I don't see it wise to compare bitcoin investment and gambling. This is because when someone decides to invest in bitcoin (investing in bitcoin is different from going into trade using bitcoin), if you buy bitcoin and decide to hold it for a long period of time until the bull market will come for you to take home some profit, even if the market happens to experience some bearish season, if you don't sell off that instant and still hold on to your holding until the bull run will come, I don't think there will ever be any loss that a holder will record. You can only record a loss when you sell below what you purchased, if, out of your carelessness, you lose access to your key phrase, or if you make your wallet vulnerable to hackers.

But in the aspect of gambling, you will have to put in your money and try out your luck. If your selected game enters for you, then it's a win-win situation for you, but if it doesn't, you lose the money entirely, so the only option you have is to put in another amount of money, which you can use to try another luck if you can recover it or not, and the chance sometimes might be very slim.

EarnOnVictor

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Bitcoin can't hurt you not to mention do you any harm if you are the right investor and it has shown this track record since its inception. But gambling, no one needs anyone to tell them that gambling has harmed many already, especially if they do not apply wisdom to it. This still bottoms down to how you use your Bitcoin. If you use it for payment and investment, then you will always get to prosper in it, at least in the long run, but if you deliberately gamble with it, then that is no more the fault of Bitcoin but you who are taking gambling risk with it.

In other words, Bitcoin is an asset and you get to gain through your asset if you know how to use it well. But gambling, it's risky and it's very easy to lose money through it.

Onyeeze

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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.

Topic: Bitcoin and gambling which one has done you more harm - page 6. (Read 668 times)