Topic: How to be invested in Crypto while staying away from gambling? - page 6. (Read 1607 times)

Correct, it's hard to realized that you already losses everything before you acknowledge your mistakes. Allocating funds and make sure that it will be store or used properly, there's portion for entertainment and portions for good investment. Take higher part for investment that's a wise decision to make,  keep your entertainment with balance allocated money..

Thanks for saying that. And yup. Luckily I've escaped without hurting myself too bad financially, I've "only" ever lost out on potentially millions in profit, but never destroyed my non-crypto financial life.


Thanks for the link


The sleep-schedule comments hits home hard. I would watch every bet as well.



Well put.


In response to this (and other similar comments), I agree it's a potentially valid way to hold off the urge to gamble. There is a learning curve to it, though, and I would need to really dive into understanding it all. But yes, it can be done. I haven't ever fully tried committing to this route.

….thanks for the replies. Some great points and comfort in knowing theres similar people out there. It actually makes me think maybe I should engage with gamblers anonymous or something like that.

Your username is "thepatient", but it differs greatly from the reality that you have been through regarding investing in crypto.
Your biggest mistake is don't have patience and can't control your greed. According to the story you wrote in the opening post,
it was very clear you want instant profit. The key to the success of investing in cryptocurrency is patience, if you want maximum
results just holding cryptocurrency that you have at least 5 years. And don't use all cryptocurrency you have for gambling, just
use 10% for gambling. Please try the advice I gave, I'm sure you can succeed.

It should be a tough decision to manage your funds without any breaches of wasting huge quantities. Using enough amount just to satisfy your desires with gambling, that could be for fun within our control. Virtual money will be gone without noticing it, so you should act wisely before everything is too late.

Wow, it has been so long. You must know how exactly BTC and crypto is. Personally, I know about crypto was in 2017, almost at the end of the year. I wis I was you to know crypto earlier. But, I do not need to reglet 

There may be some points to have:
1. Self-control
It may be very difficult to control ourself, our emotional, and also our thought in the crypto world. Moreover, there is so many disturbance that can attract ourself and make us lost control. here, controlling ourselves is willing to sell, buy, invest, trade or a gamble is important. We may not be greedy, but we may also not be too afraid to take the risk. As long as we have known the ways to control our money, our asset of crypto, and also ourself, we may have better consideration, thinking, and also emotion (including "panic" as the worst thing that I ever had in the past).

2. Risk management
This is also very crucial to have in the crypto world, risk management. It may include in positioning the size (enter amount and also risk amount), Ratio of Risk or Reward, Stop Loss and Take Profit, Diversification (how many to hold, sell, buy), and include the personal attitude of the risks.

3. Chance taking moment
This is based on how we should take the chance at the right moment. It may be difficult. But it may relate to our strategy, thought, and also our best consideration to take the chance even in the limited moment.

Personally, I still make money from crypto by joining the signature campaign with the BTC payment rate and also doing small trading. Of course, loss and profits have become so usual for me. But, as long as we can manage it, I don't mind it too much. I'm not a big fan of gambling, so I only playing gambling when I really want to. But, it doesn't make me spend much money. Only certain coins on the online casino platforms that I sometimes follow.

Source:
https://coininsider.com/risk-management-in-crypto-trading/
https://news.bitcoin.com/the-importance-of-risk-management-and-psychology-when-trading-crypto/

There are two options if you are a gambler who can't keep your money like that for a long time. One is investing with it to somewhere, there are plenty of places that accept investment, mainly casinos, that way you will be keeping your money to gambling but also you won't be the one gambling, you would be the one who makes others gamble and lose.

Or there are places that give you interest as well, the most trusted one I know is freebitco.in where they give you 4%. You could also work with a coin that has proof of stake, or masternode, that way you could make money by keeping it and not diluting it.

Reading your story, you look like a person that wants a one-time big-time profit in one push.

You have lots of funds on-hand but still decided to risks it all with only relying in the future of those coins or doing gambling.

If you have time and since you are fine to take risks, why not take being risky on a higher level which is playing with the market trading. It might take time to learn but at least it you are not just relying on gambling returns.

I could not agree more. With the market fluctuation that we have been seeing for a couple of months now it is really better to trade than to hold to make a short profit. What these short trades can do huge is when you are doing marginal trading, futures trading with bitcoin since that coin is the most volatile one. On futures trading you could earn higher as what you have capitalized, contains more risk than a typical trading but think the reward you can get, you just have to analyze it correctly, what could happen in 15 minutes can get your capital double. Rather than gambling for a day and win $10.

This is actually a problem of self-control.Its really a regretting thing if you think back that you had invested to those projects into their earlier years or time and see them that they're flying with colors at the moment.
We cant really avoid to think back that if we able to hold it out after all these years then we surely have much more bigger profit but you do let yourself being controlled by gambling or shall we say that you are a gambling addict. Staying away? Set your mind not to play and follow strong self discipline, this wont be an easy one..If you do just really concern on making profits by means of investment then you will
somewhat avoid to spend out your cryptos for gambling.This do really depend on how sensible or serious you are.

Gambling isn't the only way to accumulate coins, traders had been accumulating for years without gambling and they may lose their coins at least they gain knowledge to what they did before and apply they learned later.


Easier said than done. Hard to fight it when you already have the urge. When the monkey on your back starts scratching the habits may not die until you find comfort in doing something else.

There are huge differences between investing and gambling, so someone who has really invested can never gamble with that capital. Not using that money to gamble, and not changing your investment decision to gambling is entirely up to one's own will. For this reason, I think that the real investor who has invested in crypto money can dominate his own wishes and does not use his investment in gambling. If there is someone who uses it, the purpose of that person is not to invest, but to gamble.

Nah, not gonna work out

OP has most certainly already tried something to that tune before. The root cause of the problem here lies in an erroneous short-term prioritization (in an obvious conflict with longer-term goals), and unless he deals with his priorities first in a productive and constructive way, these measures are not going to cut it. He will likely find a thousand (or more) excuses to gamble away the remaining half of his funds anyway. As I see it, the only long-term solution in this case is to change his attitude in such a way that gambling no longer remains a preferred choice. And that means looking and going for a more appealing and attractive use of his stash of coins other than gambling

I've been there a few times, started with a small deposit then once I started winning several times controlling myself became more difficult and my sleep schedule is all over the place because i'd watch most of the games i'm betting on(nba,tennis,rugby,cricket,etc). One of my solutions to avoid these mistakes is to find another activity and make yourself busy so you won't have time to make a bet then eventually you'll start to forget about gambling.

If you are passionate gambler it might be very hard to stay away from gambling.
But if you want something else that is exciting and you can make profit with, you can try with trading. Just have in mind that it could be more risky than gambling and you need to go through education process to understand the crypto market and how it's functioning.
Some compare gambling and.trading saying this is equal and claiming if you are successful in one of these you will also be successful in other. But that is not true and be sure you get pros and cons of both to decide what is best for you.
As long as gambling is fun for you, stick to it.

Before you invest your money, you should have a plan on how you fill your daily needs and pay your bills because that is what you need to do monthly. If you still have another money, then you can use the investment to grow your money so you can make another profit. And if the investment can give you additional income, then that is good, so you can continue to invest with the other gambling site. But remember that you don't have to use big money to invest in the gambling site because investing in gambling will have the risk.

I've also invested some coins in blackcoin and other pumped altcoins back in 2014-2016, but never really paid too much attention to gambling and instead just saw it as some leisurely activity to spend some of my spare dollars to. $20-$30 a session, which usually falls on a weekend isn't big of a deal to me back then while my investments range from a hundred to a couple hundreds and returns me quite a good sum. I know telling people to "not think about gambling" isn't going to cut it as a really fruitful advice but sometimes, it's those simple ones that actually work. I know that the urge comes from you thinking that your coins are just sitting and not doing any work for you but it's better than to lose it to a single gambling session and feel regret about it later on.

Instead of holding (as an alternative to gambling) you can try active trading

Most likely you are gambling because you can't look at your coins sitting idly. Trading is, of course, a longer road to success but if you are impatient, it may be the way to go, or at least to try it out. Once you get the feel and hang of it, you can put your coins to work in a way that you yourself consider meaningful (that's a must for a workable strategy). In that case, you will no longer feel the urge to gamble. In other words, you should first figure out why you act like this and then, with that knowledge in mind, consciously and purposely change your ways and behaviors

50/50 is a big money man! I suggest that first allocate your funds or monthly earnings into bills and to all of your needs and after that, if there's money that is available after allocating your funds and then, that is going to be your funds for gambling. Discipline is a must!!! If you don't want to be broke or you don't want to suffer for huge amount of loan, you need to discipline yourself.

Allocating your funds is the best way to invest and gamble, or rather invest and stay away from gambling.

How about splitting your funds into 50/50 the first half you invest in Cryptocurrency buy any desired currency and HODL it into your wallet or ledger and the other half you bet in gambling and casino's. But ultimately for this to work is you to set limits of bets like betting with small amounts so you wont lose it quick and to learn to strategize and win the game. But if you're unfortunate and loss then you shouldn't touch the first invested funds.

If you're this addicted to gambling then try to consider your investing in cryptocurrency project as a gamble maybe that'll help. It seems the urge to gamble is what's making you miss the great opportunity you have stated above, if you gamble on the ethereum ICO succeeding maybe today you would had been among the millionaire we have in the industry.