I am only trying to stay safe by gambling less - page 21.

Crypt0Gore

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Quote from: tusandii on April 25, 2023, 09:17:27 AM

There are already many gamblers who want the same thing as you and unfortunately only a few can afford to be able to stay safe while reducing gambling because gambling is an activity that is difficult to stop because of curiosity and domains that are difficult to stop.
What's more, for those who have truly become an addict, it will be more difficult to reduce it, even forgetting about gambling for a moment will never be possible if someone is already an addict.
That is why it is important for a gambler to limit and reduce the gambling sessions that are carried out in order to avoid excessive gambling addiction.

Yeah, I guess that's the case with my friends, they started gambling before they have an idea what Bitcoin is and they have made a good amount of money from gambling, at that time I was busy learning about crypto and they believe that I was wasting my time, they have something to show for it and I never had any, that's why they still believe that they are better than me in every way, what they don't know is that I now know about gambling and I also have made a lot of money from crypto investment, I am not ready to prove that to them because of jealousy sometimes, I've noticed this and I am been careful around people.

I don't plan on proving them wrong but only time will tell, at that time I will be long gone and it will be too late for them to realize that I've been telling the fact all this time.

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

-cut-
Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

Well you can definitely compare gambling in sports to trading ANYTHING. But weirdly in your text you are mixing investing and trading with charts. Maybe you consider low frequency trading as investing?
But anyway, both trading with technical analysis and betting in sports are based on probability. You factor in the facts on about teams and conditions, like with cryptos you factor in the fundamentals and market conditions. And after doing that you'll estimate the probability of making a right call. Both of them has unforeseen circumstances as those are factored in on probability.

You got more gains with bitcoin and that only means we had been lucky to invest such an early stage and markets have been good for us so far.
After bitcoin hits it's ultimate ath, you'll see my point more clearly.

Nothing rises forever and we don't yet know where the cap is on that, it might be a $1 million or more or less. If your friends would have made 10000x gains on gambling, it still would be gambling as well.

You don't measure the definition of the word gambling by success you happened to have. When people bought btc at the start of it, they never ever saw it going this high. They were totally gambling with it. And fundamentals of it haven't changed.

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Quote from: Weawant on April 30, 2023, 12:32:20 AM

-snip

Gambling less is a good strategy to overcome addiction or not get addicted to gambling because it's very addictive. You have to look for other things to do to take you time so you won't have much free time to be thinking about going to gamble.

talking about the benefits there are 2 options, namely gamblers will win when they avoid gambling and don't come back or become bookies, that will be very profitable.

from some of the differences between investing in bitcoin and gambling using bitcoin, this is actually very different but sometimes one thinks too seriously about this. it's clear that investing is like saving when the price drops we won't really lose all our funds and there will be a time when the bitcoin price recovers or pumps and that's when we are lucky.
but gambling using bitcoins we deposit to gambling sites to bet and unlucky end up losing all the money. because as I said last time that gambling based on luck and investment is a strategy for managing ways so you don't lose too much.

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

~

Your friend's idea is not correct, your friend compared bitcoin investment to gambling. There is 100% risk in gambling investment but there is a risk in Bitcoin investment but there is ample opportunity to recover that risk later. If you are involved in gambling then there is a potential risk of losing your investment but not with Bitcoin.
Moreover, there is no specific age limit for Bitcoin investment, but for gambling, you must be 18 plus. Generally those who are studying are not banned from investing in Bitcoin but students are completely banned from gambling.

Weawant

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Quote from: Rigon on April 28, 2023, 06:25:35 PM

Gambling and Bitcoin investing are completely different things. When a person loses gambling, that person never gets his lost money back. But whenever a person takes a loss by investing in Bitcoin there is a time when that person can expect to recover the loss. And investing in Bitcoin can be highly guaranteed to recover from losses. So the thinking of your friends is completely wrong. Your friends may have got some winnings at present due to which they are more addicted to gambling. You become less addicted to gambling by holding on to Bitcoin investments. At some point your friends will be around you to prove that gambling is really different from investing.

Bitcoin losses can only be recovered if the person that invested doesn't sell, if the users sell then they'll be in lost. Bitcoin investing isn't gambling as more than one individual cam use the same strategy and get get same returns but in gambling it's no guarantee.

If you DCA and your friends does the same then both of you hold until the price reaches a new higher price than you both bought, that means you both made profits but with gambling it totally depends on how lucky you and your friend are.

Gambling less is a good strategy to overcome addiction or not get addicted to gambling because it's very addictive. You have to look for other things to do to take you time so you won't have much free time to be thinking about going to gamble.

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Quote from: Webetcoins on April 29, 2023, 06:15:31 PM

That definitely is a good point. People with no knowledge and experience about cryptocurrencies but still investing in them are simply gambling their money away and that cannot be considered an investment since they don't even know what they are doing in the first place, all they do is listen to some influencer and go ahead and buy a token straight after that.

There is no research, no analysis, no reading charts or even reading any news about how that particular cryptocurrency is doing or even what it's about, who is the team behind it, and how it operates. Without any of this knowledge, if you are investing in something, you are simply gambling.

What I find the most amazing out of the whole situation is that if someone was interested in gambling on the market of cryptocurrencies then those are in a way the right steps to do so, however those people actually believe that by doing that they have a good chance of making money, a ridiculous notion as it seems they do not understand that the markets are a zero sum game, and the only way to get any money out of them is by being better than the majority of traders out there.

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Quote from: cryptofrka on April 29, 2023, 06:56:42 AM

Quote from: Weawant on April 28, 2023, 06:15:32 PM

Your friends are very wrong, there's a very big difference between gamblers and investors although we do have people that gamble with their investments and this are different from real investors a d just those people looking for quick riches.

This really depends on how you invest and how you manage your portfolio.
A lot of my friends told me that they started investing and when I asked them what did they invest in, they told me they bought Safemoon or Muskcoin or even worse - 10 random NFT's.

This is gambling at its purest - you would have more chance of winning if you picked a number on a roulette table.

Investing is a skill. Most of the people investing in crypto are something entirely different.

That definitely is a good point. People with no knowledge and experience about cryptocurrencies but still investing in them are simply gambling their money away and that cannot be considered an investment since they don't even know what they are doing in the first place, all they do is listen to some influencer and go ahead and buy a token straight after that.

There is no research, no analysis, no reading charts or even reading any news about how that particular cryptocurrency is doing or even what it's about, who is the team behind it, and how it operates. Without any of this knowledge, if you are investing in something, you are simply gambling.

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Quote from: Oshosondy on April 25, 2023, 06:38:51 AM

Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

I am not a gambling addict but some friends are making me look like one because I gamble less and they gamble more, it all started when we got into an argument that investing in Bitcoin is not the same as gambling, my friends who are gamblers, not full-time but more of a gambler than I am, are claiming that there is no difference between investing and gambling, they said if all you doing is investing money on Bitcoin you are no different to those who are gambling in a casino.

If I were you, my simple answer is to accept that they are right, but because life itself is gambling. But I will explain further that if it is gambling using money for it on gambling sites, that investing in bitcoin is not the same as gambling on gambling sites, they are different.

If the argument continues and I explain further and they did not accept, there are some arguments like that, that will not end.

Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

Still, I refuse this because I believe they are wrong, Bitcoin market has charts and I am playing with charts even if I am a full-time Bitcoin trader, all I need to do is read charts, and if I am good at it I will win vs gambling, where it's you vs a company which we can never tell if their games are completely fair or not.

Trading that is even riskier is not gambling, not to talk of investing in bitcoin. You are correct.

At first you sounded so damn right but as you went on you made it complex. I think we shouldn't get into such debates at first place.
If some is arguing too much and is not ready to listen then we should just say yes and move on.
Life is so much more than spending time debating with someone. Instead we could spend time with someone who listens and involves in deep discussions.

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Quote from: Rigon on April 28, 2023, 06:25:35 PM

Gambling and Bitcoin investing are completely different things. When a person loses gambling, that person never gets his lost money back. But whenever a person takes a loss by investing in Bitcoin there is a time when that person can expect to recover the loss. And investing in Bitcoin can be highly guaranteed to recover from losses. So the thinking of your friends is completely wrong. Your friends may have got some winnings at present due to which they are more addicted to gambling. You become less addicted to gambling by holding on to Bitcoin investments. At some point your friends will be around you to prove that gambling is really different from investing.

When you have invest your money in Bitcoin and you haven't sold your coins, it's just an unrealized loss, not really a loss Wink

I never consider if Bitcoin investing is gambling because the highest dump of Bitcoin never touch 100% which mean your portfolio become $0, it's different if he's buy a shitcoin since it has a chance to multiply his investment in a day and has a chance the coin can be delisted in all exchanges.

Although it's mean investing is better than gambling when we talk to earn more money, but you need to enjoy your life and not 100% only focus to make money.

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Quote from: Weawant on April 28, 2023, 06:15:32 PM

Your friends are very wrong, there's a very big difference between gamblers and investors although we do have people that gamble with their investments and this are different from real investors a d just those people looking for quick riches.

This really depends on how you invest and how you manage your portfolio.
A lot of my friends told me that they started investing and when I asked them what did they invest in, they told me they bought Safemoon or Muskcoin or even worse - 10 random NFT's.

This is gambling at its purest - you would have more chance of winning if you picked a number on a roulette table.

Investing is a skill. Most of the people investing in crypto are something entirely different.

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Quote from: Twentyonepaylots on April 28, 2023, 06:47:58 PM

Quote from: Finestream on April 28, 2023, 07:25:24 AM

Bitcoin investing could fall into gambling if you are just investing because of greed, because your friends tell you to do so. If you are not actually aware of the risks you are taking and have no prior knowledge and experience about investing, surely the outcome will certainly like gambling. However, if you invest because you have gained utmost knowledge about bitcoin and you believe that it could bring you life changing profits, then most likely you will achieve a positive outcome that’s too far from gambling. But with gambling, no matter how good or expert you are in it, you will never give yourself opportunities to win because when you are already winning some profits, you still continue to gamble hoping for bigger profits, but eventually you lose them all and used up all your winnings.

Agree with these. Some of the people who gamble often have a same story where whenever they get to win some money, they tend to not take the profit but get fed up by their idea that they can get more profit. It is like they do not have that self control that they mostly end up losing their money and the profit that they should already have. In gambling, since it is still a game of luck, you should know that it is not always your lucky day, but if it is, you should learn to calculate the risk and take home profit and basically learn when to stop. Indeed that gambling less or having specific limit would make the situation better so that you can get yourself out of being addicted to it. In terms of bitcoin investing, one should indeed have knowledge on it so that the risk would be minimize and have self control as well. Also, learn to bounce back to your losses since, unlike gambling, here you can get back from your losses and actually get the profit you want at the end of the day.

I concur. Bitcoin bets? Success requires subtlety and self-reflection. They're exciting, but they're not a wise investment. You need modern-day Templar self-control to know when to stop gaming. The most successful investors understand the market and take calculated risks. Bring your wit, bravery, and knowledge. So what? Risk-reward balancing, like a billionaire art collector exploring a mysterious tomb. Know when to cease being pals.

Twentyonepaylots

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Quote from: Finestream on April 28, 2023, 07:25:24 AM

Bitcoin investing could fall into gambling if you are just investing because of greed, because your friends tell you to do so. If you are not actually aware of the risks you are taking and have no prior knowledge and experience about investing, surely the outcome will certainly like gambling. However, if you invest because you have gained utmost knowledge about bitcoin and you believe that it could bring you life changing profits, then most likely you will achieve a positive outcome that’s too far from gambling. But with gambling, no matter how good or expert you are in it, you will never give yourself opportunities to win because when you are already winning some profits, you still continue to gamble hoping for bigger profits, but eventually you lose them all and used up all your winnings.

Agree with these. Some of the people who gamble often have a same story where whenever they get to win some money, they tend to not take the profit but get fed up by their idea that they can get more profit. It is like they do not have that self control that they mostly end up losing their money and the profit that they should already have. In gambling, since it is still a game of luck, you should know that it is not always your lucky day, but if it is, you should learn to calculate the risk and take home profit and basically learn when to stop. Indeed that gambling less or having specific limit would make the situation better so that you can get yourself out of being addicted to it. In terms of bitcoin investing, one should indeed have knowledge on it so that the risk would be minimize and have self control as well. Also, learn to bounce back to your losses since, unlike gambling, here you can get back from your losses and actually get the profit you want at the end of the day.

Rigon

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

I am not a gambling addict but some friends are making me look like one because I gamble less and they gamble more, it all started when we got into an argument that investing in Bitcoin is not the same as gambling, my friends who are gamblers, not full-time but more of a gambler than I am, are claiming that there is no difference between investing and gambling, they said if all you doing is investing money on Bitcoin you are no different to those who are gambling in a casino.

Still, I refuse this because I believe they are wrong, Bitcoin market has charts and I am playing with charts even if I am a full-time Bitcoin trader, all I need to do is read charts, and if I am good at it I will win vs gambling, where it's you vs a company which we can never tell if their games are completely fair or not.

Furthermore, I told them that Bitcoin investors tend to get positive results, while online casino gamblers tend to get negative results more than positive result, true or false?

I asked them to show me prove that they make more from gambling than they lose, none of them showed me, but I prove to them that I hardly have losses investing in Bitcoin lol .

Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

Gambling and Bitcoin investing are completely different things. When a person loses gambling, that person never gets his lost money back. But whenever a person takes a loss by investing in Bitcoin there is a time when that person can expect to recover the loss. And investing in Bitcoin can be highly guaranteed to recover from losses. So the thinking of your friends is completely wrong. Your friends may have got some winnings at present due to which they are more addicted to gambling. You become less addicted to gambling by holding on to Bitcoin investments. At some point your friends will be around you to prove that gambling is really different from investing.

Weawant

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

I am not a gambling addict but some friends are making me look like one because I gamble less and they gamble more, it all started when we got into an argument that investing in Bitcoin is not the same as gambling, my friends who are gamblers, not full-time but more of a gambler than I am, are claiming that there is no difference between investing and gambling, they said if all you doing is investing money on Bitcoin you are no different to those who are gambling in a casino.

Your friends are very wrong, there's a very big difference between gamblers and investors although we do have people that gamble with their investments and this are different from real investors a d just those people looking for quick riches.

Anybody that doesn't research before they invest or take advise for their investment from random strangers on the internet either form watching youtube or TikTok videos are just gambling as they don't have solid reasos for their investment.

They're just been hopeful and that's how gamblers feel, they aren't sure of profits but only hope they get some when they win, investing gives guarantee of profits provided you have patience but gamblers are quick money seekers so they can't have patience.

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

I am not a gambling addict but some friends are making me look like one because I gamble less and they gamble more, it all started when we got into an argument that investing in Bitcoin is not the same as gambling, my friends who are gamblers, not full-time but more of a gambler than I am, are claiming that there is no difference between investing and gambling, they said if all you doing is investing money on Bitcoin you are no different to those who are gambling in a casino.

Still, I refuse this because I believe they are wrong, Bitcoin market has charts and I am playing with charts even if I am a full-time Bitcoin trader, all I need to do is read charts, and if I am good at it I will win vs gambling, where it's you vs a company which we can never tell if their games are completely fair or not.

Furthermore, I told them that Bitcoin investors tend to get positive results, while online casino gamblers tend to get negative results more than positive result, true or false?

I asked them to show me prove that they make more from gambling than they lose, none of them showed me, but I prove to them that I hardly have losses investing in Bitcoin lol .

Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

Gambling less make you lose less money, so if you do not gamble at all, you will lose nothing.

Also, trading is risky too and people lose money in trading too. So what if they do not gamble, they will not lose money at all.

I think you are talking this discussion in a wrong way. There are gamblers who will gamble no matter they lose or win. People have passion for gambling and they even enjoy and have fun while gambling.

Secondly, risk is involved in everything. If you gamble, and take risk, there is a little probability that you will earn big money as oppose to taking no risk and earning nothing.

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

Gambling and investment are two different categories. With Bitcoin investment, you are in control of your risk, you can sell whenever you wanted and can pull out your investment when necessary while in gambling once you set a bet and spin, it is either win or lose. You do not control the result and you cannot exercise risk management when you set your bet. Only people who have less knowledge of Bitcoin or just wanted to troll in saying that investing in Bitcoin is gambling. The information about the evidence of the difference between the two is spread across the internet.

EarnOnVictor

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Quote from: uneng on April 28, 2023, 07:22:22 AM

Quote from: arwin100 on April 28, 2023, 07:16:10 AM

Quote from: TheGreatPython on April 27, 2023, 11:14:24 PM

Quote from: QueenVera on April 26, 2023, 04:36:53 AM

Well I think at some point, your friends might not be wrong and asking them to show you probes of them making more profits than losses isn't a justifying reason to not count Bitcoin investment as not gambling because if you agree with me, you'll understand that there are people who are full time into gambling and are doing extremely very well in it as compared to some crypto traders.
You also spoke about studying the chart and comparing it to lives games and I also wanted to remind you that you can aswell compare this to soccer betting where gamblers also have to make predictions based on analysis as well and with this few points I think there isn't much difference between gambling and crypto investment since they both have to do predictions to Make profit.

I would say you don't have much knowledge about cryptocurrency trading if you are comparing it with gambling only because one needs to make predictions to get profit from both, which isn't always true when it comes to gambling since only sports betting involves predicting the future outcomes and all other forms of gambling are purely based on luck.

So wrong to compare it on trading since by looking at those two they have their own preferences and compare to trading there's a lot of way to gain or recover back when bad luck came to us. Compare on gambling where we only really on the luck we wish to come at the time we are playing and sometimes we execute all things in random manner. So with those things trading is really different and those two choices is incomparable.

I believe it's fine to compare gambling to short term trading, because there isn't actually any difference between both. You never know what is going to happen on the next hour or on the next day with Bitcoin price. Only long term trading makes more sense from an investment perspective, as that is how solid profit is made on this industry cycle after cycle, which pushes crypto market as a whole to upper marketcap's levels.

I wouldn't blame you if you are ignorant of trading, it's clear by your comparison of short-term trading to gambling, they don't just mix. It's unfortunate that many don't know the difference between gambling and trading, they are not just the same irrespective of the timeframe used or the holding time.

However, it's worth noting that you can gamble in trading if you don't know what you are doing be it short or long-term trading, yet it would be ill to condemn a well-established short-term strategy as a gamble when the trader knows what he's actually doing. The scenarios are just two different things.

In other words, traders only gamble when there is no basis for their decision, not otherwise as you percept it here.

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

Furthermore, I told them that Bitcoin investors tend to get positive results, while online casino gamblers tend to get negative results more than positive result, true or false?

Generally yes. With BTC investing, you actually have data on-hand where you can use it to your advantage. You can somehow forecast the price of the BTC at a given time due to several factors both intrinsic and extrinsic. This makes investing an opportunity and an advantage as well which cannot be done in gambling.

Quote

Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

It is definitely not the same with casinos. While both have the presence of risk, the risk is far greater in BTC gambling due to its nature. Like what I also previously mentioned, there cannot be an absolute result in gambling- the risk is too great for a person to risk due to the lack of any data to take advantage of.

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Quote from: Maslate on April 28, 2023, 03:06:56 PM

Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

I am not a gambling addict but some friends are making me look like one because I gamble less and they gamble more, it all started when we got into an argument that investing in Bitcoin is not the same as gambling, my friends who are gamblers, not full-time but more of a gambler than I am, are claiming that there is no difference between investing and gambling, they said if all you doing is investing money on Bitcoin you are no different to those who are gambling in a casino.

Still, I refuse this because I believe they are wrong, Bitcoin market has charts and I am playing with charts even if I am a full-time Bitcoin trader, all I need to do is read charts, and if I am good at it I will win vs gambling, where it's you vs a company which we can never tell if their games are completely fair or not.

Furthermore, I told them that Bitcoin investors tend to get positive results, while online casino gamblers tend to get negative results more than positive result, true or false?

I asked them to show me prove that they make more from gambling than they lose, none of them showed me, but I prove to them that I hardly have losses investing in Bitcoin lol .

Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

Both of you are right actually, because making an investments is also a gamble because we really don't know what will be the outcome. As if we know the outcome, will it still be called a gamble? Most probably, it's a hard no.

But by the way, does arguing about this thing got any advantage towards their gambling and your investments? You guys surely have a lot of time to waste because this kind of argument is pointless and endless especially if neither one of you will accept that one of you is right and one of you is wrong.

Gamble in a way that it does have less risks considering that you could apply some strategy or analysis into it, unlike when you do really gamble literally into those games been offered by the houses or platforms.
We do really be having that fine line which we could really make out some differences in between things but i do really totally that disagree that investment or businesses are really that truly a gamble on huge sense.
Yes, we are really that applying that risks taking since outcome or results arent really that guaranteed success but somewhat it is much more worth on dealing or establishing or involving yourself on this way.
We know that leisure or entertainment things arent really or something that couldnt be described to be included on such criteria. If you are really that seeing that gambling is way too risky and you
cant really just afford on spending your bucks through it then you would definitely choosing up on building a business instead. So its up to your choice on which one you would be taking into.

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Quote from: Crypt0Gore on April 25, 2023, 06:30:54 AM

~snip~
Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.

What you are telling, is a classic story that is common in our environment. If I were you, I would not engage in pointless debate. moreover, if they are stubborn people. but what you convey to your friends, is entirely your right to share the understanding that you know. We all know that investing and gambling are two different things. but not infrequently, many ordinary people think that investing is not much different from gambling. that's why, I say that this story is a classic story.

By the way, what you explained I almost completely agree with. however, there is a better explanation that the common sense can accept for people who do not understand what investing is, what is Bitcoin and what is gambling. if you have free time, you can give them a more detailed understanding but explain it in a simple way so that it is easy to accept. Don't forget that actually, investing involves risk. and those of us who are engaged in this industry, are very aware of that. maybe, your friend assumes, that in essence everything is risky. it's just that, there are differences that we can explain. suggestion, if you can practice it while showing the difference, maybe they will understand a little. because, if through debate, there will be no resolution.

Topic: I am only trying to stay safe by gambling less - page 21. (Read 3074 times)