I am only trying to stay safe by gambling less - page 22.

rahmad2nd

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Quote from: Crypt0Gore on April 25, 2023, 07:30:54 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.

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Quote from: Crypt0Gore on April 25, 2023, 07:30:54 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.

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Quote from: Ondekinecakabilirim on April 28, 2023, 02:56:51 PM

Quote from: Crypt0Gore on April 25, 2023, 07:30:54 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.

I certainly wouldn't categorize these two in the same position. I guess your friends have no idea about Bitcoin. If they had an idea about Bitcoin, they wouldn't think so. To show them the truth, you must first inform them about Bitcoin. I think right now they don't have enough knowledge to evaluate the two concepts properly. Because someone who has the right information about both concepts would not make such a statement.

Yeah, there are some people that have heard about bitcoin, but are still very ignorant of it in terms of knowledge, and for some, ego is the emotion that does allow them bring themselves down so as to learn from those that are more experienced in this area, most especially, when they feel they are already doing well financially, and not really interest in trying something new...

Anyone with good knowledge of bitcoin will never consider trading the same as gambling, it's a noob attitude to believe such.

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Quote from: Crypt0Gore on April 25, 2023, 07:30:54 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.

I certainly wouldn't categorize these two in the same position. I guess your friends have no idea about Bitcoin. If they had an idea about Bitcoin, they wouldn't think so. To show them the truth, you must first inform them about Bitcoin. I think right now they don't have enough knowledge to evaluate the two concepts properly. Because someone who has the right information about both concepts would not make such a statement.

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Let me just say, the copium huff is so hard on your friends' parts.

Sure, there is risk involved with gambling and investing, hell I can even agree with them in the fact that they said investing is pretty much like gambling. But the fact of the matter is, at least in investing, certain practices, disciplines, and knowledge are there to help you become successful in your craft, and in turn earn money in the process. In gambling you pretty much crank the lever and hope for the best. No thought involved, risk ceiling as high as you can put into the table, and the benefits not even going to last you over your lifetime, at least statistically. So in the grand scheme of things they are still losing big time while you on the other hand, casual gambler as you are, gain profits in the process.

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Quote from: Hispo on April 25, 2023, 10:49:36 AM

Investing in an asset as Bitcoin is not gambling, if you have a plan or if you are into it for the long term. Actually, I recall reading some news a couple of years ago about a study performed by some university, they gave some money to gamblers and make them trade Bitcoin on an exchange, they lost all they money, because im the end they did not even have a plan and did not even know how the read charts or indicators.

If you were putting money into shitcoins, then I would argue that you are closer to gambling than your would if you were trying to profit off Bitcoin.

The difference between trading and gambling is the fact trading is not only about luck, but other economical factors which can be predicted, unlike slots, dices or plinko. You are right, your friends are not. Gamble responsibly and trade wisely. Wink

Investing has risks because there are fluctuations and we can't predict the flow of things therefore we can consider them as gambling. it's important to have a plan in everything that you do so that won't feel lost.

That's a nice experiment they conduct there but maybe all of those people involved are unlucky because luck can still make them win even without a true knowledge about trading but if they make things seriously, they can learn trading and multiply that money but they didn't even bother because it wasn't theirs anyway and then their profession is through gambling only. The OP's decision to gamble less is great and we must follow it too if we are a heavy gambler.

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Quote from: Crypt0Gore on April 25, 2023, 07:30:54 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.

Why are you arguing with regards to this one at first place?
I mean they are gamblers, so obviously they see investing as gambling as well because what they are thinking right now is whenever you put your money into somebody, and you have the chance to lose your money, it is gambling. They think of everything as gambling.

Investing can be, and cannot be gambling depending on your approach. Investing into something that you know, and you've made research into it can't be called gambling IMO. On the other hand, investing into something that you don't fully understand is comparable to gambling already.

Quote from: Crypt0Gore on April 25, 2023, 07:30:54 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?

It depends.
Both Bitcoin investors and gamblers can get more negative results than positive ones. If you're a Bitcoin investor, you can make more mistakes than corrects when you invested without proper knowledge. On the other hand, in gambling, if you aren't lucky, you will not win thus you will make more losses than wins.

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Quote from: alastantiger on April 28, 2023, 08:20:15 AM

Quote from: Oshosondy on April 25, 2023, 07:38:51 AM

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

Trading is the extreme of gambling. And the risk is even higher and very significant.The OP or anyone doesn't need to expend your energy on arguing about the obvious. I have always known that gamblers will see everything as gambling and you can't really blame them it is just how their mindset has already been configured.

If you're a good trader and have interest in gambling as well, I don't think you can have much challenges because the two have one similarity which is risk, you must take this risk in doing any of them, but know that there's a clear differences between trading and gambling because they are different, gambling with moderation will also helps in staying safe while taking care of of your steps will serve a precaution to going outrageous.

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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.

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Quote from: arwin100 on April 28, 2023, 08:16:10 AM

Quote from: TheGreatPython on April 28, 2023, 12:14:24 AM

Quote from: QueenVera on April 26, 2023, 05:36:53 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.

Anyway, OP shouldn't engage into a competition with addicted gamblers to find out who gambles more or who is right on this matter. These guys are going to lose money sooner or later, and for OP it's better to be far from them once this happens.

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Quote from: Oshosondy on April 25, 2023, 07:38:51 AM

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

Trading is the extreme of gambling. And the risk is even higher and very significant.The OP or anyone doesn't need to expend your energy on arguing about the obvious. I have always known that gamblers will see everything as gambling and you can't really blame them it is just how their mindset has already been configured.

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Quote from: TheGreatPython on April 28, 2023, 12:14:24 AM

Quote from: QueenVera on April 26, 2023, 05:36:53 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.

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Quote from: gunhell16 on April 28, 2023, 04:40:34 AM

First of all, you don't have to argue with him. Because we each have our own beliefs and many things that are not the same. Of course, if you insist on what you know and he does the same to you, for sure your argument will never end.

So it's best to let him do what he believes and just keep quiet because you don't lose him if he doesn't believe in your beliefs.

I do tally agree with these words considering that if someone would really be fighting for on whats right on his mind or something that he do believe then it would really be a never ending kind of argument on which it would really be that certain that it would really be a long story but its really true that its none of our business if someone do really look up that way. Better not to waste your time on making some explanation to someone about risks in neither gambling or investing because it would really be that totally different if we do speak about investment and leisure thing.
If you do see that it is the right way to be done then go ahead, we do have our own lives and we do have our own money for us to spent out whether we do go trading or would be doing gambling.
Getting yourself being safe is on how you do know on how to make lesser chance of spending much money or losing that much but if you do go for leisure and dealing with
gambling then it is really just that part.

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Bitcoin investing in casinos will have to wait patiently to make a profit bitcoin is a reliable currency with more positive results than negative ones. Gamblers will have to wait until the bull run to see the face of profit bitcoin casinos are popular for accepting bitcoin, an alternative payment method and currency that is never bad to have. Always make sure to backup payment methods that you feel are safe and reliable bitcoin casinos differ from regular online casinos due to their fast transaction times.

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Quote from: poodle63 on April 26, 2023, 10:11:03 PM

Everything is gambling. Even if you are running a business and you were also gambling with your luck. if you are lucky enough and you will get a success but if you were not lucky enough and you will be failed. Life is about how luck your are.
What your friend said was the truth. Investing = gambling. Even if you are only holding your bitcoin and it can also still make you lose your money. That's the point.

There are inherent risks associated with everything in life, and it is not fair to compare the risks involved in a simple business to that of gambling. There are some businesses that may be riskier than gambling, but for the purpose of this discussion, I will assume that we are referring to a simple business.

Gambling, or betting, is a much riskier venture that you cannot engage in on a daily basis, and it requires luck to be successful. My advice is to approach gambling with a more relaxed attitude and not to stress too much about winning every time. If you become too obsessed with winning, you will only experience continuous losses, it should be fun and the experience but when money comes, be happy that you make some.

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Quote from: Crypt0Gore on April 25, 2023, 07:30:54 AM

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?

You will make a profit holding Bitcoin but on gambling, there's no way you can make a profit even if you are patience and employ the best known strategy, anything will not work in gambling in terms of profit

Quote

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 .

I'm sure they cannot and will not because if you check their betting history the losses stack up than their winning

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.

The only risk of investing in Bitcoin is the long wait from bear to bull run, that is experts' advice not to put in your emergency saving or your retirement pay just allocate a portion because FUD will not leave the market, but between the two investing in Bitcoin will yield you profit if you have patience and persistence to HODL.

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As an investor, I'd agree that investing is a form of gambling as well.
Every trade I take has a risk element, and I base my setups on defined risk/reward calculation.

It's almost the same as in a sportsbook, the trades that have higher risk/reward are way more risky, as is betting on an outsider in sports betting.

The main difference is that when betting/investing, if you're good enough you'll be able to turn the odds in your favor - especially in trading.
In casinos that's not really the case, casinos have defined house edge and if you gamble a lot, there's a high chance of you being net negative.

Casinos nowadays market themselves as entertainment providers, and I do agree with that. It's fun to play, and there's always a chance you'll win something. Just don't count on it Grin

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First of all, you don't have to argue with him. Because we each have our own beliefs and many things that are not the same. Of course, if you insist on what you know and he does the same to you, for sure your argument will never end.

So it's best to let him do what he believes and just keep quiet because you don't lose him if he doesn't believe in your beliefs.

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Quote from: QueenVera on April 26, 2023, 05:36:53 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.

do you believe your statement comparing gambling to crypto investing and think both are the same? or just because your predictions think the two are the same?
one thing you really have to understand here is that gambling is based on luck but investing in bitcoin is like saving.
if you buy bitcoins and use betting on sports betting for example your favorite team and it looks like you win you bet all the money you have but in the last minute the game turns into a surprise when the team you choose loses, are you still talking about a profitable prediction ?? ?

an example of investment, for example, you buy bitcoin when the price is $ 29k after a few months it drops to $ 26k and after 1 year the price rises again to $ 50k and you get a profit. from here do you still mention that gambling and investment have similarities in terms of predictions?

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Quote from: QueenVera on April 26, 2023, 05:36:53 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.

On the other hand, you don't have to go through any losses if you can't predict the outcome correctly in trading unless you are doing futures trading which is somehow related to gambling since you can get liquidated if the prices go the other way than what you've predicted, but that's not really all about trading.

Topic: I am only trying to stay safe by gambling less - page 22. (Read 2882 times)