Topic: I am only trying to stay safe by gambling less - page 9. (Read 2882 times)

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.

I'm on the safe side because I don't engage in gambling activities, have never considered it, and don't want to be in a scenario where I have to pick between my properties and betting, putting one in a bind. I started with cryptocurrency earlier on, and with consistency, I'm taking some important earnings from the market, as opposed to gambling, which is unpredictable and inspires some hope. Gambling is risky, and we have both positive and negative information when we strive in the market, anyways its just the matter of decision triggered, I bet gambling have good tast for the addictive ones.

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.

The thing is that even if you don't have emotions involved, the math still applies, the casino has an advantage over the gambler, always.

So, in the long term there is no way that the gambler will ever win, the casino will always get the money in the end.

It doesn't matter if the gambler is not using any emotions and is very disciplined. Math tells you that.

@OP seems a bit different indeed, promoting a gambling site but he doesn't gamble and doesn't want to do it. Indeed, this is only a choice of gambling or not. But if the Op chooses to leave gambling and invest in Bitcoin that is also a good choice. Crypto investment will be made in the long term and it will provide more value. But I myself would probably do some gambling using just a little money as entertainment. This will require self-control so that gambling is not addictive and costs a lot of money.

Gambling, like everything else in life, can be a good thing if you keep control of it.

The same with alcohol, or any other thing that brings you some level of happiness, even eating food.

If you overdo it, then you will end up in a bad place. The problem with gambling is that it can be financially devastating really fast, so you always need to be in control.

I think gambling and investing are two different things. If you invest there is no chance of losing all your money. But if you gamble and lose you will lose all your money. And if you invest you will have very little profit.  .Gambling will give you more money than your investment if you win. So I think there is a big difference between investing and gambling.

Gambling, like everything else in life, can be a good thing if you keep control of it.

The same with alcohol, or any other thing that brings you some level of happiness, even eating food.

If you overdo it, then you will end up in a bad place. The problem with gambling is that it can be financially devastating really fast, so you always need to be in control.

~snip~
@OP seems a bit different indeed, promoting a gambling site but he doesn't gamble and doesn't want to do it. Indeed, this is only a choice of gambling or not. But if the Op chooses to leave gambling and invest in Bitcoin that is also a good choice. Crypto investment will be made in the long term and it will provide more value. But I myself would probably do some gambling using just a little money as entertainment. This will require self-control so that gambling is not addictive and costs a lot of money.

It is okay if he promotes a gambling site because he has the choice to gamble or not. And if he chooses not to gamble, so much the better for him because he can save money for other things. But if he decides to use some of his money to gamble, that's fine too. At least he can have a gambling experience like the others, but he has to have self-control and everything else so he doesn't become addicted to gambling in the future. And it would be even better if he used his money to invest in bitcoin so he can get a chance to profit when the bull market arrives.

Yeah, as long as you still hold and not sell your Bitcoin during dump season, you're not lose, but it's still an unrealized lose.

The @OP is promoting gambling site, it's hilarious if he need to stay away from gambling because he need to gamble, exploring and know about it as his campaign need to post in gambling section. If @OP want to stay away from gambling, he need to avoid anything related with gambling in the first place. But it doesn't mean gambling is bad, gambling is good if you have a good self control and money management.

This is not really accurate, when you invest in a good asset you have a legitimate chance to make money but this does not mean that you cannot lose, in fact a great deal of the people that invested in bitcoin lost their money as they were unable to hold their coins for long enough to produce profits, and if this is true for bitcoin, which is the best coin we have on this market, then this is true as well for all the people out there which like to invest in altcoins and like try their luck with them.

I think gambling and investing are two different things. If you invest there is no chance of losing all your money. But if you gamble and lose you will lose all your money. And if you invest you will have very little profit.  .Gambling will give you more money than your investment if you win. So I think there is a big difference between investing and gambling.

Discipline is a very good thing in every facet of life, but in addition, you should have a good plan when you are disciplined in gambling. It entails a foolproof approach that would sustain you for so long. But at times, it's easier said than done as emotion is a spirit and it lives in everyone, if care is not taken, emotion will overcome the discipline and the results would be catastrophic. This is why I would like to include the right budget in this discussion, it might be a daily, weekly or yearly budget.

This is a way to calculatively plan, which could also help our weakness by not letting emotion overcome us. After all, you might have known the maximum daily amount to bet, so it will not affect you when you lose and immediately abstain from betting till the next day.

Both gambling and investing in bitcoins are risky but the difference is that if you lose gambling your funds will be gone immediately and your balance will be zero. But if you invest in Bitcoin, even if the price of Bitcoin goes down, you can hold it for a long time and at some point it will recover your losses and give you a profit. So investing in Bitcoin and gambling are not the same.  Investing in bitcoins will save you some money but gambling and losing will not save your money in any way. So if you can stay away from gambling it will be great for you but you can continue to invest in Bitcoin but in this case you must be patient and hold Bitcoin for long time.

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.

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... , but what is clear is that spending money from gambling wins will be easier compared to money earned by working or doing business.

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.

Yes, I definitely agree. When playing gambling activities, we should just take enough with us so that we can stop our activities immediately if our capital runs out and in that way, we can avoid from spending too much especially if we're already in a lose streak and we have that certain feeling where we feel an urge to get those money back when in-fact that is surely an almost impossible thing to do because all gambling activities are designed to make the house in the advantageous side. Thus, overspending will likely get us into an unwanted situation that we surely don't want to be in.

I follow your last statement, discipline is very important on both sides, knowing your limitations and having the right set of expectations and proper executions, you may get some edge either in gambling or in trading, though if you don't have that discipline and you allow your emotions for sure the outcome will never go to your directions but most of the time it will turn against you.