Investing in Bitcoin will bring you hope and gambling will leave you destitute. - page 4.

erep

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Quote from: Promocodeudo on December 25, 2023, 09:35:22 AM

I agree to what you said, a gambler does not concentrate on his loss, they always feel that when the lose there is always a good opportunity to win, this is the mindset of a gambler, investment is not a second thought for them, my problem with chronic gamblers Is that they don't consider their lose, this money they are using to gamble uncontrollably can be used to invest in profit geared project not necessarily bitcoin, there is no comparison with bitcoin investor and a gambler because in Bitcoin your money is not lost, the price may depreciate but the value will remain the same but in gambling when you stake and lose your money is gone no little left.

The comparison side may be that investment and gambling have different concepts of use, but the correlation of utilization or use of funds must prioritize investment over gambling, many people experience depression due to losing from gambling and they leave many high loans that cannot be repaid because they have lost everything financially in gambling, they don't even have money for living needs.

However, bitcoin investments will be different and no one will fall into poverty from bitcoin investments because they still hold the same value of the asset only the price is corrected, bitcoin assets can potentially be recovered due to bullish market like current market conditions and many people have made high profits from bitcoin investment.

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Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars.

Likewise...he has bought some BTC alone or after the last crash, whether with a small or large balance, it will not only cover your brother's debt of 18 thousand dollars but the investment may be enough to rest for a while and even that It can be used as preparation for retirement funds as well and is very possible.

In my opinion, maybe it was the influence of environmental factors that caused older brothers in your area to fall into this circle, whether there was a special invitation or whether they initially just wanted to try it. If he had used common sense and not followed the disregard I think this incident could have been avoided and would not have left him poor, neglected by his family in the end.

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Quote from: Fuso.hp on December 25, 2023, 08:38:44 AM

Quote from: Alpha Marine on December 25, 2023, 08:27:12 AM

There's a saying "Gamble responsibly". What do we think that saying means?
When we see "drink responsibly", what do we think it means?
It means we are allowed to drink (that's if you're up to the age of drinking in your region) but you should do it responsibly. Know your limit and don't go above it.

Not everyone can gamble responsibly by fulfilling their responsibilities. You may not take gambling seriously but there are many people like the one I mentioned who have lost everything in gambling. The brother I mentioned is a government employee and if he was satisfied with his salary he wouldn't have gambled mainly because his gambling aim was to earn a lot of money overnight. He is now burdened with debt due to his desire to earn huge amount of money overnight. Sometimes we need to learn from what happened to some people so that the same thing doesn't happen to us again. Hopefully the common gamblers have gained some understanding of the horrors of gambling addiction.

If the intention of this topic is to serve as lesson about how devastating gambling is then there’s a lot of worst incidents than this that involves much higher amount and some took their life due to their lose yet people still gambling. You know why? Because of the entertainment and hope to get a quick rich. There’s only few cases like you mention compared to normal gamblers that can still gamble responsibly. I doubt creating such a warning like this will discourage motivated gambler to stop gambling.

You’re right that not all people can gamble responsibly but it’s pretty common even on other aspect of life such as trading, investment and etc which people are bad on doing it.

Promocodeudo

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Quote from: GigaBit on December 22, 2023, 08:44:19 AM

No matter how hard you tempt a gambler to invest in reality, he won't find much interest there. Because he wants to see his money change quickly. After losing so much money, your brother may now realize how much damage he has suffered due to his gambling addiction. He took gambling as a platform to earn money. Maybe your brother now realizes his mistakes but he is unlikely to get that money back. This may be a cautionary message to such gamblers in this thread who are into gambling for income rather than entertainment. A few months ago Bitcoin hit its all-time low below $18000. Today, those who held Bitcoin at that time have managed to make around 1.5 times their profits. Investing and gambling are completely different. Gamblers will not be compatible with those who believe in investment.

I agree to what you said, a gambler does not concentrate on his loss, they always feel that when the lose there is always a good opportunity to win, this is the mindset of a gambler, investment is not a second thought for them, my problem with chronic gamblers Is that they don't consider their lose, this money they are using to gamble uncontrollably can be used to invest in profit geared project not necessarily bitcoin, there is no comparison with bitcoin investor and a gambler because in Bitcoin your money is not lost, the price may depreciate but the value will remain the same but in gambling when you stake and lose your money is gone no little left.

Humblevirus

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Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts. If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling.

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

Honestly, if he had invested in bitcoin, he should have been in good profit by now, but the truth is that not everyone knows about bitcoin investment; many people are just hearing about it, but I don't think they know about it as a good investment.

And again, gambling is a temptation. Someone cannot easily say this is how much they want to gamble, and when it reaches that certain amount, they will stop. Gambling is hard to control because it always comes with the hope that you will later win, especially when someone is addicted. I believe this $18k the person is owing; he did borrow it at once. I believe he was borrowing it gradually, thinking that it may recover its losses until it reaches this $18k.

I can't really say, but even if this type of person is in the cryptocurrency industry, they will still likely suffer losses like that kind of amount in gambling to scammers because of their aim of making it quickly. If not even in gambling, if some are not eager to make quick money, they cannot continue to waste that kind of money in gambling through borrowing.

Fuso.hp

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Quote from: Alpha Marine on December 25, 2023, 08:27:12 AM

There's a saying "Gamble responsibly". What do we think that saying means?
When we see "drink responsibly", what do we think it means?
It means we are allowed to drink (that's if you're up to the age of drinking in your region) but you should do it responsibly. Know your limit and don't go above it.

Not everyone can gamble responsibly by fulfilling their responsibilities. You may not take gambling seriously but there are many people like the one I mentioned who have lost everything in gambling. The brother I mentioned is a government employee and if he was satisfied with his salary he wouldn't have gambled mainly because his gambling aim was to earn a lot of money overnight. He is now burdened with debt due to his desire to earn huge amount of money overnight. Sometimes we need to learn from what happened to some people so that the same thing doesn't happen to us again. Hopefully the common gamblers have gained some understanding of the horrors of gambling addiction.

Alpha Marine

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There's a saying "Gamble responsibly". What do we think that saying means?
When we see "drink responsibly", what do we think it means?
It means we are allowed to drink (that's if you're up to the age of drinking in your region) but you should do it responsibly. Know your limit and don't go above it.

The same should be applied to gambling. It doesn't mean we should gamble, but we have to apply wisdom. Don't dream of becoming w millionaire through gambling, believe in being a millionaire through working hard and smart for it.
Gambling is fun when we gamble within our means. You will get angry when you lose in gambling but you'll get over it and move on because it's money you can afford to lose.

Being in debt is something I hate so much. I've been there (not anywhere close to $18k but it was enough to make me worried) and I know how bad it can be. Most of the money you work for would go to paying off debt instead of using it on yourself. We have to be careful with how we gamble.

rachael9385

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Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

Today I will share a real incident. An elder brother of my area who has been working in Bangladesh Army for 8 years. We have walked with him enough since childhood and played many sports together but we never saw any such habit in him. He used to serve in the army and used to come home when he got leave and we used to hang out with him but recently we heard some bad news about his affairs through his younger brother. There are various online casinos in which he gambled and ended up in debt of around $18,000. Already his father is a middle-class family member and his father works hard enough to get him a job and manage his money by borrowing heavily but by this time he is 18 thousand dollars in debt due to gambling. Not only did he lose $18,000 by gambling, but he ended up with eighteen thousand dollars in debt, and he also lost money by gambling out of his salary.

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts. If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling.

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

Such person is not thinking too well to borrow such a huge amount of money just because he wanted to gamble, however I am not supporting the fact that people should borrow money and invest into Bitcoin but I wish he borrowed the money and invested them into Bitcoin it could have been more better than just using them to gamble.
At least, if he used the money he borrowed to invest into Bitcoin and hold them for long, a day will definitely come when he will gain some good profits, even though getting profits from investment isn't guaranteed, but there is a high hope that if he hold them for more than 10 years, he will get a good interest from the investment. So truth be told that using loan money to gamble and invest in not good but there is one that can be more safer than the other.

Sim_card

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Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts. If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling.

Firstly, this topic is suppose to be posted in the gambling board, because most people concentration is on the gambling aspect.
People thinks that gambling is a get rich quick thing and they have false hope that gambling can be a life changer for them, which is wrong. People don't want to make money by allowing nature to take it's course but they prefer to look for different shortcut to quick success. This is why even those that know about bitcoin investment is to be held for a long time before taking profit, they will ignore this and prefer to go into trading that they don't have any knowledge on, by looking for signals because they are impatient with life. No investor that invest in bitcoin for a long term that will regret his actions, but will they be patient enough, when they see little increase in price.

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Quote from: Mauser on December 24, 2023, 02:49:23 PM

Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts. If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling.

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

With hindsight it's always easy to make the best possible investment decisions, but we shouldn't be too hard on ourself. The past is gone, we can't bring it back and shouldn't be felling bad about it. We need to remain realistic, look towards the future and learn from our mistakes. For me there is a clear difference between money for saving, trading and investing, and money used for gambling. Investing is to build a large portfolio over time, save money for retirement and have money for emergencies. Gambling on the other hand is for entertainment, I am not going to mix the two and try to avoid thinking about missed opportunities. It's like calculating how much money I would have saved if I didn't go to restaurants and only prepare cheap meals at home. There will always be situations where we could have saved more and used that money differently. Now putting debt on top of everything things will be much worse. I would never use debt for gambling or investing, better to first save the money and spend it, not the other way round?

Gambling is short-term enjoyment, whereas investing is long-term growth. Yes, regretting "what could have been" is pointless. In money and life, hindsight can be appealing but deceiving. Despite its volatility, I support Bitcoin. Bitcoin, unlike gambling, is a new frontier in digital assets that could change monetary systems. This demands deep awareness and a willingness to take calculated risks, not blind gambles.

Your stand against gambling or speculative investing debt is wise. Financial decisions should be based on facts, not fantasy. Remember that our financial journey is as much about the pathways we dont take as the ones we do.

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Quote from: jeraldskie11 on December 23, 2023, 04:09:34 PM

I believe the majority choose investment. It is a guarantee that you can be profitable someday if you know what you are doing, you made many research about the stuff you entering before you invest. However, there are people who really use to play gambling and I believe those are very rich person especially those people who gamble in Casino. You can be a millionaire in gambling in no time but you can be a nothing at anytime. Investing takes time but really worth it.

Nothing is guaranteed to both gambling and investment simply because risk is present no matter how you look at it. If there's assurance then many people should be rich by now. Well, in gambling indeed it is more risky but with crypto investment, there's volatility as well. We're just amazed at this moment that the market price of cryptos are continuously increasing but if we would look back early this year and the previous one, that is where hesitation would come from. The market price could fall anytime and even if you won't permanently lose if you avoid selling, question is how long would you be able to hold? Pick a wrong entry and you'll be stuck in the middle, remember that. Nothing's easy when it comes on earning money. Investing is indeed a better choice but always manage the risk.

Quote from: Bitcoin_people on December 24, 2023, 11:36:07 PM

When a person invests Bitcoin, he hopes that in the future he will become a big man and fulfill his dreams. And when a person decides to quit investing and start gambling and trading, it will not be a good sign for him but he will slowly move downwards in the future. Gambling is always a risky activity where people lose money most of the time and they become addicted to gambling once in a while. And that is why it is most important to abstain from gambling because if a gambler is created in a family then the gambler is most powerful in destroying that family. That's why I think it is better to abstain from gambling but those people who are wise and follow gambling successfully will never be addicted but they are successful people. And apart from gambling if you invest Bitcoin then it will be the best plan as it will help you to give high profit.

Profit won't come in an instant, keep this in mind. If you still have that mindset that investing to Bitcoin will make you rich in an instant, then you're absolutely wrong and would be one to regret once price correction take place ( will always have the possibility to take place simply because the market price of Bitcoin is dependent with demand and supply). Let us leave it as Bitcoin is a good option to engage yourself with if compared with engaging to gambling. Think of why there are investors who stopped and why there are people who are still in doubt.

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When a person invests Bitcoin, he hopes that in the future he will become a big man and fulfill his dreams. And when a person decides to quit investing and start gambling and trading, it will not be a good sign for him but he will slowly move downwards in the future. Gambling is always a risky activity where people lose money most of the time and they become addicted to gambling once in a while. And that is why it is most important to abstain from gambling because if a gambler is created in a family then the gambler is most powerful in destroying that family. That's why I think it is better to abstain from gambling but those people who are wise and follow gambling successfully will never be addicted but they are successful people. And apart from gambling if you invest Bitcoin then it will be the best plan as it will help you to give high profit.

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Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts. If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling.

This crisis of online gambling is also a big issue in my country, most of people who do online gambling is the low-middle income class who think they could get rick quickly by gambling, and that is very wrong take of gambling. And in my opinion that is individual fault, not gambling fault as activity, gambling is supposed to be an entertainment.

Comparing Gambling and Investing in the first place is non-sense, investment is stressful a lot of research and learning, while gambling is supposed to fun and entertaining. Investing goal is to gain profit and growing assets, while gambling goal is just to get entertained and excitement. People should understand that, and be responsible for doing any of those. If one is investing then he could expect to grow the assets and get rich but should do more research and learn about his investment, if one is gambling he shouldn't expect to be rich, while he can expect to be entertained and have fun.

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Positive always attracts positivity, while negative bears negativity. But if you know how to do things in balance and in caution, you will never resort into failure and losses.

Investing in bitcoin creates a good opportunity to make future profits, by hodling it for long term. Even with small investment, the fact that you decide to take the risk, it will have a positive outcome waiting ahead. However, if you gamble at your own risk, ending in destitute is far to happen. But if you gamble like there's no tomorrow, you will definitely be wreck in time.

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Quote from: Fuso.hp on December 22, 2023, 01:17:21 AM

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts. If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling.

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

With hindsight it's always easy to make the best possible investment decisions, but we shouldn't be too hard on ourself. The past is gone, we can't bring it back and shouldn't be felling bad about it. We need to remain realistic, look towards the future and learn from our mistakes. For me there is a clear difference between money for saving, trading and investing, and money used for gambling. Investing is to build a large portfolio over time, save money for retirement and have money for emergencies. Gambling on the other hand is for entertainment, I am not going to mix the two and try to avoid thinking about missed opportunities. It's like calculating how much money I would have saved if I didn't go to restaurants and only prepare cheap meals at home. There will always be situations where we could have saved more and used that money differently. Now putting debt on top of everything things will be much worse. I would never use debt for gambling or investing, better to first save the money and spend it, not the other way round?

Essential10

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For those who smoke regularly, we can call it a bad habit or an addiction. When a person is addicted to smoking, he continues to smoke regularly, eventually he cannot stop smoking. Gambling is like smoking addiction, those who get hold of it cannot quit easily, eventually it becomes a habit or addiction. Those who are totally addicted to gambling, I think they don't calculate profit and loss, they have an idea that they have to gamble today. OP I think a brother known in your area is a victim of such a situation. I don't think he would have had to be in that situation if he had invested the money he lost gambling in Bitcoin to see the profit. Investing in Bitcoins and gambling both involve risk, but investing in Bitcoins is generally considered a more strategic and calculated approach that has the potential for long-term gains. Gambling usually depends on luck and chance which means the risk of losing is high.

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Quote from: jeraldskie11 on December 23, 2023, 04:09:34 PM

I believe the majority choose investment. It is a guarantee that you can be profitable someday if you know what you are doing, you made many research about the stuff you entering before you invest. However, there are people who really use to play gambling and I believe those are very rich person especially those people who gamble in Casino. You can be a millionaire in gambling in no time but you can be a nothing at anytime. Investing takes time but really worth it.

You're right that you can be a millionaire in gambling but you can be devastated in just a snap, so it's better if people are aware about gambling. Both gambling and investment has a risk that's why I personally prefer to put my money in investment because there's a big possibilities of return if you know well the project that you are going to invest, unlike in gambling that there's no guarantee of winning in the end.

cryptoWODL

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Quote from: bocyaj on December 24, 2023, 02:04:20 AM

The gambler can use the gambling money to inverse in bitcoin,because the gambling is not the sure income.The gambler may or may not win the game,So if you invest the same money in the bitcoin trading.The returns from the bitcoin trading will be more then gambling winnings.

The gambler thought that he would suddenly win a lot of money all at once from a gamble while gambling. As a result he gambled greedily and was heavily in debt. If he had known that investing in bitcoins instead of gambling would have made him more profitable he would have definitely invested in bitcoins. Because he was very greedy for money. Cheesy

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Quote from: cryptoWODL on December 24, 2023, 01:40:26 AM

I think he is not aware about Bitcoin or Cryptocurrency because of which he got addicted to gambling instead of investing in Bitcoin. A debt of 18 thousand dollars is very difficult for a man to repay.
He may be a government employee and he will never be able to pay off his debt with his salary.I think he made one of the biggest mistakes of his life that will cost him the rest of his life.

Bitcoin is everywhere except for does in remote areas who might not know about Bitcoin, and some we tell of their financial situation and will not be able to invest but with a very small amount of money they can gamble and get lucky with a win, and people that are addicted might be in serious need for money but all the same people need money to survive so we need to understand that people just do things they do a thing for a reason and the situation of the country so everybody needs money.

18k is a lot of money. How many months will you work to pay that amount? I would even suggest taking out a loan to gamble because it will not work out well for someone who gambles constantly. Being an addict does not entail spending all of your money on gambling; that would be extremely foolish of anyone to act in such a way. even if the person is not a government official 18k nah. Grin

bocyaj

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Quote from: Distinctin on December 23, 2023, 03:17:03 PM

Investing in bitcoin will certainly bring us hope if we chose to invest for long term, the hope and excitement is there while waiting to reap our profits. But that will happen only if you have the patience to hold and the persistency to stick with bitcoin, as others may easily shift into altcoins because they long for short term profits.

While gambling will leave you in destitute, that is for those who spend lot and lose a lot in gambling. But if you only gamble at a small amount occasionally, you will never suffer from huge losses. In fact, you might even gain some small profits.

The bitcoin was the best one for the long term investment,many people was become the millionaire and billionaire using the bitcoin trading.The bitcoin price is 42k dollars,So it’s better time for the bitcoin trading.Because many investors looking to inverse at the low price,the bitcoin price was expected to increase to 100k dollars in next year.It was the reason for many traders of bitcoin holding their money in bitcoin for the longer period.Some of the good altcoin also available in the cryptocurrency,if you want to become the rich person.It’s essential to analysis the market by your own trading techniques.

Quote from: cryptoWODL on December 24, 2023, 01:40:26 AM

I think he is not aware about Bitcoin or Cryptocurrency because of which he got addicted to gambling instead of investing in Bitcoin. A debt of 18 thousand dollars is very difficult for a man to repay.
He may be a government employee and he will never be able to pay off his debt with his salary.I think he made one of the biggest mistakes of his life that will cost him the rest of his life. I have little experience with gambling I got quite addicted for a few days in online casino games where I lost like 5000 rupees in my country.Which is like $50 in Bitcoin. Since then I came back from there.From my experience anyone who wants to make money from gambling and get rich quick is making a big mistake.

The gambler can use the gambling money to inverse in bitcoin,because the gambling is not the sure income.The gambler may or may not win the game,So if you invest the same money in the bitcoin trading.The returns from the bitcoin trading will be more then gambling winnings.

Topic: Investing in Bitcoin will bring you hope and gambling will leave you destitute. - page 4. (Read 1064 times)