Limited escrow service for building self discipline.

ralle14

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Quote from: Heisenberg_Hunter on July 22, 2020, 04:38:07 PM

On another hand, if we tend to win higher in the gambling i.e for example 10 BTC, an escrow should indeed create a secured cold wallet to store the funds. Having a large sum of bitcoin in hot wallet would put the escrow in question and there are higher possibilities of escrow losing the fund on a hack.

More or less, such an event of escrow managing our fund for future expenses is highly unlikely.

I agree there are some cons to the escrow solution. If the agreement is a long term one it becomes very risky losing the funds on a hack rarely happens then there's also a chance for one of the escrows disappearing at anytime (mentioned this before) unless you personally know the escrow.

It would be interesting to hear what the escrows (and those who tried it before) have to say to this and if they've received a request similar to OPs example.

Quote from: Mahanton on July 23, 2020, 02:43:39 PM

Also you would need to pay up for such service which do really sucks.

There are escrows that don't cost a lot I know there are some affordable services out there but I don't know if they'll take these kind of request. And paying shouldn't be a problem knowing that you spent most of your money on gambling.

avikz

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Quote from: erikoy on July 24, 2020, 01:12:53 AM

Quote from: Mahanton on July 23, 2020, 02:43:39 PM

Quote from: AniviaBtc on July 23, 2020, 01:11:52 PM

Quote from: ethereumhunter on July 14, 2020, 05:54:17 AM

I can stop playing gambling whenever I want because I know that in gambling, the emotion will take part, including greediness, because of winning the games. But maybe that can help other members who need help from the escrow agent or members who use too big money to gamble. Make sure you can select the recommended escrow agent to handle your money.

Not all people can control themselves just like we do. I can also limit myself from those overspending of money in gambling because I only see myself releasing my stress to it.

Escrow can really help a lot of gamblers who are struggling overcome their addiction.

I don't really believe in the idea of "you can stop gambling immediately" without even looking for another source of entertainment or someone/something that will hold your money. Obviously if you are a gambling addict you will not control yourself easily from spending another money. So I think, escrow will guide most of those gamblers to stop and prevent themselves from wasting huge amount of money.

No it work yet you know that you can alter out your decisions from time to time and since you do know that you do have still money left on your stash then you will probably using it up and claim it for you to use.
This is why its somewhat useless if you do have this kind of arrangement on where you do look up for some escrow to hold up your funds.Just like what others mentioned that this kind of service is not needed.
You do have the full control and if not then you will surely learn up from your mistakes as simple as that.Also you would need to pay up for such service which do really sucks.

Just think of a way how to control these emotions. I know it is very hard but I think it could be helpful to see other things that might alter your interest and to minimize your addiction in gambling. In my case I have my pet, a dog and usually I need to take care of it so my time couls easily pass by hanging with my pet. This has been able me to minimize the addiction though in gambling. I had also seen that my resources are being save due to the loss tha has been minimized and put to good use as my wife suggested. Happy to see those things that made me realize that addiction is really a problem when it will be gone to worst.

That's really nice to know that you are able to control your emotions related to gambling. But not everyone can do that because not everyone has a metal ability to do that! The same goes for any other addiction like smoking or alcohol. My grandfather used to be a heavy smoker during his mid 40s and he stopped smoking in a day's notice. Never went back to smoking again after that because he had supreme control on his emotions. He had to go through medical help due to the withdrawal symptoms he was facing but he did not loose the control on his mind. Not everyone is privy to such control over their own mind.

I think what OP suggested is a wise idea but having outsider escrow is a bad idea. In this case, someone senior in the family should act as escrow. It will ensure the control as well minimize the chance of loosing the money due to fraud/theft!

erikoy

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Quote from: Mahanton on July 23, 2020, 02:43:39 PM

Quote from: AniviaBtc on July 23, 2020, 01:11:52 PM

Quote from: ethereumhunter on July 14, 2020, 05:54:17 AM

I can stop playing gambling whenever I want because I know that in gambling, the emotion will take part, including greediness, because of winning the games. But maybe that can help other members who need help from the escrow agent or members who use too big money to gamble. Make sure you can select the recommended escrow agent to handle your money.

Not all people can control themselves just like we do. I can also limit myself from those overspending of money in gambling because I only see myself releasing my stress to it.

Escrow can really help a lot of gamblers who are struggling overcome their addiction.

I don't really believe in the idea of "you can stop gambling immediately" without even looking for another source of entertainment or someone/something that will hold your money. Obviously if you are a gambling addict you will not control yourself easily from spending another money. So I think, escrow will guide most of those gamblers to stop and prevent themselves from wasting huge amount of money.

No it work yet you know that you can alter out your decisions from time to time and since you do know that you do have still money left on your stash then you will probably using it up and claim it for you to use.
This is why its somewhat useless if you do have this kind of arrangement on where you do look up for some escrow to hold up your funds.Just like what others mentioned that this kind of service is not needed.
You do have the full control and if not then you will surely learn up from your mistakes as simple as that.Also you would need to pay up for such service which do really sucks.

Just think of a way how to control these emotions. I know it is very hard but I think it could be helpful to see other things that might alter your interest and to minimize your addiction in gambling. In my case I have my pet, a dog and usually I need to take care of it so my time couls easily pass by hanging with my pet. This has been able me to minimize the addiction though in gambling. I had also seen that my resources are being save due to the loss tha has been minimized and put to good use as my wife suggested. Happy to see those things that made me realize that addiction is really a problem when it will be gone to worst.

Mahanton

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Quote from: AniviaBtc on July 23, 2020, 01:11:52 PM

Quote from: ethereumhunter on July 14, 2020, 05:54:17 AM

I can stop playing gambling whenever I want because I know that in gambling, the emotion will take part, including greediness, because of winning the games. But maybe that can help other members who need help from the escrow agent or members who use too big money to gamble. Make sure you can select the recommended escrow agent to handle your money.

Not all people can control themselves just like we do. I can also limit myself from those overspending of money in gambling because I only see myself releasing my stress to it.

Escrow can really help a lot of gamblers who are struggling overcome their addiction.

I don't really believe in the idea of "you can stop gambling immediately" without even looking for another source of entertainment or someone/something that will hold your money. Obviously if you are a gambling addict you will not control yourself easily from spending another money. So I think, escrow will guide most of those gamblers to stop and prevent themselves from wasting huge amount of money.

No it work yet you know that you can alter out your decisions from time to time and since you do know that you do have still money left on your stash then you will probably using it up and claim it for you to use.
This is why its somewhat useless if you do have this kind of arrangement on where you do look up for some escrow to hold up your funds.Just like what others mentioned that this kind of service is not needed.
You do have the full control and if not then you will surely learn up from your mistakes as simple as that.Also you would need to pay up for such service which do really sucks.

AniviaBtc

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Quote from: ethereumhunter on July 14, 2020, 05:54:17 AM

I can stop playing gambling whenever I want because I know that in gambling, the emotion will take part, including greediness, because of winning the games. But maybe that can help other members who need help from the escrow agent or members who use too big money to gamble. Make sure you can select the recommended escrow agent to handle your money.

Not all people can control themselves just like we do. I can also limit myself from those overspending of money in gambling because I only see myself releasing my stress to it.

Escrow can really help a lot of gamblers who are struggling overcome their addiction.

I don't really believe in the idea of "you can stop gambling immediately" without even looking for another source of entertainment or someone/something that will hold your money. Obviously if you are a gambling addict you will not control yourself easily from spending another money. So I think, escrow will guide most of those gamblers to stop and prevent themselves from wasting huge amount of money.

andycarrol

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Quote from: Sadlife on July 23, 2020, 08:28:38 AM

Such services would be nice but i doubt that any player would actually withhold their money to a middle man especially when gambling. Because there are instances that you might quickly spend all your bankroll in an instant, as you might know casino's are risky there's always a high chance to win big or loss big quickly. And you call the escrow to give the funds and he refuses, but threaten him to end the contract.

gambling places will always provide a very high risk, therefore you should be able to remain alert when doing any gambling games, because there will never be someone who can guarantee profit, all of them have the potential to become poor instantly or if you are lucky then you can become rich instantaneously.

Ridwan Fauzi

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I won't do that for myself, money management is important to be mastered. I have to learn hard to make my money management is good and can give a profit consistent to whatever I do (gambling or trading).

If I trust someone else to manage my money I believe I can't unfold and just stuck somewhere where I have to continue to deposit my money without making a withdrawal.

The service might be suitable for those gambling addict who just make deposit, I mean he just think that gambling is his hobbies and never thinking that he has to get a profit in it. At least it will help him to not only spend his money, he will have a saving where he can take anytime he wants.

Sadlife

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Such services would be nice but i doubt that any player would actually withhold their money to a middle man especially when gambling. Because there are instances that you might quickly spend all your bankroll in an instant, as you might know casino's are risky there's always a high chance to win big or loss big quickly. And you call the escrow to give the funds and he refuses, but threaten him to end the contract.

CarnagexD

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Quote from: bitbunnny on July 14, 2020, 06:17:10 AM

Unfortunately, some gamblers have serious issues with that and can't recgonize the signs that they might be in financial troubles because of excessive gambling. In that situation escrow agent might help.

It really depends on us, some people are really into gambling and you can't stop them from gambling as it is the thing that entertains them. Escrow can really help those people who are in need to eliminate their addiction and manipulate their urge on gambling. By that, they can really maintain themselves as this will help them control and organize their assets so that they can't easily spend it into gambling and waste it.

Quote from: semobo on July 14, 2020, 08:28:24 AM

If we really want to limit ourselves then we need to do it on our own and as far as I remember there are sites which lest you to lock the funds temporarily and also there are ideas available to lock your funds inside your wallet itself.

It is hard to do it with only yourself. Let's talk about the reality, a person can't instantly stop himself from gambling if he is addicted to it.

Maybe, little by little, he can minimize the money that he is going to spend so that his funds will not be wasted on those gambling platforms.

Wapfika

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Quote from: Darker45 on July 23, 2020, 12:05:35 AM

If you cannot control yourself, what assurance do you have that the funds in your other wallets outside the escrowed funds will remain untouched after your gambling wallet is drained?

This is on point, there is no need for escrow if we trust ourselves enough that we are in control, that we can limit our game and if have escrow that we will not lie to ourselves that we will not have other funds other than the fund being escrowed. However, there will be sure plenty of times that one will be able to say to themselves that "last try, till many last happen", better if casino will have their own limiting deposit to control the players which is quite impossible since what they wanted is for us to be addicted in playing.

Pamadar

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Quote from: Shasha80 on July 22, 2020, 06:01:24 PM

I don't think it's a wise decision to entrust a third party to manage our bankroll management.

Yes, it's not proper to entrust your money to someone if you are still in your good mind.

Quote from: Shasha80 on July 22, 2020, 06:01:24 PM

Because of the effect we will dependence on these third parties, which means we have to pay more to pay for their services.

It's our money we should control it properly instead of letting someone to manage it for us, being responsible is what we need instead.

Quote from: Shasha80 on July 22, 2020, 06:01:24 PM

It's better for bankroll management to be done by ourselves, more effective for building self discipline.

It's indeed what we needed in order to control this, we have to learn how to properly manage our bankroll.

livingfree

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Quote from: pikkie on July 22, 2020, 06:08:26 PM

Quote from: livingfree on July 22, 2020, 04:44:31 PM

Quote from: jrrsparkles on July 22, 2020, 08:03:42 AM

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

but I feel there is no harm in paying them to help well because when we pay they will provide good service with full experience they are experts. if done alone sometimes it's still wrong because I think I still don't have much experience to handle this alone.

Actually there is no harm at all if you will get the right person and the one that has a good history in escrowing transactions or deals.

And for the fee, there's no need to discuss it as it's common for them to get paid because they are offering a service. Unless the escrow is your friend or you know him/her personally and is waiving the fee just for you.

Darker45

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This is going to be useless if aside from the escrowed funds you still have other funds kept in other wallets which are fully under your control. So it is not going to be effective for me. At the end of the day, it is not about having an escrow or having the bankroll management skill but having the right disposition or discipline to say no or enough. It is really all about control.

If you cannot control yourself, what assurance do you have that the funds in your other wallets outside the escrowed funds will remain untouched after your gambling wallet is drained?

pikkie

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Quote from: livingfree on July 22, 2020, 04:44:31 PM

Quote from: jrrsparkles on July 22, 2020, 08:03:42 AM

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

but I feel there is no harm in paying them to help well because when we pay they will provide good service with full experience they are experts. if done alone sometimes it's still wrong because I think I still don't have much experience to handle this alone.

Shasha80

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I don't think it's a wise decision to entrust a third party to manage our bankroll management. Because of the effect we will dependence
on these third parties, which means we have to pay more to pay for their services. It's better for bankroll management to be done by
ourselves, more effective for building self discipline.

livingfree

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Quote from: arwin100 on July 22, 2020, 04:49:23 PM

Quote from: livingfree on July 22, 2020, 04:44:31 PM

Quote from: jrrsparkles on July 22, 2020, 08:03:42 AM

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

In the first place I'm wondering why we need that while we are betting? I got the point about for having a person who hold your money in any case but its a double hassle for us since Im sure we need to pay those guys just to do the service for us. I really think the most effective way is to limit our self to put a huge capital to gamble, always bring the amount what we can afford to loss and think about leaving when that amount is already emptied on our pocket.

Treat this like a special case.

There really are people that needs somebody's help in things like this. It is like hiring your personal money control management through a service of an escrow and it should be correspondent with a fee because it's a service that they have to get paid for. They'll allocate their time and effort for keeping your money safe and again, this is for those people that can't manage their money alone and can't control their behavior as they gamble.

arwin100

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Quote from: livingfree on July 22, 2020, 04:44:31 PM

Quote from: jrrsparkles on July 22, 2020, 08:03:42 AM

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

In the first place I'm wondering why we need that while we are betting? I got the point about for having a person who hold your money in any case but its a double hassle for us since Im sure we need to pay those guys just to do the service for us. I really think the most effective way is to limit our self to put a huge capital to gamble, always bring the amount what we can afford to loss and think about leaving when that amount is already emptied on our pocket.

livingfree

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Quote from: jrrsparkles on July 22, 2020, 08:03:42 AM

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

They can as long as you can pay them for the service that they will render to you. It is a solution for yourself if you alone can't handle your money and control it.

But if you can, there is no need for others to handle your money. Self-discipline can be done by ourselves.

Heisenberg_Hunter

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Quote from: ralle14 on July 22, 2020, 11:12:28 AM

If that's the case then the escrow should ignore your requests, once the funds are in his hands it should only be released on the said date.

I don't think an escrow would work for such scenarios as OP has pointed out. Escrows are middle man for transactions and not for holding our funds and providing to us on a regular basis. If we are spending higher than we thought it should indeed be controlled by us and not by anyone managing the fund. On another hand, if we tend to win higher in the gambling i.e for example 10 BTC, an escrow should indeed create a secured cold wallet to store the funds. Having a large sum of bitcoin in hot wallet would put the escrow in question and there are higher possibilities of escrow losing the fund on a hack.

Even if escrow tends to agree upon the holding of funds and releasing them at right times, cold storage wallet would pose a trouble. What if the gambler requires few hundred dollars each week and troubling the escrow each and every time to release from the cold storage? As ralle14 said, escrow shouldn't agree upon with frequent transfer of funds but rather should act on specific timelines.

More or less, such an event of escrow managing our fund for future expenses is highly unlikely.

Mahanton

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Quote from: redsun114 on July 22, 2020, 02:14:02 PM

Quote from: jrrsparkles on July 22, 2020, 08:03:42 AM

Not really practical to apply, because we know how big the crypto gambling industry is and we have very few members who is trusted with such huge money so do you really think it is possible for them to handle all the traffic?

And why you can't do that by yourself.

You know you can do it yourself and pretty easily, I am someone who stakes my TRX and all my gambling is also done via TRX and later converted into bitcoins when I need them.

So basically I put my coins on staking and I cannot access them until a specified date which prevents me from gambling and also makes me some nice profit because if I was going to hand over my coins to someone just to control them, then I would always be worried if the person can be trusted or not and if even I can trust him then I am not getting any return on my money instead I might be paying some fees to the person holding it for me.

It would really be a stressful thing for your part that you do always mind of that you have funds on other people or platform on where you do trust up or store your funds just because you are trying to control up yourself on spending.We can actually do this on our own and its not really that necessary to have such feature or service because if people do really tend to control up themselves then they can
really do it anytime.

Its just a matter of self-discipline and control because if you dont have these things then you will surely spent your money as long you do know that you do have still into your pocket.
When you do gamble then be sure that you only spend on the amount that you can afford to lose.

Topic: Limited escrow service for building self discipline. (Read 587 times)