Why is the Chinese mentality so risky?

hendra147

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Im from asia and im from Indonesia (not chinese)
in our culture ( java )
there are some unique traditions when our brother is getting married
we played cards together, partly use the money
and some do not like to gamble, if you lose you will get a sentence like this Cheesy

so our culture teaches us to speculate at market ~~and gambling~~

n2004al

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Quote from: cafucafucafu on July 11, 2015, 08:42:16 AM

Do they have a gamblers culture? Do they enjoy the thrill or gambling?

Edit: a quick search show that this is known: https://www.psychologytoday.com/blog/minority-report/201407/asian-gambling-addiction

Well now a new btc bubble and crash is coming. More volatility ahoy.

It is risky, very risky, to much risky, enormously risky. Gambling is the worst habit that someone can have. It is a heavy disease (in the concrete meaning of these words) that can destroy everything good someone have in his life. Destroy the money (because it's for sure that one day will lose every penny he/she will have), destroy the family (because the family need money to live and near to it the person who gamble) and destroy the society (because the people who gamble are unable to think about other things). So away from the Chinese people if they have this habit.

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Quote from: Mickeyb on July 22, 2015, 10:01:38 AM

When I visited Asia, I got the feeling that they love to gamble a lot. I don't know, you call this profit or obsession but majority of people in bars and cafes are constantly looking at many TVs and following stock and comodity prices.

This was very funny to me, it is just as the rest of us are watching sports with the friends while drinking something at the bar, well they are watching stock prices. Go figure it out.

Macau has overtaken Las Vegas as the world's gambling capital.
Definitely, Chinese seem to have a gambling streak in them.

Falconer

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Quote from: Mickeyb on July 22, 2015, 10:01:38 AM

When I visited Asia, I got the feeling that they love to gamble a lot. I don't know, you call this profit or obsession but majority of people in bars and cafes are constantly looking at many TVs and following stock and comodity prices.

This was very funny to me, it is just as the rest of us are watching sports with the friends while drinking something at the bar, well they are watching stock prices. Go figure it out.

I have many chinese friends and they always join me to watch soccer match in a cafe. Maybe you entered a bar which people around you are broker or something like that.

arallmuus

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Quote from: Falconer on July 22, 2015, 01:31:49 AM

Quote from: arallmuus on July 21, 2015, 06:53:54 PM

They do care about people around them , literally this means whoever that is close with them however they dont really care about the others apart from that because chinese care much about their families and friends (most literally)

He said its his culture as chinese, which he stated 'a friend is friend, a family is family, but business is still business to earn profit', no matter who your customers are.

True, a business stays as a business dependant on who your customer for the chinese ( well most of them are however some are being lenient with this ) but that does not means that they dont care practically about the others

Quote from: pereira4 on July 22, 2015, 11:03:51 AM

Right now they are that hard working for small salaries because they are oblivious to the scam they are victims of.

Get your fact straights before posting nonsense. China is by far a country with the most population and there arent many works left to be done there, therefore they are working like bee drones to get enough salary to live up their life with a proper way and there is nothing wrong with that , it is in their nature to be hard worker too

pereira4

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Quote from: n2004al on July 22, 2015, 01:40:15 AM

Chinese people are the most hard workers people on the earth. They work even for salaries which in other countries no one take in consideration. For this China is developed so much in so few years and have the best and the most stable increased rates of its economy compares with the most countries. All the other words are only words. Gamblers exist in every nook of the world. And no nation can identified as a gambler because gamble some of them.

Edit: I am not a Chinese.

Sooner or later the Chinese will want more rights and will wake up from being worker bee drones. Right now they are that hard working for small salaries because they are oblivious to the scam they are victims of.

Mickeyb

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Move On !!!!!!

When I visited Asia, I got the feeling that they love to gamble a lot. I don't know, you call this profit or obsession but majority of people in bars and cafes are constantly looking at many TVs and following stock and comodity prices.

This was very funny to me, it is just as the rest of us are watching sports with the friends while drinking something at the bar, well they are watching stock prices. Go figure it out.

n2004al

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Chinese people are the most hard workers people on the earth. They work even for salaries which in other countries no one take in consideration. For this China is developed so much in so few years and have the best and the most stable increased rates of its economy compares with the most countries. All the other words are only words. Gamblers exist in every nook of the world. And no nation can identified as a gambler because gamble some of them.

Edit: I am not a Chinese.

Falconer

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Quote from: arallmuus on July 21, 2015, 06:53:54 PM

They do care about people around them , literally this means whoever that is close with them however they dont really care about the others apart from that because chinese care much about their families and friends (most literally)

I've heard a chinese who just care with profit and his businesses, not for people around him even his family. He never reduce the price of his product for his big family (cousin, uncle, niece, nephew, etc.), even he make higher price for them to get profit easily. He said its his culture as chinese, which he stated 'a friend is friend, a family is family, but business is still business to earn profit', no matter who your customers are.

arallmuus

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Quote from: dothebeats on July 21, 2015, 01:09:28 PM

they tend to go for quantity over quality.

This is how the chinese manufacturer based their work on. Basically quality isnt important , they tend to produce a low quality product with the hope that the product will be broken soon ( if it isnt food and such ) and so people will get a new one . Check some low quality stuff or some cheaper product and you will see that it is made in china

Quote from: dothebeats on July 21, 2015, 01:09:28 PM

Chinese people are great in multiplying their wealth, but as I've studied, most of them only care for their profits and not the people around them.

They do care about people around them , literally this means whoever that is close with them however they dont really care about the others apart from that because chinese care much about their families and friends (most literally)

dothebeats

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Cashback 15%

Most of the business tycoons here in our country are Chinese, and based on their biographies, they really worked hard to gain those riches. However, there is something that I don't really like on Chinese businessmen: they tend to go for quantity over quality. There have been controversial items here in our country that came from China that has some bad health implications for children, especially that controversy in regards with melamine being mixed with the colors of several toys. Chinese people are great in multiplying their wealth, but as I've studied, most of them only care for their profits and not the people around them.

Falconer

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Quote from: notlist3d on July 21, 2015, 01:38:28 AM

Quote from: mrhelpful on July 20, 2015, 06:58:11 PM

Last time I checked its not just chinese its everyone. But games in the casino are directed to asians due to more percentage based on business owners.

Also it isnt fair to say only chinese just because they have a bigger population then ours.

Yea I think it's unfair to say all Chinese are gamblers and effected by gambling. This is just not true. With bitcoin dealings I really have not met anyone who gambled to much (there were a few dice players). But overall most like to keep the coin they earn.

The more scary thing is look at what Chinese average salary is on your job. You would be surprised the difference in pay.

Chineses in my company get bit higher salary than me, but its totally depend on effort and neatness when they are working. I am be amazed with their professionalism and habit.

notlist3d

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Quote from: mrhelpful on July 20, 2015, 06:58:11 PM

Last time I checked its not just chinese its everyone. But games in the casino are directed to asians due to more percentage based on business owners.

Also it isnt fair to say only chinese just because they have a bigger population then ours.

Yea I think it's unfair to say all Chinese are gamblers and effected by gambling. This is just not true. With bitcoin dealings I really have not met anyone who gambled to much (there were a few dice players). But overall most like to keep the coin they earn.

The more scary thing is look at what Chinese average salary is on your job. You would be surprised the difference in pay.

mrhelpful

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Last time I checked its not just chinese its everyone. But games in the casino are directed to asians due to more percentage based on business owners.

Also it isnt fair to say only chinese just because they have a bigger population then ours.

arallmuus

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Quote from: Scamc0p on July 19, 2015, 11:51:43 PM

Quote from: arallmuus on July 19, 2015, 06:47:04 PM

I dont exactly get what you are trying to say but you do need to read that I dont even understand what do you mean about the words "do" / "did" and such, wonder what it means
Some people values technology and it is not about solely making profit from it but for the chinese things are different because what they need is not a technology but how to get profit , basically this means how to get profit even if it from rubbish and stuff

-snip-

You got a few wrong points :

#1. Mentality and culture is two different things and literally different
#2. Im not your friend

The word rubbish literally means rubbish . If you would to propose something/technology to a chinese investor then the words that you should use will be the return of their investment otherwise you wont get any of their funds and it doesnt matter if you create a super machine but you cant get them profit for their investment

I E

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1.357 B People in China this might clear a few things up Huh

Amph

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Quote from: bitrev on July 17, 2015, 07:33:52 PM

I thought this topic was an interesting read, in fact it is just speculation. Bad.

well no my answer regarding the fact that they are too many and for this you can see more their greedy effect it's the only logical explanation, no speculation is involved

if chinese's people were one million or 10M like greece's people, no one would notice them at all

Scamc0p

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Quote from: arallmuus on July 19, 2015, 06:47:04 PM

Quote from: Scamc0p on July 19, 2015, 08:44:16 AM

Quote from: arallmuus on July 19, 2015, 04:56:14 AM

They have the nature to be hardworking to strive for profit therefore Its not about the technology that driven them it is mainly profit. Basically anything that could make profit for them will be taken into their target despite that it is a nontech things or such.

If you would to compare A and B which A is a rubbish and B is the future technology then whichever could get them a profit would be their choice despite that it is a rubbish or a future technology

But this is what anybody in another culture does. That is not solely just for theirs.
If something is not done for a profit then why would anyone do it, for free? Roll Eyes

I dont exactly get what you are trying to say but you do need to read that I dont even understand what do you mean about the words "do" / "did" and such, wonder what it means
Some people values technology and it is not about solely making profit from it but for the chinese things are different because what they need is not a technology but how to get profit , basically this means how to get profit even if it from rubbish and stuff

I am in basic terms saying, not just the chinese culture see profit as the bottom line. EVERYBODY in ANY OTHER CULTURE wants profit and will DO ANYTHING that is necessary to do it. My culture has just spilled 15 million litres of oil in the forest JUST FOR PROFIT of the oil sector. So this would be considered rubbish in your eyes, polluting and disgracing the ecosystem of their own land to gain a profit from the land they are leasing.
This is all that I am saying. GREED IS A POWERFUL THING MY FRIEND.
It will drive an entire nation to killing itself in the process for the bottom dollar/line.

aakashsangwan

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Quote from: ?? on ??

They are totally money driven, I suppose. We had a chinese teacher and she told us that the way to reach a chinese woman's heart was through money. Gambling tends to attract greedy people.

Every person is diffrent and so was she.

I think that woman lived in poverty and that was her thought. Only hookers are attracted towards money.And no one can reach someone's heart with $. And if so, that will not be a true love.

arallmuus

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Quote from: Scamc0p on July 19, 2015, 08:44:16 AM

Quote from: arallmuus on July 19, 2015, 04:56:14 AM

They have the nature to be hardworking to strive for profit therefore Its not about the technology that driven them it is mainly profit. Basically anything that could make profit for them will be taken into their target despite that it is a nontech things or such.

If you would to compare A and B which A is a rubbish and B is the future technology then whichever could get them a profit would be their choice despite that it is a rubbish or a future technology

But this is what anybody in another culture does. That is not solely just for theirs.
If something is not done for a profit then why would anyone do it, for free? Roll Eyes

I dont exactly get what you are trying to say but you do need to read that I dont even understand what do you mean about the words "do" / "did" and such, wonder what it means
Some people values technology and it is not about solely making profit from it but for the chinese things are different because what they need is not a technology but how to get profit , basically this means how to get profit even if it from rubbish and stuff

Scamc0p

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Quote from: arallmuus on July 19, 2015, 04:56:14 AM

Quote from: Q7 on July 17, 2015, 10:25:40 PM

I don't know if technology means that much to them

They have the nature to be hardworking to strive for profit therefore Its not about the technology that driven them it is mainly profit. Basically anything that could make profit for them will be taken into their target despite that it is a nontech things or such.

If you would to compare A and B which A is a rubbish and B is the future technology then whichever could get them a profit would be their choice despite that it is a rubbish or a future technology

But this is what anybody in another culture does. That is not solely just for theirs.
If something is not done for a profit then why would anyone do it, for free? Roll Eyes

arallmuus

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Quote from: Q7 on July 17, 2015, 10:25:40 PM

I don't know if technology means that much to them

They have the nature to be hardworking to strive for profit therefore Its not about the technology that driven them it is mainly profit. Basically anything that could make profit for them will be taken into their target despite that it is a nontech things or such.

If you would to compare A and B which A is a rubbish and B is the future technology then whichever could get them a profit would be their choice despite that it is a rubbish or a future technology

Scamc0p

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I've always thought it was the government that caused their people to be risky hence eventually turning greedy.
But my view is pure speculation because having never been to the country of the rising sun, I can not give a determined educational answer for never experiencing their culture first hand.

botany

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Quote from: Q7 on July 17, 2015, 10:25:40 PM

Sometimes it's just the culture of the people. You can see that they are willing to take the risk on the expense of ending up with nothing. It's not just the casino but it's pretty inherent with stock markets as well. When it comes to bitcoin, for them it's just an opportunity to gamble and make more money. I don't know if technology means that much to them, but the allure of profit would be the main driver.

Financial repression by the Chinese government is another reason. With interest rates kept artificially low, people are forced to look for alternative assets where the yield is higher. So the stock markets turn out to be a gamble, which the Chinese take.

Q7

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Sometimes it's just the culture of the people. You can see that they are willing to take the risk on the expense of ending up with nothing. It's not just the casino but it's pretty inherent with stock markets as well. When it comes to bitcoin, for them it's just an opportunity to gamble and make more money. I don't know if technology means that much to them, but the allure of profit would be the main driver.

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Quote from: bitrev on July 17, 2015, 07:33:52 PM

I thought this topic was an interesting read, in fact it is just speculation. Bad.

Chip in with some of your own insight, then.

bitrev

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I thought this topic was an interesting read, in fact it is just speculation. Bad.

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Quote from: HarHarHar9965 on July 17, 2015, 12:32:15 AM

Quote from: neurotypical on July 16, 2015, 11:13:50 AM

I don't see them as risky, I see them as insanely hard workers (to the point of being unhealthy), just obsession with wealth and making money and working and working, and then as someone mentioned they seem to obsessed with superstitious stuff.

Well, to be honest, In fairness of China if you don't have money, you won't likely be married if you are a man. Sending your kid to college will only end like a dream. There is no social safety net. Money has a great influence and money gets you a great life. The fact that wealth is so valued there just makes the society all the more cut throat. Regarding superstitions, I see a lot of that in Asian countries.

China has a massive population of about 1.3 billion . Chinese people are extremely hard working , smart and money- loving people. As you said, money does have a great influence and affects their decisions a lot , just like other people. In such a huge economy with rising competition andd accelerating prices , people are accepting new things and new options to advance their money supply. and superstition stuff as you said is also followed greatly in the Asian countries.

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Quote from: arallmuus on July 14, 2015, 02:44:46 PM

Quote from: Falconer on July 14, 2015, 01:36:24 AM

Quote from: arallmuus on July 13, 2015, 11:43:21 AM

Calculating risk isnt a way on how the chinese do their business, Chinese seldom calculate risk because they are more into speculation. They mostly take on their action without thinking too much which is why they love "gambling" in form of trading by buying through a speculation or hype.

So can we say Chinese is a pretty lucky person who always dare to bet all in anything?

The chinese will never go all in into their speculation . They may be the type that are interested in a high risk investment and such however they are pretty much good in financial management and they tend to spread out their risk which is minimizing their lost incase their speculation turns out badly. In most cases, chinese always do have a backup plan and react quickly incase something happen to their speculation / investment therefore you can see alot of quick dump throughout their stockmarket or BTC exchanger whenever there is a minor negative news that might affect their investment

Hey friend, the thing that you are saying is also called "calculated risk".
So basically most of the times they invest in something is a calculated risk.

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Quote from: neurotypical on July 16, 2015, 11:13:50 AM

I don't see them as risky, I see them as insanely hard workers (to the point of being unhealthy), just obsession with wealth and making money and working and working, and then as someone mentioned they seem to obsessed with superstitious stuff.

Well, to be honest, In fairness of China if you don't have money, you won't likely be married if you are a man. Sending your kid to college will only end like a dream. There is no social safety net. Money has a great influence and money gets you a great life. The fact that wealth is so valued there just makes the society all the more cut throat. Regarding superstitions, I see a lot of that in Asian countries.

arbitrage001

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Quote from: cafucafucafu on July 11, 2015, 08:42:16 AM

Do they have a gamblers culture? Do they enjoy the thrill or gambling?

Edit: a quick search show that this is known: https://www.psychologytoday.com/blog/minority-report/201407/asian-gambling-addiction

Well now a new btc bubble and crash is coming. More volatility ahoy.

Many Chinese treat it as a social activity and exchange information during the session.

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Quote from: pigzone on July 16, 2015, 12:21:02 PM

Their Chinese man they do what they want

LOL, every body does what they want.
I've never met someone who does a thing what they don't want to do.

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Their Chinese man they do what they want

neurotypical

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I don't see them as risky, I see them as insanely hard workers (to the point of being unhealthy), just obsession with wealth and making money and working and working, and then as someone mentioned they seem to obsessed with superstitious stuff.

Falconer

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Quote from: Hazir on July 16, 2015, 07:45:28 AM

Imitation game is just the beginning for Chinese companies. I am not sure that you know that many famous brands are in the Chinese hands now: Volvo, Saab and Motorola are now chinese.
They even bought luxury hotel Waldorf Astoria from New York. And they have pure Chinese brands as well for example: Lenovo.

Here we have - ranking of the most valuable Chinese brands:

-snip-

Volvo, Saab, Waldorf Astoria and Motorola were not Chinese companies initially, every rich guy can buy these companies. I only know few China brand in your pics, never heard about most of them.

Quote from: arallmuus on July 16, 2015, 07:47:16 AM

The bolded part is the answer for your post because everyone have a tendency to get more profit and so does the Chinese. As I have stated, Chinese are speculator and dare to take a risk therefore whenever there are something that they "think" can earn them some profit then they will surely go for it. No matter what kind of business that they would do as long as it isnt illegal they will probably do it and that is what kind of chinese mentality is ( also some illegal things as well I supposed )

P.S : yeah right on the nail with the imitation product however some of their products are actually top notch brand

Well I think there is no special with chinese then, actually I want to know is there something behind their character why they dare to take a risk, like astrology, doctrines, etc.

I got an interesting article about facts and details of China business. http://factsanddetails.com/china/cat9/sub62/item355.html

arallmuus

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Quote from: Falconer on July 16, 2015, 07:12:23 AM

Quote from: arallmuus on July 16, 2015, 05:36:55 AM

In fact not everyone has a backup plan some are into blindly going all in and hope that they will be rich in a split of night. Im merely stating that this is how chinese are because given the nature that they are not the type to sit down and watch their things fall into pieces without having nothing to be done. Even if the backup plans fell apart, they are still not the type to give up that easily. In most cases they will just try to resort something rather than sitting down and give up

I'm not sure all chinese businessman have the character like you said. If so, then there is no business will go bankrupt in China then. But, the main problem in China industry is there are many business of imitation products. So, I think character of chinese is they like imitate anything to get profit for themselves.

The bolded part is the answer for your post because everyone have a tendency to get more profit and so does the Chinese. As I have stated, Chinese are speculator and dare to take a risk therefore whenever there are something that they "think" can earn them some profit then they will surely go for it. No matter what kind of business that they would do as long as it isnt illegal they will probably do it and that is what kind of chinese mentality is ( also some illegal things as well I supposed )

P.S : yeah right on the nail with the imitation product however some of their products are actually top notch brand

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Quote from: Falconer on July 16, 2015, 07:12:23 AM

Quote from: arallmuus on July 16, 2015, 05:36:55 AM

In fact not everyone has a backup plan some are into blindly going all in and hope that they will be rich in a split of night. Im merely stating that this is how chinese are because given the nature that they are not the type to sit down and watch their things fall into pieces without having nothing to be done. Even if the backup plans fell apart, they are still not the type to give up that easily. In most cases they will just try to resort something rather than sitting down and give up

I'm not sure all chinese businessman have the character like you said. If so, then there is no business will go bankrupt in China then. But, the main problem in China industry is there are many business of imitation products. So, I think character of chinese is they like imitate anything to get profit for themselves.

Imitation game is just the beginning for Chinese companies. I am not sure that you know that many famous brands are in the Chinese hands now: Volvo, Saab and Motorola are now chinese.
They even bought luxury hotel Waldorf Astoria from New York. And they have pure Chinese brands as well for example: Lenovo.

Here we have - ranking of the most valuable Chinese brands:

Falconer

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Quote from: arallmuus on July 16, 2015, 05:36:55 AM

In fact not everyone has a backup plan some are into blindly going all in and hope that they will be rich in a split of night. Im merely stating that this is how chinese are because given the nature that they are not the type to sit down and watch their things fall into pieces without having nothing to be done. Even if the backup plans fell apart, they are still not the type to give up that easily. In most cases they will just try to resort something rather than sitting down and give up

I'm not sure all chinese businessman have the character like you said. If so, then there is no business will go bankrupt in China then. But, the main problem in China industry is there are many business of imitation products. So, I think character of chinese is they like imitate anything to get profit for themselves.

arallmuus

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Quote from: Falconer on July 15, 2015, 07:28:54 AM

Quote from: arallmuus on July 14, 2015, 02:44:46 PM

The chinese will never go all in into their speculation . They may be the type that are interested in a high risk investment and such however they are pretty much good in financial management and they tend to spread out their risk which is minimizing their lost incase their speculation turns out badly.

In most cases, chinese always do have a backup plan and react quickly incase something happen to their speculation / investment therefore you can see alot of quick dump throughout their stockmarket or BTC exchanger whenever there is a minor negative news that might affect their investment

So, what will they do if the backup plan is still not working like they want? Is there a backup of backup plan then? I think every person always have the plan B if the plan A isn't successful, not only chinese.

In fact not everyone has a backup plan some are into blindly going all in and hope that they will be rich in a split of night. Im merely stating that this is how chinese are because given the nature that they are not the type to sit down and watch their things fall into pieces without having nothing to be done. Even if the backup plans fell apart, they are still not the type to give up that easily. In most cases they will just try to resort something rather than sitting down and give up

pereira4

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The chinese have a lot of superstitions, I find it specially amusing that they liked the idea of Gavin Andersen on the 8MB increase every 2 years only because the number 8 means something like "good luck" or "good future" for the chinese. I mean cmon, can they at least make a better argument? lol. Anyway, I like the idea as well, but not because of that only. Meanwhile the chinese seem to really put a lot of importance into those things.

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Quote from: arallmuus on July 14, 2015, 02:44:46 PM

The chinese will never go all in into their speculation . They may be the type that are interested in a high risk investment and such however they are pretty much good in financial management and they tend to spread out their risk which is minimizing their lost incase their speculation turns out badly.
What are things that made them good in financial management? We can learn that in college, nothing special then.

In most cases, chinese always do have a backup plan and react quickly incase something happen to their speculation / investment therefore you can see alot of quick dump throughout their stockmarket or BTC exchanger whenever there is a minor negative news that might affect their investment

So, what will they do if the backup plan is still not working like they want? Is there a backup of backup plan then? I think every person always have the plan B if the plan A isn't successful, not only chinese.

Quote from: jeffthebaker on July 14, 2015, 05:05:26 PM

Yes, China is a gambling culture, much larger than the US. Gambling is deeply entrenched in Chinese culture, which explains their nature in regards to the stock market as well as Bitcoin market.

Even they have built the largest bitcoin mining https://bitcointalksearch.org/topic/--969823

Quote from: Pab on July 14, 2015, 04:26:32 PM

Thay have that in blood,but thay had also good astrologist and his traditional fortune astrology

Really good astrologist can calculate day whan you have very very goodchance to win

So could we become a pretty lucky person too if we learn the astrology then?

Quote from: Pab on July 14, 2015, 04:26:32 PM

In ancients culture Astrology it was sciance.But look it is funny and real,due to ancient Tibetain astrology
best day for robbery is friday

I'm not sure about it, since in the 10 most successful bank robbery in the world, only 5 of them who did robbery in weekend and only one in friday http://www.enkivillage.com/successful-bank-robberies.html

randy8777

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chinese people are very short term investors who are only looking for quick profits. they invest their entire mortgage funds into very high risky investments. says enough. chinese people are gamblers.

aakashsangwan

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Quote from: Pab on July 14, 2015, 04:26:32 PM

best day for robbery is friday

Yes of course it is logical as on weekends most of the banks are closed.
So after robbery on Friday you will be long gone before they will even know on Monday.
So basically it is not astrology, but it is logical thinking.

Swordsoffreedom

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Leading Crypto Sports Betting & Casino Platform

Quote from: 0xF6487E on July 14, 2015, 04:56:06 PM

Quote from: HeroCat on July 13, 2015, 08:09:37 AM

One billion Chinese, just think if 5% from them are gamblers. And from them 20% win - it is 1 000 000 Grin

Think of the profits the other 80% are making to the casinos. Wink

One of the best investments is being part of the House in a casino
Always make profits in the end.
As for why Chinese tend to take risks its because they want to be rich quickly and not live as modestly, that and they have a lot of gambling games hard to stop once you start.

jeffthebaker

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Yes, China is a gambling culture, much larger than the US. Gambling is deeply entrenched in Chinese culture, which explains their nature in regards to the stock market as well as Bitcoin market.

0xF6487E

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Quote from: HeroCat on July 13, 2015, 08:09:37 AM

One billion Chinese, just think if 5% from them are gamblers. And from them 20% win - it is 1 000 000 Grin

Think of the profits the other 80% are making to the casinos. Wink

Pab

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Thay have that in blood,but thay had also good astrologist and his traditional fortune astrology

Really good astrologist can calculate day whan you have very very goodchance to win

In ancients culture Astrology it was sciance.But look it is funny and real,due to ancient Tibetain astrology
best day for robbery is friday

It is logic in westerness countrys,but tibetain astrology is thousends years old and there was not shops and banks,that time

hikedoon

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I used to work in a casino dealing roulette and the casino was mostly populated by Chinese and asian men.
Most of them worked in the local chinese/asian restaurants and rather than going for a beer when their shifts end(as the local Scottish population do) they would rather gamble. Different strokes for different folks.
P.S Go into just about any Scottish town and you will find most high-streets are full of bookies and pubs.
Drinking and gambling seems to be a common pastime of the working classes,wherever they live.

arallmuus

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Quote from: Falconer on July 14, 2015, 01:36:24 AM

Quote from: arallmuus on July 13, 2015, 11:43:21 AM

Calculating risk isnt a way on how the chinese do their business, Chinese seldom calculate risk because they are more into speculation. They mostly take on their action without thinking too much which is why they love "gambling" in form of trading by buying through a speculation or hype.

So can we say Chinese is a pretty lucky person who always dare to bet all in anything?

The chinese will never go all in into their speculation . They may be the type that are interested in a high risk investment and such however they are pretty much good in financial management and they tend to spread out their risk which is minimizing their lost incase their speculation turns out badly. In most cases, chinese always do have a backup plan and react quickly incase something happen to their speculation / investment therefore you can see alot of quick dump throughout their stockmarket or BTC exchanger whenever there is a minor negative news that might affect their investment

Falconer

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Quote from: Kprawn on July 14, 2015, 02:57:29 AM

I am less worried about their passion for making money than the cost of doing it. I see too many examples of Chinese people destroying nature and animals to feed their ever increasing needs.

Examples :

1. Rhinoceros - Rhino populations are facing serious threats from illegal trade (primarily poaching for traditional Chinese medicine)
https://www.savetherhino.org/rhino_info/threats_to_rhino
2. Tigers - {Tiger penis} https://news.vice.com/article/china-outlaws-the-eating-of-tiger-penis-rhino-horn-and-other-endangered-animal-products
3. Dolphins - Must say, more of this is done by the Japanese people. {http://www.thecovemovie.com/FAQRetrieve.aspx?ID=37078}
4. Abelone - http://www.atimes.com/atimes/China_Business/NK10Cb02.html

And their thirst for energy and the impact on air pollution --> http://fortune.com/2014/11/05/the-cost-of-chinas-dependence-on-coal-670000-deaths-a-year/

It's as if they are slowly eating the world, with no consideration for the day of tommorrow. It's very sad. Sad

I'm not sure the actions was made by Chinese only, I think all of businessman in palm oil, pulp-paper, rubber, and other agribusiness sector have destroyed the nature too. But yeah several cities in China have dangerous level of air pollution.

gentlemand

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Quote from: Kprawn on July 14, 2015, 02:57:29 AM

It's as if they are slowly eating the world, with no consideration for the day of tommorrow. It's very sad. Sad

It's human nature to want to want the best lifestyle possible. It's also human nature to push things to breaking point before actually doing something about it. By the sounds of it normal Chinese folk are thoroughly fed up with not being able to breathe properly. Hopefully they'll address it soon otherwise we're all in a bit of trouble.

Ingatqhvq

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Quote from: cafucafucafu on July 11, 2015, 08:42:16 AM

Do they have a gamblers culture? Do they enjoy the thrill or gambling?

Edit: a quick search show that this is known: https://www.psychologytoday.com/blog/minority-report/201407/asian-gambling-addiction

Well now a new btc bubble and crash is coming. More volatility ahoy.

The gamblers culture is inside the bone of Chinese people. They all like gambling.

Kprawn

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I am less worried about their passion for making money than the cost of doing it. I see too many examples of Chinese people destroying nature and animals to feed their ever increasing needs.

Examples :

1. Rhinoceros - Rhino populations are facing serious threats from illegal trade (primarily poaching for traditional Chinese medicine)
https://www.savetherhino.org/rhino_info/threats_to_rhino
2. Tigers - {Tiger penis} https://news.vice.com/article/china-outlaws-the-eating-of-tiger-penis-rhino-horn-and-other-endangered-animal-products
3. Dolphins - Must say, more of this is done by the Japanese people. {http://www.thecovemovie.com/FAQRetrieve.aspx?ID=37078}
4. Abelone - http://www.atimes.com/atimes/China_Business/NK10Cb02.html

And their thirst for energy and the impact on air pollution --> http://fortune.com/2014/11/05/the-cost-of-chinas-dependence-on-coal-670000-deaths-a-year/

It's as if they are slowly eating the world, with no consideration for the day of tommorrow. It's very sad. Sad

Falconer

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Quote from: arallmuus on July 13, 2015, 11:43:21 AM

Calculating risk isnt a way on how the chinese do their business, Chinese seldom calculate risk because they are more into speculation. They mostly take on their action without thinking too much which is why they love "gambling" in form of trading by buying through a speculation or hype.

So can we say Chinese is a pretty lucky person who always dare to bet all in anything? They seems never hesitated about high risk for high profit. I was curious about it, and when I was searching about chinese business strategy, I got this article http://www.china-ready.com/articles/SevenSecretsToBusinessSuccessInChina.htm

scarsbergholden

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Could we say that Chinese have a well know to like gambling and taking risk with odds and anything they could find a potential on.

There is always a Chinese man making moves in markets and big bold bets some of them a really good at what they do so i guess the others just follow.

bit1

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Maybe adn?

arallmuus

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Quote from: aakashsangwan on July 13, 2015, 07:48:09 AM

What they do is a calculated risk.

Calculating risk isnt a way on how the chinese do their business, Chinese seldom calculate risk because they are more into speculation. They mostly take on their action without thinking too much which is why they love "gambling" in form of trading by buying through a speculation or hype.
Therefore when the news / hype about greece is on the roll as well as their stockmarket incident, the price drove up higher basically because of them . If you actually noticed, chinese exchanger like huobi was higher by atleast $2-3 during the rally

Scamc0p

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Chinese go all in when it comes to money and they see an advantage to be had in the market.
All in or go home Undecided

ridery99

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Quote from: Miracal on July 11, 2015, 10:35:40 AM

History has been a proof about how crazy chinese people have acted, impulsive, greedy and impatient (sorry my chinese friends) and they have always loved making more money after money.

Do you mean Americans?

HeroCat

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One billion Chinese, just think if 5% from them are gamblers. And from them 20% win - it is 1 000 000 Grin

aakashsangwan

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It is not comparible to gambling. .... What they do is a calculated risk.
And calculated risk is more profitable than gambling.

qiwoman2

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Quote from: Amph on July 11, 2015, 09:11:23 AM

they are addicted to profit i guess like everyone else, but since they are more than 1B, you will notice it more

also they don't care about the tech behind bitcoin, but more about the profit, it was said from one chinese here on bitcointalk, i've never forgotten about it..

That's so true, anything that can turn over a profit in China will raise eyebrows, but then again who doesn't want to be in profit in whatever investment? The only difference is due to the huge numbers involved, when the markets are becomign bearish it could turn really frightening as the herd mentality kicks in.

HarHarHar9965

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Quote from: Amph on July 11, 2015, 09:11:23 AM

they are addicted to profit i guess like everyone else, but since they are more than 1B, you will notice it more

also they don't care about the tech behind bitcoin, but more about the profit, it was said from one chinese here on bitcointalk, i've never forgotten about it..

YES! There are more than 1 billion people in china and people will obviously notice and point fingers at them because their activity seems to be the highest regarding such activities. The chinese would happily make money out of anything, literally anything. I however assumed that china would find interest in the bitcoin technology but knowing that they have google and facebook banned, I don't know what they really do with their lives..

Miracal

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History has been a proof about how crazy chinese people have acted, impulsive, greedy and impatient (sorry my chinese friends) and they have always loved making more money after money. Well, who wouldn't love that, but Chinese people have often displayed that they never really care where the money comes from, until it does. They probably don't know much about bitcoin too, just want to make da money! Tongue

Sakarias-Corporation

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Call me Alice. just Alice.

Quote from: Amph on July 11, 2015, 09:11:23 AM

they are addicted to profit i guess like everyone else, but since they are mroe than 1B, you will notice it more

also they don't care about the tech behind bitcoin, but more about the profit, it was said from one chinese here on bitcointalk, i've never forgotten about it..

Finally someone who gets it !

Amph

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they are addicted to profit i guess like everyone else, but since they are more than 1B, you will notice it more

also they don't care about the tech behind bitcoin, but more about the profit, it was said from one chinese here on bitcointalk, i've never forgotten about it..

qiwoman2

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Chinese have a long history of compulsive gambling..Men and women equally.. In the U.K all the casinos are mainly full of Chinese and Arabs believe it or not and look at MACAO..Many also from Mainland China go to Macao to gamble as well..The stock market also is a more modern place for the Chinese to enjoy their Adrenalin rush..along with the Bitcoin/alt coin markets.

cafucafucafu

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Do they have a gamblers culture? Do they enjoy the thrill or gambling?

Edit: a quick search show that this is known: https://www.psychologytoday.com/blog/minority-report/201407/asian-gambling-addiction

Well now a new btc bubble and crash is coming. More volatility ahoy.

Topic: Why is the Chinese mentality so risky? (Read 3444 times)