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I used to use my crypto assets for gambling in the past, but not anymore. After I realised that it was not good to use your assets for gambling or betting, why? Well, because we know for sure that a crypto currency is a volatile currency, it's obvious that you will be disadvantageous if you use your asset for gambling, so I'm more on fiat or stable currency when I do gambling, mostly using USDT or any currency available; it should be stable.
I know a lot of you used your crypto asset for gambling, as some crypto gambling let you do that, but I think it's not practical to do that. Imagine using your asset and suddenly it increases or decreases, then there's a bad effect of it. But of course it depends on the gamblers; it's your money and asset, so it's your own risk. Just saying that is not practical.
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1. When virtual currency or crypto-currency reigns all over the world, the banking system will be miserable, and a group of people (who do not know about crypto-currency or bitcoin) will be unemployed all over the world, who till now were working at the convenience of various banks.
Disagreed, it might happen, but it's still far from happening. You see, all that's happening right now in the world is banking. The banking system is the main reason why there's budgets for every country, why most businesses are running, and many things rely on banking. So in short, the banking system cannot be replaced. Don't get me wrong, I want bitcoin to be in the main stream, but consider, of course, the other things connected to it, for example, banking. 2: Unemployed people (due to a lack of knowledge of currency requirements or benefits) will not be able to handle this shock in the first place, due to which they will face various financial, lateral, physical, and mental problems, which is a big challenge for them.
There's a process or right transition for everything. You only think about the negative side of bitcoin being the main stream or adopted; of course, before transitioning to crypto currency, there's a proper way for that. It can't be in an instant because, of course, it will create chaos and disorder. So before thinking of anything, think about how bitcoin will slowly but surely be adopted. There's a right process and step for everything. |
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First of all, the question itself is suspicious. Why? Because there is no context on how the creator of the question lost his bitcoin, I think the intention of the post or question is to promote something. Just like the OP said, he sees a lot of answers that give Telegram groups or other platform groups that say they can recover a lost bitcoin, which is a bit suspicious. How can they recover the bitcoin without the concept of how it was lost to begin with? And I'm sure those groups will not do that for free, so they will charge for their service, but what if it's also part of their plan?
I don't want to judge, but the question itself is lacking in information. At least provide a context on how the bitcoin is gone. Anyway, that's right, don't just click and join other groups on other platforms; it can be malware or a trap, so better be careful. For instance, if you really lost your bitcoin without an idea of how it happens, then create a report to the platform where your bitcoin is stored. If you lost your bitcoin because of your doings, like sending it to the wrong address, then it's entirely your fault, and as you know, bitcoin transactions are irreversible.
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I base my question about whether a gambler can become a good bitcoin trader, because both of them share one factor which is risk. A gambler is a risk taker, he stakes his money without knowing the outcome of the game that he is about to play. There is no guarantee that he will win, yet he goes ahead to play, knowing fully well that he can lose his bet. Same thing with a bitcoin trader, he goes ahead to engage in trading knowing fully well that the market can turn around negatively for him, making him to lose his bitcoin. Yet he goes ahead to trade in the hope of making profit.
Although there are some differences between the two, like most gambling depends mainly on luck. You play and let luck decide fate of the game, that is the risk factor, because the gambler doesn't have any control or influence to determine the outcome of the bet. Also a bitcoin trader doesn't have any control or influence to determine how the market swings, he takes the risk to trade his bitcoin without knowing the outcome whether it'll be profit or lose. The diffidence between the two is that a bitcoin trader can predict the market, while a gambler can not predict the outcome of a bet, except in sports bet.
So if a gambler where to go into bitcoin trading, do you think that the experience of taking risk in gambling will be an added advantage to face the risk of bitcoin trading?
I think that someone with the mentality of a trader can be a good gambler, but someone with the mentality of the average gambler will make a bad trader, let me explain myself, traders by the nature of their jobs have to evaluate the risk they are taking, so when given several bets they will take the one they evaluate as the less risky and the most profitable, but a gambler is used to take risks regardless of how high they could be, and this is a huge mistake when trading as it is in those instances in which massive losses can be accumulated. I disagree with this. A trader is based on technical analysis, or, in short, more on technicalities, and you said that they can be a good gambler? No, gambling is mostly about luck. How can a gambler apply its technicalities? Maybe in some games because traders can distinguish the risks to take or not, but not all the time because most gambling games involve other people, such as their opponents or the middleman who operates the game, while in trading only the trader and the market. So I disagree that a trader will be good at gambling. Yes, maybe, but don't say that you need to be a trader to be good at gambling. But being a gambler doesn't mean he doesn't have a chance to be a good trader; if he or she spends time and effort studying trading, then I think he or she can be good at it. In short, the context of being a good trader and a good gambler will depend on the person itself. |
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Of course yes, and if your concern is that the owner will have a privilege, it depends. Some betting company owners include themselves in the terms and conditions, which means that if he wants to gamble and bet, then he should also undergo registration, and if the owner wants some special privileges, then he can, but what's the point? He or she is the owner of the betting platform, and even if he or she wants to earn a lot, of course what they earn comes from their platform. Maybe on another platform that they own, they can bet on that, but on their own betting platform, I don't think they will get anything from that. Maybe they can make a bet, but just for fun and entertainment. And I don't think they have the time to play or bet because they are busy with their work, but maybe if they have a little time to entertain themselves,
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Because Bitcoin is not for trading, Bitcoin is for long term investment.
I don't think it's bad for trading, bitcoin also has volatility that is worth trading. Traders can determine their favorite coins to trade after some evaluation. Even on some exchanges you're allowed to use up to 100x leverage, if the Op is good enough at this then he can generate profits bigger or faster than long term investments. I agree that even though bitcoin is considered a long-term investment, it's up to the trader to see the potential profit. That's why we have scalpers, but there's no specific time or day to consider bitcoin as a long-term investment; it depends on the investor or the trader. That doesn't mean bitcoin is long-term; you will just let it sit there. You can use some for trading to earn money because we have needs in everyday life. Altcoin doesn't mean you will lose money or that it is not good for trading; it, of course, depends on the traders. Many traders take advantage of altcoins, which indicates trading will depend on the skill and knowledge of a trader. So any coin can be profitable; you just need to find or take advantage of it. If you keep losing altcoins, then it's the trader's fault, not the coins. I personally trade not just bitcoin but other altcoins and shitcoins, and so far it's gone well. |
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All over and over, gambling is all about luck. Yes, it can be both luck and skill on other occasions. For example, in other games or specific casino games, it yes requires skill because, of course, you can't play the game if you don't know the rules and don't have the skill to execute, but in all, you need luck in order to have, for example, good cards for poker, tongs, or in the card games in short. Lucky to have the provability of a slot machine.
So basically, gambling is all about luck and skill. Knowledge is just second to luck, but of course a mixture of luck and skill is important. You can't gamble relying on pure luck, like you can't play gambling if you don't know how it works; you just rely on luck. That's not it. So if you're a lucky person, then that's good for you, but if not, then better not start gambling, because I've known a lot of gamblers who are very skilled but don't have luck.
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Bitcoin provides a lot of opportunities even without investing or using capital to earn, for example, by joining signature campaigns, faucets, etc. The only limit is your patience and dedication to earn. Those ways of earning don't require capital, but they will require a lot of effort and patience to earn. But if you want bigger earnings, then it is not the wrong choice to invest in bitcoin. There are also a lot of ways to earn bitcoin. I only started earning bitcoin even without a capital; I started from faucets and mining, and then after I discovered other ways to earn, I studied those fields and still keep on learning. Right now, I do campaigns, which require effort, but it is worth it, and I still follow my routines. It's a bit exhausting, but it is worthy and rewarding, so I don't regret anything at all about investing time and effort in bitcoin.
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What joy is it in keeping record of one's gambling life experience when all we could see are losses in all the bets we made from the slip, though we should be able to track same on the casino profile when we check in our gambling bets history, but am very sure that most gamblers don't consider this as an interesting action to take, keeping record if not for a specific demand will only make us feels regrettably from how we gamble and the rate of amount of money used for gambling purpose.
But the essence of keeping records or tracking losses and wins is a good thing for me. Why? Business-minded, do you want to know where your money goes? How much money have you made or lost? No right? Keeping records will keep you aware of what's happening in your capital; you will see if you are gaining or not. It's not about feeling sad or having regrets about your losses; it's about how you will manage your money. Maybe for some people, they don't care about the history or record of their gambling, but for others, they do this practice to handle their money and efficiently see how well they do in gambling. So I don't get why gamblers, especially online, don't keep records. It is a good practice for money management, yet they don't do it, and you will be confused about where your money goes or will not be aware if your capital is earning or not. |
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That's the basic knowledge that many beginners in trading forget. They abandon these two things, hoping to still earn; some rely on free trading signals or purchase signals from paid channels or groups. Without them knowing that, even though it is hard to learn and execute these two elements in tradition, eventually it will be worth it. And it's easy to learn this thing because all the resources, such as ebooks, videos, or study materials, are all over the internet; you just need to give it time and patience to absorb them. Anyway, it's good that you give your friend advice like that or an idea; it will be helpful for his trading journey. We just hope that he will know more about the two things you've mentioned. Yeah, it's a bit hard to absorb it all at once, and there's no guarantee that you will always have a winning trade, so I guess you should also have a good mindset while trading.
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- Maybe those kinds of gamblers have a permanent itinerary, and the weekend is really reserved for them to play gambling in a casino. And I don't see anything wrong with his task activity. I also rarely see a gambler who has such a habit every weekend.
Maybe the weekdays are reserved for him for personal work, so it's like that, so his work won't be affected, and if what I'm thinking is right, he's doing a good job then. And I hope all gamblers are like him when he really is like that.
I think it's hard to only gamble in weekend because we're free and we can do anything that we want. As long as our working friends or boss is allow us to gamble, most of people will being transparent and gamble at work. Gambling is one of many ways about entertainment, similar like people who're playing game at work. Yes, there's nothing wrong with playing gambling at work or during lunch time at work, because I also do gambling even when I'm in the office. What is bad is that I don't think casino websites are allowed in the office, or maybe you can't access gambling sites at all because it is part of the company's security, so if a gambler who works at work can access such a website, then it is safer to find the legitimate website because, as we know, many websites contain malware, viruses, or are used for phishing and scamming people. So having a work ethic is important, and it includes that an employee should protect the company from any viruses that could affect the company. So if you really can't resist to bet or gamble, then first make sure your website is clean; second, still do your task; and for the courtesy of your company, know first if there will be no problem from the company knowing you are playing gambling games. |
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Good point about hiding and feelings. People hide things they do because they are either feel uncomfortable (like feeling ashamed of it) what they do, or the things they do has illegal context. Is gambling illegal? In some countries yes, in some not. I would understand if person hide that he gamble in country where it is illegal. About feelings, if I am an adult, why would I be ashamed of gambling? Or feel uncomfortable from doing something that brings me fun. Seems absurd to me.
But many do feel ashamed about their gambling habit, even if they are adults. In the first place, gambling is something not to be brag about or announced to anyone you know, maybe just to your trusted and close friends. The root cause is the stereotyping created by many people or the crowd; they think that gambling is illegal and bad, but the ones who create that description are the people who do it; there is no gambling addict if those people control themselves; there are no crimes related to gambling if they discipline themselves; in short, the people themselves are the reason why gambling is being categorised as an illegal or bad habit. Well, we can't please all people, so if you don't want to be judged, then it's better to hide it as I said gambling habit is something not to brag, keep it low and keep it safe. |
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Many believe that gambling is for young people online as they need thrill and and fun. But I think that even old people can enjoy gambling.
The set of people that are suppose to be enjoying gambling are the elderly people. When you retired from work and you nothing doing, you may choose to gamble for enjoyment and relaxation. You will definitely be bored when you are at home. You may just keep yourself occupied with gambling, and before long, and I am sure by then the person will have experience, they won't be gambling with a large amount that will have any effect on them even after losing. There should be any age to retire from gambling at all.
It depends on everyone, but I don't think there is anything like a time to retire from gambling. You can choose to stop gambling whenever you want, and if you like, you can keep on gambling till your old age. I just see it as a choice, so it's up to everyone to decide. Gambling sites are always against underage gambling, but there's something like retirement age, so it's left for everyone to stop gambling when they want. Gambling isn't a kind of hired job which those who engage in it retire when their service years are over however, I think there should age limit in gambling sites that should not allow people above 65 years to engage in gambling. At 65 years a man isn't a expected t gamble because I think the effects of gambling isn't supposed to be experienced by aged people as it might medically be very bad for their health. Wether it's a choice to gamble at old age or not, I don't I think it's good from people over 65 years. Well, if you are referring to both online and physical, I don't think that at age 65, it is not appropriate for that age to gamble. Why? Because I've known quite a few elders, including my grandparents, at that age they treat gambling as their past time only, as their entertainment, and as such, they don't waste too much money, money that is enough to make them happy. For example, their bonding with their friends is gambling, and not every time gambling games should involve money. Sometimes you just need to enjoy the game, and thats what the elders do. There are more older gamblers that play because of the fun and not about money. So I don't think that at age 65 you should limit a person from gambling. With money involved, yes, but in games only used in gambling, they should enjoy it as they age we can't stop them on what is making them happy, maybe just guide and limit them. |
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What if some country decides to pay pension to working population in bitcoin ? What percent of people will agree to getting pension in bitcoin in your opinion ? What will be the benefits and limitations of this occurrence in long term on people and economy ?
I don't think a lot of people who will receive pensions will be happy about this. Yes, they can receive the same amount, but in bitcoin? Because bitcoin is a complex thing and people who receive pensions are old, I don't think they can manage it by themselves because it will take extra work for them to convert it into their desired currency. Second, the government still hasty with bitcoin, so it's impossible to implement it, but your question is "what if?" If it happens, then that would be great because it means that the government will accept bitcoin eventually, and it will also be much better if the receiver is also happy with that new form of receiving their pension. limitaios? I guess the transaction fees. As we know, transferring or converting bitcoin into USD or any other form of currency requires fees, and I think it will be an issue for many. |
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There has been several occasions of people saying buy and hold without consedring the negative effect it has impacted on many people live. Lets take for instance, when bitcoin was at ATH of about $69k somany people bought at same price expecting it to hit $100k and above while some baugh at the price when it was 40, 50, $60k conservatively. When it was going down to even $20k people keep on holding. Now it's about 2 years since bitcoin fell and never meet up with the price they baught. And they are hoping it comes back after losing huge amount of money. New investors are are taking advages of it while the old investors are regretting.
So I sudjest sometimes if the market is going down beyond bearable measures, there is need to swap your BTC to USDT to keep your capital safe in other to buy back when it is going up to avoid loosing some huge amount of money.
So what's your sudjestion on this.
Dude, that's why predictions and technical analysis are required before buying an asset or bitcoin itself. Of course, if the investor decides to buy bitcoin, he or she should consider or do analysis before buying and do long-term trading. Long-term trading doesn't mean a guaranteed profit, and if you do long-term trading, the trade still has downsides. That's why equity is important for a trade. Long-term doesn't mean it should take years; some investors choose to let their assets sit for years. Maybe because they don't have anything to do with their asset or they just choose to hold their assets there, trusting bitcoin, but of course it's the call of the investors. Yes, it could be a disadvantage, but there are different meanings for investors in the long term. Also, short-term trading is very risky. That's why it will all depend on the situation and how the traders do their thing. |
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The ones that expect too much from bitcoin and complain if they don't get what they expect are the new ones. I mean, they've entered bitcoin lately because of the hype. They joined it and invested in it, thinking that in an instant they could earn a lot from it, but it's not. That's why they are the ones that complain too much about bitcoin, but for those who're in bitcoin even at its lowest price, they understand a lot about bitcoin, like what the OP says's bitcoin still has a lot of potential in the future. Imagine that bitcoin is still strong after several years, indicating that bitcoin will still be strong and has the potential to grow. What I'm referring to is its technology; bitcoin can still be used in many things; we never know. That's why I don't listen to the people who complain too much about bitcoin, because I know they are the inpatient ones.
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First of all, what your friend did was very wrong. He let his thoughts and greed to recover the losses, and he let himself trade after a loss, which indicated that he was not in a good mental state. Now your friend has learned it in a hard way. Youre right, a trader should only focus on one asset to trade. Well, many traders trade in different coins, but they can manage it; they know about that coin; they study it. But from the looks of what happened to your friend, he decided to trade in altcoins just because he sees that altcoins have a price movement, which is a bad decision.
And with that little capital, he trades in different altcoins? That is like a suicide; that amount of capital can only be traded for one coin; in fact, it is still risky to trade with that capital because it will give you a little equity, and maybe the reason your friend loses almost all his capital is because he trades with high leverage, which is not suitable for the SAIF capital.
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Well like others say here, nothing becauss I still play the allocated amount that I usually usef to gamble, for example in every session I only use $100 worth of BTC if I'm playing in a crypto based casino, then even the BTC price changes I still will used $100 worth of BTC so nothing changes, I still will follow my limit in gambling, but of course if the price moves I will choose not to gamble at all, because I will be focused on doing trade at that time. I only do gambling is the BTC price is calm or minimal movements. But yeah in summary nothing changes in my gambling habit it will still be the same. Maybe the the impact of Bitcoin price movement will be in other aspect like in trading or such but in gambling I'm sure gamblers will not be affected to it, as you will only spend the assets you have.
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Recently one of my friends told me about some gambing / gaming sites or apps like Orion Stars, Milky Way, Fire Kirin, Gamevault, Riversweeps, Ultra panda and few others. He told that these are very popular games but i told that i am not aware of these sites. I first thought that they could be gaming sites but later i find out they have gambling games and are in fact casino. A few of the sites / App links are http://web.pandamaster.vip/game/pandamaster/ , http://web.orionstars.vip/play/orionstars/Has anyone known and played at these sites? Do let me how was their experience and what sort of games are there ? Are they pure gambling sites or a mixture of gambling and gaming sites ? Although you need coins to play at these sites and you can redeem the winning coins into fiat money. As a cautious person, before previewing your attached links, I use a link checker to see if those links are safe. The result is that these sites are risk-free, but they lack more information, so it's up to the readers to check the site itself. Based on the mentioned sites or gambling sites, I'm not familiar with them, maybe because they are new websites or such. But I'm more focused on the application than the website. I like to do gambling online that has an application and can be downloaded to app stores, which will indicate that the site or casino is safe and trusted. Casino games are simply games that involve money, so they are the same as gaming sites. And gambling sites only have games that can be found in physical casinos, as the websites are dedicated to replicating the traditional casino for easy access and convenience for the gamblers. |
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I think it will depend on the situation. But I mostly do pro-trend or follow the trend because I earn more from that method. Sometimes I also do counter-trends, but not often because I'm still not confident in doing that method and also because I don't have the expert skill to do so. That's why I also still look up references to know the trend, but I still map my own chart and follow it. So yeah, it will depend on the situation. I know a friend who does counter trend a lot; so far, it's an effective method for him, but as I saw mapping analysis, I saw that we have a different setup. That's why I realise that our trade will depend on us who do the analysis. That's why I don't do much counter trade; it's too risky for me, and I know I'm not confident and skilled enough.
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