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When I first bought bitcoin is was $200 a coin. It was highly "risky" then, it is highly risky now, it was highly risky when it was at 40k, 50k and 60k...my point being it's going to be a highly risky/volatile "asset" for a long time to come. Just like with anything, the higher the risk, the higher the reward..so invest what you can afford to lose and utilize a DCA/Dollar Cost Averaging strategy and you'll be just fine.
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Your analogy uses computers, which were something the world didn't have before they were invented, and was something that instantly changed the way EVERYTHING worked. Each generation of computer breakthroughs just mean the world could run and work in a more efficient manner. The difference with bitcoin is that bitcoin isn't necessarily needed in most peoples opinion. Computers were/are..no matter what anyone said or though..bitcoin is a currency, not a machine.
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That's funny that you bring up the pressing of buttons versus pulling the slot lever when playing slots machines as being considered a "strategy" for some gamblers. I have been to in person casinos before and had friends who did the same exact thing. I of course just laughed at them. I don't think they necessarily thought that it would give them a better chance at winning, but it was more of a "good luck" type deal, where as you state...simply a psychological deal.
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Well let me tell ya what, I sure don't see her winning mother of the mother of the year award anytime soon. This is super trashy for a mom to be teaching her son these types of ways, even if this son is a fully grown man...just smells pathetic.
No, I never would blame anyone else for my gambling losses. The other person you have to blame for your own gambling losses is your own self! No two ways about it.
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I'm really pumped for both games tonight. I'm excited to see the Knicks doing as well as they are, which normally I'm not a very big fan of their and I'm excited to see playoff Jimmy Buckets going up against him and doing his playoff thing more than likely. I mean when it comes to guys in the playoffs...Jimmy Butlers an all time great.
Edit: nvm Butler is out game 2 booo
The second game of course is where I'm really excited to see. Lebron versus Curry, which could be a final showdown, or at least the best showdown we may ever see of those two again..Can't wait!
I think I'm only betting the second game, and I think I'm putting my money on LA..though I'm not sure that's wise.
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I think any addiction carries a level of unhealthiness even if it's something like an addiction to working out, there are negative consequences to that too.
Now what type of investing addiction is a bit different of a story. There's a big difference between being addicted to investing for the long term versus investing for short term. When investing for short term, typically investors are investing in a more risky manner, which can certainly get you in to trouble. Day trading has lead many to become addicted to investing and that's a good way to lose a lot of money quickly.
Everything in moderation!
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I am glad to see this, as bitcoin related crimes have been a bit hard to prosecute. This is something that we are dealing with quite a bit in the collectibles section. We've had quite a few "rug pulls" where coin/wallet makers have ended up keeping private keys for these fancy paper wallets that we collect, and trying to go after them has been quite the task. Hopefully more and more arrest like this will help set the framework for legal litigation moving forward.
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@ChiBitCTy. On the Lions' pick, I am not quite certain why this was bad, I need to learn more about this game hehe. However, it might be because the Lions might trade D’Andre Swift or David Montgomery later before the preseason?
In any case, @everyone. We were 10 teams during the previous season. I reckon this year our league should have 12 teams? Should we find 2 more entrants?
Well that's the thing. At time of the draft pick, the Lions still had Swift ( who's since been traded ) as well as they paid David Montgomery a large contract ( too large in my opinion ). Even still, after trading Swift I still feel like they drafted a running back way too high. Bijan Robinson was the only RB in my opinion that deserved to be drafted in round one. I think a lot of people are pretty skeptical of that pick by the Lions. Time shall tell though. @everyone. We were 10 teams during the previous season. I reckon this year our league should have 12 teams? Should we find 2 more entrants?
I dunno. 10 seems to be a good number, not too easy, not too hard. If we up to 12, at least 1 or 2 teams are guaranteed to have landed a shitty QB as will become apparent by the end of the first few weeks. I'm not totally against it, however. Guess it depends on the level of interest when mid-August rolls around. It will be interesting to see how Bryce Young performs in his first season. It's always a crapshoot with rookies but I read a lot of good things about him. Same goes for CJ Stroud although he's gonna have a lot less to work with than Young on the Panthers. I'm fine with 10 or 12. I think you guys know 8 is not very fun, but 10 might be that sweet spot for most. I'm very interested to see who has the better season and career between Young and Stroud! |
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I am not a gambling addict but some friends are making me look like one because I gamble less and they gamble more, it all started when we got into an argument that investing in Bitcoin is not the same as gambling, my friends who are gamblers, not full-time but more of a gambler than I am, are claiming that there is no difference between investing and gambling, they said if all you doing is investing money on Bitcoin you are no different to those who are gambling in a casino.
Still, I refuse this because I believe they are wrong, Bitcoin market has charts and I am playing with charts even if I am a full-time Bitcoin trader, all I need to do is read charts, and if I am good at it I will win vs gambling, where it's you vs a company which we can never tell if their games are completely fair or not.
Furthermore, I told them that Bitcoin investors tend to get positive results, while online casino gamblers tend to get negative results more than positive result, true or false?
I asked them to show me prove that they make more from gambling than they lose, none of them showed me, but I prove to them that I hardly have losses investing in Bitcoin lol .
Famz, drop your opinion on this, would you categorize these two as gambling? Because the only winning factor from Bitcoin investment is to just buy low and wait for a high price, it's not the same with casinos. Am I not making sense? I will like to hear from you.
I can't say I agree with really anything either sides here are saying. First off, bitcoin and gambling are two entirely different things. Bitcoin was created as digital payment system. Now it's become an investment, just like all currencies are as they are traded and used as investments, but inherently it's a payment system. Gambling could mean a lot of things, but with gambling you win or lose at thats that. Your bitcoin value can go up and or down but as long as you hold on to it, you're losing nothing. Knowing charts doesn't make you a bitcoin trader, and there's a lot more to the price of bitcoin than just what chat movements say ( or you think they say ). There's a certain level of fundamental analysis with bitcoin as well as technical. So IMO you're both wrong. |
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For a while I was only betting sports through a buddy who had become a "bookie" for a group of us friends and other people we went to college with. Once he decided it was more work than he felt like dealing with, I was out of luck. I found bitcoin back in 2014ish, and sometime around 2016-17 I realized that a lot of online casinos were now starting to allow for bitcoin payments. That completely changed the game for me, and have been doing more online sports betting than ever now that crypto, and more so bitcoin are a payment option ( versus receiving shady checks from some island nation).
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30+ Bitcoins? who's him? I think you're refer to Laszlo Hanyecz where he spend 10,000 Bitcoins for 2 pizza and he was not disappointed for doing it, so why you should care with it?
It's your choice if you want to pay with BTC or not, but I believe there's a time where you will convert your Bitcoin to cash because you will need that money in the future, you can't just hold it and not enjoy what you've accumulated so long.
All in all he actually spent over 30,000 bitcoins as he did a couple deals like his infamous 10,000 bitcoin for pizza trade that was the first ever bitcoin for goods transaction. OP- I understand what you’re saying and where you’re coming from, but I think it’s also important to understand that bitcoin is first for foremost designed to be digital cash, meant to pay for things. I personally believe that it’s important that bitcoin be used as a means of currency as that gives it more value, legitimate utility. So personally I feel no different spending it or traditional fiat. |
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@ChiBitCTy. This is good news and it appears the Ravens had the contract extension in their desk ready to be shown to Lamar on draft day hehehe. The team might have thought Lamar could be forced to agree to sign the previous offer hehe. I reckon this new contract will reawaken Lamar 2019 hehehehe.
In any case, I am sorry. The Texans drafted Will Anderson. They have been aggressive in this draft trading for the 3rd pick to draft him. The also drafted quarterback CJ Stroud on the 2nd pick. It appears after Deshaun Watson the Texans are taking this next season more serious?
Well the Bears getting Will Anderson was a pipe dream anyhow. What a first round draft though overall. I didn’t expect for the Bears to get their chance at Jalen Carter and end up trading down the pick one spot (gaining a future fourth rounder) in order to land Darnell Wright. Some believed Carter to be the best player in the draft, but he came with baggage, so I guess the Bears going with a bit safer of a pick and still a position of great need was the right call. The Lions taking a RB at 12 was just crazy. |
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Just awesome seeing the Miami Heat taking out the Milwaukee Brewers, I mean who expected that. I didn't expect the Knicks to win their game either and had put a small bet down on that game , but of course walked away with a slightly lighter wallet. I was going to lay a bet on the La Lakers vs Memphis game but decided against which I'm glad, as I'm just not sure that I'm sure where the series is heading anymore.
As much as I hate to say it since I don't like them, that was a nice win for the Warriors last night.
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This is actually a topic that a good friend and I will discuss (often when one of us has hours to drive being on business or whatever) from time to time. The main reason that people stay poor is because when growing up poor people are often uneducated (there's always exceptions !!!!) and they don't realize that there are outlets out there to help themselves. Social welfare type services that many governments offer. So the issue is often about uneducated people that keep having children in poverty stricken circumstances and the cycle of unawareness, bad habit's and living poor continue on, with someone getting out here and there, but typically not that often.
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PayPal is the exact type of legal criminal scamming operation that made me fall in love with bitcoin in the first place. I discovered bitcoin after having worked in the financial industry for some years. I saw first hand how corrupt payment companies were such as Chase bank and outlets like PayPal. PayPal are scammers. They have their own agenda and will constantly shut down accounts for no good reason. Now to be fare, so does exchanges like Coinbase (which I call the PayPal of crypto). Thankfully you aren't forced to use either one. But they can take their censorings bullshit elsewhere.
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I just got done reading that article, I thought it was pretty funny that they caught him just a bit later that night after having kidnapped his granddaughter. From the sounds of it, basing it off of the things he was saying to the police officers, just sounds like the guy has got a whole lot of mental health issues. Sadly there's really not that much people can do when it comes to helping people with these types of issues.
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@ChiBitCTy. My hope is the Panthers make their pick on quarterback Bryce Young a certainty before the draft begins. This would imply that the Texans, another team that wants Bryce, can use their no.2 pick on the first round to bargain a trade for Lamar Jackson heheheh.
Well Lamar Jackson isn't going anywhere "The 2019 NFL MVP and the Baltimore Ravens have agreed to a five-year contract extension worth a reported $260 million, and $185 million is reportedly guaranteed. The deal now makes Jackson the highest-paid player in the NFL based on annual average value at $52 million, topping Jalen Hurts' $51 million. Hurts inked his $255 million extension with the Philadelphia Eagles earlier this offseason" https://www.foxnews.com/sports/ravens-lamar-jackson-agree-to-5-year-contract-extensionI think there's no question Bryce Young goes to the Panther's at the top spot, but there are questions about the Texans possibly trading down and trying to tank for next year where the top QB prospect is bigger than any of these guys here this year. Really hoping the Bears can magically get Will Anderson tonight. |
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Working in finance, and I'm currently heading up my states retirement plan program, so I've go over 63,000 participants who come to me for financial help at any point in time. The biggest thing I see with my clients is they don't invest enough early on, they have unrealistic expectations, and often they are investing properly.
The biggest regret most people have is not meeting with someone knowledgeable that can help them out soon enough. I can't tell you how many clients I speak with in their 50's and 60's who have no or next to no savings at all.
I've never heard a client tell me that they've saved too much. Keep this in mind!
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The truth is neither of you have any idea what you're doing and should educate yourselves before you keep investing poorly. I'm a broken record on this site, but I am a licensed financial advisor and I hear stories like this every day. You "advising" your friend to put 40% of his wealth in bitcoin is ridiculous. Did you do a full financial plan for him? Do you know how much he's saving for retirement? How old is he, and is he on track to meet his retirement goals based on his age, his family/wife/children situation? What are all of his other investments and how much does he have in them?
I am amazed and how people will just listen to anyone about their finances. Neither of you should be giving or taking advice from people who aren't qualified to do so.
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