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This is what I usually forget even in gambling, so in the end I would always lose instead of gain.
I used to take profit in trading before, when my capital gains more than 10%, I would take it and move it into another crypto(reinvest), there are also circumstances where I would cash it out if I need extra money to spend.
It is also important to make a plan on when would you take profit and what would you do with that profit ahead of time.
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~snip~
1. Learning on YouTube and other PDF resources online
2. Attending conferences and watching trading podcast
3. Find a mentor, whether offline or online. You may not be close to this person but always study his trade
4. Practice always and maintain consistency
Everything mentioned above seems very simple to those of us who want to learn trading. However, not everyone has the time to start learning slowly. That's why many people want to pay someone to teach or guide them in trading so they can fast their progress in learning. Paying money to learn trading is like investing in ourselves because it's similar to paying to learn piano or paying for a degree Even if you pay you would still need to make time in order to listen and understand the lesson, the only difference is that when you pay you would have all the things ready for you unlike when you are DYOR, you need to search it all up. It would all depend on each person, as you mention not everyone have time to learn there are also who doesn't have much to pay for it, that is why they are doing it on their own searching for free guide or book to learn trading. |
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It's not money addiction, it's the need for money. You can't turn on your lights and gas if you have no money. We are slaves to work constantly because of the need to have money to live.
There are places where you don't need money but it would be in the most remote areas where the community lives in a slow lane.
I also think it is not addiction, but it would depend on how they would earn their money. For me addiction is when they are bound to destroy their life, so if they are earning the right way or without illegal activities then it wouldn't be addiction, they are striving for a better life. Honestly, if I could I would rather stay at remote areas to have simple life than to overwork myself. |
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Investor would be the safer choice, business is so risky we don't even know if it would be successful or not, so it is better to be safe in finding investor at least the amount of money that you would risk would be lessen, unlike if you would take a loan for it.
If it succeed then the profit isn't much as like when you are the only one in the business, but you could always start a new one from your profit right away, unlike if you took a loan and it succeed you need to pay up first before starting up a new one not to mention the interest that would accumulate while paying it.
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How young exactly?
For a 5y old no way I'm gonna talk about blockchain fundamentals. For a 14 years old, it's a different story. Learning early on from a trustworthy source instead of finfluencers and scammers could be game-changing actually.
I agree, it would depend on how young we are talking. If we are talking about young age that could grasp the idea or know the importance of money then it would be great for them, but for those who doesn't really care about it, then it would just be a waste of time. Honestly when I started my crypto journey I met some young ones, teenager to be exact, those teenagers are still in school at the time but they are earning their own money in crypto and helping their parents financially through it. |
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I don't really give out advice to invest, I would rather tell them to save up in crypto rather than letting their excess money sit in their bank account.
I would also tell them the pros and cons of it, but I would never introduce crypto as a main source of income, if they would only rely on it, then they are risking their life on the line, not everyone could earn a stable income in trading and if it is their only money then it would be drained by their expenses.
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There is absolutely no Source of income that is free but some of my Bitcoin investors friends who are as much gamblers would not want to agree to that.
Currently, there had been several airdrops projects ongoing which participants are earning crypto coins without investing of money but executing some tasks.
So some of my friends says such funds are free money so they are delighted dedicating it to be spent on gambling and when they lost it all, it would be easier to let go because they did not stress to get the money.
Meanwhile... This usually comes a huge amount of money beyond their normal gambling budgets.
To me, they can utilize these so called free money by adding it up to their Bitcoin portfolio or even used it to spend on necessary things instead of dedicating to lavish it on gambling.
You are right there is no free money, they executed a task so there for it is their reward or payment for participating, even though they didn't invest money they did invest time. But you also forgot that it is their earning they are free to do as they please to their money. It is not just for those who earns in airdrop, you could also tell it to those who are receiving their salary or taking their profit from trades or crypto, they all could use it to increase their portfolio but some of them still choose to " dedicating to lavish it on gambling." |
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I would lend out money, but it would depend on where it would be used.
If it would only be used for gambling, isn't emergency and not really important then I wouldn't help them out, I mean I could use that money on something important for me or my family so why would I lend it to others?
It would also depend on a situation, if I know that the person who is asking to borrow money from me spent his/her money on unnecessary then I wouldn't help them, for me they are the problem not the money if I help them then they would just continue to live like it, they wouldn't change.
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For me I could say that it is true, If a gambler couldn't control their greed they would just continue until they have nothing left.
As a gambler we need to set up our limits, know when to stop or quit, if we couldn't control it we would just continue to play even if we already have a good profit.
We have to learn how to be contented, if a gambler would be controlled by their greed they wouldn't stop until they lose everything.
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Hello,friends
The question is more for those who once converted a lot of bitcoins into fiat to their bank accounts
How did you do it so that the tax authorities and the bank manager would not question where the money came from?
The thing is that many years ago i bought my bitcoins from a person in cash and he transferred them to me in my presence
How can i make sure that this money is transferred to my bank card without any problems?
-Regards
When converting my Bitcoin into Fiat, I used to do it on our local crypto wallet which allows us to easily purchase and sell crypto into our local currency. But now I am doing it on centralized exchange or trading, to be more accurate I am using binance to trade my crypto into cash everytime that I wanted to. I never really experience any tax other than transaction fees in cryptocurrency. If you are concern about being monitored or tag on ALMA, then don't send a huge amount in a single transaction try to do it separately with small amounts. |
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Lately, I have started day streaming as a sponsored gambler on one of the casinos I use to be a tester there, I chose one of the known platforms to start my stream, bought the gadgets I need even though Unfortunately I live in a country where the internet speed is limited, the quality of my stream isn’t as good as other popular streamers, however, I have got much support from the community and viewers, had fun and good slot hits.
For now my experience is pretty good for now, but I certainly need some advices from you to upgrade my channel, community, and how to grow and to the next step.
Do you think it is a bad thing to do, promoting gambling?
There are so many streamers that promotes gambling, promoting it isn't a bad thing, but you should also warn them those who would watch your stream or videos about how risky it is, and it isn't always going to be a profit sometimes or most of the times gamblers lose too. This is what those streamers are forgetting, most of the gambling streams or promotion that I watched are always winning and hyping the viewers, they are convincing their viewer how easy it is to earn money in gambling. |
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Yes I do believe on it, although it would be hard to prove, but such thing isn't impossible.
Bribing athletes just to lose match in order to win a high stake bets, surely this has happened so many times before.
There are also times that when a good team or athletes lose or make some huge mistake, it would get me to think that maybe it was intentional, maybe they just throw the game because they got paid for it.
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The gambling is the game with both the possibility,but most of us fail to understand the possibility of losing in the gambling.So if the gambler get into the gambling,in the behalf he had agreed to lose the capital on their bad luck.Some new gamblers most feel this way of thinking after the loss in the gambling,but the experienced gamblers will ready to move on,because they know with their knowledge he can make the big money in some day.One if my friends had loss nearly 2000$ in the gambling,because of his loss even his family suffered a lot in financially.Even his family not able to afford to pay their rent for their house for the few months.
I had suggested my friend to quit gambling and I had feel that he totally get addicted to the gambling.Which was the cause for the many high risk to get into the complete loss.But he clarify me,he had loss the money because he had follow the same betting strategy with the changing algorithm of the gambling site.From his experience,I had learned we should not follow the same betting style for the changing algorithm.
Now he had decided to start the gambling again with the loan money to balance the previous loss of 2000$.What is your opinion on this,I had suggested him to go to the regular job to reduce the loan in step by step to reduce the loan burden.But he had word of “We can earn,Where we had loss everything “.Share your opinion on this.
For me it is clear that he have a gambling addiction, his family would surely suffer more in the future if he wouldn't change. Maybe he would realize it someday those words that he said, there are things that you couldn't earn back when you lose it. He haven't loss everything yet he still have his family, and surely if this continue it isn't just money that he would lose due to gambling. There is nothing that we could do or advice for those people who doesn't want to help their self, they should be the one to initiate the change if they want to. |
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~snip~
So the question now is: What could really put a gambler in such a situation, addiction, or greediness?
Foolishness, they wouldn't even be on that situation if they have a control on their own or they are in their right state of mind. I don't think that I would ever be in that situation, I control or limit the amount that I gamble, I only play with my excess money. |
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Just from the title alone… I wanted to ask what possibly the best wallet to hold bitcoin in?
Before anyone says that it depends on what I need specifically then here is what I am here for. I can not decide which one really is the best based on the things I want. First of all I plan on holding some bitcoin (not huge amount) for a foreseeable future. However I also plan on swapping it for usdt from time to time aka when the price is getting high. I need a wallet that has low fees, preferably decentralized, and is secure.
Any recommendations?
Best wallet would always be offline wallets, ledger would always be my top choice for securing and holding my crypto. Sometimes I would also use a paper wallet if it is just a small amount and I know that I wouldn't hold it for a long time. And for swapping BTC to USDT or other crypto, you could use Nano Ledger Live if you would choose ledger for your crypto. |
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Nope, my parents doesn't have an investment in crypto although they are aware of it.
They also know that I am earning from it, I think they just don't want to invest in it, they just want to enjoy their life, and I am not against it cause it is their money.
I don't really like to force others to invest in crypto just because I am earning on it, I know how risky it is that is why I would just leave it up to them if they also want to invest or not.
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Nope, I don't mind being alone in fact I prefer to be alone most of the time.
I enjoy it and somehow it helps me clear my mind and relax.
I am not against being in a crowded place or meeting people, it is just that I only hang out to the people that I really like or comfortable with.
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I think the only investors who takes advice from non-investors are either newbie, lazy or fool, I mean why would they even take it or believe it? they are the investor they should have done their research before investing so they know more than those non-investors.
They should know how to manage their own funds, decide for their self, if they would always rely on other people they would surely end up losing more rather than earning.
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It is not just meme coin, scam projects are also tarnishing crypto currency.
Cryptocurrency has always been connected to or been accused of being scam because of those projects.
For me if an investor or trader falls victim of those scam projects or failed altcoins, it was their fault for not doing a proper research.
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There are so many type of Soup, so it would also depend on what soup we are referring to and how are they being prepared.
For me soups aren't as healthy as it was before, people now use so many MSG or artificial flavor just to make it taste better.
I believe that only few would cook or make a soup from just natural ingredients, and for me those soup are the ones who are really healthy.
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