Trading has always been something that people viewed as difficult, at least that's what I thought when I started, but I like the fact that I see a lot more people doing both now. I don't have a specific number but in the little things you can have an idea of how much more people are into trading now. I remember seeing the post about the amount of teams that registered for the KCGI trading event, and all I could think of is how impressive it is that over 1500 teams each team consisting of different traders have signed up for something like that. I might be making it more than it is, because I'm a big fan of trading in general, but I'm really glad trading is becoming more and more accessible. You are right, in fact, it is not limited to professional investors only. Nowadays, ordinary people are also participating in it. Many have chosen it as a source of financial freedom and alternative income. However, as there are benefits in training, there are also disadvantages. No one can say for sure that he will make a profit. The results here depend on the possibilities. Those who invest with skill, planning, and control make a profit here. But most people, especially new investors, face losses here. Trading has become easy in the present era, but achieving this success is not easy. To be successful here, you have to move forward with education, risk, and patience. |
|
|
|
Lately I have been thinking……..what do people nowadays consider bitcoin to be: as a digital asset for storing value and investment or as a currency which was the initial purpose of its creation.
I did a bit research and found out that the perception of bitcoin vary among different individuals.some consider bitcoin as an investment asset, other consider it as a currency and some people consider it as a revolutionary financial tool.
The majority of people consider bitcoin as an investment asset and they Hodl their coins for a long run. The other who consider it a currency keep it for their transactions and some business also accept Bitcoin as a means of payment.
Open thread: What is your type of perception about bitcoin; do you consider it as a currency or as an investment asset or both?
I think Bitcoin has changed over time and circumstances, so it cannot be limited to a specific unit. Bitcoin is basically a decentralized digital currency. Where an individual enjoys the convenience of transactions without being controlled by any center. But from different people's perspectives, it is different. Some see it only as a digital currency, some see it as an investment asset, some see it as a path to financial freedom, some see it as digital gold, and some see it only as a way to get rich. I think it is wrong to limit Bitcoin to just a currency or an investment asset. Because it is a technological innovation, it is also a symbol of financial freedom and decentralization. |
|
|
|
Someone said that Bitcoin is for the rich, but that's not completely true. It might feel like Bitcoin is for the rich due to the media focuses on celebrities and billionaires buying and benefiting from Bitcoin. This creates a perception that Bitcoin is a rich person's asset. Even during network congestion, fees can spike making small transactions very expensive. But let's not forget that Bitcoin is neutral, it can empower the rich or help lift the poor, it actually depends on how communities adopt it. So understand that Bitcoin is for everyone, you can buy tiny fractions, not until you afford a whole Bitcoin.
Bitcoin is a neutral technology. Many people think that you have to be rich to invest in Bitcoin or that only the rich will get their opportunities here. But this is not the case. A person can invest a very small amount of his money here. It is open to everyone, rich and poor, and everyone can enjoy its opportunities. With this feature, a person can invest $ 10 from his income. There is no barrier here that you have to invest a certain amount. Here, anyone can invest as little or as much as they want. In addition, the real benefits of Bitcoin depend on who is using it and how. Poor people can also participate in the global financial system using Bitcoin if they have the right information, training and technical facilities. |
|
|
|
It doesn't matter if they are rich or poor people could still get addicted to gambling it only depends on how well they could control it and how much they could spend on it.
For me the only difference is the amount that they could risk in gambling.
They might not be addicted to the profit or gains but the feeling of winning or being a winner hitting big or something else.
Some are not addicted to the being a winner, they are addicted to the satisfaction they feel when gambling, it doesn't matter whether they win or lose it's just something they can't control. People like this would go to any length to get money just for them to fuel their gambling addiction. Both the rich and poor people might go through this, it's kind of a mental disorder and it takes a lot of discipline to stop Being rich or poor does not determine the likelihood of gambling addiction. In this case, the determinant is how much control one has. How one takes risks and how one behaves with gambling. In reality, there are many people who are addicted only to winning at gambling as you said. Some are addicted to making money. However, if this addiction cannot be controlled, many take financial risks beyond their limits. Moreover, this not only results in financial losses, but also in long-term behavioral, mental, physical and financial stability. However, if this addiction is not controlled, the poor suffer more. If the rich suffer from gambling, it does not have much impact on their lives. But if the poor are affected, it takes them a long time to overcome the situation, especially if they do not have control. |
|
|
|
Generally, it's important to distinguish between gambling addiction with loss of money and gambling addiction without loss of money. People often don't make this distinction, or they make it implicitly, lumping them together. Classic gambling addiction, which brings you close to financial ruin, is more serious and requires much more rigorous therapeutic measures—such as a ban on gambling, a change in activity, a stay in specialized treatment facilities, and so on.
But let's discuss gambling addiction without loss of money. The reason for distinguishing this particular form of gambling addiction is that it's milder and likely treated differently. What do I mean by this? For example, these are the online games that teenagers enjoy playing. They primarily spend a significant amount of time playing them, which leads to difficulties in school or social adaptation. But since the games are generally free, this type of addiction is generally milder, as such a gambling addict typically wastes a significant amount of time unproductively, but has no financial problems overall. What do you think about gambling addiction without losing money? Do you think this type of gambling addiction exists, or is it a far-fetched problem? If so, does it require a fundamentally different treatment?
Although we evaluate gambling addiction through financial losses. However, addiction not only causes financial losses, but also other problems such as loss of control, distraction and neglect of important aspects of life. Apart from losing money, someone can also become addicted to gambling-like behavior. This affects mental, social and educational life. In addition, there are many online games that are casino-type, but even though there is no real money involved, today's children and adolescents spend time in them. Although there is no loss of money and no risk, they are suffering from mental damage. As a result, their educational ability, skills and self-control are being reduced. Therefore, even if there is no financial loss, there is no room to view it as a trivial problem. |
|
|
|
Surely Bitcoin wasn't created with specifications for the younger generation, however it's panning out that it's characteristics happen to align more with the younger generation.
Younger people resonate more with technology and Bitcoin is inherently digital. The older generation appear to be sceptical when it comes to new technology and would prefer the traditional Commercial banking systems for their basic and complex transactions.
Personally I think what matters most is a sincere desire to be open to new technologies alongside openness to move a little from the flat currencies.
Could more be done to include the older generation?
If we want to connect the older generation with Bitcoin or digital currency, then some steps need to be taken in this regard. The technical usage may seem complicated to them. Moreover, the fluctuations in the currency may affect them. In this case, they need to be reassured about its use and security with real examples. In this case, the younger generation can help their elders in their families with technology. As a result, the acceptability of digital currency will increase a lot. |
|
|
|
As the title says, I have observed that most gamblers enjoy the weekend because they are free from work and will have time to gamble on the matches to be played that weekend. Majority of them will say it's time to make some bucks on that day. Some people that don't have money to book for their games but will look for money by every means.
I want to tell you that gambling isn't profitable and not compulsory for you to gamble when you don't have money. If you risk the money for your basic needs to gamble, good for you, you face the consequences alone and don't feel bad when a friend did not lend you money to gamble with.
A friend came to me to assist him with money and I asked him what's the problem so that I can know the gravity of his need for the money. He told me he has a sure bet and promise to pay me back immediately, the game is over. I didn't bother to ask him how much, I told him that I don't have money. He pleaded with me but I stood on my ground.
The next day he came to me angrily and saying all sort of words to me that I am the one that prevented him from winning big because I didn't give him the money he asked. He said he was supposed to win $2000, assuming I listened to him and gave him financial assistance. He has distance himself from me that I am a bad luck to him.
I got confused and started thinking if really I was the cause of what happened. I want to ask how many of you here have been blamed for someone else losses.
If you were in my shoes how will you feel.
When a person wants to join a game like gambling, he wants to do it on his own decision. And here, whether he loses or wins, he alone will bear the consequences. He asked you for money but you did not give it, this is your responsible behavior. Because in gambling, no one can say for sure whether he will lose or win. And if you gave him money as he said, then you would not only have given him money but also would have participated in his decision. If he had started playing with the money and lost the game, then he himself would have suffered financial losses and at the same time he would have lost your money, then he might have delayed returning your money. Again, by helping him with money, you would have also become morally responsible for the loss. So I think that by not giving him money, you actually saved him and yourself from risk. Later, your friend's complaint that he could have won if you had given him money is a reflection of his mentality of blaming others. Just because you are his friend, you do not have to accompany him in all his demands. You have introduced yourself as a real friend and, seeing his misfortune, you had the courage to say no. You did not accompany anyone in a risky decision and maintained your own moral position. I think your decision is correct and commendable. |
|
|
|
Thinking of this, Bitcoin have been around since 2008 which is over a decade now and truly speaking it has changed the way we see money. Since it's not controlled by any government, this makes it borderless as anyone can send and receive value in few minutes and it tends to give financial freedom to anyone that invest into it reasonably.
But reasoning this carefully is Bitcoin stable enough to replace our everyday money or just a digital assets like gold and others relating to as the price goes up and down on a daily basis. On a second thought is the truth in the middle of being the future of money or a digital asset? Since it can be used to hold and protect wealth against inflation or anything of such.
What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?
I agree with you that Bitcoin was originally created to create an alternative financial system. It is not controlled by any center and has blockchain security, and transactions can be made from anywhere. A true symbol of financial freedom. However, whether Bitcoin is stable enough to survive as an everyday currency is a big challenge. Because its price is very volatile. Due to price fluctuations and instability, people may not dare to use it for everyday transactions. Bitcoin is currently working more as digital gold as you said and this has happened through savings rather than transactions. So I think Bitcoin will be established as digital gold because it has gradually become a safe financial haven. |
|
|
|
Earning money is hard. Saving money is hard. Getting rich and being able to live comfortably is hard. But the truth is saving is not enough. Lots of people will ask how to really get out of poverty but the simple straightforward answer is that you need to be earning more than what you are spending. The question begs, is there a way to get rich even if your expenses are higher than what you are earning?
I don't think so. Some people might use credit cards or loans but it is just a cycle of taking a loan then paying it and you are not really moving forward are you? Saving also does nothing much but it can be a good start. You start saving money and at some point when the money is big enough you can start investing. Either in crypto, real estate or in a business. But just saving the money? Unless you want to keep working until the day you die then it will not be enough.
Saving is a good thing. But in reality, you cannot become rich by saving alone. If I save money for 20 years, I will only be able to accumulate a certain amount in the end. But if I invest a part with the savings, then the money will continue to grow. So, not only saving but also investing is a sustainable way. To become rich, I have to have a plan because even if I spend more than my income, there will be a waste of money. No one gets rich just by saving, and no one gets rich even if their expenses are more than their income. The right way is to find ways to increase their income, control their expenses and convert their savings into investments. No one can become rich in one day. It is a strategic and long-term process. How I will earn money, how much I will spend, how much I will save, where I will invest, how much risk I will take, all these have to be planned. Becoming rich is basically a step-by-step picture of success where my small daily decisions together will create big success. |
|
|
|
It has been so dramatic with how we define the duration for long time investment. Everyone have their own view of how they think their patient or investment plans can sustain them all the while.
Some foresee the least 4 years some foresees 8 years and above to be a long term plans but yet, some says either 4 to 8 years is not enough to be long term plans but 10 years and above.
I think this is a psychological matter where your emotions and your alternative source of income flows have to determine your goals and as well your time of holding before taking a sells decision.
So to you all, when is actually the timing limit for long term investment plans when invest on bitcoin?
By long-term investment, we mean when we hold an investment for a long period of time, i.e. 4-10 years or more, in the hope of getting more profit or income in the future. Bitcoin is basically a digital currency. We all know that it fluctuates greatly over time. And many of us hold it as a long-term asset, which is called HOLD. Long-term investors HOLD mainly to save for retirement, to get protection against inflation, or to get financial freedom in the future. Just as there are huge profits in long-term investment in Bitcoin, there is also high risk with it. So when we invest in Bitcoin for the long term, we must understand our risk tolerance and invest. It is also necessary to control our emotions and have cash flow ready. It is important to maintain our attitude in long-term investment because there are many who panic when they see price fluctuations and sell midway. Again, if we do not keep cash flow, in a sudden bad situation or when we need money, we may be forced to sell, which is often not profitable. Investing is not something you just hold with your eyes closed, it also requires awareness and planning. We generally understand long-term investment horizon as 5-10 years, but it can vary from person to person. Also, this horizon varies from person to person depending on their financial capacity, risk-taking ability and emotions. |
|
|
|
The question here is how do you relieve your excitement? Do you continue to play or do you stop there? The particular habit I observe in gamblers, professional or amateur, is that they are concerned about winning but do not feel the need to relieve their excitement. They are prepared to lose money and in the same way, they avoid limitations in order to earn money from gambling.
I feel excitement every time when I lose or keep winning. Do you also feel excitement when you win or when you lose?
Of course, it is a game where you feel excitement in both losing and winning. In this, uncertainty, the possibility of winning and the risk of losing all three work together. In fact, I think that experienced gamblers do not feel the need to relieve excitement because they can control their mental state. For them, gambling is like a mathematical game or strategy and they can adopt this strategy well. Also, they know when to stop, which not everyone can. On the other hand, those who are not experienced, most of them make decisions based on excitement. When they lose, they get angry and increase the bet again in a hurry. When they win, they gain confidence to take risks. If those who are involved in this game cannot control their excitement, it can easily turn into a major addiction or financial loss. And those who can observe and control the right decisions are the ones who advance in the game. |
|
|
|
When someone cannot control their emotions in gambling then they become very addicted to it. While gambling you should remember that it is only for your pleasure never consider it as a means of earning money. Gamble with what you can afford to lose, never gamble with what you cannot afford to lose. When you come back there again to restore your lost money then you become very addicted. So if you consider gambling as a means of earning money then you are a real gambler, you find a way to control yourself.
How can a real gambler get out of his addiction??
What is your reason for gambling? Do you want to make money by gambling or do you gamble just for fun?
Submit your comment.
Gambling is basically a mental and emotional behavior. Many people start it as a means of entertainment, but later it turns into an uncontrollable addiction. When someone keeps winning in gambling, it is very natural for a kind of addiction to develop in them because this game is basically about attraction. In this way, the attraction towards the game increases and turns into an addiction. When someone falls into an uncontrolled addiction, his emotions and decision-making ability decreases. Gambling addiction not only causes financial losses but also increases mental stress, family instability and social disintegration. There are some who return to the game again and again to get back the lost money, but by doing so, they basically move towards deeper losses. Therefore, everyone should be aware of their limits. Awareness, control and getting help if necessary are the only ways out of addiction. |
|
|
|
I am curious what is the one thing that you will never bet with? I am not talking about life because I think almost everyone will say that already but instead I am talking about other things. Like your house, your car or maybe some weird thing like your favorite shirt or the mug your father gave you. Those kinds of things. It would be interesting to see how people value different things within the metrics of gambling.
There are many things in our lives that have low market value but are priceless emotionally or mentally. As you said, an old mug given to me by my father. Home is the lifeblood of family life. I would never gamble on my home because it is not just a place to live but also security and stability. If such a thing is lost, it will not only be a loss in my life but it will be impossible to recover. Once such a thing is lost, it is difficult to get it back and this lack will affect the future. I think that all things that if lost will have a long-term negative impact on our lives and cannot be replaced with money, should never be gambled with and I myself would never do that. There are many things in our lives that have low market value but are valuable socially or emotionally and no sensible person would ever be willing to gamble on them. |
|
|
|
I made a post once titled "is Bitcoin just for the rich? " , I got a lot of reply and the majority said Bitcoin is also for the poor, thats not a really wrong answer, but how many poor folks have made the kind of wealth like the top investors with alot of resources.
I made some more research and I discovered more. I discovered that the rich have a high advantage when it comes to Bitcoin, we should know that Bitcoins high volatility and complex market dynamics often favor those with more resources, this rich folks got what it takes, they have the experience and Market knowledge to do as the wish without breaking a sweat or being scared because they have the funds and can afford to hold through market fluctuations. This guys can make big investments in market analysis, tools and expertise, tell me how will the poor catch up, how will the poor get to such height, how can they afford to overcome fear when there is little experience. It is very challenging for the poor investors to succeed in the Bitcoin market, potentially whitening the wealth gap.
Bitcoin is open to everyone, but it is true that the rich can benefit more from it because their financial situation, funds and experience are higher than the poor, so the rich have a greater advantage in the market than the poor. Poor people are more afraid of a little loss and want to change their decisions, so they become very weak mentally due to the complexity and instability in the market. In addition, when the market falls, they suffer financially, but the rich use it as an opportunity. However, the poor can also benefit with their small money. If they invest step by step in the DCA method. In this case, they can continue their investment for the long term and the risk is also low. So to benefit from Bitcoin, it is not the amount of money but patience and consistency. So starting small and regularly can bring a good opportunity to one. |
|
|
|
|
Betpanda.io ID: LQXQ3L
Your Prediction: $110,515
|
|
|
|
Although the rich has more advantage to be successful with Bitcoin investment than someone that is poor but this doesnt mean that they cannot also benefit from it...after all, not everyone that started out got into it with a huge amount of money...Bitcoin involves taking risks, everyone has their capabilities and limits, all you have to do is to stick to yours..don't invest a certain amount just because you want to do what someone else is doing..Take risks that you can handle
The rich are more likely to succeed in Bitcoin than the poor, which means they can hold on to more and buy more to complete the cycle. When the price of Bitcoin drops, the rich can buy aggressively and achieve their goals. The poor cannot enter with large amounts of money because their daily income is very low and they work day in and day out to meet the needs of their families. However, I think the poor can be more progressive in Bitcoin than the rich in the long run because they learn to be more patient from the pain of poverty and the intense desire to be rich can help them reach their target. To my knowledge if invested in the right amount, perhaps everyone regardless of gender has a certain chance of investment success but the rich may benefit even more because they have policies and incentives that are conducive to their investment and efficiency. On the other hand, we often see that ordinary people cannot properly cope with inflation as a result their purchasing power decreases. However it is very true that a common investment disparity between the rich and the common people is that they have different capital, So in that context, it can be said that if you have a lot of capital, you can suddenly purchase a large amount of Bitcoin. Theoretically, everyone has the same opportunity or potential for success in investing. But in reality, not everyone's financial situation is the same. If someone is rich or poor, their capital information flow and policy advantages differ. In this respect, the rich are ahead. The poor and ordinary people are mainly behind because of their. In addition, the vulnerability of the poor to inflation and their limited capital reduces their loss potential. The opportunity of Bitcoin is open to everyone, so I think that if there is the right knowledge and plan, anyone can achieve success regardless. Since the rich have more risk-taking ability, they can take advantage of the opportunity. But a poor person cannot do this in front of daily expenses because their income is limited. When prices rise and fall, big investors can take it as an opportunity, but small investors are only at risk of losing in this case. |
|
|
|
|
Thank you very much sir for giving me this great opportunity boss Hhampuz, signature and avatar have already been updated.
|
|
|
|
Not everyone can and will invest in Bitcoin. The reason is that many people do not like many things. For example, some invest in real estate, and some in gold. So not everyone has the same thoughts. There are also many people who are interested in investing in Bitcoin but they do not have enough money. Only those who like to take risks and are confident invest in Bitcoin.
At one time, people thought Bitcoin was a scam. But now it is the opposite, so many companies including ordinary people have started investing. However, some people are still afraid of the collapse. So even if they have enough money, they are not investing.
I agree with your comment. Not all of us have the same income and expenses. So we all have different investment types, investment amounts, and everyone's mentality is different. We must have a long-term mindset in Bitcoin investment. We must have the financial capacity to continue investing and all the ability to take risks. When we enter into investment, we have to monitor our financial situation to see how much I invest and if I invest, I will be able to properly fulfill my basic needs along with the investment. Financial monitoring is important in investment. In addition, we must also take into account the level of risk tolerance and the long-term mentality must be intact. I think the DCA method is the best way to invest. Because it allows you to continue investing small portions regularly, so the risk is controlled and the investment can be continued for the long term, and at the same time there is no mental stress. |
|
|
|
I have been gambling for years, maybe I have been addicted to it at some point even though I never noticed, however I'm a little in control of my gambling activities. Something still get me confused regarding gambling addiction that is a hot topic here and I want to get opinion of others on these areas: - How do you know you are addicted to gambling
- How easy it is to be addicted to gambling?
- Can an addicted gambler work himself out of that addiction without help from anyone, if yes, is it still addiction?
I think there are some signs to understand if you are addicted to gambling, such as: increased attention to money, frustration or initiative when you stop gambling, reluctance to do important things in life or loss of relationships, inability to quit gambling. If your money and time are out of control, that is a big sign of addiction. It is very easy to become addicted to gambling. When you win a few times in gambling, greed will work in you and you will gradually want to take more risks. There are also some who, even after losing, continue to play again and again just because of the addiction in the hope of profit. Since gambling is mentally stimulating and exciting, it easily creates addiction. However, the level of addiction is not the same in everyone. Getting out of gambling addiction takes some time. This requires strong will and awareness. In some cases, gambling has a deep impact on them mentally and physically, making it difficult for them to overcome this impact. So in that case, I think it is important to get help or try on your own. |
|
|
|
Bitcoin is not just a technology, it is also questioning the very structure of the economy. It will shape the global economy in the coming decades in a way that is unimaginable to us now. Bitcoin has created a completely new type of asset class, offering people an alternative to the stock market and real estate. In countries where inflation is still rampant, such as Venezuela or Argentina, Bitcoin has already established itself as an alternative currency for people.
Moreover, Bitcoin is not controlled by any state, government or central bank, so it is challenging the concentration of economic power. Every transaction is transparent and verifiable due to the Bitcoin blockchain. Transaction costs and transparency In every era of the history of the world economy, there are moments that change the way people use money. So that traders who do not trade online for fear of online fraud can be sure that they will not be a victim of fraud because the Bitcoin network makes it very difficult to reverse transactions. Where the banking system takes days for an international transaction, Bitcoin crosses borders in minutes. It is as scarce as gold, but more convenient because it is easily tradable and has the same value worldwide. Around 1.7 billion people around the world are still unbanked. Bitcoin gives them direct economic participation through the internet. Bitcoin can basically be compared to a kind of global ledger.
Many people in the world live without banks. Paper notes, the spread of the gold standard banking system—these were each an important chapter. And now Bitcoin is writing that new chapter. Many central banks are inspired to create their own CBDCs by seeing the current technology of Bitcoin—blockchain, cryptography, and the transparency of digital transactions. It is assumed that most central banks will launch their own CBDCs in the future. However, they will be inspired by Bitcoin's technology, but not as independent and decentralized as Bitcoin. Bitcoin can be effective against inflation in the long term, especially where fiat currency is weak or inflation is very high. Also, anyone with an internet connection can join the Bitcoin network. With Bitcoin, people can send money without banks or intermediaries. People can use money directly with each other. Both small and large investors can invest in it. It makes transactions faster and costs less.
By using Bitcoin, they can participate in digital economic activities. Bitcoin offers value preservation, fast transactions, financial inclusion, and new investment opportunities—all together, which makes the economy more innovative and strong.
Bitcoin is a technology that is revolutionizing the economy. It has brought a new opportunity to people who are outside the reach of traditional banking. Because here everyone is getting their financial freedom and empowerment that was not available before. From rich to poor, everyone is getting benefits here, there is no discrimination of religion, race, caste, or group. It is open to everyone. Bitcoin is becoming a big inspiration in the current world to build the foundation of the financial system of the future. As Bitcoin is a powerful asset, it has changed the way we view money. |
|
|
|
|
Show Posts
