|
Its almost funny, isn't it? These huge government agencies are trying to crack down on Bitcoin, which cant be stopped. Israel's new ban shows that they dont understand what the decentralised behemoth is all about. As China did, how many failed tries do we need to see before its clear that banning Bitcoin is, at best, a short-term reactionary move?
El Salvador, on the other hand, is a shining example of growth and what it means to welcome the future. Another country? Instead of attacking Bitcoin in vain, maybe its time to look at ourselves and change. For all you Bitcoin fans out there, especially those who live in places where it is being banned: make your security even stronger, keep your eye on the end goal, and remember that Bitcoin's promise goes far beyond these short-term changes in government.
|
|
|
|
~snip~
Then you are okey. If what you say is a clear representation of your state and your money management, then there is nothing you should change, if you like it as an entertainment source. Do you keep a set balance when you get money (in terms of percentage of your income) so you can gamble regularly? I am also curious if you keep track of your wina and losses through the year. Because I believe it is a malpractice which can only lead to loss chasing in the long term, and probably to addiction to gambling. Yes, because I have a family and children, my top priority is still family life. I will not have a fixed balance to gamble regularly. And I also don't keep track of my wins and losses during the year. I don't care if I make a profit or a loss. Because even if I lose, the amount has been predetermined, I can still accept that loss. I know I have bad behavior, but I still have reasonable control over my behavior. This is an example of good attitude for all gamblers to follow where they never care about winning or losing but also don't chase it because whatever they force themselves to get will also give less than optimal results. But from what you have applied there is one point that gamblers may rarely be able to do namely accepting defeat because here they lose certain amount of money and there is feeling of dissatisfaction with the results they did not win until in the end they try to continue to chase victory and after that all the money had ran out quickly. Here, I sure there are also many gamblers who are married therefore many users give each other suggestions and suggestions for all of us to remain more responsible gamblers. Even though it is very difficult to stop gambling at least we ourselves must be able to control it, don't let gambling control us. Because its easy to get to right away and is digital, players often give it "just one more try." What people really want is to be accepted, but this is something that is often missed. This need to be accepted and the desire to win are two dangerous things that can happen together. Its good that people in the community are actively encouraging safe gambling. If your money and relationships are on the line, especially if you're married and gamble, the stakes arent just numbers on a computer. Control is everything; who's in charge is always important. The rough waters of gaming can easily sink your ship if you're not in charge of it. Keep in mind that you shouldnt have to gamble. You should choose to do it. |
|
|
|
You make a valid point regarding people being reluctant to acknowledge their addiction. It's a major step and frequently veiled in dread and denial.
Things can begin to change, though gradually, when others close to the addicted person step up, show up, and engulf them in a cocoon of support. No, it's not a short procedure; it's sensitive, progressive, and slow. The addict may begin to understand the effects of their addiction. And you're right; that's where the magic happens. the gradual recognition, acceptance, and movement towards change. All of it is slow, but it is very necessary
It's possible that the initial modifications and shifts will not be noticeable. But these little adjustments can begin to grow into something more, something transforming, with constant love, support, and encouragement. Change is not only possible; it is probable with the proper people and the right support. It is a journey, a long and winding road
It's okay if it's too late because it can still be done if they can admit it and are willing to start changing it. After all, it's all for the good and changes in their life. After all, it's better late than never, especially to change bad habits and get a better life. When they recognize their gambling addiction, they can start to make small changes so they see what they can do. This change may take a long time, depending on the mental readiness of each addict, but it is worth doing to get a better life. Once they have made these small changes, they will begin larger changes and get used to their new activities. But it's only temporary and building a new habit takes time. So those who still have the drive and enthusiasm to change, will be able to continue well until they can finally cure their gambling addiction. Indeed, admitting a problem is the first critical step towards its resolution. It takes a lot of guts to see the signs of addiction, especially when it comes to something as dangerous as gambling. However, understanding isnt enough. It demands rigorous action. Yes, its important to start with small, real steps, but why do so many people fail and go back to their bad habits? Could it be that online gambling is designed to play mind games with people who are weak and keep them hooked? Starting with these small changes is like putting the base of a house on a stormy sea for addicts. Its not enough to just recognize and start, you have to be persistent. The whole building can fall down over time if the base isnt strong. Putting in these repeated, steady efforts is what leads to healing. Even though the path is long and dangerous, the hope of a better life is strong enough to keep them going. |
|
|
|
Money has ruined tons of friendships and relationships.The problem is to not overdo it and not to gamble in excess or that is a guaranteed thing to disrupt your relationship,family status and many other good things because excess gambling can only bring bad things,like not a good mental health,not a good mood or humor and all sort of related things that can make you escalate pretty quickly in any argument or relationship you maybe in.
That is why for me it is always better to gamble alone,even if your spouse knows it she should not interfere as interfering will bring back those things which they too escalate quickly and can disrupt for the worse the relationship.
Anything in excess is not good, especially if it is gambling. We have to know if we have gambled too much so that we can start reducing gambling activities and improve our relationships with other people who have begun to suffer. If we can be responsible in gambling, our relationships will not be disturbed and we will still enjoy gambling activities as usual. If we cannot be responsible, it will cause mental health problems, affecting our relationships with others. Yes, for some people, gambling alone may be better because they can enjoy their gambling activities well and live their relationships with other people as well as possible. And it depends on how we can protect ourselves when gambling and maintain relationships with others. Excess in anything, but especially gaming, can only have very bad results. One person's overindulgence can lead to a downward spiral that affects them and their relationships with others. It is a fundamental of human behavior that once someone crosses a line, it gets harder for them to go back. Trust in others decreases, relationships get worse, and the person gets caught in their own web. Nonetheless, your view on personal gambling is interesting. When someone can really set limits and keep their relationships intact, the behavior changes from a vice to a managed leisure activity. But, and its a significant but, the key lies in self-awareness and discipline. Can every person really look inside themselves and decide when they've compromised? What the question really is. |
|
|
|
You have valid point. but there is something i would like to share. Do you know any kid who don't like game? Nope. Games are the most favorite entertainment for kids. And as a parents, you do something in front of your kids, he/she will start practicing the same thing and so for games. Now come to the point. If you are playing normal game for fun then no problem. But if you are playing game like gambling with money, then you can't hand over to them if they wish. So it is better not play any game in front of them that you don't want them to play. Only show them those game, what are good and entertaining to them with no problem. It is really need to have a healthy environment while kids are growing up
Yes you are right that there is no child who doesn't like games and all children from all walks of life are definitely very happy with game especially new game that they have never tried. But that not the concept because this is gambling game and it is not recommended to tell or show gambling games to children. Indeed if it is just game for fun it can be considered normal but in gambling I think we also aim to have fun so don't think that showing games to children even if it is just game for fun can be treated freely. Moreover child has an attitude that tends to be curious about all kinds of new things especially games and when a child starts playing whether it just game on cellphone it will give them a habitual effect so that they might potentially look for new games next time. Rather than showing game it is better to provide education and also teach real game that can hone a child skills and brain performance. Sure thing. Unquestionably, kids are naturally interested and drawn to games. However, it is completely careless to introduce them to any kind of gaming, even if it is done in the name of fun. The exposure has a chain reaction that cant be ignored; its not just about whats happening now, but also what will happen in the future. A game that doesnt seem dangerous today could lead to a bad habit tomorrow. Its not just gaming either; its about how the brain changes when you're young, the dopamine hits, and the need for more. Whenever we talk about games and kids, the goal should always be to teach and grow. Why subject them to possible dangers when there are so many fun things they can do that will also help them learn? Not between fun and learning, but about having fun in a way that adds value. We need to show them the right way, which means making decisions that will be best for them in the long run. |
|
|
|
|
I devote about ten percent of the money I make from signature to gambling. In the end, its a fine line between rewarding and risking. I like Bitcoin best when we talk about displaying money. Bitcoin has changed the way many people, including gamblers, think about and use money.
Now, the game? Definitely slots. For sure, they are both the best and the worst. Feelings of thrill, tension, and not knowing what will happen next make it feel like a never-ending roller coaster. For the tool, Stake.com is clearly the best. Why? This includes the ecosystem, the customer experience, and the products and services available. Although, lets not forget how important it is to gamble responsibly. No doubt about it, Im a responsible gambler. Fun can become an addiction very quickly. You must know where you stand, it is absolutely necessary.
|
|
|
|
Placing high trust in the game can make you mentally disturbed when you fail to win a bet, as long as the game is not finished, anything can still happen. He should have learned from several football plays that things can change at the last minute, nothing is certain as long as the match has not officially ended.
An incident that happened to your friend because he was too obsessed with winning the game, even though in the game there are only possibilities, losing and winning. I prefer to put the outcome of the game as luck, they must be ready to accept whatever the outcome of the game is, if you are not ready to lose, never try to place a bet on any game.
Human behavior, especially in high-stress environments like competitive sports, is incredibly volatile. No algorithm, no amount of data, can truly predict how a game will turn out until the very last second. Why? Because human emotions and reactions cant be quantified or anticipated to a 100% degree, especially in sports or games. Remember, remember, remember: placing blind trust in a game is setting oneself up for disappointment and mental disturbances. Additionally, your friend's obsession with the game underscores the fragile line between passion and obsession. Its a problem many gamblers face: mistaking obsession for passion. Online gambling, especially, manipulates human behavior to favor addiction. Theres a reason they call it "betting" and not "winning." If you're not emotionally and mentally prepared for the bitter taste of defeat, then stepping into the world of gambling is a grave mistake. Always, always, always be prepared for both outcomes: winning and losing. |
|
|
|
It is true, everyone is entitled to living his life as he want as long as it doesn't cause discomfort to the next person around or family but for some people they have knowledge of this right of theirs but for sake of family they willingly put aside that right to live their gambling life a secret from the family. Not that they get afraid of family reaction about it but they don't want any thing that will shake the boat because of them.
And that has been done by many people, who tend to do what they like without caring about what others say. And that's why some people still hide their gambling activities because they don't want anyone to say many things about them, so they just want to hide it. And they are also very clever at hiding their gambling activities so that no one knows about it, and they are free to gamble. But this requires better self-control because they can develop a gambling addiction that will make them lose all their money. People that can thrivingly hide their gambling activity from family and it's never noticed all through the time of hiding, for this set of people it's very unlikely that they fall into addiction capitalizing on the premise that for anyone to be able to hide their gambling activity they should be responsible gamblers and a responsible gambler must be someone of self-control and that's why the can't develop gambling addiction. It's not easy hiding something like gambling from close persons like family and if you're clever enough to hide it such cleverness should also extend to how you spend money on your gambling. Hinding bad habit like gambling and linking it to being responsible is a slippery slope. People who are good at hiding what they're doing from close family members dont necessarily have self-control in all parts of their life. We should not confuse hiding with being responsible. Usually, people who hide are aware of the possible outcomes or judgments they may face. Further exploring the human behavior, we find countless instances where individuals, proficient in one domain, falter in another. When it comes to problems and issues, gambling is especially complex. The internet can be even more tempting and addicting. When people think that being good at hiding means they have control over their gaming costs, they are missing the real problem, which is the nature and effects of addiction. |
|
|
|
~snip~
When something like this occurs, it hurts a lot: you selected a game and don't have the money to play it. Later it match to the game you predicted and it enters immediately. Nothing, in my opinion, hurts more than the possibility of winning a bet when you haven't win over year and you still don't have the funds to play it right now. In that type of game, you'll want to borrow money and play the game so that you can't lose, but you'll also be concerned about how you'll pay it back if you borrow the money, gamble, and lose. Because of this, I am able to say that it is really bad for us to depend on gambling. If we have other things to do when we feel like gambling, we will undoubtedly have money in using on game prediction. Therefore, we should have something to be doing.
In this instance, if you keep going, you will undoubtedly win but you shouldn't rely on it because doing so would only make things worse for us. Gambling is likewise a privilege reserved for the wealthy, not for those with insufficient means.
Well, yes, you will win eventually a single instance, but the overall amount of money that you paid to get that win will be more than the prize you get. That's basically how the probabilities are setup in the game. In the end you will pay more than what you receive. That's pretty much it. Borrowing money to gamble sounds like a fast way to get into trouble, just read any of the stories of the exchanges CEOs that did just that. Unless you are good in controlling yourself and you can manage to calculate both wins and losses, maybe you can get out with some winnings, but if greed dominates you inside, the chance of winning will be far from possibilities as you will keep pushing your way and keep trying to win more. Something that really lead gambler to lose more when they playing, I think the last part of your statement is also true, borrowing is a fast way to get you in trouble as if you won't be able to repay your debt since it's only gambling that circling inside your minds and nothing else. Self-control and financial literacy are important. The very nature of gaming depends on the way our brains naturally make us act. If you win once, the dopamine rush can make you want to keep going after that high, even if it means losing more and more. When greed comes into play, it's like adding oil to a fire that's already going. Greed takes precedence over reason, turning planned risks into careless goals. Debt is a bad thing, especially when it's caused by a strong urge to bet. The mind becomes completely focused on gaming, blocking out any sensible thoughts about paying back debts or the results of one's actions. The need to win grows along with the debt, making a never-ending cycle. The very act of getting money for such risky projects shows a serious lack of judgment. One should never gamble to the degree where it endangers their financial stability. |
|
|
|
This means that it requires attention from these people so that they immediately make the right decision in choosing the shop. And for the shop agent who ran away, maybe the shop needs to contact the authorities so that the shop agent can be chased. After all, the shop agent had caused harm to the shop so he needed to be arrested.
Yes, it is true that this can be done to chase the shop agent because it may be very easy to chase him compared to chasing an online casino that has gone bankrupt and is a fraud, therefore the most effective way is to report him so that he doesn't commit any fraud, but another problem is if you report the agent illegal gambling while you are in a country that prohibits gambling will be a problem and you will also be investigated as a gambler. But if the gambling agent is in a country where gambling is legal, of course it is very easy to catch him and complain to the authorities, let alone take him to legal action, but it will be very different to report and chase the gambling agent if the country considers gambling to be an illegal game, that will be a problem. Another big thing you can do is just let it go and then use the experience of not playing at a gambling agent anymore and switching to online gambling.  If a shady gambling agent has hurt you, you'll want to get even again. However, it is uncommon to want to report a shady agent in a place where you could be charged with gambling. You want to shout from the roofs but are afraid you'll fall. If the agent is in a place where gambling is allowed, its almost a given that they should be brought to the attention of the law. Still, the unclear rules in places where gaming is not allowed make things difficult. You could also just leave, learn from the experience, and focus your efforts on online sites, which has its benefits. For better or worse, its a shift. Giving yourself back the power is like saying, "I've learned, and Im adapting." Still, always, always make sure that websites you use are trustworthy. We dont want history repeating, do we? |
|
|
|
For much long now I have never place bet with a higher amount but there was a bet i placed few days ago and i was tempted to increase my wager from what it should be before, Let say i often gamble with at least 200 Naira and maximum is 2,000 for a multiple bets But recently something came into me to start increasing my wager above my limits due to a game that was predicts to me it gives me all possibilities that I could cash out big time. This now made me to come here to asked how do you control your greed with your bet amount, do you go ahead placing the bet as your minds speaks or do only maintain to your limits whether it plays or not doesn't matter.
Again why do you regret after putting smaller amounts and it happens the games went as planned and starts blaming yourself for not increasing your bet amount, maybe by now you could have cashed out big time. How do you control this thought over your ends do you keep to your regulations of always placing bets with some limits or you place bet according to your mind and regrets after losing that amount for not following your limits?
Lets discuss wisely and if something related to this post please point it out.. Maybe would devote time to study what has been written over there.
Once greed enters our minds, it is difficult to control it, especially if it is right there in the place where that greed was formed. Although there is a proper process, and that starts with ourselves, of course, Isn't it usually true in gambling that the root of greed is the desire to have a lot of money? But this is not what an individual gambler should do in reality; instead, the only thing to do as a gambler is to play and enjoy; let the luck come to you spontaneously when you gamble; this way, for sure, even how can you fight greediness from another angle? Greed can be very strong, especially in places that feed and encourage it, like gaming. Not surprisingly, the world of internet gambling is set up to take advantage of this feeling. That being said, isnt it interesting how it does that? Looking at the main reason people gamble, we hit the nail on the head. The alluring possibility of making a lot of money. Nevertheless, this is where the problem lies. Instead of the draw of money, shouldnt the fun of the game be what makes people gamble? As players, shouldnt we be looking for fun in how unpredictable and random the game is, letting luck take its course? can we really disconnect from the temptation of money? There are many layers to this mystery that go deep into our deepest beliefs and the way we live in society. |
|
|
|
`
Yes, that's gambling no matter how you hide it, no matter how tight you hide it by not telling anyone at all, one day it will definitely be found out too, just like you hide a carcass over time, it will smell too. Therefore, instead of continuing to hide it, it is better for you to try to stop, I understand that it is quite difficult, but nothing is impossible if you keep trying even if slowly. Of course, every parent has a different perspective and response every time they see or face a problem, I see that your parents are quite different, which as you said you thought they would scold you for being caught gambling but apparently the assumption was wrong. But to be honest here I see your parents are quite understanding, they don't scold you because maybe they know you are a big boy and should be able to think to distinguish what is good and what is bad, I am quite impressed with the advice conveyed by your parents. Instead of scolding you they responded with a suggestion that you can consider, that's right, it doesn't matter if you want to gamble but we have to be responsible gamblers by accepting all the risks involved and also of course with strong self-control so that you don't go too far into gambling. You speak the truth. Every behavior, especially gambling-related ones, affects our psyche and those around us. With its appeal and digital immersion, online gambling is adept at hiding its addiction. It's fascinating and scary how humans are predisposed to do so even when the repercussions are obvious. Your parental reply observation is insightful. It shows their comprehension of human behavior and gambling addiction. Not everyone reacts to aggression. Gentle nudges and understanding are often needed, especially if the person is grown and can tell right from wrong. Responsibility and self-control are key in online gaming. Solution layers are needed for this problem. More people seeing things as clearly as you do might help break addiction's shackles. |
|
|
|
I have always thought about something, first of all the analysis that I always do with trading and sports betting, because they are basically aimed at doing a better job in terms of knowledge, in both things, those who know are rewarded very well, to the one who knows, and to the one who knows how to investigate and gets into the subject well, m´, more when it is known that this depends on our money, money is the only thing that I see in this, I in particular know that every time a person gets involved In a casino and you do some sports betting, is it because you believe or because you are sure? No, it is because he believes, but it is very different from believing or being sure, this without taking into consideration the luck factor, which also happens in sports, extraordinary things happen, it is worth saying that in every sport it happens, In football, boxing, UFC, basketball, baseball, every sport has its factors or touches of luck, which I think is correct for players who are always waiting to make a good bet.
For me, a trader who always studies the market, who is guided by model theories, and also does his fundamental and technical analysis, because it reduces the way he can lose, on the contrary, knowledge is rewarded with money, because he wins, and those It is our duty to ensure that a person wins because they have to do so, so in this order of ideas we could do many things, first that we move in a direction that is directed only at good research, news, articles, being attentive of the details of the players and the sport that is going to be analyzed, define the area because being an expert in a particular sport includes a lot of study, it is not something that seems so easy, but it is not difficult either, it must also be considered that if it has been A sports fan will become more comfortable and will be able to enjoy all areas of the sport and in all its phases, for this reason I believe that good results can be achieved.
If people want to place bets on sports betting, they need to analyze and gather more information to get data about which ones they can choose that have a greater chance of winning. It is luck if we can choose the right one with a chance of winning, but first, we have to do an in-depth analysis to find the team or player with the chance to win. Without all of this, we will not find out which team or player has the potential to win and we tend to choose randomly based on feeling. It all depends on our analytical skills because the better our analytical skills, the more we can determine which team or player has a chance of winning. And it will be different if you make a trade because he has to find more information to find the coin. In this trading, people need to pay attention to many more things, which is clearly different from the analysis they do in sports betting. Becoming an expert requires more effort and continuous learning in analyzing because the market will change, not only in the market but also in sports betting. If someone can reach the expert phase, it will take a little while for him to find a team or player that has a chance of winning and he can immediately place his bet. Lets be clear, understanding human behavior is the linchpin to success in sports betting and trading. To put it simply, saying that all you need is luck is not a good idea. Any trade or bet that does well needs careful analysis, in-depth study, and mastery of data. Anyone who doesnt agree is, to be honest, going against the flow. So, gut and feeling are useful sometimes, but relying on them alone is like shooting in the dark. You are setting yourself up to fail if you dont work on your critical skills. Now lets trade. When it comes to research, there is a difference between trading and betting on sports, but the basic idea is the same: information is gold. No matter what field they are in (betting or trading) those who are good at it devour information, break down data, and understand how their field is always changing. It might seem like the end when you hit the "expert phase," but dont worry - you'll still be learning. Even pros need to keep their ears to the ground and change, adapt, and re-adjust as needed. If not, they'll just be another face in the crowd. |
|
|
|
|
Understanding human behavior in online gambling is crucial. Winning intoxicates many into unreasonable behavior. Although rare, withdrawing a little portion and saving the balance for future games shows a regulated mindset. Instead, most choose bigger wins.
This greed-fueled cycle kills many gamblers. They get stuck chasing ever-increasing profits, resulting in massive losses. This behavior shows the fallibility of human judgment in temptation. As you suggested, they may need a wake-up call. History repeats itself, usually disappointing.
|
|
|
|
|
Money evolves as civilization advances and innovates. Moving from barter to real currency had its challenges, didnt it? Physical cash was flawed by theft, deterioration, and bulk shipping weight. Even with paper money, inflation and centralized control are obvious. Thats the issue
As you noted, Bitcoin changes the paradigm. We no longer depend on banking or centralized authority. We control, right? Blockchain, the technology behind Bitcoin, is mysterious to most people. Although Bitcoin is innovative, most people dont comprehend it. In addition to adapting to Bitcoin, you must understand its underlying ideas and worth beyond financial rewards. If we think its the future, we need substantial education and promotion.
|
|
|
|
There are several reasons why government would want to ban bitcoin or already banned bitcoin and these reasons differ from country to country and maybe I will have to speak for my country and one of the major reasons why the government has decided not to identify with bitcoin is because of the risk of its citizens getting scammed by those online hoodlums who always get people scammed through bitcoin and this singular act of scam has already painted so much wrong image of bitcoin already and the government has already warned all banks and the cbn from getting involved in any cryptocurrency transaction.
And another reason is the fact that bitcoin is decentralized and if accepted, will be very difficult for the government to country or have dominance or its citizens hence they’re doing really hard to fight and I think they already have wrong advisers around them .
Your concern about governments banning bitcoin to protect citizens from scams is real. The criminal element has tarnished bitcoin's image in the eyes of many governments and their citizenry. Please be honest. Scammers will take any opportunity to profit, but should they obstruct technical advancement? I doubt it. Bitcoin's decentralization does strip governments of some authority, but isnt that its essence? Bitcoin was created to empower individuals without intermediaries. Some governments may see this as a threat to their power. One needs to wonder if governments are actually serving their citizens' best interests or merely resistive to change and afraid of losing control. |
|
|
|
More and more people as well as financial institutions can see and feel that Bitcoin is really brewing something especially in 2024 so as early as possible they already got their wallets filled with Bitcoin. Compared to other assets available, Bitcoin remains to be one of the most attractive in terms of ROI and I am not wondering why even some big banks are also into Bitcoin and even accepting clients for them to also hold BTC in their portfolio. Are we going to experience a real and lucrative bull run next year? Well, am hoping so...that is why today is the best time to accumulate.
More than an investment, cryptocurrencies are an ongoing technology and socioeconomic experiment. As a result, the blockchain space is booming with new opportunities. With an approximate market cap of $280billion, rest assured that this industry is here to stay. This new industry is constantly evolving, therefore the earlier you get acquainted with it, the higher your chance are if benefitting from its future development. Bitcoin’s future is assured; it’s well beyond the point of no return now… it will become the world’s reserved currency simply out of the fact that it’s always a safe place to put your money when your government (inevitably) acts poor. In Cyprus they already demonstrated this when their government stole money out of everyone’s bank account. In Argentina they are currently demonstrating this as their government is drastically inflating their currency. All of the major world governments are extremely in debt right now, all borrowing Hugh amount to pay the interest of previous debts…. We are teetering on the edge of a collapse that cannot be stopped without bitcoin. When major currencies like the yen, U.S dollars and Euro collapse, bitcoin will be there for you to put your wealth into, and there’s is nothing governments can do to stop that. How could it go away then ? Yes, the way society and the economy work now is changing, and cryptocurrencies are at the center of this huge shift (also AI). You are smart to see the blockchain as more than just a short-term but as a fundamental change in the way technology works. Around the world, governments are playing with fire because they have a lot of debt and their budgets aren't stable. Who gets hurt? People like those in Cyprus and Argentina. Its a theme that keeps coming up, right? When these well-known economic giants fall, Bitcoin stands tall and shines One could, however, say that Bitcoin's inevitable rise to become a world reserve currency is both good and bad. Yes, Bitcoin is a safe haven from bad government management, but it also comes with its own problems because it is autonomous. Concerns about security, scalability, and acceptance are still there. Also, while the yen, the US dollar, and the Euro are all weak spots, calling for a crash might be too much. The question isnt just how long Bitcoin will last, but also how it fits into a world that has problems with money and strong conservative feelings. |
|
|
|
I got into Bitcoin as a college student though I am not involved in earning yet but I have a lot of interest in Bitcoin and I am planning to hold Bitcoin. My father is a Malaysian expatriate. He receives a salary of $500 per month and sends $400 per month to support my family. I collect all the money from my father's salary and spend it for family support. Recently I have made a plan to invest a certain part of my father's salary remittance in Bitcoin but in this case I don't understand whether it should be invested in Bitcoin. I paid attention to invest in bitcoin seeing the popularity and future importance of bitcoin but my father and mother from my family have no knowledge of bitcoin so they keep persuading me to invest in bitcoin.
My parents thought that bitcoins that cannot be seen or touched cannot be an asset. They think that investing in physical assets such as gold, bank deposits, land etc. is more profitable than Bitcoin. But even after I convinced them, they are not ready to invest in Bitcoin. They don't want to believe in virtual currency.
Right now I want your important advice on how to convince them.
We often encounter problems like this in our daily lives. Not even once or twice have I heard about people who think depositing in a bank is much better than investing in bitcoin. I think the first approach you have to take is to provide them with insight into centralized systems and non-centralized systems. And tell them about fiat which is prone to being affected by inflation if held for a long time. Even the interest earned from bank deposits will not be commensurate with the decline in the value of the currency itself. But if they talk about gold then I can't comment anything. Because saving in gold is the safest and is not too affected by inflation. But I consider gold to be just a store of value and not an investment vehicle. Because the value of gold tends to be the same from time to time. What makes it seem more expensive is because the currency we hold has actually decreased in value. Misconception number one: standard banking is always better needs to be debunked very strongly. Prior to that, let us examine the difference between centralized and decentralized systems. Problems always exist with centralized banking systems, right? Foreign factors, inflation, political agendas, and even global disasters can affect them. In contrast, Bitcoin works in a decentralized way, meaning that there is no single authority controlling it. This makes it less vulnerable to inflation. Although, your point about gold is not the same. Gold is a good way to keep your money safe throughout history. Regarding gold, I believe that only seeing it as a way to keep value somewhat underrates its potential. Yes, its value stays the same, but isnt that what makes it strong - that consistency? Gold's stability isnt the real problem; its the falling value of the currencies we use to measure it. No one should be surprised by the limits of fiat currency and the possibilities of alternatives like Bitcoin. |
|
|
|
~
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
That's what volatility can change someone's thinking on Bitcoin. They think like "Ohhh Bitcoin's volatile therefore, I can get more profits in a shorter amount of time because price can increase immediately, and anytime." While this is true and it really happens (like what happened a few days ago when a fake news about Blackrock's Spot ETF getting accepted already), if you really want to maximize your profits, waiting for a longer time, or selling during the bull run is the way to go. Don't expect that if you invest today, a few weeks from now you will double your money. Is it possible though? Yes, but not on Bitcoin, and what are the chances for it to happen? Low to very low. To all investors out there, unless you're a trader then give your investment some time to grow. Bitcoin isn't like a quick rich project like other companies out there are offering (obviously a scam). For those who are sharing knowledge with regards to Bitcoin to other people, I guess telling from the get-go that it isn't a quick rich scheme would be a good idea to lower their expectations. Capital appreciation takes time whether it would be stocks, bonds, or even in crypto. People often fall for the volatility trap, expecting Bitcoin or other cryptocurrencies to become them instant billionaires. Your point? Right on. Many miss the long game, where the true treasures are, in pursuit of immediate profits. A price increase today doesnt guarantee sustainable growth. Pull of instant gratification? Reasonable but imperfect. Blackrock's recent news? A clear example of how unconfirmed information can influence market sentiment. I agree wholeheartedly about setting expectations. Crypto can yield high profits, but its not a lottery ticket. That must be emphasized. Investing in bitcoin, equities, or bonds takes patience. Anyone promoting easy cash? Red flags should appear immediately. We must emphasize investing's reality and drown out quick-rich claims. |
|
|
|
|
Your approach to Bitcoin storage is intriguing and, no doubt, crypto is a place where innovation and caution should go hand-in-hand. But let me challenge you on the "decoy" wallet idea for a second. Does creating a "decoy" truly offer a veneer of protection, or is it just a psychological safety blanket? Hackers today are becoming more sophisticated, and such tactics might only deter amateurs.
Moving on, the multi-signature wallet strategy is, on paper, a fortress of security. Yet, consider the implications: the more signatures, the more complex the validation process becomes. Does this not inadvertently make you more susceptible to bureaucratic hiccups, thereby affecting transactional fluidity? I respect your proactive approach and unconventional thinking, though. Pushing the boundaries of traditional thought is exactly what the crypto world needs.
|
|
|
|
|
Show Posts
