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You mean investing in Bitcoin is better than gambling? I wouldn't say yes and no but I would say we prefer investing in Bitcoin than gambling because it is an investment not luck-based stuff. Also gambling means that you can't lose all of your money if you are just playing for fun.
I can't compare well Bitcoin and gambling but if we take the source of income of both then investing in Bitcoin is better than gambling because gambling was not made to earn money and Bitcoin is now used as an investment that can help us.
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This topic goes deep. Basic desires can't be escaped, food/shelter/clothes. Certain desires which improve your quality of life should be given priority.
A thing to understand is don't go blind after desires. Taking out savings, taking loans to fullfill unnecessary desires is stupidity. A finance saying goes, fullfill your desires from the wealth generated from your investments, thus you preserve capital as well and fullfill your desires too.
Most people would let their desires win due to comparison to the other people, cause if they are contented of what they had, for sure they could save money with taking loans and withdraw savings just to buy unnecessary things that can't help for your own convenience. Focusing in investment rather than comparing would build up the mindset of "in the future or sooner I would also afford that" which is actually good cause for that term you could be financially stable to buy things you want. The generation right now prefers those flashy things that they can flex off on social media and they are wanting to build an image on social media rather than building themselves financially which is the lifestyle they want. There are times that we want those kinds of things but we are more disciplined and we do have a mindset about investment like having a new phone say the new version of the iPhone others prefer to buy it when they have money but for myself I do prefer an old phone and the extra is for investment because we want assets rather than liabilities and if we gain profit from our assets then that is the time we will buy tons of them. |
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~The truth is that nowadays there are no more morals and ethics. films came to destroy society, people love films in which the main character robs a bank and is not punished, robs a casino and is not punishedNot all the people, right? I hate such movies, you hate them, and I don't think we're all alone. But we are grown-ups, we can handle it. What I hate is that they are showing such movies to kids, and millions of innocent souls that don't know how to resist are watching Aladdin, where the protagonist is a thief wanting to marry a princess. What do you expect from kids raised by such garbage? I couldn't relate to this before but right now I do understand why my mother keeps telling me not to watch those kinds of movies as you can't get anything and all you learn is bad things. I am also not a fan of movies but I do prefer documentaries or anything from which we can learn a lesson. You are right that people will watch a movie based on its fame and how trending it is but all you can get is wasting your time watching it. All of us are already big and can decide and we already know what we are doing so if ever we have kids then that is the time that we should let them watch only those movies that are satisfactory to them and when they can learn. |
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I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
Actually it happens across the globe we have that too, we're having a global recession and inflation due to the past events happen in our world. What we are feeling right now is we are starting to have the after effects of that event government can slow down the price increase or somehow it can stabilize the price but not so much so we should know that having a job now is not so sufficient we need other streams. Only the government can prevent that high price or maybe slow it down. It is not just the inflation but because there are people who are hoarding some goods just to increase the price and that is when they sell them off and the government can't notice it. Consumers are really the ones affected by it and we have nothing to do with it. That is why it is best to rely on ourselves. Finding another source of income right now is difficult due to the fact that tons of people are also looking but this is only the solution except for the government to make a move to ease the price of all goods. We need to work on ourselves because if we don't and are still waiting for the government we will starve and not be able to meet our needs. |
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On this board I often see a lot of discussions related to investment and finance which tend to be large scale. However, to start investing we need capital. How do you find capital for investment?
Let's talk about small scale businesses that have low risks and promising profits so that we can have capital to invest and become passive income in the future.
Do you have a small business idea? or business experience? I want to hear it
This is very interesting and for people who don't have money to invest, they should try to do business with small capital to be able to get profits, even though they are small, but consistent and try to manage their investments wisely. I have done this with a business selling street food, it is a business that only requires small capital and has quite a decent profit and of course the percentage of material losses is quite small because the raw materials are still used at a later date. Your main capital in this is your effort because for sure youll be standing all night and non-stop cooking. This is a really great idea because you can start small and just be consistent and have good food so that your customers will come back to you occasionally. This is also feasible for those in crowded areas like near schools or in areas that sell less of this kind of food. Small businesses will be big in the long run if they are successful. We just need to have consistency in building them and through hardships for sure your business will go big and that will also change your life. |
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Don't fall for phishing or fake websites either because you'll end up giving your credentials to them. Always be cautious whenever you use the website by double-checking if you are in the correct domain or not because before there were a couple of gamblers who got victimized by this and the hacker was able to get their funds from their gambling accounts.
Always remember that gambling is just for you to kill your time and have a good time. Also also this would be a way to bond with your friends, don't make it a money-making machine as it will lead to addiction as you'll bet on having a target winnings on a daily basis.
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The way you explain both is a form of source of income, trading would be feasible to be our source of income but gambling is not so comparing both is not good as you treat gambling as money-making which is only a form of entertainment. Gambling is just for fun to lose your money and trading is a kind of investment where you put your skills and knowledge into it to win trades and earn profit. That is why you should focus on trading and not think about gambling if you want to earn money because if you focus more on trading you will learn a lot about financial aspects.
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Renewable energy is really good for us and also the environment but the problem with that is the cost of having it. Most of the countries you have mentioned are rich countries so they are able to create structures for having renewable energy because they have that money but for those countries where I belong it is not possible unless the government really pushes this. Even in our country only private individuals have a solar farm and hydro is combined by non-government organizations and with the government as our government is more focused on building our economy and still not thinking of it.
As the population gets higher we will definitely switch to renewable energy as our energy right now is getting lower and lower but in the case of my country they are still not focusing on this but maybe in the future it will be feasible.
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This has been heavily debated for a long time about whether gambling is bad or good but most of us will say that everything is bad if you go over it meaning if you just play less than an hour a day and are able to control yourself that it ain't giving you problems as well as your family then I would say it brought good to that gambler as it was just a form of entertainment for him but if it was the opposite lots of financial debts due to gambling as well as no time for family because of gambling then that is a bad one.
Even those who have not experienced gambling will say it is a bad one because of their religion and beliefs which we should also consider but we do have different opinions and I would say as a gambler that if you gamble responsibly then it is not bad.
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I don't know why many people frown at KYC verification but I think sometimes, it may be as a result of previous experience that is making people to be more conscious about dropping there data on exchange except the exchange has user data protection which will enable individual data to be well kept in a portfolio where no one has access to it even though the exchange get hacked.
That's because kyc encourages identity theft in many ways. You're exposed to a third-party attack should such an exchange or company get hacked as your data/details can be stolen in that event and be used for impersonation and other criminal activities to your person. Etc. You'll need to go through this thread to get the whole idea of why many people frown at KYC. Why KYC is extremely dangerous – and useless . But protecting personal data today I think is no longer effective when we are also using social networks, online payment applications...most of which require KYC to be able to use. Obviously it's difficult nowadays to effective or completely avoid kyc with what you have said I agree on that but at least in the areas you can avoid based on available alternative options that gives same pleasure or satisfaction it is important you do avoid it with your full chest. helping in reducing a common spread of your data in so many kyc required platforms increasing your risk of exposure. Stick to one reliable platform as it is almost impossible now not to do KYC. You are right just don't do KYC on multiple platforms as the risk of getting your information leaked is huge but still if we are talking about the fact that we have already given our information to one platform it is still possible for data to leak. We are really forced to do KYC to completely use all the features of a platform. To be cautious we should always do this on the most established platform we are using and make sure it is not a fake website. |
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I agree with you. Although it is very ideal that we can all be lucky and suddenly be millionaires it is just so impossible and very unrealistic. Hence, instead of just daydreaming about such unrealistic things happening it is better to act and do something that will help us get at least the goal we've been aiming for. There are just people who are more fortunate than others even in terms of luck, like winning the lottery, hence it is very unreliable and stupid to just rely on that. If we really want to be successful and have at least a good guarantee that it will happen we need to do something about it ourselves like working and investing, as well as improving ourselves every chance we get.
Daydreaming and dreaming without trying to make it happen through effort is very futile because in the end there will be nothing. In terms of achieving success, there is no exception for everyone who must continue to make their own efforts to make their dreams come true in their life, because success does not come automatically to everyone, even though everyone can hope for luck in their life. But it is always uncertain when it will come so everyone is always willing to try if they want to be more successful than others and I think this is no exception. Dreaming it will always be part of obtaining it because we do imagine having it but if you aren't doing anything that is 100% that you won't be having it because while dreaming you should also be working on it. This is like you always wanting to own a whole bitcoin but you don't buy a small amount of it. Luck will not strike you if you aren't doing anything like winning the lottery if you haven't bet you wont win. Anything will come to you once you work for it. |
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2. Network: This is not the networking that others think of here. This is not inviting acquaintances or friends to scam you. What I'm saying is "building a network." When you build a connection, for example, by simply helping your neighbor, it can give you or us a network because we meet different people every day. Who knows, one day or not, we know that our neighbor will help us one day so that you can have a good opportunity or job or have a good client. Even on the internet, connecting with like-minded people like us can go a long way toward your advancement.
This is really one of the keys to the success of the business and investment. I always heard this coming from those successful people that they have a network in this niche and I just thought that it was simple but when I am already working for a private company when there are things needed because of their network they can easily purchase the stuff needed even with discounts or even out of stock which means it is very helpful and also in marketing mostly if you have a target network for your specific product that network of people can help you. |
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I believe that we can develop our hobby in parallel with our main job and quit work only when we have managed to develop our hobby well enough. Bitcoin is a good investment, but it will be meaningless if we do not have the funds to buy Bitcoin.
The same thing to running a business without enough capital to sustain. Because investment doesn't give us instant return we can fully rely on it, maybe months after. That is how important to have a least another source of income to back it up while waiting for our business or investment to grow. We can just quit working on other people if we are really ready and when our investment/business can already support our living. In order to have a good living, we also have to make multiple sources of income which is somewhat hard for poor people and I feel how hard it was. It is true that no business investment is possible without sufficient capital. Investing in crypto is good but we have to wait for a long time in investing, if there is no source of income then no one can live a normal life. Income is one of the most important aspect of our life money is needed to carry on other activities to meet basic needs overall development. If you have enough money to keep investing in a currency like bitcoin and have a source of income it will be easy to back up as the price of bitcoin increases and you will get good profits. Ive seen in a lot of documentaries that they are living in the forest so that they can escape the city but still they are needing to sell some products so that they can buy food like rice for their daily needs. In today's generation income is crucial to living no matter how big or small. Without a source of income it is close to impossible to live or if we can we will struggle on a daily basis. If you are planning an investment and are still short on money to invest in it is better to not push it through because it is not enoug so probably it will fail. As long as you've already accumulated enough money that you can afford to lose and is also enough for an investment that is the time that you'll need to push through as long as you've already gained knowledge on what you are investing in. |
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Youll start by saving or taking a loan for capital, but it is preferable that you save and while saving youll be conducting your own feasibility study to check if your business will be good in that area. Planning is crucial to making sure that your business will be successful.
Food business is really what I have been planning because I have noticed that in my area there are only a few food establishments and I would say that food is not good so having a good quality small restaurant is better both to sell food and to have dine-in customers. It is just a simple restaurant so my capital is small and later on if it is good I will just renovate it to be bigger.
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What you did in actual trading is somewhat the same as what you have set up for trading bots. The only advantage of having this is that you have never stressed yourself as you let the bots do the things as it was on the command. Now, the question if that will work efficiently - well, that is something to ask ourselves if we are really good at trading or just like a newbie. Because the truth is that the results of using trading bots lies with the person who uses them. Trading bots works based on the command, not in its own way.
and it won't decide on its own if there are instances where human intervention is needed. Bot means it acts the same as you code it and does it for you without any intervention. The advantage of this is that it will follow the process strictly so there are no emotions involved unlike humans but if you don't have a good strategy for taking entries the bot wont do it for you. There are also people selling bots that do the trade for you and that is where I am skeptical because they are selling it instead of using it so it is better to have someone make a bot based on your strategy than buy it online. |
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What makes women go into gambling?  Possibility to get new set of frying pans quicker than Xmas or Bday. The main point is money so that they can buy stuff that is needed in the home and also help the husband with finances. Women are human also men and women are the same with what is the reason of men go to gambling it is still the same with women, they go for fun or they go for profit, women also get addicted same with men or they are more able to control their emotions though there are just rarely seen in the physical casino but right now with online one there are tons of women doing it as they just can gamble using their smartphones. |
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Another reason is to test out their games and also familiarize yourself with the game but even if you got lucky most casinos now require you to make a deposit and wager a required amount before you can withdraw your winnings.
Those who earn free spins are some sort of reward to the existing gambler on the casino so that they can try their luck and it is different from those newly signed up gamblers in that it is the marketing strategy of the casino to attract more gamblers to sign up.
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I must admit that before wayback 5 years ago I thought when we said hodl is just hold it for a few years no matter if your bitcoin is in an exchange local online wallet or whatever it is as long as you have Bitcoin. But as the years go by and a lot of things happen that is when youll need to securely put your assets on those where you have the seed phrase. I am just glad that I haven't learned it the hard way because if I did I would have lost my assets and probably my mind too.
Holding Bitcoin should be treated like having gold bars in our home. We invest in security and if we should do it with our Bitcoin mostly if we do have tons of Bitcoin in our wallet we should invest in a hardware wallet to be safe.
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Hey all, I am new here: I've been reading a lot, and not posting much at first. You have a great place to learn at BCT. When trading crypto do you expect better, from yourself, but then impulsively jump into things due to FOMO? Has anyone reading this ever found a cure? How do you permanently change and naturally be patient? Thanks all.
This is normal, what you can do is to set-up your target and commit on that because if you are too emotional then you might continue to experience this especially if there’s a lot of hype and fud in the market. Learn the process, understand the concept and be more confident with your strategy, this is the only way to battle the emotion to stay realistic and focus on what you have the control and that is to buy and sell at the right time. Focus on your goal and never trade if you have unstable emotions. That way, you can prevent yourself from falling into FOMO or any fud that will definitely ruin your trades. Also, when trading always be open with initial losses because that’s that nature of trading, but when you gained years of experience, that’s the time that you can control your losses and start maximizing your gains. This seems easy to say but difficult to do. Finding the root cause should be done like what triggers you to fall into FOMO is it social media? that you've read a post about it? then if it is, then stay away from social media for a couple of hours or a day until your emotions stabilize, don't trade on this time either. If it triggers you while you are planning an entry, then it is better to stop first, let yourself cool down and back again in trading and youll need to again plot your entries and explain why you are taking those entries. Emotions are our greatest enemy in trading because, apart from strategy our emotions are one reason why we keep losing our trades because we can't control them. |
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I can still relate to this even if I just gamble for fun because there are times that you regret not betting like there are games that my friends asked me to bet on and I tried to analyze that team and it has a huge percentage of winning but the problem is that I didn't bet because my salary is still not in and my extra money is intended for the food at that time so after the game I regretted not to risk that money I have and I would have gotten money on it but I am the kind of person that easily moves on so I just enjoyed myself and still I can sleep well at night.
Just move on if you regret not betting because you are only the one who struggles and still it is useless to feel that regret for a few days as you cannot take back the time that you can bet.
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