How to be invested in Crypto while staying away from gambling?

[MCobian]

Your username is "thepatient", but it differs greatly from the reality that you have been through regarding investing in crypto.
Your biggest mistake is don't have patience and can't control your greed. According to the story you wrote in the opening post,
it was very clear you want instant profit. The key to the success of investing in cryptocurrency is patience, if you want maximum
results just holding cryptocurrency that you have at least 5 years. And don't use all cryptocurrency you have for gambling, just
use 10% for gambling. Please try the advice I gave, I'm sure you can succeed.

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[ThePatient]

Thank you for sharing that story. I always long to read stories like this so that I can learn from your experiences. You are struggling whenever you hold crypto but not with fiat. I think what you need to do is to take a deep sigh first of realization. And then, practice to minimize your crypto gambling activity.

Not stopping but somehow controlling it if you're gambling with crypto. Set aside the feeling whenever you hold it and also keep a certain amount that you will never engage in gambling because the agenda of keeping it is for investment purposes.

if you can't control yourself, you'd better stay away from gambling

The control issue is with crypto but with fiat, he can handle himself. That's hard to imagine that you can somehow control the other way and can't the other side.

Thanks for saying that. And yup. Luckily I've escaped without hurting myself too bad financially, I've "only" ever lost out on potentially millions in profit, but never destroyed my non-crypto financial life.

Actually you can relate in this topic mate https://bitcointalk.org/index.php?topic=5233200.0

when OP is comparing trading in gambling in which instead of gambling why not risk your money in trading/
but of course this is depend on your desire because maybe you love Gambling more than any profiteering here thats why you encountered this problem.

Quick suggestion, why don't you invest your money to those gambling sites instead? Like for example, putting your crypto to Yolodice or Bustadice and let it grow passively. Just be sure that you know the risks that you are getting when doing business with them. You can take a loot at this thread where someone invested BTC on two sites and he publicly provided the records of his profit/losses on a weekly basis. Good stuff, if I'm gonna be honest.  

Code: (LINKS)

https://yolodice.com/#invest
https://bustadice.com/invest
https://bitcointalk.org/index.php?topic=5239794.0

i think Cryptogames.net is offering investments also?

Thanks for the link

I've been there a few times, started with a small deposit then once I started winning several times controlling myself became more difficult and my sleep schedule is all over the place because i'd watch most of the games i'm betting on(nba,tennis,rugby,cricket,etc). One of my solutions to avoid these mistakes is to find another activity and make yourself busy so you won't have time to make a bet then eventually you'll start to forget about gambling.

The sleep-schedule comments hits home hard. I would watch every bet as well.

How about splitting your funds into 50/50 the first half you invest in Cryptocurrency buy any desired currency and HODL it into your wallet or ledger and the other half you bet in gambling and casino's. But ultimately for this to work is you to set limits of bets like betting with small amounts so you wont lose it quick and to learn to strategize and win the game. But if you're unfortunate and loss then you shouldn't touch the first invested funds

Nah, not gonna work out

OP has most certainly already tried something to that tune before. The root cause of the problem here lies in an erroneous short-term prioritization (in an obvious conflict with longer-term goals), and unless he deals with his priorities first in a productive and constructive way, these measures are not going to cut it. He will likely find a thousand (or more) excuses to gamble away the remaining half of his funds anyway. As I see it, the only long-term solution in this case is to change his attitude in such a way that gambling no longer remains a preferred choice. And that means looking and going for a more appealing and attractive use of his stash of coins other than gambling

Well put.

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

Reading your story, you look like a person that wants a one-time big-time profit in one push.

You have lots of funds on-hand but still decided to risks it all with only relying in the future of those coins or doing gambling.

If you have time and since you are fine to take risks, why not take being risky on a higher level which is playing with the market trading. It might take time to learn but at least it you are not just relying on gambling returns.

In response to this (and other similar comments), I agree it's a potentially valid way to hold off the urge to gamble. There is a learning curve to it, though, and I would need to really dive into understanding it all. But yes, it can be done. I haven't ever fully tried committing to this route.

….thanks for the replies. Some great points and comfort in knowing theres similar people out there. It actually makes me think maybe I should engage with gamblers anonymous or something like that.

[matchi2011]

How about splitting your funds into 50/50 the first half you invest in Cryptocurrency buy any desired currency and HODL it into your wallet or ledger and the other half you bet in gambling and casino's. But ultimately for this to work is you to set limits of bets like betting with small amounts so you wont lose it quick and to learn to strategize and win the game. But if you're unfortunate and loss then you shouldn't touch the first invested funds.

It should be a tough decision to manage your funds without any breaches of wasting huge quantities. Using enough amount just to satisfy your desires with gambling, that could be for fun within our control. Virtual money will be gone without noticing it, so you should act wisely before everything is too late.

Correct, it's hard to realized that you already losses everything before you acknowledge your mistakes. Allocating funds and make sure that it will be store or used properly, there's portion for entertainment and portions for good investment. Take higher part for investment that's a wise decision to make,  keep your entertainment with balance allocated money..

[DabsPoorVersion]

You should know how to control yourself,

What I mean by that is, you should know your own reason why you invested. Don't let your greediness to overcome your own reason or the goal that you want to achieve on that investment. It may be hard at first, but realization is one of the best way to help yourself.

[CryptopreneurBrainboss]

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

I don't and that's because I intentionally decided not to get distracted by gambling although not trying to say it's bad as I do gamble on few occasion (controllably). Whatever the case may by, I still find a way to remind myself of the reason I got into the industry and the goals I intend achieving. The only distractions I haven't been able to combat is the urge to invest my coins in altcoins probably because most of them I did were profitable especially my early investment so mind although I'm beginning to experience so losses as my timing aren't always favoring me but hopefully I'll work on that.

OP, you just have to get yourself together, probably allocate some fund just for your gambling amusement an top up that wallet regularly that's to say, have a separate account for your investment and that for your pleasure. It'll go a long way in you having control.

[Genemind]

It is easier said than done, self-control, and discipline. You have watched most of the coin in the market cap since their day one and missed a great opportunity investing in them, and chose to gamble instead. Take it as a lesson and let this be a motivation for you to practice self-control. I value my investment in crypto more than my fiat money, this is where I secure most of my savings. That is why I can fight my urge to gamble online.

[kayvie]

How do you combat the urge to gamble with your cryptocurrency?

I don't fight that feeling, because if you fight it, you will just become eager to gamble. If you can't fight it, control it. What I do is, I allocate a different amount of money to use in gambling. This way, I can satisfy myself in gambling while I can save my investment. In your case, You just don't know what you will prioritize, but as I said, you control it, and you can do both for sure.

[Rocket.Run]

It's not a bad thing to gamble with crypto.
But too much is always bad.
Keep a crypto converting website on on your side and input the amount you will bet on a game every time.
It will give you a better sense of the value it translates in real currency.

[tbterryboy]

I'm a big believer in the crypto space but it's difficult for me to hold coins without gambling. The thing is, I have no issue controlling myself when I don't hold crypto. I could go to a casino or wherever and not have any urge to bet with fiat. Idk what it is about cryptocurrency. I just get so into certain coins that I want to make more so that I can get a bigger stack to hodl...but then by trying to get more the quick way, I lose it all.

You sound like you are intensively looking for more opportunities to multiply your cryptos. The scenarios that you have mentioned happens to everyone when they are having some money and looking for some opportunities. Basically, you must need two things to focus on:
1. Gambling cannot multiply the number of cryptos that you are having.
2. If you're a true believer in to cryptocurrencies then you should focus only on highly reputed coins like bitcoin and you must love it and should not think about spending it in near future.

After coming across this topic, I just wonder why I am somehow managing NOT spending my bitcoins in gambling/trading, because I am loving my bitcoin stash and I am highly hesitating to spend them.

[michellee]

You should know how to control yourself,

What I mean by that is, you should know your own reason why you invested. Don't let your greediness to overcome your own reason or the goal that you want to achieve on that investment. It may be hard at first, but realization is one of the best way to help yourself.

That is the only way that we need to do before we get deeper into gambling. When it comes to investment, we need to learn about the investment side so we can choose what will a good investment that we can select. There is nothing that we can do except to try to control ourselves, prevent greediness so we can achieve the goal. I am sure that it is not hard if we want to learn about controlling ourselves.

[Gotumoot]

I've been around the crypto scene since pre 2013 pump. Been around blackcoin pumps, pinkcoin pumps (all the color coin pumps), all the country-coin pumps (remember those?), every shitcoin known to man.

I even knew about ethereum (commented on page 4 or 5 on their announcement thread) and was a huge believer in the project. .....but instead of sending btc to their ICO site on a summer day in 2014, I sent it to nitrogen sports with the intention of making more btc to send to their ICO.

Throughout the years, I've done similar things with various alts: Monero, dark-coin (DASH), Cardano, you name it. I had them with hopes of holding onto them to watch their value grow...but couldn't...and gambled it away with 3AM challenger tennis, random soccer matches, or baseball over/unders (though, when I go on a binge, I actually start off pretty damn well, but get tilted the moment I lose a few times).


I'm a big believer in the crypto space but it's difficult for me to hold coins without gambling. The thing is, I have no issue controlling myself when I don't hold crypto. I could go to a casino or wherever and not have any urge to bet with fiat. Idk what it is about cryptocurrency. I just get so into certain coins that I want to make more so that I can get a bigger stack to hodl...but then by trying to get more the quick way, I lose it all.


Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

I never had those kind of problem when it comes to gambling I could control myself.
I think there are plenty of ways to stay away from gambling but it would depend on yourself on how you would do it of course you could always ask your family and friends for help,
Just make sure that all of the effort wouldn't be wasted.

[deisik]

Your username is "thepatient", but it differs greatly from the reality that you have been through regarding investing in crypto

Maybe he is a patient in a psychiatric ward

Just kidding, so no offence to be taken. Whatever his case might be, it is definitely not his, or anyone else's, for that matter, mistake or fault for lacking required patience or being greedy beyond limits. We are all greedy and impatient in specific circumstances and under certain conditions, and that's totally fine if you ask me. However, if this is not what you really want and strive for, which is evidently the case here, attacking or confronting the problem head on (like practicing more self-discipline) will ultimately turn out an exercise in futility since all it takes is just one relapse, and then you are instantly back to square one. How such issues should be dealt with, I described earlier in the thread

[Fundamentals Of]

I guess I am just lucky that I don't have a lot of cryptocurrencies to gamble with. Gambling is nice, it is really fun. I enjoy gambling a lot but then for someone like me who don't have much money, gambling will just take the backseat. Needs first before gambling. If there is nothing left after spending for the needs, no problem. Gambling can always wait.

[Jating]

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

Still boils down on your self control. I mean that mentally, it's really hard to see some crypto in your wallet and the urge to deposit in some gambling sites and play and bet on your favourite sports with good odds, play dice or slots machine. However, if you have the discipline and look at the bigger picture that your crypto will multiple overtime, then probably that itch will probably subside and you will have control of your greed, just saying.

[imstillthebest]

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

Still boils down on your self control. I mean that mentally, it's really hard to see some crypto in your wallet and the urge to deposit in some gambling sites and play and bet on your favourite sports with good odds, play dice or slots machine. However, if you have the discipline and look at the bigger picture that your crypto will multiple overtime, then probably that itch will probably subside and you will have control of your greed, just saying.

yes you can earn and withdraw but that is if you are lucky but what if not  ? no chance that you can win even at once  .

 you could have earn safely in the form of hodling alone  only if you have the patience to wait  .  my only advice is to stop opening your wallets more often so that you will not get tempted , also divert your selves away from thinking too much on your free time because chances are you will think of gambling your money in hopes of doubling it fast  .

[sheenshane]

There are a lot of things you can do and divert your attention to lessen your urge to gambling. You probably try to set your mind on how much you can use before starting the game that will not hurt you much when you lose. Setting your mind on when to stop gambling before playing will be the best tool for you will always find a way to hold back every time your emotions begin to hook you on each game. Think always the possible consequences either bad or good as long as the more you engage in gambling the more you will become an addict.

The root of these problems is just because you didn't control your self and your emotions.

[deisik]

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

Still boils down on your self control. I mean that mentally, it's really hard to see some crypto in your wallet and the urge to deposit in some gambling sites and play and bet on your favourite sports with good odds, play dice or slots machine. However, if you have the discipline and look at the bigger picture that your crypto will multiple overtime, then probably that itch will probably subside and you will have control of your greed, just saying

Do not overestimate the will power

The sad truth is, it doesn't boil down to self-control or self-discipline. It can help you from doing something bad once or twice, but if your urge is lasting and strong enough at that, sooner or later you will give in. Moreover, not giving in while failing to deal with your inner demons effectively to get rid of them altogether (if you need to) can be as damaging, if not more. When you have to resist a very strong desire and that goes on for long enough, it may drive you mad and you may in fact end up in a psychiatric ward with a psychosis or something much worse

[cabron]

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

Still boils down on your self control. I mean that mentally, it's really hard to see some crypto in your wallet and the urge to deposit in some gambling sites and play and bet on your favourite sports with good odds, play dice or slots machine. However, if you have the discipline and look at the bigger picture that your crypto will multiple overtime, then probably that itch will probably subside and you will have control of your greed, just saying

Do not overestimate the will power

The sad truth is, it doesn't boil down to self-control or self-discipline. It can help you from doing something bad once or twice, but if your urge is lasting and strong enough at that, sooner or later you will give in. Moreover, not giving in while failing to deal with your inner demons effectively to get rid of them altogether (if you need to) can be as damaging, if not more. When you have to resist a very strong desire and that goes on for long enough, it may drive you mad and you may in fact end up in a psychiatric ward with a psychosis or something much worse

Well you said it "patient". 

He's not the only one who battles with such urge and its hard to resist when you have the money to spend like this patient.

Most people will always find a way to spend their money whether its for their collections or for their addiction. Thepatient just happen to find gambling a better option. Find a nagger wife, maybe that will help.   

[deisik]

The sad truth is, it doesn't boil down to self-control or self-discipline. It can help you from doing something bad once or twice, but if your urge is lasting and strong enough at that, sooner or later you will give in. Moreover, not giving in while failing to deal with your inner demons effectively to get rid of them altogether (if you need to) can be as damaging, if not more. When you have to resist a very strong desire and that goes on for long enough, it may drive you mad and you may in fact end up in a psychiatric ward with a psychosis or something much worse

Well you said it "patient". 

He's not the only one who battles with such urge and its hard to resist when you have the money to spend like this patient.

Most people will always find a way to spend their money whether its for their collections or for their addiction. Thepatient just happen to find gambling a better option. Find a nagger wife, maybe that will help

Any wife would do, for that matter

Let me guess, our "patient" is not married (or un-married). Regardless, it will be an obvious conflict of interest, and would only make the matters worse, not better, and his life unbearable all in all. In other words, you can't solve one problem by substituting it with another as you will only be multiplying your problems (read, simple math, just like most simple ways, is not going to work here)

[stomachgrowls]

Anyone feel similar?

How do you combat the urge to gamble with your cryptocurrency?

How to combat these things?

It doesnt really need since you can do both things.It is just a matter of fund management.If you do tend to invest then you shouldnt touch those funds no matter what and since you allocate
budget for gambling then dont go beyond that and if that urge call to gamble is there then better to find another alternative or you shouldnt continue at all.
Learn to control yourself because if you dont then consequences would really be next in line.

Investment is investment and if you do really mind on making profits then you should lets your gambling activity would mixed out.