Investing in Bitcoin will bring you hope and gambling will leave you destitute.

[Fuso.hp]

Today I will share a real incident. An elder brother of my area who has been working in Bangladesh Army for 8 years. We have walked with him enough since childhood and played many sports together but we never saw any such habit in him. He used to serve in the army and used to come home when he got leave and we used to hang out with him but recently we heard some bad news about his affairs through his younger brother. There are various online casinos in which he gambled and ended up in debt of around $18,000. Already his father is a middle-class family member and his father works hard enough to get him a job and manage his money by borrowing heavily but by this time he is 18 thousand dollars in debt due to gambling. Not only did he lose $18,000 by gambling, but he ended up with eighteen thousand dollars in debt, and he also lost money by gambling out of his salary. 

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts.  If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling. 

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

[1714904156]

1714904156

[Blitzboy]

Gambling, while tempting, can be dangerous, as your experience shows. Contrast gambling with investment. As seen by your elder brother's financial crisis, gambling is risky and unexpected. Though volatile, Bitcoin investing offers more control and educated decision-making. Knowledge of risk is crucial.

Imagine his investment in Bitcoin or another currency. Research and strategy could have changed the outcome. His tale emphasizes financial literacy and responsible decision-making. We should consider risks and rewards and balance gambling, as this story warns.

[bitterguy28]

This is how sudden gambling can bring to a person , not to mention an ARMY GUY that is trained to have discipline yet now a gambling loser? and maybe can be called gambling addict?
and what this will end , he will lose his job because of such action and to become a family burden , sorry to hear this but he must decide sooner or will be a loser forever.

[Oshosondy]

This is how sudden gambling can bring to a person , not to mention an ARMY GUY that is trained to have discipline yet now a gambling loser? and maybe can be called gambling addict?

All he worked for was lost to gambling. He is also having $18000 debt to pay because he gambled and lost the borrowed money. This is just another example of someone that is an addict and that needs to just quit gambling. It will start from I can double my money, I can use gambling to earn, but leading to losses. After several losses, I do not know why some gamblers will still continue to think that they can earn using gambling.

and what this will end , he will lose his job because of such action and to become a family burden , sorry to hear this but he must decide sooner or will be a loser forever.

Is it path of the law in military not to gamble? In work, he has no offense is what I could think and see about this.

[bluebit25]

Life inherently has too many choices for us the right/wrong of that action reflects how that object has responded to it. It's not just about profit/loss, because that can happen in any field, but in the case that the OP mentioned, I think it's like a challenge for that individual in life. There is no guarantee that the beginning and the end will have good results. I am also involved in both the gambling and crypto fields, so I know fairness in each field, the level of ability of everyone in the general field will reflect the results.

But anyway, I feel sorry for them, but honestly, no one can help them but he himself must change to fix what has been done. At a responsible age, I think he needs a lot of encouragement to get through this stage, and don't blame him because everything happened.

[Natsuu]

Investing in bitcoin and gambling are not mutually exclusive. I mean you can do both and be respondible for both

If you enjoy both or any of them, manage your risks and enjoy. Choices in both investing and gambling are possible. It's crucial for people to approach these activities with caution, set limits, and be aware of the potential risks involved. Balancing these pursuits with a thoughtful and informed approach can contribute to a more secure financial situation for anyone. I mean too much of anything can be dangerous right? It doesnt only relate to gambling.

[ImThour]

That's why they say to never gamble more than you can afford and the fact that this person used debt money to gamble is horrendous.
I feel bad for him and I am sure he might be feeling so useless however let him know that to focus on his job and try to recover as much as possible from it.
That's the only possible solutioon for him to work this out.

[blckhawk]

But that's not how the world and the mind of an individual works unfortunately, they can do what they want with the money and not everyone thinks long-term when it comes to financial stability and so we have people like this that risks it all in gambling in the hopes that it can help them get out of the poverty that they're in and not everyone has the patience to wait for their investment in bitcoin or any other investment to mature to the point where they basically doubled their investment, all we can do in this kind of situation is to learn from it and see the mistakes that they've done as a lesson, we can't force them to live how we live and follow the same mindset but we can always do this, tell stories about what they've done and hopefully help a lot of people learn a lesson or two about this kind of stuff.

[btc78]

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts.  If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling. 

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

even though i do not have a debt of $18k i still know the general feeling of having a debt and feeling of directionless in the sense that i would not know where else to get the money so i can finally pay for my debt

we all know that gambling in itself is risky and it seems like the person in your story tried to cover the $18k he lost by playing more which is already a mistake you should never do when gambling: trying to get back what you lost
it’s very possible that this person got addicted to gambling but like you said there was no history of that

does he know about bitcoin? i know other people are not our responsibility and we should try to limit dsiclosing that we own bitcoin to other people but perhaps he would understand how different his life might have been if he had invested in bitcoin instead of gambling

[CODE200]

That's why they say to never gamble more than you can afford and the fact that this person used debt money to gamble is horrendous.
I feel bad for him and I am sure he might be feeling so useless however let him know that to focus on his job and try to recover as much as possible from it.
That's the only possible solutioon for him to work this out.

It's addiction at it's finest, that's how an addict operates, they need to get their fix on their addiction and so they either do desperate things that a normal person wouldn't do even in their desperate times and it could be at the lowest of the worst is to ask for a loan that will continue to pile up and get hard to be paid especially if it came from a loan shark at the highest of the worst is turning to a life of crime, the former is much prevalent on those who are drug addicted though but the point is that addiction makes you do things that will require your dignity. I do feel bad too but what could've he had expected to happen when he used that loan to gamble?

Gambling should be for entertainment purposes only especially if you're not a billionaire that won't mind losing millions in slot machines, even if there are people that have their lives changed because of gambling, that doesn't mean that it's going to be the same for you.

[elevates]

There are various online casinos in which he gambled and ended up in debt of around $18,000. Already his father is a middle-class family member and his father works hard enough to get him a job and manage his money by borrowing heavily but by this time he is 18 thousand dollars in debt due to gambling. Not only did he lose $18,000 by gambling, but he ended up with eighteen thousand dollars in debt, and he also lost money by gambling out of his salary. 

I8K in USD is a big amount for anyone residing in Bangladesh. This is a practical example of a gambling addict who will not stop until he has lost everything to fuel is gambling obsession. The problem with this person would be the same as all other gambling addicts face, chasing the loss and ending up in a pile of debt. I can only sympathize with his father and his family for going into debt because of his son's addiction. I do not think he would have every thought about Bitcoin or even investing that kind of money into something. An addict won't look into those aspects of life as they are chasing a dream which only a handful have ever achieved.

[abel1337]

After making a big mistake, there's always a regret in it. Even you are not the person in debt, there would still be realization. What you elder brother makes it on gambling and win millions racks, would we still have the same idea about investing on bitcoin where the return is far from millions possible earning on gambling.  Maybe your elder brother don't know about bitcoin and only knows about making big money on gambling.

What I am saying is the different point of views from each of us individual. Majority of us like/want to invest on bitcoin because we believe that it is profitable. The risks evaluation is also different from person to person, personally I think that investing on bitcoin has a less risks than playing gambling for profits. It's the point of view and understanding of what we are doing.

At the end of the day, we can't turn back time and make your elder brother understand that it's much more possible for him to profit by investing on bitcoin. The only thing he can do now is to move forward and pay the gambling debt he have.

[Hewlet]

Gambling is not for everyone. It you're not strong and well disciplined enough you shouldn't think on gambling at all.

So many persons have ran into debt because of greed while gambling, it's a bit reasonable to gamble with your spare money but if borrowing is the only means of funding you gambling habit, then you should know that it is high time you put a stop to it.

Leaving an isolated life could leave one to becoming unguided  addicted to vices like gambling and once this happens, it takes serious effort before such a person can to recovered from the spirit of gambling.

[naira]

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts.  If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling. 

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

In general gambling is easier to understand and understand but we need to learn a lot about Bitcoin including how it works and why Bitcoin is the investment  asset of choice. So you just need to ask your brother if  he has heard of Bitcoin before? If not, it means it is normal for him to gamble without having other options to gain profit. But on the other hand, if he already knows about  Bitcoin in general but still continues to spend $18K on gambling, it means that your brother has agreed to the risks of gambling and doesn't  care about Bitcoin investments.
We cannot dictate to those closest to us to invest, but providing them with the knowledge and goals of Bitcoin is something  that needs to be done, the final choice is in the hands of each individual.  Because the passion for gambling is greater than investing.

[lovesmayfamilis]

Knowing the average cost of living in your country, the debt seems very high. The question is, who could lend such amounts to your friend? If he was in debt, he could not regularly borrow from the people he owed. Don't you socialize in the same circle so as not to help your friend increase his debts? For some, the passion for the game turns into addiction, and there are always people who, seeing something like this, behave one way or another. Someone had to stop your friend; otherwise, he seems like a lonely person whose fate is indifferent to everyone.
Did your friend know about Bitcoin? Although such people always need to spend money, they will find it very difficult to save.

[KiaKia]

This is how sudden gambling can bring to a person , not to mention an ARMY GUY that is trained to have discipline yet now a gambling loser? and maybe can be called gambling addict?
and what this will end , he will lose his job because of such action and to become a family burden , sorry to hear this but he must decide sooner or will be a loser forever.

How can you say such thing? Discipline on the battle field is different from gambling discipline, don't you know? All discipline are not the same, as a soldier man who have no single experience about gambling he will still become a victim to everything that makes people get addicted to gambling.

Two soldiers fell victim to ATM card over here some days ago, there was a illegal camera installed in this ATM machine that's taking videos of people's code and passwords and this cost them heavily, their accounts were both drained, tell me where discipline should have played out here?

Stop trying to prove anything mate, you should be the one that think about it very well, been discipline doesn't mean you will fit in every situations.

[livingfree]

We can always conclude and compare situations like this with people that have been rekt by gambling into spending it to invest in Bitcoin.

That's always the case that "only if" they've done that then they're in profit now. But unfortunately, they're not in the situation to think about investing.

They've chosen that path of gambling their money and even taken a debt because of it. The guy is certainly addicted to gambling and no one's gonna stop him but will be knocked out by the reality with that debt.

[MoonClubCom]

Today I will share a real incident. An elder brother of my area who has been working in Bangladesh Army for 8 years. We have walked with him enough since childhood and played many sports together but we never saw any such habit in him. He used to serve in the army and used to come home when he got leave and we used to hang out with him but recently we heard some bad news about his affairs through his younger brother. There are various online casinos in which he gambled and ended up in debt of around $18,000. Already his father is a middle-class family member and his father works hard enough to get him a job and manage his money by borrowing heavily but by this time he is 18 thousand dollars in debt due to gambling. Not only did he lose $18,000 by gambling, but he ended up with eighteen thousand dollars in debt, and he also lost money by gambling out of his salary. 

If the person I am referring to had not gambled in online casinos and invested this amount of money in bitcoins, he would have made a substantial half profit today, even after paying off his debts.  If he had bought 1 BTC and sold it now when the price of Bitcoin was twenty thousand dollars, he would have made a profit of about 25K dollars even though he had paid a loan of 18K dollars. The reason for sharing this incident of my local elder brother is to warn users about the dangers of gambling. 

I don't owe you $18K so we may not understand it but the one I shared with understands how heavy the burden of debt is.

I fully agree with you. I believe that responsible gaming should definitely be the biggest trend for online crypto casinos in 2024. I notice that many platforms are working in that direction (self-exclusion, limits, and other stuff), but as long we still hear heartbreaking stories like this one, the problem isn't solved.

[AicecreaME]

You can't blame those people who lost a lot of money in gambling, because maybe they are more on after for excitement, thrill, while hoping to earn money.

The only mistake they always make is that they are engaging in gambling without any knowledge about it and self-control, and if I'm not mistaken, all of them are in favor to the house because they have to make a certain bankroll per day for their gambling platform to keep on running. That's why most of the time, players always lose, it's just about how lucky a certain person is in gambling to earn huge profits.

[Nrcewker]

You need to understand that both has some sort of risks and equivalent amount of return. If you invest, then you take less risk and hence your rate of profit will be also low. Now when you gamble, you take high risk and in a similar manner the profit is also high. Now depending on the user’s condition and necessity he will do either one of the following or any one. Really OP, the people can’t be blamed here, they gamble and they have to be responsible for their own actions only.