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

[peter0425]

He must be facing something that he turn out to be a gambler because as an army ? they have a lot in mind specially in saving their life and the country so being in gambling is the last thing they will ever do.

What made me think is why on earth that gambling sites in your country allows  gambler to have that credit? a 18 thousand dollars is such a  huge amount that if he instead invested in bitcoin surely he will make more than double that.

[sokani]

There's a saying that good things doesn't come easy and it takes time. Bitcoin investment as we know is long term and it requires patience. Gambling on the other hand, is a get rich/lose money quick venture and it requires skills and discipline. The dude opted for the easy way out and got himself into a mess, and that's gambling for you, it can reduce a man from riches to penury. If he had invested such amount of money in Bitcoin when it was $20k - $25k, he'd have been beaming with smiles now.

[Fuso.hp]

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.

In our country, government jobs are viewed very highly. I have a government job, if I want to take a bank loan, I can take a bank loan very easily. Not just bank loans, I am serving in the army and if I want a large amount loan from my relatives, they will arrange the money for me anyway.
When going to get married, the girl's father first asks what the boy does, if the girl's father answers that the boy is working in the army or Bangladesh military, then the girl's father does not feel the need to see the boy and arranges the marriage without seeing the boy. Collecting 18 thousand dollars is not a difficult task for the people of a country where people are so weak for government jobs.

[moneystery]

but not everyone has the awareness to invest in bitcoin, even when they have known about it for a long time, they see that gambling is more fun and can give them immediate profits compared to investing in bitcoin where they have to wait for it to get a profit.

they also think that investing in bitcoin doesn't make sense and is just a waste, so they prefer to gamble their money to get money faster. and that's why we are all here grateful that we have knowledge about bitcoin investment which can save us from things like that.

[slaman29]

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.

Yes, at a glance, it's no brainer. But one must understand that Bitcoin IS a gamble. I support it. I love it. A lot of my hopes is on it. But I remember in 2017 the biggest lesson I believe is BTC is as probable to go to $1million as it is to go to zero. You never know.

A lot of people "invest" in crypto. But they trade, sell, buy, exchange for altcoins.

That's gambling!! So it's pointless to switch a gambler to "investing" if they don't address the addiction and see Bitcoin as a get-rich-quick.

[Churchillvv]

Your friend is a victim of circumstances, your friend just ran out of luck this time because he had something in mind before venturing into gambling although it turn out to be a bad decision that lead to the extent of borrowing to gamble.
He made a mistake that could result to a big effect in his life and his family generally. Based on your country economy he is in a very big debt considering fact that his family is a middle class level family they could bring him out of that mess.
But before he got so attached to gambling to that extent of addiction, was there nobody aware of his gambling habit? because surely there must be someone aware of it. so knowing fully well that his going to gamble with all his money they should have stopped him but they didn't, even the people who borrowed him the money could have contributed to his down fall.

Any ways at this point there is no need to judge his actions, all he needs now is to be redirected towards a better life.

[traderethereum]

I think this thread has something to do with gambling so maybe it can be moved to the Gambling Discussion section.
Gambling is actually for everyone, but the problem is that not everyone has self-control or can control their emotions so they don't gamble excessively. And that is the impact of gambling that will be received by people who cannot limit themselves to gambling.
They will lose a lot of money and may also leave debts to their family so they can help them pay off their debts. And this is a valuable lesson for everyone, especially for those who are still gambling today so that they can take care of themselves while gambling and not lose self-control.

[pakhitheboss]

This incident proves to what extent a gambling addict can go. I converted the amount $18000 to the local currency  of Bangladesh and it comes around to one million nine hundred seventy-five thousand taka. As per my understanding this is not a small debt for anyone from the middle class.

I don't know how this guy was able to get into neck deep debt. I feel he would have borrowed that amount to use it for gambling. Being an army man he would have got loans from state owned financial institution. I think he might have used this opportunity to get loan and gamble assuming he would make it big if one-time the jackpot hits. He might have now understood it the hard way, which is kind of sad as his family and his father now get dragged into this mess.

[iBaba]

There's a saying that good things doesn't come easy and it takes time. Bitcoin investment as we know is long term and it requires patience. Gambling on the other hand, is a get/lose money quick venture and it requires skills and discipline. The dude opted for the easy way out and got himself into a mess, and that's gambling for you, it can reduce a man from riches to penury. If he had invested such amount of money in Bitcoin when it was $20k - $25k, he'd been beaming with smiles now.

I like your approach towards responding to this situation. It is not easy to be successful in life and that process comes with a lot of responsibilities which includes you being patient with time, to the best ability you can. As the saying goes, patience is a virtue and only the patient dog eats the fattest bone so all these 'get rich quickly' kinds of schemes and games such as gambling is a no-go area for anyone out there looking for a sustainable source of income and investment in life.

Bitcoin investment amongst other several lifetime investment helps a whole lots which, although can be tiring to anyone who's ambitious and impatient but those can be the surest ways to get richer in the nearest future and not the through betting. It is painful to be patient with the process of investing but awesomely rewarding if you become successful in doing it. So the army guy could have learnt this better than anyone else.

[AirtelBuzz]

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. 

I have seen with my own eyes how gambling has almost destroyed many people's lives. People get addicted to gambling due to their greed which leads them to sell their wealth.After reading your post I understood that your elder brother may be very greedy he was not satisfied with his government job salary.He wanted to earn a lot of income at the same time for which he chose gambling and later he came back in debt.

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. 

18,000 dollars is a lot of money in any country.If your elder brother knew and understood about Bitcoin, he might have tried investing in Bitcoin instead of gambling. Because at the time he became addicted to gambling, the price of Bitcoin was very low.The amount of debt he's carrying now seems like he wouldn't have been in debt if he'd invested in Bitcoin.

[Dunamisx]

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,

Someone like me will always advise that if you want to gamble, then do it well and in a more matured ways, but don't dare make use of the money intended on bitcoin Investment for gambling, this is be a very wrong decision to make, we cannot afford using our asset on liabilities since when we gambles, we rather win or loose on our bet made, also when we made a bitcoin investment, we are not on a hundred percent assurance that we must be profitable about it except we are ready and willing to hold for some time.

[Odohu]

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 do both gambling and investment in BItcoin so I disagree with you that gambling will leave one destitute. There are many people that owe everything they have accomplished in life to gambling, it all depends on individuals because not everyone will succeed in gambling, same goes for Bitcoin investment. That your brother failed in gambling does not mean that others are failing or will fail. There have been several stories of people who got wrecked from Bitcoin investment.

Your brother failed all the rules of gambling and allowed addiction to take over him. He even went as far as borrowing money to gamble; if he borrowed to invest in Bitcoin, the possibility that he will fail is very high

The point I'm making is that it is an individual thing and not general to everybody. Gambling is a big industry that people are making huge money from.

[Finestream]

To be honest, if you know how to gamble responsibly, you will never end up in distitute. Only gamblers who don't have self-discipline and self-control end up in huge losses. Most likely because of greed, that they forget to balance their profits and losses.

However, investing in bitcoin may actually bring hope but only for those who know their investment well. Otherwise, when greed motivates them to invest even without prior knowledge and experience, they will still end up in distitute because of their uncontrollable losses.

[GigaBit]

No matter how hard you tempt a gambler to invest in reality, he won't find much interest there. Because he wants to see his money change quickly. After losing so much money, your brother may now realize how much damage he has suffered due to his gambling addiction. He took gambling as a platform to earn money. Maybe your brother now realizes his mistakes but he is unlikely to get that money back. This may be a cautionary message to such gamblers in this thread who are into gambling for income rather than entertainment. A few months ago Bitcoin hit its all-time low below $18000. Today, those who held Bitcoin at that time have managed to make around 1.5 times their profits. Investing and gambling are completely different. Gamblers will not be compatible with those who believe in investment.

[Litzki1990]

If you find out about this incident through the person's younger brother, here the person's family may be taking a bigger picture of the matter. $18K is a lot and losing $18K gambling is a big deal. People do not usually make such mistakes unless they are highly attracted to gambling. After borrowing such amount of money your elder brother should have realized that he is going in the wrong direction and no matter how much money he borrows from others and gambles he will never be able to recover that money. Your older brother told the family too late when he lost a lot of money and was pressured to repay the loan by those who loaned him money. I can't imagine what the general public would do if a military officer made such a mistake.

[Jawhead999]

What makes this thread is interesting? the @OP wear a gambling signature and saying if gambling is bad, even more suggest people to invest using borrowed money.

Gambling is essentially make you to lose money, while invest is essentially make you to earn money, so comparing both gambling and investing is completely not make sense at all.

[Adams0001]

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.

Anything you put your money into is a risk, and people who are gambling can't be patient to invest in bitcoin for the long term because they need quick money to solve their problems, and they see many people who are into Gambling and succeed because someone can't just jump into something that isn't profitable and start spending their money on it, it's just that bitcoin is better than gambling because he will lessen your losses when you understand and gain knowledge on it and you will get profit when the market go well. Gambling is just a lucky game, you can't predict who will win that's why it's a funny game many people engage in it, even if you don't have enough knowledge on it you can still be profitable, because it's a lucky game and many people enjoy it and I don't think he will be easy to convince someone to stop it because if they're winning their mind will telling them they should play more to get more money.

Bitcoin is also a risk, and if you can't be patient and take risks to profit, you will never succeed on the crypto journey, because the price is volatile in increase and decrease, and if you can't invest for a long term like 3 to 4 years, I don't think you will get huge profits on bitcoin because you can't just get big profits when you just start your investment, you most likely face many challenges that is why before you want to start your bitcoin investment you need to get massive understand on it, because if you are facing challenges he will not surprise you. I am very sure if you can understand bitcoin strategy and follow it gradually you will get huge profit that can just change your life one day, and his more better than gambling because money doesn't last in hard and you will spend it any way you won't get plan for it, but investment is your hard working and before you get profit you will have plan for it before he comes.

[mirakal]

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.

That's why people say you can be good on one aspect but fail on the other. Being a disciplined military does not guarantee that he'll be a disciplined gambler as well. If he continues gambling despite of his losses and debts, he'll end up being homeless and might suffer from mental and emotional breakdown if he cannot stop his gambling addiction. Now, all his hard-earned money have gone into waste due to gambling addiction.

Even in bitcoin investing, if he'll still do the same investing without risk management, he'll only suffer from losses. Bitcoin investment gives hope and brighter future to those who have patience to hold, and most especially to those who understand bitcoin as an investment. If you are not doing this, you are more likely gambling your money, not investing.

[synchronym]

Gambling is very harmful to people's lives. Thousands of families are suffering due to gambling. With posts like Opi's posted an army man can live his life comfortably only because of gambling he is in this situation today. Surely we should all learn from this incident that how harmful gambling can be in human life can almost end a person's life. Of course, if he had invested that money in Bitcoin, he would have had a lot of success in his life today, so everyone should give up gambling.

[EarnOnVictor]

Well, so many people are losing in gambling, and the main reason is that their focus is on gambling to make money, and not only that, and also to make consistent money that will eventually make them "rich." Is this riches often happening? I say No. This is why people should define the thin line between gambling and investment before committing their money to either of them. If you want to gamble, gamble, and if you want to invest, invest, by this, you do not regret your action and start crying foul

Like the guy the OP explained, I believe he is not daft to know the difference between gambling and investment in the first place before he opted for his choice. It is an investment that can truly make you earn and continue to build your portfolio with a low risk, and not gambling. Even as an adult, if he mistook the two for another, then he is not wise as some would believe that getting money through gambling is faster than getting the money through investment which is safe. This is how they cause issues for themselves and will lose because they do not even prepare rightly for gambling which is more risky than investment.

Also, about your advice, it is so good, you should invest first and gamble later. As a matter of fact, gambling cannot secure your future but investment can, so you should focus on the investment but only gamble with the spare money if you must.