Be careful with people's money

[SmartGold01]

At first we should know the kind of people we should entrust our funds with especially those people who are gambling addicts there could be trust issues while giving them money because since they are allergic to gambling it could be used to gamble or trading. Trading is a bit manageable because sometimes if its used for crypto trading meaning there could be some left and could be restored than gambling, since when you places bet and the bet didn't go as plan then there is every possibility that the money is gone totally but with trading there is every chances one could wait for the coin get back to it's previous price except it's on a shitcoin instead of bitcoin.

[Slow death]

unfortunately when people are addicted they do the worst crazy things to keep playing and until there is someone who realizes that the behavior of that person who is dealing with other people's money is not good behavior, then that person who is dealing with the money Other people will continue to take other people's money to gamble because that person is sick and as long as they don't have medical help they will continue to take people's money to gamble. Unfortunately, most people don't understand that when someone is addicted they can sell anything, steal, kill to have money and continue gambling. When people read in the news that someone took other people's money and went gambling, they tend to think that they should arrest the person who took other people's money, they don't think that it is necessary to take that person to the hospital

[Rockstarguy]

There have been many cases like that where people misuse other people's money for their own interests, for example gambling with the money in the hope that they can multiply the money and make themselves rich. Gambling using other people's money is a very stupid act, because gambling is uncertain when you win or lose, and you will most likely lose, so gambling using money you shouldn't gamble with is very risky and should be avoided.

This so risky and sometimes i just wonder about people who do things like this if they don't even think what if they lose the money. People like this their confidence about gambling is annoying and doesn't make any sense. Normally it is even wrong to use all your money to play gambling but I'm so surprised whenever I see people using money that doesn't belong to them to play gambling. Most times gambling Dissapoint people that wants to make money so fast from it but people don't understand this and still go ahead using all the money they gave to play gambling.

People will always take gambling like this because because they are not even willing to learn to understand how to go gambling,  they just have the mindset that having money to play gamble is the main thing to make profit  from gamble.

[uneng]

There are many scammers offering business and investment opportunities for crypto enthusiasts on the internet with very good margins of profitability. In order to keep their platforms operating and paying users, they appeal to risky activities such as daily trading and gambling. It's the case of ponzi schemes, hyips and even some lending platforms, as we have already seen in the past they going down once their schemes failed due to the irresponsability and bad character of the services' managers.

More than being careful with people's money, you have to be careful with your own money in order to not send it to one of those scammers who are going to steal or lose your hard earned money which took you several years to accumulate. Always you see a very good offer to be true, you have to decline it, because it's something sketchy which won't guarantee you any safety or guaranteed returns on long run. It's like paying someone else to gamble with your own money. You aren't going to have fun playing, but you still share the same risks of losing everything!

[mirakal]

People should check the background or character of the people they entrust their money with, but unfortunately, some people are so good at hiding their character that they only get exposed when the deed is already done.

Temptation is really high for people to take a chance on gamblers, especially if they see a match that they figure out could give them a sure win.

This is why companies do not put people in a sensitive position dealing with money who they know to be bad at handling money or addicted to gamblers. I'm not saying they cannot be trusted; it's just that the temptation will be hard for them to resist.
 

Right, there should be a background check prior to entrusting the funds to him. If he has no histories in gambling or have not been in money laundering cases, then most probably he can be reliable at some point. But we all know how huge amount of money can be a root of evilness, that even a very honest person can hardly resist it. Just don’t trust other person when it comes to money, but manage it on your own to secure your funds 24/7.

[Agbe]

If anyone knows that he is not too good with keeping someone's money in his custody then he should avoid it with all alacrity because if he does then he will definitely put himself in a very big debt that he can't even pay. And he is a gambler in this matter. We gamblers have one funny mindset that when someone's money is in our custody then we would say let me borrow $40 to gamble and win the game balance back and use the profit to enjoy but irony caught us up in most cases. And they would not even think of if they lose where would they have the money to pay back.

[livingfree]

Addiction in gambling and having no control over your emotions can really make you do crazy things as what the OP has said.

Coming from professionals, to simple folks and plebs, there can be situations that we can expect that an addicted gambler will spend the money that they are not theirs.

Being responsible comes with a reputation that you bring to the people depending on the work or trade that you do. If you can't control yourself and you are touching people's money, you'll be ending up as a scammer. No problem if you lose entirely your money because it's yours and you are the one that has spent it but if it's other's money then it's a different story.

[n0ne]

These are some basic principles one should follow in gambling. In any situation, he or she should not use others money to gamble. We might feel good, as we have the capital to gamble and make a win. Also, people used to be more confident that they could win something out of the money and return it. This won't be successful, and the outcome has killed many people. Even in my personal life, I've suffered from it. A friend of mine gave me a little money as he felt it might be used for unwanted needs, but I gambled and lost. I didn't know what to do, and later, I borrowed from another person and settled with him. If I had informed him that I lost it on gambling means, surely that'd hurt him, and the friendship might've come to an end.

[JMBitcointernational]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:

“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”

His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007

https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic

Op this is actually true and i don't really know what is causing this problem of  mis management of funds, it is quite recurring in the society and it has become very common, most times you will send a teenager on an errand he will end up using the money to play bet and when you ask him his reasons for his  actions he will not give you any reasonable response. but in a way i realized that it is because of addictions and most of the people that indulge in such acts are addicted gamblers and can never control their feelings and urge when it comes to gambling.

keeping someone's money in other hand is very tempting especially when it is entrusted in the hands of chronic gamblers because they would like to use the money to play in a way to double it later run but they will end up losing the whole money to betting shops or casino house, however, i would like to advice every gambler who is not friendly with keeping someone's money to abstain from it especially when his a chronic gambler because keeping money is very tempting.

[topbitcoin]

What the OP said is correct. Mismanagement of money, especially through gambling, is often highlighted in the news.

And online gambling activities are very easy to get out of control quickly. Online gambling platforms are very easy to access. If you lose control, then everything can end at your fingertips. Online gambling platforms present and provide attractive offers such as bonuses and free spins which serve as further enticements of the players. If a person lacks self-control or is unaware of the risks, falling into this trap will pave the way for repeated losses without realizing the gravity of the situation.

And to prevent mistakes in money management, this largely depends on gaining in-depth insight into how to handle personal finances wisely. Setting budgets and limits for high-risk activities such as gambling, seeking help if you suspect an addiction, are actions that can help you to keep your financial well-being intact. Knowing the risks and negative consequences associated with gambling is key to protecting us from getting involved in this destructive cycle.

[tread93]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

The core developer of the Solana-based cross-margin decentralized exchange (DEX) admitted his wrongdoing in a public statement shared in a May 14 X post:

“To address the elephant in the room, the allegations are true, I took the funds and gambled them away. I didn’t run away with it, nor did anyone else.”

His statement on X:
https://x.com/hoakbuilds/status/1790434490877129007

https://docs.google.com/document/d/10ta9quGGrmTNE1Pi7MlgLgSx9zxEqQdkbBfis1pmHrM/mobilebasic

Its definitely not a wise thing to do, in this situation he could risk getting himself into a lot of trouble I would imagine. Its crazy how people find these loop holes in things that you can exploit and steal away whatever they want without any feeling of a guilty conscience. I suspect that these actions will come back full circle at some point.

[bitzizzix]

People should check the background or character of the people they entrust their money with, but unfortunately, some people are so good at hiding their character that they only get exposed when the deed is already done.

Temptation is really high for people to take a chance on gamblers, especially if they see a match that they figure out could give them a sure win.

This is why companies do not put people in a sensitive position dealing with money who they know to be bad at handling money or addicted to gamblers. I'm not saying they cannot be trusted; it's just that the temptation will be hard for them to resist.
 

Right, there should be a background check prior to entrusting the funds to him. If he has no histories in gambling or have not been in money laundering cases, then most probably he can be reliable at some point. But we all know how huge amount of money can be a root of evilness, that even a very honest person can hardly resist it. Just don’t trust other person when it comes to money, but manage it on your own to secure your funds 24/7.

The issue of money is very sensitive, so knowing or understanding exactly who we are entrusting our money to is a must and must be done, especially since this money involves many people.
If you entrust your money to the wrong person who likes to gamble, there is the potential for the money to be used for gambling. Indeed, initially the person had no intention not to use it and when his personal money ran out due to gambling and saw that there was money that was not his right, then he would have the opportunity to use it with the intention of borrowing it without anyone knowing and if he won he would replace it. And this often happens and in the end the money that doesn't belong to him runs out in an instant and he doesn't have the ability to return it which ends in violence and even being sued if the money is large. There are even people who take valuable items to make money and replace money that has been used for gambling and there are many other stories that end painfully.
In fact, if the person who entrusts the money knows that the person likes to gamble and always loses, then that person is also stupid because they don't think long enough about whether the money could potentially be used for gambling or not.

[Text]

I remember what our father did with the money we borrowed from our stepbrother. He spent half of the money, which was supposed to be used for my sister's medical treatment after a motorcycle accident. I had entrusted the money to him because we didn't need it yet at that time. After a few days, when I was going to retrieve it to return it to the person we borrowed it from, he told me that he had used it for cockfighting gambling. He said he was persuaded by a gambling-addicted friend. Until now, our stepbrother doesn't know what happened.

[wiss19]

I don't think that a simple advice like that will be effective for a person who is already involved and are addicted on some activities like gambling. They only care for their selves anyway and what they are showing to the people around them, are only lies in order to have their confidence to entrust their money with them. The second guy in the story is honest to admit that he didn't ran away with the money of the people but he still gambled it away, lol.

I think there is no difference with that. We think it's crazy because some of them are already earning a decent money and yet they still get caught by the gambling trap. We can only hope and pray that we won't be like them or we can now fully recovered and never fall on the same hole again, in case we are like that before.

[wxa7115]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

Those stories are just a small sample of the huge amount of scams that happen all over the world, but most of them start on the same way, a person trusting a third party to keep their money safe instead of doing it themselves.

This is why I really believe that bitcoin is the future, as bitcoin could prevent several of those scams, and while it is true there are many scammers lurking around this market, in my opinion they succeed because most people do not really understand the ethos of bitcoin and how it works in a different way compared to fiat.

[arjunmujay]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

Those stories are just a small sample of the huge amount of scams that happen all over the world, but most of them start on the same way, a person trusting a third party to keep their money safe instead of doing it themselves.

This is why I really believe that bitcoin is the future, as bitcoin could prevent several of those scams, and while it is true there are many scammers lurking around this market, in my opinion they succeed because most people do not really understand the ethos of bitcoin and how it works in a different way compared to fiat.

I think wherever the place is, whether it's FIAT or bitcoin. if we entrust it to a third party it will clearly be at risk. So it would be better if we kept our money. because we ourselves never know how third parties manage the money we entrust. for example, like the case above, which uses it for gambling. There are also other cases of people entrusting their bitcoins but instead they were taken away and disappeared without a trace.

[Rabata]

For those who want to use gambling in a different way, the potential for major disasters is high. There are some gamblers who use a small amount of money in the industry for whom gambling will not create any obstacles. I've heard of cases where a gambler lost someone else's saving money by gambling. Some gamblers lost money gambling even after selling family property. Even teachers are doing this kind of work. I have heard some other cases where that a priest is also gambling. Gambling is not bad but if they don't acquire basic knowledge for gambling then gambling can bring big disaster for them.

[Hirose UK]

Cases like this have happened several times and of course this is one form of negative impact, and things like this will give bad view or perception of gambling and the gamblers themselves.
But the problem is that things like this are not the fault of gambling but the fault of those who cannot control themselves and only follow excessive ambitions and desires when gambling.
They lose control, forget their limits and make decisions that are really reckless and too bold, but all of this gives them really deep feeling of regret because they used money that wasn't meant to be used for gambling.

I think if gamblers would learn to control themselves, be emotional and also be able to limit themselves when gambling then all cases like that would never happen.
But it will be difficult because they have the belief that they will win and get back the money they have used, this belief or mindset is the start of mistake that often occurs.

[Assface16678]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

Those stories are just a small sample of the huge amount of scams that happen all over the world, but most of them start on the same way, a person trusting a third party to keep their money safe instead of doing it themselves.

This is why I really believe that bitcoin is the future, as bitcoin could prevent several of those scams, and while it is true there are many scammers lurking around this market, in my opinion they succeed because most people do not really understand the ethos of bitcoin and how it works in a different way compared to fiat.

I think wherever the place is, whether it's FIAT or bitcoin. if we entrust it to a third party it will clearly be at risk. So it would be better if we kept our money. because we ourselves never know how third parties manage the money we entrust. for example, like the case above, which uses it for gambling. There are also other cases of people entrusting their bitcoins but instead they were taken away and disappeared without a trace.

And also, don't gamble on the money that came from another source. Just like what the OP said about a post he saw, losing money from gambling is one of the biggest problems, and it will be even bigger if that money came from someone because you only doubled your debt and losses. I'm sure anyone could become crazy at that.

In terms of third-party casinos or any third parties that you need to use your money for fiat or crypto currency, it's important to know first if that application or website is safe to use and if it doesn't have any history of scamming or complaints when it comes to money. In short, you need to become too cautious about what you use and who you trust your money with, because there's no recovery of money if your money loses to those platforms, so it's very important to secure the platform you will use and also make sure it is trusted.

[NotATether]

I have read many news that someone will mismanage people's money. I read one about a university student some years ago that gambled with the money contributed by his course mates. The main reason that is causing the money mismanagement is either trading or gambling, but I read more about gambling online. Some can be because of other reasons.

There is another one that I read today that people thought he ran away with people's money but he later confessed that he lost it to gambling. It is about a solana-based cypher developer, he confesses that he lost $300K of user funds to gambling.

$300k Hughes would have made another $300k+ profit from this if he could have won gambling. But he lost his entire money due to gambling loss. Gambling therefore needs to be used carefully. be lost $300k because he could afford to bet that amount. No common man would be able to bet such an amount on gambling.  But if he did this, it means he owns a lot of money or he is deeply addicted to gambling.  If he is a rich person then such a loss will not do him much harm  And if he is addicted to gambling then it will be another horror for him.

I wonder if he is going to get lawsuits or threats coming his way, now that everyone knows that their money is gone.

This is why you should not be managing anybody's money if you are a problem gambler. It will cause more harm than good.

The profit that he could've made if he won is irrelevant. He should never have gambled with public community funds in the first place.