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Author Topic: Be careful with people's money  (Read 727 times)
alani123
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May 15, 2024, 05:13:44 PM
 #41

In situations where someone mismanages other people's funds to play in gambling sites I think it's a good judgment to entrust them with the minimum amount of money possible in the future.
If they are your child, make sure they can survive, give them food, transport etc but not in cash form. Be close to them and try to guide them.

For people that are older, it might be a lost cause. Just strip them from positions of responsibility, take their responsibilities on you if they're a family member. Give them an intervention. If it keeps happening be more vigilant and pressure them even more perhaps. Make them seriously consider attending some group therapy. That's the only good approach I can consider. Making it public isn't the right approach as it can be quite ruinous for the the individual. The goal is to help them fix themselves, not to ruin them.

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May 15, 2024, 05:21:47 PM
 #42

Some of the top gambling sites will play an important role in depending on your money. But these are very old events so all gamblers are now more aware of this. However gambling is a risk for you, so everything you bet here is at risk. A gambler wins a lot of money so will tip random people. But they are absolutely useless to me because gambling is completely based on my luck so no modern techniques will work here. Also a gambler can never guarantee that you will win a bet so you have to take all kinds of risks.

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Ojima-ojo
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May 15, 2024, 05:47:01 PM
 #43

Anyone that can not control their gambling habit shouldn't be entrusted with money, just like a drug addict, he will use the funds for gambling by all means, so I am not surprised by this development since the CEO is an addicted gambler's and he is in charge of the company money.


The fault is from the administration of the company allowing an individual 💯 percentage access to company's funding, when they should make laws that question every money movement.


Thirdly if you know any person that have gambling problem or any other addictions cases, such person shouldn't be trusted with money.

R


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May 15, 2024, 05:52:43 PM
 #44

Very familiar with cases like this, I've heard various stories where they take away customers' money that is not deposited but instead used for gambling, I don't know and indeed this problem is often the people who are the target.

They should be able to see their background whether they often play gambling if it is true then when he manages any finance it should be suspicious it could be that customer funds are used even though not all are like that, but most of them are now desperate with the money and the results are not cared about anymore usually the person is ready to be punished by the authorities.

R


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coolcoinz
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May 15, 2024, 05:54:36 PM
 #45

I feel like it's less important to give advice to people to be careful with money that belong to other people. More important is to make people hold their own money.

How many people do you know who custody other people's funds? I'm sure it's not many, but how many people do you know who hold their own money?
Moral of the story? Give advice to the general public not the select few.

Hold your own money people and you won't get scammed by people like this shitcoiner from OP's post.

Bravut
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May 15, 2024, 05:55:26 PM
 #46

In situations where someone mismanages other people's funds to play in gambling sites I think it's a good judgment to entrust them with the minimum amount of money possible in the future.
If they are your child, make sure they can survive, give them food, transport etc but not in cash form. Be close to them and try to guide them.

For people that are older, it might be a lost cause. Just strip them from positions of responsibility, take their responsibilities on you if they're a family member. Give them an intervention. If it keeps happening be more vigilant and pressure them even more perhaps. Make them seriously consider attending some group therapy. That's the only good approach I can consider. Making it public isn't the right approach as it can be quite ruinous for the the individual. The goal is to help them fix themselves, not to ruin them.

The help we can render is educating them on Money Management and habits, how they can make solid financial decisions solely without being shaken by emotion, pleasure, or any other factor but act when they want or how they choose to spend.

Fixing, bad habits like this requires  help of loved ones, but most at times some can't really open up to there family because of fear of criticism.

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May 15, 2024, 06:10:54 PM
 #47

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.
gambling addiction is a nasty mental illness that brings out the worst in all of us and it can affect the people around us, while I kind of applaud him for admitting what he did, this guy needs to be held accountable for what he had done.

I can't help but wonder, what happens then, will the people get their money back or at least a portion of it? or is it gone and they'll get nothing?

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May 15, 2024, 06:28:14 PM
 #48

It saddens my heart how most gamblers find it easy and comfortable to gamble with people's money without thinking about the situation of a loss bet, and how will they be able to refund the money given if they lose their bets.

They don't think that mismanaging people's money can destroy their relationship with people and also dent their image with others. Some people can be weird in character in not to protect their image to be a bad figure to friends or public. Nothing reduces someone prestige as being use as example to others as someone who gambles with other people's money for a bet

R


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May 15, 2024, 06:39:10 PM
 #49

How about maybe the biggest gamble of all, Fractional Reserve Banking where big/large banks use a large % of peoples money to gamble/invest in all sorts of different things, meaning that your money is really not all at a bank somewhere, though it's theoretically supposed to be.  It's kind of insane how hard it is (at least in the United States) to go to a bank and take out a "large" sum of money (say 7-10k).  This to me is crazy gambling and a reason laws were put in to place to stop this.

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May 15, 2024, 07:13:42 PM
 #50

It's always better to gamble with the money that doesn't impact your or someone else's life because you're literally throwing your money in fire when you gamble with it, you'll either get something in return or you end up burning the money. That's why it's always recommended to think gambling as a way to have some fun time rather than a way to make a lot of money with it.

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May 15, 2024, 07:23:13 PM
 #51

Well when it comes to this kind of experience, I would say I have come in very close contact to someone who actually did something reckless like this and infact he was my roommate during my school days at the University myself and I can even say he is part of my gambling story because he was the one who built my courage alot when it comes to Gambling because he was as wild as a boar with his gambling habits and he often fall victim of such mismanagement alot even to the extend of losing the money meant for coursemates for development of some stuffs in their department. If it's a case of rating if this particular fellow is an addict then I think I would definitely class him as one because he doesn't look or think twice before using someone else money which is the worsts of habits when you come to Gambling.

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May 15, 2024, 07:28:56 PM
 #52

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
On the time that you do find yourself that being addicted to gambling then there would really be always those chance or moment that you might be able to hit up that kind of possibility on making use of others money
specially if you are someone who do have that kind of severity when it comes to the addiction within you. You wont really be caring about into your reputation,credibility or being trusted on which you would be ignoring
it all away and wont be minding on what those people would be seeing into you or to those who had entrusted those funds, on which you would be basically be trying out to play as much as you can since you do have the funds on which you could really be that making use into. This is why it would really be that ideal for someone to carefully choose on who would be the one will really be handling out some sort of pooled funds or
whatever it would be.

When it comes to the temptation on spending it up will really be always there and if someone you had appointed does have that kind of addiction or engagement with gambling
then it would be better that it should be that pulled out directly or changed up someone who would be handling those funds.

R


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May 15, 2024, 07:31:33 PM
 #53

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

I am sure that if some person took my money and started gambling with this money without asking, then even if he won and gave me even more money, then most likely I would stop communicating with this person or stop would have any mutual relationship with him.
Money cannot be risked if this money is intended for some purpose or project, but if this money is not yours yet, then it will not lead to anything good and this person’s reputation in front of people will suffer greatly. They will simply stop trusting him not only with money, but also as a person in general.
Regarding the person who lost 300 thousand dollars, I think that he needs to be treated for gambling addiction. Most likely now he is dangerous not only to himself but also to others

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May 15, 2024, 07:34:52 PM
 #54

Gambling is not an investment that's where people that fall in this category get it all wrong. Every single gambling activity from online to offline to even raffles all have a certain percentage of luck that has to be present before you can win. Some persons may argue that experience and analysis is key however it varies  for different gambling activities and games. As a gambler, when you place a bet or stake  you should have in mind there is a possibility of you totally losing all the funds. As it can even serve as a discipline to make sure you don't over stake.
As for someone who placed a bet with funds that isn't is, I'll definitely conclude that such a person isn't loyal and is probably even a gambling addict. No matter how fancy or nice the odds may seem discipline and integrity is of upmost importance.

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rachael9385
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May 15, 2024, 07:49:04 PM
 #55

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
What I want to say is just an advice to whomever it may concern.
For a person with man or woman to succeed in anything they do, it's better for the person not to gamble or run away with people's money because all the day of his life i don't think he/she can ever have rest. And the greatest mistakes s person can make is to gamble with someone's money, no matter how sure the odds or predictions is, it's better he don't joke with someone's money. The reasons why I am saying this is because I have seen something about a person that uses others money to gamble and he lost the whole money, so the person sold all his properties just to pay the money he's owing, so now the person is fucking broke. So for him, that's the consequences of using people's money to gamble.

R


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hedgeh0g
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May 15, 2024, 07:58:15 PM
 #56

I often read stories like this, but they usually don't deal with cryptocurrencies. For example, in our country there were several cases when a cashier of a bank or other financial institution stole money and then bet everything on red or black. And if you win, quickly return everything before anyone notices. But as usual in such situations, they lost and only then realized what had happened. I call this putting your life on roulette, of course it’s terrible and you can’t take such a crazy risk, it’s unreasonably high. I have always wondered what is in the minds of such people, maybe they are tired of their job or wife, and after doubling their money they want to completely change their life. Or maybe they have a large relative who needs a very expensive operation and there is nowhere to get money quickly, so they go for it. I don’t know, but I never advise anyone to do such things, because we can ruin our lives.

R


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May 15, 2024, 08:07:45 PM
 #57


What I want to say is just an advice to whomever it may concern.
For a person with man or woman to succeed in anything they do, it's better for the person not to gamble or run away with people's money because all the day of his life i don't think he/she can ever have rest. And the greatest mistakes s person can make is to gamble with someone's money, no matter how sure the odds or predictions is, it's better he don't joke with someone's money. The reasons why I am saying this is because I have seen something about a person that uses others money to gamble and he lost the whole money, so the person sold all his properties just to pay the money he's owing, so now the person is fucking broke. So for him, that's the consequences of using people's money to gamble.
You are right gambling with people's money is the height of it all its very bad and individuals who do that should desist from it, gambling does not guarantee a high chances of winning so why would anyone think of taking such risk with other people's mone.i feel people who gamble with money that's not there's are addicts, it takes an addicted person to do such.

 That's why they always advice individuals to gamble responsibly so they won't get addicted to it, gambling addiction has caused lots of issues for many individuals I've also heard cases where some steal just to gamble like why would someone steal just to indulge in something that's based on luck mostly and to make it worst they'll even gamble with funds that's not theirs.

R


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stomachgrowls
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May 15, 2024, 08:09:26 PM
 #58

Gambling is not an investment that's where people that fall in this category get it all wrong. Every single gambling activity from online to offline to even raffles all have a certain percentage of luck that has to be present before you can win. Some persons may argue that experience and analysis is key however it varies  for different gambling activities and games. As a gambler, when you place a bet or stake  you should have in mind there is a possibility of you totally losing all the funds. As it can even serve as a discipline to make sure you don't over stake.
As for someone who placed a bet with funds that isn't is, I'll definitely conclude that such a person isn't loyal and is probably even a gambling addict. No matter how fancy or nice the odds may seem discipline and integrity is of upmost importance.
One of the shit reasoning that they do have in mind is that they do really believe that they could be able to put it back or give it back once they've been able to use it. They are really that confident that they could really be able to double out those amounts on the time that they would really be doing gambling, without even trying out to think up about on the risks involved with gambling on which they could potentially losing it all.
Instead on trying out to avoid with those things, they woudl rather be that continuing into the things that they do have in mind which is really that very wrong.

On the time that they have spent all of those amounts which aren't theirs, if this one turns out to be that so big then you are fucked up.
You would really be needing up to give it back or else you would really be facing up some possible legal actions on which we know that this could be potentially be thrown up into you.
Using up others money or doesnt belong into you is really that a serious crime i should say specially if its a company fund or something correlated.

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May 15, 2024, 08:15:05 PM
 #59

It is unfortunate that such a thing is happening and it is very bad that it involves a blockchain developer which is not in any way making any sense. This is what addiction could cause when a gambler is very much in the mode to gamble. This he has done could cause a wreckage to the project he is currently on because his actions already is making people to doubt his person as a gambler because it is obvious he already been noted as a gambling addict. And as such investors would doubt the credibility of the project in his custody which would affect the growth and development of the project he is currently on.

Although this happenings are not new to my knowledge. I have witnessed an occurrence where a student gambled with his school fees and lost all of them to gambling. As if that is not enough, I witnessed another scenario another scenario were a boy was given money for his hostel accommodation and he used it to gamble and also look OST everything and was left with nothing to hold onto.
I have also heard of occurrences or situations were a boy stole from his father to gamble and he lost everything.
This situation of the developer gambling with peoples money is not a new thing but I think he was actually too careless to have done such.

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yazher
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May 15, 2024, 08:16:17 PM
 #60

Well, suppose a person is hyper and doesn't know how to protect someone's property. In that case, they should avoid taking care of anything at all because they will end up spoiling it and wasting it just like some of the charity groups we had in this community where they spent lots of money personally that was supposed to be for charity and most people trusted them for it. Therefore, if a person is known to gamble most of the time, he shouldn't be trusted with their money in the first place but mostly this is not the case because these traits are hidden from others until they prove it and learn the hard way.

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.PLAY NOW.
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