Enriching others in exchange for fun

[giammangiato]

My short, sad story: through faucets and mining for fun, I had accumulated thousands of dogecoins (when they weren't even worth a fortune).
I didn't do any special operations, I just accumulated.
After a couple of years, I suddenly decided to trade them. Eight months after the trade, they hit a record high of 0.60, and I was really upset.
Thinking about it, I still made money, but I didn't make the leap because two years had passed and I didn't fully believe it.
Basically, if you've spent bitcoins gambling and it didn't go well, you know what you're doing; there's no point in feeling sorry for yourself afterwards.
Furthermore, mistakes are important for understanding and learning from, so you don't repeat them.

[Ishicryptic]

We are free to gamble with whatever choice in crypto we want. While them being rich to start with their business, some of our fellows are also becoming rich because they're withdrawing smoothly with the gains that they get from them. We still see a lot of scam accusations or delay of withdrawal but on the otherhand, we're seeing other gamblers that are also making themselves a favor when they win. So, it's not always that we're making them rich because they won't start this gambling business if they know that they'll just lose them money at most time.

We are making the casinos rich and they in return are making some of us rich so we cannot entirely say that it is only the casinos that are getting rich through the gamblers. We need to understand that casinos are people's businesses and their aim is to make profit so it should be expected that more gamblers will lose inorder for them to remain in business. Remember also that gamblers can win 100x their wagering amount and it is from losers that they get the funds to pay the winners, it means again that more people must lose for the casinos to pay winners and get their net profit.

[taufik123]

My short, sad story: through faucets and mining for fun, I had accumulated thousands of dogecoins (when they weren't even worth a fortune).
I didn't do any special operations, I just accumulated.
After a couple of years, I suddenly decided to trade them. Eight months after the trade, they hit a record high of 0.60, and I was really upset.
Thinking about it, I still made money, but I didn't make the leap because two years had passed and I didn't fully believe it.
Basically, if you've spent bitcoins gambling and it didn't go well, you know what you're doing; there's no point in feeling sorry for yourself afterwards.
Furthermore, mistakes are important for understanding and learning from, so you don't repeat them.

Such regret is common and many people experience it.
I've also had some stories with DOGECOIN in the past and it's probably pretty much the same as you have,
Holding DOGE for as long as I can but then selling it while rising at a price that is quite high in my opinion until it finally reaches an ATH that I never thought about.

This also happened to the ETH that I collected from several signature campaigns and some contests, selling at $500 which I thought was already high but reached ATH $4k++.

There is no end, if indeed for the long term then just hold on and set the highest price because the altcoins are rooted, moreover Bitcoin will experience quite extraordinary increases in the end.
And never make the same mistake, must know and be aware that some mistakes are constantly repeated.

[rachael9385]

Imagine losing one Bitcoin and you still call it fun, maybe the person will refuse to check the price of Bitcoin today else he will break down in tears for big such a huge financial mistake. Gambling is not always fun when there is painful loss such as the OP have described. You may not be forced to gamble but assuming you knew you are in serious business, maybe you would have stopped when you knew it was not giving you the money you expected to win.

Some people don't really understand what fun is all about while there are others that just claim to have fun all to justify their irresponsible gambling lifestyle. Losing one bitcoin is an irresponsible thing to do if there are people that actually throw such an amount away on gambling, to some that's even categorized as a generational wealth. There are certain mistakes people make that they end up regretting not in the present but In the future

[348Judah]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

We aren't enriching them, this is strictly business and anyone of us can do the same, just the same way you can choose to spend your money on entertainments like music, tv show, or buy anything that suites your taste because of your passion for , the same we are doing in gambling, exchanging our money for the fun we stand to get by playing varieties of games on their platform, while we are not being forced to do so.

[Satofan44]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

What are you doing with all your online subscriptions, your drinking, your smoking, your trips to the cinema? You are just enriching others left and right. The gambling is the bad guy, all other methods of wasting your money are fine.

Some people don't really understand what fun is all about while there are others that just claim to have fun all to justify their irresponsible gambling lifestyle. Losing one bitcoin is an irresponsible thing to do if there are people that actually throw such an amount away on gambling, to some that's even categorized as a generational wealth. There are certain mistakes people make that they end up regretting not in the present but In the future

1 Bitcoin is not generational wealth in any country of the world, you can't redefine terms to suit your own beliefs. You need to make a difference between rich and poor people. Losing 1 Bitcoin for someone is nothing. It is a bigger mistake for you to lose $100 than for them $100k. However, most people refuse to accept this truth as their poverty hurts them and their addiction is deep.

[Sticky Bomb]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

What are you doing with all your online subscriptions, your drinking, your smoking, your trips to the cinema? You are just enriching others left and right. The gambling is the bad guy, all other methods of wasting your money are fine.

Very correct, these guys must've wasted more BTC on other forms of relaxations and recreations which they term normal but not sharing the same view with spending it on gambling, maybe it's because they're expecting some form of returns from gambling which they didn't get while in other forms of wasting money it's clear to them that there's nothing coming back.

OP is having a hard time convincing himself that the funds he spent on gambling is still money he intended spending and even though gambling didn't claim those funds, yet another recreational vehicle would still claim it.

[bitbollo]

there is always a trade off. There are tons of activities where you are going to PAY for having FUN. Is this not ethical? Would you complain for this?
I would not list all of these activities but there are many industries based on this... including legal and not legal.

It is absolutely true that many people have used these services and wasted tons of satoshi there.
But if you have followed this journey we are all aware that at early stage it was not easy spend btc or even exchanging for cash.
I had this feeling many times (somewhat still happening with worthless meme coins).
People have it and somewhat whant to spend these coins... Even trashing in gambling is a solution for them!

[Y3shot]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

We aren't enriching them, this is strictly business and anyone of us can do the same, just the same way you can choose to spend your money on entertainments like music, tv show, or buy anything that suites your taste because of your passion for , the same we are doing in gambling, exchanging our money for the fun we stand to get by playing varieties of games on their platform, while we are not being forced to do so.

Gambling is a business that even gamblers benefit from. It is not just about the casino winning. Someone making their first attempt at gambling can win a huge amount, and at this point, the casino is at a loss. This happens to gamblers too when they lose to the casino. In the business of gambling, gamblers just need to be very careful so that they won't lose more. Because of the understanding people have about gambling and the cause of greed, that is why people reason this way about gambling.

[Promocodeudo]

Gambling is a business that even gamblers benefit from. It is not just about the casino winning. Someone making their first attempt at gambling can win a huge amount, and at this point, the casino is at a loss. This happens to gamblers too when they lose to the casino. In the business of gambling, gamblers just need to be very careful so that they won't lose more. Because of the understanding people have about gambling and the cause of greed, that is why people reason this way about gambling.

The thing is, the amount casinos lose can not be equal  the amount that gamblers themselves, I understand what you're saying, apart from newbies in the gambling industry wining at the first day of there trial, every body can win at anytime but it can't be equal to the casinos gain which you know and we can't go into that in details and also that's not an argument for the day because every establishment that renders any services is for the sole purpose of making profit so that's just it, yes in gambling we gamblers needs to play with caution that's the real deal and nothing more.

[Zigabel]

I usually not consider the opinion of gambling with Bitcoin as smart enough normally but seeing that it's the new innovation at various casinos, I can't say any more but to allow people who wish to give it a trial, Bitcoin for me is a supposed investment and so I see no reason why I should channel it into gambling where I stand a big risk of loosing it.

Ofcourse moat of the casinos may now stand to be a whale, they have a good number of btc in their possession, we have the likes of other big casinos here on the forum, they all have got a good holding that enables  them run the crypto  casino because they need a substantial holding to be able  to run such so truly they are considerably whales.

[Pandu Geddon]

I usually not consider the opinion of gambling with Bitcoin as smart enough normally but seeing that it's the new innovation at various casinos, I can't say any more but to allow people who wish to give it a trial, Bitcoin for me is a supposed investment and so I see no reason why I should channel it into gambling where I stand a big risk of loosing it.

Ofcourse moat of the casinos may now stand to be a whale, they have a good number of btc in their possession, we have the likes of other big casinos here on the forum, they all have got a good holding that enables  them run the crypto  casino because they need a substantial holding to be able  to run such so truly they are considerably whales.

If you buy and hold Bitcoin for investment, of course, you wouldn't deposit it into a casino to gamble. But if you have Bitcoin for transactions like you would with money, I don't think it's a problem to deposit Bitcoin for gambling. I also gambled with Bitcoin in the past. But now I use stable assets like USDT. Bitcoin is becoming increasingly valuable, so collecting it for the long term isn't wrong. Casinos accept deposits in other ways, so we can still have fun without losing Bitcoin.

[Satofan44]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

What are you doing with all your online subscriptions, your drinking, your smoking, your trips to the cinema? You are just enriching others left and right. The gambling is the bad guy, all other methods of wasting your money are fine.

Very correct, these guys must've wasted more BTC on other forms of relaxations and recreations which they term normal but not sharing the same view with spending it on gambling, maybe it's because they're expecting some form of returns from gambling which they didn't get while in other forms of wasting money it's clear to them that there's nothing coming back.

They are just dumb and judgemental hypocrites. If we'd analyze the life of anyone of those criticizing gambling, we are likely to find out that they are as financially literate as a toddler in a candy store. 

OP is having a hard time convincing himself that the funds he spent on gambling is still money he intended spending and even though gambling didn't claim those funds, yet another recreational vehicle would still claim it.

This can only happen because expectations are attached to the money, otherwise it is easy thing to do. Does someone find it hard to convince themselves when they spend money on food? 

[BitBakerr1]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

We aren't enriching them, this is strictly business and anyone of us can do the same, just the same way you can choose to spend your money on entertainments like music, tv show, or buy anything that suites your taste because of your passion for , the same we are doing in gambling, exchanging our money for the fun we stand to get by playing varieties of games on their platform, while we are not being forced to do so.

The thing is gambling companies need gamblers to patronize them because if gamblers don't patronize them they won't make money and the company will close down so when we Gamble they make money and in return we have fun and also get some money why having that fun, company should not be seen as a source of income when you see gambling as a source of income it will frustrate you gambling should be seen as a game used for having fun, some people are saying that gambling companies are making huge amount of money from us, yes that is true gambling companies make money through gamblers however there are some gamblers who are also making money through this gambling companies, I know some set of people whenever they predict matches they stick with huge amount of money and they win huge amount of money also there are people who are making money from gambling company there are people gambling has changed their life for good, so let us not only channel it to one side because both the gamblers and the company are making money.

[iBaba]

Imagine losing one Bitcoin and you still call it fun, maybe the person will refuse to check the price of Bitcoin today else he will break down in tears for big such a huge financial mistake. Gambling is not always fun when there is painful loss such as the OP have described. You may not be forced to gamble but assuming you knew you are in serious business, maybe you would have stopped when you knew it was not giving you the money you expected to win.

Some people don't really understand what fun is all about while there are others that just claim to have fun all to justify their irresponsible gambling lifestyle. Losing one bitcoin is an irresponsible thing to do if there are people that actually throw such an amount away on gambling, to some that's even categorized as a generational wealth. There are certain mistakes people make that they end up regretting not in the present but In the future

Do you know whether the person has up to 100 BTC in his wallet and just decided to do giveaway with that 1 BTC? Because for cry out loud, how can an individual be able to waist a whole 1 BTC on a bet? And who gave him such advice and confidence to do so. I know the person must be extremely rich and just wants to have fun with the funds he's made over the years of investments. What I know for sure is that some people are like that. They live their lives on the basis of the fantasies around them and spend hard earned monies made into irrelevant things like gambling, drinking alcohol and other things they consider as past time.

[GeorgeJohn]

If you buy and hold Bitcoin for investment, of course, you wouldn't deposit it into a casino to gamble. But if you have Bitcoin for transactions like you would with money, I don't think it's a problem to deposit Bitcoin for gambling. I also gambled with Bitcoin in the past. But now I use stable assets like USDT. Bitcoin is becoming increasingly valuable, so collecting it for the long term isn't wrong. Casinos accept deposits in other ways, so we can still have fun without losing Bitcoin.

They're gambling lovers, even though they hold bitcoin for investment provided is not kind of holding that you don't have access to withdraw or transfer from the wallet to another wallet, I think the person can use it to fund its casino account if the person wishes to credit its casino account with bitcoin

In other ways round you're right, because anyone can fund casino account with other cryptocurrencies, some gambling website have different coins they accept to funds their wallet for casino, but the thing is that almost all the casinos have a similar requirements to fund their wallet.

[Slow death]

Do you know whether the person has up to 100 BTC in his wallet and just decided to do giveaway with that 1 BTC? Because for cry out loud, how can an individual be able to waist a whole 1 BTC on a bet? And who gave him such advice and confidence to do so. I know the person must be extremely rich and just wants to have fun with the funds he's made over the years of investments. What I know for sure is that some people are like that. They live their lives on the basis of the fantasies around them and spend hard earned monies made into irrelevant things like gambling, drinking alcohol and other things they consider as past time.

But everyone has the right to spend money on things they enjoy and enjoy. For example, you might have a friend who likes gambling, and your friend spends hours gambling every Sunday. So, they're a happy person that way. You'll look at them and say that gambling is irrelevant, but when they ask you what you do for fun on Sundays, you'll tell them that you play soccer with your friends. They might also tell you that's irrelevant because they don't like playing soccer.

You might argue that your friend is spending money on gambling, so you consider it irrelevant. But your friend might also argue that you're spending money to buy soccer shoes, where you could break your leg, fall, and injure your head or face. So, in both cases, there's a risk of losing something, but both are relevant to both of you.

[qwertyup23]

Online Gambling and faucets platform like Freebitco is one of those whales today, I am sure many people have more platforms in mind, especially gambling platforms, aren't we just enriching these people? This is why I hate using Bitcoin to gamble today, it's a waste of valuable asset.

At the end of the day, we are talking about gambling here. Sure, you may had an unpleasant experience where you've lost more than 1 BTC during your gambling days but there may be some people who have profited against them.

Remember that the whole gambling platform is a business where the owners are inclined to earn a profit. Probably you just experienced the shorter end of the stick- you lost and unfortunately exhausted your BTCs in the process. But also consider the other players in this field where they profited on that gambling website in return.

What does Bitcoin have to do with it? When you play in a casino, you use money for that. Isn't it the same thing? It's strange, of course, to read such reasoning. Fiat money also has value all over the world. So I don't understand your indignation about this. It's phenomenal. The same can be said about the fact that I won't spend, for example, gold bars or something like that on the game.

I definitely agree with you.

It just so happens that BTC was the cryptocurrency used in that platform for gambling. Like what I also mentioned above, gambling is all about risk- a person (like OP) may lose some but there are others that won in the process.

[Sonia_123]

The first thing I'd like to ask is whether you were coerced or even threatened by the party you're referring to to continue gambling with Bitcoin. If there wasn't any, then honestly, I can't blame them or defend you. It means everything you did was your own decision. As we know, gambling should be done responsibly. Yes, I see from your story that you can't accept the loss of your Bitcoins, which means you're not following some of the recommended aspects of responsible gambling.
Gambling isn't always about winning; losses are always present, and they happen much more frequently. So, it's perfectly normal for a gambler to lose some of their stake. That's why we're always advised to only gamble with amounts we can afford to lose.

That is what they want their customers to use as their mode of payment,but you accepted and enjoyed the game, if you had won you will be very happy, it was your own evolution in accepting their condition, I don't see it as a waste of bitcoin .
Gambling win is not guaranteed, we all know it, so if feeling bad about your loss, you can stay off gambling until you are ready to accept your loss, because in gambling you gamble with what you can afford to lose .

[kryptqnick]

Losses in gambling clearly show how risky decisions can lead to serious consequences. And it makes sense one might feel even worse when losing BTC than when losing fiat, due to perceived loss of future profit (e.g., not just losing $1k worth of BTC, but $10k because of value growth over the years).
Thankfully, I haven't been through major crypto losses, and my gambling and betting situation is quite stable.