Quote from: aioc on October 12, 2019, 12:46:19 AM

Quote from: GreatArkansas on October 09, 2019, 01:24:16 PM

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

This is gambling it's hard to break even here or decrease your lost, you are literally giving up your hope to recover all your investment and the worst part is yet to come, you will be in sorry for the rest of your life if you lose all those Bitcoin in gambling and Bitcoin another all-time high, you will carry that for the rest of your life.

If the person is losing great deal of mighty bitcoin in gambling, he shall either pause gambling for sometime or shall quit it forever because bitcoin is the asset of crypto market. It is you can say in simple words the diamond of crypto market. Only a fool can think about gambling with bitcoin and keep doing it even when you are going in clear loss.