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.
Such person is not thinking too well to borrow such a huge amount of money just because he wanted to gamble, however I am not supporting the fact that people should borrow money and invest into Bitcoin but I wish he borrowed the money and invested them into Bitcoin it could have been more better than just using them to gamble.
At least, if he used the money he borrowed to invest into Bitcoin and hold them for long, a day will definitely come when he will gain some good profits, even though getting profits from investment isn't guaranteed, but there is a high hope that if he hold them for more than 10 years, he will get a good interest from the investment. So truth be told that using loan money to gamble and invest in not good but there is one that can be more safer than the other.