Quote from: Fuso.hp on Today at 06:36:40 AM

Quote from: Humblevirus on December 25, 2023, 02:16:56 PM

Quote from: Fuso.hp on December 22, 2023, 06:17:21 AM

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.

Honestly, if he had invested in bitcoin, he should have been in good profit by now, but the truth is that not everyone knows about bitcoin investment; many people are just hearing about it, but I don't think they know about it as a good investment.

And again, gambling is a temptation. Someone cannot easily say this is how much they want to gamble, and when it reaches that certain amount, they will stop. Gambling is hard to control because it always comes with the hope that you will later win, especially when someone is addicted. I believe this $18k the person is owing; he did borrow it at once. I believe he was borrowing it gradually, thinking that it may recover its losses until it reaches this $18k.

I can't really say, but even if this type of person is in the cryptocurrency industry, they will still likely suffer losses like that kind of amount in gambling to scammers because of their aim of making it quickly. If not even in gambling, if some are not eager to make quick money, they cannot continue to waste that kind of money in gambling through borrowing.

Bitcoin investing is not as easy to learn about gambling as it is about gambling. While watching videos on Facebook or YouTube, it is now easy to come across tempting gambling ads and it is difficult to resist the temptation. Gambling in Bangladesh is illegal and Bangladesh is considered as a predominantly Muslim country and gambling is completely haram according to Muslim customs but still people are not deterred from gambling. If the person who got 18000 dollars in debt by gambling was asked to invest, I think he would have considered gambling more acceptable than investing because he has seen several times the profit of gambling in YouTube or various Facebook videos. If you cannot control your greed, it is not possible to get out of such gambling addiction.

Comparing Bitcoin investment to gambling is oversimplified. Risks are shared, but thats it. Investing in Bitcoin or other cryptocurrency involves strategy, market knowledge, and technology. Its about informed choices, not luck.

Social media ads' promises of instant gambling riches are risky. It exploits greed by promising easy fortune. In contrast, Bitcoin investing requires patience, discipline, and long-term thinking. Gambling's quick enjoyment traps people into financial disaster, as witnessed with the debtor.

We must educate and empower. We must educate people about Bitcoin and financial strategies. Financial literacy, knowing risks, and making decisions that reflect values and long-term goals are key. Dont demonise Bitcoin because of a few misguided people.