Gambling vs. Trading: My experience in losing big and winning big
Dear Steemers, today I am writing about a subject that I have battled with for over a year.
I have been investing in Cryptocurrency since January 2016 and I can say I have learned way more from my experience than I bargained for. I am more ready than ever to not make the same mistakes again. One of the biggest traps I have fallen into is gambling on Bitsler.win
I have previously been an advocate for this site because there are several methods out there that guarantee some profit as long as you don't get greedy. Sadly, it is really hard to predict what happens in gambling because the odds seem to generally be against you. I have won really big amounts of money but I have ended up losing more than I expected on a dice game that everyone seems to want to beat.
I had completely stopped gambling on Bitsler for about 6 months as of October 2016. Since then, I have focused my energy on learning more about reading charts and I have been actively trading and making pretty nice profits.
UNTIL.....
I came back to Bitsler.
Yesterday, I was tempted once again by this beast, and invested more than I should have playing with DOGE.
I learned once again, that unless you go in, make a profit and leave, you are bound to lose your entire bankroll. This is a mistake I will never make again, and I would advise that any of you who want to gamble, DONT DO IT.
LEARN HOW TO TRADE INSTEAD
Learning how to trade cryptocurrency is far better than trying to beat a system which is way more against you than the market. Yes, the market takes practice to tame, but with a good trading plan, you will cut your losses short and make steady profits over time. The amount of profitable traders far exceeds the amount of people beating casinos. I have figured that you can make WAY more money just learning how to trade your coins.
This is why I am redirecting my energy to learn even more about trading and not messing with gambling sites unless I am filthy rich and have nothing better to do.
I will be resuming my Cyclical trading series ASAP, and will possibly be doing some live trading videos for anyone who wants to learn on a more interactive level.
I currently follow HighAltitudeInvesting on Youtube. I would recommend that you watch and join the Discord chat for some really great insight that has taken my trading to the next level.
Peace out and may the odds with with you.
Had to learn that as well, luckily before I lost money, actually even earned the money for starting and learning how to trade. Good post, thank you!
Yep, I learned this the hard way. NEVER GAMBLE WITH CRYPTO. The house always wins. I did almost double my DOGE a few years back but it's never worth it. You get too full of yourself and always lose. Thanks for this post, was a good read.
Yep, for me it is really easy to lose control so i have vowed to never gamble my coins again. I may go to vegas and throw down money on some fun games in the future, but not crypto. They say the site is provably fair, but there are so many instances where its clearly not. The way people are making money if with referrals. Since I made a video last year, I have accumulated 68 referrals and about 400 dollars. Of course, I blew it all trying to make more. If I was a scammer, I would keep videos about how to make money on Bitsler and just keep getting more referrals, but I just want to trade now.
Thanks for reading! Ill see you around.
I read that Ethereum will improve crypto gambling a lot - since smart contracts are viewable by anyone you see whatever happens on the other side (such as "Etheroll"). Nevertheless, I won't be going back ;)
I saw your post about Bitsler some month ago and was very skeptical. But i need to test, to prove that gambling doesn't work. No strategy or backdoor trick in the internet works. You can gamble have a win and then go, but in the long run you lose everything. Trading is not gambling. If you have good insides about the market you can very good predict whats gone happening in short time.
This is my post about my experience with you and the Bitsler site.
https://steemit.com/steemit/@justoneartist/the-game-can-you-make-money-from-gambling
Stay way from crypto gambling, this sites are making a huge amount of money right now. And the only thing that they want is your money.
Better learn sooner than later right? I don't know what got into me to try it again but never ever doing it again.