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describes the sense that the economic system no longer rewards prudence or long-term planning.

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I don't necessarily dispute most of this but I'll dispute this thought at least to some degree. It just takes time and discipline, as in many years, and many younger people simply don't have the patience for it.

Flip side of that is if they think the whole thing is going to come crashing down anyway so why throw money at a system that is going to crash in their lifetime. Hard to argue against that if that is someone's reasoning.

AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

I am always conflicted between investing and gambling. Sometimes they feel the same to me.

Pumpkinhead said:

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AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

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That doesn't mean crypto (or equities/ETFs) and gambling are the same thing. You decide when you sell or buy and decide when to hold a position or take a loss. It's not even remotely the same as gambling.

ThunderCougarFalconBird said:

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Good indicator is the English premier league. Around 75% of jersey sponsors are sports gambling.

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Every year we use Premier League teams for our soccer youth league jerseys. It's becoming harder and harder to find something I feel comfortable having 6-7 year olds wear that isn't promoting a random gambling site.

AozorAg said:

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Pumpkinhead said:

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AozorAg said:

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Sports gambling and frivolous gambling in general has never appealed to me or entertained me.

Bitcoin is not gambling. I've made about $350k off of Bitcoin in the last couple of years.

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Congrats on winning. Since that $350K that went into your pocket came from somebody's else pocket as Bitcoin's market value in cash heavily relies on speculation ( new cash inflow), maybe somebody who has been on the wrong end of a crypto wealth transfer exchange will also post here to provide perspective on that other side of the story

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That doesn't mean crypto (or equities/ETFs) and gambling are the same thing. You decide when you sell or buy and decide when to hold a position or take a loss. It's not even remotely the same as gambling.

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Speculative investment absolutely has a lot in common with gambling. It is no coincidence that the demographic of sports gambling and crypto investing are similar in that they both skew younger and are male-dominated.

Dopamine. It's exciting placing a wager and watching a game with money hanging in the balance.

I posted on this in the Stock market thread

this could be a REAL threat to Bitcoin

the same lonely Chinese men or the same western incels buying BTC in the past may be moving over to gambling on "events" and sports such as Kalshi and Polymarket

as you stated for the dopamine, and the "get rich quick" scheme. and it's just logistically easier to deal with gambling app than putting Bitcoin into a cold wallet storage.

making me think about selling more of my Bitcoin now!