bitcoincambodia.com review

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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

SternAAlbifrons wrote:
Nicolas wrote: Sun Dec 01, 2019 3:52 pm Anyway I’m totally convinced it’s not too late to invest.
Nic, i get the value of Bitcoin for quick transactions.
But "invest"?

Don't you think that holding on to them for any period should more correctly be described as "gambling"?
It seems to well and truly cross that undefined, but still very real, line.

'Nothing against gambling, i occasionally have a tiny plunge on something myself.
But i would be deluding myself if i called it investing. And possibly deluding others less knowledgable.
That's how dumb people get suckered into loosing their lifesavings- honestly believing they are "investing" because somebody "smart" told them it was.
Not really different than buying Apple, Microsoft or Nokia shares. You invest (or gamble) in a company believing your shares will gain value over time.
Sometimes it works, sometimes giants like Nokia fails and you lose your savings.

Can Apple lose 50% of their market value over the next years? Unlikely. Can Apple gain 10 times their value over the same period? Unlikely too.

Bitcoins? Everything is possible. Supply is limited and it’s all a matter of offer and demand. Just like gold.
Your $1000 gamble/investment can turn into $500, $2000, $10.000, $20.000, more? Nobody can say.



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SternAAlbifrons
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Re: bitcoincambodia.com review

Post by SternAAlbifrons »

You seem to be drawing no line between investing and gambling.
I think there is, although hard to define.

no big deal - just a minor academic discussion point.

For me an "investment" would require me to have a strong belief that the value would probably rise.
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Re: bitcoincambodia.com review

Post by Bubble T »

Entire books and legal frameworks have been written on the legal and practical difference between gambling and market trading, and whether such differentiation is even warranted in the first place. To some extent or another every action you take in life can be considered gambling, as can the actions you choose not to take.

In any case it isn't a crypto specific point. Values of things go up and down relative to overall markets regardless of the market you're in.
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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

SternAAlbifrons wrote:You seem to be drawing no line between investing and gambling.
I think there is, although hard to define.

no big deal - just a minor academic discussion point.

For me an "investment" would require me to have a strong belief that the value would probably rise.
You are right, there is a difference between gambling and investing.
I would say when your decision is based on logic, probabilities, patterns and data, it’s an investment.



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Re: bitcoincambodia.com review

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Phnom Poon
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Re: bitcoincambodia.com review

Post by Phnom Poon »

The thing that fooled us all for a while, myself included, is that we all thought bitcoin was solving a monetary or payments problem. It was labelled a coin, after all,
. . .
What is now apparent is that bitcoin was never a monetary phenomenon. No, bitcoin is a new sort of financial betting game. It is a digital, global, highly-secure, and fairer version of the old-fashioned chain letter.
http://jpkoning.blogspot.com/2019/11/bi ... rs-in.html

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Phnom Poon
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Re: bitcoincambodia.com review

Post by Phnom Poon »

Nicolas wrote: Mon Dec 02, 2019 1:19 pm I would say when your decision is based on logic, probabilities, patterns and data, it’s an investment.
almost the definition of what speculators do
it's a fuzzy distinction but to me investing is putting money into something to help it grow, preferably something in the real economy
if you're 'investing' to catch a wave of other 'investors' then it's speculation
Last edited by Phnom Poon on Wed Dec 04, 2019 10:23 pm, edited 1 time in total.

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Terry Fishsauce
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Re: bitcoincambodia.com review

Post by Terry Fishsauce »

I'm getting murdered by fees for using my UK bank card taking out money in Cambodian ATMs. There are ATM fees, my banks forex fees and also my bank fucks me on the exchange rate too. I think to take $500 out of the machine costs me around $30 all up.

Can btc fix my problem? Is it simple to buy some bitcoin in the UK then cash it in here in cambo? If so can someone walk me through how I would do that?
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Nicolas
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Re: bitcoincambodia.com review

Post by Nicolas »

Terry Fishsauce wrote:I'm getting murdered by fees for using my UK bank card taking out money in Cambodian ATMs. There are ATM fees, my banks forex fees and also my bank fucks me on the exchange rate too. I think to take $500 out of the machine costs me around $30 all up.

Can btc fix my problem? Is it simple to buy some bitcoin in the UK then cash it in here in cambo? If so can someone walk me through how I would do that?
There are other ways!
www.xoom.com
www.revolut.com
www.transferwise.com
www.worldremit.com



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Re: bitcoincambodia.com review

Post by DaveG »

Image

Now that's what I call cashing out !!!!
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