Lottery Vs Bitcoin
As people are in pursuit of a better life through the acquisition of material things, several opportunities to make money have been initiated to meet end users’ needs. These platform opportunities are in competition to acquire enormous users to their platforms and are thriving to offer the best user experience.
However, we expect to witness more established material acquisition platforms in near future due to man’s insatiable quests for material goods. The incessant urge to purchase lottery by its players and the inconsistent bitcoin price are the fascinating aspects of these material acquisition practices.
To set the records straight, here are the 3 facts between lottery and bitcoin:
Lottery is irrational: A plethora of studies found that lottery is irrational due to some attached superstitious belief the players commonly have which may have no impact to either winning or losing. Lottery buyers kept buying lottery because they believe that the more they buy lottery, the more their chances of winning improve.
Lottery is addictive: It is addictive, meaning that the chances of losing more money over a series of loss are feasible. A plethora of studies also found that lottery is addictive. Due to the reassuring nature of winning someday after a series of loss, one keeps buying lottery at (100 baht) a week with the hope of one day hitting a big (50k+ baht) win.
Lottery is a potential risk: Following lottery mathematical combinatorics, the probability of winning a lottery is 1 over a thousand of times. The probability of 50–50 chance of winning is 1 in a million years. In a situation where one spends 100 baht on a weekly basis to reach the possibility of reaching 50–50 chance lottery in 1.5 million years would cost 7.8 billion baht. The possibility is unlikely. Does it seem logical? A resounding no.
Buyer decision power: There are two investment options to buying bitcoin as mentioned in the previous article. The options vary depending on the investor’s preference — to invest for short term purposes or to invest for long term purposes. In each of the options, contains the possibility to make profits, depending on which side of the market the price falls, either in bullish market or bearish market.
Day trading: The technicality of day trading works like this: To earn money, one can day trade bitcoin on various exchanges such as Bitkub.com, or OKex — to buy at a low price and sell at a high price. This method is lucrative because crypto market can fluctuate in a day.
Buy and Hodl: Bitcoin is also a transparent platform for investors to study the price in CoinMarketCap. One of the ways to earn money using bitcoin is to buy and hold it until it is time to sell. For example, if one buys and holds it for a longer term, the price is bound to appreciate over the EUR, USD, GBP etc. The nature of profiting on bitcoin is simple, when the selling price is more than the buying price, it becomes profitable. But when the selling price is less than the buying price, it becomes a loss. The good thing about it is that the investor can decide when to sell it, irrespective of price fluctuations. It is up to the buyer to think whether to sell it when the price falls or wait for the price to rise in order to capitalize on it. The platform also allows investors to know the trading volume of the crypto coin in the market.
As lottery can be purchased with a minimum amount of money, bitcoin can also be purchased with the same minimum amount of money. A good business and money driven person should make good decisions that would yield lucrative results. The facts presented above are evident enough to suggest that one of the above acquisition material platforms pays.
Think twice before deciding. The ball is in your court.
Which one would you buy? Lottery or Bitcoin?
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