BTC Fluctuations Effects Gamblers and Casino that uses USD($) upon deposit

bittraffic

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5-10% daily fluctuations is more significant for traders than gamblers than the big BTC holders that gambles in casino. It is however significant for small time holders like me if 5% in USD value to their BTC which some would panic to convert in USD.

As an occasional gambler, I'm looking more into trading than gambling for now since there is a chance of pump. One effect could be that gamblers will turn to trader. Cheesy

Kemarit

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Quote from: n0ne on June 18, 2022, 08:17:34 PM

Unlike the price fluctuation I prefer spending on terms of bitcoin. I keep hold in terms of bitcoin and spend in terms of bitcoin. When we calculate what we've lost in comparison to the ath value it'll be big, but according to the present market it is small. Also whether it is playing with bitcoin/USD the outcome is upon your luck. What we spend in terms of BTC will be helpful if we have got the ability to hold. With most of the gamblers this won't happen, because someday it gets lost. Angry

Yeah, same here BTC=BTC. But sometimes you ponder if you deposit too much and then lost that big and if you just hold on it.

. So I guess there could be gamblers that might have this kind of mindset. But gamblers will be gamblers, so regardless what will be the value in Fiat or Bitcoin, they will continue with their habits and maybe regret or at least something to consider when you to go sleep and think about what happen in your online play.

crwth

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I don't think it would matter a lot to them knowing that they will deposit into a casino in which they automatically convert your BTC to USD. As for the BTC fluctuations that happen when you have BTC and you didn't withdraw it during the high times, you will probably worry about it. It's better if you focus on one asset and stick to it and don't get too much affected by the fluctuation in the price unless that's what you are aiming for. You also like trading if you want to take advantage of the prices.

n0ne

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Unlike the price fluctuation I prefer spending on terms of bitcoin. I keep hold in terms of bitcoin and spend in terms of bitcoin. When we calculate what we've lost in comparison to the ath value it'll be big, but according to the present market it is small. Also whether it is playing with bitcoin/USD the outcome is upon your luck. What we spend in terms of BTC will be helpful if we have got the ability to hold. With most of the gamblers this won't happen, because someday it gets lost. Angry

ralle14

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It's definitely a relief if you're playing on a crypto casino that immediately converts your BTC to USD as these significant price changes won't affect you compared to the others that have been playing with a pure crypto balance. If you're on the other side you'll be forced to wait even longer but it still depends on the situation because not all gamblers would quickly pull out their coins from crypto casinos. It's just unfortunate for certain gamblers who are planning to exchange their money at this time since this is one of the worst time for it.

uneng

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It's not a big issue since they avoid betting on days bitcoin is heavily volatile while not keeping funds in cryptocurrency they are going to need soon. Gamblers need to wait the market to stabilize a little bit until they can play using crypto again, that is the safest approach, I guess. Otherwise they might see the profit made from bets completely melting due to the market crash.

Personally, I don't bother about the fluctuations and crashes because I think primarily on long term returns from bitcoin. The prices are falling sharply right now, as are my profits, but I'm not in a hurry, so I can wait they recover until I cashout profit.

livingfree

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Those that have bought it at a lower price than it is today won't be problematic with the drop. But honestly, this is a huge drop that we've got and let's say those who have bought $40k and up, they're in huge loss already.

But those that look at the perspective of 1BTC =1 BTC, this won't be a thing to them and they'll still going to deposit as much as they want and won't consider any amount of the plummet as long as it's the same cryptocurrency.

And any amount they do, they're looking at its own value and not with the converted one. Well, to me, it's a matter to look at its conversion before doing it.

Oshosondy

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Quote from: Harkorede on June 18, 2022, 03:10:41 PM

I know quite a number of them that converts to USD value of btc upon deposit, Roobet and Duelbits to mention a few, but withdrawals are in allowed cryptos of your choice but are valued at current USD value as at time of withdrawal, but incase of users who probably prefer to withdraw perhaps on weekly or few days basis after a few series of bets for the week, and a few days is more than enough for a significant fluctuation.

There are still few of them I still noticed like Betnomi and some other gambling site that their campaign is managed by Hhampuz and yahoo62278. I prefer gambling sites that converted the money to dollar, but it still depends. If the bear market is over, I can still like a gambling site that I can just deposit bitcoin directly. But I have preferred the money to be in fiat than crypto though. I prefer to have crypto dealing while trading on exchange instead.

Doell

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Of course, you're right not everyone will feel comfortable at the current price. For now, I personally don't feel very comfortable when I want to bet at a casino that converts directly to usd/other local currency, because it has an impact on value of my money. But happy for those gamblers who still have a balance in a casino like that, when withdrawing Bitcoin that reveived at their wallets will be a lot like investing in general.

Harkorede

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Quote from: jackg on June 18, 2022, 12:41:36 PM

I'd expect they'd be quite happy with it for now though (while it's going down) I haven't heard of a crypto casino using dollars exclusively and now allowing btc usage.

I know quite a number of them that converts to USD value of btc upon deposit, Roobet and Duelbits to mention a few, but withdrawals are in allowed cryptos of your choice but are valued at current USD value as at time of withdrawal, but incase of users who probably prefer to withdraw perhaps on weekly or few days basis after a few series of bets for the week, and a few days is more than enough for a significant fluctuation.

dothebeats

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While I personally have my own investments on crypto, specifically bitcoin, I do not really care about it dropping down as those are meant for the long term. Bought it when the price is already going down just last week and it's nonsense to sell at a loss. But when it comes to my 'play' money, I am more than happy to buy a tanking bitcoin for longer hours of play time at the casino. My finances are already separate, so I don't confuse myself that much when it comes to holding or using my bitcoin even in this bear market.

jackg

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https://bit.ly/387FXHi lightning theory

I'd expect they'd be quite happy with it for now though (while it's going down) I haven't heard of a crypto casino using dollars exclusively and now allowing btc usage.

If you miss a bottom there's usually a good chance we'll end up near it again, it'll be interesting to see if this sort of setup has caused both panic buying and panic selling in the past though if the users of those places have kept away from checking the price for long enough.

Harkorede

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Just as the title indicates, what impact does the current have on you or do you think it will have on bettors that uses USD value as the native currency of their platform, If you're a BTC Holder let's say from as early as January this when it was around $47,000+, I'm sure you'll be aware of the current value being around $19,000, now that brings me to my question, I'm sure every body will comfortable with their 0.1BTC being 0.1BTC, but not everyone will feel comfortable with the BTC being value $1.9k especially when you don't get to be withdrawing every now and immediately after every bet and it feels like a race against time, as no one could tell when there could another be up trend in the value, I'm speaking from the bettors perspective, because I've not had the opportunity to get close to a bookies operations well enough to know how they feel in this case, but I can presume they'll have enough in liquid for both case scenario and they'll would always have time on their side for when there is another bull run.

I'd love insight from the big bettors whom a 5-10% daily fluctuations would be significant enough for them.

Topic: BTC Fluctuations Effects Gamblers and Casino that uses USD($) upon deposit (Read 113 times)