Does bitcoin dump have any impact on gamblers ? - page 11.

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Quote from: uneng on July 03, 2022, 01:07:52 PM

Quote from: wxa7115 on July 03, 2022, 12:52:05 PM

However for those which are only interested in gambling in general and that are using cryptocurrencies because they want to gain some privacy back, then a drop in the market can be very difficult to accept, as even if they had a good session and earned money it is entirely possible they lost some money when it comes to the fiat value of their coins.

It will be a big issue if this kind of gambler is surprised by a sudden fall in bitcoin price, which can happen in few minutes without previous warnings or signals, preventing us from preparing ourselves for this moment and avoiding a gambling session during a high volatile market. Then I fear there is nothing they can do besides cashing out their money with relative losses or waiting until bitcoin recovers, what can take several months or few years yet.

Another option is to gamble with stablecoins or altcoins which present less volatility in price. This way, it can be an opportunity to grow your bitcoin holdings after a gambling session, because when btc loses value, you will be able to swap more coins of another kind to bitcoin after the crash.

gambling is an addiction and the gamblor have to play no matter what.. the rise and the fall is definitely an issue in gambling.
For those who are high roller and plays big bets of course the dip is a real issue.

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Quote from: wxa7115 on July 03, 2022, 12:52:05 PM

However for those which are only interested in gambling in general and that are using cryptocurrencies because they want to gain some privacy back, then a drop in the market can be very difficult to accept, as even if they had a good session and earned money it is entirely possible they lost some money when it comes to the fiat value of their coins.

It will be a big issue if this kind of gambler is surprised by a sudden fall in bitcoin price, which can happen in few minutes without previous warnings or signals, preventing us from preparing ourselves for this moment and avoiding a gambling session during a high volatile market. Then I fear there is nothing they can do besides cashing out their money with relative losses or waiting until bitcoin recovers, what can take several months or few years yet.

Another option is to gamble with stablecoins or altcoins which present less volatility in price. This way, it can be an opportunity to grow your bitcoin holdings after a gambling session, because when btc loses value, you will be able to swap more coins of another kind to bitcoin after the crash.

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Quote from: panjul07 on July 03, 2022, 12:21:25 PM

Quote from: seoincorporation on July 03, 2022, 11:52:10 AM

Quote from: ethereumhunter on July 03, 2022, 02:52:09 AM

That's because gamblers just want to gamble without thinking about how the market moves. They focus on the game while they are aware of using more money if they use bitcoin to gamble. But they were okay with the dump because they wanted to gamble anyway. As long as they can still gamble, they will continue to do so but if they start to run out of money to gamble, that will have an effect on them and not because of the dump that has occurred in the bitcoin price.

I do not agree with you, gamblers keep an eye on the markets, and that is part of the gambling, since the moment when we put our money on bitcoin we have a bump and dump risk. And that's why I think gamblers always watch the market.

And the fact that we can get more bitcoin with the same amount of money from some months ago, makes gamblers play more because this is the right time to win big.

You are right that gamblers who use btc are also watching the market movement but the question is, are they ready for such a crazy movement especially when it goes down?
Not all btc gambler are also holder as most gamblers are willing to make profit from the gambling session only, so they may not be able to make profit if the price is down significantly when they finish their gambling session although in fact they lets say managed to double their bankroll.

You are bringing an interesting point, since I am a bitcoin holder to me it is not much of a problem if the price of bitcoin begins to go down, as I am way more interested in the amount of bitcoin I am holding than its fiat price, even if that is important too.

However for those which are only interested in gambling in general and that are using cryptocurrencies because they want to gain some privacy back, then a drop in the market can be very difficult to accept, as even if they had a good session and earned money it is entirely possible they lost some money when it comes to the fiat value of their coins.

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Quote from: seoincorporation on July 03, 2022, 11:52:10 AM

Quote from: ethereumhunter on July 03, 2022, 02:52:09 AM

That's because gamblers just want to gamble without thinking about how the market moves. They focus on the game while they are aware of using more money if they use bitcoin to gamble. But they were okay with the dump because they wanted to gamble anyway. As long as they can still gamble, they will continue to do so but if they start to run out of money to gamble, that will have an effect on them and not because of the dump that has occurred in the bitcoin price.

I do not agree with you, gamblers keep an eye on the markets, and that is part of the gambling, since the moment when we put our money on bitcoin we have a bump and dump risk. And that's why I think gamblers always watch the market.

And the fact that we can get more bitcoin with the same amount of money from some months ago, makes gamblers play more because this is the right time to win big.

You are right that gamblers who use btc are also watching the market movement but the question is, are they ready for such a crazy movement especially when it goes down?
Not all btc gambler are also holder as most gamblers are willing to make profit from the gambling session only, so they may not be able to make profit if the price is down significantly when they finish their gambling session although in fact they lets say managed to double their bankroll.

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Quote from: ethereumhunter on July 03, 2022, 02:52:09 AM

That's because gamblers just want to gamble without thinking about how the market moves. They focus on the game while they are aware of using more money if they use bitcoin to gamble. But they were okay with the dump because they wanted to gamble anyway. As long as they can still gamble, they will continue to do so but if they start to run out of money to gamble, that will have an effect on them and not because of the dump that has occurred in the bitcoin price.

I do not agree with you, gamblers keep an eye on the markets, and that is part of the gambling, since the moment when we put our money on bitcoin we have a bump and dump risk. And that's why I think gamblers always watch the market.

And the fact that we can get more bitcoin with the same amount of money from some months ago, makes gamblers play more because this is the right time to win big.

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Quote from: Dart18 on July 01, 2022, 11:33:52 AM

Quote from: hahay on July 01, 2022, 09:47:22 AM

Basically, if the gambler has won and then the profits are still kept, then of course the decline in the price of bitcoin has a very bad impact. But if gamblers are just starting out at prices that are indeed on a downturn, I think they'll still be fine if they just gamble not for a quick profit. Unless the gambler is targeting to get a quick profit when the bitcoin price is down, then of course this is not the right thing to do.

Withdrawing in a rush. It could happen for those who just earned their money thru bonuses. Like one player who did a faucet and somehow got lucky and made it 100x the amount. They will be the one affected by this sudden dump in the Bitcoin price.
But for old users, this is nothing. They can keep their money in a gambling site and just play through avoiding the low exchange rate while they are still enjoying the game. I think the answer depends on the situation especially if someone badly need to withdraw it for emergency purposes.

But if he only wins through bonuses then I don't think it will be a problem either because after all, he doesn't spend a lot of capital to gamble because he relies on the faucet in question. Withdrawing immediately will still make him profit even if the bitcoin price is down, unless he gambles with personal money and then wins but unfortunately, at the same time the price is down then his winnings don't mean much although there may still be profits to be pocketed.

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Quote from: qwertyup23 on July 02, 2022, 08:29:55 AM

Quote from: virasog on June 13, 2022, 10:15:50 AM

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

I do not think so but the impact could be on the amount of BTC they can wager.

Obviously, as the prices of BTC start to go down, more and more BTCs would be circulated to reach the current value they must bet. But people who bet using BTC at this time should definitely consider the investment aspect of it given that its price may reached another ATH of $60,000 within the next couple of months or even by next year. That is why, I always advise people to gamble using dollars or fiat instead of using cryptocurrencies.

This could be true if the bettor puts his bet only with BTC, but I see that the big part of bettors converts instantly his USDT into BTC, puts his bet in, and then withdraw. So, in my opinion, this should be the best strategy

for bet in this period, because with dump many person has lost a lot of money.

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Quote from: Ziskinberg on July 02, 2022, 08:25:44 AM

Quote from: wiss19 on July 02, 2022, 07:52:43 AM

It's not about being an old or a new player but it's about how your playstyle was. If you are playing mainly for the profit then a dump in the price can greatly affect you. If you lose you will feel that you lose a lot but if you win you will feel that your winnings have gotten smaller.

That's not a huge problem because not all the time the price of bitcoin will dump, there are also times that it will pump, so if we look at the big picture, the risk and benefit is only leveled to 50/50, which means there's less effect for gamblers if there's a dump.

That's because gamblers just want to gamble without thinking about how the market moves. They focus on the game while they are aware of using more money if they use bitcoin to gamble. But they were okay with the dump because they wanted to gamble anyway. As long as they can still gamble, they will continue to do so but if they start to run out of money to gamble, that will have an effect on them and not because of the dump that has occurred in the bitcoin price.

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Quote from: Dart18 on July 01, 2022, 11:33:52 AM

Withdrawing in a rush. It could happen for those who just earned their money thru bonuses. Like one player who did a faucet and somehow got lucky and made it 100x the amount. They will be the one affected by this sudden dump in the Bitcoin price.
But for old users, this is nothing. They can keep their money in a gambling site and just play through avoiding the low exchange rate while they are still enjoying the game. I think the answer depends on the situation especially if someone badly need to withdraw it for emergency purposes.

This is like how investors of Bitcoin will be, it is for the traders and also holders. The holders will be no matter if the price of Bitcoin is dropped or not. Because thy always think that 1BTC is still 1BTC, and the belief of BTC can rise up and touch a certain rate in the future as they expect.
As also gamblers do, if they are only willing to get the rewards for cashing out instantly, they will be surprised because of the sudden drp. This will really give influence because they should get certain $$$ but because of the drop, they can only cash out certain $$

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Quote from: ForMeritt on July 02, 2022, 03:03:26 AM

Quote from: passwordnow on July 01, 2022, 06:23:37 PM

The relation of it will depend on how much he has bought that bitcoin on his account. If it's during the high and he's got stuck there with 1 bitcoin, it matters a lot to that gambler. He can withdraw it and still get 1 bitcoin but the current price of it matters because it's no longer the same as high as it was during his purchase. That's the actual matter of it but if a gambler uses most of the time altcoins, then there's also the same relation on it but there is the feeling on how easier it is to gamble with those.

Maybe those who gambled using Bitcoin he bought it at the high Bitcoin price at that time, and maybe he did it because he saw the Bitcoin price was going down.

And in my opinion there is no need to gamble and bet using your Bitcoin, it is very ineffective to do, it is better if you want to gamble bet with the dollars you have or with other altcoins even though now the market is down as well as the price of the altcoins, this is not too hard to do when compared to risking Bitcoin, don't just because the price of Bitcoin is decreasing don't let you be fooled by this.

We all have decisions to make and even if you've bought the bitcoin you have at a high price, you can still use it at any price you want and when gambling cravings hit you. Then, you have to spend as much as you can and the price won't matter to you anymore.
I'm just applying what I think of gambling with bitcoin and if it's good for me to spend it then the price won't be a thing or two. I'll just use it if I want to and that's going to be a big problem to me.

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Quote from: virasog on June 13, 2022, 10:15:50 AM

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

I do not think so but the impact could be on the amount of BTC they can wager.

Obviously, as the prices of BTC start to go down, more and more BTCs would be circulated to reach the current value they must bet. But people who bet using BTC at this time should definitely consider the investment aspect of it given that its price may reached another ATH of $60,000 within the next couple of months or even by next year. That is why, I always advise people to gamble using dollars or fiat instead of using cryptocurrencies.

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Quote from: wiss19 on July 02, 2022, 07:52:43 AM

It's not about being an old or a new player but it's about how your playstyle was. If you are playing mainly for the profit then a dump in the price can greatly affect you. If you lose you will feel that you lose a lot but if you win you will feel that your winnings have gotten smaller.

That's not a huge problem because not all the time the price of bitcoin will dump, there are also times that it will pump, so if we look at the big picture, the risk and benefit is only leveled to 50/50, which means there's less effect for gamblers if there's a dump.

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Quote from: Dart18 on July 01, 2022, 11:33:52 AM

Withdrawing in a rush. It could happen for those who just earned their money thru bonuses. Like one player who did a faucet and somehow got lucky and made it 100x the amount. They will be the one affected by this sudden dump in the Bitcoin price.
But for old users, this is nothing. They can keep their money in a gambling site and just play through avoiding the low exchange rate while they are still enjoying the game. I think the answer depends on the situation especially if someone badly need to withdraw it for emergency purposes.

The coins they currently have, didn't came straight to their pockets, I mean they didn't deposit anything to win/obtain those cryptos so why will they regret or feel bad when the price suddenly dips? The price can dip but there is always a chance that it will recover so they cant opt to hodl their coins for a while if they feel that they will lose something once they sold it.

It's not about being an old or a new player but it's about how your playstyle was. If you are playing mainly for the profit then a dump in the price can greatly affect you. If you lose you will feel that you lose a lot but if you win you will feel that your winnings have gotten smaller.

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Quote from: Davidvictorson on July 02, 2022, 06:56:51 AM

Quote from: Renampun on July 02, 2022, 03:02:28 AM

the reason for the volatility of bitcoin that makes me only play gambling on sites that provide their own tokens like betfury...

In my opinion the dump affects everything. No industry is left out. So yes, the gambling industry is affected as well. It is definetly going to be affected by volatility and other external forces. It would have been a good thing if we have more casinos with their tokens because that would help mitigate the effect of bitcoin dump. I don't think we have enough of those though.

Dump but not collapse, we've seen many dumps in the past but it turns out it's just normal in the crypto space. Why people like to invest in crypto is because of its high volatility, and despite of the dump, these people will not panic anymore because they are optimistic that the market will recover, so that's the same mentality gamblers have.

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Quote from: Renampun on July 02, 2022, 03:02:28 AM

the reason for the volatility of bitcoin that makes me only play gambling on sites that provide their own tokens like betfury...

In my opinion the dump affects everything. No industry is left out. So yes, the gambling industry is affected as well. It is definetly going to be affected by volatility and other external forces. It would have been a good thing if we have more casinos with their tokens because that would help mitigate the effect of bitcoin dump. I don't think we have enough of those though.

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Quote from: passwordnow on July 01, 2022, 06:23:37 PM

The relation of it will depend on how much he has bought that bitcoin on his account. If it's during the high and he's got stuck there with 1 bitcoin, it matters a lot to that gambler. He can withdraw it and still get 1 bitcoin but the current price of it matters because it's no longer the same as high as it was during his purchase. That's the actual matter of it but if a gambler uses most of the time altcoins, then there's also the same relation on it but there is the feeling on how easier it is to gamble with those.

Maybe those who gambled using Bitcoin he bought it at the high Bitcoin price at that time, and maybe he did it because he saw the Bitcoin price was going down.

And in my opinion there is no need to gamble and bet using your Bitcoin, it is very ineffective to do, it is better if you want to gamble bet with the dollars you have or with other altcoins even though now the market is down as well as the price of the altcoins, this is not too hard to do when compared to risking Bitcoin, don't just because the price of Bitcoin is decreasing don't let you be fooled by this.

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Quote from: kamvreto on July 02, 2022, 12:45:48 AM

Quote from: passwordnow on July 01, 2022, 06:23:37 PM

Quote from: molsewid on July 01, 2022, 12:20:21 PM

...

Not only using or other altcoins, but those gamblers who gamble on a special platform will use the Platform Token as payment. The impact when the market crashes as it is today will certainly affect the value of bitcoin or altcoins used.
even bitcoin or gambling investors are affected.
this is indeed a risk, but when the price starts bullish everything will be fine.

the reason for the volatility of bitcoin that makes me only play gambling on sites that provide their own tokens like betfury...

I prefer to use bitcoin as an investment only!

from the beginning, I noticed that the price movement of the BFG token was very stable (and not so affected by the market) which made me not really think about the volatility of the crypto market.

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Quote from: passwordnow on July 01, 2022, 06:23:37 PM

Quote from: molsewid on July 01, 2022, 12:20:21 PM

You are right, it will only affects him if he will going to withdraw it. But as long as it is still in his wallet, there's no problem on it. In terms of the figures, if he has an asset in bitcoin it will be the same but the value will change. Most of the gambler I knew are using doge instead of btc,but it's all depends on the gambler if he really needs to convert it to usdt or fiat.

The relation of it will depend on how much he has bought that bitcoin on his account. If it's during the high and he's got stuck there with 1 bitcoin, it matters a lot to that gambler. He can withdraw it and still get 1 bitcoin but the current price of it matters because it's no longer the same as high as it was during his purchase. That's the actual matter of it but if a gambler uses most of the time altcoins, then there's also the same relation on it but there is the feeling on how easier it is to gamble with those.

Not only using or other altcoins, but those gamblers who gamble on a special platform will use the Platform Token as payment. The impact when the market crashes as it is today will certainly affect the value of bitcoin or altcoins used.
even bitcoin or gambling investors are affected.
this is indeed a risk, but when the price starts bullish everything will be fine.

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Quote from: molsewid on July 01, 2022, 12:20:21 PM

You are right, it will only affects him if he will going to withdraw it. But as long as it is still in his wallet, there's no problem on it. In terms of the figures, if he has an asset in bitcoin it will be the same but the value will change. Most of the gambler I knew are using doge instead of btc,but it's all depends on the gambler if he really needs to convert it to usdt or fiat.

The relation of it will depend on how much he has bought that bitcoin on his account. If it's during the high and he's got stuck there with 1 bitcoin, it matters a lot to that gambler. He can withdraw it and still get 1 bitcoin but the current price of it matters because it's no longer the same as high as it was during his purchase. That's the actual matter of it but if a gambler uses most of the time altcoins, then there's also the same relation on it but there is the feeling on how easier it is to gamble with those.

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Quote from: erep on July 01, 2022, 12:58:00 PM

Quote from: Dart18 on July 01, 2022, 11:33:52 AM

Withdrawing in a rush. It could happen for those who just earned their money thru bonuses. Like one player who did a faucet and somehow got lucky and made it 100x the amount. They will be the one affected by this sudden dump in the Bitcoin price.

The lucky gambler hits the big jackpot then he doesn't care about the market price and he immediately makes a hasty withdrawal to buy what they have been craving for a long time but if he is an active community of traders or gamblers then half will still keep BTC for asset reserves.

When a gambler can hit a big jackpot, he needs to withdraw that winning money and not use it to play just to try to hit another big jackpot.
This may not have anything to do with market price movements but more to protect yourself from overusing your funds after getting a win.
A drop in the market price will make us use more satoshi, whether in bitcoin, ethereum, bnb, or other coins.
But, gamblers are not worried about this problem because they only want to gamble without considering the price.

Topic: Does bitcoin dump have any impact on gamblers ? - page 11. (Read 3186 times)