Does bitcoin dump have any impact on gamblers ? - page 12.

erep

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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.

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.

Quote

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 majority of old users already know price movements during bear markets, so they still use betting funds to increase the number of crypto assets and are not in a hurry to convert crypto assets to USDT because the current estimate is very low, so some of them are also hunting for profits from the crypto investment side to long-term.

molsewid

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Quote from: AicecreaME on July 01, 2022, 09:40:24 AM

I believe it's a NO.

Because if a gambler bought bitcoin at any amount, it's still the same. For example, a gambler has 1 bitcoin in his account, and Bitcoin is his cryptocurrency use in gambling, the winnings he is going to receive is also in Bitcoin, to technically it does not affect him, unless he is going to withdraw the Bitcoin in his wallet that he bought @$20,000 for example and the planning to convert it in USDT but the price has dropped to $17,000, then that's a different story.

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.

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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.

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Quote from: abel1337 on June 28, 2022, 12:20:29 PM

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?

It will depend in the gambler I guess but in majority of them, I think they are pretty affected by the dump especially if they keep their gambling funds on the casino and comeback to it when they want to play. Some gamblers bought btc using fiat and expect to earn more fiat from it, Given that bitcoin dumped they are obviously on loss in terms of value. This could also put some pressure on gamblers to regain the losses on value by just winning and accumulating some btc to have a fiat value profit.

Only the gambler who are affected are the one who hold those bitcoins because of the market volatility of course a short dump will less the value of they hold unless they make a deposit to a gambling casino which is supported the rate of USD as they deposit their balance, most of the gambling platform today are now supporting different coins but still not converted in what they deposit instead they are still affected with the market volatile of price movement that's the reason why for me it is ideal to use a USD fix once they deposit because we know how much losses they got if they caught with the market crash.

hahay

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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.

AicecreaME

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I believe it's a NO.

Because if a gambler bought bitcoin at any amount, it's still the same. For example, a gambler has 1 bitcoin in his account, and Bitcoin is his cryptocurrency use in gambling, the winnings he is going to receive is also in Bitcoin, to technically it does not affect him, unless he is going to withdraw the Bitcoin in his wallet that he bought @$20,000 for example and the planning to convert it in USDT but the price has dropped to $17,000, then that's a different story.

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Quote from: harizen on June 30, 2022, 05:36:49 PM

Quote from: n0ne on June 27, 2022, 04:27:42 PM

The whale gamblers won't be affected much, but the common gamblers like you and me spending few dollars were affected, because when we spend $20 on a single bet we're risking near to 0.001BTC in today's price. If the price is around $31k then what we're risking is near to 0.00065BTC. There is a difference and this is what we say the common gamblers were affected.

At most gambling sites nowadays, there's always an option to bet on USD value worth of BTC.

When you are betting using a USD value, that $20 bet will be adjusted too.

Not unless you are betting always on a fixed BTC value, which I think is not your usual. Am I right here?

How do you place a bet? I don't see the difference between betting a $20 in $20,000 BTC value and a $30,000 BTC value. You won't feel much as what matters here is to just continue your usual betting. While placing a bet, it does not make sense for me to include that current BTC exchange rate on your mind while you are playing. It's a distraction.

you are right
but the biggest difference may be if someone accumulates bitcoin and thinks as an investor
and what is their entry price too, even if they're not investors

what do you think? most of the gamblers probably don't care about investing?

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Quote from: BobK71 on July 01, 2022, 02:02:58 AM

Gambling usually does not have a significant effect on the reduction of BTC price. If the Gamblers have not stabilized their BTC then they will be fallen in problem due to losing assets but I think they have the opportunity to earn more at that moment. They can earn fixed satoshi which can be a large amount of asset if they hold that for long time especially when btc price will be increased.

Forget about the volatility of the price, we are gambling, not trading.

We can only earn more if we win our bets, but if not, then we will lose money.
Being a gambler and a trader is an opposite thing, you cannot do both effectively because you need your focus in order to be successful, and you cannot focus on both.

BobK71

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Gambling usually does not have a significant effect on the reduction of BTC price. If the Gamblers have not stabilized their BTC then they will be fallen in problem due to losing assets but I think they have the opportunity to earn more at that moment. They can earn fixed satoshi which can be a large amount of asset if they hold that for long time especially when btc price will be increased.

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Quote from: Slow death on June 13, 2022, 11:52:55 AM

well this question is very serious and even my head has been going crazy because of it, for example in my case, there are times when I make bets and I get 50$, when the price of LTC (I hate altcoins but at stake I prefer to make bets with LTC because the minimum withdrawal amount and the withdrawal fee amount are very small values so it pays a lot to use LTC to place bets ) but back to what I was saying, when you have 15$ in the account and the price of LTC is at 50 $ for example and drops to 44$ so my 50$ in LTC becomes just 44$ in LTC i.e. I get losses of 6$ even though I haven't made any bets. every time the market starts to fall? and a nightmare for anyone who funds in altcoins or even bitcoin in casinos

That is the fact we must accept here in the world of crypto or Bitcoin Sir. because it is volatile, or ever before the price and the bad anything can rise and can also fall, then there seems to be no difference in the said that for example you have 50 $ and fall the LTC will lose 6 $ that depends on the percentage of the reduction and you are somewhat affected then you say, what if the price of LTC suddenly rises that even if you don't gamble your capital still grows, aren't you also happy when that happens?

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Quote from: harizen on June 30, 2022, 05:36:49 PM

Quote from: n0ne on June 27, 2022, 04:27:42 PM

The whale gamblers won't be affected much, but the common gamblers like you and me spending few dollars were affected, because when we spend $20 on a single bet we're risking near to 0.001BTC in today's price. If the price is around $31k then what we're risking is near to 0.00065BTC. There is a difference and this is what we say the common gamblers were affected.

At most gambling sites nowadays, there's always an option to bet on USD value worth of BTC.

When you are betting using a USD value, that $20 bet will be adjusted too.

Not unless you are betting always on a fixed BTC value, which I think is not your usual. Am I right here?

How do you place a bet? I don't see the difference between betting a $20 in $20,000 BTC value and a $30,000 BTC value. You won't feel much as what matters here is to just continue your usual betting. While placing a bet, it does not make sense for me to include that current BTC exchange rate on your mind while you are playing. It's a distraction.

You wouldnt mind because you would really just simply be adjusting on usd value per bet and if you are aware on whats the current market price of btc then you would simply made out some adjustments which is normal

for people to do so specially gamblers which i would say that they arent really that much affected when it comes to these dumping or declining market on where gamblers wont really be minding about on the investment
part.

Gamblers do spend money for their leisure on some but there are some who do aim for accumulation of more btc which they do know its still low as of this moment
and acquiring as much as they could is ideal but we know the fact or reality on dealing with gambling which is always losses.

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Quote from: n0ne on June 27, 2022, 04:27:42 PM

The whale gamblers won't be affected much, but the common gamblers like you and me spending few dollars were affected, because when we spend $20 on a single bet we're risking near to 0.001BTC in today's price. If the price is around $31k then what we're risking is near to 0.00065BTC. There is a difference and this is what we say the common gamblers were affected.

At most gambling sites nowadays, there's always an option to bet on USD value worth of BTC.

When you are betting using a USD value, that $20 bet will be adjusted too.

Not unless you are betting always on a fixed BTC value, which I think is not your usual. Am I right here?

How do you place a bet? I don't see the difference between betting a $20 in $20,000 BTC value and a $30,000 BTC value. You won't feel much as what matters here is to just continue your usual betting. While placing a bet, it does not make sense for me to include that current BTC exchange rate on your mind while you are playing. It's a distraction.

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Quote from: romero121 on June 20, 2022, 06:59:05 PM

Quote from: TopT3ns on June 20, 2022, 06:26:34 PM

I think gambling platforms don't have a big impact on bitcoin price movements because we can see that the volume of gambling is not too much and it's not always people can get wins in gambling places and very high transaction fees to send to very high gambling wallets prefer not to using bitcoin but using available altcoins like TRX or others.

Gambling platforms too gets affected when we calculate the revenue. Gamblers who spend in terms of bitcoin might move towards spending in terms of USD considering the price drop. This will lower the spending. From withdrawal fees the gambling houses might get an additional revenue. It is the small gamblers who are affected much, because even a loss of $10 will be very big considering the price.

Yes, in general, some players lose out, but seeing the conglomerate, some can take advantage of this disorder to move BTC, that is, for casinos that change their fees through price, it will be easier to transact with BTC and those that have altconis It will be a great opportunity to make new bets with altcoins that are worth very little, so it is possible that they put those altcoins at stake, they know that if they multiply them at the time that bitcoin recovers its price, these altcoins will be or they will have a big bullish momentum, some can give predictions up to 3x or more.In this sense, when we see that mushroom is a way to take advantage of it, I don't know if the players see it that way, but I know that many whales do.

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Quote from: gagux123 on June 28, 2022, 10:41:26 PM

Quote from: Lucasgabd on June 28, 2022, 12:12:51 PM

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Quote from: Cookdata on June 28, 2022, 10:16:37 PM

(...)

<..>

I often find it quite interesting how each person sees things by a different point of view
really proves the fact Hayek stated, that "knowledge is distributed in society", so one individual won't know more than the sum of many

gagux123

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Quote from: Lucasgabd on June 28, 2022, 12:12:51 PM

(...)

Quote from: Cookdata on June 28, 2022, 10:16:37 PM

(...)

Well guys... what you said is something interesting! I didn't imagine this optic of vision.

Maybe I imagine it could affect indirectly and or directly! Some very intensely and some not so much.

Generally speaking, a bear market can affect everyone, including Bitcoin

Cookdata

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Quote from: gagux123 on June 27, 2022, 04:55:52 PM

I've been thinking to myself about this question, as I never imagined this situation.
I don't know, maybe yes but maybe not, I believe that each gambler thinks differently about this great devaluation that we are currently having.

I imagine it doesn't affect so much, because there is a great chance that gamblers will still act even with this situation we are currently having.

I think bitcoin dump itself has a great impact other than players value, the dump affect even gambling activities but not really the value though in the user side whose value isn't tide to bitcoin on deposit, anyone who is willing to play can buy and sent to exchange but even the house itself do suffer this loss as a result of dump because they do keep their reserves in bitcoin.
Bitcoin dump do affect gambling activities because as the price continues to crash further, so do the trend and talk becomes less and less but looking at it vividly, the best time to gamble is now, you will earn more btc pending till another bull run, that will make you a real gambler and investor.

gunhell16

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I don't think there is an impact for the gamblers while BitcoinBTC is dumping its price in the market. It doesn't matter for them due to most of them they played for fun and some are doing it to find their luck to hit the jackpot winning with their small capital as a players in the gambling platforms.

Aside from that, it could be that some of the gamblers might get affected by the bitcoin dump but I guess its only few of them, maybe they accumulate their bitcoinBTC winning price something like that.

Fatunad

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Quote from: 3meek on June 28, 2022, 01:39:43 PM

Quote from: abel1337 on June 28, 2022, 12:20:29 PM

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?

It will depend in the gambler I guess but in majority of them, I think they are pretty affected by the dump especially if they keep their gambling funds on the casino and comeback to it when they want to play. Some gamblers bought btc using fiat and expect to earn more fiat from it, Given that bitcoin dumped they are obviously on loss in terms of value. This could also put some pressure on gamblers to regain the losses on value by just winning and accumulating some btc to have a fiat value profit.

Of course the drop in the price affects everyone who has bitcoin... It doesn't matter if it's a trader, investor or gambler... For example, today bitcoin is down 5%... So you had $100 in the morning and $95 in the evening... So about one bet on a football match disappeared... Let's say you bet another $5 and lost... So your dollar loss has doubled...

If you are really that mindful on usd value on what your portfolio has then it would be totally not really that worth for you to make out some gambling dealing in the first place. Deductions something like 5% wont really
be that much i would say yet considering that having this volatility is really just a normal or an ordinary day here on crypto space which its impossible for someone who cant really just able to accept on whats happening
around the market and on the capital that you do have in your pocket which its value is really moving.If you are dealing with gambling then you wouldnt really be minding most of the time.
So i would say that these dumps wont really be affecting nor have that big impact on gamblers unless if you are really that strict on spending up your funds then you would really be that too much in concern.

3meek

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Quote from: abel1337 on June 28, 2022, 12:20:29 PM

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?

It will depend in the gambler I guess but in majority of them, I think they are pretty affected by the dump especially if they keep their gambling funds on the casino and comeback to it when they want to play. Some gamblers bought btc using fiat and expect to earn more fiat from it, Given that bitcoin dumped they are obviously on loss in terms of value. This could also put some pressure on gamblers to regain the losses on value by just winning and accumulating some btc to have a fiat value profit.

Of course the drop in the price affects everyone who has bitcoin... It doesn't matter if it's a trader, investor or gambler... For example, today bitcoin is down 5%... So you had $100 in the morning and $95 in the evening... So about one bet on a football match disappeared... Let's say you bet another $5 and lost... So your dollar loss has doubled...

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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?

It will depend in the gambler I guess but in majority of them, I think they are pretty affected by the dump especially if they keep their gambling funds on the casino and comeback to it when they want to play. Some gamblers bought btc using fiat and expect to earn more fiat from it, Given that bitcoin dumped they are obviously on loss in terms of value. This could also put some pressure on gamblers to regain the losses on value by just winning and accumulating some btc to have a fiat value profit.

Topic: Does bitcoin dump have any impact on gamblers ? - page 12. (Read 3186 times)