IMO, I think that a dump does affect the average gambler who has suffered a sudden loss of BTC value. I think that the gambler would have a further disassociation of the value of the BTC vs the chips he or she is playing with.
I think this would mirror the fact that casinos use chips and not actual dollars on the tables in real casinos.
Topic: Does bitcoin dump have any impact on gamblers ? - page 16. (Read 3186 times)
On a very little percent yes but the remain percent ,doesn't have any major impact and I think people will gamble even more if Bitcoin drops even further. Why ? Well it's hard for some of us to think that gamblers , most of them when it comes to crypto gambling , they will convert cash to crypto before playing ,so this means they won't get affected much if the price will go up or down. And if it goes down , people are most likely to gamble even more cash to somehow increase their crypto portfolio or chase insane wins that could be even bigger when Bitcoin goes up.
There are so many types of gamblers out there that Bitcoin price is probably their last problem right now.
For people who have that mindset, it's clear 1 bitcoin = 1 bitcoin regardless of the price. They bet with bitcoin to earn bitcoin, but this principle is only for a small number of gamblers because generally other gamblers bet on bitcoin or altcoin to make money. The first mindset is for the crypto whales in gambling, they may have been doing it for a long time and it is no longer a problem for them. There are so many types of gamblers out there that Bitcoin price is probably their last problem right now.
On a very little percent yes but the remain percent ,doesn't have any major impact and I think people will gamble even more if Bitcoin drops even further. Why ? Well it's hard for some of us to think that gamblers , most of them when it comes to crypto gambling , they will convert cash to crypto before playing ,so this means they won't get affected much if the price will go up or down. And if it goes down , people are most likely to gamble even more cash to somehow increase their crypto portfolio or chase insane wins that could be even bigger when Bitcoin goes up.
There are so many types of gamblers out there that Bitcoin price is probably their last problem right now.
There are so many types of gamblers out there that Bitcoin price is probably their last problem right now.
interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
Of course it is, the fees will increase higher than now, perhaps around x3-4 more and it's not convenient if you're a small gambler because even you have multiply your beginning bankroll, the withdrawal fees will cost you a lot. In that situation, that's why many people prefer to use altcoins since it's cheap.maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
I'd say the impact is only for casino which present our money in USD while we're deposit on BTC, ETH etc. This will make us feel the money you have deposited went down and you need to calculate it again if you're using such money management.
The last time bitcoin fees were unacceptably high was 2018 if I'm not mistaken. Since then, only ETH has experienced problems with network bandwidth and transfers in it are inadequately expensive.
As for the recalculation of funds (if we are talking about gambling), this is also not a problem - I think the one who keeps dollar goals in mind plays on USDT, and the one who counts in satoshi also plays them.
If the gamblers knows how volatility the price of bitcoin is, then it wont affect them as they should have realized it really well. Means that they are ready for any case that may happen on bitcoin's price. Even if the price dumped crazily, they know what to do with their bitcoin (hold it) till the price back to the price when they started their gambling session. For those who are not ready with crazy movement of the bitcoin price, it is better to use stable coin.
There is no big problem here, because the main task of the player is to increase their deposit, so to increase the amount of bitcoin they have. This is what the player should really worry about, and the fact that the price will rise after some time is clear to everyone who has been familiar with the cryptocurrency for at least a few years, has seen how cycles change, and the bear market is replaced by a bull market. 
For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.
interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
It seems to me that real gamblers do not think about such long-term prospects - it's one thing if they see that bitcoin has fallen or grown by 10% in a day, then they can talk about loss or gain. But it's another matter to look to a more distant future - a gambler wants to play here and now, and not wait for theoretical (and not guaranteed) returns from investing.
For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.
interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
Anyways, I'd see no big difference when gambling during the bear season vs bull season as the results are still the same. Assuming that gamblers will stop gambling during the market correction, then we have to say that gambling sites will stop as well and seasonal. Oh, I didn't see that, a real gamblers don't care about the market situation, they instead do things that make them happy.
interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
Of course it is, the fees will increase higher than now, perhaps around x3-4 more and it's not convenient if you're a small gambler because even you have multiply your beginning bankroll, the withdrawal fees will cost you a lot. In that situation, that's why many people prefer to use altcoins since it's cheap.maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
I'd say the impact is only for casino which present our money in USD while we're deposit on BTC, ETH etc. This will make us feel the money you have deposited went down and you need to calculate it again if you're using such money management.
For me it was always more painful when Bitcoin pumped because I could remember all the money that I've wasted and kept thinking about the things I'd be able to buy now that I'd have 5 times more without having to take the risk. It's actually amazing how much every small move that we make can affect our future, like the decision to roll the dice. You think you're winning or losing $1000 but you could in 10 years see that at that time you were winning or losing a million.
interesting
maybe we can explore the opposite question of the OP too
Does bitcoin pump have any impact on gamblers?
maybe there's peopple who are less prone to gambling when price is higher, because it would make more sense to hold it.
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?
If the gamblers knows how volatility the price of bitcoin is, then it wont affect them as they should have realized it really well. Means that they are ready for any case that may happen on bitcoin's price. Even if the price dumped crazily, they know what to do with their bitcoin (hold it) till the price back to the price when they started their gambling session. For those who are not ready with crazy movement of the bitcoin price, it is better to use stable coin.
Good advice to gamblers who don't know how to work with the volatility of bitcoin,
it's better to use stable coin, it will allow you to continue without being bothered in a rollercoaster changes of value
of your bankroll in terms of fiat.
But if you are a gambler who knows how to deal with this and you are good at balancing your bankroll, you'll treat this
as a normal case around, you'll be patiently wait before cashing out.
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 depends on the gambler, as for me, it has no impact at all as I separate my gambling funds from my investment funds. if you are just using bitcoin as a payment method, the price should not matter as at the end of the day, you will just convert your bitcoin to cash out and enjoy your winning.
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?
If the gamblers knows how volatility the price of bitcoin is, then it wont affect them as they should have realized it really well. Means that they are ready for any case that may happen on bitcoin's price. Even if the price dumped crazily, they know what to do with their bitcoin (hold it) till the price back to the price when they started their gambling session. For those who are not ready with crazy movement of the bitcoin price, it is better to use stable coin.
Most gamblers usually use their own money in fiat to gamble and if they manage to win some amounts, they convert it immediately so they will have funds to gamble again for the next day. These bitcoin dumps won't be a concern for them as the value will still be the same if they always convert it immediately. If you're a gambler and a trader or investor, then you should have separate funds on those activities.
There might be some gamblers who instantly withdraw their funds and convert them to fiat however not all gamblers do the same techniques. There is some gambler who let their funds stay on the platform until they reached some goal or maybe not at all and only withdraw them when they need them. Also, I don't think they really based their gambling funds on fiat but rather on crypto that they prefer such as bitcoin, ethereum, or other cryptocurrencies. So they might really not be affected much whether the price changes or not since they're basing their funds through crypto and not on fiat. It really depends on the preference of the gambler whether they'll be basing their gambling activity through crypto or fiat.
Most gamblers usually use their own money in fiat to gamble and if they manage to win some amounts, they convert it immediately so they will have funds to gamble again for the next day. These bitcoin dumps won't be a concern for them as the value will still be the same if they always convert it immediately. If you're a gambler and a trader or investor, then you should have separate funds on those activities.
It would automatically converts on the current market price which we know that majority of gamblers doesn't care on what's the value on the time that they do make deposit.Ex. 100 USD = 0.001 or 0.005 btc value then it won't be an issue.
They do know the advantages that on a declining market they could possibly earn more coins since the value is less but that's if they are minding about investment but if not then it won't an issue imho.
I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend mony to return gamvling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.
once a gambler, always a gambler. so no matter what the situation of the market we are in, they will always play. they may reduce their spending habits, but they will still find a way to play. gambling business is one of the earliest applications of crypto. and look at where we are now. casinos/bookies are still sprouting like mushrooms. if they are not generating income, we won't see this business expand to where we are right now.
The dump would make a difference in fact I think they would play less,at least this is what I do,I play less in dollars now because for the same amount of dollars I have to spent a bigger amount in Bitcoin.While when the price is huge like near 60K I would play more in dollars as that would translate in less being spent in Bitcoin.I think this is true in every gambler who prefer to gambles with Bitcoin.I also agree with once a gambler always a gambler but the gambler who loves Bitcoin does what I say most likely.
Most gamblers usually use their own money in fiat to gamble and if they manage to win some amounts, they convert it immediately so they will have funds to gamble again for the next day. These bitcoin dumps won't be a concern for them as the value will still be the same if they always convert it immediately. If you're a gambler and a trader or investor, then you should have separate funds on those activities.
I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend mony to return gamvling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.
once a gambler, always a gambler. so no matter what the situation of the market we are in, they will always play. they may reduce their spending habits, but they will still find a way to play. gambling business is one of the earliest applications of crypto. and look at where we are now. casinos/bookies are still sprouting like mushrooms. if they are not generating income, we won't see this business expand to where we are right now.
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?
A gamble that gamble frequently would not be too affected by the price of Bitcoin because of their often gambling activities. In one way or the other they can feel the dip of the market because the worth of their Bitcoin might have depreciated in value which is the reason why many gamblers that are not a frequent gamblers might take a look at other alternatives they can use to get it done. The use of stable coins can also be considered as a good alternative for Bitcoin due to it volatility. 
I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend mony to return gamvling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.
once a gambler, always a gambler. so no matter what the situation of the market we are in, they will always play. they may reduce their spending habits, but they will still find a way to play. gambling business is one of the earliest applications of crypto. and look at where we are now. casinos/bookies are still sprouting like mushrooms. if they are not generating income, we won't see this business expand to where we are right now.
I feel like it may not directly BUT indirectly affect gamblers. Most gamblers probably hold their gains as USDT as the most popular stable coin or Bitcoin or Ethereum. Bitcoin losing value may make them feel bad in general so they may prefer to spend money to return gambling back later on. It totally depends. Bitcoin dump overall every aspect of where crypto is used, so gambling is obviously included.
Jump to: