Does bitcoin dump have any impact on gamblers ? - page 17.

Rengga Jati

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The impact may be for those who are still holding the Bitcoin or late sell at the higher rate when they won. But as long as that is Bitcoin and they are willing for long-term holding, why not? This will not give big impact.
But, if they are short-term holders or even getting this for cashing out, this will give a certain impact.

Quote from: milewilda on June 21, 2022, 05:08:01 PM

Gamblers doesn't really mind off about investment and on the money that they are spending on gambling which does mean that they don't really care on what's the market price or movement ...

Exactly, this will also depend on each personal purpose.
Most gamblers will use their BTC to bet or gamble again and again. Only at a certain condition that they will turn to stable coins or for cashing out to get the profits.

milewilda

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Quote from: Zilon on June 21, 2022, 04:50:44 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?

Gamblers also spend their winnings on valuable things so the price also affect. Gambling might not seem to be an investment in the eyes of strict people and non-gamblers but in real sense it might be considered as one, although in a reserved context. But be what it may the price dump also affect them both the bettor and the house because as price keeps falling the value of their wins sinks with it.

Gamblers doesn't really mind off about investment and on the money that they are spending on gambling which does mean that they don't really care on what's the market price or movement and whenever they do have that investment then it would be a separate thing and they won't really be including it into those funds that had been used on gambling because it was really intended to be used on that part and not really tending to go overboard but this one is situational because not all people would be having the control into various things.

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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?

Gamblers also spend their winnings on valuable things so the price also affect. Gambling might not seem to be an investment in the eyes of strict people and non-gamblers but in real sense it might be considered as one, although in a reserved context. But be what it may the price dump also affect them both the bettor and the house because as price keeps falling the value of their wins sinks with it.

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Quote from: coolcoinz on June 21, 2022, 03:41:58 PM

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.

So it's best never to think like that. I think if you look back, everyone will be able to build a chain of 5-6 decisions that by today would completely change their lives and make them millionaires (or change their lives in some other important capacity).
As for the impact of the bitcoin dump, at least on the forum, I do not see a drop in activity either among the posters or among the advertising campaigns.

illetyus

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BTC is generally used when depositing. Gamblers are not long-term investors in BTC. They only hold for a short time or are used when depositing.
The fall of the BTC price does not affect gamblers much.
But it can affect casinos.
I think like people are gambling more when the market is bearish or in the process of horizontal accumulation.

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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.

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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.

where can we see the volume of gambling sites?
I thought most of this information wasn't public
is there such think like a coinmarketcap for gambling/casinos?
would be interesting to have some sort of central place where we can check all the data

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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.

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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.

Well if they don't hold any huge volume of crypto prepared for to their hot wallets for their gambler to easily withdraw when they want to execute it well maybe they can't feel that, but if they have for sure they can feel how big the impact it is imagine the huge volume taken out compare to the value they put before it happen for sure this take a lot of money out from the dump happen. But for sure casinos always knows about the possible risk that's why we see them standing even if the bear market crashes some crypto prices recently.

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Quote from: Gosgosking on June 20, 2022, 06:00:44 PM

Bitcoin price affect gamblers . A gambler who is a hodler when bitcoin goes down he will be affected because some bitcoins are gone but when bitcoin goes up they make gains.
A gambler who wants to buy bitcoin and if the price goes up, is affect because he will be buying when the price is high, but if the of bitcoin goes down it will be an advantage for the gambler to buy.

Well, if that gambler has been holding, he won't buy at the top. And at the times like these, he should be buying those bitcoins and it's up to him if he'll allocate some to gamble.
While the rest will be put and allocated in holding. That's what holders must do and if you've got your own experience in gambling and holding, you'll set aside the specific amounts because you don't want to spend them while the current pricing is cheap.

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I also sometimes use Xlm apart from that. I can trim to send and test gambling services to make it more affordable. of the minimum income and withdrawal.
Bitcoin or other crypto if it is associated with the game, of course it will not have much effect because the value of the currency remains the same.
but if after completing activities in the arena, the holder intentionally does not exchange with fiat or stable coins, it is a risk. (perhaps hoping for a return from the crypto exchange rate that is suddenly bullish) although not infrequently it is also slammed bearish.
the medium of exchange (crypto) is free to be exchanged at any time, the platform also does not limit it. Because it is not a staking deficit, we must know the risks
when the holding period is over.
for me the crypto / bitcoin below currently has no effect on the platform.

TopT3ns

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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.

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Quote from: rahmad2nd on June 17, 2022, 09:34:23 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?

not very impactful, I think gamblers can just speculate in gambling bets to double it. after all, gamblers won't deposit all their assets, no, maybe just a few hundred dollars. So the question is whether gambling managers are not worried about a significant decline like now, or are they converting it into conventional currency in the market, this piques my curiosity.

Bitcoin dump is not the first time, and based on the research I did, every time the price of Bitcoin goes down it doesn't reduce people's interest
in gambling. This means that the decline in the price of Bitcoin does not have a big impact on gamblers, because I believe the majority of gamblers
do not use the gambling capital of Bitcoin that is used for investment. Usually the gambling capital is from the extra money we have, for example
I always set aside 10% of my salary to play gambling, and when I want to gamble, I will convert it into Bitcoin. So no matter the price of Bitcoin
goes up or down, my gambling capital doesn't change, always 10% of the salary I get. Therefore, in a bear market situation like now, the majority of
gamblers are still actively gambling. Unlike traders and investors who expect profit from Bitcoin price movements, so the impact of Bitcoin's decline
was huge for them. In fact, quite a lot of traders decide to take a trading break first, until the market recovers again. Because it must be admitted
that trading when the bear market is much more risky.

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Quote from: Gosgosking on June 20, 2022, 06:00:44 PM

Bitcoin price affect gamblers . A gambler who is a hodler when bitcoin goes down he will be affected because some bitcoins are gone but when bitcoin goes up they make gains.
A gambler who wants to buy bitcoin and if the price goes up, is affect because he will be buying when the price is high, but if the of bitcoin goes down it will be an advantage for the gambler to buy.

Gambling and investment should be separated because in general sense you are spending some coins on doing gambling which simply means that you wouldn't mind off about profiting on this time.if you don't like to mess up your investment then you shouldn't have done
Gambling in the first place.Answering the question about being affected then this is something can be answered by "No" because people
Would normally adjust on the amount of coins that they would be depositing according to
Fiat or usd value and on the time they win then it would vice versa.

Gosgosking

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Bitcoin price affect gamblers . A gambler who is a hodler when bitcoin goes down he will be affected because some bitcoins are gone but when bitcoin goes up they make gains.
A gambler who wants to buy bitcoin and if the price goes up, is affect because he will be buying when the price is high, but if the of bitcoin goes down it will be an advantage for the gambler to buy.

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Quote from: TheUltraElite on June 17, 2022, 09:38:37 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?

Gamblers only care about the outcome of their bets, they treat bitcoin like a bit** and not like gold worth treasuring like some of us. Of course they see the loss happening with the price going down but that does not stop their impulsive decision making which has been going on for years now.

If you ask them personally, they are all in that "yeah, its bad for me/too many losses" thought process but they are still playing with their money instead of saving it.

Truely, a chronic gambler's sense of remorse on spending money is blunted a long time ago. For them it is just like another cent to burn.

Yes, many gamblers probably aren't hodlers, probably there are many stories with them like these "if I didn't spend bitcoin in drugs in 2010 I could be rich now"... like "if I didn't gamble all my bitcoin and held a little I'd be set for life..."

some parallels there

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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?

Gamblers only care about the outcome of their bets, they treat bitcoin like a bit** and not like gold worth treasuring like some of us. Of course they see the loss happening with the price going down but that does not stop their impulsive decision making which has been going on for years now.

If you ask them personally, they are all in that "yeah, its bad for me/too many losses" thought process but they are still playing with their money instead of saving it.

Truely, a chronic gambler's sense of remorse on spending money is blunted a long time ago. For them it is just like another cent to burn.

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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?

not very impactful, I think gamblers can just speculate in gambling bets to double it. after all, gamblers won't deposit all their assets, no, maybe just a few hundred dollars. So the question is whether gambling managers are not worried about a significant decline like now, or are they converting it into conventional currency in the market, this piques my curiosity.

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Quote from: SirLancelot on June 15, 2022, 10:00:26 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?

Their motive is to play gamble but you still didn't mentioned if this was for fun or for profit. If it's for fun then yes they won't care whatever the price will be but if they are playing for profit then yes price matters because what if they already won huge but suddenly the price plummets more?

Those winning are also going to decrease dramatically but if the price rise, they will also be thankful with it because their winnings can get doubled or even more of it. For those who play for profit, they know that bitcoin is too volatile now and the chance to decline more is still there so they will try to avoid btc but will use stable coins or other altcoins.

Any gambler who gambles with Bitcoin is always a trader of some sort, as well. Even if he does not trade his Bitcoin and only sees 1 BTC = 1 BTC.

If he needs that money then he will not see 1 Bitcoin as 1 Bitcoin but rather become anxious when the dollar (or any fiat) price of Bitcoin goes down. I would love to say that cases like this are rare and that most gamblers only play with what they can afford to lose but the reality is usually not like that, from my experience.

So the dumping of the dollar price is going to definitely affect the gamblers, at least psychologically.

But thats just my view on it.

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Quote from: Cling18 on June 15, 2022, 10:41:19 AM

Quote from: Gianluca95 on June 15, 2022, 10:22:56 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 don't think that bitcoin drop would cause some issues to the gamblers, because usually they converts their USDT to BTC only when they bet, or play directly with USDT. Cryptocurrency is a way for play, a method, but its

price doesn't impact directly to the activity. I'm not concerned about, because when I want to play, I use my USDT directly into my casino account.

This is true, based on my personal experience though I'm just a small time gambler, I usually convert my funds to USDT so the current Bitcoin price doesn't affect me. I guess it will only affect holders if they aren't converting their funds to USDT right away. Gamblers usually focus on the profit and not the market situation because there are other alternatives to avoid being affected.

I think most of the gamblers are only using the USDT since the stability of the price will not decrease and which means that if they will bet on a scheduled date it will not decrease the value if they are holding bitcoin or altcoins.

And, it would be much better to bet using a stablecoin than altcoins which can be converted later.

Topic: Does bitcoin dump have any impact on gamblers ? - page 17. (Read 3186 times)