Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll. It will greatly affect their betting power when the Bitcoin price dump. The same way it increases their betting power when the Bitcoin price surge. Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.
Maybe this will be a dilemma for gamblers whose bankrolls are in crypto because any action may look wrong, but it could be that gamblers who don't really care about the value of their assets in casinos are depreciated in value due to the decline in crypto prices and think gambling is a hobby that cannot be stopped by something like this will keep playing, or they just switch the deposit money with fiat and play in fiat casinos, and this can only be done by whales who always have huge fund who can easily change their habits in making deposits from crypto to fiat and vice versa.
Topic: Does bitcoin dump have any impact on gamblers ? - page 6. (Read 3186 times)
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll. It will greatly affect their betting power when the Bitcoin price dump. The same way it increases their betting power when the Bitcoin price surge. Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.
Maybe this will be a dilemma for gamblers whose bankrolls are in crypto because any action may look wrong, but it could be that gamblers who don't really care about the value of their assets in casinos are depreciated in value due to the decline in crypto prices and think gambling is a hobby that cannot be stopped by something like this will keep playing, or they just switch the deposit money with fiat and play in fiat casinos, and this can only be done by whales who always have huge fund who can easily change their habits in making deposits from crypto to fiat and vice versa. 
They don't really care about that. The fact that if what matters a lot to the gamblers was the global economic. The bad trend in the crypto means nothing. Gamblers are using fiat value as basis to play in the casino but sometime they were also using altcoins.
The gambling is an instant play and it's not the same like an investment. If you are playing the game and you will get two results. Win or lose. That's why dump means nothing for the gamblers.
This is quite different compared when someone was gambling in the casino.
The gambling is an instant play and it's not the same like an investment. If you are playing the game and you will get two results. Win or lose. That's why dump means nothing for the gamblers.
This is quite different compared when someone was gambling in the casino.
Yes most gamblers using fiat value as the basis but it does not mean that they dont care about the price change. Imagine you make a bet of $1000 worth of bitcoin, and you win the bet, but after that the price of btc dumped crazily that makes you lose your winning bet in the value or even you also lose your bet amount due to the dump. What do you feel? Wont you affected with such situation?
They don't really care about that. The fact that if what matters a lot to the gamblers was the global economic. The bad trend in the crypto means nothing. Gamblers are using fiat value as basis to play in the casino but sometime they were also using altcoins.
The gambling is an instant play and it's not the same like an investment. If you are playing the game and you will get two results. Win or lose. That's why dump means nothing for the gamblers.
This is quite different compared when someone was gambling in the casino.
The gambling is an instant play and it's not the same like an investment. If you are playing the game and you will get two results. Win or lose. That's why dump means nothing for the gamblers.
This is quite different compared when someone was gambling in the casino.
Yes most gamblers using fiat value as the basis but it does not mean that they dont care about the price change. Imagine you make a bet of $1000 worth of bitcoin, and you win the bet, but after that the price of btc dumped crazily that makes you lose your winning bet in the value or even you also lose your bet amount due to the dump. What do you feel? Wont you affected with such situation?
People are not always that good when it comes to investment aspect where they do really believe that Bitcoin is the most hyped coin? thats really a very wrong idea to have.
Whenever we do play gambling then we dont usually mind about the money being spent whether you are making use of btc or some altcoins that they are accepting thats why i could really say that current market conditions cant really give out that much effect because gamblers are really that willing on spending their coins for their leisure.
If you do really think about investment while you do gamble then it doesnt really correlate but it would be a good bonus if you do win big and hit something significant on btc forum of course.
There are gamblers who are just aiming for entertainment, and if they use their crypto, they don't mind
if how much they use as long as they are being entertained, they will not be affected by any changes in terms of value, while
there are also gamblers who are very strict to this kind of enjoyment.
They are just allotting portions of their crypto and try not to exceed, some might be using their crypto for investment while
some really use it for gambling purpose.
Noone can gamble for a longer period of time - they win or they loose - but they quit at the end.
Investments do really come in other space where gamblers doesnt really correlate their gambling spending on the amount that they are saving for investment purposes.It is really just
totally different thats why when these declines or dumps happen then they dont really care most of the time.
Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll. It will greatly affect their betting power when the Bitcoin price dump. The same way it increases their betting power when the Bitcoin price surge. Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.
For those that are holding stablecoins, there's no effect on them but if we'll look at the value right now. Holding stablecoins have gone up in value because the value of USD has gone up too.most of the gamblers probably aren't bitcoin natives and would opt to hold their savings in usd instead of crypto, even if it is usd IN crypto like stablecoins
what do you think?
Maybe for some but I think many savers are into bitcoin and holding their most assets on it. And that's why there are gamblers that are opting for the option to gamble with some altcoins rather than spending those bitcoins that they hold. what do you think?
Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll. It will greatly affect their betting power when the Bitcoin price dump. The same way it increases their betting power when the Bitcoin price surge. Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.
most of the gamblers probably aren't bitcoin natives and would opt to hold their savings in usd instead of crypto, even if it is usd IN crypto like stablecoins
what do you think?
Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll. It will greatly affect their betting power when the Bitcoin price dump. The same way it increases their betting power when the Bitcoin price surge. Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.
Im disagreeing with this because once you do decide to make out some deposit with those coins you do have specially bitcoin then you are preparing yourself to lose those amounts since we arent that dumb that losing or odds of being wrecked with gambling is high and also majority of gamblers wont really be minding about investment moment on the time that they are tending to gamble.
Therefore i dont really see that they are been affected that much when it comes to this.
Also people had already set aside their funds which are intended for investment and never tend nor plan on making use it on gambling but not
all does have that kind of mindset though.
Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll. It will greatly affect their betting power when the Bitcoin price dump. The same way it increases their betting power when the Bitcoin price surge. Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.
I suspect this may be the case with most people
either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
Of course, that is why there are many currency options in casinos because not all gamblers want to gamble with bitcoins. Bitcoin whales in gambling seem more inclined to use bitcoin to gamble than other altcoins, I agree with that. But of course, most other gamblers prefer altcoins to bitcoins regardless of the price.either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
TRX, Doge, USDT, and Ethereum are some of the options I use to gamble, but I'm of course bitcoin is still possible for me to use. In the end it all depends on the preference of each gambler and what currency he prefers the most, but the impact of the decline in the price of bitcoin can be felt by the gamblers.
100% that
and in the end most of the chains or even centralized exchanges allow you to swap between currencies in a click
so it's not hard to change from one to the other as well
They don't really care about that. The fact that if what matters a lot to the gamblers was the global economic. The bad trend in the crypto means nothing. Gamblers are using fiat value as basis to play in the casino but sometime they were also using altcoins.
The gambling is an instant play and it's not the same like an investment. If you are playing the game and you will get two results. Win or lose. That's why dump means nothing for the gamblers.
This is quite different compared when someone was gambling in the casino.
The gambling is an instant play and it's not the same like an investment. If you are playing the game and you will get two results. Win or lose. That's why dump means nothing for the gamblers.
This is quite different compared when someone was gambling in the casino.
The market is so unpredictable - anything can happen at any stage of the time. If we look at LUNA - what a horrible mistake it was.
Two of my friends lost their big capital to LUNA, I was about to make the same mistake but thank God - I missed buying them.
Without a doubt when people are talking about a dump they think of a regular drop in the market in which there is still a possibility for the coin in which they invested to recover, however the dump of Luna was different.Two of my friends lost their big capital to LUNA, I was about to make the same mistake but thank God - I missed buying them.
If someone had most of their capital invested in Luna and was even gambling with it then what happened affected them to an incredible degree, as the coin crashed almost all the way to zero in a single week, and as such any moment of hesitation was a moment in which the price kept dropping and it was making more and more difficult the decision to sell, which is why so many people that bought Luna for a high price decided to not sell thinking the coin will recover, only to be proven wrong and losing any chance of ever recovering their money, which without a doubt affected their gambling as well as now they had no money to spare at all for the activity.
Really, the LUNA thing should not take us by surprise, this type of currency can reach that type of behavior, we know very well that everything is managed by supply and demand, and obviously LUNA does not have and never had a life of its own, LUNA just like all altcoins will always depend on BTC, and BTC is the only King currency, the one that rules, and yes, BTC is the only currency that has life, and only the fact of falling in price shakes the weaker altcoin projects and the it collapses, for me that was what happened to LUNA, it never had a good project, therefore it failed and everything went down, like a big landslide where nothing was left.
Alot of people are betting in dollar terms so it has an effect. I agree with the idea to bet the BTC amount but not alot will do this, they refer to the value to buy things immediately only not the investment amounts to BTC. I would try to focus on accumulating a whole Bitcoin from a lower amount and find this an objective, the game within the game and only worry about the price when I come to sell my earnings.
After all it can take years for BTC to actually move properly, people worrying about the price so much is pointless it should be the bet you make that matters most if you win be happy and I do think BTC recovers in time with regular usage.
At this low, many would accumulate because it's the essential thing to do for those that have sold at profit and then haven't accumulated back those.After all it can take years for BTC to actually move properly, people worrying about the price so much is pointless it should be the bet you make that matters most if you win be happy and I do think BTC recovers in time with regular usage.
There could be some spared bitcoin to gamble but it won't be a lot just as how many gamblers have spent during the bull run as if it's nothing because the price is high.
And regardless of what decision they take both of them imply reducing their expenses, now there are a few gamblers that still do not care about the changes in the price of bitcoin and the rest of the cryptocurrencies we have in the market but in my opinion they are a minority.
People will tend to bet lower amount I would say for this one. The bitcoin "dump" - I would just say the bitcoin drop - means that people who "hodl" feel inevitably worse about their investment and their future wealth. That could either depress some and get them to compulsive gambling or, for most, make them feel a bit "poorer" if that makes sense and play much less, as they would also go out less or consume less in general.
You are right on that Raflesia. Altcoins with cheaper networks like ltc and doge makes transfer much cheaper
Of course their value will also fluctuate of you compare it to usd. Not many ways to escape from that besides using the so called stablecoins.
Of course their value will also fluctuate of you compare it to usd. Not many ways to escape from that besides using the so called stablecoins.
I suspect this may be the case with most people
either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
Of course, that is why there are many currency options in casinos because not all gamblers want to gamble with bitcoins. Bitcoin whales in gambling seem more inclined to use bitcoin to gamble than other altcoins, I agree with that. But of course, most other gamblers prefer altcoins to bitcoins regardless of the price.either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
TRX, Doge, USDT, and Ethereum are some of the options I use to gamble, but I'm of course bitcoin is still possible for me to use. In the end it all depends on the preference of each gambler and what currency he prefers the most, but the impact of the decline in the price of bitcoin can be felt by the gamblers.
Yes, it depends on the preferences that are used, because now there are other options, so many casinos provide it, this makes it easier for other gamblers to choose alternatives coins.
Of course the impact of falling prices will certainly be felt, including me too.
I suspect this may be the case with most people
either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
Of course, that is why there are many currency options in casinos because not all gamblers want to gamble with bitcoins. Bitcoin whales in gambling seem more inclined to use bitcoin to gamble than other altcoins, I agree with that. But of course, most other gamblers prefer altcoins to bitcoins regardless of the price.either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
TRX, Doge, USDT, and Ethereum are some of the options I use to gamble, but I'm of course bitcoin is still possible for me to use. In the end it all depends on the preference of each gambler and what currency he prefers the most, but the impact of the decline in the price of bitcoin can be felt by the gamblers.
Of course, the impact will be felt by the gamblers but it really won't matter to them at all because they would still gamble despite the market's situation now. Some gambler says that they aren't doing the activities often now because of the situation but that's just the minority because the majority doesn't budge with the price movement as they will always choose altcoins that aren't making huge movements, just like what I always do.
The decline in the price of Bitcoin affects the entire crypto market. And one of the most important elements of this market is the crypto gambling market, whether this is for the gamblers themselves or for the gambling platforms whose value of their crypto savings will decline, which will push users to reduce the percentage of money allocated to betting, which will make the matter worse for the gambling platforms that may have to lay off part of the money. its employees or reduce the percentage of its daily profits.
I suspect this may be the case with most people
either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
Of course, that is why there are many currency options in casinos because not all gamblers want to gamble with bitcoins. Bitcoin whales in gambling seem more inclined to use bitcoin to gamble than other altcoins, I agree with that. But of course, most other gamblers prefer altcoins to bitcoins regardless of the price.either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
TRX, Doge, USDT, and Ethereum are some of the options I use to gamble, but I'm of course bitcoin is still possible for me to use. In the end it all depends on the preference of each gambler and what currency he prefers the most, but the impact of the decline in the price of bitcoin can be felt by the gamblers.
I think if they were new they wouldn't pay much attention to the ups and downs of the price, because basically they would focus on the stakes and not on the price on bitcoin. But indeed, the decline in the price of bitcoin will not affect the overall bet because every gambler and player certainly has its own way and calculation for them to hold, withdraw and deposit. So far the price of bitcoin has experienced a lot of decline but in fact there are not many gamblers who complain about it and also, not many of the developers are bankrupt, because more of them survive and continue to grow over time.
I don't know about anyone else, but for me it won't have any impact. I don't bet with bitcoin, but more likely to do with other currencies like stablecoin or others. The impact of bitcoin's decline only leaves me with the opportunity to earn more bitcoin if I win, but the opposite will happen if I use stablecoin.Big gamblers in the crypto space don't really care about price volatility, but they only care about how much assets they have in crypto so the lower the bitcoin price, the more it appears they are trying to collect more by gambling.
I suspect this may be the case with most people
either they don't bet with bitcoin at all or they consider USD cost-basis instead of btc when gambling
could be...
Jump to: