Topic: Does bitcoin's price volatility affect your gambling habits? - page 10. (Read 3050 times)
September 17, 2017, 12:14:49 PM
No it doesn't because i always use the same unit size when gambling whether the price is high or not. The only difference is the total bankroll i play with. When the price is rather high, the bankroll is relatively smaller compared to when the price is down.
September 17, 2017, 11:51:33 AM
Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.
And now instead of buying and holding bitcoins you will buy altcoin and gamble with it. If you have 10$ to gamble, what is difference between buying bitcoin for 10$ and gamble with it and buying altcoin for 10$ and gamble with it? I don't see any. Enlighten me, please.
Gambling with 8.37€ or 0.0027BTC or 10000 DOGE is the same thing. They all worth 10$! If you want to gamble with 10$ it doesn't matter which currency you will use to spend 10$.
September 17, 2017, 11:28:24 AM
Bitcoin has grown so much that i dont really gamble in bitcoin anymore. I prefer to gamble with dogecoin or claims. I also prefer to gamble in casino that register as mbtc instead of btc cause i dont like small numbers like 0.001btc. Although it is just visual effect, gambling suppose to be a leisure that make you happy.
September 17, 2017, 11:09:02 AM
Yes of course it is, i did remember last year i still gambling with my base bet is 0.0001, but it's now only 0.000001, so you can see the bitcoin's price volatility affect very strong to my gambling habits.
Your base bet is way too small imo, unless you play with martingale strategy... I don't think bitcoin price should change how much bitcoins you'll gamble, unless you buy bitcoins only to gamble them. Otherwise you shouldn't care how much 0.01 is when you gamble it.
September 17, 2017, 10:50:32 AM
I dont have affect of price volatility as i have invested a bankroll and just following it and according to it i am gambling and what ever the profit i am getting i just convert them to fiat currency without seeing the price as i cannot use bitcoin for any purchase or other thing that is why i have to convert to use it in my real life.
Yes same thing I do, I really don't mind the price of the bitcoin since it really doesn't affect my gambling habits. I also convert my earnings into fiat because right now using bitcoins online are still limited in our country so most of the things I like to purchase need to use a fiat.
September 14, 2017, 10:29:39 AM
I dont have affect of price volatility as i have invested a bankroll and just following it and according to it i am gambling and what ever the profit i am getting i just convert them to fiat currency without seeing the price as i cannot use bitcoin for any purchase or other thing that is why i have to convert to use it in my real life.
September 14, 2017, 09:47:21 AM
Yes of course it is, i did remember last year i still gambling with my base bet is 0.0001, but it's now only 0.000001, so you can see the bitcoin's price volatility affect very strong to my gambling habits.
September 14, 2017, 08:42:34 AM
No, I've determined how much money that I'll use to deposit on gambling sites because currently the transaction fee for sending bitcoin is high enough that make me think will better to calculate first instead of doing some deposit.
September 14, 2017, 06:06:35 AM
Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.
And now instead of buying and holding bitcoins you will buy altcoin and gamble with it. If you have 10$ to gamble, what is difference between buying bitcoin for 10$ and gamble with it and buying altcoin for 10$ and gamble with it? I don't see any. Enlighten me, please.
September 12, 2017, 11:41:03 AM
Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.
And now instead of buying and holding bitcoins you will buy altcoin and gamble with it. If you have 10$ to gamble, what is difference between buying bitcoin for 10$ and gamble with it and buying altcoin for 10$ and gamble with it? I don't see any. Enlighten me, please.
September 12, 2017, 09:29:20 AM
So does this factor affect how you gamble?
If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?
If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?
If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?
If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?
Yeah, i do it. Actually, bitcoin price does volatility affect more than other altcoin's price. Then it is better to use bitcoin in gambling, as you give us example. Usually, i do use more bitcoin in betting when bitcoin price down and whenever bitcoin price go to up then sometime i left to play gambling, the fear of losing my expensive bitcoin.
yes and i am reduce my bets using bitcoin and still using altcoin to place a bets. but if i want to use bitcoin as a bets, i only want to place a small amount because bitcoin is the important thing for me and when bitcoin price volatility, i'd better to use bitcoin to make a profit than just playing gambling.
Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
September 12, 2017, 08:54:59 AM
So does this factor affect how you gamble?
If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?
If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?
If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?
If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?
Yeah, i do it. Actually, bitcoin price does volatility affect more than other altcoin's price. Then it is better to use bitcoin in gambling, as you give us example. Usually, i do use more bitcoin in betting when bitcoin price down and whenever bitcoin price go to up then sometime i left to play gambling, the fear of losing my expensive bitcoin.
yes and i am reduce my bets using bitcoin and still using altcoin to place a bets. but if i want to use bitcoin as a bets, i only want to place a small amount because bitcoin is the important thing for me and when bitcoin price volatility, i'd better to use bitcoin to make profit than just playing gambling.
September 11, 2017, 11:20:24 PM
So does this factor affect how you gamble?
If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?
If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?
If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?
If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?
Yeah, i do it. Actually, bitcoin price does volatility affect more than other altcoin's price. Then it is better to use bitcoin in gambling, as you give us example. Usually, i do use more bitcoin in betting when bitcoin price down and whenever bitcoin price go to up then sometime i left to play gambling, the fear of losing my expensive bitcoin.
September 11, 2017, 10:18:56 PM
Of course! When bitcoin price move up too high I will make my bets a bit lower and vice versa. I think most people will do the same thing as well.
Basically, the equivalent amount in dollars that you are willing to bet will remain same, but the decimals in bitcoins will change accordingly. Still playing the safe game! But using bitcoins for gambling, where you can lose your bitcoins very easily is not very smart after all.I think it is the opposite. When the bitcoin price increases, I change the decimal of my bitcoin to match my past bets because if I don't the value of it in dollars is so high for me to lose or to bet. But yeah, it is still better to play the safe game, though I just gamble when I feel it.
September 11, 2017, 09:29:32 PM
It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.
This is completely seperate from the USD value of the bet.
This is completely seperate from the USD value of the bet.
But also need to adjust your % of bankroll if Bitcoin prices go very high because if you still reserve the same % of bankroll every time to gamble then you may be going lose more money if prices are more. It is not a smart move because you might have bought these Bitcoins at a lower price but if you're losing Bitcoins when prices are high means you're losing more money.
September 11, 2017, 09:01:47 PM
It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.
This is completely seperate from the USD value of the bet.
This is completely seperate from the USD value of the bet.
But also need to adjust your % of bankroll if Bitcoin prices go very high because if you still reserve the same % of bankroll every time to gamble then you may be going lose more money if prices are more. It is not a smart move because you might have bought these Bitcoins at a lower price but if you're losing Bitcoins when prices are high means you're losing more money.
September 11, 2017, 05:07:18 PM
It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.
This is completely seperate from the USD value of the bet.
This is completely seperate from the USD value of the bet.
You are one of the few in this thread who understands the reasoning here. It appears that there are a significant number of gamblers in the thread who are not aware of the advantages associated with maintaining a bankroll management budgeting strategy. It makes me wonder how they can continue to play ---> they should be broke already!
But, shhhh ---> as long as it's a zero sum game ---> I guess we win! LOL
September 11, 2017, 02:43:41 PM
It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.
This is completely seperate from the USD value of the bet.
This is completely seperate from the USD value of the bet.
September 11, 2017, 02:41:10 PM
Of course! When bitcoin price move up too high I will make my bets a bit lower and vice versa. I think most people will do the same thing as well.
Basically, the equivalent amount in dollars that you are willing to bet will remain same, but the decimals in bitcoins will change accordingly. Still playing the safe game! But using bitcoins for gambling, where you can lose your bitcoins very easily is not very smart after all. September 11, 2017, 12:00:00 PM
Not an issue for me, I am not worried about the price volatility being a gambler, what we need to do is just cash out at the right timing so we can have a the great value of our money. The volatility is normal but what we are seeing is the price going up in overall so it's better to start with a decent bankroll so we do not need to cash in and cash out every time.
For me it doesn't because I don't readily withdraw and spend after games and so if the volatility is against me today chances are that hat tomorrow it will turn in my favor and so I give no qualms about it's volatility when it comes to my gambling lifestyle.
Jump to: