Does bitcoin's price volatility affect your gambling habits? - page 13.

knightmairesaint

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Quote from: iram3130 on September 08, 2017, 01:40:08 PM

Yes, definitely, I'm an old gambler and even if am gambling, betting on crypto now, my logic is fixed with USD so Bitcoin price changes will change the size of the bets I do. Because of I lose when BTC price was too high then the equivalent will be the double of whatever we were losing.

I agree with that. The benefit that we can get from the increase price in bitcoin related to gambling is when we have a target amount to use and if we are going to stick to that, we will use less bitcoin. Loosing bitcoin in gambling is really regretful especially if bitcoin has high equivalent price.

When playing, I prefer using fiat because it is not volatile.

iram3130

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Yes, definitely, I'm an old gambler and even if am gambling, betting on crypto now, my logic is fixed with USD so Bitcoin price changes will change the size of the bets I do. Because of I lose when BTC price was too high then the equivalent will be the double of whatever we were losing.

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

Well the price really does affect my gambling habits ,
Back when the price was just about $2000 I used to play almost every week because of the fee and don't really care about it i was just betting about .01 btc ,
But right now .01 btc is a high amount of money for me and the transaction fee is about .001+ so that would really be a huge amount,
And since I am only playing to past my free time it is really expensive way to do it.

bering

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because i'm not addicted of gamble and always fear to experience huge lost then i have to says yes this factor had really effect to my behaviour in gambling because the value of bitcoin increase then automatically my cost for every gamble was very high too currently but usually to avoid more cost i had gamble with altcoin such as Doge or ETH and lower my bets

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

Well if value or price of bitcoin goes up it means you losing more if you stick to the same wager amounts you used before so it would be a natural adjustment to lower our bets and this will also depend on the minimal allowed wager too.

Quote from: LuanX3 on September 08, 2017, 05:37:14 AM

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?

We have to be prudent here...going higher because of a dip in price wouldn't be a smart move but then again this will depend on how much we have in our bank

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

Whenever bitcoin price is going up or going down, still the currency I used here is bitcoin and all bets are 1:1 meaning no matter how much the value of BTC per USD still the money used is bitcoin. Now for the concern of the amount per bets, still nothing changed and all my bets is according to my usual amount that I put everytime I placed a bet because like I said above, it's still 1:1.

Price volatility rellay can affect my gambling habits, up or down so be it.

yoseph

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

Oh yeah without a doubt, we alwayslowering the amount of BTC we use drugs to donate as the price goes higher, last year the $100 equivalent of BTC is now $900 am sure no one will bet that much now as they used to do a year ago.

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

Of course not, if I bet using BTC, I will not always count the issue of the high btc price. Probably because of habitual factors that always make bets continuously

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

I guess it affects me but not that much since I just gamble using small amount of my bitcoin. I am also scared of what may happen to my bitcoins since I am planning to keep and save them for a short period of time this year.

If the price go up, I am lucky if I have some balance in my wallet on gambling sites, still goes up or it goes down, I will be using it to gamble.

DrGuns4Hands

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when the price of bitcoin is high i always bet on low ofcourse because i cant afford those chips that i can buy when bitcoin price is low. it's the matter of holding your money. if you buy a chips on a lower price wait till bitcoin price and then play gambling in that case you can make a good profit. just like holding your bitcoin.

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Quote from: LuanX3 on September 08, 2017, 05:37:14 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?

I think it shouldn't but for me it does. I mean I have a bankroll for gambling in bitcoin, so I guess I should use it and don't care about it's price in fiat, but the thing is, I only use BTC for gambling, and I don't use it to buy goods. So I will need to trade BTC to $ eventually, so I don't feel comfortable in risking to much $ on a bet, when BTC rises. If I didn't need to exchange BTC to fiat to buy normal stuff (like grocery) then I guess it would not affect me.

crazycatwoman03

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Yes it certainly does. If the price of the bitcoin is high it is good for me to use it for gambling because it means I can win higher by using higher amount of bitcoin. Other than that, for a certain equivalent amount I will need less bitcoin.

I don't usually gamble with bitcoin and I really do prefer using fiat. The volatility will surely make me regret if I wasted my bitcoin for gambling.

phr0stbyt3

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For me it has for sure I'm not a person who gambles regularly but with such a increase in price i feel people should really stop gambling i have already decided not to gamble anymore even i had gambled only once , maybe the price factor doesn't really matter to the people who gamble their mentality might higher price means higher win amount

YuginKadoya

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Isn't it another way around? if you have seen that the price of bitcoin goes up, surely there are other gamblers that will make their bet up so they can get a higher sum, but in my case I don't really look at the value of bitcoin, but the bitcoin itself you are not playing a gambling game with your fiat but with your bitcoin so decide in playing with it, well when I play gambling I usually don't look at the value but I am setting an amount that I think I can be OK when I lose it,

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Quote from: LuanX3 on September 08, 2017, 05:37:14 AM

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?

You would do that only if you value bitcoins in terms of liquid cash and not in "bitcoins".It's subjective as gambling websites don't lower their winning ratios as the prices go up/down.They still pay you the same.

Quote from: batako on September 08, 2017, 06:41:43 AM

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.

Not most people.People would still use max-min bet combination.I mean if the prices go high and minimum bet is 0.001 btc you can't expect to make a bet with 0.0001 just because the prices are high.

batako

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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.

LuanX3

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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?

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