Does bitcoin's price volatility affect your gambling habits? - page 6.

poplolnman

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Quote from: stolendata on October 09, 2017, 06:43:42 PM

Quote from: poplolnman on October 09, 2017, 10:41:58 AM

Quote from: sukamasoto on October 03, 2017, 11:35:31 AM

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

those people with huge desire and have a lot of addiction problem would become greed to keep placing bet in bitcoin no matter how much it is in dollar value. they tend to take that big opportunity (for them it's an opportunity sometimes) to make a big money or just go home. i wouldn't do that as well , prefer to play safe and stay on the limit line.

I think if I want to gamble I will never gamble with my bitcoin because bitcoin is the only source of my income and if I lose my bitcoin my earnings will be finished. I think I will gamble only with the earnings from bitcoin and definitely the price volatility affect my habits of gambling. If I have no or less which is only for my daily necessities how can I gamble? I think it is not sensible to gamble with the money of your family needs.

sometimes people love to take big and bigger risk , by gamble use bitcoin you would have a chance to make your profit get doubled and even quadrupled due bitcoin price growth and your gamble winning happened at same time. but yeah you have to know that the risk in gambling are so crzay high , it's just makes people addicted mostly. there's no harm to gamble in bitcoin rates as long as you aware about the risk.

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Quote from: futurebitcoins on October 11, 2017, 09:19:29 PM

Quote from: DeathAngel on October 10, 2017, 01:10:18 PM

The price of bitcoin will obviously affect people’s gambling habits, mainly the amount of bitcoin that people are willing to place on each bet.

But you should be betting same equivalent amount in a fiat currency right? But only bitcoins amount will go down if it's prices go up a lot.

I agree, if the price of Bitcoin goes up we can lower the amount of BTC we are betting, but I guess there are games that have fixed minimum amount of BTC needed to play that game so it means once BTC goes up the requirement goes up. Lucky I looked at BTC as separate currency and never think of its USD equivalent when I am playing. It is kinda stupid but well saves me headache of computing and calculating how much I won or lose in USD. Grin

futurebitcoins

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Quote from: DeathAngel on October 10, 2017, 01:10:18 PM

The price of bitcoin will obviously affect people’s gambling habits, mainly the amount of bitcoin that people are willing to place on each bet.

But you should be betting same equivalent amount in a fiat currency right? But only bitcoins amount will go down if it's prices go up a lot.

qwertyup23

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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?

It is totally dependen on the individual's preference but most of the time, gamblers tend to deviate from their priorities and statt exhausting all of their resources unconsciously. Perosnally, I would not mind if the price of my bitcoins are low, as long as I gamble then it's alright. This question is purely subjective and is a case to case basis.

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Quote from: BlackPanda on October 11, 2017, 06:40:34 PM

Yes bitcoin prices will definitely affect how we play gambling. when bitcoin prices decline we will more often play gambling and when the price increases then we will be more careful and limit our spending. I think the benchmark to play gambling is USD dollars, because the USD is a sure thing, while if the benchmark bitcoin then we will be quite difficult. so try not to overload and play with the amount of bitcoin we have because it could be a regret in the future.

It matters whenever we play and when we play and realizes that the price we have to risk can increase when we just hold it in btc,as we see it's price now it's really increasing. So better use some alts if we really wants to play and were confused on using btc in playing.

BlackPanda

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Yes bitcoin prices will definitely affect how we play gambling. when bitcoin prices decline we will more often play gambling and when the price increases then we will be more careful and limit our spending. I think the benchmark to play gambling is USD dollars, because the USD is a sure thing, while if the benchmark bitcoin then we will be quite difficult. so try not to overload and play with the amount of bitcoin we have because it could be a regret in the future.

LuanX3

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Quote from: iv4n on October 10, 2017, 02:04:30 PM

Quote from: DeathAngel on October 10, 2017, 01:10:18 PM

The price of bitcoin will obviously affect people’s gambling habits, mainly the amount of bitcoin that people are willing to place on each bet.

Yes, its affect me and others who started to gamble with bitcoins two years ago. Minimal bets in some casino's stayed the same, and that is a bit trouble for me. Now I need to deposit same amount of bitcoins like before to play some games, just now that amount worth much more then before while I have same minimal bets. Some bitcoin casinos will need to lower minimal bets if they wish to stay competitive. Nitrogen done that with sports betting, now minimal bet in sports at nitrogen sports book is 0.1 mBTC. That is great for us people who like to bet with minimal possible amounts.

Yeah that is true, back in 2013 when I was still gambling, I just readily gambled as much as 0.01btc a day on nitrogen, but now I can't even bet 0.001btc. I think it really does affect everybody's bet amounts. I think this is because people try to convert their bitcoins to fiat everytime they are betting. So I guess it depends on the person gabling.

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Quote from: DeathAngel on October 10, 2017, 01:10:18 PM

The price of bitcoin will obviously affect people’s gambling habits, mainly the amount of bitcoin that people are willing to place on each bet.

Yes, its affect me and others who started to gamble with bitcoins two years ago. Minimal bets in some casino's stayed the same, and that is a bit trouble for me. Now I need to deposit same amount of bitcoins like before to play some games, just now that amount worth much more then before while I have same minimal bets. Some bitcoin casinos will need to lower minimal bets if they wish to stay competitive. Nitrogen done that with sports betting, now minimal bet in sports at nitrogen sports book is 0.1 mBTC. That is great for us people who like to bet with minimal possible amounts.

DeathAngel

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The price of bitcoin will obviously affect people’s gambling habits, mainly the amount of bitcoin that people are willing to place on each bet.

stolendata

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Quote from: suvo05 on October 10, 2017, 02:31:16 AM

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?

For me it does not effects my gambling habits. When I gamble the base bet always depend on the total balance . As I always prefer to play with less total balance my bb is about 100 sat always.

I also do not think that it has such a great impact on my gambling habits, because i already have fixed a limit for my gambling in fiat currency and when i use to play gambling first i do calculation that for how much bitcoin or Sathoshi i have to play today, and i think it just take a few seconds therefore i do not think that it is effecting my gambling habits too much.

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Quote from: epitome on October 10, 2017, 10:55:03 AM

Quote from: suvo05 on October 10, 2017, 02:31:16 AM

For me it does not effects my gambling habits. When I gamble the base bet always depend on the total balance . As I always prefer to play with less total balance my bb is about 100 sat always.

For me the ever increasing price of bitcoin is a problem as i have not a ton of coins when it was easy to acquire and so every time i plan to gamble i have spend my money to purchase the coins and that is not always looking promising since it is really hard to make enough profit while i used to have in the past,the leverage is certainly restricted.

well if you are buying coins just to gamble and its right that you will be affected of bitcoin rising as you will see that every purchase
you made got a lesser value in btc that you bought so your bankroll would be much lower every time the value increase.

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Quote from: epitome on October 10, 2017, 10:55:03 AM

Quote from: suvo05 on October 10, 2017, 02:31:16 AM

For me it does not effects my gambling habits. When I gamble the base bet always depend on the total balance . As I always prefer to play with less total balance my bb is about 100 sat always.

For me the ever increasing price of bitcoin is a problem as i have not a ton of coins when it was easy to acquire and so every time i plan to gamble i have spend my money to purchase the coins and that is not always looking promising since it is really hard to make enough profit while i used to have in the past,the leverage is certainly restricted.

If you find out that it is hard then why you are still continuing to do such thing? You are just wasting of your bitcoin and at the same time you are wasting up your local fiat money. Bitcoins price volatility would not really be a major problem on playing gambling as long we are basing always on the equivalent or value of fiat but thinking off on piling all the loses you made on playing gambling on bitcoin form would really make you regret.

epitome

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Quote from: suvo05 on October 10, 2017, 02:31:16 AM

For me it does not effects my gambling habits. When I gamble the base bet always depend on the total balance . As I always prefer to play with less total balance my bb is about 100 sat always.

For me the ever increasing price of bitcoin is a problem as i have not a ton of coins when it was easy to acquire and so every time i plan to gamble i have spend my money to purchase the coins and that is not always looking promising since it is really hard to make enough profit while i used to have in the past,the leverage is certainly restricted.

suvo05

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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?

For me it does not effects my gambling habits. When I gamble the base bet always depend on the total balance . As I always prefer to play with less total balance my bb is about 100 sat always.

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Quote from: emberbekas on October 10, 2017, 12:11:16 AM

Quote from: jagmrx on October 09, 2017, 10:11:38 PM

Quote from: BunnyShibe on October 09, 2017, 06:42:21 PM

Quote from: lorylore on October 09, 2017, 10:58:26 AM

I used to be easily affected by the price of the bitcoin to control my gambling needs. However, some time ago, i have shifted from gambling bitcoin to gambling dogecoin. Two of the best things about dogecoin are that the supply is huge and the price is stable in satoshi.

Of course price volatility greatly affect gambling habits because if the price is high then I will earn more and more money and I will gamble a lot but if the price of bitcoin falls and I lose in that or my earnings are very little then I may quit gambling habit because of the money. Gambling relates only with money. The more money the more ambling, the less money the less gambling or no gambling.

In my opinion, Bitcoin's price do not affect the gambling habbit. Why ? Because gambling is not only with Bitcoin. You can gambling with any money, not just cryptocurrency. Besides, I think Bitcoin's price may affect people to stop gambling. If you win some good amount of money and you keep it in your Bitcoin wallet. And then the price of Bitcoin going up like a rocket, you will get profit with no work to do. You realize that investing is better than gambling, then you will stop gambling. You can see my point right ?

The price fluctuation indeed affect gamblers behaviour in regard with the money they can afford to lose. If for example a person can afford to lose $50 in a single bet, he has to change the amount of bitcoin he use to bet to reflect the price changes. Today's price is increasing so hard and I am sure most gamblers will reduce the amount of bitcoin they are willing to bet.

i do believe mostly adjust their bet amount in dollar rate , it is wasting too much money indeed when you don't care about bitcoin value , it is so precious now , don't make a bad decision by keep making the same amount bet in bitcoin .

in the future it will so difficult to earn bitcoin , save it now before too late. gamble only for small amount are enough.

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Quote from: jagmrx on October 09, 2017, 10:11:38 PM

Quote from: BunnyShibe on October 09, 2017, 06:42:21 PM

Quote from: lorylore on October 09, 2017, 10:58:26 AM

I used to be easily affected by the price of the bitcoin to control my gambling needs. However, some time ago, i have shifted from gambling bitcoin to gambling dogecoin. Two of the best things about dogecoin are that the supply is huge and the price is stable in satoshi.

Of course price volatility greatly affect gambling habits because if the price is high then I will earn more and more money and I will gamble a lot but if the price of bitcoin falls and I lose in that or my earnings are very little then I may quit gambling habit because of the money. Gambling relates only with money. The more money the more ambling, the less money the less gambling or no gambling.

In my opinion, Bitcoin's price do not affect the gambling habbit. Why ? Because gambling is not only with Bitcoin. You can gambling with any money, not just cryptocurrency. Besides, I think Bitcoin's price may affect people to stop gambling. If you win some good amount of money and you keep it in your Bitcoin wallet. And then the price of Bitcoin going up like a rocket, you will get profit with no work to do. You realize that investing is better than gambling, then you will stop gambling. You can see my point right ?

But in this thread, we are only talking about bitcoin gambling, then sure bitcoin price effect on our gambling habit. If you are not agree on it, then why you are giving suggest to play gambling with other money?
No doubt gambling is not belong to bitcoin, but if you play gambling with bitcoin then bitcoin price matter. You take turn from bitcoin because bitcoin is expensive then you want to play gambling with other money or crypto currencies, it mean the bitcoin's price effect you, then you take turn.

emberbekas

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Quote from: jagmrx on October 09, 2017, 10:11:38 PM

Quote from: BunnyShibe on October 09, 2017, 06:42:21 PM

Quote from: lorylore on October 09, 2017, 10:58:26 AM

I used to be easily affected by the price of the bitcoin to control my gambling needs. However, some time ago, i have shifted from gambling bitcoin to gambling dogecoin. Two of the best things about dogecoin are that the supply is huge and the price is stable in satoshi.

Of course price volatility greatly affect gambling habits because if the price is high then I will earn more and more money and I will gamble a lot but if the price of bitcoin falls and I lose in that or my earnings are very little then I may quit gambling habit because of the money. Gambling relates only with money. The more money the more ambling, the less money the less gambling or no gambling.

In my opinion, Bitcoin's price do not affect the gambling habbit. Why ? Because gambling is not only with Bitcoin. You can gambling with any money, not just cryptocurrency. Besides, I think Bitcoin's price may affect people to stop gambling. If you win some good amount of money and you keep it in your Bitcoin wallet. And then the price of Bitcoin going up like a rocket, you will get profit with no work to do. You realize that investing is better than gambling, then you will stop gambling. You can see my point right ?

The price fluctuation indeed affect gamblers behaviour in regard with the money they can afford to lose. If for example a person can afford to lose $50 in a single bet, he has to change the amount of bitcoin he use to bet to reflect the price changes. Today's price is increasing so hard and I am sure most gamblers will reduce the amount of bitcoin they are willing to bet.

jagmrx

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Quote from: BunnyShibe on October 09, 2017, 06:42:21 PM

Quote from: lorylore on October 09, 2017, 10:58:26 AM

I used to be easily affected by the price of the bitcoin to control my gambling needs. However, some time ago, i have shifted from gambling bitcoin to gambling dogecoin. Two of the best things about dogecoin are that the supply is huge and the price is stable in satoshi.

Of course price volatility greatly affect gambling habits because if the price is high then I will earn more and more money and I will gamble a lot but if the price of bitcoin falls and I lose in that or my earnings are very little then I may quit gambling habit because of the money. Gambling relates only with money. The more money the more ambling, the less money the less gambling or no gambling.

In my opinion, Bitcoin's price do not affect the gambling habbit. Why ? Because gambling is not only with Bitcoin. You can gambling with any money, not just cryptocurrency. Besides, I think Bitcoin's price may affect people to stop gambling. If you win some good amount of money and you keep it in your Bitcoin wallet. And then the price of Bitcoin going up like a rocket, you will get profit with no work to do. You realize that investing is better than gambling, then you will stop gambling. You can see my point right ?

carlerha

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Quote from: futile-resistance on October 09, 2017, 09:56:33 AM

Quote from: mrcash02 on October 03, 2017, 11:45:09 AM

Quote from: sukamasoto on October 03, 2017, 11:35:31 AM

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

I bet proportionally to the Dollar price too, so it affects my game a lot and more than this, when I see BTC price is too volatile I prefer to don't gamble, better to wait the prices become stable again, the volatility can bring a nice opportunity of guaranteed profit that gambling doesn't offer us, so it would be a waste of BTCs to gamble while the prices are changing too much.

I think there are some crazy guys that still bet 1 BTC sometimes at once. $4000 is nothing for millionaires/billionaires. Cheesy

It is really amazing to see people gambling with bitcoin like it was not enough to waste fiat on this insane activity. I am not criticizing anyone but the game itself. Maybe, some people will hate my words but no one will dare to deny the fact that gambling is useless and dangerous game. Spending a precious asset on it for the sake of few fun moments is not clever.

Not at all because I never gamble and especially in bitcoin because I have no experience of gambling and if I put some bitcoin in gambling I am sure that I will lose that. So for me price volatility is only affected my earnings and not gambling habits. No doubt many people who are addicted of gambling will be affected due to the volatility in price because of the earnings but I suggest not gambling if the price is too low and so is the income.

stolendata

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Quote from: poplolnman on October 09, 2017, 10:41:58 AM

Quote from: sukamasoto on October 03, 2017, 11:35:31 AM

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

those people with huge desire and have a lot of addiction problem would become greed to keep placing bet in bitcoin no matter how much it is in dollar value. they tend to take that big opportunity (for them it's an opportunity sometimes) to make a big money or just go home. i wouldn't do that as well , prefer to play safe and stay on the limit line.

I think if I want to gamble I will never gamble with my bitcoin because bitcoin is the only source of my income and if I lose my bitcoin my earnings will be finished. I think I will gamble only with the earnings from bitcoin and definitely the price volatility affect my habits of gambling. If I have no or less which is only for my daily necessities how can I gamble? I think it is not sensible to gamble with the money of your family needs.

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