Does bitcoin's price volatility affect your gambling habits? - page 9.

chickenado

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Quote from: ralle14 on September 19, 2017, 05:32:21 PM

Quote from: Gotottack on September 09, 2017, 03:22:57 PM

Quote from: ralle14 on September 09, 2017, 03:13:27 PM

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?

In sports betting the lowest I can go is 0.001 btc per bet because that's my sportsbook minimum bet. My answer before was no I don't change my betting strategy(from a different thread) but now that i've been losing more than I used to yes from 0.01 to 0.005 now.

This is what is puzzling me. Before, when I bet 0.001 btc per bet that means I am wagering about $0.8 back when the price of bitcoins were $800 a piece. Now that prices went up sky high, 0.001 btc bet is now $4.5! Which is significantly higher than what I used to bet. That is totally crazy. And there is no way to lower this bet in the sports books.

That's how bitcoin betting goes your bankroll value could drop hundreds of $$ in a week then go back up after a month. I know a few sportsbook did lower their bet amounts to 0.0001 btc because of the sudden price increase. A solution to this is to find a different sportsbook where they'll convert your bitcoin to fiat everytime you make a deposit.

I think having a reliable wallet with complete options of exchanging bitcoin to fiat can be the best way to do prior sending amounts for you bettings. With that it's a very fast transactions to have and sportsbook gambling games will be much more profitable, although losing is prone always.

Turan100

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yes , bitcoin value affect me in gambling and the bitcoin fees too , i was wagering with 0.01 btc with no stress no 0.002 i feel too much of adrenaline so there's lot of changes

ralle14

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Quote from: Gotottack on September 09, 2017, 03:22:57 PM

Quote from: ralle14 on September 09, 2017, 03:13:27 PM

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?

In sports betting the lowest I can go is 0.001 btc per bet because that's my sportsbook minimum bet. My answer before was no I don't change my betting strategy(from a different thread) but now that i've been losing more than I used to yes from 0.01 to 0.005 now.

This is what is puzzling me. Before, when I bet 0.001 btc per bet that means I am wagering about $0.8 back when the price of bitcoins were $800 a piece. Now that prices went up sky high, 0.001 btc bet is now $4.5! Which is significantly higher than what I used to bet. That is totally crazy. And there is no way to lower this bet in the sports books.

That's how bitcoin betting goes your bankroll value could drop hundreds of $$ in a week then go back up after a month. I know a few sportsbook did lower their bet amounts to 0.0001 btc because of the sudden price increase. A solution to this is to find a different sportsbook where they'll convert your bitcoin to fiat everytime you make a deposit.

serjent05

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Bitcoin volatility does not affect me in my gambling habits. If I used to bet in 0.001 i keep on betting on that amount. I do not know, for me Bitcoin is separate currency and i always disregard the conversion factor of Bitcoin to fiat currency. For me Bitcoin has the same amount all through out. If it is 0.001 BTC it is 0.001 BTC. I do not know if I can keep it that way though, if Bitcoin is equal to a million dollar. Grin

Gotomoon

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Quote from: zzSunZZ on September 19, 2017, 03:06:59 PM

Yes , it affected strongly to me, specially on 2 things: basebet and coin i choose to play. When bitcoin is losing it's price, the basebet gonna rise a bit depend on how much bitcoin lost it's price and it's opposite when bitcoin is increasing it's price. When bitcoin is down, i prefer selling bitcoin into usdt to hold than still keep btc to play. Better i play with others currency like eth or doge or ltc.

It is really affect the gambling habits when bitcoin price volatility the consistent to win the game. And still aiming to won the game and yes basebet depends on the rise. So the price affect my bets that I adjust my basebet .

zzSunZZ

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Yes , it affected strongly to me, specially on 2 things: basebet and coin i choose to play. When bitcoin is losing it's price, the basebet gonna rise a bit depend on how much bitcoin lost it's price and it's opposite when bitcoin is increasing it's price. When bitcoin is down, i prefer selling bitcoin into usdt to hold than still keep btc to play. Better i play with others currency like eth or doge or ltc.

Tungsten-1

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Quote from: ardentvolcanoes on September 17, 2017, 10:50:32 AM

Quote from: btcdevil on 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.

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.

I think it is the only limitation that we encounter every day and need it to be demolished as soon as possible. Bitcoin are not easily accessed in our country rather it is some sort of banned, we can say. So much difficulty it is to make daily usage of bitcoin, you must convert it into fiat and then enjoy. But otherwise i hope the day will become very soon that we use it very easily

ethereumhunter

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Quote from: rocketbits on September 19, 2017, 01:52:52 AM

Quote from: btcdevil on 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.

At the present moment, the bitcoin is facing a very tough time and converting it into fiat just for the sake of gambling is not a wise action. Bitcoin is lingering between 3300 dollars and 3500 dollars. The value will still decrease. I think it is better to get more bitcoins at this time than spending it on gambling.

yes its not wise if we are spend our bitcoin for just playing gambling because we'd better to use for trading to increase our bitcoin amount or we can sell into fiat or withdraw into our account. but its different if we use our bitcoin for investing with the house because as long as we don't playing gambling and only make invest, then i think we can increase the amount although its not guarantee for short term but i think its work.

rocketbits

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Quote from: btcdevil on 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.

At the present moment, the bitcoin is facing a very tough time and converting it into fiat just for the sake of gambling is not a wise action. Bitcoin is lingering between 3300 dollars and 3500 dollars. The value will still decrease. I think it is better to get more bitcoins at this time than spending it on gambling.

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

So does this factor affect how you gamble?

Yes it did change a lot with my gambling habit and when the price is higher I guess it's better and it is in my favor.

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?

Yes, this is the advantage that I'm talking about, the price of bitcoin is affecting my bets and your example is what I really do.

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?

Not that really high, I'm just adjusting the amount of bitcoin and I'm still depending on the value of USD.

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Quote from: JL421 on September 18, 2017, 12:32:57 PM

it has i stopped gambling once in for all few weeks back i saw the amount of loss i had and converted it to the current rate sums to a really high amount we could have made the profit we wanted from gambling just by holding the coin

If you do gambling in low quality gambling site means you will find the amount you invested in the fiat value in USD or your country currency value. This will make you think that you are investing big fund in the site to get larger view. I will suggest you to quit yourself from the gambling site.

Barbut

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Not so much, I still play with same amounts like before. But the feeling is different, couple days ago I had over 30 mbtc and in one moment I'm watching that amount and thinking how that amount worth more then 100$, last year it was like around 30$, what a difference. That night I lost all that, and a bit more and after that I was counting how much that is in dollars and how much I lost in dollars is much more then I use to play with. If btc rise more I will play with same amounts like I play now, it will be harder to earn that, but it will worth saving for that.

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Quote from: JL421 on September 18, 2017, 12:32:57 PM

it has i stopped gambling once in for all few weeks back i saw the amount of loss i had and converted it to the current rate sums to a really high amount we could have made the profit we wanted from gambling just by holding the coin

Keep doing that useless action , you will get nothing but regret ,
Moving forward and don't count what you have lost in gambling , it could be so vulnerable ,
You could become an addict just because want your huge loss value back in your bankroll ,
All of it just a fantasy , change that mindset and gamble whatever the amount as long as you can afford to lose it.

JL421

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it has i stopped gambling once in for all few weeks back i saw the amount of loss i had and converted it to the current rate sums to a really high amount we could have made the profit we wanted from gambling just by holding the coin

Pettuh4

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Quote from: poplolnman on September 18, 2017, 05:18:40 AM

Quote from: FasTroy on September 17, 2017, 12:33:04 PM

Quote from: KuromaYoichi on 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.

I am also not affected by bitcoin price volatility, I always use the same amount on bitcoin even if the price is high or low. I don't have any problem with that, It doesn't affect my gambling habits.

For exemple if the price of 1 btc is 4700$, I bet with 0.01 btc for a singel or parlay in sportbettings, the same thing if 1 btc worth 3700$.

some people with huge bitcoin investment / bankroll would really consider so hard to change their bet size from bitcoin to USD due so fear lost too much value. but for those people with small bankroll i think it won't affected much and would remain gamble with bitcoin rates instead switch it to USD , it's normal.

It doesn't really make any difference if you have a fixed bankroll that you're following. Whether the value of bitcoins rises or falls you stick to your fixed bankroll and bet without considering the market statistics and fluctuations.

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Quote from: FasTroy on September 17, 2017, 12:33:04 PM

Quote from: KuromaYoichi on 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.

I am also not affected by bitcoin price volatility, I always use the same amount on bitcoin even if the price is high or low. I don't have any problem with that, It doesn't affect my gambling habits.

For exemple if the price of 1 btc is 4700$, I bet with 0.01 btc for a singel or parlay in sportbettings, the same thing if 1 btc worth 3700$.

some people with huge bitcoin investment / bankroll would really consider so hard to change their bet size from bitcoin to USD due so fear lost too much value. but for those people with small bankroll i think it won't affected much and would remain gamble with bitcoin rates instead switch it to USD , it's normal.

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Quote from: megynacuna on September 18, 2017, 12:15:00 AM

Quote from: Lauren Smith on September 17, 2017, 10:50:35 PM

I don't really think people change their habits that much. I think they just think more in terms of btc then in terms of us value. Most casinos also dediakt to a 0.001 or 0.0001 btc bet. It's scary playing then realizing he much BTC has gone up. 0.001 can quickly become multiple of 0.01 and I'd things go bad that into dangerous territory of close to a whole BTC.

From sports betting point of view I'm not affected by the volatility of Bitcoin that much and so I just follow through my limits on each single bet or parlay irrespective of the prevailing Bitcoin price and then place my bets. That discipline has helped me maintain a pattern whether or not Bitcoin prices rise or fall.

Yeah because whatever the current fiat equivalent of your bet is, it's still in btc form so whether you bet 1btc equivalent to 3k or 1btc equivqlent to 4k, it's still 1btc basically. Thoughbof course if the difference is a lot different, then that may warrant some considerstions

megynacuna

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Quote from: Lauren Smith on September 17, 2017, 10:50:35 PM

I don't really think people change their habits that much. I think they just think more in terms of btc then in terms of us value. Most casinos also dediakt to a 0.001 or 0.0001 btc bet. It's scary playing then realizing he much BTC has gone up. 0.001 can quickly become multiple of 0.01 and I'd things go bad that into dangerous territory of close to a whole BTC.

From sports betting point of view I'm not affected by the volatility of Bitcoin that much and so I just follow through my limits on each single bet or parlay irrespective of the prevailing Bitcoin price and then place my bets. That discipline has helped me maintain a pattern whether or not Bitcoin prices rise or fall.

Lauren Smith

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I don't really think people change their habits that much. I think they just think more in terms of btc then in terms of us value. Most casinos also dediakt to a 0.001 or 0.0001 btc bet. It's scary playing then realizing he much BTC has gone up. 0.001 can quickly become multiple of 0.01 and I'd things go bad that into dangerous territory of close to a whole BTC.

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Quote from: KuromaYoichi on 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.

I am also not affected by bitcoin price volatility, I always use the same amount on bitcoin even if the price is high or low. I don't have any problem with that, It doesn't affect my gambling habits.

For exemple if the price of 1 btc is 4700$, I bet with 0.01 btc for a singel or parlay in sportbettings, the same thing if 1 btc worth 3700$.

Topic: Does bitcoin's price volatility affect your gambling habits? - page 9. (Read 3039 times)