Does crypto market decline affect your gambling? - page 5.

marcbitcoins

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

Yes, i was affected because the Bitcoin value decreased in which you need to spend more bitcoins to match up every deal in gambling in which unfortunately if you loose it will doubled the cost of losing but in order to stop the damage i did stop gamble for a while and wait for the market to bounce back. This moved bores me but i don't have a choice but to wait until finally market is healing now and i can play more deals than last week. Wink

nelsledma

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Quote from: eternalgloom on February 06, 2018, 08:58:11 AM

Well yeah, it does affect my bet sizings on certain games I play, but other than that, no.
I think the amount of fees I'd have to pay to send a deposit has more of an affect than the sudden drop in price.

I had switched over to Litecoin for the most part, just because transactions were so slow and fees were too high for my taste.

Since that you have not mentioned, I hope you don’t mind me assuming that it was bitcoin which you were using to play gambling before. Bitcoin is the most beneficial asset on the face of Earth and I am happy to see that you have shifted to Litecoin because that has actually far less potential than bitcoin. Now, you can earn good amount of profits after some time because bitcoin is expected to touch 30k dollars in coming days.

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

Normally its decline affect on our gambling. But mostly those gamblers feel happy who play gambling on daily basis but i am not a regular gambler but it is clear bitcoin price increase and decrease affect on our betting.

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

It should or rather it automatically would affect the amount of coin used for playing gambling but gambling is not the right way of using any crypto coin. I am not a gambler or you can say that I quit this game long time ago, but if I still were one, I would have rather played more due to the downfall as that means losing same amount would mean less loss than before. But I am happy that I don’t play anymore.

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I do not spend much on Bitcoin gambling and thus prices does not affect me much. I got one advantage by this. I have noticed that now that prices of Bitcoins are on lower side, I can see my deposits being processed in less time. I know it will not last long as Bitcoin prices will recover but I am enjoying the current trends.

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This is unpredictable and it's also affect on my gambling habit especially when bitcoin market all turn into red.
At the moment I'm experience some losses so I try to gamble less than ordinary time

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Quote from: Pursuer on February 07, 2018, 08:33:00 AM

Quote from: MinerHQ on February 07, 2018, 08:17:23 AM

Quote from: roxbit on February 07, 2018, 04:23:57 AM

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

I think your talking opposite way because if bitcoin prices go down you can see many people who are buying bitcoins to gamble will bet more compared to when prices were high. If Bitcoin prices go very high then most people may think twice to spend money to buy and gamble. But people who have got old stock may be different and they won't look at the market price to gamble.

this is only true if the price is already low and staying there, not when it is dropping and on the way down there. during the drops or even rises people tend to go back to trading and being more active in the market itself specially if it is dropping so they pull out of any other activity such as gambling.

I think now many gamblers stopped to play gambling with bitcoins and they prefer to play with altcoins the reason is last year Bitcoin price. it went up to $20k, and I don't know how many gamblers felt so bad. But you are right when the price is less people will not think more and when it is skyrocket they will double time before placing a bet amount.

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Quote from: MinerHQ on February 07, 2018, 08:17:23 AM

Quote from: roxbit on February 07, 2018, 04:23:57 AM

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

I think your talking opposite way because if bitcoin prices go down you can see many people who are buying bitcoins to gamble will bet more compared to when prices were high. If Bitcoin prices go very high then most people may think twice to spend money to buy and gamble. But people who have got old stock may be different and they won't look at the market price to gamble.

this is only true if the price is already low and staying there, not when it is dropping and on the way down there. during the drops or even rises people tend to go back to trading and being more active in the market itself specially if it is dropping so they pull out of any other activity such as gambling.

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Quote from: roxbit on February 07, 2018, 04:23:57 AM

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

I think your talking opposite way because if bitcoin prices go down you can see many people who are buying bitcoins to gamble will bet more compared to when prices were high. If Bitcoin prices go very high then most people may think twice to spend money to buy and gamble. But people who have got old stock may be different and they won't look at the market price to gamble.

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

Of course not, why should it affect your gambling? For me there is a very important thing that you need to do when you gamble. You need to define your gambling bankroll, that basically states what you are willing to lose. You can do that in two things, either by defining your bankroll in crypto, and keep using that, so it doesn't matter if the value increases of declines, because you are using a crypto bankroll. Or you can define it in fiat, even though you use crypto.

If you chosen the second method then it should only have an impact on your gambling habits if the price went up. You convert $500 to crypto, and the price goes up and you now have $1k worth of crypto. I think you should withdraw half, since you decided that you would only risk $500. If the crypto price falls, and your bankroll is now worth $250, I think you shouldn't do a thing. The price will most likely bounce back, so you should continue to gamble the same way. By doing this, you will be sure that you are never risking more than you can afford to lose.

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Quote from: Siopao on February 06, 2018, 06:59:15 PM

If someone uses bitcoin for gambling, of course the decreasing value does affect. Ifnthe value is at low point yhe gambler will have to use a lot of btc but with lower price. So it means that the gambler will use bigger capital than what he spent during the high peak of btc.

Yes It does affect because as the price of cryptocurrencies fall many gamblers online started to lessen their bet since the value is lower. Compared to previous months where online gambling is very crowded where gamblers are actively gambling online.

Siopao

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If someone uses bitcoin for gambling, of course the decreasing value does affect. Ifnthe value is at low point yhe gambler will have to use a lot of btc but with lower price. So it means that the gambler will use bigger capital than what he spent during the high peak of btc.

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

Yep it affected my gambling practice and I find it negative because before when bitcoin is on ATH. I can gamble with fewer bits because the value is really high. That's why I need to take some rest and while waiting for the price to increase I'm sticking to apps and games so I can play gambling games for free. And when the price starts to be healthy and goes back on ATH then I gamble some bits again.

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It's affecting everyone, and there is a good point behind it. With the drop in Crypto market, people are using more coins to gamble, so there are more coins in circulation on the casinos, more coins being moved. I don't know if casinos exchange their coins into fiat often, if so, the supply on the market will increase, pushing the prices down a bit more, but seeing this, investors will start buying the cheap coins, pushing the demand up and consequently the Crypto market's prices. If the prices must decrease to increase the demand next, let it be.

At some point Crypto market will affect your gambling game the opposite it's affecting now...

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

For me yes especially that I use bitcoin in gambling. The amount of my capital increase since I need to target an specific amount of winnings, I need to bet mire bitcoin to earn more and I think the moment I lose some at this lower rates bitcoin has is as if I lose twice in an instant. Sometimes I think I should not gamble until tge market stabilize again.

crypto1010

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Quote from: axicron on February 05, 2018, 12:42:05 PM

I guess everyone here noticed some decline (hopefully temporary) of almost all coins people used to gamble with.

Is it affecting your gambling?

of course it is...I use to win 100 dollars easily as i new 0.01 btc was valuable now it means i need down the luck to make as much as i made but the market is slowly recovering made i won't have to work extra hard to make some profit

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Quote from: Tipstar on February 06, 2018, 12:26:15 AM

It does in some ways. Though buying bitcoin itself is a gamble and you are gambling the the gambling token. Your profit and loss should be considered along BTC is BTC gambling and the fluctuation in USD should be measure with your amount of Bitcoin bought.

Buying bitcoin is not a gambling but it is a highly volatile investment. Gambling means playing some games for enjoyment purpose but your buying bitcoins to make a profit.

I don't think bitcoin prices will have much impact on gambling but because of its transaction prices has come down a lot and transaction become faster which surely increase bitcoin gamblers.

eternalgloom

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Well yeah, it does affect my bet sizings on certain games I play, but other than that, no.
I think the amount of fees I'd have to pay to send a deposit has more of an affect than the sudden drop in price.

I had switched over to Litecoin for the most part, just because transactions were so slow and fees were too high for my taste.

hoppus

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For me it has an impact if I want to cash out early. So I have to change my bets according to the coin price.
But if not, if I'm looking on a long term betting, I keep my unit bet size the same all the time.

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Quote from: tokeweed on February 06, 2018, 07:38:45 AM

And notice how the activity around the gambling section have gone down this past couple of weeks. I guess it's either most people have converted to fiat or yeah, the crash affected their gambling habits fo sho.

I noticed it too which activity is less compared on previous months where price of bitcoin and altcoins is still on higher prices.People wont tend to play as of these days and they would either choose up to invest or buy cheaper altcoins and accumulating while its still cheap rather than on spending it on gambling. It will recover soon once market would settle.

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