Does the changing value of BTC affect your decision to gamble in crypto casinos? - page 2.

rachael9385

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Quote from: TheUltraElite on September 18, 2024, 03:53:15 AM

I would not play if the prices of bitcoin are swinging up and down. Rather stay put and watch it until it settles a bit. However there are gamblers who are addicted to the game and are not thinking about anything beyond gambling.

For them the price does not matter, they will gamble no matter the price and they will continue to gamble till they are bankrupt of their monthly allowances. It is like a drug to them and without it they become hopeless.

Logically speaking, one should amass coins during bear run and play on the bull run but who cares?

I also prefer not to gamble with Bitcoin while the price is not convincing to me, I will prefer to buy a stable coins (like USDT) and gamble with it than using my BTC to gamble. However what you said about some addicted gamblers is basically true because they will still gamble if they have Bitcoin and their BTC is depreciating. They might think that when they deposit their Bitcoin into their betting account they might be able to win and replace the BTC. However those kind of gamblers will also borrow money to gamble, and they can not invest in Bitcoin for long term if they can not discipline themselves when they want to gamble.

TheUltraElite

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I would not play if the prices of bitcoin are swinging up and down. Rather stay put and watch it until it settles a bit. However there are gamblers who are addicted to the game and are not thinking about anything beyond gambling.

For them the price does not matter, they will gamble no matter the price and they will continue to gamble till they are bankrupt of their monthly allowances. It is like a drug to them and without it they become hopeless.

Logically speaking, one should amass coins during bear run and play on the bull run but who cares?

ethereumhunter

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Quote from: Samlucky O on September 18, 2024, 12:37:29 AM

Quote from: shanz on August 15, 2024, 07:54:29 AM

Well! when Bitcoin’s value decreases, I actually go with the idea to play. Although it can be risky, I see it as an additional opportunity to profit. By being lucky (just for one minute) in games like slots, I believe there’s a chance to win and double the balance when BTC’s value rises again. Btw, I follow strict responsible gambling measures to avoid any bad surprises or feelings of regret.
You know, I might be right or wrong (since I’m not predicting the future) Wink

but I consider playing as an entertainment activity rather than purely a side hustle. How about you? does the fluctuating value of BTC sway your mood and influence your decision to gamble or not, and why Huh

Changing of bitcoin value or price does not even change anything, Except the price dip is severe and affected it much. But the in such situation the amount to gamble would be reduced from the initial planed amount. Like if btc was at $60k and a person use to gamble with %6 of his bankroll, he may decide to reduce it to %5 when btc have dip to $50k. Morover I don't think it's everyone that usea crypto casino Because most people gamble on a regular fiat gambling casino which doesn't require using crypto.

Maybe the values changes following Bitcoin price. It is normal to see some people trying to wins in gambling using Bitcoin as the bet because they want to double their Bitcoin amount. If the price is increases after they double their Bitcoin amount, that will be the profits from them. But they must understand that the chance to wins in gambling will not too big so they must be careful spending their Bitcoin in playing gambling. The fluctuating of Bitcoin price will always be there so we must not trying to uses our Bitcoin for just playing gambling as we also wants to make a profit from the differences of the buy and sell price. To playing gambling or not when the price fluctuating will be personal decision so we can let them to choose what they will do related to their Bitcoin.

Ever-young

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Quote from: kotajikikox on September 17, 2024, 11:16:12 PM

yeah always of course , And when the price is increasing I tend to lessen my gambling for a chance of doubling my funds before betting again .

How do you calculate your bet? Do you calculate it based on coin or USDT equivalent?

If it's based on coin, then yes, you will need to reduce how you gamble when ever price is going up, but if it's based on USDT value, then I don't see any point in doing that, as you will still have to either pay less of the coin if the price is high to gamble or more of the coin if the price is low.

Seeing gambling as a means to double your holdings might not really work well, as you might end up losing that money instead where you are trying so hard to multiply it.

Orpichukwu

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Quote from: Solosanz on August 17, 2024, 06:17:31 AM

Don't value your currency in other currency, it doesn't make sense.

If you keep thinking about profit and loss about the currency you use in gambling, why you didn't think you will in loss if you keep gambling? why you didn't use the money to invest and increase your wealth?

Just let it go, you must not being hard to yourself when it comes to entertainment.

While you’re absolutely right, I’m afraid that a lot people may not share in your point of view, so many gamblers out there view gambling as more than just entertainment and every penny they lose in gambling is seen as a great loss and this is why they attempt to try to recover them sometimes. Gambling to some is a way to increase their wealth regardless of the uncertainty and unpredictability in gambling they still make it one of their regular source of income, and some, their only source of income. So you don’t expect such a one not to think about profit and loss while gambling.

I’m pretty sure if there was a better investment option for them to make quick profits, then they wouldn’t consider choosing gambling as an option.

dansus021

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Does the changing value of BTC affect your decision to gamble in crypto casinos? Hell yeah heck I it just not happen in bitcoin but in other form of cryptocurrency as well. When the price goes up there and my bet are gonna it just fell like "why I'm doing bet with bitcoin yesterday" or something similar like that.

That is why if I were you now it is better to only bet using stablecoin like usdt or usdc since this is pegged to a dollar then you no need to worry about the value unless you bet in btc and won jackpot in btc those will be huge jackpot if the prices goes up

bakasabo

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Quote from: Samlucky O on September 18, 2024, 12:37:29 AM

Changing of bitcoin value or price does not even change anything, Except the price dip is severe and affected it much. But the in such situation the amount to gamble would be reduced from the initial planed amount. Like if btc was at $60k and a person use to gamble with %6 of his bankroll, he may decide to reduce it to %5 when btc have dip to $50k. Morover I don't think it's everyone that usea crypto casino Because most people gamble on a regular fiat gambling casino which doesn't require using crypto.

If you say that bitcoin price changes does not mean anything, then why people who share their gambling experience here, use dollar equivalent all the time? They say I have won $ , I bet $ on a team, I have lost $ , there is a story when someone lost $ . Because it is easier to evaluate the amount of success of failure. I believe that many gamblers, after making a deposit, switch their wallets to display in fiat option. That is why, when you had $100 on a balance, and in few day you see $106, subconsciously you might consider betting those $6.

Mate2237

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Quote from: HONDACD125 on September 17, 2024, 04:35:17 PM

Quote from: Mate2237 on September 17, 2024, 03:28:56 PM

I will say yes because the nature of bitcoin price is not stable in one place for you to deposit and withdraw. If you are gambling, and in the that me to deposit was $60k of one BTC and you wanted to deposit about $40 as the rate of 0.00068 and the price of bitcoin reduce to $57 then the total about you wanted to deposit would also increase to 0.00070 or more to complete the $40 dollar deposit.

Therefore the changing of bitcoin price affect the gambler from but the withdrawal and the deposit.

The easiest and best way is to not use Bitcoin for gambling. We have stablecoins that are perfect for things such as gambling. Deposit using USDT and gamble without worrying about its price because it is not going up or down anytime unless something very bad happens and it leaves its peg but what are the odds of that, right?

I always prefer stablecoins when I'm gambling, one reason is what we are discussing right now which is the price because if you are using an unstable cryptocurrency, you will be worried about the market getting a dump because your money will lose value because you can't sell it immediately when you are gambling. Another reason for me to use stablecoins is the convenience in keeping a count. Suppose you are using Bitcoin, you will not know the dollar value of your balance all the time because it's shown in Bitcoin unless the platform shows the value is USD as well but it will keep fluctuating.

So I think it's better to use stablecoins for gambling purposes.

This has been discussed sometimes ago and many participants who made comments there supported the use of bitcoin because they see bitcoin has the best coin to make transaction. Oh yes what you said is also good for using stablecoins to deposit and withdraw from casinos. And use bitcoin for investment and purchase goods and pay services if there is any available shop accepting it at the location you live. There are some casinos that also accept fiat currency so if such option is also available then you can make use of it. I have used it before and it is okay.

Though it delays because the third party bank has to transfer it to the casino then the casino in turn send it to your account balance but in cryptocurrency, it appears instantly because you are depositing direct to your address in the casino. So cryptocurrency is the best option to use.

Samlucky O

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Quote from: shanz on August 15, 2024, 07:54:29 AM

Well! when Bitcoin’s value decreases, I actually go with the idea to play. Although it can be risky, I see it as an additional opportunity to profit. By being lucky (just for one minute) in games like slots, I believe there’s a chance to win and double the balance when BTC’s value rises again. Btw, I follow strict responsible gambling measures to avoid any bad surprises or feelings of regret.
You know, I might be right or wrong (since I’m not predicting the future) Wink

but I consider playing as an entertainment activity rather than purely a side hustle. How about you? does the fluctuating value of BTC sway your mood and influence your decision to gamble or not, and why Huh

Changing of bitcoin value or price does not even change anything, Except the price dip is severe and affected it much. But the in such situation the amount to gamble would be reduced from the initial planed amount. Like if btc was at $60k and a person use to gamble with %6 of his bankroll, he may decide to reduce it to %5 when btc have dip to $50k. Morover I don't think it's everyone that usea crypto casino Because most people gamble on a regular fiat gambling casino which doesn't require using crypto.

Patikno

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Quote from: shanz on August 15, 2024, 07:54:29 AM

How about you? does the fluctuating value of BTC sway your mood and influence your decision to gamble or not, and why Huh

Yes, Bitcoin price fluctuations influence my decision to gamble or not, it's not just about Bitcoin but all the assets in my portfolio because Bitcoin will affect the price of altcoins too, right?

Usually, if the market becomes bearish, I will not gamble, because it will damage my risk management, imagine, the value of your portfolio decreases, then you gamble and then lose which makes you lose value twice. Bull markets are always my favorite to gamble on.

kotajikikox

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yeah always of course , And when the price is increasing I tend to lessen my gambling for a chance of doubling my funds before betting again .

Hirose UK

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Quote from: Aanuoluwatofunmi on September 17, 2024, 04:25:41 PM

Both bitcoin value and the casino gambling or our decision to gamble because of the bitcoin market trend, it should affect us in any way, because we are not to make our gambling decision base on the market volatility in bitcoin, this is what we are going to see in so many ways happened to us, when whenever its thoughts comes, we should always learn not to reason along, they are all independent of each other, you gamble, the market remains volatile in crypto and you have your fun in gambling.

That right, moreover the value of bitcoin in the market always changes significantly and we gamble not only using bitcoin here but there are several other cryptos that can be used such as stable coins.
Here everyone has fun and they can use lot of crypto value options as one type of currency used for betting, the thought of being influenced by the value of bitcoin on gambling will also not give any results except doubt and also fear of taking risks.
Gambling is not like investing or trading so there will never be any connection with the value of crypto currency especially bitcoin, it quite funny if there are still those who are affected because we are given lot of convenience and many choices in crypto-based gambling.

Julien_Olynpic

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I believe that if Bitcoin falls in price, it is more profitable to use it in a casino or sports betting. I use Bitcoin more actively in gambling if its price falls. You know, this is a very important psychological moment. Many people are in no hurry to use cryptocurrencies that have become more expensive for gambling. There is also a very important technical point: if the price of Bitcoin grows, then most likely the fees in the Bitcoin network will also grow. It turns out to be a double negative effect. However, this applies not only to the Bitcoin network, but to any popular blockchain network. As soon as the popularity of the network grows, the load on the network also grows, which means the fees in this network also grow.

Wexnident

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Quote from: shanz on August 15, 2024, 07:54:29 AM

~

Not really, no. At the very least I haven't given a single damn when trying to play about the value of my money. Usually, I'm concerned with the multiplier that the money I won with, e.g. I doubled, made half of my current balance stuff like that. Not to mention that whenever I deposit money, it's usually dependent on BTC's USD value. After that I'd start ignoring the general price of BTC whenever I play.

I will 100% swallow my words if it was, for instance, a case where I deposited in the 2013-2014 and the price jumped up to 50k. No matter what I'd give concern to the BTC in my gambling wallet lol. I'd stop gambling with it and instead sell it.

Nwada001

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Quote from: Aanuoluwatofunmi on September 17, 2024, 04:25:41 PM

Both bitcoin value and the casino gambling or our decision to gamble because of the bitcoin market trend, it should affect us in any way, because we are not to make our gambling decision base on the market volatility in bitcoin, this is what we are going to see in so many ways happened to us, when whenever its thoughts comes, we should always learn not to reason along, they are all independent of each other, you gamble, the market remains volatile in crypto and you have your fun in gambling.

First, I think what you are supposed to say is "shouldn't and not shout," since you are referring to gamblers not supposed to be affected by the market.

I also agree with you on that area. First, what the gambler wants to do is have fun, which is the most important thing for them at that moment.

The price of bitcoin or whatever coin they are going to use to place their bet is not going to be their problem since they can either buy that moment before placing their bet or they can just spend the existing amount; it can just be regarded the same way they treat fiat.

HONDACD125

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Quote from: Mate2237 on September 17, 2024, 03:28:56 PM

I will say yes because the nature of bitcoin price is not stable in one place for you to deposit and withdraw. If you are gambling, and in the that me to deposit was $60k of one BTC and you wanted to deposit about $40 as the rate of 0.00068 and the price of bitcoin reduce to $57 then the total about you wanted to deposit would also increase to 0.00070 or more to complete the $40 dollar deposit.

Therefore the changing of bitcoin price affect the gambler from but the withdrawal and the deposit.

The easiest and best way is to not use Bitcoin for gambling. We have stablecoins that are perfect for things such as gambling. Deposit using USDT and gamble without worrying about its price because it is not going up or down anytime unless something very bad happens and it leaves its peg but what are the odds of that, right?

I always prefer stablecoins when I'm gambling, one reason is what we are discussing right now which is the price because if you are using an unstable cryptocurrency, you will be worried about the market getting a dump because your money will lose value because you can't sell it immediately when you are gambling. Another reason for me to use stablecoins is the convenience in keeping a count. Suppose you are using Bitcoin, you will not know the dollar value of your balance all the time because it's shown in Bitcoin unless the platform shows the value is USD as well but it will keep fluctuating.

So I think it's better to use stablecoins for gambling purposes.

Cryptomultiplier

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Quote from: shanz on August 15, 2024, 07:54:29 AM

Well! when Bitcoin’s value decreases, I actually go with the idea to play. Although it can be risky, I see it as an additional opportunity to profit. By being lucky (just for one minute) in games like slots, I believe there’s a chance to win and double the balance when BTC’s value rises again. Btw, I follow strict responsible gambling measures to avoid any bad surprises or feelings of regret.
You know, I might be right or wrong (since I’m not predicting the future) Wink

but I consider playing as an entertainment activity rather than purely a side hustle. How about you? does the fluctuating value of BTC sway your mood and influence your decision to gamble or not, and why

I would like to relate this highlighted question to one current scenario we may be faced with in our personal lives daily of which may help clarify this stance, and that is, the inflation or hike in price of PMS or Diesel, may have as much effect on influencing our every decision to run our engines because it serves a purpose that soothes our life style and we just have to either find alternatives or afford it anyways.

Same applies to a gambler that bothers about the price of BTC when they know quite alright, that they ain't real and fulltime traders, that it is possible to gamble with other cryptocurrencies that ain't Bitcoin, that it is possible to adjust ones gambling income or stick to a budget, and it is possible to gamble without using cryptocurrency at all, instead accumulate wealth with crypto and gamble with Fiat.

alastantiger

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Quote from: Mate2237 on September 17, 2024, 03:28:56 PM

I will say yes because the nature of bitcoin price is not stable in one place for you to deposit and withdraw. If you are gambling, and in the that me to deposit was $60k of one BTC and you wanted to deposit about $40 as the rate of 0.00068 and the price of bitcoin reduce to $57 then the total about you wanted to deposit would also increase to 0.00070 or more to complete the $40 dollar deposit.

The casino that you're using to gamble don't they allow the deposit of stablecoin or it's just your preference to make use of Bitcoin. I just deposit stablecoin and gamble with them when the market is extremely volatile but for other instances that the market is stable and no too much fluctuations, I'll make use of Bitcoin or other cryptocurrency that the casino have available. I don't allow the market movement to determine if I was going to gamble or not. About the market fluctuations, we're ought to be used to that already, it's the way the market is that the price of Bitcoin and other cryptocurrency are never stable hence it isn't suppose to affect us when gambling. After depositing and the value of your deposit decreased, you should just top up and not allow the conditions of the market to spoil your fun. You can too deposit some additional coins as backup so you don't have to spend on transaction fees twice.

Aanuoluwatofunmi

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Both bitcoin value and the casino gambling or our decision to gamble because of the bitcoin market trend, it should affect us in any way, because we are not to make our gambling decision base on the market volatility in bitcoin, this is what we are going to see in so many ways happened to us, when whenever its thoughts comes, we should always learn not to reason along, they are all independent of each other, you gamble, the market remains volatile in crypto and you have your fun in gambling.

Mate2237

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I will say yes because the nature of bitcoin price is not stable in one place for you to deposit and withdraw. If you are gambling, and in the that me to deposit was $60k of one BTC and you wanted to deposit about $40 as the rate of 0.00068 and the price of bitcoin reduce to $57 then the total about you wanted to deposit would also increase to 0.00070 or more to complete the $40 dollar deposit.

Therefore the changing of bitcoin price affect the gambler from but the withdrawal and the deposit.

Topic: Does the changing value of BTC affect your decision to gamble in crypto casinos? - page 2. (Read 1011 times)