Topic: Does the changing value of BTC affect your decision to gamble in crypto casinos? - page 3. (Read 1011 times)

In my opinion, the change in the value of Bitcoin directly affects the willingness of the player to use it as a bet in gambling.

In a bull market, the value of Bitcoin is constantly growing. People see that the day before the value of the first cryptocurrency was less than today. The media actively writes about Bitcoin, predicting its even greater value in the future. All this encourages people to save Bitcoin and not use it as a bet in gambling. A completely different situation occurs in a bear market ...
The price of Bitcoin is low and people begin to lose hope that the price of the first cryptocurrency will grow in the future. Bitcoin begins to be perceived as ordinary money (and money with worse liquidity than ordinary fiat money).
All this encourages people to spend satoshi more actively. Including by betting in gambling in online casinos.

For those people who do have that sufficient experience about cryptocurrency and the potential of price recovery specially with Bitcoin then it would really be that least of concern for someone who do tend to gamble
on having those kind of conditions about fee spike. It would really be sometimes give out that kind of hindrance on making transactions or transfers just because the primary thing that you have in mind is to gamble.
Pretty sure that you wont really be thinking about investments on the moment or time that you do tend to gamble,right? This is why if you do make up some gambling session then it will really be better that you should allocated a budget so that on the time that you would lost then you will really be having no regret on the coins that you have lost over there. If you are someone whose been minding about accumulating Bitcoin or any tokens for long term holds or simply making up some connections in between gambling and investment, then you cant think off well plus having that kind of desperation on the time that you do play on which we know
that this is something which isnt really that good on what you've been doing. So better think wise and just allocate the sufficient budget for the said gambling sessions then you should really be just that fine.

People would surely not get bother if the fees is fine since for sure the only concern of people is the rise of fees when upon transferring of bitcoins to their accounts in casino.

But for volatility reasons? I guess same as you people who gamble using bitcoin will have less concern towards that situation since we all know that dumps is temporary and recovery will always come with bitcoin. Many people believe that bitcoin price will go up so provably if they like to use bitcoin then for sure that price would never be their main concern especially if the gambler is also a holder. But I can't take to leave my bitcoins to other third party platforms or casino since you know we might face other risk like hacking or scamming.

When gambling with Bitcoin I never evaluate its price changes but rather I think more about researching my bets and the odds. I believe that at any price if I can win I will profit and if I lose I will have to lose. But when I try to withdraw more winnings together, the lower BTC price prevents me from withdrawing. I think to myself that if I leave it now without withdrawing, I can make more money if the price of BTC rise up. But when I'm gambling, Bitcoin price changes don't stop me from placing bets. But I avoid it when the bitcoin network is congested. I try to bet with LTC or stable coins at that time.

"Pure BTC balance" huh? , or maybe we can just say when crypto casinos only supports Bitcoin alone. I won't call it as a trend but it's just that other coins are still new that time and back in time, there is no problem with the fees. BTC is already volatile even before, so a sudden change in its value should not shock or affect you. The ones that can affect you rather is if you lack in budget, you are busy with something, etc... . That " auto conversion " feature is actually a life saver for you who don't like volatility but if only they will auto convert our volatile cryptos into Stablecoins. I won't say fiat because they are already stable.

Before casinos supports other cryptos, they are firstly created by a developer and that developer can be separated from the project team but we can give a credit on them first and also to the people who use them because they can also be the ones who recommend it to the casinos if the casino owners are not into them because if they do, they will also think that it would be a good idea to add them. Not all are a fan of Stablecoins but even if they do, they can't completely ignore the price changes on them even if it was only small.

I only evaluate this when transferring crypto to the casino, after that, the transferred amount is automatically converted to the currency (which is usually the dollar exchange rate) of the casino, so the bitcoin fluctuation no longer matters, as the transferred amount has already been converted.

Interesting and can you maintain consistency when betting, thus accumulating more btc?

It's quite risk to apply such idea thinking you can increase the volume of your Bitcoin to make your value increase too when the price surge high. I prefer to only stake with the amount that I can afford to lose, so that if the bet gets busted, I wouldn't lose my Bitcoin investment. I always feel discouraged anytime I want to believe that gambling is a passive source of income or source to increase your capital. Although, it can help someone to archive something tangible but it all depends on luck.

That is normal if they change into other coins instead use Bitcoin to gambling because they feels that it is better to hold their Bitcoin than using for gambling. We must care with our Bitcoin so if we thinks that we don't have to use Bitcoin, we can use other coins such as stable coins or altcoin and decides to keep our Bitcoin.

Besides they can not afford to pay the high fees of the network, they decide to keep their Bitcoin in their wallet. That will be okay because that will be their decision and no one can force them to still use Bitcoin. The changing of Bitcoin price can change many people decision when they wants to playing gambling because they will consider many things before decide. So that will be up to them what coin they will use to gambling.

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.

Between that also, we have to note a very important point in this discussion, because I can see that the displayed value of your Bitcoin in the casino wallet in USDT seems to confuse many that the available asset have been Auto converted to USDT which is not through, because regardless of the crypto coin that you deposits be it Bitcoin etc, when it gets to the gambling wallet it display it dollar equivalent and that doesn't mean that the available balance is in USDT instead of the Bitcoin or any other cryptocurrency that you deposits.

I can't even remember the last time I made a deposit at a crypto casino using bitcoin. Since the last time that Bitcoin fee went up as high as and the transaction will still take some time before it will be confirmed,
 
I have changed my crypto deposit method to either LTC or USDT using any of the available networks that's cheaper, so the price of bitcoin doesn't even affect or bother me in time of making my gambling budget, unless the plan is to hold the BTC and I decide to spend some from it, which I might consider to gamble from; if not, I have other crypto to serve that purpose.

The price of Bitcoin doesn't affect my gambling routine at all, because I don't gamble with my savings, rather if I'm to gamble, I'm going to do this with weekly income. Therefore, if Bitcoin moves upside and down, I doesn't affect my weekly income in anyways, and as consequence there isn't any reason to affect gambling practice too. The priority of everyone should be to focus in investments and income first, and only when they are successful on this matter they should start thinking about increasing their gambling budget, for an example.

You would really be just that making yourself that numb when it comes into these kind of conditions specially if you are really that making yourself have been able to realize or accept it earlier
about into those coins that you would really be gonna tending to make use which it isnt really just that limited on Bitcoin itself but also into those coins which does have that value.
You wont really be having any potential problem if you are really just that making yourself be realistic on what you are really that dealing with. If you do saw that Bitcoin is your deposit
then it would really be just that wise that you do really need to only spend on what you can afford to lose. Nothing beats out if you do make yourself playing out without issues
and stress around.

Most crypto gamblers will usually prefer to use stable coins rather than taking bigger risks.
I say this based on each gambler having their own budget so for gamblers who have a budget under $20 will usually use stable coins if the BTC price starts to drop.
Personally I also don't always think about this because profit or loss I will still use BTC because whatever happens the budget for betting I consider money that has been lost.
But it still depends on my wishes because sometimes I also use stable coins when I feel as if my luck is only when using stable coins.

Bitcoin's performance in the market is not my concern when I'm playing because there is no guarantee on how I will perform in my betting session. If Bitcoin's price goes up and I win, that's good, as I have additional profit. If I win and it goes down, then I can use my winnings in my next session or withdraw and wait for the market to be better.

The market has been volatile ever since, but it should not affect your decision not to use it; my main concern is the price of the transaction fees. That's the time that I will have to pick other options because I cannot pay 10% of the value of my coin in my transaction.

Gambling is a fun when you understand that gambling is for fun, secondly their is something we need to understand in gambling most, because its obvious that gambling when people is not financially buoyant gamble and lose in gambling they became aggressive, so I have noticed that sometime too they became depressed, and such is not supposed to happen, but if rich people gambled and lose, they let everything go, but poor person will not let it go, instead of that it caused harm to him or her, do you know that some people borrowed to gamble, whereas theirs no guarantee for gambling. In summary what I mean is that if you have the mindset of endurance don't partake in gambling knowing that theirs no assurance in gambling.

You talk like during when the values of Bitcoin depreciates it serves moments to win when gambling with the crypto casinos.

Quite funny of your decision to have that view as an avenue to accumulate Bitcoin at the course your gambling with the crypto casinos even when admitting that wining in gambling is strickly on luck and it doesn't matter if its is slots, cards or sports games.

For me, when the value of Bitcoin falls, it whispers me to take some break in the crypto casino gambling because I gamble based on my income so, when there is such depreciation of Bitcoin, clearly it affects my profits so I would have to take some step back wards from gambling so that I can keep my holding until the market increases again else there is possibilities to run an empty wallet as the market keep depreciating and I am same time gambling with remainder of my Bitcoins.

Instead of gambling more at such Dip course, I would rather prefer to gamble with the fiat definitely some free funds that is not attached to my Bitcoin investment at the moment.

It's good that you follow responsible gambling habits as you claim, but I still doubt you adhere to them because your intention of gambling is wrong from the onset. You do not mix gambling with investing, the moment your gambling is orchestrated by your desire to gain more money simply because Bitcoin is not yielding at the moment, you might make mistakes that you will regret. Money should never be in our minds while we gamble, gambling should be for fun and should be done with an open mind. The moment you are money-inclined, you are gradually giving in to emotion which will never end anywhere good.

I advise that you focus on your Bitcoin investment and be contented with your earnings, all days can't be good. And if you know how to handle Bitcoin investment properly, you might not need any additional risky activities like gambling. You will only need to be patient to invest at the right time and wait when the market is bearish to continue when bullish. I am certain that this is more honourable and will preserve your money than committing it to gambling just because Bitcoin is falling. But it's another ballgame if you are interested in gambling, after all, your focus will be on it.

Usually newbies do that since they might be affected on each happening in the market. But for those who experience already a lot of volatile movement of bitcoin for sure they will never give any shit about the price of bitcoin. Since after all they have this on their wallet and for sure they use it despite of whatever price of bitcoin currently show up to them.

The reason why gamblers change or decide to gamble with alts is either they can't afford to lose their btc or there are certain times that network fee is so high so those people don't have any choice but to use another alts for a while since for deciding to do that they could able to continue their gambling activities and they don't get bothered by any issues currently happening on bitcoin.

Not at all, BTC value doesn't effect my desire to gamble at any casinos. That value is just the figures  which  have no power to beat feelings reaped out by me from gambling in casinos. I know that there are many people who put more value on figures than on life but luckily I'm not from their class.  I'm a wild guy who gamble more than often without concern over value of BTC.