Fiat or crypto betting in bear market? - page 3.

STT

legendary

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I invested when it was at around $200. I had no intentions of making money, I just believed ( and still am ) in technological advantages over fiat currency. Its much more convenient to use btc ALREADY and its still in its early stages of adoption. I check out at my local store using BTC, I fuel my car using btc, I play blackjack & poker with bitcoins over at vegascasino.io and use their juicy tasty deposit bonuses at their full potential -all in all just enjoy my life. It's fun and hassle-free. I dont really care much about the price spiking up and down - I know that we all will be winners eventually.

2012 was eons ago in relative price terms for most places. Dollar hasnt really gone up in price or done well or returned alot to people who held it, where BTC has gained alot in its general economy and development over time.
The spikes make it hard to follow but I would only really keep around the change I have left over from usage. I'm not the kind of person to recommend people keep back large amounts and just hope, because we can swing down and back up easily over what time frame nobody is sure.

I dont think betting is in a bear market overall. Its possible its developing various markets, I cant say which directions will be most positive but gaming in general, involving money or not is bullish imo

maydna

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It is better to not gamble at this moment, and it's better to save your money for another thing. We don't know when it's over and with a stop for playing gambling for a while, we can learn about controlling ourselves and I think it will use for ourselves too. But you could still gamble if you want, and I suggest you use the altcoin than the bitcoin because the altcoin is cheap right now.

Johnzky

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Quote from: darkangel11 on November 24, 2018, 11:36:16 AM

Whenever crypto market goes into a state of depression I usually exit and forget about it for some time. I don't want the depression to influence my actions and my mood, so I don't check the price, don't sell any cryptocurrency and don't gamble with it. If you hold cryptocurrency bought earlier this year don't sell it and don't spend it because you'll get much less than you should.

But what is the title asked about betting and you only need to choose between the two

Fo me i rather use fiat than my precious coin,because in any chance cryptocurrency will grow and we might see in a minute my crypto grow hugely.and i will not be having a chance to buy again if i use this for betting and suddenly lose that moment

SO ITS Clear that i choose Fiat instead of crypto betting this bear market

Pattart

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Quote from: mersal on December 27, 2018, 02:54:05 AM

Crypto always,if you love to play in the gambling sites,and we also not much options to choose for the betting with fiat in my country so I always go for the crypto gambling sites whatever the market will be.I use the fiat money to crypto exchange whenever I want to gamble so there won't be much difference for me to play in crypto or fiat.

The problem is not the difficulty of gambling with bitcoin or fiat, but if you gamble with bitcoin when it is bearish,
of course the value of bitcoin can fall and hurt you even if you profit in gambling?

imstillthebest

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Quote from: neonshium on December 27, 2018, 08:01:18 AM

Quote from: upsidedown75 on December 27, 2018, 05:59:20 AM

Quote from: mersal on December 27, 2018, 02:54:05 AM

Crypto always,if you love to play in the gambling sites,and we also not much options to choose for the betting with fiat in my country so I always go for the crypto gambling sites whatever the market will be.I use the fiat money to crypto exchange whenever I want to gamble so there won't be much difference for me to play in crypto or fiat.

It is good to stick within crypto for gambling purposes but I like to recommend you to go for cheaper altcoin for your gambling rather than sticking within bitcoin for gambling. Because by considering the value of bitcoin, gambling with it might lead to big losses whereas you can experience same level of gambling by engaging with any other cheaper altcoin.

I'm just talking in the point of fun loving gambler not profit seeking gambler. For a fun loving gambler, gambling with any crypto must be the same regardless of what he will be losing or profiting.

That must be the big advantage for crypto based gambling.

You can enjoy all your gambling for relatively cheaper prices. Once you get into gambling you will forget that you are gambling with bitcoin or with any other shitcoin. But, you can enjoy your gambling as before you are doing with bitcoin. This is my personal experience because I behave like this once I enter into gambling.

I'm not sure how other people will feel or behave when they are gambling with some altcoins compared to how they are gambling with bitcoins.

I will still prefer gambling with bitcoin more than alts because of the profit that i could get . i dont also use alts that much , that is why i will always stick with bitcoin gambling whatever the status of the market is .

I do also use fiat when gambling but purely outisde or in real life gambling because it is now rare to find an online gambling site that accepts fiat deposits ( e.g credit/debit cards ) . we are now in a new world where e currencies such as crypto are now getting popular

STT

legendary

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Quote

Most people when they gamble or spend Bitcoins, they do it at the current market-rate.

Nobody is like, "I will only gamble $1 worth of BTC today because in 1 year that BTC will be worth 10x as much and I don't want to risk anymore than $10 on this roll".

I accidentally made or gained a small amount just because I left money from the bets in a wallet and didnt touch it for years. It wasnt cash, it was just my betting tokens stuff for later so I was distracted and forgot about it for a while. Lucky I chose a good bet site and they stuck around and kept it safe for me.

Cant even remember now if I bet and did well and withdrew more then I put in or the other way round but either way the appreciation in BTC over time meant I was up. I think choosing to take part in the general economy of BTC was a good idea in the low points especially, like now we are down a bit in pricing vs a year ago. Its ironic that interest now could somehow appear positive in retrospect, I dont suggest just being involved for this reason alone but if you are anyway then the low points of interest by the wider world when crypto is growing overall seems to easily prove positive over time

Naida_BR

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Quote from: mallorcagold on November 24, 2018, 08:48:58 AM

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.

Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

It depends. If you have bought your crypto in the bull market I would just HODL and wait to recover the loses. In this way, I would go with Fiat betting. If i lose it won't give me so much pain in my pocket.

If I am facing a bear market, I would buy the cheapest crypto that I will use it for my gambling. If the market will go bulish, I will have profit from the up of the market and a double profit if I have made a profit from my gambling play.
On the other hand, If I lose the coins I have bought for gambling, I wouldn't mind so much because It didn't cost me that much.

I hope you can get my point and can help you decide!

Dread Pirate Roberts

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maybe it won't feel anything when price it's going down or not . because it is down 20% in the market
and you still can get 100% in the gambling then you will still feel profitable. the difference is actually the profit that gets is not optimal.

neonshium

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Quote from: upsidedown75 on December 27, 2018, 05:59:20 AM

Quote from: mersal on December 27, 2018, 02:54:05 AM

Crypto always,if you love to play in the gambling sites,and we also not much options to choose for the betting with fiat in my country so I always go for the crypto gambling sites whatever the market will be.I use the fiat money to crypto exchange whenever I want to gamble so there won't be much difference for me to play in crypto or fiat.

It is good to stick within crypto for gambling purposes but I like to recommend you to go for cheaper altcoin for your gambling rather than sticking within bitcoin for gambling. Because by considering the value of bitcoin, gambling with it might lead to big losses whereas you can experience same level of gambling by engaging with any other cheaper altcoin.

I'm just talking in the point of fun loving gambler not profit seeking gambler. For a fun loving gambler, gambling with any crypto must be the same regardless of what he will be losing or profiting.

That must be the big advantage for crypto based gambling.

You can enjoy all your gambling for relatively cheaper prices. Once you get into gambling you will forget that you are gambling with bitcoin or with any other shitcoin. But, you can enjoy your gambling as before you are doing with bitcoin. This is my personal experience because I behave like this once I enter into gambling.

I'm not sure how other people will feel or behave when they are gambling with some altcoins compared to how they are gambling with bitcoins.

hahay

legendary

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For some reason I will be more active in gambling in crypto when the market is crashing, I don't plan this incident and it keeps repeating when the market crashes and I unconsciously become more active in gambling. Although it is still difficult to make a profit, I will still gamble in crypto and will not return to gambling in fiat bookies.

upsidedown75

legendary

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Quote from: mersal on December 27, 2018, 02:54:05 AM

Crypto always,if you love to play in the gambling sites,and we also not much options to choose for the betting with fiat in my country so I always go for the crypto gambling sites whatever the market will be.I use the fiat money to crypto exchange whenever I want to gamble so there won't be much difference for me to play in crypto or fiat.

It is good to stick within crypto for gambling purposes but I like to recommend you to go for cheaper altcoin for your gambling rather than sticking within bitcoin for gambling. Because by considering the value of bitcoin, gambling with it might lead to big losses whereas you can experience same level of gambling by engaging with any other cheaper altcoin.

I'm just talking in the point of fun loving gambler not profit seeking gambler. For a fun loving gambler, gambling with any crypto must be the same regardless of what he will be losing or profiting.

maydna

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Quote from: Kang Bahar on December 26, 2018, 04:52:52 PM

Precisely for some reason, I didn't even dare to use fiat money to gamble, though both have a big risk. I still use crypto (especially dogecoin) for the gamble. No matter the market conditions under any circumstances.

We have the same coin for the bets. I use dogecoin too because this coin was cheap than the other coins and the time of the transaction is fast with the cheaper fee. For 0.01 btc, I can get much of dogecoin and I can hold in the gambling site while I can use some amount to bets. But if I want to change the coin, I choose litecoin than bitcoin. For me, gambling with crypto is the best thing that I can do and I don't use fiat for betting because I don't have to deposit my money to that gambling site.

adaseb

legendary

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Quote from: Johnyz on December 26, 2018, 05:24:33 PM

Not to gamble at all because i know the risk of gambling and in bear market, I should focus on investing than to gamble. The value of the coins that you will use is the same with fiat money because of cheaper value of cryptocurrency so i think it still better to use fist money because its value is not pumping very high. For instance, if you gamble .1BTC at a 4000$ level, the cost is already high but when the market pumps up to $5k level again, you’ve already lose a lot because you spend your bitcoin at a lower rate.

Most people when they gamble or spend Bitcoins, they do it at the current market-rate.

Nobody is like, "I will only gamble $1 worth of BTC today because in 1 year that BTC will be worth 10x as much and I don't want to risk anymore than $10 on this roll".

Same with purchasing Goods and Services, nobody says "I will overpay for this gift card by 50% because BTC will lose 90% of its value in 1 year".

This is why back in 2012 or so ,people were betting usually > 1 BTC because it wasn't worth as much. And no-a-days you rarely have a 1BTC bet being made.

mersal

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Crypto always,if you love to play in the gambling sites,and we also not much options to choose for the betting with fiat in my country so I always go for the crypto gambling sites whatever the market will be.I use the fiat money to crypto exchange whenever I want to gamble so there won't be much difference for me to play in crypto or fiat.

Johnyz

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Not to gamble at all because i know the risk of gambling and in bear market, I should focus on investing than to gamble. The value of the coins that you will use is the same with fiat money because of cheaper value of cryptocurrency so i think it still better to use fist money because its value is not pumping very high. For instance, if you gamble .1BTC at a 4000$ level, the cost is already high but when the market pumps up to $5k level again, you’ve already lose a lot because you spend your bitcoin at a lower rate.

Kang Bahar

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Silent Reader~

Precisely for some reason, I didn't even dare to use fiat money to gamble, though both have a big risk. I still use crypto (especially dogecoin) for the gamble. No matter the market conditions under any circumstances.

Dreamchaser21

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Quote from: supermine on December 07, 2018, 04:33:49 AM

Quote from: bitcoinisbest on December 06, 2018, 07:00:41 AM

Quote from: 20kevin20 on November 30, 2018, 11:48:13 AM

It makes more sense to me to bet when the prices are down. As the prices go down, a dollar worth of BTC means more satoshis than it meant before the price fall. That means you can bet less and make more BTC for when the prices spike back up. But I would only gamble if I have already lost money through the price fall.

It under assumption that you will play and you will win then it might hold true as you get more satoshi and in future once price rises you make good money. But we know gambling is mostly losing the money and playing with satoshi itself is huge risk and if you lose the game and price of btc rises you will end up in double your losses which is not you might want to have.

If they don't want to fall into this situation then they need to continuously change their amount to fiat and crypto when they are coming to playing.But they also have other advantage that when the prices started to increase they can get more out of it so when someone see it interms USD value they only convert when they are going to bet.

They can only realize the value of that money if they will convert it into fiat money, but then again whatever cryptocurrency you bet to gamble it is still the same amount of cryptos, the only difference is that the value of that coin is increasing or decreasing. If you don't want to spend cryptos in gambling then better to use fiat money which is more stable and less in value compare to cryptocurrency. If you really want to gamble with your bitcoin, then you might lose a big chance of making profit when the bull market comes again.

bosta20

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Quote from: mallorcagold on November 24, 2018, 08:48:58 AM

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.

Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

Seriously the markets situations now are terrible! I have lost some $$$ but all is fine! My strategies currently is simple.....i have positioned myself in some good altcoins! So currently i just use fiat to bet!

coolcoinz

legendary

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Quote from: Patatas on December 08, 2018, 11:48:17 AM

Depends how you value cryptos. 0.05 BTC is 0.05 BTC if you don't convert them into fiat. If you use USD/EUR to value your bitcoins, you should obviously be managing your rolls according to the latest rates. This is indeed fiat betting. You are using cryptos as a source to bet for fiat. The question seems rhetorical to me.

Although I fully understand why people chose to say 1 BTC is 1 BTC in the bear market, I don't agree with the statement itself. You can ignore the fiat price in order to distance yourself from the falling value in fiat, but it won't change that ultimately your Bitcoin is meant to be converted into goods. You may not want fiat, but you also don't want to hold Bitcoins all your life. You want that car, house, school for your child, dresses for your wife. Lower fiat price means that you get less things for your coins.

Patatas

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Depends how you value cryptos. 0.05 BTC is 0.05 BTC if you don't convert them into fiat. If you use USD/EUR to value your bitcoins, you should obviously be managing your rolls according to the latest rates. This is indeed fiat betting. You are using cryptos as a source to bet for fiat. The question seems rhetorical to me.

Topic: Fiat or crypto betting in bear market? - page 3. (Read 1222 times)