Yeah I agree if you do not compare with fiat all the time and purely look at crypto amount than its a good way to stick to crypto gambling.
I build my 0.003BTC up to 0.035BTC in sports betting past 7 days. Not that big amount but we all know how much value 0.035 was x amount of time ago. All profits made in crypto now have a potentially good value in future
Topic: Fiat or crypto betting in bear market? - page 5. (Read 1241 times)
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.
And you never know when the prices will go up. You can lose some coins betting in the evening and in the morning wake up to Bitcoin being worth $1000 more.
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?
Losing fiat is more better than losing crypto coins as per me. My be not today it would be worth but in future or coming time crypto will be highly valuable and most usable as well. So something like BTC or ETH if you lose today you are losing quite big amount as compared to future value.
I see no sense in your words. Does it really matter in wich cyrrency you bet on sropts? I prefer both of it because for me it really doesn't matter. However a lot of fiat bets requres KYC and at this time there are a lot crypto bets without KYC. So I think it depends personally for everyone.
Well sometimes it can be put into consideration especially if the gambler doesn't have that much to begin with. Though crypto gamblers wouldn't really notice the difference in conversion i think. Personally i'd rather keep my coins and use regular currencies for things like gambling.
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.
I agree that bear market isn't good for gambling...
The problem will be that everytime you lose you'll tell yourself "damn I shouldn't have played around with BTC it'll be worth so much more in the future, I've lost what will maybe become thousands of $" and when you win you'll tell yourself "yeah but it's worth only that much right now..."
So either wait a bit to gamble or stop comparing crypto to fiat! If you're able to consider crypto as its own then you can gamble with it without fearing being stupid because of the bear market.
I see no sense in your words. Does it really matter in wich cyrrency you bet on sropts? I prefer both of it because for me it really doesn't matter. However a lot of fiat bets requres KYC and at this time there are a lot crypto bets without KYC. So I think it depends personally for everyone.
You are going to be gambling with money after all, so it does not matter if you are using fiat, or crypto, or any other thing that can be considered as money.
The only bad thing is that you are losing a bunch of bitcoins if you are betting/gambling with considerable amounts of money.
That is the only bad part of it
The only bad thing is that you are losing a bunch of bitcoins if you are betting/gambling with considerable amounts of money.
That is the only bad part of it
I think it's different if we use fiat or crypto as betting because if you use crypto, you can use many coins as the option and you can buy some amount of coins with limited money. For example, if you have $100 and you purchase dogecoin, you can get almost 46735,75906369 dogecoins, and you can use it all in one-time or split into several parts, and you can play for one day only or a few days. When you lose 10k dogecoin, you still have the rest amount, and you can come back in the other days. And if you use the money, let say $100, you still use and lose $100, you are losing all the money.
But yes, in the end, we will lose a bunch of bitcoin if we choose bitcoin as the bets and well, we cannot recover that lose because we need the luck to win the game.
You are going to be gambling with money after all, so it does not matter if you are using fiat, or crypto, or any other thing that can be considered as money.
The only bad thing is that you are losing a bunch of bitcoins if you are betting/gambling with considerable amounts of money.
That is the only bad part of it
The only bad thing is that you are losing a bunch of bitcoins if you are betting/gambling with considerable amounts of money.
That is the only bad part of it
I personally have left bookies for fiat for a long time because of security concerns made by the government, so I have no problem if the crypto market is up and down, because gambling in crypto is my alternative to be able to gamble without worrying about local security.
For sure it is good to make our own way. Government in some places don't allow some particular games and I think in those places instead of getting with fiat people can gamble with the crypto currency id they are facing some legal issues and problems so no worries just try not to enter any such bad situation but try to gamble if you want to appear as good gambler. And you never know when the prices will go up. You can lose some coins betting in the evening and in the morning wake up to Bitcoin being worth $1000 more.
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?
If you're afraid of the price fall, what's the point in betting at all? The point is making money. If the websites gave 1-10k satoshis for betting again like they used to years ago through faucets, believe me I'd bet all day long until I'd be able to withdraw.
Would you rather deposit $100 on a betting website worth 0.01BTC or deposit $100 when BTC's price is down to $1k and have 0.1BTC to play with? The second option is more appealing to me.
I personally have left bookies for fiat for a long time because of security concerns made by the government, so I have no problem if the crypto market is up and down, because gambling in crypto is my alternative to be able to gamble without worrying about local security.
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.
And you never know when the prices will go up. You can lose some coins betting in the evening and in the morning wake up to Bitcoin being worth $1000 more.
On the other hand, we could say that if you win coins today, your win could be worth even more tomorrow, so things are always in balance. If you lose fiat this fiat and believe in cryptocurrencies, why not spend fiat on coins today and don't bet anything?
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.
I personally don't mind gambling when the market is down like this, I just apply different bet sizes.
Now I can spend a little bit more funds in Bitcoin for example, then I would when the price was still higher than today.
Since I've started betting in cryptocurrency casinos, I've never even deposited to a fiat casino.
I don't want to wait days until my withdraw is 'reviewed' or whatever.
Now I can spend a little bit more funds in Bitcoin for example, then I would when the price was still higher than today.
Since I've started betting in cryptocurrency casinos, I've never even deposited to a fiat casino.
I don't want to wait days until my withdraw is 'reviewed' or whatever.
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.
I dont see any huge crash that happened in the past 2 weeks. You need to get used to the price of BTC to drop 20-30% and that's not a huge crash yet. It doesnt matter if its bear market or bull. Just play and don't mind with the exchange rate. If you keep on looking on the exchange rate you will not enjoy gambling because you are worried that the price might continue to go down. Focus on increasing your holdings not on the exchange rate. 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.
I think it is much better betting right now with bitcoin considering you have a chance of not only winning and making up the difference but also if you lost you will lose less in fiat if you care about that.
This is right, the feeling isn't like that much but if you are long for bitcoin you will regret if you ever lose such amount in bitcoin. I gamble with bitcoin regardless of the market. There's no way to gamble in fiat that requires no KYC if you are into online gambling and also here in my country, online gambling isn't allowed which is only considered for fiat transactions but for crypto's, they aren't considering it as for no ruling about it.
I think it is much better betting right now with bitcoin considering you have a chance of not only winning and making up the difference but also if you lost you will lose less in fiat if you care about that.
I personally gamble for getting the bitcoin number higher or at least have fun while doing it so it doesn't matter to me if I gamble with fiat or crypto since the outcome is still the same, if I am not happy with what I do, I must be doing something wrong.
However, if I was asked which one is better betting fiat and getting more fiat or betting crypto and getting more crypto I would prefer crypto in this market. Why ? Because if you bet 1 bitcoin and win 0.2 bitcoin so you have 1.2 bitcoin you not only make up the loss in the market but also will have more fiat when the price goes back up.
I personally gamble for getting the bitcoin number higher or at least have fun while doing it so it doesn't matter to me if I gamble with fiat or crypto since the outcome is still the same, if I am not happy with what I do, I must be doing something wrong.
However, if I was asked which one is better betting fiat and getting more fiat or betting crypto and getting more crypto I would prefer crypto in this market. Why ? Because if you bet 1 bitcoin and win 0.2 bitcoin so you have 1.2 bitcoin you not only make up the loss in the market but also will have more fiat when the price goes back up.
Correct. I would take same approach as well, but only with crypto I purchased during the crash. If you for example still hold coins bought at 10k+ its to risky to bet with. You can win of course but if you loose you loose your initial purchase amount and not todays price cause you bought much higher.
So I would gamble with crypto as well but only with fresh purchased coins.
I think it is much better betting right now with bitcoin considering you have a chance of not only winning and making up the difference but also if you lost you will lose less in fiat if you care about that.
I personally gamble for getting the bitcoin number higher or at least have fun while doing it so it doesn't matter to me if I gamble with fiat or crypto since the outcome is still the same, if I am not happy with what I do, I must be doing something wrong.
However, if I was asked which one is better betting fiat and getting more fiat or betting crypto and getting more crypto I would prefer crypto in this market. Why ? Because if you bet 1 bitcoin and win 0.2 bitcoin so you have 1.2 bitcoin you not only make up the loss in the market but also will have more fiat when the price goes back up.
I personally gamble for getting the bitcoin number higher or at least have fun while doing it so it doesn't matter to me if I gamble with fiat or crypto since the outcome is still the same, if I am not happy with what I do, I must be doing something wrong.
However, if I was asked which one is better betting fiat and getting more fiat or betting crypto and getting more crypto I would prefer crypto in this market. Why ? Because if you bet 1 bitcoin and win 0.2 bitcoin so you have 1.2 bitcoin you not only make up the loss in the market but also will have more fiat when the price goes back up.
Crypto betting is always better and safe when compared to fiat but if you consider about the value of your crypto holding got decreased then you should stop gambling or just gambling with fiat.But for the people who just want to deposit may chooce crypto over fit always.
For me it would depend on how well you are at gambling. If you're doing ok then stick with crypto to get the profits in the denomination. If you're great at it, then with these depressed prices go to fiat and then convert to crypto at a discount. Things are rough, been almost a year on the downturn, but eventually the added coin that you pick up from your fiat winnings will come back and give you a good return. Who knows when the bleeding will stop, maybe beginning of next year. You sound like you have a good strategy though, just don't lose the majority of your crypto on the bets.
I definitely prefer crypto gambling when the prices are plummeting. And there's some good information here about which books have the lowest margins. But if btc hits $3k then I'm going straight to the Roulette table!
IMO, it's quite risky especially when market is on red but if you're convert into fiat in haste, I think it's not a big problem.
Personally I'm prefer to gamble / invest with fiat on other investment platform until the market back on green
Jump to: