Friendly advice/warning about gambling in this market - page 2.

akram143

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Quote from: goaldigger on January 09, 2019, 11:02:15 AM

The value makes online casinos a lot difficult to deal with and I am really agreeing to this. BTC has its own problems that needs to be solved first before using. Do not try to risk yet your resources just for a tiny winnings in gambling. If you can be mpre patient enough before trying, you can profit more with less worries.

Water we are saying the gambling uses will not withdraw from their food because they are put a lot of money in gambling still they are getting your profit they will be definitely addicted to Tablet it cost lots of problems for web but what we are doing is the most not answerable question for all gambler's.

goaldigger

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The value makes online casinos a lot difficult to deal with and I am really agreeing to this. BTC has its own problems that needs to be solved first before using. Do not try to risk yet your resources just for a tiny winnings in gambling. If you can be mpre patient enough before trying, you can profit more with less worries.

LogitechMouse

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Quote from: darkangel11 on December 07, 2018, 02:18:04 PM

Don't gamble with Bitcoin. When you buy it in this market it's already a huge gamble. When you gamble with a crashing coin it's like playing twice every time. Like you were rolling and the person holding your money would be rolling for you once again and if one of you loses there will be less money to put on the table the next time.

Yeah I think its more risky if you gamble using Bitcoin and other cryptos because we don't know when will it rise or drop but I think what is important is you accumulate more Bitcoin and forget its USD value. Many believe that Bitcoin will rise up maybe next year so what is important for now is that you win.

wxa7115

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Quote from: justdimin on November 23, 2018, 02:21:03 AM

True, with the current volatility of the market as it is now, the best bet is just to be using fiat.
At least, with your winnings, if you manage to anyway, you can easily buy back into bitcoin eventually until the coasts clear.

Certainly as things are going now, there is a huge possibility we might get to see bitcoin go down the more in the short term towards the end of the month, but all the same, it is the market, and we all know how volatile it can be, which is why I agree as well with the OP, that at this point in time, it is best to even stay clear of gambling with bitcoin.

I really do not see the difference, it is true that with the crash in the price of bitcoin the profits that you will receive out of your gambling activities are going to be lower in terms of fiat, but you're still going to receive the same amount of bitcoin, maybe I'm just to used to just think in terms of bitcoin and not in fiat anymore but the only thing that you need to do if you are disappointed with your fiat profits when you are gambling with cryptocurrencies is to wait for the market to recover.

Which is something that you will do anyway if you are a long term holder, so that is not really a problem for me but I can understand why that will be troublesome for someone which likes to get in and out of the market regularly.

hahay

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Agree, maybe the solution is that you can bet on casinos that don't require long results like sports matches. I also usually only play blackjack and poker if the market is in a downward trend and usually I am lucky there. For the time being I haven't started yet but will play it soon besides sports betting.

syamster

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Quote from: Thanasis on December 07, 2018, 08:58:03 AM

Gambling is always risky and when it comes to crypto gambling they have extra risk that prices of cryptos can fall any time so think before entering into any sites.Or just convert your crypto into stable coins after you got winning.

Quote from: ?? on ??

I won't call a advice . More like personal experience , when I launch my Vegas Casino on my mobile or using pc to play a game of blackjack . I only focus on few things

Get 21 points on the player's first two cards
Reach a final score higher than the dealer without exceeding 21 or
Let the dealer draw additional cards until their hand exceeds 21.

If I have good lucky winning streak . I try to keep thing short because i believe in gambling moderately but if i handed bad pair of card . I just fold it and wait for next game . Just enjoy and keep your thought about the game in front of you . Other then that, it only serve as distraction for you

Did you post the same content somewhere else too? Because it got a feeling like I read it already before.

To be honest I have seen this post for the first time and I am happy to see such interesting topic to talk about. For me risk is part of life and it is our duty to take such risk for making our life good. It is bad for those who have no experience in it but it’s good for them who are good in specific game like dice cards and some more games.

darkangel11

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Don't gamble with Bitcoin. When you buy it in this market it's already a huge gamble. When you gamble with a crashing coin it's like playing twice every time. Like you were rolling and the person holding your money would be rolling for you once again and if one of you loses there will be less money to put on the table the next time.

KingZee

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Check your coin privilege

Quote from: Thanasis on December 07, 2018, 08:58:03 AM

Gambling is always risky and when it comes to crypto gambling they have extra risk that prices of cryptos can fall any time so think before entering into any sites.Or just convert your crypto into stable coins after you got winning.

Stable coins? And which ones would that be?

Even the ETHorses are running away from their stables at this point.

For unexperienced people converting to anything will probably only worsen their losses. Converting to fiat would be a good option, but it's pointless if they're going to still gamble with their money in the close future, might as well just hodl and stack any winnings.

Thanasis

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Gambling is always risky and when it comes to crypto gambling they have extra risk that prices of cryptos can fall any time so think before entering into any sites.Or just convert your crypto into stable coins after you got winning.

Quote from: ?? on ??

I won't call a advice . More like personal experience , when I launch my Vegas Casino on my mobile or using pc to play a game of blackjack . I only focus on few things

Get 21 points on the player's first two cards
Reach a final score higher than the dealer without exceeding 21 or
Let the dealer draw additional cards until their hand exceeds 21.

If I have good lucky winning streak . I try to keep thing short because i believe in gambling moderately but if i handed bad pair of card . I just fold it and wait for next game . Just enjoy and keep your thought about the game in front of you . Other then that, it only serve as distraction for you

Did you post the same content somewhere else too? Because it got a feeling like I read it already before.

dead_m92

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Yeah that is the best thing to do.

Better ot join all those casinos that are accepting your Visa/mastercard or any other fiat gateway that is not related to cryptos.

what if bitcoin goes back to $6000 in a few weeks?

Quote from: bigmaster23 on November 15, 2018, 02:10:03 PM

Thanks for informing us mate, probably even if you won on gambling there's nothing left to be called as profit because the btc could turn against your winning streak.

I will only gamble on fiat for this week or so.

raven7886

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Nobody cares if you have millions of dollars worth of crypto. The point of advice here given by OP is that your millions of dollars might worth less even if you win in this market so don't be alarmed. You can bet a million dollars into something and win and get a million dollars back, it is all because of the market change.

I think the help was given with no ill manner, it was to help people realize that when the markets fall you should focus on the amount of bitcoin you gamble with instead of the dollar value of how much you gamble, if you look at the bitcoin number instead of the fiat you will realize that you did won, if you check the fiat number you would think the company is trying to scam you somehow. That is why you should be really extra careful during these types of markets while gambling.

maydna

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Quote from: drlukacs on November 23, 2018, 02:43:58 PM

Thank you for your advice but I think not only gambling with Bitcon only cause not only Bitcoin's price is falling at the moment, if you guys are going to use another cryptocurrency to gamble so it'll be the same. Should we use another cryptocurrency to gamble or shouldn't use cryptocurrency to bet at this time?

I think while the other crypto is not too expensive, we can use it for gambling because if we want to deposit to the gambling site, we need to have the coin and if we don't have, then we need to buy the coin. So when we can buy the coin at the cheap price, we can get a lot of amounts and we can use it for playing gambling. I think when bitcoin price is falling, people will still playing gambling and they can buy much bitcoin and hold some bitcoin in their wallet and use the other amount for playing gambling.

drlukacs

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l0tt0.com

Thank you for your advice but I think not only gambling with Bitcon only cause not only Bitcoin's price is falling at the moment, if you guys are going to use another cryptocurrency to gamble so it'll be the same. Should we use another cryptocurrency to gamble or shouldn't use cryptocurrency to bet at this time?

supermine

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Quote from: justdimin on November 23, 2018, 02:21:03 AM

Quote from: leowonderful on November 15, 2018, 02:24:52 PM

This is actually one of the reasons why I’ve completely stopped gambling as of recently, from playing games like dice to betting on eSports matches. I do have some fiat accounts with cash on them, so I’m going to temporarily bet on my fiat accounts while this little battle boils over. I haven’t moved a penny of my coins since the big drop yesterday was messing with the exchange prices sites like Bitrefill were charging for Amazon Giftcards as well; it’s unfortunate that the BCH battle’s affecting BTC in this manner, but I’m sure it’ll be over in a minute.

True, with the current volatility of the market as it is now, the best bet is just to be using fiat.
At least, with your winnings, if you manage to anyway, you can easily buy back into bitcoin eventually until the coasts clear.

If it is fiat they why not bitcoin,I think it will be more excited when we are betting with bitcoin like gambling inside a gambling,maybe the prices of bitcoin will goes to moon after we won so it is like a jackpot hit but it can't be done when we do bets with fiat and buy the bitcoin later equivalent to USD value.We are risking our money anyway by gambling it so the price changes is not considerable for the true gamblers.

rickadone

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Hey OP, you really do have a lot of point there mate. Right now, the bitcoin market is not even smiling at all, and certainly, this is not the time anyone would want to be betting with bitcoin as a result of its volatility and considering the fact that you will even end up betting more bitcoin in its equivalence to the USD anyway.

Nonetheless, whether the market is going down or not, it is always imperative that when it comes to gambling, a little bit of caution should always be in place, and trying to monitor the market movement also helps as well.

justdimin

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Quote from: leowonderful on November 15, 2018, 02:24:52 PM

This is actually one of the reasons why I’ve completely stopped gambling as of recently, from playing games like dice to betting on eSports matches. I do have some fiat accounts with cash on them, so I’m going to temporarily bet on my fiat accounts while this little battle boils over. I haven’t moved a penny of my coins since the big drop yesterday was messing with the exchange prices sites like Bitrefill were charging for Amazon Giftcards as well; it’s unfortunate that the BCH battle’s affecting BTC in this manner, but I’m sure it’ll be over in a minute.

True, with the current volatility of the market as it is now, the best bet is just to be using fiat.
At least, with your winnings, if you manage to anyway, you can easily buy back into bitcoin eventually until the coasts clear.

Certainly as things are going now, there is a huge possibility we might get to see bitcoin go down the more in the short term towards the end of the month, but all the same, it is the market, and we all know how volatile it can be, which is why I agree as well with the OP, that at this point in time, it is best to even stay clear of gambling with bitcoin.

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Quote from: el kaka22 on November 19, 2018, 06:08:22 AM

Yeah, I understand that you put in 20 dollar bet to some football match and you won and you get 19 in return even when you win. Which sounds horrible and weird and we all know the reason because it bitcoin is falling and what not but isn't that still much better ?

@adaseb actually makes a fair point that gambling websites could also implement a stablecoin for situations like these.
I'd opt for something different than USDT and make sure that you'd also be able to place bets with cryptocurrency as well.

Or having everything denominated in fiat and just use Bitcoin at the back-end would also be an option.

bitcoinisbest

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Quote from: minersday on November 18, 2018, 06:21:43 PM

Quote from: bigmaster23 on November 15, 2018, 02:10:03 PM

Thanks for informing us mate, probably even if you won on gambling there's nothing left to be called as profit because the btc could turn against your winning streak.

I will only gamble on fiat for this week or so.

Yeah anyway if you don't trade with large amounts of money you are not even going to feel the volatility that this guy is talking about.

If you gamble with $5, and bitcoin goes down by $1000, those $5 are gonna be $4, that is not a difficult thing to think about also.

It is true but only condition that the amount should be minimum. If some body like spend 1000$ of btc and end up losing then just think if next year btc crosses 20000$ so it means btc rose close to 5 times of current value so that means it was worth 5k in 2019 what 1000$ is now. So need be very careful how much amount you are ready to bet and ready to lose.

coolcoinz

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Quote from: KingZee on November 19, 2018, 03:17:20 PM

I don't actually see a lot of sites that take bets as a fiat value. Everything works with bees and mini-bees. So while I agree that it's the worst time to be selling, it doesn't change anything for gambling. You lose X BTC, you win Y BTC, as long as it stays in BTC, you're gonna BTC just fine.

That's only as long as you don't buy for fiat to be able to play. Imagine doing what Izanagi proposes and turning your wins into cash. You go to an exchange, buy BTC for 6000 USD, go to a casino, play a bit, win 0,1BTC ($600), send 1.1 to an exchange and turn back into cash. While you were doing it BTC fell to 5000 and you 5,5k USD all together.
That's why I say it's a bad idea to sell anything during crashes. Especially if the crashes are panic crashes, not fundamental ones.

KingZee

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Check your coin privilege

Quote from: coolcoinz on November 19, 2018, 11:59:54 AM

Quote from: izanagi narukami on November 19, 2018, 09:21:33 AM

I'm also gamble on Gold on stock exchange and enforce me to gamble with half amount because the downtrend is too extreme.
Luckily I'm seldom gamble because I'm aware that bitcoin keep decreasing at the moment

Trading with $ and BTC are riskier with $ so I'm suggest to convert into fiat as soon as you get the reward or get paid

That's the worst thing you can do in this market if you look at the current state of Bitcoin. It's extremely oversold and you can see it on the RSI. It actually hasn't been that oversold since 2015. This is the best moment to be buying Bitcoin and the worst to be selling and gambling with it because every loss right now will hit you twice. First time now and the second time next year when it goes back up.

I don't actually see a lot of sites that take bets as a fiat value. Everything works with bees and mini-bees. So while I agree that it's the worst time to be selling, it doesn't change anything for gambling. You lose X BTC, you win Y BTC, as long as it stays in BTC, you're gonna BTC just fine.

Topic: Friendly advice/warning about gambling in this market - page 2. (Read 23232 times)