Gambling risk is higher when we are on Bear Market? - page 3.

lienfaye

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Quote from: GreatArkansas on October 09, 2019, 09:24:16 AM

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Betting in huge amount with high risk is like giving away your money because the chance to win is low and we know gambling is more on luck, you cant recover your losses if its your way to gain it back.

I'd rather hold my bitcoins and wait for the bull run, we know how btc perform we might be in bearish trend now but the time will come the price will recover. Just hold because you wont lose anything unless you already sell.

FlightyPouch

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Quote from: Upgate on October 11, 2019, 03:35:38 PM

If I happen to be John I will hold some bitcoin because the price might just rise again but if I happen to need money urgently and have to resort to gambling I would bet on low risk why? Because am not a fan of high risk gambling

Can give us some example? Usually bitcoin is used with high risk gambling games like dice. It is true that there sports betting but if you will be that scared od betting it on high risk, better save it and trade it with other crypto currency. This low risk may not be as scary as high risks but those games would eat you alive really slow.

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In my opinion, I think it is not necessary to try and gamble in a casino to win more bitcoins in order to decrease the losses suffered in trading for the trader, because the trader would still be holding the same amount of bitcoins he purchased from the Crypto-currencies trading market. The loss would be even more huge if he lose away all of his bitcoins in the casino, and I believe that would truly be a disaster for that person.

Upgate

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If I happen to be John I will hold some bitcoin because the price might just rise again but if I happen to need money urgently and have to resort to gambling I would bet on low risk why? Because am not a fan of high risk gambling

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I don't support gambling to cover up loses from other investments. Gambling should only be done with spare cash for a chance of more profits. It's a high risk venture where you do not control the odds totally.

Quote from: RivAngE on October 11, 2019, 03:13:46 PM

If you try risk your money when you're in such a situation as the hypothetical muster John, then you're more likely to make illogical decisions and waste your money.

Any trader or gambler should hence learn to control their emotions to avoid getting deeper into losses. And if you can't handle the heat, step out of the kitchen.

RivAngE

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One of the most important and decisive factors in gambling is the psychology.
If you try risk your money when you're in such a situation as the hypothetical muster John, then you're more likely to make illogical decisions and waste your money.

Ryker1

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Quote from: asu on October 11, 2019, 01:25:53 PM

Presumably it does happen many times yr2018 when the bear marker entered. I do failed to loss huge amount of percentage in my portfolio at that year, but I never think risking my remaining bitcoin to gamble it. I remembered bitcoin reached $20,000 and straight back going down to until $6,000 where my portfolio really hurts and nothing and all I can do is to wait the market to recover a little bit and sell it in a price that I would be happy and comfortable.

Well, for sure until now you keep holding bitcoin in your portfolio because the price that you invested the price around $20k has not yet hit.
Accumulating bitcoin is the best option while holding or while in a very cheap in the market. But if you are impatient and can't wait when the price comes back to the price where you invested, I think to gamble is the best alternative way to cover the loss but this is risking your portfolio. Indeed, set amount that you can afford to risk or split into two. For saving and for risking in gambling and hoping it will double or triple.

asu

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Presumably it does happen many times yr2018 when the bear marker entered. I do failed to loss huge amount of percentage in my portfolio at that year, but I never think risking my remaining bitcoin to gamble it. I remembered bitcoin reached $20,000 and straight back going down to until $6,000 where my portfolio really hurts and nothing and all I can do is to wait the market to recover a little bit and sell it in a price that I would be happy and comfortable.

FontSeli

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Quote from: Capt00 on October 11, 2019, 09:14:10 AM

That’s very unfortunate, I don’t think it is the best decision to gamble his coins in trying to recover his losses because gambling is a game of luck, John have lost a lot already and in gambling there is a very low chance of winning thus, gambling your coins can only make things worst. If it were me, I would rather hold it until the the next bull run besides, it is bitcoin, we all know it’s going to rise up again in price so we just have to wait.
If in case I got bored waiting I would scalp a few amount and use it to trade instead of gambling because in trading you can use technical analysis to gain profits unlike if it is gaming then it is pure luck.

Above I also gave the man advice better to wait for the next price growth. However, I do not agree with you that you can take a little money and engage in trade. Technical analysis almost does not work on the crypto market so trading on the exchanges can be compared with the same gambling, and if a person does not have experience in trading on the exchanges, then he will definitely lose his money. Therefore, let the man try his chance in what he understands well.

audaciousbeing

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Quote from: GreatArkansas on October 09, 2019, 09:24:16 AM

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

The risk is really high when in a bear market compared to when in bull episode and its a gradual one depending on the price point where the risk is to be taken. Using this scenario, what would inform the risk the individual would take would be the quest to get back to the starting point which is the $18k which means the individual would take more risk when the price is $8k when the target is $18k compared to when price was $15k or $12k. The reason for that is because according to human nature, when you get to a point when returns is no longer the option, maintaining the capital would be the best alternative which is what a rational human being would do in this scenario.

Sadlife

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Quote from: ScamViruS on October 10, 2019, 12:32:24 PM

He's already lost a lot

nope you are qrong because no one is losing until you convert the bitcoin into fiat,always remember that but if your currency(bitcoin or altcoin)is still in your wallet the chances of profiting soon is always there

Quote

. Although the price of bitcoin has dropped in USD. He has his BTC. Now if he gamble with his bitcoin then here is his chance to lose his bitcoins. We all know gambling is high risk. In my opinion, I will keep my Bitcoin hold until it recover.

if he is a gambler then yeah theres a chance of risking the BTC for betting but if not then surely he will remain the coins until Bullmarket comes

Capt00

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That’s very unfortunate, I don’t think it is the best decision to gamble his coins in trying to recover his losses because gambling is a game of luck, John have lost a lot already and in gambling there is a very low chance of winning thus, gambling your coins can only make things worst. If it were me, I would rather hold it until the the next bull run besides, it is bitcoin, we all know it’s going to rise up again in price so we just have to wait.
If in case I got bored waiting I would scalp a few amount and use it to trade instead of gambling because in trading you can use technical analysis to gain profits unlike if it is gaming then it is pure luck.

Vaculin

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Winding down.

That scenario is most likely applicable in investing, but for gamblers who are focus in what they do, they will do everything just to not suffer from the bear market. They don't need timing to buy and sell, the can just buy now to gamble then withdraw afterwards and convert their fiat. That's the procedure they usually do as they don't keep their money longer in a gambling site or keep their crypto in their wallet to gamble for long term.

doomistake

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Quote from: GreatArkansas on October 09, 2019, 09:24:16 AM

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

The scariest part of our lives is when we have a mindset like this, the truth is John didn't lost 50% of his money, he have those bitcoins in his wallet, maybe the price went down but the quantity of bitcoins he bought didn't change at all. It is confusing if we didn't know what world we are taking in, also if we didn't know what is the true meaning of "lost" then we lost ourselves and do something teribble just like what John did.

John panicked and started to startle, thinking that he might get back the money that he "lost" in gambling, that is why he did lost it in the end, so becareful what you wish for.

Japinat

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Quote from: bering on October 10, 2019, 06:09:56 PM

I never have experience such as this because if the price of bitcoin gradually fall then usually i will cut loss to solved this but not to gamble and seems your purpose while starting gambling is not right that want to recover your losses from bitcoin trading and i think this is not good considering that nothing is certain in gambling and if you lost it then you will get nothing here but if you still insist to gamble then betting on low change of winning would be my advice to you

If we convert regularly we will not be affected with the bear market, actually if we can do it in a weekly basis like cashing out every weekend, we will save ourselves from the bear market. As a gambler, we know that we are using a volatile currency, therefore we should know how to deal with it, if only there's a stable coin that is accepted in gambling sites, this would really help our problem with volatility.

bering

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I never have experience such as this because if the price of bitcoin gradually fall then usually i will cut loss to solved this but not to gamble and seems your purpose while starting gambling is not right that want to recover your losses from bitcoin trading and i think this is not good considering that nothing is certain in gambling and if you lost it then you will get nothing here but if you still insist to gamble then betting on low change of winning would be my advice to you

Polar91

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Filipino Translator 🇵🇭

When you're gambling with Bitcoin, then you're risking your money to the Bitcoin's market itself and of course to the actual game you're dealing with. As a gambler, don't look for the value of your Bitcoin; meaning don't compare its value before or now since you have no control over that. What thing you should focus more on is how you play the game. Compare the quantity of your initial Bitcoin to your Bitcoin you have now.

crzy

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Quote from: ScamViruS on October 10, 2019, 12:32:24 PM

He's already lost a lot. Although the price of bitcoin has dropped in USD. He has his BTC. Now if he gamble with his bitcoin then here is his chance to lose his bitcoins. We all know gambling is high risk. In my opinion, I will keep my Bitcoin hold until it recover.

The risk will be the same I guess since you gamble the same amount of bitcoin without having coverting it with its real value. If you lose bitcoin in gambling then you should think you just loss the bitcoin don’t try to covert it to the future price because you’ll be just frustrated. I will also hold my bitcoin until it makes new ATH, don’t want to use this on my gambling activities.

xSkylarx

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Quote from: Oceat on October 10, 2019, 01:14:06 PM

Why do you have to gamble your Bitcoin if you can HODL them? I wouldn't risk to gamble it anyway if I were you since I am not confident with my luck and skills in risking something that is too precious. Just hold them until you see the price getting back to the original price when you bought it. Don't risk something that would give you something in return. But if you don't have any other choices because you badly needed that money, just sell it instead than risking it to gamble. You will never know if you are lucky or not.

Some people thinks like that. They are desperate to recover their loss and their only option is to gamble hoping they'll win. They are not patient unlike hodlers who can wait for more than a year. Crypto market is unpredicatable so investing what you can't afford to lose is not a good choice.

Naida_BR

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Quote from: GreatArkansas on October 09, 2019, 09:24:16 AM

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

Considering your scenario yes it is riskier when we are on a bear market.
But, in this scenario the value of your money are already lost in a considerable amount.
In my opinion, it is silly to gamble cryptocurrencies which are bought in previous months/years. Better buy on the same day some cryptos and gamble with them so you will be playing with the value that you acquired them.

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