Topic: Gambling risk is higher when we are on Bear Market? - page 4. (Read 684 times)
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.
Of course if you bought your Bitcoin at higher price then place bet on casino or gambling site, The risk is higher. We all know that gambling is a game of luck. Its is not a skill or talent game that you can master all the probability of winnings.
However, I can recommend one site that gives 10% cashback on your losses at the end of the month.
However, I can recommend one site that gives 10% cashback on your losses at the end of the month.
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.
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.
This kind of thinking will get you into bankruptcy if not in deeper debts. Everyone has ups and downs in life, imagine if we all went gambling on downs, we would all be in deep shit.Either call it a lose and get out what you can and learn to live with it or go short with bitcoin, since ATH you could have earned that $18K back many times and you still can. Earn it, don't gamble it.
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.
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.
I remember seeing a user in the forum that claimed that something very similar to this happened to him, he was desperate for the losses in fiat of his bitcoin and he decided to gamble in order to recover his losses, and you already know what happens next right? He lost all his money since he was not looking to have a good time, he was trying to get profits and as we know unless you are a professional trader obtaining profits when you gamble is really difficult. 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.
Probably gambling is a good idea to gradually regain your losses. But for me in my own opinion it will be a good idea, unless if you're really sure that you can easily win and get some profits on it. Because you know gambling is very risky also.wherein uncertain like other option here in crypto world. Perhaps much better to hold than to gamble because it's veey risky and there's a possibility you will end up to regrets afterwards.
Gamblers attitude is to risk everything ,and that’s the reality.we knew how gambler spend all their money for the sake of winning so there are no difference on what you are saying here mate and regrets are always in the end after we fail for certain thingsHere'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)?
If I was in the situation of John I would pick a game where it doesn't purely depend on luck like sports betting. If I'm lucky I can even recover my capital. I would bet it on the NBA where for me is more easy to predict the outcome of the game than other sports. I will analyze the players, listen to some analyst or just bet on the more popular team.But as what you have said still LUCK will dictate on what’s result so chances are either increase the Bitcoin he holds or gone totally
Probably gambling is a good idea to gradually regain your losses. But for me in my own opinion it will be a good idea, unless if you're really sure that you can easily win and get some profits on it. Because you know gambling is very risky also.wherein uncertain like other option here in crypto world. Perhaps much better to hold than to gamble because it's veey risky and there's a possibility you will end up to regrets afterwards.
In this given scenario, John has two (2) options: either to invest the remaining funds and HODL; or gamble everything with the risks involved.
The decision would highly depend on the immediate need or emergency situation of John if he needs the money right now. Remember that in investing, the results may vary depending on your luck and the situation on the market. Unfortunately, he bought the bitcoins priced when its price skyrocketed ($18,000) but since it has dropped significantly, he can either invest it again OR gamble everything.
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.
If I were your friend then I will not go to gamble it. It is really hard to accept the fact that he lost his bitcoin. I know that feeling, but we can't blame him if he wants to get back what he loses in his own way. If I were your friend and I have money to invest again, then I will buy bitcoin again at the price of $4000 and wait until bitcoin gets increase again. 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.
~snip
There is already risk on it when you invested in Bitcoin but it is minimal only. Now the price of it went down below the price you bought it and choose to gamble your Bitcoin, that adds more risk on it and that is called "GREEDINESS". As an investor, you must stay calm and ready in times like this. If I will put myself in the situation as same as John, I'd rather accumulate more Bitcoin at a lower price (average down) rather than gambling it. In that case, the risk is lesser than putting it in an investment where the risk is at its highest (gambling). We know already that most gamblers end up losing on gambling so why would you risk it if you can think of a better way.
Lucky for me that I didn't experienced this at this moment but for some investors who bought their Bitcoin at early 2018, probably they gamble their Bitcoin just to increase their Bitcoin holdings.
I treat 1 BTC as 1 BTC no matter the valuation is in USD, and IMO if John had no sense of that value in his mind, he’s a blithering idiot on my perspective. We always know that bitcoin tends to come back after a rough market run, and those who lose money are mostly those who are impatient and wants instant gains. I would have gambled a small sum and forget about the rest of the bitcoins that I have so in case if the market blows up again, I at least have something to recover and just lose some thousand dollars.
I think I don't want to spend my bitcoin for gambling. Even if I want to gamble, I will convert it into other coins that are not too high to buy. I will use dogecoin rather than bitcoin. If I still use bitcoin, even if I don't lose too big, and I still lose the value of bitcoin, which I cannot risk more. But whenever bitcoin price increases or decreases, I never use high risk in gambling because I am too afraid to lose too much bitcoin because of playing gambling. But if I gamble with other coins, I can accept the loss of the coins because that is different than I use bitcoin.
there is no big profit if we don't risk big alsowe all have our own perspective in gambling,but for me if i am going to lose i will do all my best to prevent it from happening
but in this case its different thing because OP is talking about BITCOIN and this is the most potentially and reliably currency in the whole market and having this is like a treasure ,yeah the price is fluctuating now but we also knew it will come back soon
so my answer is NO i will never gamble my dropping Bitcoin instead i will wait
If I am into gambling to make money, I will not think of holding as that's a different story and I'm taking a high risk journey.
Everytime I gamble, at the end of the day, I always convert it to fiat either I loss or win, that's my strategy to avoid getting affected with the price volatility.
if you are doing that, you are not gambling anymore but you are investing, so that needs to be understood by every gambler, they need to minimize the volatility by doing the right strategy.
Everytime I gamble, at the end of the day, I always convert it to fiat either I loss or win, that's my strategy to avoid getting affected with the price volatility.
if you are doing that, you are not gambling anymore but you are investing, so that needs to be understood by every gambler, they need to minimize the volatility by doing the right strategy.
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.
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 fight is not over for the Bitcoin he purchased, Bitcoin is still here and there are a lot of development in the market, he had no choice but to wait for the market for another all-time high, could happen next year or two years from now, but it's an assets that worth keeping, taking these Bitcoin is like throwing it all away, better set up a lending business, business here, while waiting for another all-time high.
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.
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.
maybe I will do 2 things when experiencing a scenario like this in order to minimize the risk of further loss
1. withhold for a long time a portion of the existing money or by taking steps to trade in order to make a profit
2. the rest is used to play gambling, by having a winning target to be achieved and of course always using the method of calm, relaxed when playing to be able to control emotions
This has been already said on earlier replies above that Jhon is being "impatient" or he badly needs the money and wanted to double his bitcoin holding just to cover the loss he has. Actually, nothing has been lost to him because that is the same if he had 1 bitcoin it will remain 1 bitcoin. If you are investing in a short period of time then you might face this possible risk. Once good luck is on your side, you probably get profit from what you have lost.
A lesson to learn, Jhon should always know the possible risk of holding bitcoin, not all the time is on the bulish market. Remember that the patient and accumulating of bitcoin is the key to have a better profit.
A lesson to learn, Jhon should always know the possible risk of holding bitcoin, not all the time is on the bulish market. Remember that the patient and accumulating of bitcoin is the key to have a better profit.
Jhon should be more responsible on his finances, because if he still get used to it committing such unreasonable decisions nothing will improve on him. Holding bitcoin do have higher risk while bearish market took dominance of the opportunity, but if you associate that with gambling much better if we choose being a holder. If you remain so serious with gambling, negative results will come or you're possible of losing all of your funds.
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)?
If I was in the situation of John I would pick a game where it doesn't purely depend on luck like sports betting. If I'm lucky I can even recover my capital. I would bet it on the NBA where for me is more easy to predict the outcome of the game than other sports. I will analyze the players, listen to some analyst or just bet on the more popular team.
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.
Basically it is a different path. In gambling when I buy bitcoin to gamble and then bet then I don't really know about the outcome, whether it's losing or winning. So, when I start buying bitcoin just to gamble then when I get a win then next I will immediately cash in the profit and some will return to bet, but when the result loses it is a risk in gambling and all of that will happen quickly because in Gambling money can disappear and increase with fast time. So gambling has nothing to do with bearish or bullish markets.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.
In the scenario at first John buys bitcoin for HODL and then John decides to gamble because the market is bearish. Remember, if you gamble with a situation like that then you will completely lose everything because you are gambling with a very chaotic mood. So in my opinion this is very clear, a case like this is something very different.
With bitcoin the market recovery happens someday. Upon the same I never look upon the price of bitcoin changing with time. I simply go spending same as that I spend when the price of bitcoin is $18000. Here I never go for higher risk, I will be spending same as that I spend normally. This way risk always gets associated with gambling unlike the market trend of bitcoin.
If the intention is for investing purpose holding the same amount of bitcoin even the market fall needs to stand still. With the scenario of the situations if you are desperate and impatience since you lose a lot in fiat value, being aggressive will let you to lose all the money that you left and regret after suffering with that such loss.Jump to: