Topic: What percentage of bitcoin investors are gamblers ? - page 4. (Read 863 times)

I think that people in crypto are in general people who are able to take risks which is one of the characteristics of gambling people. Those that joined crypto very early are particularly good at judging risk, but at the same time good at creating gambling opportunities. But then there is all that people that use crypto for illegal purposes and launder it gambling.

There is no point in differentiating users, if everyone starts to purchase bitcoin and HODL for the Nth time then there wont be any transaction and it would eventually die off.

It is possible that most of the gamblers are not bitcoin investors but one thing that is certain is that anyone who started early in bitcoin was a gambler in the sense they would take the risk and majority of the bitcoin users that i know are active into gambling

Are we "let me get some bitcoins so I can gamble with it" kind of people or not? That plays a big role to be fair. There are some people out there who do not want to invest into bitcoin, but they do buy bitcoin or get bitcoin because they want to gamble with it, like some sort of casino chip for them, but they do get into bitcoin because of it in the end. If we calculate them as bitcoin investors then I would say that there are a lot of people who are both bitcoin investors and also gamblers. However, if we do not consider them as investors, I would be able to say that they are not really that weird, and looks like it is going to end up with something that could change it long term.

Hopefully they could end up with something that should be changing in the end. Lets hope that we could end up with something that would be a bigger change, and should not really be cared about in the end, I personally believe the best would be to just ignore these, and let investors be investors and gamblers be gamblers and not really care who is who.

A high number of cryptocurrency investors who are gamblers can be traced to have a high probability of gambling with cryptocurrency. Because they'll never see any reason to use cards to play games, when they can use crypto. Whether our predicted percentages are right or wrong. I can still add that in all predicted percentage, mentioned in this thread, of possible cryptocurrency investors who are gamblers, most of them are quite low compared to the high possibility of having many cryptocurrency traders who are into gambling. Hence, we can begin with the forum. Many of us in the forum are gamblers, or have in our life time spent reasonable time and funds on gambling. Taking the census from here, you'd see that the number of gamblers in the forum would bypass that of non gamblers. Only investors who are not actively into cryptocurrency can have difficulty participating in gambling. As they may have not touched their bitcoin in a long while. But, those who use bitcoin or read bitcoin everyday. They may have came across the widespread of cryptocurrency gambling in online gambling. Which can lead them to try it out and have a glimpse of the fun that follows gambling with our bitcoin. Taking it from this angle. I think active bitcoin users who follow the trend of bitcoin are quite very high. Compared to those who own bitcoin, but don't participate extraordinarily in helping the network. Other than the help they already render to the network by holding bitcoin. They don't do any extra task like; gambling, writing, trading  on bitcoin. Those who want to help bitcoin grow by any means still contribute in different ways like gambling or trading or marketing bitcoin through writing. You'd see that these category of people who go extra miles for bitcoin are enormous and the number of investors who use gambling as a tool to achieving such goal, shouldn't be seen as only 10%. I think they're way too far from such predictions.

so far there is no definite data on how many bitcoin investors are gamblers, we can only guess how many bitcoin investors are gamblers and if i think it's not too much, around 5-10% of bitcoin investors are gamblers, or that could be more.

and if we divide again between those who use crypto and fiat in their gambling, perhaps there will be more who use crypto in their gambling considering that the average bitcoin investor definitely understands that using crypto is easier and faster than fiat.

well, bitcoin investors, they seek profits. so much so that they keep doing hodl for years until they manage to obtain profits of more than 2x or 3x. So when talking about a bitcoin investor you can already imagine that this is the profile of a more financially educated person in the sense that the coins he is saving are meant to increase and not reduce. Therefore, this investor will not keep taking the coins that were supposed to increase to keep playing at the casino and losing everything. for example, a person takes $1000 and invests in bitcoin because they aim to make a 3x profit, meaning they want to have $3000 within 5 years. It wouldn't make sense for this person to keep taking $100 to play in a crypto casino

so my only idea is that the people who play in crypto casinos are not bitcoin investors, they are people who have bitcoin coming from their winnings or who buy using bank cards for the purpose of playing in casinos, for these people to lose money is part of routine because they know that all the money deposited in the casino has little chance of leaving the casino, the chances of losing everything in the game are much greater. This is my opinion based on the observations I have had over the years about the behavior of bitcoin investors

It's hard to say exactly what percentage of Bitcoin investors gamble. Because gambling is a separate thing which is not related to Bitcoin in any way but many people gamble online using Bitcoin because it is completely anonymous and easy to gamble.  And there is no accountability for investing money on gambling platforms. Gambling is a fun place so anyone who needs entertainment is only interested in gambling and is not obliged to become a Bitcoin investor.

Its kind of a silly one, isnt it? What percentage of Bitcoin investors are gamblers is like asking how many people gamble worldwide. Your question is very broad and complicated, and there is no simple answer. In the context of Bitcoin trading, its also hard to say what a "gambler" really is. People who trade every day, bet on its future value, or just like the fun of it are we talking about?

Its possible that your guess of 10–20% worldwide is just a guess, but its definitely a good one. If you think about it, most gamblers probably arent Bitcoin buyers yet. That is an interesting point of view. Both gambling and Bitcoin may have a lot of risks and unknowns that draw people to them. On the other hand, some standard gamblers might find Bitcoin too complicated or hard to understand.

It will be hard to gauge what is the percentage of btc investors that are also gambling on the side. You should have put a poll so that we can see a rough estimate of those people. But of course, that alone isn't enough to see the overall picture since some prefer privacy more than sharing to other people.

But if I will just estimate the population based on my gut feel and point of view about these investors, I guess there will be less than 15% of them in totality. This is because in my perspective, they would rather focus their mind and allocate their money in investing in bitcoin rather than spending it for an unguaranteed profit.

The interrelations of cryptocurrency and gambling: Results from a representative survey

The study above found that 31% of crypto purchases are aimed to gambling purposes. We could consider this as the percentage of influence gambling has inside crypto industry, although we can't say precisely how many gamblers are involved on that process. Also, the study was conducted exclusively among british citizens, what means it reflects the reality of that island country, without considering other cultures and behaviors which may be different in other countries, especially the ones which have a total difference when compared to the british financial and cultural standards.

I think counting grains of rice is still easier than find the percentage of Bitcoin holders who're gamblers.

Not to mention each user has different way to classify a gambler is, do you think people who gamble using faucet is a gambler? I consider isn't, do you think people who buy shitcoin and then sell it after few hours or day(s) isn't a gambler? I'd say it is.

The majority of Cryptocurrency or especially Bitcoin users have gambled with their crypto assets, those who are paid using Bitcoin through promoted sites have kept their assets for gambling. There is no definite number to answer this question, I prefer to call it "majority" rather than guessing a number that is difficult to say without valid data. Most Bitcoin investors have gambled, but the number is fewer than active gamblers who are not yet familiar with Bitcoin.

You're right Cantsay, for someone to own a coin irrespective of its kind doesn't make one a gambler, however we shouldn't also forget that almost all the online gambling platforms are crypto supported platforms, yet we cannot assume everyone having this same digital currencies to be a gambler, which is what you're trying to bring out from the context of how i viewed it, i don't even know how one can estimate the percent of bitcoin holders who are gamblers or not.

The point is that there are many Bitcoin users and holders, there are also many categories of investors, but I didn't find any big investors involved in online crypto casino sites.
For example: the most current investors or holders of Bitcoin or the largest investors.

However, none of the five of them staked their Bitcoins on gambling sites, so at this time it is unknown what % of investors are actually involved in online gambling.

But if you search and examine more deeply, almost every online crypto casino operating today, they use Bitcoin, of course they have partners/investors inside, which is the point: there is no official data on Bitcoin investors involved in online gambling.

No one can know, I have never seen any stats regarding this and I don't think there can be because not every bitcoin or cryptocurrency holder has a connection with some casino as many of them don't gamble for sure.

There can't be, surveys can be done but surveys can't cover all Bitcoin or cryptocurrency users, hence, the data will be incomplete.

Of course, it's not important for a gambler to also be an investor, there can be a very large percentage of people who just gamble and don't invest money in cryptocurrencies, some might have been but then stopped and used all their assets in gambling, it's also a possibility.

People who hold Bitcoin are Bitcoin investors?

I don't see the point of this comparison because investors are different from gamblers and we won't achieve anything and its impossible to find the figures too that is the practical difficulty in this thing.

What will be the better comparison will be how much gamblers use crypto casinos for gambling!

Then the value will be around 20%.

I think most of the people who invest in bitcoins are busy with trading. But some of them prefer gambling as entertainment. If someone starts gambling with his invested bitcoins it will be the biggest stupidity of him. Some  There are people who like to gamble most of the time they have lost a lot of money for gambling. Gambling is a bad addiction. Investing Bitcoin is addictive but all money is at risk when gambling. Investing in Bitcoin is safe. Gambling is profitable sometimes and sometimes.  Time successful money is lost.

You misunderstood my comment; what I wrote there was, does owning a “coin” “accounts/means” that one must be involved in gambling?

The “coin” and the “accounts” are not together.

What are coin accounts ?

That's what I thought, I have no idea about the percentage but one thing is I know, that most crypto gamblers are aware on bitcoin and has an investment too. I agree in your statement that it's difficult to extract because mostly investors and gamblers doesn't use their real Identity or they keep their information for their own privacy. I've read one of threads here in gambling discussion section last time that more people are using bitcoin holdings for gambling rather than fiat and I think it depends on your preferences but for now, We are all aware that the bitcoin price is increasing it's value, does anyone still using it for gambling?