Bitcoin Forum

How does bitcoin price fluctuation effects your gambling?
Can this fluctuation be considered as kind of gambling as well?

Well , in a way its cheaper to gamble now compared to last month  ;D Winnings would be lower too as the prices are quite low at the moment. Great time to hog winnings (if you have made any) as prices will soon go up.

For those who trade coins, then yes, its definitely a gamble.

Just my 2cents. Im sure others would think differently.

I should imagine people are more willing to let their bitcoin go when its worth less and more willing to hold when the price goes up.  This effect would only be short term until the eco system adjusts to new prices.

cheaper price means more bitcoins for me to play with

about the price fluctuation, i think its a binary option.

i don't get it why playing with bitcoin when the price is low i think it will be good to win more than risk to lose and wait until the price go up again

Because it will be cheaper to buy coins to gamble when its low. If you win, then keep those coins and wait for the price to rise

i think if you have money to buy many bitcoin than it will be best to keep them out of gambling and you will win without doing anythink

For now not, because i earn bitcoin and play bitcoin. My consideration not is "bitcoin value is 200$ - 500$... , but "today i have earn 0,1 bitcoin, i can bet 10% of my work  ;D

How are you so sure that keeping coins will make you money? buying bitcoins and keeping them is also a form of gambling because you do not know if they would increase in price

When price crashes i increase my minimum bets and play harder than ago ..... for me when price is low gambling is easier .........

in my case the answer is yes , here is why
I play mostly poker on betcoin , and all of us know that betcoin has WPN tourneys and SNGs and they are all based on USD
for me I mostly play these types of games , so when you want to buy in to these they convert your bitcoins to USD
now if I do good while btc price is down I will make more btc since it's based on USD , but a down swing would be really harmful when btc price is down
so even without buying or selling coins , btc price is really has good and bad results in my game

If the price flutation is under 10/20% no problem, but if is more i reconsidered my bet amount
For now, i have buy more litecoin 2 month later at 1.5 euro and i bet litecoin (now value 2,7)

I think gambling use bitcoin when price low have benefit because when price up you got double profit.

When you open betting account in other currency e.g. USD and your bitcoins deposits are converted into that currency it really matters when to withdraw your money

I don't bet much with low amounts and it also affects to my purchases

I try to avoid to buy stuff because with this low price,the amount in bitcoins gets higher

I don't think it has any impact on how I gamble. I win less and lose less in $ but that's about it.

Yes Bitcoin price fluctuation can influence you betting suppose you had lost 10% of your money and next day price increase by 10% then you are even-steven ;)

Well that rule only applies if and when you decide to sell them, until you don't sell them the bitcoins you have remain of same value, it's only when you exchange them to $ is when you're affected by the price.

For ex. I have 2 bitcoins, I bet and win 2 more, now I have 4 but the price drops to half, did I lose half of my money?? technically yes but only if I decide to sell it then and there, but if I don't I still have 4 bitcoins and there value could go up in future, what if it doubles?? did my money doubled? again, only if I decide to sell it.

But in a way, investing is sort of like gambling in itself therefore it can be said that keeping bitcoins is like a gamble?

Yes right its a gamble itself.

Think about when I told to all my friends to buy bitcoins when they were worthless(50 dollars), nobody listened to me.
Oh...
https://i.imgur.com/GHcp0f6.jpg

i do gambling affiliate and just now all my affiliates spend bitcoins like crazy  :o

I cant say that the rises and falls of bitcoin price had any significant effect on my gamblings, because I do it with bitcoin I don't care that much about the price as long as it has not gone so far high that I don't want to lose even 1 satoshi I am good to gamble.

Do you mean fortunejack on your signature or other sites? It seems that they spend bitcoin a lot and you earn more money from them, haha, congrats.

To OP:
How does bitcoin price fluctuation effects your gambling?
I don't buy bitcoin now and I still have some, I bet those 8 coins and that's enough for sports betting.

Can this fluctuation be considered as kind of gambling as well?
Yes, trading, speculating is also a kind of gambling as well.

Thanks for all the interesting, nice, and valid points.

yes fortunejack and bitcasino.io  ;D

haha, i laughed so dam hard at this, no but really i don't think the price of bitcoin at the moment has affected me in anyway
,if it has it's probably been for the better.  ;) since im not losing as much $

I am sure that when people gamble they simply gamble in terms of the US dollar. So if price fluctuates they take that into account. Just because someone was betting 1 BTC per roll back in 2013, doesn't mean they are betting 1 BTC per roll at the moment.

feel free to lock the thread up to avoid redundant answers  ;)

I don't know why, but to me, a rapid change in bitcoin price does affect my gambling desire and spending, but a gradual change does not. When I first learned about bitcoin and bitcoin gambling, it was 2 years ago and the bitcoin price was just above $100. Soon after, the price started to rise rapidly to $1000, and my weekly spending on gambling (in the unit of btc) lowered by ~50% I think. The price then crashed from $1000 to $500 to the current $225, but I haven't bet more since then.

in the last 3-4 month i bet only to dogecoin to directbet and later i have send a doge for confirm bet i think "i have bet 50.000 dogecoin or 6 euro" ? I see the cryptocurrency different to real money

It affects my gambling in two ways.

When price falls
I try to gamble more as  there is a lower risk of losing money.


When price rises
I stop gambling and liquidate my btc.

It's like gambling your trading profits :P which is basically gambling itself!!

I think that the time of gambling is so short and in this way the fluctuation don't have the minimum of importance. If the gambling continue depends. If you win and price go high you will earn more. If the price go down you have earned less.

Well said. With this approach it feels like we are double gambling all the time. And it surely feels good for us gamblers.

Also, it feels a bit strange that some of you are not influenced by the huge changes of the Bitcoin value, than you could as well bet with the Monopoly money.

I don't gamble with big stakes so it does not affect at all. I will just keep gathering btc if I'm doing well, and don't even think aboout the btc price, since I manage my bank according to the ammount of btc I have, and not what they are worth in $. Only when I consider to convert them to $ I consider the price, but I will do that either if the btc are from gambling or any other source, so it's not related to gambling itself.