Bitcoin Forum

I cannot remember ever gambling BTC when a Bull market was raging*.
When prices are lower it seems to (sometimes) be worth the risk, both for fun and a chance to make more BTC.
Do you tend to gamble more when BTC prices are down?


*EDIT:
If you gamble when BTC prices are high:
Winning = You win more in $$$ value
Losing ("a few %") = When BTC falls 50% you really didn't lose nearly as much in $$$ amounts

Looks like there is an advantage to playing when prices are high.



Anytime    
&
I Never gamble with BTC
were added to the poll a couple days later.

To me personally I gamble when I get some coins.... Doesn't matter if it's high or low a loss is a loss  ;D

I never really look at the the Fiat value of coin when I gamble, but sometimes I use this to make me stop. 1 bit coin doesn't look like a lot but it is still $500+

it seems the price does effect how much gambling i do and the stake at which i do it.

From my experience, people tend to gamble less when the price is going through a volatile stage, this is regardless of whether it's going down or up. I guess this is because people are already engaging in high risk activity so conventional gambling on top of that is not needed.

When the price is stable for a long period of time it seems as that is the point where people decide to throw some coins on the line.

This does make good sense, but I did notice when I did gamble I really dont know how much im gambling, so in that case I tend to alot more then I notice cause im not keeping track of price on mtbc.

I generally see the BTC as being very undervalued as it has not reached its peak(according to me ), I think the BTC will at some point reach 5k hence now i just gamble all the coins i get , whether market is volatile or not

I try to not think about how much it is that I'm gambling, back when I was having a good winning streak on PD and gained over 8 bitcoins, obviously I knew how much they were worth, but when I'm in the zone I try to just think in numbers of rolls and bets. Winning against the house is what drives me forward, at the end of the day, if I come out on top, I do a rational decision to put away some btc that I have won so I won't play it.

I have to say though, dice-games are the best when it comes to gambling, you won't find it anywhere else where you can gamble with 1% house edge and legitimately have a chance to win.

You should have added a poll on this topic , that would be much more helpful..!

OK thanks for the good suggestion rohnearner.
The poll is added now.
It's more complete than if I'd done it right away, since "stable prices" were mentioned in the discussion.

Must add few more options to Polls like :p "NEVER" and " Don't Care what the Price is I gamble anyway. "

for me, gambling when price is stable reason you know what you are staking coz in bullish and bearish market holding coins like a gambling too.

i gamble no matter the price, but i gamble only 1$ once in a week so don't take me serious. .

I agree! As per nature of bitcoin, buying and holding BTC is gambling already!  ;D

I suggest adding one more option to the poll: "Anytime" lol

1$/week would be (almost) impossible with fiat gambling.
With BTC, you can bet extremely small amounts and make your money last longer.

Of course, for real excitement you need to bet more.  :)



OK.
Anytime    
&
I Never gamble with BTC
were added to the poll.
Thanks for the suggestions.