Friendly advice/warning about gambling in this market

[Finestream]

Don't gamble with Bitcoin. When you buy it in this market it's already a huge gamble. When you gamble with a crashing coin it's like playing twice every time. Like you were rolling and the person holding your money would be rolling for you once again and if one of you loses there will be less money to put on the table the next time.

Yeah I think its more risky if you gamble using Bitcoin and other cryptos because we don't know when will it rise or drop but I think what is important is you accumulate more Bitcoin and forget its USD value. Many believe that Bitcoin will rise up maybe next year so what is important for now is that you win.

Cryptos were always risky even before ,  not only on gambling but on almost any profitable activies or business because cryptos are unstable  but people are already aware with it  .  if you are still scared then dont play online gambling but instead you may rather play traditional gambling using fiats  if you feel that it is less riskier  . 

Most of us aware that cryptomarket is very risky and some people are just ignoring that risk and continue to gamble/invest without proper knowledge and it makes them lose more. In gambling if you use your bitcoin you’re in a big risk because of the value of bitcoin and of course you might lose the precious coin if you keep on playing.

For me,it's better to gamble using our own fiat currency because if we lose,it won't be as bad because the price is definitely low compared to the value of a single bitcoin.Bitcoin may only be profifable in trading or making such investments.But gambling it on the other hand might only give us depression if we lose such a great amount.

[crzy]

Some people do choose to gamble with Bitcoin and other cryptocurrencies like Monero for the sake of anonymity, though, and for some people the risk of losing fiat value through price volatility is offset by this anonymity that's difficult to find elsewhere in online gambling. Transactions through crypto may also be quicker and more convenient compared to fiat casinos, and convenience is something else some people are willing to pay for. It's true that fiat gambling may be a better option for some, but there are also reasons for gambling with cryptocurrency even in this crypto bear market we're in right now too.

Most probably they own a lot of cryptos, or they just receive it through bounty or what that’s why they choose to gamble using that. Yes, its more convenient to gamble using your cryprocurrency compare to the regular casinos, people are just afraid for the price of bitcoin or any coins that may rise and make more expensive to gamble. For me, whatever coins or ways you gamble it still gambling and in gambling losing is normal so expect to lose before you earn.

If they want to take the risk to gamble using cryptocurrency then so be it, but hopefully you will not regret that decision when the bull comes again in the market. Personally, I just bet small amount of bitcoin and mostly I only gamble locally where I can use fiat money and earn an instant money with a high liquidity.

[rodel caling]

Thank you for the warning and effort make this thread to advice the community, I don't think gamblers are stop doing gambling using bitcoin because gambling is a fun and fear games and the risk i part of of the gambling.

[icalical]

I wish I read this article earlier and stop my gambling habit, then I would not lose my money. But however, with this bearish and stuff, I still manage to make a little profit and cover up my lost. At first I don't think that the falling price of Bitcoin will affect my gambling so much, but it turns out it has a huge effect.

[mindrust]

If you are gambling your btc away you shouldn't care about its USD value anyway. That means you also shouldn't care about the market volatility. What you are after is more BTC, not more USD. Most of us already know BTC will make come back in a few years and pass the last all time high which is $20k.

edit: fixed

[Barcode_]

If you are gambling your btc away you shouldn't care about its USD value anyway. That means you also should care about the market volatility. What you are after is more BTC, not more USD. Most of us already know BTC will make come back in a few years and pass the last all time high which is $20k.

I think if a gambler manage to win a lot of bitcoins in gambling, and if he plans to hold those bitcoins in his wallet until the price of bitcoin goes up before he sells all of it away, he could gain a lot of profits from the original amount of bitcoins he won from gambling due to the price rise in bitcoin, I think this is one of the advantage when a gambler uses bitcoin as a currency to gamble in the casino.

[LogitechMouse]

If you are gambling your btc away you shouldn't care about its USD value anyway. That means you also shouldn't care about the market volatility. What you are after is more BTC, not more USD. Most of us already know BTC will make come back in a few years and pass the last all time high which is $20k.

I agree with this. You are betting using Bitcoin so don't think of its USD value since you are not using USD in gambling. If you are thinking of the value of Bitcoin in USD then its better if you will only use USD in gambling. The main goal if you are betting using Bitcoin is to accumulate more Bitcoin and never mind its value.

[jademaxsuy]

Betting doea not compromise the bitcoin market price movement. Since gambling is just a sort of fun so no need to wait for any things or market price to go well. The important thing is that one can earn in gambling. Besides, bitcoin market price drop makes it more easier to buy that will relatively more bet to do.

Probably looking for a good betting platform will definitely won't stop anyone on betting it as it has many goof online betting platforms nowadays.

[Hotrod_88]

Guys, you can tell me to fuck off if you want but as a fellow gambler & I suppose a friend I want to give a bit of advice -

The bitcoin price has been INCREDIBLY VOLATILE over the last 24 hours & is probably set to continue that way for the next few days/weeks in some part due to the civil war over at BCH betwwen Ver/Wu & CW.

With what they’re doing (selling BTC to support their shit show) it’s made the BTC price crash (plus traders making it worse by panic selling).

Any way it doesn’t really matter why the price is volatile AF but it is. This affects gamblers & the bets you’re placing. A $20 (in bitcoin) bet made 2 days ago for football games tonight isn’t the same as placing a $20 bet (in bitcoin) tonight.

Just be fucking careful please guys because you could get burnt badly (your winnings might look like shit by the time your result comes in with the way the price of bitcoin is going).

Just a friendly bit of advice any way, you don’t have to listen to me. Personally, I won’t be betting with bitcoin for a little while any way until the market sorts itself out.

Peace

The price of BTC really do affect the way gamblers place their bets because after all, you could lose more if you bet on a specific day. But this isn't important in all cases because there are also gamblers that bet for the sake of entertainment and not on the earning they can take. However, BTC prices must be still look out before betting on any gamble.. Gamblers, and everyone else that is in the industry linked to crypto, must learn when it is the best time to spend bitcoin and when it is the best time to convert BTC to other currencies. This step must be taken seriously especially if the gamble would take several days.

Imagine if you bought 1 BTC for 4k USD and  betting on a Monday morning with 1 BTC. Then two days have passed and BTC prize decreased by half. Even though you won and now have 1.5 BTC, you shouldn't cashout it until the prized increase up to atleast 4k so it can still be worth it. This principle is what makes gambling and every other transactions with BTC more difficult to decide about because you can't risk to loss a lot of money. So, always study first the trend in the market and have patience for BTC.

[wow.magic]

Guys, you can tell me to fuck off if you want but as a fellow gambler & I suppose a friend I want to give a bit of advice -

The bitcoin price has been INCREDIBLY VOLATILE over the last 24 hours & is probably set to continue that way for the next few days/weeks in some part due to the civil war over at BCH betwwen Ver/Wu & CW.

With what they’re doing (selling BTC to support their shit show) it’s made the BTC price crash (plus traders making it worse by panic selling).

Any way it doesn’t really matter why the price is volatile AF but it is. This affects gamblers & the bets you’re placing. A $20 (in bitcoin) bet made 2 days ago for football games tonight isn’t the same as placing a $20 bet (in bitcoin) tonight.

Just be fucking careful please guys because you could get burnt badly (your winnings might look like shit by the time your result comes in with the way the price of bitcoin is going).

Just a friendly bit of advice any way, you don’t have to listen to me. Personally, I won’t be betting with bitcoin for a little while any way until the market sorts itself out.

Peace

The price of BTC really do affect the way gamblers place their bets because after all, you could lose more if you bet on a specific day. But this isn't important in all cases because there are also gamblers that bet for the sake of entertainment and not on the earning they can take. However, BTC prices must be still look out before betting on any gamble.. Gamblers, and everyone else that is in the industry linked to crypto, must learn when it is the best time to spend bitcoin and when it is the best time to convert BTC to other currencies. This step must be taken seriously especially if the gamble would take several days.

Imagine if you bought 1 BTC for 4k USD and  betting on a Monday morning with 1 BTC. Then two days have passed and BTC prize decreased by half. Even though you won and now have 1.5 BTC, you shouldn't cashout it until the prized increase up to atleast 4k so it can still be worth it. This principle is what makes gambling and every other transactions with BTC more difficult to decide about because you can't risk to loss a lot of money. So, always study first the trend in the market and have patience for BTC.

So, you're basicially saying that the time of cashout is the most important thing to look up upon?

[Hotrod_88]

Guys, you can tell me to fuck off if you want but as a fellow gambler & I suppose a friend I want to give a bit of advice -

The bitcoin price has been INCREDIBLY VOLATILE over the last 24 hours & is probably set to continue that way for the next few days/weeks in some part due to the civil war over at BCH betwwen Ver/Wu & CW.

With what they’re doing (selling BTC to support their shit show) it’s made the BTC price crash (plus traders making it worse by panic selling).

Any way it doesn’t really matter why the price is volatile AF but it is. This affects gamblers & the bets you’re placing. A $20 (in bitcoin) bet made 2 days ago for football games tonight isn’t the same as placing a $20 bet (in bitcoin) tonight.

Just be fucking careful please guys because you could get burnt badly (your winnings might look like shit by the time your result comes in with the way the price of bitcoin is going).

Just a friendly bit of advice any way, you don’t have to listen to me. Personally, I won’t be betting with bitcoin for a little while any way until the market sorts itself out.

Peace

The price of BTC really do affect the way gamblers place their bets because after all, you could lose more if you bet on a specific day. But this isn't important in all cases because there are also gamblers that bet for the sake of entertainment and not on the earning they can take. However, BTC prices must be still look out before betting on any gamble.. Gamblers, and everyone else that is in the industry linked to crypto, must learn when it is the best time to spend bitcoin and when it is the best time to convert BTC to other currencies. This step must be taken seriously especially if the gamble would take several days.

Imagine if you bought 1 BTC for 4k USD and  betting on a Monday morning with 1 BTC. Then two days have passed and BTC prize decreased by half. Even though you won and now have 1.5 BTC, you shouldn't cashout it until the prized increase up to atleast 4k so it can still be worth it. This principle is what makes gambling and every other transactions with BTC more difficult to decide about because you can't risk to loss a lot of money. So, always study first the trend in the market and have patience for BTC.

So, you're basicially saying that the time of cashout is the most important thing to look up upon?

Cashout time is surely important but the time when you bought BTC in the first place is also essential to look up upon since it will be the basis of the money you can earn.
But then again, it all goes down to the purpose of why you are playing online gambling. This game has various purpose that is depend upon its users definition. To what gambling is for you, will dictate you strategy, you willingness to play, and how patient you are in playing. Many people disregard their purpose after a few days of playing and it makes them quit it.

The three elements of gambling are consideration, risk (chance), and a prize. We all must understand that the last one isn't just about the money. Gambling per se also provide good entertainment to its players. The thrill of winning is what entices the players to gamble and the money is mostly for the purpose of repeating the game of gamble.

[Johnzky]

Thanks for informing us mate, probably even if you won on gambling there's nothing left to be called as profit because the btc could turn against your winning streak.

I will only gamble on fiat for this week or so.

Indeed mate ,@LFC_Bitcoin is always been here for cryptonians to help and this advice is truly a friendly from someones having a concern for others.thanks for this LFC as this may bring more  careful for us when it gets to gambling habits

@bigmaster23 its much better to gamble in fiats as bitcoin can grow anytime because of what we all know are volatile

[prtty2gal2]

Cashout time is surely important but the time when you bought BTC in the first place is also essential to look up upon since it will be the basis of the money you can earn.
But then again, it all goes down to the purpose of why you are playing online gambling. This game has various purpose that is depend upon its users definition. To what gambling is for you, will dictate you strategy, you willingness to play, and how patient you are in playing. Many people disregard their purpose after a few days of playing and it makes them quit it.

The three elements of gambling are consideration, risk (chance), and a prize. We all must understand that the last one isn't just about the money. Gambling per se also provide good entertainment to its players. The thrill of winning is what entices the players to gamble and the money is mostly for the purpose of repeating the game of gamble.

Thanks for this mate; I think you have said it all; it all boils down to the purpose of first starting gambling.
Many do it for entertainment and they definitely will not share same playing tactics with those who are involved in it for the money. Like the above mate, has however clarified that it all depends on how long one intends to stay on the gambling because even on ordinary days people loose.

Well, the overall answer knows when why you are playing and if you do not mind making loses but if the goal is to make money, I think it is important to know when to spend Bitcoin especially when it comes to betting.