Does bitcoin's price volatility affect your gambling habits?

[cjmoles]

You people are freaking me out here ---> if you budget your bankroll by setting aside a PERCENTAGE of your bankroll for gambling, then that percentage remains the same.  It doesn't change --->concentrating on the exchange rates and mixing up the conversions factors, while playing, will only lead to confusion.  It's unnecessary.  If you have to worry about the exchange rates while you're gambling, then your bankroll management budget needs to be re-evaluated, or ---> maybe you shouldn't be gambling.

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[chris200x9]

So does this factor affect how you gamble?

If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?

If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?

yes it greatly affects my bets on gambling, for example if the value of bitcoin today is low then i bet high amounts because i cant earn much profit if my bets are low as the value of bitcoin is low already. but if the price of bitcoin is a high enough , i dont usually gamble my balance because i feel that my losses are big enough and ill regret it  much if i loose it on gambling so id rather save it up and wait again sooner or later if the value begins to drop again.

so you are just playing or betting when bitcoin value are low aren't you? you can always convert it first to fiat for you to check if how much money you can afford to lose before playing, for those who really attached with gambling they ain't needed to worry about the value since they are basing their bankroll with the amount of fiat they got, its also a safe precaution in order for us to use the money that we can afford to lose.

You either calculate your bet amount in fiat or BTC. But don't mingle both your calculation will become wrong. Suppose if you bet by counting in BTC after winning your bet, of course, you will receive more bitcoins. Your investment plus winning bitcoins. Here you just calculate how much BTC you received don't convert it into USD. Or else do betting by based on USD calculation then you will get one idea that you are in winning side or losing side.

[LuffyD.Monkey]

So does this factor affect how you gamble?

If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?

If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?

No, my gambling strategy doesn't change with the fluctuations in the USD/BTC exchange rates. I manage my bitcoin bankroll in terms of bitcoin only and I don't think about its conversion rates. I determine the amount of my daily gambling budget based on a percentage of my bankroll and I play at the stakes determined by that budget. The results are the same either way ---> 10% of $100 is the same as 10% of $100 worth of bitcoin ---> it makes no difference as long as the two quantities aren't unnecessarily mixed up in the process.

Sometimes it makes me think that it gets too expensive to play since btc rises in value and I may consider saving that use it for playing but sometimes we can't really stop ourselves so still give ourselves a chance to play.

It is a nice thought to save bitcoins. Those people who have invested in bitcoins in the past are enjoying a cherished life today and if someone will save bitcoins today, no doubt he will be securing a luxurious future. The best is to place a bet with a little amount of BTCs.

[milewilda]

So does this factor affect how you gamble?

If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?

If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?

No, my gambling strategy doesn't change with the fluctuations in the USD/BTC exchange rates. I manage my bitcoin bankroll in terms of bitcoin only and I don't think about its conversion rates. I determine the amount of my daily gambling budget based on a percentage of my bankroll and I play at the stakes determined by that budget. The results are the same either way ---> 10% of $100 is the same as 10% of $100 worth of bitcoin ---> it makes no difference as long as the two quantities aren't unnecessarily mixed up in the process.

Sometimes it makes me think that it gets too expensive to play since btc rises in value and I may consider saving that use it for playing but sometimes we can't really stop ourselves so still give ourselves a chance to play.

It is a nice thought to save bitcoins. Those people who have invested in bitcoins in the past are enjoying a cherished life today and if someone will save bitcoins today, no doubt he will be securing a luxurious future. The best is to place a bet with a little amount of BTCs.

Its always been advisable to save up bitcoin as much as we can and if we do decide to use it on playing gambling then just set out an ample amount which would satisfy our cravings for leisure.Im sure those people who lost lots of btc in the past are regretting as of now when they do saw that the price of each bitcoin is already valuable.This is why we should not tend to waste it as of now.

[pearlmen]

If I say it doesn't occur to me sometimes, I would be lying because knowing what you are about to gamble is in relation to its equivalent in dollar value but that does not deter me in gambling because I just set my mind at the winnings which will equally come in btc which won't come the same way it went in and converting back makes it much more interesting.

[btc-facebook]

If I say it doesn't occur to me sometimes, I would be lying because knowing what you are about to gamble is in relation to its equivalent in dollar value but that does not deter me in gambling because I just set my mind at the winnings which will equally come in btc which won't come the same way it went in and converting back makes it much more interesting.

I think when people own bitcoin let say from 2011 and they have 1000 btc on their wallet, I think they keep gamble with same amount every bet although they aware that they are gamble with higher amount.
Also it depend on people who want to keep gamble with or without pay attention on bitcoin value per betting

[LuanX3]

If I say it doesn't occur to me sometimes, I would be lying because knowing what you are about to gamble is in relation to its equivalent in dollar value but that does not deter me in gambling because I just set my mind at the winnings which will equally come in btc which won't come the same way it went in and converting back makes it much more interesting.

I think when people own bitcoin let say from 2011 and they have 1000 btc on their wallet, I think they keep gamble with same amount every bet although they aware that they are gamble with higher amount.
Also it depend on people who want to keep gamble with or without pay attention on bitcoin value per betting

The thing is if you started gambling using bitcoins and prices go up, then the fact is that your bitcoins remain the same amount. So for example, if you had 1,000 bitcoins in 2011 and you are still gambling till today, do you lower the amount you bet or just retain the status quo? Since in this case you still are gambling in bitcoins and not in dollars.

[el kaka22]

Those people who have invested in bitcoins in the past are enjoying a cherished life today and if someone will save bitcoins today, no doubt he will be securing a luxurious future. The best is to place a bet with a little amount of BTCs.

Its always been advisable to save up bitcoin as much as we can and if we do decide to use it on playing gambling then just set out an ample amount which would satisfy our cravings for leisure.Im sure those people who lost lots of btc in the past are regretting as of now when they do saw that the price of each bitcoin is already valuable.This is why we should not tend to waste it as of now.

Gambling with such a precious asset like bitcoins is also not supported by me. Some people say that they gamble in an amount of bitcoins that is equivalent to what they intended for fiat but unlike fiat bitcoin price keeps on evolving and this way the bitcoin gambler suffers more loss over time unnecessarily.

I am sure after few years when a gambler will be calculating how much they have wagered and how much they have had lost. If those figures sum up into million dollars, I could not assume how their feeling will be.

[preevi]

Of course,  bitcoin's price volatility affect gambling activity
Especially for our profits if convert in USD
but for gambling activity its not too affected

[LuffyD.Monkey]

Those people who have invested in bitcoins in the past are enjoying a cherished life today and if someone will save bitcoins today, no doubt he will be securing a luxurious future. The best is to place a bet with a little amount of BTCs.

Its always been advisable to save up bitcoin as much as we can and if we do decide to use it on playing gambling then just set out an ample amount which would satisfy our cravings for leisure.Im sure those people who lost lots of btc in the past are regretting as of now when they do saw that the price of each bitcoin is already valuable.This is why we should not tend to waste it as of now.

Gambling with such a precious asset like bitcoins is also not supported by me. Some people say that they gamble in an amount of bitcoins that is equivalent to what they intended for fiat but unlike fiat bitcoin price keeps on evolving and this way the bitcoin gambler suffers more loss over time unnecessarily.

I am sure after few years when a gambler will be calculating how much they have wagered and how much they have had lost. If those figures sum up into million dollars, I could not assume how their feeling will be.

It would be catastrophic actually. I also oppose gambling with all digital assets, especially bitcoins. It is going to touch 10k dollars within two years and then of course all those gamblers who are carelessly losing it today will be regretting. It is better to gamble with fiat and much better to not even gamble.

[steveabrahams]

So does this factor affect how you gamble?

If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?

If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?

Yes I do, i always deposit my bitcoin to gambling site is around $100 per week if i lose it all i will deposit again next week but if i can run it i will not deposit. When the price go up, i will lower my deposit and when the price go down, i will deposit more. For each bet, still same and don't care about the price.

[michaelch]

Yes, for sure. When bitcoin wasn't so valuable, you can bet I didn't care all that much. But when the price is increasing by leaps and bounds, it does make me think twice about putting down a large bet.

[paul00]

Yes i think my gambling bet thru bitcoins varies on the value of each coin. However it is not lime how you described its changing. As for me when i gamble my coins i am basing it on the value if it on our currency. So once the coin gets a higher value i tend to bet less and when it ia its lower value i tend to bet more. Moreso I  am not so much into gambling my coins because its risky

[Kiweikoo]

So does this factor affect how you gamble?

If prices go up, do you lower you bets? For example, you normally bet 0.001 per bet, do you lower it to 0.0001 per bet?

If prices go down, do you place higher bets? For example, you normally bet 0.001 per bet, do you place higher bets like 0.01 per bet?

Yes I do, i always deposit my bitcoin to gambling site is around $100 per week if i lose it all i will deposit again next week but if i can run it i will not deposit. When the price go up, i will lower my deposit and when the price go down, i will deposit more. For each bet, still same and don't care about the price.

You can buy a lot of food by these 100 dollars that you keep on saving in gambling sites every week and food is much better than gambling. You must be winning and losing. Also as you are a regular customer, you must be actually losing more because house always does this with such people.

Don't you think your bitcoins are actually being wasted away and you can utilize them in some more beneficial way?

[milewilda]

Those people who have invested in bitcoins in the past are enjoying a cherished life today and if someone will save bitcoins today, no doubt he will be securing a luxurious future. The best is to place a bet with a little amount of BTCs.

Its always been advisable to save up bitcoin as much as we can and if we do decide to use it on playing gambling then just set out an ample amount which would satisfy our cravings for leisure.Im sure those people who lost lots of btc in the past are regretting as of now when they do saw that the price of each bitcoin is already valuable.This is why we should not tend to waste it as of now.

Gambling with such a precious asset like bitcoins is also not supported by me. Some people say that they gamble in an amount of bitcoins that is equivalent to what they intended for fiat but unlike fiat bitcoin price keeps on evolving and this way the bitcoin gambler suffers more loss over time unnecessarily.

I am sure after few years when a gambler will be calculating how much they have wagered and how much they have had lost. If those figures sum up into million dollars, I could not assume how their feeling will be.

This would really be the thing on which you would lose up those bitcoins which later on on upcoming years you would able to calculate on how much you do lose bitcoins which would really give some regretful moments thinking up that we shouldnt use bitcoins on our gambling habit but its too late,things are already done and we cant fix that anymore.This is why we should think of on how we do spend our bitcoin wisely.

[yrreg ger]

Yes, for sure. When bitcoin wasn't so valuable, you can bet I didn't care all that much. But when the price is increasing by leaps and bounds, it does make me think twice about putting down a large bet.

Right, but I think more people are most likely to use bitcoin in gambling when its price is high. They think that using bitcoin at high price will consume lesser amount of bitcoin. Well that is true but just like you, I am more likely to have a second though in using bitcoin if I know that its price rising. That is the time and is a good opportunity for me to earn profit so why would I waste it in playing gambling.

[sukamasoto]

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

[mrcash02]

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

I bet proportionally to the Dollar price too, so it affects my game a lot and more than this, when I see BTC price is too volatile I prefer to don't gamble, better to wait the prices become stable again, the volatility can bring a nice opportunity of guaranteed profit that gambling doesn't offer us, so it would be a waste of BTCs to gamble while the prices are changing too much.

I think there are some crazy guys that still bet 1 BTC sometimes at once. $4000 is nothing for millionaires/billionaires. 

[noormcs5]

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

It is a normal behavior when we start our bet, if bitcoin price is in a high value, then sometime we feel consciously and avoid to play with a big money, and prefer to play with a small bet, and i think it is a right thinking for being a good gambler. For example, If we use our big money when bitcoin price is too high, and by chance we have lost our bet, then it mean we have our big lost. However always take a right step and decision, firstly see price value of bitcoin and then start betting.   

[btc_angela]

Since I looked bitcoin value in dollar so yes it's affect my gambling habit when bitcoin value getting expensive.
I'm wonder if someone able still bet 1 btc per bet just like happen on three years ago, but yes...when you want profit, dare to take the risk or you got nothing !

It is a normal behavior when we start our bet, if bitcoin price is in a high value, then sometime we feel consciously and avoid to play with a big money, and prefer to play with a small bet, and i think it is a right thinking for being a good gambler. For example, If we use our big money when bitcoin price is too high, and by chance we have lost our bet, then it mean we have our big lost. However always take a right step and decision, firstly see price value of bitcoin and then start betting.   

I agree. You just tend to be conscious of your betting pattern specially when the price of bitcoin is too high. I remember I played with just .01BTC in a dice game. However, that time the price is too high so I just bet conservatively. Because if I'm going to convert it to fiat, its big money for me. But then I lost, so its really hard for me. That's why I only do play when I think that I can afford the bitcoin that I used in gambling. Because it really affects one's betting strategy if the price is too high, well in my case.