Does bitcoin's price volatility affect your gambling habits?

[cjmoles]

It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.

This is completely seperate from the USD value of the bet.

You are one of the few in this thread who understands the reasoning here.  It appears that there are a significant number of gamblers in the thread who are not aware of the advantages associated with maintaining a bankroll management budgeting strategy. It makes me wonder how they can continue to play ---> they should be broke already!

But, shhhh ---> as long as it's a zero sum game ---> I guess we win!  LOL

[1714873625]

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[MinerHQ]

It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.

This is completely seperate from the USD value of the bet.

But also need to adjust your % of bankroll if Bitcoin prices go very high because if you still reserve the same % of bankroll every time to gamble then you may be going lose more money if prices are more. It is not a smart move because you might have bought these Bitcoins at a lower price but if you're losing Bitcoins when prices are high means you're losing more money.

[milewilda]

It doesnt. My bankroll management basically only allows me to gamble set % of my total bankroll.

This is completely seperate from the USD value of the bet.

But also need to adjust your % of bankroll if Bitcoin prices go very high because if you still reserve the same % of bankroll every time to gamble then you may be going lose more money if prices are more. It is not a smart move because you might have bought these Bitcoins at a lower price but if you're losing Bitcoins when prices are high means you're losing more money.

Its not actually on percentage basis but you can also prefer to see on local fiat value.If you do follow this one then it would really be hard for you to lose your capital very fast on playing gambling.Value does rise but anytime we can able to adjust on the amount that we would like to bet which means its not really an issue if bitcoins price would rise anytime since we do base our bet on the amount on local fiat.

[FlightyPouch]

Of course! When bitcoin price move up too high I will make my bets a bit lower and vice versa. I think most people will do the same thing as well.

Basically, the equivalent amount in dollars that you are willing to bet will remain same, but the decimals in bitcoins will change accordingly. Still playing the safe game! But using bitcoins for gambling, where you can lose your bitcoins very easily is not very smart after all.

I think it is the opposite. When the bitcoin price increases, I change the decimal of my bitcoin to match my past bets because if I don't the value of it in dollars is so high for me to lose or to bet. But yeah, it is still better to play the safe game, though I just gamble when I feel it.

[noormcs5]

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?

Yeah, i do it. Actually, bitcoin price does volatility affect more than other altcoin's price. Then it is better to use bitcoin in gambling, as you give us example. Usually, i do use more bitcoin in betting when bitcoin price down and whenever bitcoin price go to up then sometime i left to play gambling, the fear of losing my expensive bitcoin. 

[ethereumhunter]

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?

Yeah, i do it. Actually, bitcoin price does volatility affect more than other altcoin's price. Then it is better to use bitcoin in gambling, as you give us example. Usually, i do use more bitcoin in betting when bitcoin price down and whenever bitcoin price go to up then sometime i left to play gambling, the fear of losing my expensive bitcoin. 

yes and i am reduce my bets using bitcoin and still using altcoin to place a bets. but if i want to use bitcoin as a bets, i only want to place a small amount because bitcoin is the important thing for me and when bitcoin price volatility, i'd better to use bitcoin to make profit than just playing gambling.

[roadbits]

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?

Yeah, i do it. Actually, bitcoin price does volatility affect more than other altcoin's price. Then it is better to use bitcoin in gambling, as you give us example. Usually, i do use more bitcoin in betting when bitcoin price down and whenever bitcoin price go to up then sometime i left to play gambling, the fear of losing my expensive bitcoin. 

yes and i am reduce my bets using bitcoin and still using altcoin to place a bets. but if i want to use bitcoin as a bets, i only want to place a small amount because bitcoin is the important thing for me and when bitcoin price volatility, i'd better to use bitcoin to make a profit than just playing gambling.

Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.

[marlboroza]

Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.

And now instead of buying and holding bitcoins you will buy altcoin and gamble with it.
If you have 10$ to gamble, what is difference between buying bitcoin for 10$ and gamble with it and buying altcoin for 10$ and gamble with it? I don't see any. Enlighten me, please.

[rickadone]

Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.

And now instead of buying and holding bitcoins you will buy altcoin and gamble with it.
If you have 10$ to gamble, what is difference between buying bitcoin for 10$ and gamble with it and buying altcoin for 10$ and gamble with it? I don't see any. Enlighten me, please.

If someone is converting his bitcoins into altcoins just for the sake of gambling, it really is not a wise act. Crypto currencies can be used in more meaningful and beneficial ways. Bitcoins price will increase in a short span of time and that means his 10 dollars could have been more, if he would not have lost them in gambling.

[bajing]

No, I've determined how much money that I'll use to deposit on gambling sites because currently the transaction fee for sending bitcoin is high enough that make me think will better to calculate first instead of doing some deposit.

[wolf89874]

Yes of course it is, i did remember last year i still gambling with my base bet is 0.0001, but it's now only 0.000001, so you can see the bitcoin's price volatility affect very strong to my gambling habits.

[btcdevil]

I dont have affect of price volatility as i have invested a bankroll and just following it and according to it i am gambling and what ever the profit i am getting i just convert them to fiat currency without seeing the price as i cannot use bitcoin for any purchase or other thing that is why i have to convert to use it in my real life.

[ardentvolcanoes]

I dont have affect of price volatility as i have invested a bankroll and just following it and according to it i am gambling and what ever the profit i am getting i just convert them to fiat currency without seeing the price as i cannot use bitcoin for any purchase or other thing that is why i have to convert to use it in my real life.

Yes same thing I do, I really don't mind the price of the bitcoin since it really doesn't affect my gambling habits. I also convert my earnings into fiat because right now using bitcoins online are still limited in our country so most of the things I like to purchase need to use a fiat.

[buyinbtc]

Yes of course it is, i did remember last year i still gambling with my base bet is 0.0001, but it's now only 0.000001, so you can see the bitcoin's price volatility affect very strong to my gambling habits.

Your base bet is way too small imo, unless you play with martingale strategy... I don't think bitcoin price should change how much bitcoins you'll gamble, unless you buy bitcoins only to gamble them. Otherwise you shouldn't care how much 0.01 is when you gamble it.

[lorylore]

Bitcoin has grown so much that i dont really gamble in bitcoin anymore. I prefer to gamble with dogecoin or claims. I also prefer to gamble in casino that register as mbtc instead of btc cause i dont like small numbers like 0.001btc. Although it is just visual effect, gambling suppose to be a leisure that make you happy.

[marlboroza]

Now playing gambling with altcoins is a safe method to save our bitcoins for future purpose. A couple of months before i use to play gambling with bitcoins, why because the price was low and I don't have that much crazy about this Bitcoin and not expected that Bitcoin price will reach $4k in just a few months. If I predicted this before I never use to play gambling with bitcoins. Atleast now i can realise and save some coins.

And now instead of buying and holding bitcoins you will buy altcoin and gamble with it.
If you have 10$ to gamble, what is difference between buying bitcoin for 10$ and gamble with it and buying altcoin for 10$ and gamble with it? I don't see any. Enlighten me, please.

If someone is converting his bitcoins into altcoins just for the sake of gambling, it really is not a wise act. Crypto currencies can be used in more meaningful and beneficial ways. Bitcoins price will increase in a short span of time and that means his 10 dollars could have been more, if he would not have lost them in gambling.

I am only saying it is the same thing.
Gambling with 8.37€ or 0.0027BTC or 10000 DOGE is the same thing. They all worth 10$! If you want to gamble with 10$ it doesn't matter which currency you will use to spend 10$.

[KuromaYoichi]

No it doesn't because i always use the same unit size when gambling whether the price is high or not. The only difference is the total bankroll i play with. When the price is rather high, the bankroll is relatively smaller compared to when the price is down.

[FasTroy]

No it doesn't because i always use the same unit size when gambling whether the price is high or not. The only difference is the total bankroll i play with. When the price is rather high, the bankroll is relatively smaller compared to when the price is down.

I am also not affected by bitcoin price volatility, I always use the same amount on bitcoin even if the price is high or low. I don't have any problem with that, It doesn't affect my gambling habits.

For exemple if the price of 1 btc is 4700$, I bet with 0.01 btc for a singel or parlay in sportbettings, the same thing if 1 btc worth 3700$.

[Lauren Smith]

I don't really think people change their habits that much. I think they just think more in terms of btc then in terms of us value. Most casinos also dediakt to a 0.001 or 0.0001 btc bet. It's scary playing then realizing he much BTC has gone up. 0.001 can quickly become multiple of 0.01 and I'd things go bad that into dangerous territory of close to a whole BTC.

[megynacuna]

I don't really think people change their habits that much. I think they just think more in terms of btc then in terms of us value. Most casinos also dediakt to a 0.001 or 0.0001 btc bet. It's scary playing then realizing he much BTC has gone up. 0.001 can quickly become multiple of 0.01 and I'd things go bad that into dangerous territory of close to a whole BTC.

From sports betting point of view I'm not affected by the volatility of Bitcoin that much and so I just follow through my limits on each single bet or parlay irrespective of the prevailing Bitcoin price and then place my bets. That discipline has helped me maintain a pattern whether or not Bitcoin prices rise or fall.