Fiat or crypto betting in bear market?

[quitstem01]

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.


Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

It would depend still on the gambler himself.
Some people would surely choose fiat because it would be cheaper in a sense that its value is consistent unlike in cryptos which changes from time to time, and whenever it is falling, your losses would be bigger. I would say that things are just equal. Indeed, fiat would be cheaper in a sense of having a consistent value but the transaction fees would surely cost higher. In cryptos, transactions are faster yet costs less. And personally, I do prefer using crypto for betting in gambling games than using fiat because of the convenience that it is giving to the users. We are on the era of block chain technology in gambling industry, and it won't happen for no reason.

I do also prefer using crypto in such activity as online gambling. They are saying that it promotes more security. Is that right?

[crzy]

I don't know man, seems like it doesn't matter whether bear or bull is happening, I am only using my crypto asset as gambling money. My fiat money is not free money though, I use it to pay my bill and living-cost. And my crypto is free to be spent on anything, and I mostly gambling for fun. So, yeah I will still use crypto even when it is bearish.

And is crypto free money for you? You must be one lucky guy

I have a different understanding of this. Fiat money won't go up in value but it will go down 2% a year due to inflation. Crypto can go up by a lot in the next bull market. Why would I spend something that can rise in value and hold something that falls inevitably?

Great! We should really not use our crypto during bear market because its value is lower than the cost and you might miss the chance to have profit if bull market comes. I also want to use fiat money during bear because Cryptocurrency is my investment and I should use it with profit.

[Pffrt]

That doesn't make any sense because both are same for a bearish and a bullish market. If you are going to lose 1 BTC now, you are going to profit 1 BTC too. Anyway, if your BTC have been bought back in the time of high price, it will be better to consider only BTC.

[Yatsan]

Want your opinion on this guys.

We are situated in a bear market for some time and with a huge crash happened the past 2 weeks.

Do you guys keep betting with crypto and stack your crypto profits or do you prefer to switch to fiat betting and convert fiat winnings in crypto?
Me personally I love to bet on sports, fiat as well as on crypto platforms. However during the crash I switched to betting on fiat bookies for 90% of my bets.
Profits i make at this moment with fiat bookies i use to buy crypto cause of the cheap prices. those converted profits i deposit on crypto bookies and try to make some profits in crypto as well.


Don't know you share the same strategy or rather stick to fiat and/or crypto bookie as you usually do.

It would depend still on the gambler himself.
Some people would surely choose fiat because it would be cheaper in a sense that its value is consistent unlike in cryptos which changes from time to time, and whenever it is falling, your losses would be bigger. I would say that things are just equal. Indeed, fiat would be cheaper in a sense of having a consistent value but the transaction fees would surely cost higher. In cryptos, transactions are faster yet costs less. And personally, I do prefer using crypto for betting in gambling games than using fiat because of the convenience that it is giving to the users. We are on the era of block chain technology in gambling industry, and it won't happen for no reason.

I do also prefer using crypto in such activity as online gambling. They are saying that it promotes more security. Is that right?

That's indeed true. Cryptos are brought by block chain technology. Instead of uploading data to a cloud server or storing it in a single location, blockchain breaks everything into small chunks and distributes them across the entire network of computers. It’s a digital ledger of transactions that lacks a central control point. Each computer, or node, has a complete copy of the ledger, so one or two nodes going down will not result in any data loss.Everything that occurs on the blockchain is encrypted and it’s possible to prove that data has not been altered. Because of its distributed nature, you can check file signatures across all the ledgers on all the nodes in the network and verify that they haven’t been changed.  These reasons makes it suitable in online gambling.

[freedomgo]

That doesn't make any sense because both are same for a bearish and a bullish market. If you are going to lose 1 BTC now, you are going to profit 1 BTC too. Anyway, if your BTC have been bought back in the time of high price, it will be better to consider only BTC.

If you are focus on gambling, this price fluctuation in the market will not affect you.
The value will rise and dump and you still stick with your method which is to cash out regularly, sometimes the timing is bad, sometimes good.

So, there's really no significant effect on your winning.

[goaldigger]

Ill go for fiat for now. Bitcoin's market value is fit for holding until the market becomes stable. It also makes me have more resources when the prices are still low. A few bets maybe but not as many as possible. We can still have fun using fiats and i think that has no difference at all.

[Betwrong]

~ Why would I spend something that can rise in value and hold something that falls inevitably?

I agree with you on this. However, since I never play with significant amounts it doesn't matter for me whether we are in bear market or not. Yes I know that $1 I lose today in crypto can be worth $5 someday in the future, and maybe even this year, but even losing $5 is not the end of the world, right? Besides, $1 is not the smallest amount you can bet with on crypto gambling sites. You can play with fractions of a cent there, which is hardly possible on fiat sites.

[JohnBitCo]

I don't know man, seems like it doesn't matter whether bear or bull is happening, I am only using my crypto asset as gambling money. My fiat money is not free money though, I use it to pay my bill and living-cost. And my crypto is free to be spent on anything, and I mostly gambling for fun. So, yeah I will still use crypto even when it is bearish.

And is crypto free money for you? You must be one lucky guy

I have a different understanding of this. Fiat money won't go up in value but it will go down 2% a year due to inflation. Crypto can go up by a lot in the next bull market. Why would I spend something that can rise in value and hold something that falls inevitably?

I think money is money whether it be crypto or fiat. It depends which you are earning. Most people are earning crypto through online methods while getting Fiat from their daily jobs / Business etc. You can use either crypto or Fiat in betting as if you lose any amount of both, it will be a loss of course. Since both are convertible to another so it does not make sense to use Fiat for gambling just because crypto can rise in future.

[maydna]

Ill go for fiat for now. Bitcoin's market value is fit for holding until the market becomes stable. It also makes me have more resources when the prices are still low. A few bets maybe but not as many as possible. We can still have fun using fiats and i think that has no difference at all.

I think it is better for us to not playing gambling for now because we still used fiat, we still want to see bitcoin and altcoin market to go up in someday. I think by take a break for a while from gambling, it could help us to refresh our mind and we can do another thing so when we decide to come back in the bull market, we could have a new power

In the bear market, it will be good for us if we can just hold bitcoin or altcoin, so we don't have to spend on unnecessary things if we are not selling to make some profit. But if you still want to play gambling with fiat, then you are free to choose but still be careful because you can lose your money.

[MFahad]

Ill go for fiat for now. Bitcoin's market value is fit for holding until the market becomes stable. It also makes me have more resources when the prices are still low. A few bets maybe but not as many as possible. We can still have fun using fiats and i think that has no difference at all.

I think it is better for us to not playing gambling for now because we still used fiat, we still want to see bitcoin and altcoin market to go up in someday. I think by take a break for a while from gambling, it could help us to refresh our mind and we can do another thing so when we decide to come back in the bull market, we could have a new power

In the bear market, it will be good for us if we can just hold bitcoin or altcoin, so we don't have to spend on unnecessary things if we are not selling to make some profit. But if you still want to play gambling with fiat, then you are free to choose but still be careful because you can lose your money.

Yes, crypto are valuable assets and keeping in view that one day bitcoin will rise to 50K or more, it is not wise to risk it in gambling. It is better to keep the crypto assets save with us. Doing gambling with fiat is good option but still do not risk the amount which you think is not affordable to lose.

[passwordnow]

I'll go also with those gamblers that chose fiat betting. I'm also very optimistic about bitcoin rising up very soon so I don't want to miss that moment that the current coin that I hold will increase.
I can survive to wait for that time until it comes rather than will go gamble with my precious coin and regret later after witnessing the price pump. I can endure the temptation to go gamble all in with crypto, I'll still gamble with crypto but it's minimal.

[sheenshane]

I'll go also with those gamblers that chose fiat betting. I'm also very optimistic about bitcoin rising up very soon so I don't want to miss that moment that the current coin that I hold will increase.
I can survive to wait for that time until it comes rather than will go gamble with my precious coin and regret later after witnessing the price pump. I can endure the temptation to go gamble all in with crypto, I'll still gamble with crypto but it's minimal.

It looks like people now are really saving their crypto asset and wait for the bullish trend and didn't expend it due to the market crash. Just like me, previously I used my bitcoin to in betting and other gambling site but now I've realized that it is regrettable if you witness the market goes up but you don't have any fraction of bitcoin because all of them you have lost. I much prefer to used fiat in gambling as of now.

[jvdp]

I'll go also with those gamblers that chose fiat betting. I'm also very optimistic about bitcoin rising up very soon so I don't want to miss that moment that the current coin that I hold will increase.
I can survive to wait for that time until it comes rather than will go gamble with my precious coin and regret later after witnessing the price pump. I can endure the temptation to go gamble all in with crypto, I'll still gamble with crypto but it's minimal.

Are you dream11 betting or any casino site betting person? there are people really crazy about the gambling site recent days because of club matches. It is really good about making money if you follow the strategy which is been published on the youtube or other sites.

If you own funds with major cryptos or gambling site token utilize it do not bother about the amount you spend on it. Definitely luck will speak to your side for sure.

[LUCKMCFLY]

I'll go also with those gamblers that chose fiat betting. I'm also very optimistic about bitcoin rising up very soon so I don't want to miss that moment that the current coin that I hold will increase.
I can survive to wait for that time until it comes rather than will go gamble with my precious coin and regret later after witnessing the price pump. I can endure the temptation to go gamble all in with crypto, I'll still gamble with crypto but it's minimal.

It looks like people now are really saving their crypto asset and wait for the bullish trend and didn't expend it due to the market crash. Just like me, previously I used my bitcoin to in betting and other gambling site but now I've realized that it is regrettable if you witness the market goes up but you don't have any fraction of bitcoin because all of them you have lost. I much prefer to used fiat in gambling as of now.

Due to the high volatility of the bitcoin and knowing that we are in a market of accumulation phase, I do not see still profitable to bet with FIAT, I prefer to take advantage of the high volatility to accumulate satoshis that at some point the price of the bitcoin will rise.
In a bear market, the satoshis increase with the prizes, just keeping them would be playing a double game to win.

[Ucy]

It all depend on the betting site. If they receive payment in crypto without adjusting their price in fiat value then it is OK to gamble with crypto. But I doubt if most betting sites wouldnt adjust their prices

[omonuyak]

Whenever crypto market goes into a state of depression I usually exit and forget about it for some time. I don't want the depression to influence my actions and my mood, so I don't check the price, don't sell any cryptocurrency and don't gamble with it. If you hold cryptocurrency bought earlier this year don't sell it and don't spend it because you'll get much less than you should.

Did you know there is a lot of money to be made during depression and downwards trend?  Betting and binary options traders really do make good money during depression like this and learn of how to predict were the market will be par time maybe what you will just be doing in other to make good money from the market.

[akram143]

It all depend on the betting site. If they receive payment in crypto without adjusting their price in fiat value then it is OK to gamble with crypto. But I doubt if most betting sites wouldnt adjust their prices

yes you are correct it always depends upon how the gambling sites will make their adjustment with them Fiat value then only we can make higher income from this type of state that we are facing here.

[cryptovigi]

I personally do not see the difference between betting on fiat and crypto. you can always bet on crypto and if you win, exchange them for fiat or vice versa - what a difference ...
some write that it is better to bet in the crypto because the win may increase if the odds increase but it may fall down as well and then the win will decrease - in my opinion both ways are equitable

[trashman43]

The current situation of the crypto market does not affect my betting strategy. To be honest, I prefer betting in crypto than in fiat. Betting in crypto helps me to accumulate a lot of  bitcoin or ethereum whenever I win a bet. I see cryptourrency as a currency which its value changes constantly, once betting with it, the value is of less importance to me. I'm just concern about how i will be able to accumulate more of it... 

[trashman43]

It looks like people now are really saving their crypto asset and wait for the bullish trend and didn't expend it due to the market crash. Just like me, previously I used my bitcoin to in betting and other gambling site but now I've realized that it is regrettable if you witness the market goes up but you don't have any fraction of bitcoin because all of them you have lost. I much prefer to used fiat in gambling as of now.

I don't think there is gonna be a bull run this year or next year. The crypto market is currently in a state where the prices are within a certain range of prices which is some how trying to stabilize. And with regard to betting with either crypto or fiat, the value is the same. When you bet in fiat and you lose, your money is gone, and when you bet with your crypto coin and lose, your money is also gone.