Gambling risk is higher when we are on Bear Market?

[Upgate]

If I happen to be John I will hold some bitcoin because the price might just rise again but if I happen to need money urgently and have to resort to gambling I would bet on low risk why?  Because am not a fan of high risk gambling

[Barcode_]

In my opinion, I think it is not necessary to try and gamble in a casino to win more bitcoins in order to decrease the losses suffered in trading for the trader, because the trader would still be holding the same amount of bitcoins he purchased from the Crypto-currencies trading market. The loss would be even more huge if he lose away all of his bitcoins in the casino, and I believe that would truly be a disaster for that person.

[FlightyPouch]

If I happen to be John I will hold some bitcoin because the price might just rise again but if I happen to need money urgently and have to resort to gambling I would bet on low risk why?  Because am not a fan of high risk gambling

Can give us some example? Usually bitcoin is used with high risk gambling games like dice. It is true that there sports betting but if you will be that scared od betting it on high risk, better save it and trade it with other crypto currency. This low risk may not be as scary as high risks but those games would eat you alive really slow.

[lienfaye]

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Betting in huge amount with high risk is like giving away your money because the chance to win is low and we know gambling is more on luck, you cant recover your losses if its your way to gain it back.

I'd rather hold my bitcoins and wait for the bull run, we know how btc perform we might be in bearish trend now but the time will come the price will recover. Just hold because you wont lose anything unless you already sell.

[serjent05]

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

Gambling risk in playing in a casino has nothing to do about the fall of Bitcoin price.  Once you use this bought Bitcoin to gambling, that is where gambling risk comes in.   If it was me, I would only use 25% of that BTC to gamble if I win then it's good, if lost, at least I still have 75% of that Bitcoin.  Who knows one day Bitcoin price recovered and I believe we never lost any value as long as we don't sell.  1 Bitcoin is equivalent of 1 Bitcoin regardless of changes on its price value.

[DarkDays]

People tend to avoid gambling during a bear market, simply because they have likely already experienced significant losses because the market is in decline.

Naturally, after losing a lot of money, people go into a risk averse mindset, and are not looking to take on additional risk by gambling. Similarly, you find that when people have come into easy money, e.g. after benefiting from a bull market, they are more likely to risk it to win more by gambling.

This is a common mindset, but not everywhere thinks the same.

[vintages]

It is because many people believe that the bear market should be a time to stock up your wallet and not lose it.
So many people see it as risk taking, especially when they are expect to play with Bitcoin which is obviously has more valuable than other cryptocurrency.
The best way remains playing with altcoins during the bear market..

[aioc]

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

This is gambling it's hard to break even here or decrease your lost, you are literally giving up your hope to recover all your investment and the worst part is yet to come, you will be in sorry for the rest of your life if you lose all those Bitcoin in gambling and Bitcoin another all-time high, you will carry that for the rest of your life.

[maydna]

It is because many people believe that the bear market should be a time to stock up your wallet and not lose it.
So many people see it as risk taking, especially when they are expect to play with Bitcoin which is obviously has more valuable than other cryptocurrency.
The best way remains playing with altcoins during the bear market..

But I think if we can use the bear market to buy many coins, I think that will be a good time to collect more coins at a low price. So we will have a chance to make a lot of money if the bear market is ending. That will happens too in bitcoin when the bear market comes to bitcoin. People tend to buy bitcoin when the market is in the bear market because they know that is their chance to get bitcoin at a low price. But some people will stay and don't buy because they already buy bitcoin at a high price.

Related to gambling, people will reduce the time in the gambling game because they will save more bitcoin or altcoin so they will not lose in double time, in gambling and the market.

[Sithara007]

Your scenario is similar with this actually https://bitcointalk.org/index.php?topic=5172742.msg52075916#msg52075916

A guy who have "lost" value of btc from $13k to $4k (he didn't sell it yet), then decided to gamble it all for hoping he can recover at least same with his starting investment when he bought btc at @$13k, but luck wasn't on his side, he lost all of his bitcoins.

From that story, i can say gambling has higher risk than you facing bear market. You could lose all of your coins if you don't have any money management and your greediness.

Recovering your losses through gambling sounds like a stupid idea. People don't understand that you don't incur a loss (even in a bear market) unless you sell your coins. Ups and downs are very frequent in Bitcoin, and the bearish phase that we are seeing looks like a temporary one. If you could hold your coins for at least 6-7 months, then the chances are that the prices will recover and you will be in green again.

During this time, you can gamble using a small part of your funds (I would suggest 10-20%). I am someone who makes a lot of sports bets. And once in a while we get an opportunity to bet using extremely good odds. This happens when the betting site underestimates the chances of a particular team (probably due to lack of in depth knowledge). If you know that the odds given by the site doesn't correspond to the actual probability of their win, then you can go ahead and make a bet. Even if you lose, the losses will be more tolerable.

[Janation]

This is gambling it's hard to break even here or decrease your lost, you are literally giving up your hope to recover all your investment and the worst part is yet to come, you will be in sorry for the rest of your life if you lose all those Bitcoin in gambling and Bitcoin another all-time high, you will carry that for the rest of your life.

That is not the point here.

You are so sad and you look at gambling so desperate to take your loss back.

Obviously, a lot of people will say, that will not work but the thing here is that you want to get that loss back and you want it fast. Do you think you will still be that rational guy that will think gambling will solve that problem? No, you are desperate. Emotions can really eat up our brain ignoring rational things to just get what we want. I know that it is the worst solution, but still, path of least resistance.

[Ridwan Fauzi]

I'll be depend on my intention, I mean when I bought bitcoin and see it for long term investment then I'll hold it whatever will be. Because, I should know bitcoin is the promising place and in the future its price will high then I buy.

But, if my intention to buy bitcoin just for short term investment because I use lending money or I sell everything my asset to buy it then I'll choose gambling as my last option to recover my money. It is pair enough to face other high risk when I choose gambling, yeah I can feel what your thought at that situation and I'll do so if I were you.

[smyslov]

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

I don't think this is a good idea, and majority of people here will agree that you just want to lose your Bitcoin and this is a bad way to lose your Bitcoin, but if you are comfortable that you might lose your Bitcoin and really want to take a chance then only proceed if you are 100% sure, I wouldn't adviced that I am not your friend but even strangers will not advice you to gamble it.

[AicecreaME]

In my opinion, I think it is not necessary to try and gamble in a casino to win more bitcoins in order to decrease the losses suffered in trading for the trader, because the trader would still be holding the same amount of bitcoins he purchased from the Crypto-currencies trading market. The loss would be even more huge if he lose away all of his bitcoins in the casino, and I believe that would truly be a disaster for that person.

Exactly, I mean maybe he thought that it is okay to use it gambling because it is not expensive that time and he could make a profit from it if he will try gambling, many people are being tricked by gambling because earning money is so easy in just one roll ( if you're lucky enough to win) and most of the time you'll lose your money, been there done that. The worst part is that after huge losses, people are being provoke and get heated by this making themselves addicted to it, as an outcome they lose even more of what they don't afford to lose.

[Oilacris]

People tend to avoid gambling during a bear market, simply because they have likely already experienced significant losses because the market is in decline.

Naturally, after losing a lot of money, people go into a risk averse mindset, and are not looking to take on additional risk by gambling. Similarly, you find that when people have come into easy money, e.g. after benefiting from a bull market, they are more likely to risk it to win more by gambling.

This is a common mindset, but not everywhere thinks the same.

People does have really that different mindset which it would either they would tend to continue to risk up by means of gambling just to think on how to break even with their losses or would just simply hold up their assets and wait up for some recovery.

As we all know that most people aren't really that patient enough to wait up for long term that's why majority would really tend to gamble since they do know on how fast it can
possibly turn things upside down or in a short time without minding too much on the heavy risk ahead.

[STT]

People tend to avoid gambling during a bear market, simply because they have likely already experienced significant losses because the market is in decline.

You may be correct but this thinking is incorrect, a bearish market is when the established trend is towards a regular ongoing repeated decline in value.   The only thing which makes sense at that point is to use it or lose it, if the value is in decline anyway then its best to gamble and actually use the value current and present today rather then ensure a certain loss of whatever the rate of decline is.

  The risk is actually lower in a bear market comparatively.   The loss from a bet is reduced by the market price falling, if you lost 1 BTC and it was worth 10,000 yesterday and today your 1 BTC loss has a market price of 9000 then you have basically lost less then you thought.    The velocity of BTC should actually be rising in a fall as its better to use up any balances you might have.   On the other side in a bull market, its better to be cautious and bet slowly because you might gain even while asleep.

[Tungsten-1]

What's your thought about this?

I have a scenario for this topic:
John bought Bitcoins when at the price of $18,000 and decided it to HODL.
But after he bought some Bitcoin, the price is starting to decrease, from $18,000 to $10,000 and to $4,000.
So,he already lost his money for almost 50% and he decided to gamble his Bitcoins;

Here's the thing, if you are John and start to gamble, would you bet with high risk (betting with huge amount, betting in low chance of winning, etc)?

Since if it was me, I already lost a lot when I even bought those Bitcoins at $18,000 so the best thing I can do is to gamble it and earn more bitcoins to decrease my loss or breakeven it.

What can you say about this? Or maybe you already experienced this.

This is gambling it's hard to break even here or decrease your lost, you are literally giving up your hope to recover all your investment and the worst part is yet to come, you will be in sorry for the rest of your life if you lose all those Bitcoin in gambling and Bitcoin another all-time high, you will carry that for the rest of your life.

If the person is losing great deal of mighty bitcoin in gambling, he shall either pause gambling for sometime or shall quit it forever because bitcoin is the asset of crypto market. It is you can say in simple words the diamond of crypto market. Only a fool can think about gambling with bitcoin and keep doing it even when you are going in clear loss.

[GreatArkansas]

People tend to avoid gambling during a bear market, simply because they have likely already experienced significant losses because the market is in decline.

How about those people who are telling that;
"Bitcoin is so cheap right now, I need to stack and earn some satoshis, I will use my bitcoins or will buy now"
It's also like in trading, some traders want some bear market so they can stack more bitcoins or they will trade in some margin exchanges and short the market, reward=satoshis.
But I don't mean that there are also lot of trader in bear market.

[South Park]

In my opinion, I think it is not necessary to try and gamble in a casino to win more bitcoins in order to decrease the losses suffered in trading for the trader, because the trader would still be holding the same amount of bitcoins he purchased from the Crypto-currencies trading market. The loss would be even more huge if he lose away all of his bitcoins in the casino, and I believe that would truly be a disaster for that person.

Those that try to gamble in order to get back the money they have lost through trading do not see any other option, they know they cannot recover that money using their trading skills, they are also not suited for long term holding otherwise that would have been their first choice since there is not much you need to do to become a holder, so they see gambling as their last resort, they want to recover their money and they are not willing to wait and gambling offers them an attractive option even if we know their chances of success are low.

[iamsheikhadil]

In my opinion, I think it is not necessary to try and gamble in a casino to win more bitcoins in order to decrease the losses suffered in trading for the trader, because the trader would still be holding the same amount of bitcoins he purchased from the Crypto-currencies trading market. The loss would be even more huge if he lose away all of his bitcoins in the casino, and I believe that would truly be a disaster for that person.

Those that try to gamble in order to get back the money they have lost through trading do not see any other option, they know they cannot recover that money using their trading skills, they are also not suited for long term holding otherwise that would have been their first choice since there is not much you need to do to become a holder, so they see gambling as their last resort, they want to recover their money and they are not willing to wait and gambling offers them an attractive option even if we know their chances of success are low.

I partially agree. If the losses are in fiat value but the crypto he bought hasn't lessened by themselves, they should wait for the price rise as that will be the most beneficial. Because the price of crypto is bound to rise up. But if the losses are actually huge, and the person can afford to lose all balance or it's like urgent requirement with no other option, gambling can be done. I would prefer sports betting in this case with advices of an expert.