Gambling risk is higher when we are on Bear Market?

[GreatArkansas]

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.

[hamdi]

after already losing a lot i would tend to gamble with higher risk, you are right.

[XCANA]

I would go for betting in low chances of winning than to take a high risk. This exactly what am experiencing right now, I have been holding from 2018 till date and, checking my portfolio's, I discovered that my wallet is not increasing but rather decreasing, so, gambling with the remaining funds with high risk will prompt me to doom and, I hate DOOMED fellow.

[janggernaut]

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.

[Darker45]

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.

In this scenario, John is actually not losing at all. His amount of BTC remains the same. And to me 1 BTC is 1 BTC even if in fiat that is already losing value. He will only start to lose if he let his BTC slip through his hands through gambling and losing or selling out of panic.

And if I were John, nothing will change in my betting strategies. I mean, I do not bet by emotion. If BTC is going through the worst of bears, I wouldn't be wasting money by trying my luck in huge underdogs blindly hoping to win and recover my loss in fiat value. That is a desperate move that would only worsen one's situation. My bet will always go to whoever I think will win regardless of whether the market is rising or falling.

[milewilda]

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 is never been an option when we do talk about breaking even with our investments because if you do? Then expect the chances on having some deep losses or the worst you would lost all of the money you do had.You already lose due to volatility and you decided to gamble because you do like on atleast to break even?
What a wrong mindset we do have here,never ever consider gambling to work on that way because it will just worsen up the situation.

[Pab]

Gambling is always risk.It is also dangerous behavior pattern.To gamble with high risk to get  back lost money
There is possible to lost all capital very fast.So better to cool had and be patient

[GSpgh]

If someone wants to gamble they will find any excuse to do so. Maybe John bought more bitcoins at $4000 and now it's $8000 so he made some money and thinks he can afford to gamble some.

Bottom line: be responsible with your money, bear, bull, or goat - doesn't matter.

[elda34b]

Martingale will fuck him up. The chance is really small to get nearly 4x or more from gambling. Instead of doing that, he could increase your Bitcoin with lending or trading. He should have a better chance with those strategies, even though it needs time and skills too.

[DGulari]

It's very st*pid idea to gamble your bitcoin even though the price is down. Just like before, bitcoin back to $13k from only $4k, it just needed a little time for bitcoin bounce back or higher than before.
If i were him, i would hold my bitcoin and never do anything else

[BitcoinHunt3r]

Too reckless. Maybe that is what i want to say. Because lose in trading or holding not means we can catch it back with gambling. But maybe this thing can be read by other people so they not do same thing like John. It is reckless and careless thing to do.

[DoublerHunter]

Actually the reply above was right, he's not losing when it regards bitcoin quantity because that is still the same but the value to the dollar decreased. If Jhon wanted to sell his bitcoin and change into dollars probably the loss was there but if he decided to HODL and patiently wait until it has come back to the price when he invested. Probably he wanted to divert into dollars value that's why he facing the high risk and gamble his bitcoin hoping to recover the lost value of bitcoin due to the downtrend happen. Nevertheless, nothing to be lost if you keep holding on it.

[febriyana]

That is right.
But for me that is hard to choose keep hold or gamble it.
Because gambling is more risky than hold. We can lose all our bitcoin if choose wrong pick.
But if we only hold it, we don't see any profit progress.
I prefer gamble it with low risk formula, small profit but not too risk, so we can look progression on our Bitcoin.
If lose all just forget it. 

[spadormie]

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.

It's definitely John's choice to gamble or not to. If I were John I will never gamble. Well, in my own opinion gambling is more way in losing coins. Yet, even though that's the case for me, I don't stop gambling. I don't know why. Anyway, If I were John, I will just HODL it until another bull run. Who knows, probably it will go up right? Remember the first rule of gambling, don't be greedy.

[dobolspeed3]

In such circumstances John only has 2 choices. First he has lost the value of Bitcoin and holding must also require a long time to restore its value. And the second way is betting, betting there are also two choices. In order to reduce the loss at the beginning or bet and eventually lose it all. So betting in this case the risk is very high, even losing all the bitcoin you bought at $18k

[Itsmylife]

His psychological will look like this: bet a little, win a few times and then increase the bet to try to recover the lost when he bought BTC at $18k, he starts to lose, increases the bet bigger and continues to lose. In his mind he would think that anyway $18k was lost, so play all the rest, of course he will lose everything   and the ending is according to your imagination.

[jakoylantern]

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.

For me, I will bet but not that high; I will make sure that I will recover my losses. Yes, you most not catch our losses in gamble because of the possibility of getting back your more is dependent on the odds of which game do you play, skilled that you have, especially if you are lucky and vice versa. But in this scenario, I much prefer to gamble all the remaining money because, in the very first place, I lose almost 50% of my bitcoins value, even I'm just holding or doing nothing. But in gambling, I'm sure that I can fight for my money because I will choose the game that I'm sure that I can increase my money.

[Saisher]

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.

Provided that the amount of Bitcoin is still the same, you should not gamble it, that's not the best way to cut loss, if you are in bad luck you eventually lose everything and you will feel really bad once you find out that Bitcoin reach another all-time high much higher than the price you bought or even double of that price, the thing to do is to extend your patience, this is the struggle that you have to work on.

[robelneo]

In such circumstances John only has 2 choices. First he has lost the value of Bitcoin and holding must also require a long time to restore its value. And the second way is betting, betting there are also two choices. In order to reduce the loss at the beginning or bet and eventually lose it all. So betting in this case the risk is very high, even losing all the bitcoin you bought at $18k

He is very impatient and can't wait for the next all-time high to gamble your Bitcoin, it's double jeopardy if he loses all his Bitcoin, he should just extend his patience to the fullest, he can lend his Bitcoin, other people are now selling everything they have I know some people, to buy Bitcoin because of the ETF approval and the next halving, so stuff yourselves with good news and hope.

[harizen]

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

Still @ 1:1.

No difference at all whatever the USD value of it and he will play on a crypto gambling site. John will gamble his bitcoin at the same quantity when he bought it.

Honestly, it's way wiser for me to gamble during a bear market where coins are fairly cheap, only if I will start at the scratch meaning from my fiat to bitcoin. Of course, this is not applicable to those coins who bought at a higher price, although there is no difference at all using those in gambling, at least for me. John on that case should extend his patience no matter what.

He will just lose if a) he loses all the BTC in gambling, obviously b) he sold it for a lower price.