Does Bitcoin price rise affect your gameplay?

[xSkylarx]

I believe that it may become a hurdle for those gamblers who believe that losing their BTC is costing them huge amounts in fiat and it's true also to some extent, because as BTC is evaluated through fiat, then the gamblers worrying about losing more USD even via losing less amount of BTC when the price rises is obligatory. I don't think it'll make any difference to me though because I love gambling more whenever price rises as I believe in my luck and when I win, I win big. I gamble for fun, so it does not matter whether the price increases too much (except if it goes 10x and I see my bankroll to be worth something I may not be able to afford losing).

Doesn't it hurt if you lose in gambling with the btc at a high price? Do you still enjoy doing it? I gamble for fun also but with the current price, losing in gambling for me is just a waste. Imagine if you hadn't lose anything then btc increases more so the USD value of your money increased too.

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[michellee]

I believe that it may become a hurdle for those gamblers who believe that losing their BTC is costing them huge amounts in fiat and it's true also to some extent, because as BTC is evaluated through fiat, then the gamblers worrying about losing more USD even via losing less amount of BTC when the price rises is obligatory. I don't think it'll make any difference to me though because I love gambling more whenever price rises as I believe in my luck and when I win, I win big. I gamble for fun, so it does not matter whether the price increases too much (except if it goes 10x and I see my bankroll to be worth something I may not be able to afford losing).

Doesn't it hurt if you lose in gambling with the btc at a high price? Do you still enjoy doing it? I gamble for fun also but with the current price, losing in gambling for me is just a waste. Imagine if you hadn't lose anything then btc increases more so the USD value of your money increased too.

It is hurt to lose in gambling, especially if I lose bitcoin, and bitcoin at that current moment is at a high price. Maybe I will feel sad after the loss and maybe I will think that if I use altcoin to gamble, the feeling sad will not feel. If we gamble for fun, we can use the other option of the money form, so we don't need to feel sad if we lose in gambling.

If we still hold bitcoin and not use bitcoin for a gamble and bitcoin price increases, we can sell that bitcoin at a high price and make a big profit. But as we know, each person will have different calculations or analyses to use bitcoin or change to the altcoin.

[Shasha80]

Thank you for creating a topic like this, because it is interesting to have a discussion about the increase in Bitcoin which is likely
to have an effect on gamblers, especially those accustomed to betting using Bitcoin. I who always play gambling using Bitcoin are
affected, especially if I'm lose. The amount of loss I suffered was greater, but because I was comfortable playing gambling using
Bitcoin, I didn't even think about using altcoins. So my gameplay was changed by reducing the amount of stakes I usually use
and for sports betting I played single bets right now.

[Bitinity]

It is rare for me to gamble with bitcoin as most of the time I use altcoins due to some reasons. Other than that, I have fixed fund for my gambling activity and I set the fund based on my own local currency. Lets say my budget for a week is $100 and I have to gamble with bitcoin, means that no matter how much is the bitcoin price, it wont affect my budget. The number may different in bitcoin but value stays the same in fiat currency. My betting limit per single bet is also limited to a specific value e.g. $2 max per bet. This makes me able to control my budget/money easier than when I have to set my budget in bitcoin as the value is volatile.

[FIFA worldcup]

Thank you for creating a topic like this, because it is interesting to have a discussion about the increase in Bitcoin which is likely
to have an effect on gamblers, especially those accustomed to betting using Bitcoin. I who always play gambling using Bitcoin are
affected, especially if I'm lose. The amount of loss I suffered was greater, but because I was comfortable playing gambling using
Bitcoin, I didn't even think about using altcoins. So my gameplay was changed by reducing the amount of stakes I usually use
and for sports betting I played single bets right now.

Whenever there is an increase in bitcoin prices, i prefer to bet in other altcoins and not in bitcoin. Although theoretically, we are betting in Satoshis so the usd value should not matter much, but still i feel uncomfortable betting with bitcoin and calculating the price of bet in terms on usd at the back of my mind.

[iv4n]

It is rare for me to gamble with bitcoin as most of the time I use altcoins due to some reasons. Other than that, I have fixed fund for my gambling activity and I set the fund based on my own local currency. Lets say my budget for a week is $100 and I have to gamble with bitcoin, means that no matter how much is the bitcoin price, it wont affect my budget. The number may different in bitcoin but value stays the same in fiat currency. My betting limit per single bet is also limited to a specific value e.g. $2 max per bet. This makes me able to control my budget/money easier than when I have to set my budget in bitcoin as the value is volatile.

This would be a good example of bankroll management! Never risk more than you can afford to lose! There's a similar topic here in the gambling discussion section: If btc > $150k, will you still gamble it? -https://bitcointalk.org/index.php?topic=5285349.msg55489224#msg55489224
Basically it's what I said there, before when Bitcoin was $150 (at least in my case, when I started) it was normal for me to gamble with whole bitcoin and more, now I rarely deposit more than 0.01-0.02 (usually it's less, this is some maximum for me), and probably in future we will be satisfied with a few mBTC-s deposited when btc price rise insanely!
And you are right about using alts for gambling, I like to gamble with some alts too, and I love it. Some alts have crazy fast transactions and very low fee!

[rodskee]

My biggest concern is the fee and the transaction confirmation, it will have an effect on how I use Bitcoin to bet, when there are other options available I will use it, Ripple, Tron, Doge Ethereum, Litecoin are great substitute because of the fee, there's a huge difference between 2 cents and $5 worth of transaction and instant and 5 hours of wait in confirmation.

Still, when bitcoin prices go up, alt coins do as well. I think the author of the thread meant how the value of a coin changes our perspective towards gambling it. For me, prices heavily influence me because I can gamble away fractions of ripples but not fractions of btc!

Yeah because that is a Domino Effect,once Bitcoin price Grow Up expected that Altcoins will come along so this mean the totality of our gambling activities.

I guess once the prices moves up?my most concern is my Holdings and i will choose to Play using Fiat for a while since the Bull is still active and it will hurt seeing our coins losing in Gambling when the value is irresistible .

[South Park]

Indirectly yes but many gambling platforms use stable coins for playing games, the fiat value is better and more convenient. Withdrawal fees are higher than normal transaction commissions on casinos, so I wait for the slow network fee option if available. If the casino has the alternative cryptocurrencies for withdrawing balance I avoid paying a high withdrawal fee because paying this fee can hurt my monthly gambling profit at the end. Roobet charges a $6-$8 withdrawal fee per BTC transaction, so I will wait another day for taking my winnings.

The withdrawal fee is probably the biggest negative effect that I get when I gamble in a casino while the price is going up, after all we know the network gets really congested when the price is rising and you are charged a higher fee to get your money out of the casino, when that happens I make sure to only withdraw when the fees on the network are low or I also can take the measure of only depositing in the casino the money that I am completely sure I am fine betting during that week.

[xSkylarx]

It is rare for me to gamble with bitcoin as most of the time I use altcoins due to some reasons. Other than that, I have fixed fund for my gambling activity and I set the fund based on my own local currency. Lets say my budget for a week is $100 and I have to gamble with bitcoin, means that no matter how much is the bitcoin price, it wont affect my budget. The number may different in bitcoin but value stays the same in fiat currency. My betting limit per single bet is also limited to a specific value e.g. $2 max per bet. This makes me able to control my budget/money easier than when I have to set my budget in bitcoin as the value is volatile.

This is a good tip for someone that always gamble. Most people are opposite, they set their minimum bet in btc value which makes them lose more in the current btc price. They say that their bankroll got smaller because of the price surge but they don't realize it's their bet is the problem. You still win the same amount in USD value if you manage your bet amount properly.

[fishbonez11]

I don't really think it affects on how I play in gambling casinos and sports betting my bet is still the same as before I think that's the great thing in playing with cryptocurrency I just consider them as playing token and doesn't care about its price so I think no matter what price it is low or high as long as there's no change in the minimum or maximum bet on a casino or sports betting site it wouldn't affect my game play.

Agree with this, when betting you see bitcoin as it is not as a dollar. The change in price will only matter when you have to convert to convert your bitcoin to fiat. If you are more concern with the value, its better if you will allocate an amount you'll spent for the game, this will cause you not to think more of the bitcoin price since you set in mind that this is the particular amount you'll only use. But actually, the in price doesnt affect so much.

[qwertyup23]

Nope.

I mainly gamble using my fiat and other online currencies. There were times that I used my bitcoins as a fund for online gambling but nowhere did I exceed spending more that what I have initially planned for. Bitcoins are too precious for me to just gamble them away and I would opt to invest them than to use them for gambling. Being a currency that is scarce and difficult to acquire, the potential of investment is just too difficult for me to let go.

I don't really think it affects on how I play in gambling casinos and sports betting my bet is still the same as before I think that's the great thing in playing with cryptocurrency I just consider them as playing token and doesn't care about its price so I think no matter what price it is low or high as long as there's no change in the minimum or maximum bet on a casino or sports betting site it wouldn't affect my game play.

Agree with this, when betting you see bitcoin as it is not as a dollar. The change in price will only matter when you have to convert to convert your bitcoin to fiat. If you are more concern with the value, its better if you will allocate an amount you'll spent for the game, this will cause you not to think more of the bitcoin price since you set in mind that this is the particular amount you'll only use. But actually, the in price doesnt affect so much.

The problem that I had when I tried gambling with bitcoins was the withdrawal fee from these gambling sites. They were just too expensive and significantly high that heavily discouraged me from gambling away my bitcoins. That is why I opted to choose fiat or altcoins to gamble instead of bitcoin due to the high transaction fees that occurred.

[Genemind]

It doesn't, as Bitcoin price rises players just need to adjust the amount they bet, I usually compute my bet in the dollar than just the amount of crypto I bet, just to be aware of the risk I am taking each bet. There are times I switch to other alts like XRP or ETH to save withdrawal and deposit fees of the bitcoin price is too high, to save transaction fees.

[Lorence.xD]

It doesn't, as Bitcoin price rises players just need to adjust the amount they bet, I usually compute my bet in the dollar than just the amount of crypto I bet, just to be aware of the risk I am taking each bet. There are times I switch to other alts like XRP or ETH to save withdrawal and deposit fees of the bitcoin price is too high, to save transaction fees.

If you do not mind the money that you are spending when you are gambling then it will not affect you at all, 1 bitcoin is still 1 bitcoin after all. Now, if you are conscious at what you are spending, especially when you are frugal then psychologically it hinders your mindset during your gameplay, there will be that voice at the back of your mind that will voice the regret when you lock in that bet. Regret is a big factor in all of this and if you know for yourself that you feel intense emotion because of regret then the price of bitcoin will affect your game in a subconscious level.

[ice098]

It is rare for me to gamble with bitcoin as most of the time I use altcoins due to some reasons. Other than that, I have fixed fund for my gambling activity and I set the fund based on my own local currency. Lets say my budget for a week is $100 and I have to gamble with bitcoin, means that no matter how much is the bitcoin price, it wont affect my budget. The number may different in bitcoin but value stays the same in fiat currency. My betting limit per single bet is also limited to a specific value e.g. $2 max per bet. This makes me able to control my budget/money easier than when I have to set my budget in bitcoin as the value is volatile.

I'm not a full time gambler, i used to gamble once in a month but if i were going to gamble and using bitcoin as a bet i can't do it. I treasure bitcoin and wanted to keep it for a long term investment and i believe that bitcoin were worth to keep on as a long term investment. The volatility of bitcoin makes me aware of the things that i should priority first when it comes to bitcoin. And as i can observe that the price movement of bitcoin does affects the gameplay.

[matchi2011]

It doesn't, as Bitcoin price rises players just need to adjust the amount they bet, I usually compute my bet in the dollar than just the amount of crypto I bet, just to be aware of the risk I am taking each bet. There are times I switch to other alts like XRP or ETH to save withdrawal and deposit fees of the bitcoin price is too high, to save transaction fees.

If you do not mind the money that you are spending when you are gambling then it will not affect you at all, 1 bitcoin is still 1 bitcoin after all. Now, if you are conscious at what you are spending, especially when you are frugal then psychologically it hinders your mindset during your gameplay, there will be that voice at the back of your mind that will voice the regret when you lock in that bet. Regret is a big factor in all of this and if you know for yourself that you feel intense emotion because of regret then the price of bitcoin will affect your game in a subconscious level.

That's the principle. If you don't care about money then there's nothing to affect your gambling activities, you'll continue to play even bitcoin jumped high and have a huge value.

For some it's not healthy but for such a gamblers who really not looking from this, his action will always be on his betting side, gambling will continue whatever it takes, either it's already vice or he's aiming for entertainment.

[ethereumhunter]

It is rare for me to gamble with bitcoin as most of the time I use altcoins due to some reasons. Other than that, I have fixed fund for my gambling activity and I set the fund based on my own local currency. Lets say my budget for a week is $100 and I have to gamble with bitcoin, means that no matter how much is the bitcoin price, it wont affect my budget. The number may different in bitcoin but value stays the same in fiat currency. My betting limit per single bet is also limited to a specific value e.g. $2 max per bet. This makes me able to control my budget/money easier than when I have to set my budget in bitcoin as the value is volatile.

I'm not a full time gambler, i used to gamble once in a month but if i were going to gamble and using bitcoin as a bet i can't do it. I treasure bitcoin and wanted to keep it for a long term investment and i believe that bitcoin were worth to keep on as a long term investment. The volatility of bitcoin makes me aware of the things that i should priority first when it comes to bitcoin. And as i can observe that the price movement of bitcoin does affects the gameplay.

I give you a salute that you gamble once in a month because not many people can gamble just once in a month. It seems you can consider that bitcoin is worth keeping and not using for anything except as an investment. If we really care about bitcoin and want to use bitcoin as an investment, we can keep it for some time and only sell if we have a high target price. But many people use the other coins when they see bitcoin price rise higher because that can affect their gameplay.

[romero121]

Whether the price is low or it is in the peak, people continue to gamble once they tasted it. The growth won't make any cause with the gambling sites, because unlike the betting value or the cryptocurrency the revenue is out of the house edge. Only thing that varies when there is growth and decline in the price of bitcoin is the betting value. When the price keeps increasing people prefer spending in USD and when it is low the same is spend in terms of bitcoin or other cryptocurrency.

[Assface16678]

It is rare for me to gamble with bitcoin as most of the time I use altcoins due to some reasons. Other than that, I have fixed fund for my gambling activity and I set the fund based on my own local currency. Lets say my budget for a week is $100 and I have to gamble with bitcoin, means that no matter how much is the bitcoin price, it wont affect my budget. The number may different in bitcoin but value stays the same in fiat currency. My betting limit per single bet is also limited to a specific value e.g. $2 max per bet. This makes me able to control my budget/money easier than when I have to set my budget in bitcoin as the value is volatile.

I'm not a full time gambler, i used to gamble once in a month but if i were going to gamble and using bitcoin as a bet i can't do it. I treasure bitcoin and wanted to keep it for a long term investment and i believe that bitcoin were worth to keep on as a long term investment. The volatility of bitcoin makes me aware of the things that i should priority first when it comes to bitcoin. And as i can observe that the price movement of bitcoin does affects the gameplay.

I give you a salute that you gamble once in a month because not many people can gamble just once in a month. It seems you can consider that bitcoin is worth keeping and not using for anything except as an investment. If we really care about bitcoin and want to use bitcoin as an investment, we can keep it for some time and only sell if we have a high target price. But many people use the other coins when they see bitcoin price rise higher because that can affect their gameplay.

It is not actually the gamrplay but rather, the coin to be used in playing. Gamblers are conscious of the things they do. In gambling, losing is more certain and using Bitcoin, if it is having a good time in the market, will more likely contribute to their losses not literally. It is just that they would miss earning profit from holding such coin or investment perhaps. In this case, using other mode of payment will be more advisable but if it does not concern you, there's nothing wrong with using it. Just keep in mind to make actions which will more benefit you.

[ethereumhunter]

It is not actually the gamrplay but rather, the coin to be used in playing. Gamblers are conscious of the things they do. In gambling, losing is more certain and using Bitcoin, if it is having a good time in the market, will more likely contribute to their losses not literally. It is just that they would miss earning profit from holding such coin or investment perhaps. In this case, using other mode of payment will be more advisable but if it does not concern you, there's nothing wrong with using it. Just keep in mind to make actions which will more benefit you.

I guess you are right on this point. Many crypto gamblers use bitcoin to playing gambling, but many also use altcoin to gamble. If they use bitcoin to gamble, the chance to lose will be the same if they use altcoin. But in this matter, if they used altcoin and still hold their bitcoin, they will still benefit from bitcoin because if bitcoin price can increase and sell it at a high price, they will make a profit, and their losses in the gambling will be covers. But we will select the coin that is fit for us, whether it is bitcoin or altcoin.

[MI6]

At some point yes it affect my gameplay especially my bankroll due to the price rise of the Bitcoin the transaction was also increased and in other words my bankroll was also reduced due to withdrawal and deposit of my Bitcoin to the gambling website but in terms of gameplay I still play the same way and there's no huge changes in my game style.