BTC price VS gambling

[tippytoes]

But that is not the only function of money, money has another function and that is to be a store of value, look at gold, thousands of years ago you could by a lot of products with it and now you can do the same, this is a great store of value, bitcoin needs to perform this function as well and despite its volatility it seems it is on its way to achieve this, so while it is completely fine to spend bitcoin as that is one of its functions holding your bitcoin does not go against this as it is just another of the functions that money needs to serve.

Yes, I agree, but here we are talking about bitcoin's use for gambling, which is, in my opinion, one of bitcoin's first applications. And a very significant one in my opinion.
The first crypto casinos appeared shortly after the first faucets, back when bitcoin barely had any value.

Yes, that's true. I remember primedice as first gambling site that I got acquainted before. Before all these blockchain projects, there were few gambling sites that were already in existence, which were the first bitcoin users in their system. And throughout the years, the purpose evolves into other businesses.
And now, because of its current value, most people prefer to hold it rather than spend it to non-essential things.

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[ipanks]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

Actually, we already did that in trading but we do not realize it. When we analyze the market and do not know where the price will go, we only give a random price that bitcoin will reach, which is gambling. But we did not think that is gambling because we will say that is my prediction for the bitcoin price.

It will be a gambler's choice whether they want to use bitcoin or altcoin. If they use bitcoin to gamble, they will still use it whenever the bitcoin price is high.

[freedomgo]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

Actually, we already did that in trading but we do not realize it. When we analyze the market and do not know where the price will go, we only give a random price that bitcoin will reach, which is gambling. But we did not think that is gambling because we will say that is my prediction for the bitcoin price.

It will be a gambler's choice whether they want to use bitcoin or altcoin. If they use bitcoin to gamble, they will still use it whenever the bitcoin price is high.

Well, we should not be surprised by that as we are gambling with bitcoin, we have to get used to its high volatility. We don't need to become a good trader in order to understand it, it's very much basic, you make some, you lose some, that's like gambling also, you win or lose. For sure if we ask gamblers, they would not say they have a problem with volatility, their problem is the high fees when the market is congested.

[mv1986]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

[Russlenat]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

Then don't think of the price movement, just think of the fees and if it still bothers, you, think of converting your bitcoin to altcoins to start gambling. We are making this gambling thread a trading thread, and in gamblers perspective it's not right because instead of strategizing to win, we have not become a trader concern on the chart for the next bitcoin movement.

[DoublerHunter]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

Then don't think of the price movement, just think of the fees and if it still bothers, you, think of converting your bitcoin to altcoins to start gambling. We are making this gambling thread a trading thread, and in gamblers perspective it's not right because instead of strategizing to win, we have not become a trader concern on the chart for the next bitcoin movement.

^ I got your point here and that is right, does not matter about the price because you are using BTC or other cryptos just because it is convenient using them in gambling. We are here to gamble not a trader, so if you don't want a very volatile currency then don't use cryptocurrency but instead fiat because the price will not pump or dump since it is a stable currency. The problem of the fiat upon using the gambling is possible your identity becomes expose because you can't send fiat without a bank.

[dunfida]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

Then don't think of the price movement, just think of the fees and if it still bothers, you, think of converting your bitcoin to altcoins to start gambling. We are making this gambling thread a trading thread, and in gamblers perspective it's not right because instead of strategizing to win, we have not become a trader concern on the chart for the next bitcoin movement.

You cant really say that they wont really be some mentioning about being worried on the price movement but its true on what you do say that when you do gamble then you wont really matter much
on what would be the price or on what would be the movement since this is a pretty basic thing here on the market and since you are looking for some leisure time then you wont care too much
since the thing you do have in mind now is to gamble.You are aware that you would lost up those coins and in terms fees then you wouldnt care most of the time.
Investment and gambling should be separated because there should really be allocations when it comes to that.

[boyptc]

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

You just can't compare trading and gambling.

If you think that you're good with leveraging it instead of gambling it, then that's what you should do. But if the other folks chooses to gamble with their money, that's how it goes.

[barota]

sometimes when bitcoin crash i said if i sold , i think the trade for short term have lot of risk too for the gambling the risk  existing always in my opinion buying bitcoin whatever the movement of prices is better than gambling the problem of prices bitcoin is the long time for prices remain compared with prices of bought in the case of bitcoin crash if prices pump the same problem for traders of short term the chance have a big role the good strategie is buying bitcoin when pricez cheap then hold for long term generally the trade buying and holding bitcoin for long term is the good solution for making money

[stadus]

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

You just can't compare trading and gambling.

If you think that you're good with leveraging it instead of gambling it, then that's what you should do. But if the other folks chooses to gamble with their money, that's how it goes.

That's right, trading and gambling si way different, in trading, you focus on the market while in gambling you focus on the game you will play. Also, in trading there's no house edge, while in gambling there is in most games, so you can't really be successful doing trading and gambling at the same time as you need to focus only on one.

[mindrust]

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

You just can't compare trading and gambling.

If you think that you're good with leveraging it instead of gambling it, then that's what you should do. But if the other folks chooses to gamble with their money, that's how it goes.

I think there are many similarities between gambling and trading.

How do you know that you are always making the right trade? You can't. Same goes with gambling. (sports betting) No matter how much you study the teams, you lose some times (or win sometimes).

Gambling and trading is very alike imo.

[boyptc]

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

You just can't compare trading and gambling.

If you think that you're good with leveraging it instead of gambling it, then that's what you should do. But if the other folks chooses to gamble with their money, that's how it goes.

I think there are many similarities between gambling and trading.

How do you know that you are always making the right trade? You can't. Same goes with gambling. (sports betting) No matter how much you study the teams, you lose some times (or win sometimes).

Gambling and trading is very alike imo.

It is alike in many terms but it's totally different from what both of it really are. And in whichever you're good with any of those, you should stick to it.

That's right, trading and gambling si way different, in trading, you focus on the market while in gambling you focus on the game you will play. Also, in trading there's no house edge, while in gambling there is in most games, so you can't really be successful doing trading and gambling at the same time as you need to focus only on one.

There are differences of it and similarities that we have division towards having an opinion about it. While there's house edge for a casino, there's the fee that we pay in exchanges when we're trading.

And that's why we cannot just compare both of it IMO. Quite confusing, no? 

[Fatunad]

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

You just can't compare trading and gambling.

If you think that you're good with leveraging it instead of gambling it, then that's what you should do. But if the other folks chooses to gamble with their money, that's how it goes.

I think there are many similarities between gambling and trading.

How do you know that you are always making the right trade? You can't. Same goes with gambling. (sports betting) No matter how much you study the teams, you lose some times (or win sometimes).

Gambling and trading is very alike imo.

But you should think that gambling does have different risk level based of the games you are dealing neither a luck based or strategic based and since you do talk about sports betting which does really require some analysis and its true that no matter how good your analysis is, it would be still prone into some such changes of outcome and thats one of the similarity but most of the time trading and gambling shouldnt really be coincide or should be compared in terms of risk and long term possible profits because entertainment thing shouldnt be mixed out with investment.Its a different story.
If you are aiming on accumulating bitcoin then you wont really be wasting up your precious coins but if you do intend to make use of those or allocate a small portion then its your choice.

[Fredomago]

That's right, trading and gambling si way different, in trading, you focus on the market while in gambling you focus on the game you will play.

yeah right, both have their own identities and level of risk. You can play with your luck though if you understand both risk behind, though for sure people have different opinion about this matter and we can't generalized everything.

Also, in trading there's no house edge, while in gambling there is in most games, so you can't really be successful doing trading and gambling at the same time as you need to focus only on one.

Better to choose your priorities and focus yourself, chances of succeeding in whatever platform/venue you choose

if you dedicate your time there's much higher opportunities that's await you in the long run.

[yazher]

sometimes when bitcoin crash i said if i sold , i think the trade for short term have lot of risk too for the gambling the risk  existing always in my opinion buying bitcoin whatever the movement of prices is better than gambling the problem of prices bitcoin is the long time for prices remain compared with prices of bought in the case of bitcoin crash if prices pump the same problem for traders of short term the chance have a big role the good strategie is buying bitcoin when pricez cheap then hold for long term generally the trade buying and holding bitcoin for long term is the good solution for making money

Holding bitcoin long term is a good idea for making money, but in times of falling bitcoin prices we can do other things with our money too. If we start gambling with bitcoins and make a decent profit than we can offset any loss we get from the fall in bitcoin prices. When we have rising bitcoin prices I usually gamble with my Fiat money and only use Bitcoins for gambling when we have falling prices.

I guess holding BTC is the safe way then or if a person wanted to give it a try to get some opportunity on holding it until it reaches the desirable price to sold it, there's no gamble with if he sticks to the rules which invest only what you can afford to lose. However, more likely people forget all of that and jump to conclusions that he might probably get huge rewards if he put huge money in it. Therefore, this is called a gamble in its true sense but has some high returns than the traditional one.

[mv1986]

But what price movement would you expect next? It is almost impossible to tell.

Even if you were able to guess the price movement relatively well, you'd be better in opening a leveraged position just with Bitcoin instead of using it to gamble. Also, it is not like Bitcoin is losing 20% a day. If you gamble with $100 in Bitcoin, you double your Bitcoin and Bitcoin loses 10%, you are still left with your $80 in addition to your betting money. Doesn't sound too bad.

You just can't compare trading and gambling.

If you think that you're good with leveraging it instead of gambling it, then that's what you should do. But if the other folks chooses to gamble with their money, that's how it goes.

I think there are many similarities between gambling and trading.

How do you know that you are always making the right trade? You can't. Same goes with gambling. (sports betting) No matter how much you study the teams, you lose some times (or win sometimes).

Gambling and trading is very alike imo.

It is alike in many terms but it's totally different from what both of it really are. And in whichever you're good with any of those, you should stick to it.

That's right, trading and gambling si way different, in trading, you focus on the market while in gambling you focus on the game you will play. Also, in trading there's no house edge, while in gambling there is in most games, so you can't really be successful doing trading and gambling at the same time as you need to focus only on one.

There are differences of it and similarities that we have division towards having an opinion about it. While there's house edge for a casino, there's the fee that we pay in exchanges when we're trading.

And that's why we cannot just compare both of it IMO. Quite confusing, no? 

It totally depends on the input values you choose. You can absolutely make trading a gamble, a real gamble. Go pick 1000x leverage and bet on the exchange rate EUR/USD (no matter which direction you decide) and you have the perfect gamble! You could gamble on the Brexit with trading and you could gamble on the presidential elections with trading. Everything that has political relevance very often has economic relevance. That can easily transferred into impact on exchange rates, hence trading exchange rates is a gamble. I know that! I have done it!  

[ipanks]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

Actually, we already did that in trading but we do not realize it. When we analyze the market and do not know where the price will go, we only give a random price that bitcoin will reach, which is gambling. But we did not think that is gambling because we will say that is my prediction for the bitcoin price.

It will be a gambler's choice whether they want to use bitcoin or altcoin. If they use bitcoin to gamble, they will still use it whenever the bitcoin price is high.

Well, we should not be surprised by that as we are gambling with bitcoin, we have to get used to its high volatility. We don't need to become a good trader in order to understand it, it's very much basic, you make some, you lose some, that's like gambling also, you win or lose. For sure if we ask gamblers, they would not say they have a problem with volatility, their problem is the high fees when the market is congested.

When the market is congested, that will be a pain for us because we will think twice to use bitcoin to gamble. But fortunately, we have altcoin that can accommodate our needs to play gambling and keep our bitcoin for other things.

A gambler will still play gambling, and if they really like bitcoin, they will use bitcoin. Otherwise, they will take a break for a while and waiting until the fee can reduce a lot.

[Sanitough]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

Actually, we already did that in trading but we do not realize it. When we analyze the market and do not know where the price will go, we only give a random price that bitcoin will reach, which is gambling. But we did not think that is gambling because we will say that is my prediction for the bitcoin price.

It will be a gambler's choice whether they want to use bitcoin or altcoin. If they use bitcoin to gamble, they will still use it whenever the bitcoin price is high.

Well, we should not be surprised by that as we are gambling with bitcoin, we have to get used to its high volatility. We don't need to become a good trader in order to understand it, it's very much basic, you make some, you lose some, that's like gambling also, you win or lose. For sure if we ask gamblers, they would not say they have a problem with volatility, their problem is the high fees when the market is congested.

When the market is congested, that will be a pain for us because we will think twice to use bitcoin to gamble. But fortunately, we have altcoin that can accommodate our needs to play gambling and keep our bitcoin for other things.

A gambler will still play gambling, and if they really like bitcoin, they will use bitcoin. Otherwise, they will take a break for a while and waiting until the fee can reduce a lot.

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

[Xinarae*]

I agree with you that altcoin is a very good alternative gamble with bitcoin the value of altcoin is increasing a lot. In the case of bitcoin higher prices are required later but as the value of altcoins is lower the demand for investment is higher here small gamblers can start with a little the risk is less here. But before that to analyze the market well. ETH and BNB may be the best among altcoin like bitcoin their prices rise.

[ipanks]

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

If the casino does not have TRC20 or still uses ERC20 USDT, we can use the other altcoins and hopefully, Dogecoin is available on the casino. I think we can see that many casinos have that coin so we can use Dogecoin to gamble. Compare to USDT use TRC20 than Dogecoin, I prefer to use Dogecoin because the fee is not too high and the highest fee that I already pay is about 15 Dogecoin when the price is low.