BTC price VS gambling

[justdimin]

Two weeks back lost an ethereum when the price was close around $2500. Now I'm feeling heartbroken, because if I've kept hold of the ethereum I would've got a bigger earning out of it. The price fluctuation always affects the gamblers, most of the time in the negative way. The better choice is to focus on trading than gambling, because gambling is for the lucky ones.

And over the long term there is not such a thing as luck, you are going to get results very close to the expected probabilities, it is always difficult to lose money we all know that but maybe it is a good idea to take a break from gambling as it seems you are too affected by the situation, just remember that if you do not know what you are doing trading has way worst odds than gambling and you could lose it all without getting any fun in the process which is even worse than what happens in gambling.

People really do not know what you just said. I have seen people who believes that there are strategies where they can win in the long term. There are people like "but if I stop at certain profit and leave, and come back another time and do it again I can keep winning for a long time" and they believe if they just cap their winnings at $100 per day, they could actually get rich doing that. I do not understand why people are like that, what makes them believe that or how they think it is sustainable but they are out there.

I have constantly talked about how it is impossible for someone to keep winning, the house edge will make sure that in the long run you will always lose, you could go to any casino, put all in, one shot, win and leave that is the only possibility of winning in a casino, if you stay and keep gambling it will always result with you losing.

[dimonstration]

I have constantly talked about how it is impossible for someone to keep winning, the house edge will make sure that in the long run you will always lose, you could go to any casino, put all in, one shot, win and leave that is the only possibility of winning in a casino, if you stay and keep gambling it will always result with you losing.

This is the thrill that gamblers get whenever they win, becoming greedy comes in as we experience winning. If onlly all gamblers will know when to stop there will be no addiction that can harm their lives. Even btc prices goes down or up as long there is gambler whose willing to risk it and believes they can over the house then the Casino will surely do anything even there are high fees as they believed gamnlers were greedy enough to still try and use it. Everything should have limitations it will depend on gamblers perspective in life that can help them win over gambling.

[boyptc]

Yup.

And whatever the fees still depending on the person that will send it and he's the one to adjust it. If he likes to pay with the recommended fee then he has to pay it without hesitation.

But if he's hesitating and he seems to find it unfair and quite high, there's always the adjustment that he can do freely.

And broadcasting the transaction twice just in case it gets stuck because you selected too low a gas fee is also easy. Just pick a new gas fee and go for it again. There's you can do wrong, bullet proof wallet.

Yes, there is a solution if you ever get stuck.

But before thinking about that just be responsible in sending with the acceptable fee for the miners and network so that you won't face this problem for newbies.

[Stedsm]

Yup.

And whatever the fees still depending on the person that will send it and he's the one to adjust it. If he likes to pay with the recommended fee then he has to pay it without hesitation.

But if he's hesitating and he seems to find it unfair and quite high, there's always the adjustment that he can do freely.

I'm not advertising it but nowadays I'm using FTX to send BTC to a gambling site or even if I want to pay BTC to someone. That's because the exchange charges 0 fee for 1 withdrawal as it's free per day (1 free withdrawal per day) and I get my coins immediately on any of my favorite gambling websites. I take my BTC mostly to sportsbet (honestly) because whenever I withdraw my BTC from there, I'm not charged a single cent and the withdrawals are processed for free there.

[Lanatsa]

Yup.

And whatever the fees still depending on the person that will send it and he's the one to adjust it. If he likes to pay with the recommended fee then he has to pay it without hesitation.

But if he's hesitating and he seems to find it unfair and quite high, there's always the adjustment that he can do freely.

I'm not advertising it but nowadays I'm using FTX to send BTC to a gambling site or even if I want to pay BTC to someone. That's because the exchange charges 0 fee for 1 withdrawal as it's free per day (1 free withdrawal per day) and I get my coins immediately on any of my favorite gambling websites. I take my BTC mostly to sportsbet (honestly) because whenever I withdraw my BTC from there, I'm not charged a single cent and the withdrawals are processed for free there.

Would you mind on sharing out on what FTX you've been talking on? Sorry as im not aware about it but normally exchange does really have free transfers in between accounts but for other external
transfer then I cant see anyone who do make it for free on every single day which I can say for it to be generous.

We are normally be mindful when it comes to fees when making up transfers and also with the current price which is really valuable for someone to waste it up on gambling.

Well, this is just normal because there are people do make use whatever on what they do like or been preferred.

[Stedsm]

Would you mind on sharing out on what FTX you've been talking on? Sorry as im not aware about it but normally exchange does really have free transfers in between accounts but for other external
transfer then I cant see anyone who do make it for free on every single day which I can say for it to be generous.

I won't say they are generous, but competitive.
https://help.ftx.com/hc/en-us/articles/360034865571-Blockchain-Deposits-and-Withdrawals

"Small BTC withdrawal fees: BTC withdrawals > 0.01 BTC are free. BTC withdrawals < 0.01 BTC are charged withdrawal fees after your first free one per day." - You can find it on that page.

Well, this is just normal because there are people do make use whatever on what they do like or been preferred.

https://withdrawalfees.com/coins/bitcoin
Do you know about the above mentioned website?
You must visit it if you need more alternatives, if BTC is all you need to gamble and need it after paying cheapest fees.

[KTChampions]

I have constantly talked about how it is impossible for someone to keep winning, the house edge will make sure that in the long run you will always lose, you could go to any casino, put all in, one shot, win and leave that is the only possibility of winning in a casino, if you stay and keep gambling it will always result with you losing.

This is the thrill that gamblers get whenever they win, becoming greedy comes in as we experience winning. If onlly all gamblers will know when to stop there will be no addiction that can harm their lives. Even btc prices goes down or up as long there is gambler whose willing to risk it and believes they can over the house then the Casino will surely do anything even there are high fees as they believed gamnlers were greedy enough to still try and use it. Everything should have limitations it will depend on gamblers perspective in life that can help them win over gambling.

Even from the outside, it is often difficult to understand the motive of a person's actions and objectively evaluate it. If a person spends his last money on casingo, is he healthy? Many will say no. What if he spends his last money on tuning a car or searching for lost treasures? If his actions ultimately bring success, then no one will say that he was wrong.

[Viscore]

I have constantly talked about how it is impossible for someone to keep winning, the house edge will make sure that in the long run you will always lose, you could go to any casino, put all in, one shot, win and leave that is the only possibility of winning in a casino, if you stay and keep gambling it will always result with you losing.

This is the thrill that gamblers get whenever they win, becoming greedy comes in as we experience winning. If onlly all gamblers will know when to stop there will be no addiction that can harm their lives. Even btc prices goes down or up as long there is gambler whose willing to risk it and believes they can over the house then the Casino will surely do anything even there are high fees as they believed gamnlers were greedy enough to still try and use it. Everything should have limitations it will depend on gamblers perspective in life that can help them win over gambling.

Even from the outside, it is often difficult to understand the motive of a person's actions and objectively evaluate it. If a person spends his last money on casingo, is he healthy? Many will say no. What if he spends his last money on tuning a car or searching for lost treasures? If his actions ultimately bring success, then no one will say that he was wrong.

That's correct, people will only say that gambling is bad for us if we are losing money from it as they know that most gamblers are losing money. If one will be winning in gambling, then he is exceptional and he should continue doing it as that would bring ultimate financial success in his life.

They say that casinos always win, well, that is true but there are few gamblers who are also successful, we just hope we are one of the successful gamblers, but we cannot achieve that if we will not try.

[South Park]

And over the long term there is not such a thing as luck, you are going to get results very close to the expected probabilities, it is always difficult to lose money we all know that but maybe it is a good idea to take a break from gambling as it seems you are too affected by the situation, just remember that if you do not know what you are doing trading has way worst odds than gambling and you could lose it all without getting any fun in the process which is even worse than what happens in gambling.

People really do not know what you just said. I have seen people who believes that there are strategies where they can win in the long term. There are people like "but if I stop at certain profit and leave, and come back another time and do it again I can keep winning for a long time" and they believe if they just cap their winnings at $100 per day, they could actually get rich doing that. I do not understand why people are like that, what makes them believe that or how they think it is sustainable but they are out there.

I have constantly talked about how it is impossible for someone to keep winning, the house edge will make sure that in the long run you will always lose, you could go to any casino, put all in, one shot, win and leave that is the only possibility of winning in a casino, if you stay and keep gambling it will always result with you losing.

To me it is just ignorance and a desire for this to be true, gambling is an activity that is really fun, so what could be better than to have a lot of fun and make some easy money? So people are always thinking about how to beat gambling games and even if a few have found a way to beat some of the casino games, mostly on physical casinos, then they think they can do the same but we know the chances of that are incredibly low and it will be way better for them to dedicate their time and thoughts to something that actually had a chance of becoming true.

[Lakai01]

-snip-
They say that casinos always win, well, that is true but there are few gamblers who are also successful, we just hope we are one of the successful gamblers, but we cannot achieve that if we will not try.

At the end of the day, it's always about one thing: pure statistics.
You said it right, the casino always wins, the House Edge makes sure of that. Sure, you can get lucky on one day and win the prize of a lifetime (the Bustadice thread recently discussed a win of a huge amount of BTC), but the probability of that is very low. In addition, the longer you play, the closer the outcome of your games will be to the House Edge, so you will "lose".

What helps against this? See gambling for what it is: a great way to entertain yourself and at the same time have a chance to win something ... but don't chase luck, it won't end well.

[Botnake]

What helps against this? See gambling for what it is: a great way to entertain yourself and at the same time have a chance to win something ... but don't chase luck, it won't end well.

Exactly, in gambling the approach should be slow and accurate, you can't be too emotional as you will likely end up losing, and much worse if you will lose more than you are supposed to because you become greedy and you don't notice anymore that you are taking a high risk without analyzing it.

The house edge is the thing that makes a casino profitable, but it's not said that they always win and we don't have a chance to win.
We, gamblers lose in the long run while they enjoy the opposite.

[paxmao]

Good question. I think that most players will mostly think in fiat terms, so a decrease in bitcoin price would mean that they will play the same fiat, but more bitcoin. Only those that are quite into bitcoin and only fund their accounts with crypto (do not forget that Eth is also quite down), will keep their level of play. If this stays long term however, there may be a tendency of people playing more which is a known effect of crisis.

Perhaps the key is to know how long the bear run will go and how used to it people may get.

[batang_bitcoin]

Good question. I think that most players will mostly think in fiat terms, so a decrease in bitcoin price would mean that they will play the same fiat, but more bitcoin. Only those that are quite into bitcoin and only fund their accounts with crypto (do not forget that Eth is also quite down), will keep their level of play. If this stays long term however, there may be a tendency of people playing more which is a known effect of crisis.

Perhaps the key is to know how long the bear run will go and how used to it people may get.

It is true that there will be more bitcoin and other altcoins of the choice if we're going to have it currently. Well, for those that are hesitating to spend in gambling because they're treating it that it should go up then that might change their minds and they're probably going to be okay again gambling with those kept bitcoins that they've got or, it's a better idea if they're going to buy it using their cash and spend those bought bitcoins while keeping the rest and old holdings.

[Mahanton]

Good question. I think that most players will mostly think in fiat terms, so a decrease in bitcoin price would mean that they will play the same fiat, but more bitcoin. Only those that are quite into bitcoin and only fund their accounts with crypto (do not forget that Eth is also quite down), will keep their level of play. If this stays long term however, there may be a tendency of people playing more which is a known effect of crisis.

Perhaps the key is to know how long the bear run will go and how used to it people may get.

It is true that there will be more bitcoin and other altcoins of the choice if we're going to have it currently. Well, for those that are hesitating to spend in gambling because they're treating it that it should go up then that might change their minds and they're probably going to be okay again gambling with those kept bitcoins that they've got or, it's a better idea if they're going to buy it using their cash and spend those bought bitcoins while keeping the rest and old holdings.

Investment and gambling should really be separated because if you do intent to save up coins for the sake of profits then you shouldnt gamble in the first place.
You should save up instead because this would really leave out some regretable feeling once you had lost your coins in doing gambling.
You should separate investment and gambling and not tend to collaborate the two because this will disrupt your mind and instead of
enjoying your game you would rather be stressed on it.

[batang_bitcoin]

Good question. I think that most players will mostly think in fiat terms, so a decrease in bitcoin price would mean that they will play the same fiat, but more bitcoin. Only those that are quite into bitcoin and only fund their accounts with crypto (do not forget that Eth is also quite down), will keep their level of play. If this stays long term however, there may be a tendency of people playing more which is a known effect of crisis.

Perhaps the key is to know how long the bear run will go and how used to it people may get.

It is true that there will be more bitcoin and other altcoins of the choice if we're going to have it currently. Well, for those that are hesitating to spend in gambling because they're treating it that it should go up then that might change their minds and they're probably going to be okay again gambling with those kept bitcoins that they've got or, it's a better idea if they're going to buy it using their cash and spend those bought bitcoins while keeping the rest and old holdings.

Investment and gambling should really be separated because if you do intent to save up coins for the sake of profits then you shouldnt gamble in the first place.
You should save up instead because this would really leave out some regretable feeling once you had lost your coins in doing gambling.
You should separate investment and gambling and not tend to collaborate the two because this will disrupt your mind and instead of
enjoying your game you would rather be stressed on it.

It's about how you're managing your coins. You don't gamble if your plan is to keep and hold it. That's why if there are gamblers who would like to spend some of their cash, they'll just buy it and today's a better day because they'll get more.
The lower the price that they'll start buying, they'll get more so it's for them to distribute and divide it. There's an allocation for gambling and there's also the other for keeping.

[ChuckBuck]

Do you think this is the best time to discuss this topic? The value of BTC changes rapidly, down terribly and also recovers quickly. Does this affect your betting? A trader will usually choose safe assets to hide, but what about gamblers like you? Do you want to convert to a safer currency or continue to use BTC for betting? I'm curious to know what you guys do if the price drops drastically  

[Kelvinid]

Do you think this is the best time to discuss this topic? The value of BTC changes rapidly, down terribly and also recovers quickly. Does this affect your betting? A trader will usually choose safe assets to hide, but what about gamblers like you? Do you want to convert to a safer currency or continue to use BTC for betting? I'm curious to know what you guys do if the price drops drastically  

Just don't mind even if the price is volatile as that's the nature of bitcoin.

Think it this way, if bitcoin drop we will lose a bit, but if it will pump, we will get more profit.
In fact this year,  the market is bullish so gamblers get more benefits as they continue to gamble without minding the volatility.

[michellee]

Do you think this is the best time to discuss this topic? The value of BTC changes rapidly, down terribly and also recovers quickly. Does this affect your betting? A trader will usually choose safe assets to hide, but what about gamblers like you? Do you want to convert to a safer currency or continue to use BTC for betting? I'm curious to know what you guys do if the price drops drastically  

Even if the bitcoin price is down to $39k, it is still not better to use bitcoin to gamble because the price can increase anytime. If we still use bitcoin and somehow lose that bitcoin, we will regret it because that will mean it for us. That will happen to most gamblers who do not own many bitcoins, and I think they still save their bitcoin and try to profit in bitcoin. A gambler will not save the assets instead using the money to gamble and winning the game. But a wise gambler can use the altcoin to gamble than to use bitcoin.

[Natalim]

Even if the bitcoin price is down to $39k, it is still not better to use bitcoin to gamble because the price can increase anytime.

For me that's wrong, if you think that way, then better not gamble using bitcoin, just use stable coins so you will not worry whether the price will fall or increase. Thing is, we are gambling not investing, so the volatility of bitcoin should never affect us because if it does, it will not make us focus in our main purpose, which is gambling

[Mahdirakib]

Even if the bitcoin price is down to $39k, it is still not better to use bitcoin to gamble because the price can increase anytime.

For me that's wrong, if you think that way, then better not gamble using bitcoin, just use stable coins so you will not worry whether the price will fall or increase. Thing is, we are gambling not investing, so the volatility of bitcoin should never affect us because if it does, it will not make us focus in our main purpose, which is gambling

In that case, ‘michellee’ should avoid gambling with all other cryptocurrency except stable coins. Cause all other crypto price have dropped beside bitcoin and all of them have good possibility to increase in future. Don't gamble with the BTC what you have kept for holding. Worried! He is thinking like bitcoin holder and discussing about gambling.