Does bitcoin dump have any impact on gamblers ?

[Jody.Drummer]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

In fact, if I look at the profit side when we get multiples, we clearly get more. For example, if you bet $10 in Bitcoin and get a multiple of 100x, the number of bitcoins increases. Needless to say, traders or investors cannot return profits in short trades for now.

[wheelz1200]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

The only impact is that if you are trying to bet a particular amount of fiat value (or win a certain amount pegged to fiat) then yeah it will effect ypu because your static amount of bitcoin you can bet gets reduced down as the price drops and you have to bet more to retain the same level of fiat valued bets.  And while it's dropping people care less about losing.  When it's pumping and you lose its twice as bad so you might be more reluctant to bet.

[Lanatsa]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

The only impact is that if you are trying to bet a particular amount of fiat value (or win a certain amount pegged to fiat) then yeah it will effect ypu because your static amount of bitcoin you can bet gets reduced down as the price drops and you have to bet more to retain the same level of fiat valued bets.  And while it's dropping people care less about losing.  When it's pumping and you lose its twice as bad so you might be more reluctant to bet.

No, the amount of bitcoin would need will be more since  the value is less which is totally opposite when usd value is high then you do really get lesser coins.This is also a good idea on accumulating coins on fast pace
manner but its not recommended for it to be done via gambling.

Gamblers would deposit according into the monetary value and not into the coin value or amount.So i dont see any impacts and they would really be playing as usual
just like there's nothing happen.

On investors perspective then it would really be an other way around or impression yet they would be thinking that they are losing that much.

[sportbettor]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

I believe that the price of bitcoin affects all holders of this cryptocurrency: the lower its price, the less your assets become, regardless of whether you use it for playing in a casino or a sportsbook, or for anything else - it's just that the value of your assets also decreases in any case, if you decide to exchange it for real money in the end.

[goldkingcoiner]

I do believe that the gambling community, or rather the more emotionally fragile and easily manipulated members of the gambling community are in danger of selling on emotion than regular traders, on principle.

When you are already shaken up from losing in gambling you might find yourself in a disordered state of emotion where a trigger such as a Bitcoin dump, for example, can cause you to be more likely to sell than compared to a counterpart trader who does not gamble and is not in a state of high emotions.

So yeah, definitely...

[crzy]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

If you get Bitcoin at a higher price then you should be more affected by this but if you are just buying Bitcoin right now, and use it to gamble then I don’t see any huge impact on that for now. Seriously, some Bitcoin user pauses on their spending simply because of low value with Bitcoin and it looks like this crash will continue even go lower by $20k. If you are a gambler, better to look for alternatives since most of the gambling site rate are based on USD, so technically you are spending more Bitcoin than usual right now.

[niceli]

It did on me for sure. I remember when it was 60k+ prices, I gambled a lot more because I had a lot of profits, when your 100 bucks turns into 18k, you are willing to spend 1k of that gambling without worrying about the repurcussions. However when you have 2k back, then you start to think what you can do with it. And that is why I gamble much less right now, not zero but definitely a lot less than what I used to. This is why I believe that the dump had a huge impact on the hours of gambling impacted and the amount for sure. Instead of 700 bucks spent on 5 hours a day for a week, its more like 50 bucks spent on a whole month.

[Newlifebtc]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

In fact, if I look at the profit side when we get multiples, we clearly get more. For example, if you bet $10 in Bitcoin and get a multiple of 100x, the number of bitcoins increases. Needless to say, traders or investors cannot return profits in short trades for now.

bitcoin don't have any impact in betting with it I believe that the amount Fiat currency we give you for any betting platform they need the same amount that bitcoin will give you so therefore I have not seen any change between both of them so it's better for you to use the one you have the one you know very well to bet than any other one like bitcoin you don't know the value

[MonsterV]

Many people will regularly be shocked and anxiously await the price change when the price of bitcoin goes up and down. If you are going to gamble with bitcoins and you have a balance, you can have a balance in a recognized currency or in the Bitcoin itself. If you have the value in Fiat, then I wouldn't worry about that because it has no influence on the price rise or fall of the bitcoin. If your balance is in Btc or Mbtc, it can have major consequences. Negative, but also positive of course.

[robelneo]

well this question is very serious and even my head has been going crazy because of it, for example in my case, there are times when I make bets and I get 50$, when the price of LTC (I hate altcoins but at stake I prefer to make bets with LTC because the minimum withdrawal amount and the withdrawal fee amount are very small values so it pays a lot to use LTC to place bets ) but back to what I was saying, when you have 15$ in the account and the price of LTC is at 50 $ for example and drops to 44$ so my 50$ in LTC becomes just 44$ in LTC i.e. I get losses of 6$ even though I haven't made any bets. every time the market starts to fall? and a nightmare for anyone who funds in altcoins or even bitcoin in casinos

That's one of the downsides of betting in a Cryptocurrency based casino but if you will look on the positive side there's also an advantage and that is when you win when the market is just pumping up, it's like hitting a bird with one stone you win then when you withdraw the value has increased by a small percentage, but these things do not matter if you are playing to have fun, it only matters if you are playing to win and the market is dipping.

[Mahanton]

well this question is very serious and even my head has been going crazy because of it, for example in my case, there are times when I make bets and I get 50$, when the price of LTC (I hate altcoins but at stake I prefer to make bets with LTC because the minimum withdrawal amount and the withdrawal fee amount are very small values so it pays a lot to use LTC to place bets ) but back to what I was saying, when you have 15$ in the account and the price of LTC is at 50 $ for example and drops to 44$ so my 50$ in LTC becomes just 44$ in LTC i.e. I get losses of 6$ even though I haven't made any bets. every time the market starts to fall? and a nightmare for anyone who funds in altcoins or even bitcoin in casinos

That's one of the downsides of betting in a Cryptocurrency based casino but if you will look on the positive side there's also an advantage and that is when you win when the market is just pumping up, it's like hitting a bird with one stone you win then when you withdraw the value has increased by a small percentage, but these things do not matter if you are playing to have fun, it only matters if you win and the market is dipping.

You would be mindful on the time you had withdrawn and once those funds hits or credits into your own wallet and then the price had decline this is the only time you would really be worrying because you are losing
whether on big or small percentage basing on the market condition but its true that majority wont really be minding or bothering theirselves whenever they do gamble because before they had deposit
then they already prepared for the worst which we know that luck isnt something that you could really get or influenced. Play on the amount which you can afford to lose
and dont mind about investment aspects.

[nurilham]

In my opinion, it will give certain influence to the gamblers or the gambling platforms if they have not sold the BTC that they got when the price is still in high rate, because the price of BTC is very decreasing right now. But on the other hand, many gamblers also not focus on cashing out their BTC. Sometimes, they are only willing to collect more BTC and use them for gambling again. Additionally, if they are long tem holders, this will not give big impact to them.

[OgNasty]

I would imagine that the Bitcoin dump doesn't have many positive effects on anyone, outside of those who are short.  Perhaps there are some people who feel like they can gamble their way out of their investment losses, or people who are so fed up with losing their investment that they just risk it all as holding has become exhausting for them mentally.  Besides added risk taking with gambling, I could see people doing the same with investing by using leverage.  I'm sure you may end up hearing some stories about people betting their last coins and winning big, but there will be a lot of stressed out people who make bad decisions based on their temporary emotions and live to regret it.  As always, be careful.

[aioc]

... But also there are many gamblers who just want to have fun regardless of the price, so it all depends on the gambler intentions as well.

I also agree it really depends on the mindset of players, if he is playing to have fun it really doesn't matter the moment he bets he doesn't care about the price and I don't think he will withdraw if he just doubles the amount of his bankroll, the winnings will just stay, for another session, but if you're after making a profit, and you think of a dollar value not the amount of Bitcoin and you cannot wait and will not wait for another pump then you have something to worry about.

[Baofeng]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

In my case, I'm not affected by the sudden dump, I uses mostly bitcoin in my crypto betting so I don't look if the price is this X amount, the same amount I still bet regardless.

So I don't see it affecting us though, it's very different if we are investors and holders. As gamblers is the fun and the risk involved. Maybe for some this is very alarming and perhaps will limit their gambling. But on the contrary, I know one gambler who would increased his bet with the price is declining, his reason? he wanted to recover what we have lost during the dump, hehehe.

[KennyR]

I'm not sure about it, but to make up the portfolio more people will get into gambling. Through trading it won't be possible for now, so majority will get into gambling. Here very few succeed, whereas the rest begins to loss and starts to follow back to recover the losses. Another thing users who spend in terms of USDT will start to spend in terms of bitcoin. Whether the market is in the dump/bump it is always profiting the house.

[harizen]

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

No. Gambling is gambling and regardless of the trend, gamblers will make sure to continue their gambling habit no matter what.

I don't see how the volatile price of crypto will make them change the way they gambled. I think back then, there's a thread where the concern is the other way around which is, does high price have any impact on gamblers or something like that.

And besides, this isn't the first time they experience such things. The gambling entertainment will continue. There's also a way or a method on most sites to use other coins to save fees and not just by using Bitcoin.

[GreatArkansas]

Market dumping then there is a positive and negative impact.
If gamblers tend to hold their Bitcoin if they are using Bitcoin to gamble and lost its value, then it's a loss for me, but if you don't mind about that and just keep winning, you will ignore the value of Bitcoin even if it is dumping as long as you are winning and your Bitcoin balance keeps going up.

[ChiBitCTy]

One of the nice things is that when you submit bitcoin to an online casino they turn that in to a fiat currency therefore in a market downturn you’re not losing any value on your bitcoin. However of course if bitcoin spikes then the casino is keeping that difference so it works both ways but I’m personally okay with that.

[Wexnident]

It depends on what you do with your assets. Do you hold them in Bitcoin or do you hold them as fiat then just deposit and spend the entirety of whatever you deposited for that certain session? If it's the former then naturally you're assets would move depending on the market movement, if you did the latter then naturally the market movement will do nothing to your assets. In general, though it doesn't really affect anything related to the activity of gambling whatsoever, it's solely just your assets.

I honestly don't think dumps nor pumps would detriment gamblers from playing tbh. They (or we) are not traders but rather gamblers.