Does bitcoin dump have any impact on gamblers ?

[Smartprofit]

Bitcoins can be used to replenish deposits in online casinos, if there is confidence in the absence of a sharp increase in the price of the first cryptocurrency in the near future. 

Will bitcoin rise in the near future? 

In my opinion, local growth is possible (for example, price movement to $28,000). 

A more serious increase in the price of bitcoin is possible only if the policy of raising discount rates (refinancing rate) of the Fed is terminated.  So far, we see no signs of the Fed's intention to stop raising rates.  It is likely that rates will be gradually raised to 4 percent (possibly with periodic stops to analyze the effectiveness of the ongoing monetary policy). 

Therefore, in my opinion, at present, replenishing a deposit in an online casino in Bitcoin is an adequate and rational action.

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[madnessteat]

^

I don't agree with you at all. At the moment, the market is in such a state that if a major player decides to get rid of risky assets (and Bitcoin is such an asset), it can provoke an avalanche effect and as a consequence, Bitcoin can fall in price even more.

If you don't want to depend on volatility, just use Stablecoins to fund your deposit.

[goldkingcoiner]

Gamblers also suffer on market crash, there are some crypto gambling platforms that accept crypto but doesn't convert its value to $ value. While market price declines, we have to bet higher coin amounts for same payout. This is huge trouble especially when market goes down %60 and gamblers have to cover market losses before withdrawal on wining streak.

If that's the case for crypto gamblers, maybe they're better off leaving gambling for a while and saving their coins by just holding on to them. I guess it will be good for gamblers than them losing more of their coins on gambling either in value for money or in amount. But if they haven't been able to leave gambling, maybe they can convert their coins into stable coins, and then they can deposit them to a casino that accepts stable coins to gamble so they can continue gambling.

the main reason why today many gambling sites provide deposit and wd options with stablecoins is so that those who are afraid of price volatility on BTC or ETH can use stable coins as a choice. so that there are still a lot of people playing on crypto gambling sites.

If the market situation is irregular, I have several options, including using stable coins to deposit, depositing using altcoins or sticking with BTC or ETH, or the last one is not gambling and just waiting for the market to return to normal.

Maybe people have their own preferences so they can decide the best they can do during an irregular market situation. Or there are gamblers like me who do nothing or gamble at all.

Good thing you mentioned stable coins, I forgot that I wanted to say something about that as well. It seems to me that even investing in the hodling of stablecoins for gambling or whichever reason, is risky in itself and could also vaguely be called gambling.

As we have seen with stablecoins like LUNA UST, there is absolutely no promise that said stablecoins will result in a safe haven as you go about your day. In fact, it could all become worthless from one second to the other. Just like any other cryptocurrency.

It might be a safer looking option than other crypto but its still far from safe.

[Vaskiy]

Gamblers also suffer on market crash, there are some crypto gambling platforms that accept crypto but doesn't convert its value to $ value. While market price declines, we have to bet higher coin amounts for same payout. This is huge trouble especially when market goes down %60 and gamblers have to cover market losses before withdrawal on wining streak.

that makes sense
since bull markets also bring more attention to crypto websites the volume on gambling websites crypto-based is probably correlated with prices

I remember in the last bear market the signature campaigns here even stopped.

Yeah, you were absolutely right Sir, I also noticed that. Only this year I saw where most of the signature campaign are now little by little becomes good again here in the forum. I hope it won't happen or repeat what happened before.

Aside from that, I think it might be that some of the gamblers got affected by the dumped of Bitcoin and some are not I guess.

Yes, in the past when the market suffered a bearish move automatically every business that are using cryptocurrencies slow down the promotion. This time the perspective over the market have changed and people are finding it an opportunity to market well. Myself who used to spend in terms of spending in dollars while gambling started to spend in terms of bitcoin. Maybe same as me others too might've changed the gambling pattern.

[Lucasgabd]

I remember in the last bear market the signature campaigns here even stopped.

BTC paid signatures? I honestly don't remember when this happened, was it in late 2019 or early 2020?

Gamblers also suffer on market crash, there are some crypto gambling platforms that accept crypto but doesn't convert its value to $ value. While market price declines, we have to bet higher coin amounts for same payout. This is huge trouble especially when market goes down %60 and gamblers have to cover market losses before withdrawal on wining streak.

If that's the case for crypto gamblers, maybe they're better off leaving gambling for a while and saving their coins by just holding on to them. I guess it will be good for gamblers than them losing more of their coins on gambling either in value for money or in amount. But if they haven't been able to leave gambling, maybe they can convert their coins into stable coins, and then they can deposit them to a casino that accepts stable coins to gamble so they can continue gambling.

the main reason why today many gambling sites provide deposit and wd options with stablecoins is so that those who are afraid of price volatility on BTC or ETH can use stable coins as a choice. so that there are still a lot of people playing on crypto gambling sites.

sorry they didn't stop completely but it was much harder to find a good campaign (or maybe it was just me... could be)
in 2018 it was the hardest year if my memory is correct.

now it's golden times compared to the past, way more campaigns regardless of market conditions

[Cling18]

I remember in the last bear market the signature campaigns here even stopped.

BTC paid signatures? I honestly don't remember when this happened, was it in late 2019 or early 2020?

Gamblers also suffer on market crash, there are some crypto gambling platforms that accept crypto but doesn't convert its value to $ value. While market price declines, we have to bet higher coin amounts for same payout. This is huge trouble especially when market goes down %60 and gamblers have to cover market losses before withdrawal on wining streak.

If that's the case for crypto gamblers, maybe they're better off leaving gambling for a while and saving their coins by just holding on to them. I guess it will be good for gamblers than them losing more of their coins on gambling either in value for money or in amount. But if they haven't been able to leave gambling, maybe they can convert their coins into stable coins, and then they can deposit them to a casino that accepts stable coins to gamble so they can continue gambling.

the main reason why today many gambling sites provide deposit and wd options with stablecoins is so that those who are afraid of price volatility on BTC or ETH can use stable coins as a choice. so that there are still a lot of people playing on crypto gambling sites.

sorry they didn't stop completely but it was much harder to find a good campaign (or maybe it was just me... could be)
in 2018 it was the hardest year if my memory is correct.

now it's golden times compared to the past, with way more campaigns regardless of market conditions

Yes, campaigns these days are way better than the campaigns before. Gamblers who are having a hard time dealing with the market status could have more opportunities to earn and have good capital for gambling.
I think gamblers will still gamble regardless of the Bitcoin dump because they can use other alternatives. Converting or using stable coins will be a better step.

[Quidat]

Yes, campaigns these days are way better than the campaigns before. Gamblers who are having a hard time dealing with the market status could have more opportunities to earn and have good capital for gambling.
I think gamblers will still gamble regardless of the Bitcoin dump because they can use other alternatives. Converting or using stable coins will be a better step.

If you are a gambler and do able to join up gambling based signature campaign then it would really be an advantage since you could really be having that capital which you could able to make use
but most of the time people would eventually be withdrawing those pay and would make use into other aspect and would really be saving up for future purposes.
If we do talk about recent deposit and basing with the current market condition then its up to someone whether they would be ignoring it or not.
Impact will be self preference and self acceptance on whats happening around.

[BobK71]

If the price of Bitcoin goes down, gamblers will get less money from their gambling than specified bets? The answer is no because they get btc according to their betting odds. However, if a gambler hold his deposited money or collected money in the form of BTC for betting in his wallet, then some of his money will be reduce for the price volatility of BTC. But if not, there is no possibility of any kind of effect on gamblers.

[TopT3ns]

If the price of Bitcoin goes down, gamblers will get less money from their gambling than specified bets? The answer is no because they get btc according to their betting odds. However, if a gambler hold his deposited money or collected money in the form of BTC for betting in his wallet, then some of his money will be reduce for the price volatility of BTC. But if not, there is no possibility of any kind of effect on gamblers.

When I want to do gambling I think it will be lighter when using altcoins than bitcoin because the selling value is still low so it will make you a little calm when you lose, while so far I keep assets in the form of bitcoins in the nominal gambling place that I have still and no change even though holding assets in gambling is very dangerous because they can collapse instantly without your knowledge. when I have made a lot of profit from gambling, I think immediately to make a withdrawal and secure the profits that have been obtained.

[Pamadar]

If the price of Bitcoin goes down, gamblers will get less money from their gambling than specified bets? The answer is no because they get btc according to their betting odds. However, if a gambler hold his deposited money or collected money in the form of BTC for betting in his wallet, then some of his money will be reduce for the price volatility of BTC. But if not, there is no possibility of any kind of effect on gamblers.

When I want to do gambling I think it will be lighter when using altcoins than bitcoin because the selling value is still low so it will make you a little calm when you lose, while so far I keep assets in the form of bitcoins in the nominal gambling place that I have still and no change even though holding assets in gambling is very dangerous because they can collapse instantly without your knowledge. when I have made a lot of profit from gambling, I think immediately to make a withdrawal and secure the profits that have been obtained.

Better to keep your earnings into stable asset if you are well-satisfied with the amount.

It will allow you to feel comfortable, though there are some gamblers who are not comfortable with how the market
changes, but for more experienced gamblers, they are good and willing to take whatever the market is, bringing them
inside this crypto gambling industry.

[Lucasgabd]

If the price of Bitcoin goes down, gamblers will get less money from their gambling than specified bets? The answer is no because they get btc according to their betting odds. However, if a gambler hold his deposited money or collected money in the form of BTC for betting in his wallet, then some of his money will be reduce for the price volatility of BTC. But if not, there is no possibility of any kind of effect on gamblers.

that's a good analysis and breaks the thinking well

understanding incentives is a must to figure out why some things end up happening the way they do.
good one

[hahay]

If we are aware about deposits made to gambling accounts then I think there are two possibilities, they will play it immediately and they can only save it for later use. Also, if a player gets a win in gambling and doesn't immediately withdraw it, then this kind of case also has an impact on the bitcoin price dropping. Therefore, a drop in the price of bitcoin can basically be bad and also mean nothing in gambling. Whether or not it has an impact depends on how they use their money in gambling, because nowadays if we want to gamble on a gambling site and or gambling platform, we will at least make a deposit first. It's different if the gambling site does not require a deposit that can bet directly, then the decline in the price of bitcoin certainly has no effect.

[maydna]

Gamblers also suffer on market crash, there are some crypto gambling platforms that accept crypto but doesn't convert its value to $ value. While market price declines, we have to bet higher coin amounts for same payout. This is huge trouble especially when market goes down %60 and gamblers have to cover market losses before withdrawal on wining streak.

If that's the case for crypto gamblers, maybe they're better off leaving gambling for a while and saving their coins by just holding on to them. I guess it will be good for gamblers than them losing more of their coins on gambling either in value for money or in amount. But if they haven't been able to leave gambling, maybe they can convert their coins into stable coins, and then they can deposit them to a casino that accepts stable coins to gamble so they can continue gambling.

the main reason why today many gambling sites provide deposit and wd options with stablecoins is so that those who are afraid of price volatility on BTC or ETH can use stable coins as a choice. so that there are still a lot of people playing on crypto gambling sites.

If the market situation is irregular, I have several options, including using stable coins to deposit, depositing using altcoins or sticking with BTC or ETH, or the last one is not gambling and just waiting for the market to return to normal.

Maybe people have their own preferences so they can decide the best they can do during an irregular market situation. Or there are gamblers like me who do nothing or gamble at all.

Good thing you mentioned stable coins, I forgot that I wanted to say something about that as well. It seems to me that even investing in the hodling of stablecoins for gambling or whichever reason, is risky in itself and could also vaguely be called gambling.

As we have seen with stablecoins like LUNA UST, there is absolutely no promise that said stablecoins will result in a safe haven as you go about your day. In fact, it could all become worthless from one second to the other. Just like any other cryptocurrency.

It might be a safer looking option than other crypto but its still far from safe.

At least if they use stable coins for gambling, they can gamble without having to think about the price movements of bitcoin or altcoins. They will see the value for money directly without going through conversions, and they can stop if they see the money has started to decrease a lot.

Indeed, nothing is safe in gambling because we will have the risk of losing money, but we can continue to gamble by choosing the coins we want.

[|MINER|]

If the price of Bitcoin goes down, gamblers will get less money from their gambling than specified bets? The answer is no because they get btc according to their betting odds. However, if a gambler hold his deposited money or collected money in the form of BTC for betting in his wallet, then some of his money will be reduce for the price volatility of BTC. But if not, there is no possibility of any kind of effect on gamblers.

I agree with your words. But I also would like to say that it could be impact to all gambling industry. If you looks the industry of Cryptocurrency then when bitcoin is going to down hole crypto industry also going to down . Now the point is, when the crypto industry is down, projects don't get their new updates or new projects that much.  In this case, gamblers get less opportunity than when Bitcoin is at the top.  So I would say that when Bitcoin goes down, gamblers are not directly affected by it, but they are indirectly affected.

[len01]

At least if they use stable coins for gambling, they can gamble without having to think about the price movements of bitcoin or altcoins. They will see the value for money directly without going through conversions, and they can stop if they see the money has started to decrease a lot.

Indeed, nothing is safe in gambling because we will have the risk of losing money, but we can continue to gamble by choosing the coins we want.

you tell the truth. because sometimes some gamblers also have concerns that when playing gambling the price btc or eth dump without being noticed, and the way to avoid fluctuating crypto prices when gambling is better to use stable coins. so there are no worries when gambling and storing their assets on the gambling site.
and for myself, i've also been gambling using stable coins to avoid these worries.

[Hispo]

-snip-

...and for myself, i've also been gambling using stable coins to avoid these worries.

And what is your token and blockchain of preference?
Because when Ethereum network is congestioned it may be a bit taxing to deposit to casinos, specially if one's dealing with relatively small amounts.  I personally prefer to use Tron network when dealing with stablecoins, because the fees are low,I personally have not had any experience with Binance chain or BUSD, for example.

[maydna]

-snip-

...and for myself, i've also been gambling using stable coins to avoid these worries.

And what is your token and blockchain of preference?
Because when Ethereum network is congestioned it may be a bit taxing to deposit to casinos, specially if one's dealing with relatively small amounts.  I personally prefer to use Tron network when dealing with stablecoins, because the fees are low,I personally have not had any experience with Binance chain or BUSD, for example.

Using Tron to gamble can minimize the transaction costs of sending from the wallet to the gambling site, and the process is also fast. I think we can choose a Tron-based stable coin with a small transaction fee for stable coins. Very few casinos use BUSD for gambling, and many casinos use USDT currency based on the Tron network.

But Tron has become a choice for gamblers to gamble. Besides that, maybe Dogecoin will still be a favorite for them if the price doesn't fluctuate too often.

[len01]

-snip-

...and for myself, i've also been gambling using stable coins to avoid these worries.

And what is your token and blockchain of preference?
Because when Ethereum network is congestioned it may be a bit taxing to deposit to casinos, specially if one's dealing with relatively small amounts.  I personally prefer to use Tron network when dealing with stablecoins, because the fees are low,I personally have not had any experience with Binance chain or BUSD, for example.

Using Tron to gamble can minimize the transaction costs of sending from the wallet to the gambling site, and the process is also fast. I think we can choose a Tron-based stable coin with a small transaction fee for stable coins. Very few casinos use BUSD for gambling, and many casinos use USDT currency based on the Tron network.

But Tron has become a choice for gamblers to gamble. Besides that, maybe Dogecoin will still be a favorite for them if the price doesn't fluctuate too often.

actually it's great to use the Tron network as a solution to avoid fluctuating crypto prices and those worries.
to be honest until recently i am only used USDT on the ETH network. even though the transaction fee is very expensive but for me it is the best so that when playing gambling, i don't have to worry anymore and focus on playing gambling.

looks like i should try your suggestion like using Tron network to avoid when ETH network is congested. to be honest i never use Tron network 

[Lucasgabd]

-snip-

...and for myself, i've also been gambling using stable coins to avoid these worries.

And what is your token and blockchain of preference?
Because when Ethereum network is congestioned it may be a bit taxing to deposit to casinos, specially if one's dealing with relatively small amounts.  I personally prefer to use Tron network when dealing with stablecoins, because the fees are low,I personally have not had any experience with Binance chain or BUSD, for example.

those who want to go with low fees and fast transactions would usually prefer tron, bsc, litecoin or doge

even though nowadays seems like non-EVM based crypto is a bit out of the loop, they're way less used than before.

[inthelongrun]

Bitcoin in a bearish situation probably affects only to few gamblers. Gamblers are gamblers. They should not care either bitcoin is up or down. When bitcoin is down, they can purchase cheap bitcoins to gamble. When bitcoin is up, they purchase expensive bitcoins to gamble. But these gamblers before purchasing bitcoins have their budgets already based on fiat money.

But if a gambler is using a portion of its crypto investments and savings in order to gamble, then that person most probably is affected. With the value of its investments dropping, a move to stop or minimize gambling is very reasonable enough.