Does bitcoin dump have any impact on gamblers ?

[Boristhecat]

When we look at this from a logical point of view it affects gamblers of course. Because if they want to make some money and convert it to fiat money again then a dump in the market would be frustrating. However there are some people also who just like to gamble with cryptocurrencies without looking at the movements in the market much. These people might be aiming to reach a certain amount of that cryptocurrency by gambling and even to HODL that amount until some point. I don't know how many people do this in the world now but this is another interesting way of getting away from being sad about a dump. Because you are already not aiming to withdraw your funds until it increases its value to a specific level.

It seems to me that if a person wants to increase the amount of his fiat money through gambling, then he initially uses fiat substitutes - stablecoins. If he is trying to increase the amount of his fiat money by investing in cryptocurrencies, then most likely he understands the risk and if a collapse occurs, he continues to hold the cryptocurrency in anticipation of a bull market. And in this case, he may be gambling or not, but subconsciously he values his cryptocurrency not at the current rate, but at the one he expects in the future.

[1714682999]

1714682999

[1714682999]

1714682999

[TribalBob]

if you use btc, I think it has a very big impact on spending, especially at this time bitcoin is experiencing a decline, and of course those who use bitcoin need twice as much for their capital, the impact caused is a decrease in gambling that uses btc and they return to fiat/stablecoin as an alternative or can be said to minimize loss if later btc returns to 40k $

[Lucasgabd]

<...>
Bitcoin isnt everything but i cant blame out on why people are really that interested that much with it because it could really give out that opportunity and benefits which fiat cant able to provide or give it out thats

why people are really interested on it and put up much support on it because we've seen its potential and chances on making profits too but we cant just avoid nor deny the fact that we do still ending up on
needing fiat thats why certain actions would be always correlated and connected to it because we do aim for accumulating more cash.

Spending whether fiat or crypto it would always matter as long it does have value and losing it would really be giving such impact.

i think it's easier for people on countries with more corrupted systems and weaker fiat currencies to understand the importance of bitcoin and crypto in general
as a different possibility, a new system

[TopT3ns]

if you use btc, I think it has a very big impact on spending, especially at this time bitcoin is experiencing a decline, and of course those who use bitcoin need twice as much for their capital, the impact caused is a decrease in gambling that uses btc and they return to fiat/stablecoin as an alternative or can be said to minimize loss if later btc returns to 40k $

When using a coin value that has a high selling price, it can have an impact on psychology when you lose or win, therefore it is better to gamble using altcoins that have a low exchange rate so that when you lose you stay calm because the exchange rate is not expensive and I I think there are many gambling places that provide altcoin options as an alternative to digital currency used to gamble.

[goinmerry]

When using a coin value that has a high selling price, it can have an impact on psychology when you lose or win, therefore it is better to gamble using altcoins that have a low exchange rate so that when you lose you stay calm because the exchange rate is not expensive and I I think there are many gambling places that provide altcoin options as an alternative to digital currency used to gamble.

But on the other hand, you will also have low winnings in return since your bet is not that high.

Just a waste of time gambling if after spending a long time, we are just playing on a small stake. We should make our gambling session worth our time. It's not that we need to bet high but we should bet on a fair amount to somehow expect fair winnings too.

No need also to bet based on crypto-values if you care about its fiat exchange rate. To control the amount you want to bet or you want a specific bet based on the fiat rate, most sites now have an option to view your crypto-balance in fiat value and place a bet with that instead.

[Fatunad]

if you use btc, I think it has a very big impact on spending, especially at this time bitcoin is experiencing a decline, and of course those who use bitcoin need twice as much for their capital, the impact caused is a decrease in gambling that uses btc and they return to fiat/stablecoin as an alternative or can be said to minimize loss if later btc returns to 40k $

When using a coin value that has a high selling price, it can have an impact on psychology when you lose or win, therefore it is better to gamble using altcoins that have a low exchange rate so that when you lose you stay calm because the exchange rate is not expensive and I I think there are many gambling places that provide altcoin options as an alternative to digital currency used to gamble.

Doesnt matter if value would be high or not because on the moment you've been using the coin you had deposited then the value would be just the same or the amount of coins
you would be using.The thing on here is that you do know on what you should gonna use whether a coin does have a big potential or a coin which are really good to be used on gambling (memecoins).
Whenever you do tend to play gambling then you wont really be minding on how much you would gonna spend or simply talks about investment because you would basically be
spending instead so it wont really be that an issue.

[Pamadar]

When using a coin value that has a high selling price, it can have an impact on psychology when you lose or win, therefore it is better to gamble using altcoins that have a low exchange rate so that when you lose you stay calm because the exchange rate is not expensive and I I think there are many gambling places that provide altcoin options as an alternative to digital currency used to gamble.

But on the other hand, you will also have low winnings in return since your bet is not that high.

Just a waste of time gambling if after spending a long time, we are just playing on a small stake. We should make our gambling session worth our time. It's not that we need to bet high but we should bet on a fair amount to somehow expect fair winnings too.

No need also to bet based on crypto-values if you care about its fiat exchange rate. To control the amount you want to bet or you want a specific bet based on the fiat rate, most sites now have an option to view your crypto-balance in fiat value and place a bet with that instead.

You have to balance your budget and I get your point about not to waste your time if you really have a good amount of spare

to play and bet with, maybe more on how a gambler takes his responsibilities, if he knows how to control well and how to value
his initial capital, he will try to convert his coin to fiat and sets his targets.

It's still a debate in terms of devaluating and how the market moves each time you send your money inside the house.

[Lucasgabd]

When using a coin value that has a high selling price, it can have an impact on psychology when you lose or win, therefore it is better to gamble using altcoins that have a low exchange rate so that when you lose you stay calm because the exchange rate is not expensive and I I think there are many gambling places that provide altcoin options as an alternative to digital currency used to gamble.

But on the other hand, you will also have low winnings in return since your bet is not that high.

Just a waste of time gambling if after spending a long time, we are just playing on a small stake. We should make our gambling session worth our time. It's not that we need to bet high but we should bet on a fair amount to somehow expect fair winnings too.

No need also to bet based on crypto-values if you care about its fiat exchange rate. To control the amount you want to bet or you want a specific bet based on the fiat rate, most sites now have an option to view your crypto-balance in fiat value and place a bet with that instead.

You have to balance your budget and I get your point about not to waste your time if you really have a good amount of spare

to play and bet with, maybe more on how a gambler takes his responsibilities, if he knows how to control well and how to value
his initial capital, he will try to convert his coin to fiat and sets his targets.

It's still a debate in terms of devaluating and how the market moves each time you send your money inside the house.

I can see how some gamblers will prefer to manage bankroll in only one currency, either bitcoin (or other crypto) or usd/fiat
if you're double-managing you have to be aware of your bankroll and gambling results and also keep up with the market for bitcoin flutuations in dollar price
definitely harder

what do you all think?

[inanilujimi]

I don't think that's the case for the casinos who have a direct betting with Bitcoin or other altcoins and has the betting limit set in Bitcoin value.
Since you're actually betting on Bitcoin which also means you will win a percentage in Bitcoin as well not in dollars. So, regardless of how much the Btc price is, still it doesn't matter coz again you are betting with Bitcoin.

I do not know what I will think if I have some amount of money in bitcoin on a gambling site and all of a sudden, the price of bitcoin falled from $48000 to $20000 which is more than 50% loss. Yes I agree that a gambler betting with bitcoin is betting with bitcoin and 1BTC equals to 1 BTC, but people will always think about this as they passively lose money. I do not just bet with bitcoin, I do that after significant bear market, when I know that bull market will be certain than further bear market.

From what I know, until now bitcoin has never lost its value up to 50% in just one day. it's true as a gambler if placing a bet with bitcoin will have a direct impact on the value of the win or loss we get, but a gambler should be used to that kind of thing.

[hahay]

I don't think that's the case for the casinos who have a direct betting with Bitcoin or other altcoins and has the betting limit set in Bitcoin value.
Since you're actually betting on Bitcoin which also means you will win a percentage in Bitcoin as well not in dollars. So, regardless of how much the Btc price is, still it doesn't matter coz again you are betting with Bitcoin.

I do not know what I will think if I have some amount of money in bitcoin on a gambling site and all of a sudden, the price of bitcoin falled from $48000 to $20000 which is more than 50% loss. Yes I agree that a gambler betting with bitcoin is betting with bitcoin and 1BTC equals to 1 BTC, but people will always think about this as they passively lose money. I do not just bet with bitcoin, I do that after significant bear market, when I know that bull market will be certain than further bear market.

From what I know, until now bitcoin has never lost its value up to 50% in just one day. it's true as a gambler if placing a bet with bitcoin will have a direct impact on the value of the win or loss we get, but a gambler should be used to that kind of thing.

Indirectly and unconsciously the price decline will always affect, but in gambling with those who continue to bet then they will not really mind it. It's a different story if you save money in an existing casino and or gambling platform, then you will realize that you have lost even though you don't make a bet. But if you then use the money for betting, then you will no longer care about the falling price. Regardless of the result, you lose or win, because you can put that money back and hope the bitcoin price will rise.

[wxa7115]

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?

Honestly everyone is effected with this dump. Gamblers when they lose money in savings go to gambling to try and get that money back and can end up losing it so this dump can have a really bad effect on all gamblers . I think its a difference between fiat and crypto gambling

For a gambler which just enjoys the games and obtains some entertainment out of them then there is not much of a problem with the price going down after they made their deposit and they may just adjust their bet size down to compensate.

However a gambler with some self-control issues may find themselves thinking about recovering the money they have lost and may think of using gambling for their purposes, but as we know that is not really a good idea as gambling with the desire to obtain profits has the tendency to produce the opposite results.

[Lucasgabd]

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?

Honestly everyone is effected with this dump. Gamblers when they lose money in savings go to gambling to try and get that money back and can end up losing it so this dump can have a really bad effect on all gamblers . I think its a difference between fiat and crypto gambling

For a gambler which just enjoys the games and obtains some entertainment out of them then there is not much of a problem with the price going down after they made their deposit and they may just adjust their bet size down to compensate.

However a gambler with some self-control issues may find themselves thinking about recovering the money they have lost and may think of using gambling for their purposes, but as we know that is not really a good idea as gambling with the desire to obtain profits has the tendency to produce the opposite results.

the same way as revenge trading, revenge gambling is probably also a thing
neurotransmitters triggering in a way that when you lose you get hooked by the possibility of winning afterwards
always a good idea to watch our thoughts and habits.

[LUCKMCFLY]

Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll.  It will greatly affect their betting power when the Bitcoin price dump.  The same way it increases their betting power when the Bitcoin price surge.  Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.

Although there is an advantage in this, if a person decides to play a lot in terms of sats and manages to accumulate many winning it is likely that he will reach a respectable amount and this over time will become a small amount of money, for example I like it a lot play at freebitco,in and we know very well that when we bet sats on the multiplier we can have a good streak and get a good amount, this does not limit the level that we have in terms of fiat money, the person only seeks to have sats, at Just like those who trade on Bitmex, they only seek to make as many satoshis as possible, so if you see it this way it makes very good sense that when BTC rises in price you have a considerable amount of money.

[Cryptomultiplier]

I wouldn't bother about the dump if I know there's a likely chance my bet will be successful. Many gamblers have same mindset. Although I believe the dump may influence the count of what and which teams one would bet on.

[Lucasgabd]

I wouldn't bother about the dump if I know there's a likely chance my bet will be successful. Many gamblers have same mindset. Although I believe the dump may influence the count of what and which teams one would bet on.

interesting, so you think bitcoin price would affect where and how people would bet?
what makes you think that?

just curious about it
I'd say that bitcoin price could affect how people behave regarding the currency they choose to keep or bet with, but would guess it would affect betting behavior (like chosing more or less aggressive bets, so forth and so on)

[Lanatsa]

Bitcoin dump can only affect gamblers that are holding Bitcoin as their bankroll.  It will greatly affect their betting power when the Bitcoin price dump.  The same way it increases their betting power when the Bitcoin price surge.  Aside from Bitcoin holders, I do not think that a bitcoin dump can affect any gamblers that hold stablecoin but definitely cryptocurrency holders will be indirectly affected depends on how they holding crypto react to the Bitcoin dump.

Although there is an advantage in this, if a person decides to play a lot in terms of sats and manages to accumulate many winning it is likely that he will reach a respectable amount and this over time will become a small amount of money, for example I like it a lot play at freebitco,in and we know very well that when we bet sats on the multiplier we can have a good streak and get a good amount, this does not limit the level that we have in terms of fiat money, the person only seeks to have sats, at Just like those who trade on Bitmex, they only seek to make as many satoshis as possible, so if you see it this way it makes very good sense that when BTC rises in price you have a considerable amount of money.

It could really work but if you do only mind about investment because not all would really be minding about their gains or coins that they had able to win in gambling because they are already ready on losing those in the

first place but since we do have different insights and views then it would really vary but most of the time, we dont really care which we do play for entertainment and winning money will be just a bonus.

Its a personal kind of reaction on what are the views of people whenever there's a declining market which could mainly affect all peoples portfolio in overall scale.

[strunberg]

I don't think that's the case for the casinos who have a direct betting with Bitcoin or other altcoins and has the betting limit set in Bitcoin value.
Since you're actually betting on Bitcoin which also means you will win a percentage in Bitcoin as well not in dollars. So, regardless of how much the Btc price is, still it doesn't matter coz again you are betting with Bitcoin.

I do not know what I will think if I have some amount of money in bitcoin on a gambling site and all of a sudden, the price of bitcoin falled from $48000 to $20000 which is more than 50% loss. Yes I agree that a gambler betting with bitcoin is betting with bitcoin and 1BTC equals to 1 BTC, but people will always think about this as they passively lose money. I do not just bet with bitcoin, I do that after significant bear market, when I know that bull market will be certain than further bear market.

From what I know, until now bitcoin has never lost its value up to 50% in just one day. it's true as a gambler if placing a bet with bitcoin will have a direct impact on the value of the win or loss we get, but a gambler should be used to that kind of thing.

its never happen although in craziest market , bitcoin maximum crash percentages maybe only 8%, but for continuesly in several days it has probability if any bad fundamental news released. Bitcoin price should be good object to gambling due its volatility each day. Alot gamblers will like this kind games.

[Cookdata]

if you use btc, I think it has a very big impact on spending, especially at this time bitcoin is experiencing a decline, and of course those who use bitcoin need twice as much for their capital, the impact caused is a decrease in gambling that uses btc and they return to fiat/stablecoin as an alternative or can be said to minimize loss if later btc returns to 40k $

This is why casinos with bitcoin deposits will always be huge merit for gambling casinos, players will play games and wager bitcoin now that the price is low and when they lose their bitcoin, the casino gains an equivalent amount of USD in bitcoin, and they continue to keep this bitcoin in their collects until the price goes up before they sell and usually, they always make 3x of that value, this is why gambling is profitable enterprise when players continue to lose, On the other hand, when the player wins on any casino, withdrawing bitcoin is the best approach to get more bitcoin.

[suzanne5223]

if you use btc, I think it has a very big impact on spending, especially at this time bitcoin is experiencing a decline, and of course those who use bitcoin need twice as much for their capital, the impact caused is a decrease in gambling that uses btc and they return to fiat/stablecoin as an alternative or can be said to minimize loss if later btc returns to 40k $

This is why casinos with bitcoin deposits will always be huge merit for gambling casinos, players will play games and wager bitcoin now that the price is low and when they lose their bitcoin, the casino gains an equivalent amount of USD in bitcoin

The above user was talking about a decrease in the number of gamblers that use Bitcoin to play in casinos which is normal if the Bitcoin was bought at a high price and the market has dumped in price before the BTC holder wants to gamble

and they continue to keep this bitcoin in their collects until the price goes up before they sell and usually,

It does not always work like this because gambling also needs to pay some huge winning at some point and also pay their staff.

they always make 3x of that value, this is why gambling is profitable enterprise when players continue to lose

Yes, sometimes that's the case but that's not the only reason why the casino is profitable because the chance of the house always winning has made it profitable right from the beginning.
Having said that, casino Roobet usually convert deposit into USD which mean they can also lose some 3x if the market dump after a user deposit BTC.

[maybukaspa]

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?

Actually if you are a gambler the value of crypto to you is like doesn't affect much you very because in gambling you can win more like 2x or 3x, And imagine you win that and weeks later the value pumps there's nothing wholesome with that right ?

You are right indeed, gambler are focus more on their gains and not in the value of the bitcoin. And also just to add there are game streamers right now who play gambling the most famous one is XQZ.