Does bitcoin dump have any impact on gamblers ?

[virasog]

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?

[livingfree]

If the holdings isn't that much, surely it's a big impact and you don't want to gamble with your bitcoins.

But as a gambler, you'll still find a way to continue what you've been doing and instead of using bitcoin you'll use the other altcoins that you have. Despite their value is dropping too.

You won't mind spending them as you have the priority to hold bitcoin than the alts. It is something like that for which you have bias towards bitcoin because it's no brainer that it's best to hold and have more when we're in a bear market.

[fiulpro]

 Not really.
If you are gambling, you would still Gamble for that minimum amount in dollars wedged against the bitcoins but at the same time you can have a lot of problems If you had some amount of Bitcoins on a gambling site so you won't be able to generally sell it fast ⏩ during the dumping as well. That's why most people who gamble daily on Bitcoin sites encash it timely thus making the whole thing easy and efficient as well. Never store your Bitcoins on any Gambling sites this can actually cause problems, always have them stored in a wallet.

[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?

gamblers who gambled with cryptocurrency don't panic of anything concerning gambling section of games. And why they don't bother much it's because it's not a game that concerned long investment.assuming it's investment that takes time and the falling affect usually it will be a different things.

[Slow death]

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

[Roidz]

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 current decline may only affect traders and investors, while for those who gamble, it doesn't seem too bothersome, because no matter how much the decline occurs, the bets they make will still have the same exchange rate as the fiat currency, unless they do withdraw bitcoins and sell them on the market, but I think gamblers just used bitcoins for deposits will mostly choose convert to fiat currency after the deposit is made and I see in some friends who are actively gambling, most of them only make withdrawals in in usdt or fiat money to their personal account or wallet instead.

[AmoreJaz]

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

if it has serious impact on you, just view your coins as is, meaning don't view it in USD for the moment. because you can really see the impact of the market price if you will view your funds in USD. so bet what you normally bet. i guess, in time, the market will recover. with BTC going down below 25k, i was looking for the major reasons why? so i just read about binance halting btc withdrawals, but it's all good now and SEC investigating BNB. but haven't found really big news that will make BTC market to plummet this level. so am thinking, that very soon, it will go back to 30k and above.
gamblers will always play no matter what. so i don't see big change in gambling. maybe, players will use more btc because it is cheaper???

[Viscore]

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?

As a gambler, i prefer not to use bitcoin if its value is dumping. The rewards are still not exciting so i won't take the risk instead. Although some would not mind the current exchange rate because some casinos have certainly fixed rewards, but still i prefer not to gamble using bitcoin. It would be a waste of bitcoin if i end up losing them, it will be better to just store them in my wallet and watch them grow their value when the market recovers. Though i still gamble, but i use fiat instead.

[l3pox]

I don’t think it’ll affect so much
Invert the question: does bitcoin pump affects the gamblers somehow?

Since it’s so easy to exchange btc to usd I think only a minor part of gamblers will care so much about the price

[avikz]

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?

There will definitely be an impact! But it's interesting to see if it's positive or negative! Addicted or professional gamblers will try to put more units of bitcoin in the table because of the low price. Hobbyists may stop gambling because their networth will go down etc.

It's hard to say what exactly would happen! But such a drastic price decrease will definitely have an impact on everything related to cryptocurrency.

[jossiel]

I don’t think it’ll affect so much
Invert the question: does bitcoin pump affects the gamblers somehow?

Since it’s so easy to exchange btc to usd I think only a minor part of gamblers will care so much about the price

Honestly, I agree.

Whether you gamble with 0.001BTC in a bull run, it will remain the same 0.001BTC in a bear market. Not unless you're that person that always calculates how much you've spent in dollars while gambling with those bitcoins.

I think that's the only thing that matters for this impact like spending 0.001BTC when the price was $69,000 and compare it to the price now.

[Raflesia]

It's hard to say something like this because some gamblers certainly don't really affect it because they just play with more in it, I don't know which reason is strong but I myself don't influence it but the soul of investors and trades is certainly very panicked seeing a situation like this.

The big whales in gambling, of course, they will panic because their assets are down, but that can be hit again by betting again and adding more, so that the influence or not must be experienced by each.

[Sterbens]

For me personally it definitely matters, because what I see is value focused on USD, not paying much attention to the amount of Bitcoins stored in the casino. The reason is that when it goes down, its value decreases, and our stakes will increase in Bitcoin. For now, I stopped betting with BItcoin and focused more on trying to buy some entries. An alternative to the steady gains of USDT betting is used today.

[Rruchi man]

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.

The dump has had an impact on everyone involved and having crypto. The traders, investors and gamblers are not left out as well. The impact is that during this timeframe, gamblers who use crypto in gambling may reduce the amount they use in gambling or stop gambling with crypto and revert back to the traditional fiat method or even start visiting offline casinos.

The average gambler believes that with every bet, he is likely to win, so the possibility of a core gambler stopping completely even during this dump season is out of the question.

[Gozie51]

It affects gamblers alot because hodlings in cryptocurrency also gets short or reduced from the bear. It mostly will discourage those newbie gamblers that want to try gambling in crypto, they may stay with fiat. For the addicts it will reduce how many times they can gamble because when they have low refill, they have no option than to reduce or source for more coins. Bear market effect like we have it today do have effect on every aspect of crypto business. The casinos also will record low volume of gamble.

Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

When they don't get winnings and the crypto bear is telling on the refill then the motive will definitely change to reconsideration and reduced outcome of gambling time.

[Fivestar4everMVP]

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 think the dump affects everyone, be you a gambler or investor or trader, it sure affects everyone, but the question now is, who still gambles with bitcoin? I guess none, sincere, I would rather gamble with altcoins than gamble with bitcoin.
Bitcoin is a store of value which should be held for future profit, like many would say, bitcoin is the digital gold, who gambles with gold?

There are several altcoin out there to gamble with really, though whatever affects bitcoin affects even altcoins, but I would rather risk loosing the altcoins than lose my precious bitcoins.

[gabbie2010]

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?

gamblers who gambled with cryptocurrency don't panic of anything concerning gambling section of games. And why they don't bother much it's because it's not a game that concerned long investment.assuming it's investment that takes time and the falling affect usually it will be a different things.

The OP is making reference to gamblers who deposit cryptos into their account thus the impact of the dump in the price will definitely affect the value of their funds, personally I trade forex using bitcoin as deposit however with constant dump in the price of bitcoin alternatively my broker has an option of a stable coin USDT which I switched over to, I think many of those gambling sites will also have a stable coin as an alternative means of deposit to cushion the effect of dump in the price of bitcoin, else their funds will continue to drop as the price of bitcoin falls.

[Quidat]

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?

Gamblers wont really be affected on this one considering that majority of them would just simply pegged out  their capital in USD value which means that if they do
decide to have $1000 worth of capital to gamble then it would just automatically be converted on how much bitcoin they would need to deposit.
Gambling on money which you are minding about investment? then you shouldnt have done gambling in the first place.
Dump would be nothing because they would simply just made out some deposits according to their preference.

[Sirait]

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 think from this question you will get different answers. not only traders but gamblers also have excessive panic, especially if the gambler makes a deposit with fiat benchmarks, then with a bear market condition, the gambler feels that he has lost the value of the btc he bought.

I personally don't feel panicked because I realize that at any time 1 btc = 1 btc only the value fluctuates according to the demand in the market.

[Doell]

Gamblers are the same as traders or investors, we also worry if the price dump, but we have another way which is to bet. Affected impact yes if the gambler make a sell his bitcoin when it crashes, but I really believe usually gamblers are more dare to bet than to sell. 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.