Does bitcoin dump have any impact on gamblers ?

[LUCKMCFLY]

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

That is one of the main reasons why the crypto market affects players, it could not have been said better, more when players bet with BTC, it is necessary to emphasize that the big players bet big and have the ability to support their movements, but those who are not big but make small bets have a hard time recovering, however I think that when the market goes down, it is most likely and I think that what most players do is bet what they have in altcoin, perhaps if they increase their altcoins it can improve their situation as far as what is lost in value is a risk that many take. However, something similar has been discussed in another thread that has to do with LN, which for me makes a lot of sense when you take into account the BTC.

For those like you, you won't feel the impact of it if you've decided to use those bitcoins that should be for holding. Emotions will push you to use it despite that you don't really have to but because of the situation, you're in that many losses.
You only have a few things wanting to do and that's to spend you have left on your holdings because there's no other fund you shall be getting it for you to continue and try to take back your losses.

When you are that impulsive then your investment or something been saved will really be in great risk or trouble on being spent which it would really be a good indication that you should stop gambling.
before its too late but if you do know that you are really having that good control of yourself when it comes to fund handling then i dont really see any problems with that.
Investment is totally separated on the thing you've been dealing with gambling which those funds shouldnt really be spent on the first place if you are really that too emotional.
Dont play if you do easily snip up those investments whenever you are in a loss.

It's quite rare to see those gamblers that will admit that they're no longer in control. They'll tell that everything's under control despite that they're already totally devastated by their addiction and that's why even their investments, all of it are being spent so it won't matter to them the usage of it whether bitcoin pumps or dumps. But I do recognize that there are gamblers that no doubt are in control of what they do.

The truth is that in those cases where a player affirms these things, I consider it dangerous, because he can deceive others, but in the same way he deceives himself, this is something that I do not see well, because a person must accept his condition, if he is addicted so that he can receive help, I know it can cause you shame, but it is better to do it that way, because otherwise you will stop having friends and your family environment will also be affected, these are things that a player or a person who is at risk must accept, of course everything is also in the personality of each player, and the way they attack those problems, it's all about seeing and knowing the details, and sometimes it influences how they should let others know, not everyone has the same understanding of a problem.

[passwordnow]

It's quite rare to see those gamblers that will admit that they're no longer in control. They'll tell that everything's under control despite that they're already totally devastated by their addiction and that's why even their investments, all of it are being spent so it won't matter to them the usage of it whether bitcoin pumps or dumps. But I do recognize that there are gamblers that no doubt are in control of what they do.

The truth is that in those cases where a player affirms these things, I consider it dangerous, because he can deceive others, but in the same way he deceives himself, this is something that I do not see well, because a person must accept his condition, if he is addicted so that he can receive help, I know it can cause you shame, but it is better to do it that way, because otherwise you will stop having friends and your family environment will also be affected, these are things that a player or a person who is at risk must accept, of course everything is also in the personality of each player, and the way they attack those problems, it's all about seeing and knowing the details, and sometimes it influences how they should let others know, not everyone has the same understanding of a problem.

That is why we rarely see most gamblers telling us that they're in the right condition or the actual condition of being in control. Because as you observe those that are actually who have lost already, they're the ones that will tell good things about themselves but trying to avoid the conversation that they're no longer okay. They can't control themselves anymore and they're hyper and hyping themselves just for them to put the conversation into other topic and not focusing on them.

[Little_Sister]

That is why we rarely see most gamblers telling us that they're in the right condition or the actual condition of being in control. Because as you observe those that are actually who have lost already, they're the ones that will tell good things about themselves but trying to avoid the conversation that they're no longer okay. They can't control themselves anymore and they're hyper and hyping themselves just for them to put the conversation into other topic and not focusing on them.

Many gamblers try to hide the real conditions of the losses, but we will eventually find out after we observe his awkward and uninspired behavior. But we shouldn't pressure him to question his condition because he's trying to recover from gambling losses, it's better to invite him to relax in a cafe or other place to relieve stress.

[romero121]

This is the right time for the gambling sites to make good profit, because most of the gamblers doesn't change the gambling process. Some might change from usage in terms of USD, whereas the usage in terms of bitcoin still continues. This makes the spending to be high as the price of bitcoin is low. So, from an user perspective he/she losses small and the truth is different.

[Silberman]

For those like you, you won't feel the impact of it if you've decided to use those bitcoins that should be for holding. Emotions will push you to use it despite that you don't really have to but because of the situation, you're in that many losses.
You only have a few things wanting to do and that's to spend you have left on your holdings because there's no other fund you shall be getting it for you to continue and try to take back your losses.

When you are that impulsive then your investment or something been saved will really be in great risk or trouble on being spent which it would really be a good indication that you should stop gambling.
before its too late but if you do know that you are really having that good control of yourself when it comes to fund handling then i dont really see any problems with that.
Investment is totally separated on the thing you've been dealing with gambling which those funds shouldnt really be spent on the first place if you are really that too emotional.
Dont play if you do easily snip up those investments whenever you are in a loss.

It's quite rare to see those gamblers that will admit that they're no longer in control. They'll tell that everything's under control despite that they're already totally devastated by their addiction and that's why even their investments, all of it are being spent so it won't matter to them the usage of it whether bitcoin pumps or dumps. But I do recognize that there are gamblers that no doubt are in control of what they do.

It is because of this that the first thing that has to be done when it comes to dealing with an addiction is to recognize the you have an addiction, otherwise there is no way to help that person because they are always going to come up with excuses to justify their behavior and somehow try to make it seem rational, but as you say for the people that are not addicted to gambling their behavior is very telling and we can see that they are not in control regardless of their claims, but unfortunately we cannot do anything to help those people until they are willing to help themselves.

[passwordnow]

That is why we rarely see most gamblers telling us that they're in the right condition or the actual condition of being in control. Because as you observe those that are actually who have lost already, they're the ones that will tell good things about themselves but trying to avoid the conversation that they're no longer okay. They can't control themselves anymore and they're hyper and hyping themselves just for them to put the conversation into other topic and not focusing on them.

Many gamblers try to hide the real conditions of the losses, but we will eventually find out after we observe his awkward and uninspired behavior. But we shouldn't pressure him to question his condition because he's trying to recover from gambling losses, it's better to invite him to relax in a cafe or other place to relieve stress.

It's better to tell the actual situation to know if he needs more emotional help. They tend to hide it but the real thing is that they need help from someone but they are shy to tell it because they will be judged as they thought.

It is because of this that the first thing that has to be done when it comes to dealing with an addiction is to recognize the you have an addiction, otherwise there is no way to help that person because they are always going to come up with excuses to justify their behavior and somehow try to make it seem rational, but as you say for the people that are not addicted to gambling their behavior is very telling and we can see that they are not in control regardless of their claims, but unfortunately we cannot do anything to help those people until they are willing to help themselves.

Yes, they're the only one that has to work on it so that they'll overcome it. The sad situation for these gamblers is that because of their intensive addiction, like looking in the market is no longer important to them even a huge chunk of their bitcoin investment, they're spending it.

[Little_Sister]

It's better to tell the actual situation to know if he needs more emotional help. They tend to hide it but the real thing is that they need help from someone but they are shy to tell it because they will be judged as they thought.

I agree, but the way to never force him to tell his gambling defeat, we can divert the conversation as if we have also experienced a high loss and are willing to accept someone's motivation not to repeat the same thing in the future, so that way is more effective to make he is open to talk about the details of his losses.

[passwordnow]

It's better to tell the actual situation to know if he needs more emotional help. They tend to hide it but the real thing is that they need help from someone but they are shy to tell it because they will be judged as they thought.

I agree, but the way to never force him to tell his gambling defeat, we can divert the conversation as if we have also experienced a high loss and are willing to accept someone's motivation not to repeat the same thing in the future, so that way is more effective to make he is open to talk about the details of his losses.

It will depend on your technique on how good you are as a conversationalist, you can convey topics that you can base on how you talk but not everyone can do it because not all of us can divert the topic into telling others their real struggle, especially in gambling.
There is the type of people that won't be open in telling their struggles so does the impact of the market not just on their own portfolios like bitcoin and as well as gambling.

[l3pox]

You would really be still converting from fiat to btc and btc to fiat and this is where people do really usually do in the end of the day thats why i dont see a point on why making out some argumentation if market dumps do really give out some impact on gamblers.Come to think that they are playing and they are willing to lose money and they wont really be minding on what the market condition would be.

That should be the common approach by most gamblers as in the first place, "gamblers are gamblers" regardless if they are betting using fiat or crypto.

If bitcoin dump has an impact on gamblers, there should be a big concern about that since then as we already experienced lots of bitcoin dump in the process but there's not. Nothing really difference when a gambler converts fiat to bitcoin to be used on crypto-gambling sites.

It's just the same as the usual purpose that most people do when they convert bitcoin to fiat or vice-versa.

on point

that's why I'd love to have a website where we can see gambling volumes on the main casino websites for crypto

think token terminal or defipulse but for gambling

would be quite interesting.

[Lanatsa]

You would really be still converting from fiat to btc and btc to fiat and this is where people do really usually do in the end of the day thats why i dont see a point on why making out some argumentation if market dumps do really give out some impact on gamblers.Come to think that they are playing and they are willing to lose money and they wont really be minding on what the market condition would be.

That should be the common approach by most gamblers as in the first place, "gamblers are gamblers" regardless if they are betting using fiat or crypto.

If bitcoin dump has an impact on gamblers, there should be a big concern about that since then as we already experienced lots of bitcoin dump in the process but there's not. Nothing really difference when a gambler converts fiat to bitcoin to be used on crypto-gambling sites.

It's just the same as the usual purpose that most people do when they convert bitcoin to fiat or vice-versa.

on point

that's why I'd love to have a website where we can see gambling volumes on the main casino websites for crypto

think token terminal or defipulse but for gambling

would be quite interesting.

Wont really be that much relevance if we do talk about gambling platforms if you do compare on market price conditions then it would really be that important but its not necessary for such industry like this.

Impact of market prices wont really be that an issue for most gamblers and as been said this is really just the same when you do make out some conversions from crypto to fiat.
You wont really be minding about these stuffs because you would really be minding on how you should play and how much you would be spending or nothing at all.
Gamblers wont mind about investment and just purely thinking about spending.

[blockman]

This is the right time for the gambling sites to make good profit, because most of the gamblers doesn't change the gambling process. Some might change from usage in terms of USD, whereas the usage in terms of bitcoin still continues. This makes the spending to be high as the price of bitcoin is low. So, from an user perspective he/she losses small and the truth is different.

Yes, that's the perspective of gamblers that don't really look at the current price of bitcoin but will just keep on doing what they've been doing all of this time.
The losses that will be in bitcoin, they'll think that it can also be recovered anyway no matter what happens in the form of bitcoin too so, the dump won't be a big matter to them. Otherwise, we all think the same about how we should act on when the price of bitcoin is lower.

[nullama]

This is the right time for the gambling sites to make good profit, because most of the gamblers doesn't change the gambling process. Some might change from usage in terms of USD, whereas the usage in terms of bitcoin still continues. This makes the spending to be high as the price of bitcoin is low. So, from an user perspective he/she losses small and the truth is different.

If the bets are in Bitcoin, I would guess that more people will bet, because it's cheaper to do so.

But I'm not sure if the casinos would increase their minimum bets if Bitcoin price goes too low.

[X-ray]

This is the right time for the gambling sites to make good profit, because most of the gamblers doesn't change the gambling process. Some might change from usage in terms of USD, whereas the usage in terms of bitcoin still continues. This makes the spending to be high as the price of bitcoin is low. So, from an user perspective he/she losses small and the truth is different.

If the bets are in Bitcoin, I would guess that more people will bet, because it's cheaper to do so.

But I'm not sure if the casinos would increase their minimum bets if Bitcoin price goes too low.

If minimum bet peg with fiat value and then no reason for the site to didn't increase its minimum bet. I meant the site was also trying to update the price of bitcoin anytime. Mostly of sites were using fiat value even though they have been accepting so many crypto.
Another coin was also being so cheap to do so. Let's say when bitcoin goes to the 10k. No choice for the sites if it was using fiat value but if it was calculating based on the bitcoin and then there should not be increase in the minimum bet.

[topman21]

This is the right time for the gambling sites to make good profit, because most of the gamblers doesn't change the gambling process. Some might change from usage in terms of USD, whereas the usage in terms of bitcoin still continues. This makes the spending to be high as the price of bitcoin is low. So, from an user perspective he/she losses small and the truth is different.

If the bets are in Bitcoin, I would guess that more people will bet, because it's cheaper to do so.

But I'm not sure if the casinos would increase their minimum bets if Bitcoin price goes too low.

Of course when Bitcoin gets dumped there will be a bad or other effect for a gambler. Because when a gambler bets with Bitcoin, his bets will definitely be affected by the Bitcoin market dumping. But when a gambler bets with stable coins, the dumping of bitcoins has no effect on his bets.

[romero121]

This is the right time for the gambling sites to make good profit, because most of the gamblers doesn't change the gambling process. Some might change from usage in terms of USD, whereas the usage in terms of bitcoin still continues. This makes the spending to be high as the price of bitcoin is low. So, from an user perspective he/she losses small and the truth is different.

If the bets are in Bitcoin, I would guess that more people will bet, because it's cheaper to do so.

But I'm not sure if the casinos would increase their minimum bets if Bitcoin price goes too low.

Of course when Bitcoin gets dumped there will be a bad or other effect for a gambler. Because when a gambler bets with Bitcoin, his bets will definitely be affected by the Bitcoin market dumping. But when a gambler bets with stable coins, the dumping of bitcoins has no effect on his bets.

Players used to change the betting pattern depending upon the market situation. Today the market have experienced a massive dump in the price.

Does this made any impact over the gamblers?
No, because majority of the gamblers who spend in stable coins will be continuing it whereas the person who spend in terms of bitcoin will be spending low when calculated in terms of USD. Only thing if the gambler cashout his winning there will be impact, until then dump doesn't affect gamblers.

[PawGo]

Of course when Bitcoin gets dumped there will be a bad or other effect for a gambler. Because when a gambler bets with Bitcoin, his bets will definitely be affected by the Bitcoin market dumping. But when a gambler bets with stable coins, the dumping of bitcoins has no effect on his bets.

It may encourage more people to buy BTC if it is needed for betting. In general it might be seen as a good opportunity to buy and start betting. Otherwise, if you had BTC (or other coins) bought in the past, even if you have quite good results (profits), probably it would be still not enough to cover the price change.

[Eternad]

Does this made any impact over the gamblers?
No, because majority of the gamblers who spend in stable coins will be continuing it whereas the person who spend in terms of bitcoin will be spending low when calculated in terms of USD. Only thing if the gambler cashout his winning there will be impact, until then dump doesn't affect gamblers.

The main subject matter here are those gambler using Bitcoin and other altcoins except stablecoins because it’s obviously excluded on this topic. Besides that, Do you have any proof that the majority of gamblers are using stablecoin when gambling?

Most of the whale gamblers really don’t mind if the price is dumping because they are betting in huge amount so a small amount of percentage decrease don’t bother them since they are already exposed on huge profit or lose.

[Solosanz]

It may encourage more people to buy BTC if it is needed for betting. In general it might be seen as a good opportunity to buy and start betting. Otherwise, if you had BTC (or other coins) bought in the past, even if you have quite good results (profits), probably it would be still not enough to cover the price change.

I'm not quite sure about your opinion, I think it will encourage people to hold for long term, not for betting. Most people doesn't really care with the price change, they're calculate their profit based on Bitcoin equivalent, not in USD equivalent. They will confused to count how much they're already wagered and when they should stop, converting to stable coin every day also doesn't worth it.

[PawGo]

It may encourage more people to buy BTC if it is needed for betting. In general it might be seen as a good opportunity to buy and start betting. Otherwise, if you had BTC (or other coins) bought in the past, even if you have quite good results (profits), probably it would be still not enough to cover the price change.

I'm not quite sure about your opinion, I think it will encourage people to hold for long term, not for betting. Most people doesn't really care with the price change, they're calculate their profit based on Bitcoin equivalent, not in USD equivalent. They will confused to count how much they're already wagered and when they should stop, converting to stable coin every day also doesn't worth it.

That's what I wanted to say - they will not sell their BTC to FIAT, even after significant win, because at the end the FIAT amount they get might be disappointing. So maybe it may have exactly the effect you mentioned - more people will hold BTC on their casino accounts. It might be different with stablecoins, but talking about "pure" crypto coins the current price does not encourage selling.

[JeffBrad12]

It may encourage more people to buy BTC if it is needed for betting. In general it might be seen as a good opportunity to buy and start betting. Otherwise, if you had BTC (or other coins) bought in the past, even if you have quite good results (profits), probably it would be still not enough to cover the price change.

I'm not quite sure about your opinion, I think it will encourage people to hold for long term, not for betting. Most people doesn't really care with the price change, they're calculate their profit based on Bitcoin equivalent, not in USD equivalent. They will confused to count how much they're already wagered and when they should stop, converting to stable coin every day also doesn't worth it.

people didn't care anymore about the price of crypto when they wanna play. I meant if they only having intention to hodl their money for long term and why do they need to send it to the site? that sounds a non sense thing. They were calculating it based on the bitcoin but they were also using USD as a way to calculate their assets too. People have two choices calculate it based on the crypto or USD