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Author Topic: I just realized that Bitcoin isn’t the best choice for gambling…  (Read 1179 times)
khiholangkang
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December 08, 2024, 03:13:27 PM
 #161

Maybe for us Bitcoin is too valuable because we also invest in it and see the movement of Bitcoin almost every day, in this cycle from $ 20k to $ 100k yesterday, getting 5x from Bitcoin investment at a very expensive price Bitcoin makes us think that Bitcoin is too valuable.
I consider Bitcoin is too valuable so I want to hold Bitcoin than to be used for playing gambling. Holding can gives me the profit while if I use Bitcoin to playing gambling, that can makes me lose that Bitcoin amount without having a chance to win some Bitcoin. So we must be realize that holding Bitcoin will be more profitable than to be used for playing gambling because we can make a big profit from Bitcoin.
It is a bet, it does not mean you will not get a fixed bitcoin [i the possibility of winning bitcoin very small in gambling depending on your luck in betting, if you get a win, maybe your BTC will increase in number, but if you lose then you will be your BTC.

I consider it not on the amount of Bitcoin we have but because the bitcoin is indeed very valuable both in terms of value and in terms of technology that is a better future door.
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December 09, 2024, 03:32:45 PM
 #162

I think mindset matters more than anything else. Even for me, I know that Bitcoin is very valuable, and I’ve invested in it. But I don’t mind losing Bitcoin in gambling because what I gamble doesn’t come from my investment.

Then you are an addict who has zero knowledge of why Bitcoin is suddenly important for the US or the world. If your gambling expenditure comes from the signature campaign then as a nonaddict you would have filled your stash with your investment. That would have given you more profits which would have doubled or tripled your profit.


Unfortunately, you’re missing my point.   Sad

So you want me just to invest in Bitcoin and not use it for spending? The reality is that even if 90% of the total circulating supply is held by investors, the remaining 10% will still circulate. While the lower supply might push prices higher due to demand, it doesn’t significantly affect transactions, especially when the price is relatively stable.

So, I don’t see anything wrong with using Bitcoin for gambling while also investing in it, as long as I can manage both separately. Let me remind you that adoption is what drives Bitcoin’s value to grow, and the best meaning of adoption Using Bitcoin as Payment , (that's what I do, FYI)  Smiley

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ethereumhunter
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December 10, 2024, 01:43:24 AM
 #163

It is a bet, it does not mean you will not get a fixed bitcoin [i the possibility of winning bitcoin very small in gambling depending on your luck in betting, if you get a win, maybe your BTC will increase in number, but if you lose then you will be your BTC.

I consider it not on the amount of Bitcoin we have but because the bitcoin is indeed very valuable both in terms of value and in terms of technology that is a better future door.
Yes, that is why we need to be careful when we want to spend our Bitcoin. We must know if playing gambling doesn't need to use Bitcoin especially in crypto casino because we have so many coins that we can use to gamble. We even could use stable coins as a bet so we can keep our Bitcoin and waiting for the rise of the price and sell it to stable coins. That will gives us more chances to enjoy the profit from selling our Bitcoin while we can have more capital to playing gambling. But when we use the other coins beside Bitcoin, we must remember controlling ourselves so we don't spends too much amount.
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December 10, 2024, 01:54:07 AM
 #164

It is a bet, it does not mean you will not get a fixed bitcoin [i the possibility of winning bitcoin very small in gambling depending on your luck in betting, if you get a win, maybe your BTC will increase in number, but if you lose then you will be your BTC.

I consider it not on the amount of Bitcoin we have but because the bitcoin is indeed very valuable both in terms of value and in terms of technology that is a better future door.
Yes, that is why we need to be careful when we want to spend our Bitcoin. We must know if playing gambling doesn't need to use Bitcoin especially in crypto casino because we have so many coins that we can use to gamble. We even could use stable coins as a bet so we can keep our Bitcoin and waiting for the rise of the price and sell it to stable coins. That will gives us more chances to enjoy the profit from selling our Bitcoin while we can have more capital to playing gambling. But when we use the other coins beside Bitcoin, we must remember controlling ourselves so we don't spends too much amount.
We will really be that starting to realize things when we have already done it and sees out that Bitcoins price had pumped up but actually there's no issue if you are really just that spending on the amount that you can afford to lose but if you are really that wanting to save up Bitcoin then better use up on other altcoins as well. So it will really be just that common sense on which one you would really be using because if you are really that wanting to have that investment aspect then its never been ideal to spend out your coins but rather i would go for fiat if ever this one or some stable coins. It will really be just that up to you since you are the ones who do make out such decision on what are the things that you would be doing or the acts according into your holdings.

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December 10, 2024, 02:15:09 AM
 #165

Do you invest in the same wallet for gambling? For me, investment assets and wallets for gambling are different, so even though gambling using Bitcoin the price is always changing, the money lost will still be returned if the price returns to normal and we also get profit if the price of Bitcoin continues to soar, but indeed when Bitcoin corrects and at the same time we gamble we will lose some of the money lost but don't forget that the gambling you do sometimes wins and you will get profit.

For example, if you deposit with Bitcoin with a nominal value $100 bitcoin drops and your money becomes $ 80 and you gamble $ 40 and you win $ 10 which becomes $ 50 (winning money + capital) so your total money becomes $ 90 if Bitcoin soars, won't your money also return and get more profit than what you deposited? unless you always experience defeat, but this does depend on the comfort of each if you are worried about losing money due to unstable assets, it is better to use USDT.
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December 10, 2024, 02:20:37 AM
 #166

Do you invest in the same wallet for gambling? For me, investment assets and wallets for gambling are different, so even though gambling using Bitcoin the price is always changing, the money lost will still be returned if the price returns to normal and we also get profit if the price of Bitcoin continues to soar, but indeed when Bitcoin corrects and at the same time we gamble we will lose some of the money lost but don't forget that the gambling you do sometimes wins and you will get profit.
(....)
That is the best question so far, and I can see your point here. We must separate gambling from investment.
My thoughts are that once you deposit your Bitcoin or any kind of cryptocurrency in a gambling platform, think of it as if it's already gambled, and don't think about the value of it anymore because you will risk it or gamble it.

Another is that is really the nature of Bitcoins, like it's one of the use cases of Bitcoin, use it for transactions online and using it on gambling platforms is one of them.

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ethereumhunter
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December 11, 2024, 01:54:04 AM
 #167

We will really be that starting to realize things when we have already done it and sees out that Bitcoins price had pumped up but actually there's no issue if you are really just that spending on the amount that you can afford to lose but if you are really that wanting to save up Bitcoin then better use up on other altcoins as well. So it will really be just that common sense on which one you would really be using because if you are really that wanting to have that investment aspect then its never been ideal to spend out your coins but rather i would go for fiat if ever this one or some stable coins. It will really be just that up to you since you are the ones who do make out such decision on what are the things that you would be doing or the acts according into your holdings.
They need to find out what currency that fit they want. If they followed Bitcoin journey and see that this time Bitcoin can get another pump, they will not use Bitcoin but altcoin to playing gambling. They will not want to risk their Bitcoin to playing gambling because that is not worth while they have altcoin that will be their choice.

As long as that is something that you can afford, you are free to choose any currency you want. But you must understand that playing gambling will not increase your capital easily. Playing gambling can makes you lose all of your fund so be wise to use your funds.
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December 11, 2024, 03:30:27 AM
 #168

It is a bet, it does not mean you will not get a fixed bitcoin [i the possibility of winning bitcoin very small in gambling depending on your luck in betting, if you get a win, maybe your BTC will increase in number, but if you lose then you will be your BTC.

I consider it not on the amount of Bitcoin we have but because the bitcoin is indeed very valuable both in terms of value and in terms of technology that is a better future door.
Yes, that is why we need to be careful when we want to spend our Bitcoin. We must know if playing gambling doesn't need to use Bitcoin especially in crypto casino because we have so many coins that we can use to gamble. We even could use stable coins as a bet so we can keep our Bitcoin and waiting for the rise of the price and sell it to stable coins. That will gives us more chances to enjoy the profit from selling our Bitcoin while we can have more capital to playing gambling. But when we use the other coins beside Bitcoin, we must remember controlling ourselves so we don't spends too much amount.
We will really be that starting to realize things when we have already done it and sees out that Bitcoins price had pumped up but actually there's no issue if you are really just that spending on the amount that you can afford to lose but if you are really that wanting to save up Bitcoin then better use up on other altcoins as well. So it will really be just that common sense on which one you would really be using because if you are really that wanting to have that investment aspect then its never been ideal to spend out your coins but rather i would go for fiat if ever this one or some stable coins. It will really be just that up to you since you are the ones who do make out such decision on what are the things that you would be doing or the acts according into your holdings.

In my opinion it doesn't matter what amount you use to gamble with, it could always be more bitcoin added to the stack and you're losing potential bitcoin invested any way you try to skin this cat. With that stablecoin money it could just as easily be bitcoin and not gambling money. The easiest way to slowly and surely lose your bitcoin is to keep spending spending spending on tiny little transactions. The same way it goes with fiat or any currrency. Spend wisley!

khiholangkang
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December 11, 2024, 03:32:23 PM
 #169

It is a bet, it does not mean you will not get a fixed bitcoin [i the possibility of winning bitcoin very small in gambling depending on your luck in betting, if you get a win, maybe your BTC will increase in number, but if you lose then you will be your BTC.

I consider it not on the amount of Bitcoin we have but because the bitcoin is indeed very valuable both in terms of value and in terms of technology that is a better future door.
Yes, that is why we need to be careful when we want to spend our Bitcoin. We must know if playing gambling doesn't need to use Bitcoin especially in crypto casino because we have so many coins that we can use to gamble. We even could use stable coins as a bet so we can keep our Bitcoin and waiting for the rise of the price and sell it to stable coins. That will gives us more chances to enjoy the profit from selling our Bitcoin while we can have more capital to playing gambling. But when we use the other coins beside Bitcoin, we must remember controlling ourselves so we don't spends too much amount.
If it's a matter of price and how to manage money in my opinion in Altcoin in addition to stable the same even when it is the same bitcoin, you must have a definite form in any coin in gambling to be a benchmark for you gambling, then price fluctuations in Altcoin are also the same. Get more stable coins if you sell your altcoin at an expensive price, isn't that the same as you keep it in Bitcoin?

The point is that Bitcoin is used as a betting tool or not depends on each preference, if you think you are valuable then use another coin to gamble at Crypto Casino as your comfort for gambling.
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December 11, 2024, 03:53:00 PM
 #170

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

I prefer USDT for gambling, and Bitcoin for investing. Because I deposit Bitcoin which helps me deposit more Bitcoin in the future, I deposit Bitcoin with the remaining money I earn excluding expenses, this time I follow the DCA method. Perhaps I use USDT the most among the coins I like to bet with, because I have to play a few bets after a long time, casino and sportbet.
In all these places USDT is the most important because the money I deposit remains the same so it is the most convenient for betting, so I do not regret it but I move myself towards success by depositing Bitcoin.

There is no doubt that dollars are more convenient for betting because their price does not change and it is easier to control your income or losses. There are quite a lot of players who play on Bitcoin because they want to increase it because it is a valuable asset, not everyone knows how to trade, but quite a lot of people play. Deeply gambling people do not care what to play for, be it Bitcoin or dollars.

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December 11, 2024, 04:16:04 PM
 #171

^

I think that it is not about the excitement of the gambler, but about the wealth of the gambler, as the commission in the Bitcoin network is much higher than in other networks. I try not to gamble using Bitcoin, because I do not see the point of overpaying for the commission. In my opinion, it is much easier to exchange Bitcoin for one of the alternative cryptocurrencies or steiblcoins that accepts gambling site and deposit the funds received. After winning a big win you can withdraw them and buy Bitcoin to multiply your funds in the long run.
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December 11, 2024, 04:27:12 PM
 #172

It is a bet, it does not mean you will not get a fixed bitcoin [i the possibility of winning bitcoin very small in gambling depending on your luck in betting, if you get a win, maybe your BTC will increase in number, but if you lose then you will be your BTC.

I consider it not on the amount of Bitcoin we have but because the bitcoin is indeed very valuable both in terms of value and in terms of technology that is a better future door.
Yes, that is why we need to be careful when we want to spend our Bitcoin. We must know if playing gambling doesn't need to use Bitcoin especially in crypto casino because we have so many coins that we can use to gamble. We even could use stable coins as a bet so we can keep our Bitcoin and waiting for the rise of the price and sell it to stable coins. That will gives us more chances to enjoy the profit from selling our Bitcoin while we can have more capital to playing gambling. But when we use the other coins beside Bitcoin, we must remember controlling ourselves so we don't spends too much amount.
In as much as bitcoin could be a good option for gambling, but it’s not the perfect choice in my opinion. Aside that its value appreciates in the next months and years, and so it means a higher chances for our fast financial stability. Which literally means that it should never be wasted in gambling where profits is never guaranteed.

We can always gamble with fiat and other stable coins as their value are fixed, except for bitcoin where its investment potentials consistently elevate, so it needs to be kept and hold longer.

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December 11, 2024, 06:16:32 PM
 #173

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

At first why will one think of using his bitcoin for gambling, especially in this bullrun season and the funny thing is that some folks have lose some nice amounts of bitcoin due to gambling losses , and then bitcoin value wasn't as high as it is now . Just imagine, I remember when I lose some amount of BnB in casino games and then bitcoin was around $100 range , and now look out the price of BnB am now regretting my actions each day , but still it worth learning from. Though.

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December 11, 2024, 07:46:46 PM
 #174

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

At first why will one think of using his bitcoin for gambling, especially in this bullrun season and the funny thing is that some folks have lose some nice amounts of bitcoin due to gambling losses , and then bitcoin value wasn't as high as it is now . Just imagine, I remember when I lose some amount of BnB in casino games and then bitcoin was around $100 range , and now look out the price of BnB am now regretting my actions each day , but still it worth learning from. Though.
Some persons has excessive Bitcoin with less stable and they could see it as a normal way of betting. The problem is that the price could drop or increase at any point in time and we should be prepared for that. Many gamblers  than gamble with normal bankroll that is not that huge will always see it as a waste of funds especially now that we are in gbe bull market. The market will always move to any direction and we should be prepared for what the outcome will be whether we are fans of gambling with Bitcoin or not. We all have different crypto portfolio and some people still find it to be a normal lifestyle gambling with Bitcoin.
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December 11, 2024, 09:45:27 PM
 #175

I don't care what coin I bet on, because when I gamble I don't care about the price going up or down, I'm more careful about the transaction costs when using crypto currency, I prefer low costs
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December 11, 2024, 10:00:25 PM
 #176

The reason why people lose sports gambling is that they are betting lines 1.90 rather than a book with 1.94 or 1.95. Losing money is because of the juice, not the type of currency used.
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December 11, 2024, 11:58:25 PM
 #177

Everyone used to realise lately. Looking upon the growth bitcoin have reached in terms of value, usage and adoption many people think that they have wasted big money. I've this thought and it is always good to spend in terms of stable coins. Maybe if I calculate what I've spend in terms of bitcoin it is very big. In the past I've wagered with 0.1BTC and now if I think the value it is huge and myself getting surprised that I've played with such a big money when converted to my fiat value.

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December 12, 2024, 12:57:00 AM
 #178

Can you guys relate?

Imagine at times like this when the market is in the bull and you have to our btc deposited on a casino account so your can play. If I recall correctly, these casinos after you deposit your coins, they give it to you in a dollar equivalent, so even when the market is pumping or bullish, uir coins remains same and not move at the pace of gbe market price. this is more reason why it's better to just deposit a stable coin instead and let your btc for the bull runs. I personally don't advice using Bitcoin to gamble.

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ethereumhunter
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December 12, 2024, 01:29:23 AM
 #179

If it's a matter of price and how to manage money in my opinion in Altcoin in addition to stable the same even when it is the same bitcoin, you must have a definite form in any coin in gambling to be a benchmark for you gambling, then price fluctuations in Altcoin are also the same. Get more stable coins if you sell your altcoin at an expensive price, isn't that the same as you keep it in Bitcoin?

The point is that Bitcoin is used as a betting tool or not depends on each preference, if you think you are valuable then use another coin to gamble at Crypto Casino as your comfort for gambling.
But with so many altcoin in the market, you may difficult to select which coin you want to save for the next altcoin season because that will need research to find the altcoin. That will be different if you select Bitcoin where Bitcoin will increase in the right time.

Whether you want to use Bitcoin or altcoin, you will select by yourself based on you comfortably to playing gambling. But if you think that your coins is more valuable, Bitcoin and altcoin, you don't have to playing gambling and just save the coin you have.

In as much as bitcoin could be a good option for gambling, but it’s not the perfect choice in my opinion. Aside that its value appreciates in the next months and years, and so it means a higher chances for our fast financial stability. Which literally means that it should never be wasted in gambling where profits is never guaranteed.

We can always gamble with fiat and other stable coins as their value are fixed, except for bitcoin where its investment potentials consistently elevate, so it needs to be kept and hold longer.
Yeah, with the big chances of the increases, Bitcoin will be worth if we can keep it and waiting for the next rises. We are lucky playing gambling in the crypto casino where the casino gives us many options of the coins that we can select to playing gambling. We can choose other coins that we feels comfortable so we can keep our Bitcoin and accumulate more.

Gamble with fiat or stable coins will be suggested but that will depends on each personal. We can let people choose Bitcoin to playing gambling while we can hodl our Bitcoin.
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December 12, 2024, 02:52:44 AM
 #180

I don't care what coin I bet on, because when I gamble I don't care about the price going up or down, I'm more careful about the transaction costs when using crypto currency, I prefer low costs
Some gamblers have the same perception regarding all of this, they will prioritize cheap and faster transaction costs, but still have to pay attention to what type of coin you are using because if the coin has price that can possibly experience very significant decrease then you will also definitely get loss with the decrease in the value of the currency in your gambling site account bankroll.
Comfortable and friendly option in my opinion is still USDT as the main alternative and there is no need to worry about price drops or transaction costs because USDT has fairly low cost with fast network too.
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