If Not for Gambling, Would We All Be Richer in Bitcoin Today?

[Russlenat]

On this topic, We gamblers are actually one of the biggest reasons why Bitcoin took off. If we agree on that, have you ever thought that maybe we shouldn't have been the main reason? Because gambling made us spend our Bitcoin, and most of the time we lose money when we gamble. If gambling hadn’t been that popular back then, maybe we would’ve just held onto our Bitcoin and could be sitting on a small fortune today.

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

[Merit.s]

The answer is yes but at the same time we all enjoyed the fun in one way or the other. Using an amount of money that you can afford to lose shouldn't be what you should count as a loss, because you would have used the money for something else, since you wanted to spend it back days.

One thing that you should know is that, gambling has been there before you came to the world. People will continue gambling after we have passed on, that's gambling existed before bitcoin. As long as you are a gambler, you will be open to gamble with whatever currency that you have at that moment. Some of us here are still gambling with bitcoin even though, we know that it's a long-term asset. If you don't have any fiat on you but only crypto, you can use the equavilents amount of fiat in bitcoin to gamble.

[TopTort777]

Then its right to say that if we would be doing nothing with our crypto, we would be much richer today OP has lost Bitcoin in gambling, but imagine how much we have lost in making Bitcoin transactions That not 1 Bitcoin, but with current price, its thousands spent just by moving our money here and there

To bad statistics on casinos does not show amount deposited/withdrawn during whole time. However, I dont recall to be in huge losses gambling with crypto. Instead, if I try to recall all the bonuses, free bets or spin, rewards I've got, it might be that I am in profit.

[aylabadia05]

Yes. I think so, based on the title.

If you choose to gamble without using Bitcoin or using stablecoins, it probably won't happen. Of course, if I understand the op's point well.
We know that gambling is an action we take with the intention of losing, so gambling without using Bitcoin is an effort to preserve our Bitcoin.
Personally, I find it very difficult to use Bitcoin for gambling.

[Apocollapse]

I think I spent less than 0.05 Bitcoin, so it won't hurt me because it's just around $5.7K, yeah it's a good sum, but not something that make me think the amount can change my life.

If people are regret for not investing in Bitcoin when Bitcoin was worthless back then, I think people who know Bitcoin when it's already expensive ($20K+) should think positively, they won't regret because even they invest when Bitcoin price was $20K, it doesn't give much profit. The new generations will learn about discipline and consistently to invest in Bitcoin, not something like a magic can change someone else life.

[Ziskinberg]

But if gambling wasn’t introduced back then, Bitcoin might not have reached this level yet. You might not even be rich by now. I believe Bitcoin would’ve still succeeded eventually, but maybe with a big delay. so it’s better to just move on and stop dwelling on the past. even if you lost, I’m sure you enjoyed gambling at the time.

The thing is, if we keep thinking of all the “what ifs,” it just makes it harder to move on because we’re stuck replaying our mistakes. Nobody knew the future back then, so it was normal for most of us to spend Bitcoin, either because we weren’t fully convinced it would grow this big or because we simply needed the money for something else.

It’s like saying, *what if I didn’t go to college, I could’ve saved that money*, or worse, *what if I didn’t buy food, I could’ve saved that money too...
Some things just aren’t worth overthinking.

[Don Pedro Dinero]

If gambling hadn’t been that popular back then, maybe we would’ve just held onto our Bitcoin and could be sitting on a small fortune today.

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

Well, yes, what happens is that when we imagine what would have happened if what happened were different, we tend to imagine only one story, when the reality is that if it were different, the story could have had multiple outcomes, infinite actually. If you had not wagered and lost them, perhaps you would have sold them at a loss in the face of a bear market. Or maybe if everyone had done the same, bitcoin would not have become as important as it is today.

Not to mention imagining other situations derived from that change of the course of your actions that might have lead to you for example been hit by a truck years ago. So as of today apart from being dead, those bitcoins would have been lost.

[Kelward]

The value of Bitcoin wasn't much then so if you didn't spend it on gambling you would've probably spent it on something else like pizza or a bottle of beer where it's accepted. People gamble with Bitcoin today perhaps they'll regret that they wasted their money on it when Bitcoin reaches $1million. We should enjoy what we can afford at anytime, if you want to use part of your Bitcoin to have fun in gambling I think that it's your choice and you shouldn't regret it. Gamble with amount that you can afford to loose whether it's Bitcoin or fiat.

[Hewlet]

the industry is intertwined with gambling platform being one of the most receptive industry when it comes to allowing the use of bitcoin on their platform and even promoting their platform on the forum.  in what will look like a reverse statement, gambling has made some bitcoin enthusiast more richer and has equally taken from some others. even on the forum, we have a lot of active gamblers that are still spending their bitcoin through gambling and some that are also earning through gambling and are not even gambling. it is a circle that gives some users a win while others lose from same circle.

[Russlenat]

It’s like saying, *what if I didn’t go to college, I could’ve saved that money*, or worse, *what if I didn’t buy food, I could’ve saved that money too...
Some things just aren’t worth overthinking.

I think this one’s different because it’s a necessity, while gambling isn’t., it’s just entertainment. We can live and survive just fine without gambling.

It’s always like this, we look back and regret things because we were too weak to stop ourselves from giving in to temptation.
And if I had to guess, some of you were probably posting “HODL” back then, but in real life, we weren’t really doing it.

[tabas]

It's the same story for the most of us, we've lost significant amount of Bitcoin back then If it's not with gambling then it's with something else like we've spent it for something that's unimportant before because we would have never thought that it's going to be as big as it is right now. I miss those days when I've saved so much but spent a lot as well. So, that hard work on the early days were regretful because we have to spend it in these things. But past is past and we have to move, as long as we're still alive and there are still ways of accumulating more, it will be just part of our lives that we have lived before and have taught us on how to be a better keeper.

[swogerino]

On this topic, We gamblers are actually one of the biggest reasons why Bitcoin took off. If we agree on that, have you ever thought that maybe we shouldn't have been the main reason? Because gambling made us spend our Bitcoin, and most of the time we lose money when we gamble. If gambling hadn’t been that popular back then, maybe we would’ve just held onto our Bitcoin and could be sitting on a small fortune today.

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

I also spent more than 4 Bitcoins when in 2014 it was 300-600 dollars at that time but now I don't regret doing it as at that time very few persons believed Bitcoin would ever reach a price more than 100.000 dollars for one. If I knew this and no one knows the future I would not have gambled those 4 Bitcoins which was the maximum I ever had in my life. Now it is impossible for me to get 4 Bitcoins but damn how rich I would be if I had not gambled and kept those precious 4 Bitcoins now, a whopping 500.000 dollars under my possession and my life would definitely be much better. No point in looking back in the past though as it means nothing for the future.

[Taskford]

On this topic, We gamblers are actually one of the biggest reasons why Bitcoin took off. If we agree on that, have you ever thought that maybe we shouldn't have been the main reason? Because gambling made us spend our Bitcoin, and most of the time we lose money when we gamble. If gambling hadn’t been that popular back then, maybe we would’ve just held onto our Bitcoin and could be sitting on a small fortune today.

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

Possibly if we engage for long time on Bitcoin and crypto betting since if we count our overall losses we provably could see some big figures out there.

But this is part of the activities we've done for many years and don't try to have any regrets for spending your Bitcoins. Since first we don't know what's going to happen in future then also that's our choice and for sure we enjoy those moments we spend it on gambling.

If you want to do more better decision I guess its better to lower down your gambling budget and start to HODL bitcoin now.

[irhact]

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

I don't think you would had still had that money upto this day, the amount you spent then wasn't a big amount therefore you could have used it to do something else if it isn't gambling. We all blaming gambling for taking our Bitcoin but forgetting that we're the ones that made the decision to gamble and if we had gotten a good return, we'll be richer than how we're today. It isn't easy to hold something that we don't have a guarantee that it'll grow in future. Many of us didn't believe in Bitcoin and for those that did, they didn't believe Bitcoin will get this high therefore they were okay spending the Bitcoin they own.

[traderethereum]

You can see the temptation to gamble is big. That makes it difficult for us to realize if we are just wasting our Bitcoin in the past on gambling. We are tempted to increase our Bitcoin amount and still play gambling while we forget that gambling will not always give us a win. We may have lost many Bitcoins in the past which we could have kept until now and sold it at a high price.

But everything is passed and no need to regret. We can start accumulating Bitcoin while we still have time. We should consider that we made a mistake in the past and we will not make the same mistake again. I don't know how many Bitcoins I wasted in the past but that should be big. Regret will come to the last.

[Cityhunter34]

That is exactly the main reason why they always said that we should only gamble with the amount we can afford to lose because gambling is not something to rely on heavily since luck have the besic role in determining the final outcome.

However, I think is quite good for us to always let go of our past losses and move on with the way it will not affect us The future. Because already gambling is highly involved in losses than winnings so the best way to overcome frequent losses is by viewing it as an entertainment or having fun because there is no guarantee of winnings in gambling.

[BitGoba]

On this topic, We gamblers are actually one of the biggest reasons why Bitcoin took off. If we agree on that, have you ever thought that maybe we shouldn't have been the main reason? Because gambling made us spend our Bitcoin, and most of the time we lose money when we gamble. If gambling hadn’t been that popular back then, maybe we would’ve just held onto our Bitcoin and could be sitting on a small fortune today.

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

Bitter truth. Many of us spent BTC on gambling, small purchases, or silly things, simply because we knew nothing about money , and we didn’t understand what Bitcoin really was or how big of an invention it actually is. I first came into contact with Bitcoin in 2017, but for many years I didn’t understand any of it. It wasn’t until 2021 or 2022 that some friends recommended the books The Bitcoin Standard and Broken Money by Lyn Alden. That’s when it finally clicked for me. I told myself: 'Wow, how stupid I was. How did I not see this earlier? And there were people who understood it all early and tried to explain it, but I just couldn’t grasp it back then.If I had held on to all the BTC I ever had and kept accumulating, I could have been a billionaire But it's still not too late. We should keep accumulating, because most people still have no idea what Bitcoin really is.

[Charles-Tim]

For example, in my case, IIRC, I lost more than 1 BTC back in the early days, maybe even 5. If I had those 5 BTC now, and gambling wasn’t that popular back then so I wasn’t tempted to spend them, that money today could’ve been worth around half a million dollars. That’s a huge amount that could’ve made life a lot more comfortable.

So far you gamble with the bitcoin, it is also possible that you would have spent the bitcoin on other things. I gamble with very small amount of money which makes me post something like this.

Only people that will be affected are people that have problem gambling like chronic gambling addiction.

[Japinat]

So far you gamble with the bitcoin, it is also possible that you would have spent the bitcoin on other things. I gamble with very small amount of money which makes me post something like this.

Only people that will be affected are people that have problem gambling like chronic gambling addiction.

For me, if there was no gambling back then, I probably wouldn’t have spent my Bitcoin much, since there weren’t many other ways to spend it. maybe, you could buy some stuff or digital subscriptions, but you could do that with fiat too. Gambling was just the easiest option, no KYC, quick and simple.

Aside from gambling, the only thing worse was those so-called “investment games,” which were basically ponzi schemes. They were super popular back in the day, first in, first out if you wanted to make money. But in the end, they were still scams, and personally, I lost money in different investment schemes like that too.

[vanesha]

No, because we don't know what will happen in the future, who would have thought that the price of Bitcoin could be as high as it is now, even if you used to have quite a lot of Bitcoin, I'm sure you would withdraw it for your needs, unless you stored Bitcoin in a lost wallet and you found it today.