Back then, people gambled whole Bitcoins - imagine the value today

[Cointxz]

...So for discussion purposes,
 Do you think the players back then had no idea about the future value, or they just didn’t care?

What do you think? I remember gambling BTC when it was worth around thousand dollars, had I knew back then what BTC is going to be worth in future (i.e, what it is worth now), my hands would shiver before placing the bet.

Same here, I remember my bankroll back then is above 10BTC while my minimum bet that time is 0.001BTC then I martingale it until I bet a whole Bitcoin and above.

I reach high level on Bitsler back then with a huge faucet claim per hour due to my wager until Bitcoin pump hard above 1K then it continuously rising to 5K, 10K and 20K that makes me already realized how valuable Bitcoin to be gamble.

[cryptomaniac_xxx]

Do you think the players back then had no idea about the future value, or they just didn’t care?

It's very obvious mate that those early gamblers didn't know that the value will go thousands fold and they don't care about it. And that is why we said that gambling is the first use case of Bitcoin because of this.

And we it followed with giveaways and captcha solving that  give from 50 to hundreds of even thousands of Bitcoin.

But that is the our rich history, it's good to see and look back at this kind of stories. Maybe we can just laugh it right now or those who are involved early might regret it. However, no one really knows what the future hold and so we just move on with that and then just save as much Bitcoin as we can.

[Mahanton]

Do you think the players back then had no idea about the future value, or they just didn’t care?

It's very obvious mate that those early gamblers didn't know that the value will go thousands fold and they don't care about it. And that is why we said that gambling is the first use case of Bitcoin because of this.

And we it followed with giveaways and captcha solving that  give from 50 to hundreds of even thousands of Bitcoin.

But that is the our rich history, it's good to see and look back at this kind of stories. Maybe we can just laugh it right now or those who are involved early might regret it. However, no one really knows what the future hold and so we just move on with that and then just save as much Bitcoin as we can.

Most of the players and users back then had no real clue about the potential future value of bitcoin at that time bitcoin was not widely recognized as an investment but more like a digital token you could use to play around with gamble with or experiment on new tech ideas people were more excited about the innovation of peer to peer money than about how rich it could make them. If they had any serious foresight about it reaching the kind of prices we see today they probably would not have been so casual in giving it away through faucets using it for small bets or even losing it on simple websites for most it was just an online novelty something they could earn easily and spend just as easily so they didn’t care much about long term value.

This is also why gambling is considered one of the very first use cases for bitcoin it provided a real way to transact instantly without banks and that gave it purpose even before investors came in later giveaways captcha solving and faucets that handed out thousands of bitcoin now look insane in hindsight but back then it was nothing unusual because nobody could predict that one coin would be worth tens of thousands of dollars. Today these stories serve as both history and a lesson we can laugh about how much was “wasted” or feel regret about missed opportunities but ultimately no one really knows what the future holds the best approach is not to dwell on the past but to learn from it and to treat the present seriously we may be living in another moment people will look back on years from now wishing they had accumulated more bitcoin when it still felt accessible.

[bitLeap]

Do you think the players back then had no idea about the future value, or they just didn’t care?

It's not don't care, but if keep thinking about its current value, they will stress out and continue to regret their decision to gamble with bitcoin in the past. Back then, the price of bitcoin was not what it is today, so it's better to just forget about it. I'm sure no gambler was thinking about the future price of bitcoin at the time, they gambled because they wanted to do it for entertainment (including me). I forgot and don't know how many bitcoin were bet in the past.

[len01]

So for discussion purposes,
 Do you think the players back then had no idea about the future value, or they just didn’t care?

I remember back in the day, getting BTC was super easy from faucets. Some gambling sites even gave out free faucet claims, like 1-5 BTC every time. Most people betting with BTC never thought it’d get this expensive or have such a bright future. They just wanted to grab free BTC and double it by betting. So no one really regrets losing a few hundred or even thousands of BTC back then. But if those folks are still hanging around this forum, I bet they’d feel some serious regret now checking their old wallet histories.

[Dr.Bitcoin_Strange]

Many of them that gambled then never imagined Bitcoin to get to this point, they all thought it would die a natural death because the give is always putting pressure on clamping down on Bitcoin the hard way so I believe with that mindset, they thought the best way to layoff their Bitcoin Is to catch fun with it so they don't lose out.

That's absolutely true, many of them really thought that Bitcoin will just die off without them using it to benefit anything and since it was beneficial in using it for gambling, they started gambling with it and having fun. Many of them will regret it today if they look at their old wallet to see the value of Bitcoin they have spent for fun showing a great value in negative.

[Nwada001]

Lots of early gamblers in Bitcoin maybe don't know the value of BTC in the future. They felt it was a cheap, an internet money to experiment on, as a result betting with full coins was a normal thing. Though some may have thought of the future growth, yet the tradition was more of fun, risk, and checking out the new technology rather than long-term holding. Briefly: they were not really careless, but they didn't think of the possible growth it could have later

They might not know, or probably they were not just thinking about the future then; instead, they were all focused on the fun and the present value attached to it back then, which is what they will be calculating and rating their bet on and not how we are looking at the number of Bitcoin they spent on gambling. Bitcoin was very cheap then and easy to earn, not like what we have now.

[leonair]

Those who gambled with their Bitcoin holdings in the past are now regretting those things. But those who chose Bitcoin currency to make a deposit and bought Bitcoin with their money and deposited it for gambling do not regret it because they used their money for gambling and not Bitcoin. But I don't think all those people who love holding Bitcoin have gambled with their Bitcoin holdings.

Because those who think about holding never use their holdings for anything else. Especially Bitcoin holders will never use their Bitcoins for gambling. So I can't imagine what the value of Bitcoins to those who used them for gambling is today. Because they don't think about Bitcoin, they think about their stablecoin.

[ghan7300]

Back in college, we used to gamble some.217 Bitcoins for fun. We didn’t know how valuable it would become.
I even used my girlfriend’s Bet365 account to place bets
Looking back, it feels crazy — Bitcoin is worth so much now.

Now, I want to do something smarter with Bitcoin instead of just betting it away.

[M47AK16]

On May 22, 2010 - Laszlo Hanyecz spent 10,000 bitcoin on 2 pizzas, imagine the price now?
At that time, Laszlo used his bitcoin as a medium of exchange ^{[money or means of payment]} without considering the potential price in 2025, as it is today. So where are the similarities between Laszlo and the gamblers who use bitcoin?

Maybe he knows that BTC had some potential because why he engaged on it at the first place? And maybe he is only using BTC for its original purpose which is a medium of exchange. Laszlo brings a good contribution on Bitcoin, so I don't know on why some people are still harsh about him. On to your last question, I won't say similarity but rather say difference. The only difference is that Laszlo is not a gambler.

I think that nobody knew that Bitcoin was going to have the price it has today from the beginning, that's why they spent it like that, since people had hope in the project, but I think that the expectations at that time were far exceeded. I don't think that anyone at that time would have believed that Bitcoin would cost more than 100k.

In fact, I already saw some insane predictions before for Bitcoin. Maybe some can be trippy only but there may also be some that mean it and actually sold on their target price or are continuously holding even up to this date. Another reason on why they can spend too much of Bitcoin before, is because the value of one Bitcoin before is only tiny.

[Ronsbit]

Many of them that gambled then never imagined Bitcoin to get to this point, they all thought it would die a natural death because the give is always putting pressure on clamping down on Bitcoin the hard way so I believe with that mindset, they thought the best way to layoff their Bitcoin Is to catch fun with it so they don't lose out.

That's absolutely true, many of them really thought that Bitcoin will just die off without them using it to benefit anything and since it was beneficial in using it for gambling, they started gambling with it and having fun. Many of them will regret it today if they look at their old wallet to see the value of Bitcoin they have spent for fun showing a great value in negative.

Yes that's true, many of them would regret their actions then as they never trusted the system and followed the process to see the end of it. Many reckless and careless mistakes are now resulting to regrets. This is why it is good to always have an atom of patience in you to always trust a process and to also see it to the end what it offers.
I know there are lots of wallets which held huge volume of Bitcoin early years of Bitcoin inception but they never trusted the process but were in a haste to do away with it because of the government troubles and today I believe they would be looking at those wallets in regret and wishing they never used all of them.

[Lucius]

~snip~
So for discussion purposes,
 Do you think the players back then had no idea about the future value, or they just didn’t care?

The players just played as they do today regardless of the price of BTC. Many of us used BTC as currency when it was only worth a few hundred $ and there's no point in regretting it today, because the thing is, there's no point in keeping it forever. If the players thought like that, then today nobody would use BTC on gambling sites, because in 15 years the price of 1 BTC will be maybe 10 times higher.

[Ziskinberg]

because in 15 years the price of 1 BTC will be maybe 10 times higher.

For me, I wouldn’t really regret it if that’s the only increase it reaches. It’s nothing compared to the past, like when Bitcoin was just $1 and now it’s $125k, that’s a crazy multiplier. You can’t really compare what happened before to what will happen in the future.

And honestly, regret isn’t necessary because it just makes us stuck on past mistakes. What matters is we still have more opportunities ahead. Maybe Bitcoin won’t give that same massive profit anymore, but who knows, there are altcoins now that are worth less than a dollar and might hit $1k someday.

[ejikeme24]

It's very obvious mate that those early gamblers didn't know that the value will go thousands fold and they don't care about it. And that is why we said that gambling is the first use case of Bitcoin because of this.

Sure we don't really have to blame those that gambled with thier bitcoin as at then because they never imagined the price going this far, the truth is Alot of folks was mistaken bitcoin for meme some shitcoin which is why they were moved to use thier bitcoin to do whatever. I could imagine the feeling when you don't know the future potential of a coin you will just see it very common, not until you sold it and then come back the following year and see that there are Alot of changes in the coin then you will start regretting why you sold it earlier. and yeah, this mistake is very common among people, I believe those who are victim of this would learn thier lessons.

[Princess Leah]

because in 15 years the price of 1 BTC will be maybe 10 times higher.

For me, I wouldn’t really regret it if that’s the only increase it reaches. It’s nothing compared to the past, like when Bitcoin was just $1 and now it’s $125k, that’s a crazy multiplier. You can’t really compare what happened before to what will happen in the future.

And honestly, regret isn’t necessary because it just makes us stuck on past mistakes. What matters is we still have more opportunities ahead. Maybe Bitcoin won’t give that same massive profit anymore, but who knows, there are altcoins now that are worth less than a dollar and might hit $1k someday.

If most people could predict the future when Bitcoin was $1 or even $100 I don't think it would've been used for gambling cause nobody would've want to lose an asset they know would grow from $1 to $125k the risk is too much, maybe only high risk takers with lots of Bitcoin would've risked gambling with some portions of it back then.

 Anyways the deed has been done and those who lost their Bitcoin to the bookies need not to regret but look for more ways to increase their discretionary and invest more money in Bitcoin cause the price could be more than what it is currently in the next 15 years.

[Rockstarguy]

Back then, gambling sites didn’t use decimals or sats, it was whole Bitcoin bets.
The value wasn’t as “precise” as today, people threw around BTC the way we throw around a few bucks now.
Now that Bitcoin has grown so much, gambling in full BTC is almost unthinkable. Everything is already calculated in fractions (mBTC, sats).

Then most people never believed Bitcoin would come this far, and they spent money on many things that, if they had invested in Bitcoin, would have yielded huge returns for them by now. Another thing is that it is not as if those who gambled with 1 BTC were careless when it came to money.

The value of Bitcoin was very low back then, and I'm sure the value of Bitcoin is an amount that most people can afford to gamble with. But there is a lot to learn from those who gambled with 1 BTC then. As a gambler, don't put all your focus on gambling; as you gamble, also remember to invest because there is a future to live in after all the interest in gambling might have gone.

[Lucius]

because in 15 years the price of 1 BTC will be maybe 10 times higher.

For me, I wouldn’t really regret it if that’s the only increase it reaches. It’s nothing compared to the past, like when Bitcoin was just $1 and now it’s $125k, that’s a crazy multiplier. You can’t really compare what happened before to what will happen in the future.
~snip~

The days when the price could increase xx times in just one year are far behind us and this is one reality that people should accept. In fact, when it comes to crying over spilled milk, I have no doubt that there will always be those who will cry because today they bought something and paid with BTC, or gambled with it instead of keeping it.

However, I think that today there are many more who want to take their profit after years of waiting for the price to reach $100k or more, and therefore there are also those who are happy to gamble with their coins because it is easier, more comfortable and they feel in control. Anyone who has ever used BTC as currency knows it feels good.

[DaNNy001]

Back then, gambling sites didn’t use decimals or sats, it was whole Bitcoin bets.
The value wasn’t as “precise” as today, people threw around BTC the way we throw around a few bucks now.
Now that Bitcoin has grown so much, gambling in full BTC is almost unthinkable. Everything is already calculated in fractions (mBTC, sats).

Then most people never believed Bitcoin would come this far, and they spent money on many things that, if they had invested in Bitcoin, would have yielded huge returns for them by now. Another thing is that it is not as if those who gambled with 1 BTC were careless when it came to money.

The value of Bitcoin was very low back then, and I'm sure the value of Bitcoin is an amount that most people can afford to gamble with. But there is a lot to learn from those who gambled with 1 BTC then. As a gambler, don't put all your focus on gambling; as you gamble, also remember to invest because there is a future to live in after all the interest in gambling might have gone.

That's a good point you made there about investments...it's true that most of them that misused their Bitcoin on gambling didn't know it would get to such a high amount but it didnt stop from saving whatever they know has potential for them to get something in the future ..even presently with the value of bitcoin and some altcoins some gamblers still use them to gamble forgetting about their future

[$weetne$$]

Do you think the players back then had no idea about the future value, or they just didn’t care?

It's not don't care, but if keep thinking about its current value, they will stress out and continue to regret their decision to gamble with bitcoin in the past. Back then, the price of bitcoin was not what it is today, so it's better to just forget about it. I'm sure no gambler was thinking about the future price of bitcoin at the time, they gambled because they wanted to do it for entertainment (including me). I forgot and don't know how many bitcoin were bet in the past.

I do not see any reason to even sit back and think of the price of bitcoin from then till now and have to regret about using it to gamble because if we are been true enough here, the chances that these persons would have held their coins from that time till this day is so slim that it is almost impossible, they would have spent it on something else or would have sold it when Bitcoin did got some few thousand dollars, so either ways they would have lost it only that in the later case they would have used it to achieve a very tangible something for themselves.

[Die_empty]

I do not see any reason to even sit back and think of the price of bitcoin from then till now and have to regret about using it to gamble because if we are been true enough here, the chances that these persons would have held their coins from that time till this day is so slim that it is almost impossible, they would have spent it on something else or would have sold it when Bitcoin did got some few thousand dollars, so either ways they would have lost it only that in the later case they would have used it to achieve a very tangible something for themselves.

It might amaze some people that gold was also used for gambling a long time ago. Since antiquity, in some civilisations, gold has been used for betting on different games such as wrestling, hunting,.etc. The reason for that was that gold was available to almost everyone and the value was not high. This was also what happened to Bitcoin at the beginning. It was easy to have access to hundreds or thousands of Bitcoin, and many people felt it was good for gambling. 

I don't blame them either because nobody can predict the future. Some people kept their not because they knew Bitcoin would rise, they were just fortunate to keep hodling.