Does the market influence your bet?

[Zigabel]

Actually there are many people who loves using Bitcoin to gamble while there are others who do use other altcoins to gamble. I want to know in a situation like this where the market is extremely low, or has loose a lot percentage. Do you still care to use Bitcoin to gamble or you wouldn't use Bitcoin anymore due how much percentage of you have lost and probably when using BTC you are also attributing to your lost or you don't care about how low the price of Bitcoin could be while using it to gamble, and Or do you prefer switching to altcoin like stable coin or TRX just to make sure you secure your holdings?

With gambling I think  you will be able  to make up for the gap of the price fall when yowin, your challenge will come mostly  when you loose, that is when youbare very likely going to be at a very disadvantaged position, only that if price crashes after the  win, you will gwt a direct feel of the effect of the price fall on your winning  as the expected valuation of the price of Bitcoin will drop and make you withdraw less that you had anticipated from the win. So price can actually  affect your bet if you give much consideration to it but if you are looking at just a day and not to allow the effect of volatility hit you, you may want to go for the likes of USDT and USDC.

[Kelward]

If your income is in Bitcoin it wouldn't matter if price is in dip because it's the value of your income in dollar that you're going to receive so I would say that it is safe to gamble with Bitcoin in such situations. But if it's Bitcoin that you bought when the price was high and it dip it can be considered as a lose for you to gamble with because the value in dollar has reduced. Bitcoin is best spent when you're in profit or atleast at a stable price because they value is either intact or increased. For me it's better to use stablecoins so you won't worry whether your coins is appreciating or depreciating.

[Ever-young]

Its likely possible that the market influences our bet, because if the gambler experience more of losses with his bitcoin holding, he may not be in the mood to cheerfully gamble and stake, knowing that he has been in loss already and the market wasn't in his favor, this may just be a reason to set him discouraged about gambling and not to be a the mood to play bet, because by then he may be seeing that as additional losses to come in if he loses.

What’s that with the market being in his favor thingy? Are talking about HODLers or traders? Because if HODLers, I don’t think there should be any HODLer who’d only expect the market to either remain stable or keep going up. Every hodler should know already that the market is either going up or down, if it’s not a big deal when the market goes up, why should it be one when the market goes down? Except the person is just new to Bitcoin and haven’t really gotten a hang of it yet.

[Sanitough]

If your income is in Bitcoin it wouldn't matter if price is in dip because it's the value of your income in dollar that you're going to receive so I would say that it is safe to gamble with Bitcoin in such situations. But if it's Bitcoin that you bought when the price was high and it dip it can be considered as a lose for you to gamble with because the value in dollar has reduced. Bitcoin is best spent when you're in profit or atleast at a stable price because they value is either intact or increased. For me it's better to use stablecoins so you won't worry whether your coins is appreciating or depreciating.

For me, it’s still basically the same thing, because in the end, you already think about your money in dollar value, whether you earned it or bought it. Even if you earned it through gambling, you still look at how much it’s worth in fiat.

So when the price suddenly dumps, your value gets affected. Even if you win, when you withdraw and convert to fiat, you won’t get the best value anymore. At the end of the day, most bettors still cash out to fiat anyway. That’s why in a bad market, everything feels affected. But that’s just how it goes, it works both ways. Sometimes prices pump too, so it’s better not to focus only on the downside.

[WhoYouCantKill]

Its likely possible that the market influences our bet, because if the gambler experience more of losses with his bitcoin holding, he may not be in the mood to cheerfully gamble and stake, knowing that he has been in loss already and the market wasn't in his favor, this may just be a reason to set him discouraged about gambling and not to be a the mood to play bet, because by then he may be seeing that as additional losses to come in if he loses.

What’s that with the market being in his favor thingy? Are talking about HODLers or traders? Because if HODLers, I don’t think there should be any HODLer who’d only expect the market to either remain stable or keep going up. Every hodler should know already that the market is either going up or down, if it’s not a big deal when the market goes up, why should it be one when the market goes down? Except the person is just new to Bitcoin and haven’t really gotten a hang of it yet.

That’s alright, any investor who understands this would definitely know that that’s just the market and even if there’s a dip today, there’ll certainly be a recovery tomorrow and there’s no need to get oneself worried or walked up over something they can literally not have any control over. A true investor can still decide to gamble whether there’s a dip or not, I mean there’s nothing wrong with having some fun while you wait out the dip.

[KTChampions]

If your income is in Bitcoin it wouldn't matter if price is in dip because it's the value of your income in dollar that you're going to receive so I would say that it is safe to gamble with Bitcoin in such situations. But if it's Bitcoin that you bought when the price was high and it dip it can be considered as a lose for you to gamble with because the value in dollar has reduced. Bitcoin is best spent when you're in profit or atleast at a stable price because they value is either intact or increased. For me it's better to use stablecoins so you won't worry whether your coins is appreciating or depreciating.

I wouldn't say so. I remember very well how when bitcoin was 18-20k and I was getting paid in BTC in signature campaign, I always knew that the payment would increase in dollar terms. It would never occur to me to spend BTC when the price is low. It's clear that if I gamble, then by risking bitcoins, I plan to also win bitcoins, this is a symmetrical risk, but I still prefer to gamble with stablecoins. And yes, if I need to make some payments using bitcoin, I'm already used to the price being >100k, so for now I'll just wait.

[MainIbem]

When the market is down, it's  better to buy more Bitcoin than spending it not to talk of even gambling with. Moreover gambling is not the best way to accumulate more Bitcoin since winning is not certain, it's better that gamblers who choose stablecoins especially now that the market is down instead of risking their Bitcoin.

[Ryu_Ar1]

Precisely for now I am trying to buy bitcoin to deposit and make this as a betting material for the gambling that I do because this is a good momentum to increase profits (if we are really lucky in the gambling that is done) so I chose bitcoin as a betting material.

Compared to stable coins or even altcoins I prefer bitcoin for conditions like this even though it cannot be denied the risk is also quite large but I think it becomes comparable to what we get later.
Maybe some will consider this can also be a waste but I think this is a worthy alternative to test how strong our luck is in gambling and try to take momentum when bitcoin is at a discount.

[Zlantann]

Actually there are many people who loves using Bitcoin to gamble while there are others who do use other altcoins to gamble. I want to know in a situation like this where the market is extremely low, or has loose a lot percentage. Do you still care to use Bitcoin to gamble or you wouldn't use Bitcoin anymore due how much percentage of you have lost and probably when using BTC you are also attributing to your lost or you don't care about how low the price of Bitcoin could be while using it to gamble, and Or do you prefer switching to altcoin like stable coin or TRX just to make sure you secure your holdings?

Using Bitcoin to gamble will depend on the worth of the coin at that time. Gambling with it when I have already lost so much due to its price decline is a financial waste. It makes more sense to gamble with Bitcoin when you are in profit. Nevertheless, it is important to state that I don't use my Bitcoin for gambling. I am sure that people who used their Bitcoin to gamble a long time ago are regretting it. For me, Bitcoin is strictly for investment. Since all altcoins are also falling this period it will be better to use a more stable currency.  I prefer to fund my gambling wallets with fiat or stablecoins.

[JunaidAzizi]

I don't think that people will use a volatile coin for gambling, as it can lead to more losses when the value drops. If you are using a volatile asset, then you can face double losses, one is the asset value, and the second is the bet loss. Therefore, stable coins are the best option, and almost all gamblers use stable coins to secure their holdings, mark profits, and stay away from losing extra money.

[coin-investor]

Not how I bet, but what coin I used to bet, I don't use Bitcoin to deposit. This is the time when I hold my Bitcoin until the price recovers. You don't use or dump your Bitcoin during this challenging time.
This is, in fact, a good opportunity for those who want to accumulate Bitcoin. I'm sure many gamblers are also investors anbd like me, they don't want to lose Bitcoin.
On times like this, I prefer to use TRX and USDT. I also prefer to analyse the market and minimise my gambling time until the market recovers.

[giammangiato]

If your income is in Bitcoin it wouldn't matter if price is in dip because it's the value of your income in dollar that you're going to receive so I would say that it is safe to gamble with Bitcoin in such situations. But if it's Bitcoin that you bought when the price was high and it dip it can be considered as a lose for you to gamble with because the value in dollar has reduced. Bitcoin is best spent when you're in profit or atleast at a stable price because they value is either intact or increased. For me it's better to use stablecoins so you won't worry whether your coins is appreciating or depreciating.

I wouldn't say so. I remember very well how when bitcoin was 18-20k and I was getting paid in BTC in signature campaign, I always knew that the payment would increase in dollar terms. It would never occur to me to spend BTC when the price is low. It's clear that if I gamble, then by risking bitcoins, I plan to also win bitcoins, this is a symmetrical risk, but I still prefer to gamble with stablecoins. And yes, if I need to make some payments using bitcoin, I'm already used to the price being >100k, so for now I'll just wait.

I don't spend bitcoin on gambling right now, I'll wait for better times.
Rather I go for stablecoins and in some cases altcoins (which I'm gradually removing).
When I get a win (unfortunately a few times ) I convert to btc and wait, every single satoshi I consider valuable for the future.
Everyone is free to spend their money and crypto as they wish, at the moment I prefer to buy BTC than to gamble.

[Oluwa-btc]

Do you still care to use Bitcoin to gamble or you wouldn't use Bitcoin anymore due how much percentage of you have lost and probably when using BTC you are also attributing to your lost or you don't care about how low the price of Bitcoin could be while using it to gamble, and Or do you prefer switching to altcoin like stable coin or TRX just to make sure you secure your holdings?

Since I've been on  the system of using Bitcoin to gamble for awhile now and considering the influence in price due to the markets the best thing to do at that moment is to reduce the ratio of what I gamble with rather than just going off entirely. So instead I'll reduce my betting proportion to a ratio that fits perfectly inorder to avoid accrued loses anymore. Preferably bitcoin is safe other than switching to any other stable coins.

[Mame89]

Actually there are many people who loves using Bitcoin to gamble while there are others who do use other altcoins to gamble. I want to know in a situation like this where the market is extremely low, or has loose a lot percentage. Do you still care to use Bitcoin to gamble or you wouldn't use Bitcoin anymore due how much percentage of you have lost and probably when using BTC you are also attributing to your lost or you don't care about how low the price of Bitcoin could be while using it to gamble, and Or do you prefer switching to altcoin like stable coin or TRX just to make sure you secure your holdings?

No. I've never even gambled with Bitcoin because I see it as an investment. For me, Bitcoin is a valuable asset so it's a shame to use it for gambling especially when Bitcoin's price is dropping like it is now. Instead of gambling with Bitcoin I prefer to continue buying Bitcoin using DCA.

So, I've always preferred using stablecoins for gambling. What I mean is once I've bought Bitcoin, I never use my Bitcoins to gamble. Even if I do want to gamble, I prefer to deposit it in stablecoins. However, it's up to each individual whether they gamble with Bitcoin or stablecoins but my choice remains stablecoins.

[Transylvanian]

I believe everything is in the state of mind. At such a low market, I would be slightly hesitant to bet on Bitcoin. Since at the time it appears that the price can go up in the future, and what I am gambling with now can be of great value in the future. When you have that possibility in mind then the risk appears different. This is why a lot of individuals prefer steadycoins or less volatile coins. This is a relief because they do not have to run the double risk of market fluctuation, but the risk of the game. But then again, when one considers gambling as a form of entertainment, then the person will in most cases spend money that they will not regret when they lose. According to my view, the wisest thing is to ensure that one does not mix investments and gambling because this will make the realization of the loss in the future a hard task.

[Cryptmuster]

Actually there are many people who loves using Bitcoin to gamble while there are others who do use other altcoins to gamble. I want to know in a situation like this where the market is extremely low, or has loose a lot percentage. Do you still care to use Bitcoin to gamble or you wouldn't use Bitcoin anymore due how much percentage of you have lost and probably when using BTC you are also attributing to your lost or you don't care about how low the price of Bitcoin could be while using it to gamble, and Or do you prefer switching to altcoin like stable coin or TRX just to make sure you secure your holdings?

I more often use stablecoins for gambling, mainly because they help me keep more accurate track of my bets. However, I have also deposited Bitcoin many times in the past. In general it wasn’t very important to me what the market was doing at the time, whether Bitcoin was going down or going up, because my main goal was to increase the number of satoshis in my balance, since Bitcoin is a long-term investment for me. So I don’t see a big difference between having Bitcoin or stablecoins on your deposit.

[WhoYouCantKill]

Since I've been on  the system of using Bitcoin to gamble for awhile now and considering the influence in price due to the markets the best thing to do at that moment is to reduce the ratio of what I gamble with rather than just going off entirely. So instead I'll reduce my betting proportion to a ratio that fits perfectly inorder to avoid accrued loses anymore. Preferably bitcoin is safe other than switching to any other stable coins.

As long as it’s gambling (short term) I think stable coins could also be considered as safe, I know I wouldn’t say this if it were to be in a case of investment. But considering the state of the market now, anything can happen, especially for those who tend to stake high, you can’t assume everyone would wanna truncate their usual budget because they wanna avoid having the dip eat up their money while they gamble. Since it’s just something that’s just for the short term, I don’t see any harm in switching to stable coins.

[AVE5]

Actually there are many people who loves using Bitcoin to gamble while there are others who do use other altcoins to gamble. I want to know in a situation like this where the market is extremely low, or has loose a lot percentage. Do you still care to use Bitcoin to gamble or you wouldn't use Bitcoin anymore due how much percentage of you have lost and probably when using BTC you are also attributing to your lost or you don't care about how low the price of Bitcoin could be while using it to gamble, and Or do you prefer switching to altcoin like stable coin or TRX just to make sure you secure your holdings?

I've my own measure of betting with bitcoin or any other crypto currency without being affected by the market volatility.
I hold my gambling funds in a separate wallet off the gambling site with the usdt. So I've to fund my gambling account with any of the respective coins to gamble at that moment.
That had been my strategy for a while now since the market hasn't been holding valuable within the short term.
Oh you don't know holding your gambling funds now in the high volatile currencies would cause lost to your budget gambling funds all the while of the bearish sentiment.

[Moreno233]

The ongoing bear market does not affect my gambling in anyway because my gambling funds is separated from my investment funds which is mostly in Bitcoin. Besides, everyone wants to save cost, so since there are other cryptocurrency with cheaper transaction fees, I try to use those to make deposit into my gambling account. I might be in heavy draw dawn in my portfolio but that will not bother me much since I'm going for long term investment while I continue my gambling with other cryptocurrencies or even stablecoins.  

[Aanuoluwatofunmi]

The fall of the market would have influenced a number of people from gambling because some of their expectations were not met as the market falls and they go into losses, while on the contrast they might have expected that the market should rise and they make more profit in other for them to have more reasons to gamble, but as the case may be for now, it shouldn't plays much significant effect in stopping many of us from gambling, since we are already used to read and the rise of all of the crypto market shouldn't be the only reason why we should gamble or not.