Does the market influence your bet?

[Ivystar5]

if you gamble with with $50 dollars when the market is at 85k and you earn the same salary what allows you to use such amount and now it's at 70s is it not the same amount you are spending, the fact is just that you spend it in bitcoin and holding it would have giving you more bitcoin in future but then is bitcoin not money? od course it is, so let's use it as money and not just an investment asset. so the market in my person point will have no effect on my predetermined amount used in gambling.

Yeah when the market price reduces, the quantity of bitcoins you used in staking the bet remains the same but the value reduces which implies that no matter the price of bitcoin as at the time you staked a bet, the amount used to stake a bet is unchanged but what will make you smarter is when you hold your bitcoins after a win. This is even the best time to gamble with bitcoin if you are not planning to sell anytime soon because it is another way to maximize profits in the long run. Many people do not understand the psychology behind bitcoin because they feel that when the price is falling, the amount of bitcoins also reduces but that is not true.

Yeah, but risk it only when you know that yes Yiu can win because you can be in a losing streak in gambling but if Yiu already knows you ground you can start gambling with bitcoin in the bear market and when you hit a big win you can keep the bitcoin intact when messing around with the rest of the amount of bitcoin you have for gambling and maybe luckily you can win one big hit and hold for profit maximizing.

[tread93]

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 do find it hard to give up these precious sats when the time is here to accumulate more of them! Hopefully we will all win in our betting. I still need to place my super bowl bet!

[Nahl]

I used to gambling using bitcoin very often but since bitcoin price quite expensive and the fees are too high at that time then i was looking for other coin to gambling and my pick is for stable coin even since 2024 i have often used that coin to gambling and the reason why i was choose that altcoin instead of bitcoin because from prices movement USDT is more stable than bitcoin besides that for withdrawal fee mostly the casinos put cheap fees for USDT compared to bitcoin besides that currently i only used bitcoin for investment only

[tygeade]

Not really? I mean while I know that it's bitcoin and the price is volatile, I see it as dollars and not crypto still . Even after 10 years of gambling, whatever I gamble with is always dollars in my mind because if ı were to think of it in bitcoin terms then I would have to say I lost hundreds of thousands of dollars, even millions of dollars in gambling.

Because it's been over a dozen bitcoins so far that I lost, but if you look at the time itself that I lost them, like what they were worth at that time, then it would be couple thousand dollars over ten year period which is nothing.

[Cityhunter34]

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.

Gambling is purely about decision because what you can afford to lose might likely be a huge amount for someone else to lose. So there's nothing to worry about the market because there are gamblers who have been in this suation and they still maintain their normal stand in gambling, and they don't care if they are losing or not as long as they are having fun they are okay.

After all there's no business without losses no matter how smart you are in one way or the other losses must come in but the most important thing is discipline and self control.

[lombok]

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.

Gambling is purely about decision because what you can afford to lose might likely be a huge amount for someone else to lose. So there's nothing to worry about the market because there are gamblers who have been in this suation and they still maintain their normal stand in gambling, and they don't care if they are losing or not as long as they are having fun they are okay.

After all there's no business without losses no matter how smart you are in one way or the other losses must come in but the most important thing is discipline and self control.

Bravery to respond rationally to risk is a matter of survival versus extinction since each of the choices we make is very personal to us. The reality of the process is that we are bound to suffer some losses as long as we always remember to keep spending within financial constraints of emotional comfort. You need not feel weighed down by uncertainty and you can have a glimpse of this reality.

[Yorubek]

if you gamble with with $50 dollars when the market is at 85k and you earn the same salary what allows you to use such amount and now it's at 70s is it not the same amount you are spending, the fact is just that you spend it in bitcoin and holding it would have giving you more bitcoin in future but then is bitcoin not money? od course it is, so let's use it as money and not just an investment asset. so the market in my person point will have no effect on my predetermined amount used in gambling.

Yeah when the market price reduces, the quantity of bitcoins you used in staking the bet remains the same but the value reduces which implies that no matter the price of bitcoin as at the time you staked a bet, the amount used to stake a bet is unchanged but what will make you smarter is when you hold your bitcoins after a win. This is even the best time to gamble with bitcoin if you are not planning to sell anytime soon because it is another way to maximize profits in the long run. Many people do not understand the psychology behind bitcoin because they feel that when the price is falling, the amount of bitcoins also reduces but that is not true.

Yeah, but risk it only when you know that yes Yiu can win because you can be in a losing streak in gambling but if Yiu already knows you ground you can start gambling with bitcoin in the bear market and when you hit a big win you can keep the bitcoin intact when messing around with the rest of the amount of bitcoin you have for gambling and maybe luckily you can win one big hit and hold for profit maximizing.

You can't say anything for sure through gambling, if you are lucky you can win by gambling. It is true that after winning big by gambling, it is a very good decision to use some money in Bitcoin instead of using all the money for gambling. However before investing it is better to manage the investment by gaining the right knowledge, which will reduce the risk of losing money. There is a risk of losing money through gambling, so always gamble with money that you will have control over and will not face financial problems as a result of losing money, it is wise to gamble using that money.

[Uhwuchukwu53]

The market influence gambling generally but it depends on individual as gambler be it negative influence or positive one, all are based on what the individual gambler can afford to loss, while some may even prefer Bitcoin,some prefer USD or usdt or even fiat all depends on value placed by gambler and the ability to take that risk and bearing what it will course when losses occur. Applying the laws of demand and supply dip is always a negative influence because more Bitcoin is required to meet up if one wants to place a very high profile bet as the price drops, all centered on mindset.

[AmaGold70]

Using Bitcoin to gamble or any other altcoin is solely based on the gamblers decision, while some persons would still gamble with their Bitcoin despite price volatility, most people prefer converting their Bitcoin to a stable coin like USDT before gambling and the reason is to maintain the stability of their coin before and after gambling. Right now, Bitcoin and other altcoins are going down in their prices, so any gambler who wants to credit his or her gambling account prefer doing that in stable coin since Bitcoin bullish trend is not expected so soon.

[Dr.Bitcoin_Strange]

I don't bet with Bitcoin except on some occasions, as a Bitcoiner, holding is my priority. I can not buy Bitcoin at $100k and then start using it to gamble when the price has drop to $70k, that would make me lose part of my asset and I don't want to.

That will make you lose the value of what you've held for so long and then you didn't even sold at the top. So, it's a big loss by spending that Bitcoin you hold when it's dropped to $70k as of now. While that's still a decision that someone needs to think of it for themselves.

Anyone that wants to gamble purchase Bitcoin instead of using Bitcoin from their portfolio whose value has dropped below their bought price.

That's a bad decision if they're seeing it that its value dropped so much and will use it to gamble. But for the gamblers that have notice, they can spend that if they wish to. Although accumulating new Bitcoins again is going to be harder once the recovery is final and done.

I think the only reason why some people would still gamble with Bitcoin no matter any market conditions is if the they specifically got the Bitcoin just for gambling and not for holding as an investment and also if only the person is buying Bitcoin only when they want to gamble. For example, if I want to gamble, I will just buy Bitcoin and deposit it or I must have bought enough Bitcoin and just kept it specifically for gambling.

[Judith87403]

If the market is very low, many gamblers of Bitcoin begin to think differently. Using BTC in time of dip may feel like a double loss: you lose worth from price drops and risk losing coins through gambling. Because of that, a lot of persons bend towards stablecoins or low volatility coins like USDT or TRX to separate price risk from betting risk. They handle Bitcoin as a long term hold and gamble with what is more stable. Some do not care about swings of price and view Bitcoin as a tool for payment purely, instead of an investment at that time. Practically, users who is aware of risk prefer stablecoins in bear markets to secure their holdings and filter emotions out of their decisions of gambling.

[Fredomago]

if you gamble with with $50 dollars when the market is at 85k and you earn the same salary what allows you to use such amount and now it's at 70s is it not the same amount you are spending, the fact is just that you spend it in bitcoin and holding it would have giving you more bitcoin in future but then is bitcoin not money? od course it is, so let's use it as money and not just an investment asset. so the market in my person point will have no effect on my predetermined amount used in gambling.

Yeah when the market price reduces, the quantity of bitcoins you used in staking the bet remains the same but the value reduces which implies that no matter the price of bitcoin as at the time you staked a bet, the amount used to stake a bet is unchanged but what will make you smarter is when you hold your bitcoins after a win. This is even the best time to gamble with bitcoin if you are not planning to sell anytime soon because it is another way to maximize profits in the long run. Many people do not understand the psychology behind bitcoin because they feel that when the price is falling, the amount of bitcoins also reduces but that is not true.

Yeah, but risk it only when you know that yes Yiu can win because you can be in a losing streak in gambling but if Yiu already knows you ground you can start gambling with bitcoin in the bear market and when you hit a big win you can keep the bitcoin intact when messing around with the rest of the amount of bitcoin you have for gambling and maybe luckily you can win one big hit and hold for profit maximizing.

Good point, if you can hold once you got that chance to win decently, holding to maximize the full value before exchanging your BTC, that's something you can do if you have good discipline and if your focus is to earn but not everyone who deal with gambling can simply hold when they able to win, most of the time they will re-try and check if luck still going to permits them to add more with their earnings, though most of them that chase for more ended up losing their winning back together with their initial deposit.

[xenomorfo]

If someone was previously betting using Bitcoin, the best thing for them, in my opinion, is to continue betting with the same proportion of Bitcoin (when the price drops). This way, they contribute to the use of Bitcoin, since supply and demand control the market price. If everyone hoards or sells out of fear, the market suffers. For example, if they were previously betting 0.0001 BTC, they should continue with the current 0,0001, even if it's a smaller amount. If you're loyal to Bitcoin, you shouldn't worry about the fiat currency conversion, just as those who only bet in fiat currency aren't concerned about the price of Bitcoin.

However, if you don't mind using fiat or a stablecoin for this, go ahead; it's currently the best option for maintaining a balance.

I personally prefer to use euros to bet because I don't trust the state very much and it is a currency that I can afford to lose. But Bitcoin and Satoshis are important to me, indeed, they are my future, my future pension when I no longer work, so I don't use them.

[Ivystar5]

snip

Yeah when the market price reduces, the quantity of bitcoins you used in staking the bet remains the same but the value reduces which implies that no matter the price of bitcoin as at the time you staked a bet, the amount used to stake a bet is unchanged but what will make you smarter is when you hold your bitcoins after a win. This is even the best time to gamble with bitcoin if you are not planning to sell anytime soon because it is another way to maximize profits in the long run. Many people do not understand the psychology behind bitcoin because they feel that when the price is falling, the amount of bitcoins also reduces but that is not true.

Yeah, but risk it only when you know that yes Yiu can win because you can be in a losing streak in gambling but if Yiu already knows you ground you can start gambling with bitcoin in the bear market and when you hit a big win you can keep the bitcoin intact when messing around with the rest of the amount of bitcoin you have for gambling and maybe luckily you can win one big hit and hold for profit maximizing.

Good point, if you can hold once you got that chance to win decently, holding to maximize the full value before exchanging your BTC, that's something you can do if you have good discipline and if your focus is to earn but not everyone who deal with gambling can simply hold when they able to win, most of the time they will re-try and check if luck still going to permits them to add more with their earnings, though most of them that chase for more ended up losing their winning back together with their initial deposit.

Holding as a crypto gambler shouldn't be a problem either in my opinion because basically, what we have been talking about all day long is how to hold and how to be come rich in crypto by holding that is a good habit one should already cultivate then when you win from gambling you can just use the same pattern that you already have learnt in the crypto investment, to manage your tested to gamble one more time. however, I personally will have a big part of the win in the holding and then use a garbage fund to try more luck's it's good you can add more to maximise your profit.

[iBaba]

I used to gambling using bitcoin very often but since bitcoin price quite expensive and the fees are too high at that time then i was looking for other coin to gambling and my pick is for stable coin even since 2024 i have often used that coin to gambling and the reason why i was choose that altcoin instead of bitcoin because from prices movement USDT is more stable than bitcoin besides that for withdrawal fee mostly the casinos put cheap fees for USDT compared to bitcoin besides that currently i only used bitcoin for investment only

I don’t think gambling with bitcoin is lucrative if one is considering the things you mentioned such as the transaction fee and the volatility of the market, especially as it is in its very low level now. Bitcoin is a great technology I still respect till date and will continue to respect throughout but when it comes to using it for your daily activities such as transactions, I don’t think it is so lucrative yet because when you look at the transaction fee which is one big disadvantage it comes with, you won’t want to use it to gamble. So I would also use USDT (which is a stable coin) to carry out my P2P activities.

[sunsilk]

I personally prefer to use euros to bet because I don't trust the state very much and it is a currency that I can afford to lose. But Bitcoin and Satoshis are important to me, indeed, they are my future, my future pension when I no longer work, so I don't use them.

Bitcoin is important to all of us. If we have the option to gamble with fiat, much better.

That should be it because whether we gamble with crypto casinos or the online local casinos, we'll simply spend what has that stable value which is our local fiat or in your case, euros.

While it's not limited to the locals in that country, we can also spend USD if we've got and have some of the cryptos we're willing to bet into fiat or go straight directly to gamble with it.

[Akbarkoe]

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 crypto casinos of course bitcoin and others become a gambling tool that is definitely used here, indeed the market affects gambling intentions when the coin we have on a coin let's say $500 and there is a price drop due to the market crash the value of our dollars goes down, if our purchase price drops 30% then it is very annoying to lose a few dollars because every bet in the casino is the level of the dollar value per bet it will affect how many spins you should get if in the slot, but if in sports betting I think it will not be a problem, therefore I am in budgeting in stablecoins before buying other coins to bet in the casino.

[TheUltraElite]

While it's not limited to the locals in that country, we can also spend USD if we've got and have some of the cryptos we're willing to bet into fiat or go straight directly to gamble with it.

Stable coins are an option when the market is going up or down drastically. Or shifting to a casino that accepts fiat money.

But most gamblers as I have seen, will continue to play whatever be the change in market because they are deeply involved in regular playing and not observing the market price changes. Often they are unaware of what is going on in the market.

Prices should dictate how players gamble to maximize the capital they can play with, but impulsive gamblers dont have time for that.

[drangos]

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 crypto casinos of course bitcoin and others become a gambling tool that is definitely used here, indeed the market affects gambling intentions when the coin we have on a coin let's say $500 and there is a price drop due to the market crash the value of our dollars goes down, if our purchase price drops 30% then it is very annoying to lose a few dollars because every bet in the casino is the level of the dollar value per bet it will affect how many spins you should get if in the slot, but if in sports betting I think it will not be a problem, therefore I am in budgeting in stablecoins before buying other coins to bet in the casino.

Yes, the market does have a bearing on my betting decisions. When Bitcoin plummeted I will be more wary as I view it as an investment tool rather than a gambling coffers. Investing BTC when it is on a downswing is like betting twice. During such times, I would use stablecoins or low-cost altcoins to bet because I can easily budget and predict any losses. Isolating my gambling capital out of long-term holdings also helps to make me personally more in control of my overall decisions.

[impulse709]

if you gamble with with $50 dollars when the market is at 85k and you earn the same salary what allows you to use such amount and now it's at 70s is it not the same amount you are spending, the fact is just that you spend it in bitcoin and holding it would have giving you more bitcoin in future but then is bitcoin not money? od course it is, so let's use it as money and not just an investment asset. so the market in my person point will have no effect on my predetermined amount used in gambling.

Yeah when the market price reduces, the quantity of bitcoins you used in staking the bet remains the same but the value reduces which implies that no matter the price of bitcoin as at the time you staked a bet, the amount used to stake a bet is unchanged but what will make you smarter is when you hold your bitcoins after a win. This is even the best time to gamble with bitcoin if you are not planning to sell anytime soon because it is another way to maximize profits in the long run. Many people do not understand the psychology behind bitcoin because they feel that when the price is falling, the amount of bitcoins also reduces but that is not true.

Yeah, but risk it only when you know that yes Yiu can win because you can be in a losing streak in gambling but if Yiu already knows you ground you can start gambling with bitcoin in the bear market and when you hit a big win you can keep the bitcoin intact when messing around with the rest of the amount of bitcoin you have for gambling and maybe luckily you can win one big hit and hold for profit maximizing.

I support the fact that the market value of Bitcoin should not determine the choice of a bettor in case the gambling capital is already determined. At 85k or 70k, the sum used to make a bet is the same in terms of BTC and once spent on gambling should be considered spent money. The actual problem is psychological because most individuals begin to consider the value of a bitcoin in the future when the market is down, and they forget that Bitcoin continues to be money. The market conditions, however, should not be employed as an excuse to make bets; bets that are more aggressive. The intelligent thing is to act disciplined, play with a fixed bankroll, take on potential losses, and keep gambling money and long-term investments separate. It can be best to keep Bitcoin after a win since it can be worth the most, but it must be an added benefit, not the primary reason.