Bitcoin Is Dumping, Does It Really Push You to Gamble More?

[mirakal]

With Bitcoin dumping again so I’m wondering how this actually affects people who are into gambling.

Some treat this like “inflation.” and that is when BTC keeps losing value, they start thinking about pulling funds out and trying to double it through casinos or betting, just to recover losses.But honestly, does that really make sense? If you take that risk, you’re basically moving your BTC from something that can still recover over time into a game where the odds are already against you. One bad session and your “recovery plan” is gone. Even if you win once, most people end up playing again, trying to win more, until they give everything back.

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

[blockman]

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

With the risk to have more Bitcoin, yes. But with the risk of gambling and spending that bitcoin is a big NO. I won't do the same thing as what others try to solve on how the market behaves. Because there is no solution to it when it's plummeting. I won't touch my Bitcoin funds just for me to counter this market. I'll wait and be patient about it while having some funds on the side in other altcoins that I can gamble with. The minimum amount of gambling isn't that a lot and so, I can still gamble or if I don't like to get going. It's simply best to stop and wait until the market calms down.

[Charles-Tim]

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

That is not about taking risks, that is stupid.

You mean someone that is holding bitcoin, who did not sell his coins but the market dump and he is losing. Gambling should not be a way he should think of recovering his losses, bitcoin will rise back. He should keep holding instead.

[Alphakilo]

One of the reasons why I have always preferred using a platform that allows other crypto currencies including Bitcoin is because of a time like this when there is dip, and one can then use the preferred coin or stablecoins or altcoins.
I don't use much of my BTC for gambling because I consider it a waste, instead I prefer USDT or USDC or Eth or even Sol which happens to be more stable for now as compared to Bitcoin dipping further.

[robelneo]

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

I separate my investment strategy from my gambling strategy, although they both have risks involved. In gambling, you can lose, and there is uncertainty about when you will next win. In investing, you just need to be patient; things will get better, and you can recover without doing anything.
It's dumb to try gambling to recover your investment because it will not work, and you will experience double jeopardy.

[nelson4lov]

Make sense to me. My overall goal is to increase the number of sats that I have so gambling with it is the best way to increase it. But for something like this, I tend to err on the side if caution because as much as I want to increase my stash of bitcoin, I still want to protect the one I have. 1.50 to 3 odds will do the trick though .

[Floxynice]

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

With the risk to have more Bitcoin, yes. But with the risk of gambling and spending that bitcoin is a big NO. I won't do the same thing as what others try to solve on how the market behaves. Because there is no solution to it when it's plummeting. I won't touch my Bitcoin funds just for me to counter this market. I'll wait and be patient about it while having some funds on the side in other altcoins that I can gamble with. The minimum amount of gambling isn't that a lot and so, I can still gamble or if I don't like to get going. It's simply best to stop and wait until the market calms down.

Yea, I consider a period like this in the bitcoin cycle to be a time to accumulate bitcoins and not to spend the bitcoin whose value has reduced already. As for gambling with the intention of doubling my bitcoins, that is a very big risk to take during the bear market. No, I am not going to take such a risk.

When it come to gambling, I believe in just winning for some profits. The idea of doubling my initial deposit or trying to recover something sounds like a trap to me. People give themselves very high expectations and end up disappointed when their plans don't go as they had expected.

[Sanitough]

That’s the wrong mindset if you’re getting affected by the current dump. If you’re holding or trading Bitcoin, that already makes you a trader or investor, and if you’re also gambling, you shouldn’t mix those two together. Mixing them usually just leads to bad decisions and, in the end, failure.

The better way is to manage them separately, different approach for investing or trading, and a different one for gambling. Even if the market is dumping, your gambling shouldn’t be affected, because your goal there is to win bets, not to speculate on Bitcoin’s price.

If you really want to remove volatility, it’s simple. Just convert your Bitcoin to stablecoins. That way, you don’t have to worry about price swings and you can focus on your betting properly.

[Agbe]

I don't really gamble with Bitcoin so this isn't something I would do because the price is dumping, I would rather hold and keep waiting for the bull run to hit the market instead of taking the risk of gambling with a valuable asset like bitcoin. To me I feel like the risk is not worth taking because once you lose it then it's gone for good but in holding even if the price is dumping you can still end up recovering.

[Mindyspace]

To be honest, I wouldn't feel confident betting this way. I think that because Bitcoin goes up and down, I might unfortunately experience a lot of frustration. I wouldn't even want to imagine that betting everything would work out. 

[aioc]

With Bitcoin dumping again so I’m wondering how this actually affects people who are into gambling.

Some treat this like “inflation.” and that is when BTC keeps losing value, they start thinking about pulling funds out and trying to double it through casinos or betting, just to recover losses.But honestly, does that really make sense?

Doesn't make sense at all. You must be that desperate to gamble your investment just to recover your losses in the market; it's like you lose hope, and gambling is the only way. It's a do-or-die situation that is not in your favor.

When the market is crashing, it's important to be sober and patient because the market will eventually recover, maybe not as fast as you expected, but it's better than losing everything in gambling.

[Cleanslate_]

With Bitcoin dumping again so I’m wondering how this actually affects people who are into gambling.

Some treat this like “inflation.” and that is when BTC keeps losing value, they start thinking about pulling funds out and trying to double it through casinos or betting, just to recover losses.But honestly, does that really make sense? If you take that risk, you’re basically moving your BTC from something that can still recover over time into a game where the odds are already against you. One bad session and your “recovery plan” is gone. Even if you win once, most people end up playing again, trying to win more, until they give everything back.

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

The dumping of bitcoin has nothing to do with me when am gambling because I know you that it is the time and it's happening so why would I panick, instead I will focus on gambling to ease my thinking or not to think about it the stress it would cause me, I use gambling to avoid all that and continue with my life.until bitcoin starts rising back to it's initial price or above it.

[rachael9385]

This affects people that gamble with bitcoin, personally I don't gamble with bitcoin because i mainly use it only dor investment purposes and plus this doesn't push me to gamble more with other currencies just because I'm running at loss due to the dip. it is unwise to gamble with Bitcoin just because the market is dip, if you understand how crypto works you would know that it's a temporal phase.

[Oshosondy]

I wouldn't even want to imagine that betting everything would work out. 

I will imagine it, although which I do not think it is an imagination because that is what would happen. If I am lucky the first time, I may turn it to a habit in a way that if I am losing, I will want to use all the remaining bitcoin to gamble and this is not good at all because I will later lose. A bitcoin holder that is gambling like this have higher probability of losing all his bitcoin holding.

[Accardo]

If wins were guaranteed, the faltering price of btc at this stage would encourage any gambler to wager their assets for additional Bitcoin. Moreso, in these two collaborating industries, people are better guaranteed to win, if they'll slow down on gambling and use most of the money meant for the habit to buy Bitcoin. The house despite showing a faster possibility, won't double your coins.

[Dr.Osh]

It's just frustration because they are not ready to accept reality, instead of being patient so that the asset value recovers, some people take a way out by gambling to cover their losses, falling prices will lead some people to gamble and that really happens

[Cantsay]

This is not a wise move if you ask me. Going to gamble because you want to double your bitcoin so it will offset the price movement of the coin.

Since bitcoin started falling in price, I have only been gambling with fiat, I see no reason to move my coins and then risk losing it. If you do this you’ll become desperate and I feel you’ll gamble with emotions and lose your money so the risk is just too much for me to advise anyone to do or even involve myself in.

[Asiska02]

With Bitcoin dumping again so I’m wondering how this actually affects people who are into gambling.

….

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

As a gambler, you should not take your bitcoin investment and put into gambling just because the market is dumping. Putting your money into gambling on the hope of recovering your loss in Bitcoin as a result of the dump will only make you lose more of your investment. Gambling is not a scheme that promises even up to 50% certainty of your return on investment, it is a game of luck, so risking your Bitcoin is a very wrong move. One thing you should understand about Bitcoin is that, 1BTC=1BTC as long as you don’t take any of them out and spend. This is just a storm in the market now that as an holder you should have been more familiar with it now. These moments too will be over and Bitcoin will rise again, don’t risk that your potential Bitcoin saving into gambling.

[Japinat]

If you gamble with your bitcoin because the price is dropping low, that is definitely taking risk blindly. You will only lose your bitcoin in the end, even if it means winning at first but eventually losing all of them in the long run. That only proves panicking does not result into good decision-making.

But you know what's currently in my mind? I'm thinking how to make more funds to buy bigger amount of bitcoin and increase the amount of my bitcoin portfolio, not to resort into gambling just because the current price is not impressive at all, or just trying our luck through gambling our bitcoin.

[coin-investor]

From a gambler’s perspective, do you really feel more confident taking risks during a dump, or is it just frustration talking?

If you are in a desperate move to recover what you lost in the market, then you don't really understand the concept of investing in the cryptocurrency market.

And a casino is the worst place to try to recover your losses, because even if you are good at gambling its still a game of uncertainty, you could end up with nothing when all you need to do is to ride it off or not to take any action.