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

[Itz-prisigold]

I understand that when Bitcoin goes down, people start to feel emotions that cause them to think really irrationally.  A chart going down and people feel stressed like they should do something instead of just do nothing.  This is when people start to look gambling as an option,  they see gambling as a shortcut to undo the pain of watching their money shrink. But to me,  that is when a person has the weakest decisions. And at this point you're no longer thinking about probability, you are not reacting with frustration.

I have also learned that when you mix market losses with gambling that is where it becomes dangerous, because your motive is no longer entertainment, but to recover and recovery thinking is what pushes people to take risks they normally wouldn’t. People feel the need to take huge swings to counter large losses. Bitcoin going down is generally temporary,  but making a large gamble can end up being a permanent bad decision.

Instead of being worried when Bitcoin goes down,  I feel like it is more of a reason to not take risks.  It usually reminds me to stop, and not make a decision based off emotions,  and to have patience.

[Findingnemo]

I will never do that, and I don't confuse gambling with my portfolio, and also in recent times I switched to stable coins because it is more convenient, as I often calculate my deposits in fiat value, so with stable coin,s I don't have to calculate or worry about the volatility. Added benefit is when you withdraw you get cheapest withdrawal fee and almost instant confirmation.

[ColdLava40]

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

That's strange, I feel it would be dump right now to sell your BTC just to gamble in the name of trying to double it.

Is rather sell my coins to eat some meal or get a gadget than use it to gamble.

There's no guarantee that your coins would double. It's good as a bitcoins investor to be smart enough not to be push around by market movements. The current dump is an opportunity to accumulate more bitcoins, not sell them and worse use them to gamble.

It's better to use stable coins to gamble and leave your bitcoin holdings, no matter how volatile the market is right now, it will surly regain it's momentum to the upside...

[masulum]

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

Portfolio decreased in value because current market correction, it's mean you have to hold or converted it to stable coins for future buyback. If you are trying to gambled because your portfolio decreased, I believe this is not a wise choice. Th reason is, gamble is not guarantee you can doubled your portfolio's unless you are very lucky you got a big win from your betting. But, remember, if your betting in the wrong side, and making you lose, it's mean you are losing anything from your portfolio, and no more hopes when crypto going bullish again.

[Hispo]

... Added benefit is when you withdraw you get cheapest withdrawal fee and almost instant confirmation.

That depends on the network, but you are right, most of the networks which are supported by USDC and USDT have very good transaction fees and confirmations are very quick when compared to the main network of Bitcoin.

Convenience continues to be the usual reason why anyone would prefer to gamble using stablecoins instead of Bitcoin or other floating Cryptocurrencies. It is easier to keep track of the capital being put at stake and track of one's losses.

Though, I would understand if some gamblers have simply grown fond of gambling with Bitcoin and it is harder for them to move onto other assets, which are way more stable.

[Royal Cap]

To be honest if I gamble I usually do it with stablecoins like USDT. Because I don't have to worry about sudden price spikes or drops. At least the value of the fund doesn't fluctuate that way whether the market goes up or down, It feels a little more comfortable to me. I don't have to make hasty decisions when I see Bitcoin go down or go up, So I always think if I have to gamble, at least I should play in a way that doesn't increase unnecessary risk. Although gambling is always risky.

[X-ray]

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

It's basically gave no effect to the people who are gambling especially at stake. In stake, there is a feature called crypto swap, which let you to swap your crypto to the stable token at casino. They could easily negate dump's effect by swapping their asset to the stablecoin. I don't think dump can affect the gamblers. So there's nothing to feel worry.

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?

A good gambler would do a non sensical thing like that. he would be selling at peak, then get more money for gamble. So he can have greater odds to win by having more money to gamble with. Withdrawing his asset, then swap it to stablecoin takes only a few minutes. it sounds no problem for him to secure his money.

The only dumb gambler who would still hold their crypto and do nothing during the dump. that's why i think a wise gambler would never hodl their asset during the dump.

[Judith87403]

For a lot of gamblers, to take bigger risks in times of Bitcoin dump is frustration, not logic. A drop in BTC price puts already emotional pressure on people, and to gamble in that condition often leads to lose chasing. You go from volatile asset that may recover with time to games with  negative fixed odds. That is risk quality downgrade. The doubling it back idea may sound at the moment, yet one bad move would wipe out everything. Even wins usually turn into more bets and larger losses. To stay confident in time of dump is rare. What appears like bravery is mostly impatience combined with fear.

[leonair]

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?

For those who are panic sellers, it is worth noting that they will be very upset with themselves because they have lost money by panic selling by investing in Bitcoin and they may be interested in gambling to recover their losses quickly. This happened to me once when I was trading Futures. At that time, I would lose a lot of money very quickly and I would always be in a state of panic. And at that time, the idea of gambling would often come to my mind. But I always tried to control myself and avoid it. Now I don't feel anything like that. Because I normally enjoy gambling sometimes and always think of gambling as a fun place.

[Samlucky O]

For me it is Very very wrong to try doubling your hustle by moving funds from your Bitcoin wallet to Gambling app or casino just to multiply your chances of winning double or triple of your Bitcoin holding. As far as Gambling is concerned, it has no guarantee to make you win weather short or long time. So it is safer to HODL your coin in your wallet and expect to make profit in the long run than gambling it to casino, because you might just lose al in just a day. But when you HODL it, you will be profitable in the nearest future.

[casey15]

Sincerely for someone like me that uses Bitcoin as an alternative currency for gambling, I don't really care about the price for a gamble. I mainly use USDT to stake my bets and Bitcoin is just an alternative that I use only about 20% of the time. But for people whose primary betting currency is Bitcoin, I think it will matter because it will increase the amount of Bitcoin they will have to stake in a game mand sometimes the win may not seem to worth it. If you bet with very low amounts, them you could just overlook it because there will be so many zeros in front of your number.
If I were to use Bitcoin majorly, I will have to reduce my risks during a dip like this one we are experiencing just to be on a safe side

[xbetz.io]

I think this happens more often than people admit. During dumps, some players treat gambling like a way to “recover” losses, even though the odds don’t change just because the market is red. What’s interesting is that many platforms feel smooth at first, fast withdrawals, no friction, which can reinforce that behavior early on. Over time, the experience often changes. Personally I think the dump itself isn’t the trigger but how people emotionally frame losses during volatility.

[Hardyrobust]

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?

Having this kind of mindset is very wrong. unless for those that don't understand the nature of bitcoin ,if not I  don't see any reason why people will be pushed into tempering with there bitcoin investment because of volatility and them decide to gamble with it believing that they are going to double the value .
Lack of understanding of what bitcoin investment is and how the market moves is the only thing that will propel people to act this way.

[yahoo62278]

Bitcoin is ALWAYS going to recover and push to new ATH, it's a cycle that we have been seeing for many years now. No reason to freak out trying to recover your losses from price dips, just sit back and wait for bitcoin price to recover as it always has. I guess if you want to do some low risk sports betting to try to get a little more bitcoin it's probably ok, but no need to go gamble huge to try to recover losses over the price dipping.

[Dunamisx]

The fall of the market is not the end of it all, instead the  beginning of a new era for us to be able to prepare ourself ahead what we have or intend to have in crypto, because after every fall comes the rise, which we know how interesting it could be for the long time holder to wait for this period to be unleashed, while either fall or rise of the market should not determine how or when to gamble.

[Nwada001]

From a gambler's perspective, I don't consider taking risks at such a time a good thing to do. As long as I don't gamble with Bitcoin, I won't consider doing it during a dip.

Another thing too is using Bitcoin to gamble in a time of dip is like selling it, which is exactly the same thing as dumping at a loss, which has never been a good move by any investor before. It's better to hold and leave life like it never happened than to try to multiply it on high-risk leveraging.

[uneng]

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

Of course it's just frustration taking place. People get frustrated, what leads to desperation, what leads to impulsive moves like trying to recover money through gambling. It's a dangerous cycle where more people lose, more prone they feel to gamble further.

The right thing to do when the market crashes is to just wait to see how deep the bottom is going to be. It's a good moment to stop paying attention to crypto market's fluctuations, so you don't get stressed and nervous about the prices. If you still have money available to invest, it's a good moment to do so, purchasing BTC for cheaper prices.

Gambling shouldn't be even considered as an alternative on this scenario, as it's quite obvious more losses will be accumulated that way...

[lionheart78]

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

The Bitcoin price in the market has nothing to do with my gambling activities.  Why would it affect my activity when I allocated a fix amount of money to gamble.  Besides, I do not use Bitcoin to gamble, but I use stablecoins.  That way, anything that happens in the market won't affect the value of my funds and I can enjoy my gambling session withour worries of my fund value getting lower.

[arwin100]

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

The Bitcoin price in the market has nothing to do with my gambling activities.  Why would it affect my activity when I allocated a fix amount of money to gamble.  Besides, I do not use Bitcoin to gamble, but I use stablecoins.  That way, anything that happens in the market won't affect the value of my funds and I can enjoy my gambling session withour worries of my fund value getting lower.

People might get disappointed on the value of their holdings they see, but actually same as you gamblers is not affected with situation happening in the market.

Gambling and trading is different, so people will provably continue to gamble. Because of these people always think that they might still get more bitcoins if they win rather than getting panic then always count its value. Price would eventually recover in future knowing Bitcoin still a great asset.

Same as you I don't usually bet using Bitcoin since I choose to hold it and just use if not stable coin, the other one which offer cheap feast and transaction speed is fast since they are more ideal to use if we talk gambling.

[Josefjix]

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

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.

He isn't loosing, so far as he keeps holding the required quantity of Bitcoin in his wallet, the coin is still intact, what makes him lose is when he'll sell off and start using it to gamble to be able to grab more quantity, that's when frustration comes in, that's where the trap of bear season kicks in and get such trader to be a victim of crypto crash and dump time.