Does the price of bitcoin generally influence your gambling decisions?

[Pikiboy]

This question is for those who usually gambles with bitcoin. I want to know how the bitcoin price influences your gambling decisions? Do you stop gambling at the moment when the price drop insignificantly or you don’t mind whatever that may holds of the price just to satisfy your gambling desires?

Please share wisely if those gambling with bitcoin could likely change their ways of gambling with bitcoin to other cryptocurrencies. But guess what? Apartment from stable coins don’t you think the bitcoin price also influences every other altcoin out there?

[Charles-Tim]

This question is for those who usually gambles with bitcoin. I want to know how the bitcoin price influences your gambling decisions? Do you stop gambling at the moment when the price drop insignificantly or you don’t mind whatever that may holds of the price just to satisfy your gambling desires?

I prefer to use bitcoin to gamble during bull market, not this time.

Please share wisely if those gambling with bitcoin could likely change their ways of gambling with bitcoin to other cryptocurrencies. But guess what? Apartment from stable coins don’t you think the bitcoin price also influences every other altcoin out there?

I use USDC to gamble during bear market. But since I have some incentives given me by Stake.com in USDC, I only use USDC to gamble during bull and bear market for now.

Yes, bitcoin price influence other coins prices. If bitcoin rise in price, almost all other coins will rise. If bitcoin fall in price, almost all other coins will also follow by falling. But altcoins are volatile than bitcoin.

[Perfectbaby]

Presently I no fit advise any person to go gamble with bitcoin because the price is bleeding and from the looks of things we fit even see am around $59k so why person go even carry money wey them suppose hold as investment go waste for gambling wey be say other usdt dey to carry gamble than say person go use bitcoin gamble. This na very bad choice or decision wey that person don take be that even if the person much cared about privacy e no good and e no dey advisable at this moment wey things never pure.

[Rockson1]

Presently I no fit advise any person to go gamble with bitcoin because the price is bleeding and from the looks of things we fit even see am around $59k so why person go even carry money wey them suppose hold as investment go waste for gambling wey be say other usdt dey to carry gamble than say person go use bitcoin gamble. This na very bad choice or decision wey that person don take be that even if the person much cared about privacy e no good and e no dey advisable at this moment wey things never pure.

With any you said, it means that the best advice you can give someone is to hodl the bitcon they have and even buy more, if that is the case then you are very on point, but sometimes I get pissed with the way some people reacts when the price of Bitcoin drops, the act as if we have not seen this in the past, there was a time Bitcoin was $10k and there about, by now most investors knows what bitcon is made up, the features of Bitcoin which volatilty happens to be one of them is not a respecter of any person, although there are factors that can influence the price of Bitcoin as we know, as investors we should not be so fast to make decisions that we might regret if care is not taken.

[Shadiq]

Currently, holding Bitcoin may be the most profitable option, I don't see much benefit in losing Bitcoin by gambling. However, it is true that the price of Bitcoin has some effect on gambling, since in a bull market there is not much pressure to invest, so the supply of money for gambling is slightly higher. Since it is more profitable to buy and hold Bitcoin in a bear market, there is a comparative investment pressure. However, for an addicted gambler, Bitcoin's price cannot be affected, for him gambling is valuable. My personal advice is to gamble as little as possible and especially to refrain from gambling with Bitcoin.

[Perfectbaby]

Presently I no fit advise any person to go gamble with bitcoin because the price is bleeding and from the looks of things we fit even see am around $59k so why person go even carry money wey them suppose hold as investment go waste for gambling wey be say other usdt dey to carry gamble than say person go use bitcoin gamble. This na very bad choice or decision wey that person don take be that even if the person much cared about privacy e no good and e no dey advisable at this moment wey things never pure.

With any you said, it means that the best advice you can give someone is to hodl the bitcon they have and even buy more, if that is the case then you are very on point, but sometimes I get pissed with the way some people reacts when the price of Bitcoin drops, the act as if we have not seen this in the past, there was a time Bitcoin was $10k and there about, by now most investors knows what bitcon is made up, the features of Bitcoin which volatilty happens to be one of them is not a respecter of any person, although there are factors that can influence the price of Bitcoin as we know, as investors we should not be so fast to make decisions that we might regret if care is not taken.

Well you can’t actually factor out what would be in the mind of people to know what decisions they could take or not, the most important is that’s you should be taken the right decision at the right time. And of course, there are people whom I wouldn’t encourage to gamble with bitcoin now that the price is on strong decline, holding is the best option than keep using their hands earned bitcoin to gamble for me they are indirectly wasting their their precious investment which they should be holding by now than using it to gamble.

[Chibit01]

I can't remember the last time I spent bitcoin to gamble. What I use is fiat and stablecoin. Anything that has to do with bitcoin. I see it as an asset that could give me profit unless when I'm ready to take out profit, I don’t think of spending my bitcoin, especially when value is decreasing I see it as wasting it because the value is below what it should, I stick with my regular spending currency.

[Itz-prisigold]

Personally, I'm not fond of gambling when price of Bitcoin is rising though, because I think to myself "what those coins could actually worth once the price of Bitcoin goes up",  when you lose a bet, you are not only losing money at that particular moment, you are also going to miss out on future gains too.

And secondly I don't actually believe that switching to another altcoin is going to bring a lot of difference because most of them will still follow Bitcoin's lead anyway.  For me, the most important thing is sticking to a budget and only gambling with an amount I'm comfortable losing, regardless of what the market is doing.

[Pikiboy]

Currently, holding Bitcoin may be the most profitable option, I don't see much benefit in losing Bitcoin by gambling. However, it is true that the price of Bitcoin has some effect on gambling, since in a bull market there is not much pressure to invest, so the supply of money for gambling is slightly higher. Since it is more profitable to buy and hold Bitcoin in a bear market, there is a comparative investment pressure. However, for an addicted gambler, Bitcoin's price cannot be affected, for him gambling is valuable. My personal advice is to gamble as little as possible and especially to refrain from gambling with Bitcoin.

We know that vast majority of people wouldn’t accept to gamble with bitcoin as they could be doing accumulation right away and if you tell someone to gamble with bitcoin currently I would assume that you are pushing such person to go waste their investment because if they hold now till when bitcoin could recover you would see that they will make enough profits by holding.
Although at perilous time like this holding is the right option than keep gambling with their previous bitcoin as I believed that gambling site makes more profits by holding bitcoin on the bear market, this is what discourages major people not to gamble With bitcoin because they believe and felt that they are losing higher than expected or than profitable they could be when the market is on bullish trend.

[ArabBTC]

To me the price of bitcoin completely have no influence ones gambling decisions, first we have to understand that gambling is a habit built over time, gambling is not something that is easy influenced because its a secondary habit which is born out of people’s quest to increase or double their current income, this gamblers end up having high expectation’s most times, the fluctuations in price of bitcoin have no effects on one’s gambling decisions, i feel what can affects one’s gambling decisions is if he/she have a different habit that will distract him from gambling.

[Sammye3]

This question is for those who usually gambles with bitcoin. I want to know how the bitcoin price influences your gambling decisions? Do you stop gambling at the moment when the price drop insignificantly or you don’t mind whatever that may holds of the price just to satisfy your gambling desires?

Please share wisely if those gambling with bitcoin could likely change their ways of gambling with bitcoin to other cryptocurrencies. But guess what? Apartment from stable coins don’t you think the bitcoin price also influences every other altcoin out there?

Bitcoin in this current phase could be experiencing consolidation phase so it does not make a lot of big moves that one could gamble on. During the bull season, you could see massive bitcoin run that could secure good profits when a trader gets in early and get out just in time.

This purpose is mostly for short term traders, as long term traders do not really matter whether Bitcoin rises or falls but choose to hold for long term.

[Adbitco]

I can't actually recall when I have gambled with bitcoin because I see that using bitcoin to gamble is like enriching the gambling site because whenever the market increases you see them making enough profits from those who has gambled and lose on their site, i know that are people who are also winning but if we must know, winning chances is extremely very poor so that the casino has a higher chances of enriching themselves than those who are gambling. Gambling with stablecoins is much preferable as you wouldn't have anything to lose when the decrease or increases.

[Son Of Blockchain (SOB)]

I can't actually recall when I have gambled with bitcoin because I see that using bitcoin to gamble is like enriching the gambling site because whenever the market increases you see them making enough profits from those who has gambled and lose on their site, i know that are people who are also winning but if we must know, winning chances is extremely very poor so that the casino has a higher chances of enriching themselves than those who are gambling. Gambling with stablecoins is much preferable as you wouldn't have anything to lose when the decrease or increases.

You've just said my mind, instead of using a precious coin like Bitcoin for such which I might likely lose to the house, I'll rather use a stable coin with an amount i can spare to it. People don't really understand how valuable Bitcoin is, even the tinest amount of it has the probability of being valuable overtime so it's not something to gamble with.
 Yes bro, that's another good point, if the chances of winning as a gambler was higher compared to that of the house, I would've risked gambling with Bitcoin but then the house has more edge which put them in good position to collect my Bitcoin that's why I think using stable coins for gamblinh is better.

[Coin_info]

Please share wisely if those gambling with bitcoin could likely change their ways of gambling with bitcoin to other cryptocurrencies. But guess what? Apartment from stable coins don’t you think the bitcoin price also influences every other altcoin out there?

By my guess I feel like many Nigerians do not use Bitcoin for betting, our favorite option for betting is first our local naira, This is why you notice that many Nigerians have sporty accounts and it is only a few of them that know about crypto betting and who use cryptocurrency for betting and out of the few who use cryptocurrency for betting many of them use stable coins for betting and not bitcoins. The reason is obvious for this because they're trying to keep track of the gambling activity by using a stable coin that they can easily calculate So if gambling is already a culture and a habit for someone who uses a stable coin to gamble they would not consider the price of Bitcoin currently, they already have the structure that they follow for gambling and will stick to it.

[Crakryptvest]

I can't remember the last time I spent bitcoin to gamble. What I use is fiat and stablecoin. Anything that has to do with bitcoin. I see it as an asset that could give me profit unless when I'm ready to take out profit, I don’t think of spending my bitcoin, especially when value is decreasing I see it as wasting it because the value is below what it should, I stick with my regular spending currency.

As valuable as Bitcoin is, I don't think anyone should because of price fall to gamble with Bitcoin that's bullshit, I can't remember doing that and I don't think I will ever do that, when the price of Bitcoin dumps, we should be very careful because that's when some silly thoughts will be coming to you as a person, I believe we all have our goals and reasons why we started investing in bitcon at first, it is not a smart move for anyone to gamble with such investment just because it drops at some point when we know that it will surely rise again.

[Ishicryptic]

If you use Bitcoin to gamble then the price will affect you in bear run like we're currently experiencing now, it would be a double lose for you if the value of your Bitcoin is reducing and you lose your bet. But if it is bull run then you wouldn't mind to use Bitcoin to gamble because you're mostly in profit even if you lose you wouldn't mind because your gambling account is funded by your profit. Like many crypto gamblers I prefer to use stablecoins to gamble because it is not volatile like other cryptocurrency and you don't have to worry whether it's Bitcoin bull run or bear run.