Quote from: TPTB_need_war on April 29, 2016, 03:29:02 AM

Quote from: Herbert2020 on April 28, 2016, 01:23:18 PM

Quote from: TPTB_need_war on April 25, 2016, 06:11:45 PM

My point is that BTC is the unit-of-account by which everyone measures their gambling success, not fiat.

not really, for the good or bad, when people say their loss in bitcoin they are mentally measuring it in fiat. they just say it in bitcoin because they have used bitcoin and lost bitcoin. you never say someone say "aww that is a lot of bitcoin you lost" they say that is a lot of money. they will all multiply it with the price and then decide how big it was.

Disagree, because the are counting the Bitcoin's future value at $10,000+ per Bitcoin. They only care they earned more Bitcoin out of the trade. Whether they compute that in Bitcoin or fiat is irrelevant, because they want more Bitcoin. If they had a fiat loss but got more Bitcoin, they are happy. Because sometimes they will have a fiat gain but less Bitcoin, which is not what they want.

Edit: a follow-up post confirming my theory:

Quote from: cjmoles on April 29, 2016, 09:06:54 AM

Hmmm. I've been gambling online longer than I'd like to admit. I've had to use several methods over the years to get funds transferred to my gambling sites due to various restrictions in my region. I've used everything from phone credit schemes to Western Union....So, bitcoin does have an unrecognized value here in the gambling industry. I don't trade my bitcoin out for fiat....it's too valuable a gambling commodity! And, I do use my bitcoin to invest in alts to increase the size of my bitcoin holding. My bitcoin is reserved for gambling, period.