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Quote from: virasog on June 13, 2022, 03:15:50 PM

Gamblers around the world use crypto and bitcoin to play the bets. Do they really care if the bitcoin prices dump hard? I know traders are directly impacted by this dump, and investors are also in panic but what about gamblers. Their motive is to play gamble and they may not be a concerned if the price of bitcoin is declining sharply?

It seems to me that a gambler has nothing to do with his bitcoin market rise. If he is betting by converting to dollars then I think his assets are sometimes dumping the market There will be no effect. But this is completely opposite when you consider the case of an investor and trader. Their investment depends entirely on market conditions.

If the gambling sites depend on the value of the cryptocurrency then, it has a big impact on gamblers. But, I think that gambling sites use cryptocurrency which is not converted to USD since we all know that market is very volatile it can go up and down.

If the gambler has placed his bet in bitcoin or ethereum after the market has moved up or down or the market has changed.Gambler's Bitcoin will change. Stablecoins can also be bet directly on many betting sites.

If the gambler is betting with cryptocurrency that dumps and pumps like Ethereum then obviously I think that his gamblers nature will make him feel as if he is in a bad trade. At that point he might trade his coin for a stablecoin. But thats a mistake that people make without knowing whether or not their crypto will go up or down again. An if it goes up instead of down the gambler will have made a loss on his holdings.

So I think its best to either bet with stablecoins or not trade back and forth if the market isnt looking good.