Re: What impact does the BTC price have on your gambling habits?
Dear fellow gamblers, as title topic said, I have a question/survey for you!
What impact does the BTC price have on your play (gambling both in casino/sports betting/binary options etc)?
Did you play more? Did you play less? Any thought or opinion on that?
Feel free to add your answer on my survey
( I will add my answer on a second time ....
)
I usually have a gambling budget that is financed by my fiat earnings. This means that the price of bitcoin will have no influence on my gambling activities. But if my gambling account is financed by my bitcoin earnings, I will consider reducing the amount I spend on gambling because bitcoin is more profitable now and I am even searching for more means of earning more satoshis. I will not take the risk of gambling with my bitcoin when I can make more money if I keep it. What impact does the BTC price have on your play (gambling both in casino/sports betting/binary options etc)?
Did you play more? Did you play less? Any thought or opinion on that?
Feel free to add your answer on my survey
( I will add my answer on a second time ....
)BTC price itself don't really affect my gambling habits (directly at least) but there is some else that does. It is the transaction costs. When the tx costs low, I can send btc to the casino for a cheaper price and that makes me play more frequently. It makes more sense to deposit money while the cost of making a tx is cheaper obviously. However, btc price can sometimes affect the tx costs because the higher the btc goes, the more popular it gets and the more popular it is, the more people rush to the exchanges and that drives the tx costs up. So, I can tell you I often don't like to gamble when btc is going up. In these situations btc prices affect me in a negative way indirectly.
Although this is beyond the scope of this discussion transaction costs will have more influence on bitcoin gamblers' behaviour than the price of bitcoin. Transferring funds to your casino account might be too expensive to consider and this could lead to the reduction of the use of bitcoin for gambling.