Post
Topic
Board Gambling discussion
Re: I just realized that Bitcoin isn’t the best choice for gambling…
by
Fivestar4everMVP
on 14/12/2024, 14:55:40 UTC
You are right, and I do agree with you, it is always better to hold bitcoin and gamble with either Altcoin or stable coin, but the best (for me) for gambling is stable coin, like I have explained before in an earlier comment on this thread, stable coins are more stable in their price, so let assume one gambles with $100 in stable coin and loose it, the chances are very high that even in the next 10 years coming, that $100 loss will still be valued at $100.

But let's assume you Gamble with $100 worth of bitcoin today, and lost it, then like we have seen, the chances are very high that in the coming 5 years, that $100 worth of bitcoin that was lost will be now valued at $1000 dollars, because the price of 1 bitcoin has risen so much.

So, for me, stable coins remains my only currency for gambling on cryptocurrency casinos, and when it come to local casinos where I get another option for payment, I will gamble using my local currency.

In fact, if you lose $100 today, in ten years those $100 won't even be equal to themselves, and in fact that future loss will be even smaller, since the purchasing power of $100 in ten years will be significantly lower than it is today. So losing $100 today is not the same as losing it in ten years. It's better to lose $100 in ten years than to lose it today) But it will be even better not to lose those $ 100 equivalent in BTC. Because in 10 years this BTC amount will cost definitely more than $ 100.
You are right with that statement that "it is better to loose $100 in the future than loose it now", definitely true since inflation must have must dealt with the currency by then, causing it to lose purchasing power as you said, but something I think you failed to realize is that, we don't live in the future, no body is living in the future or has that ability, we live in the present which is today and now, as time progresses, humans progress with it, this is why it's impossible to tell what will happen tomorrow or even in the next minute or hour.

We live for now and the currency we choose to use for gambling is valued based on its value now, we can still make decisions based on our future prediction for the currency, but it's impossible to use tomorrow's value of a currency to play gambling today, but if you think it's possible, then please teach me how ☺️☺️