Quote from: blockman on Today at 03:49:01 PM

Quote from: xSkylarx on April 24, 2025, 11:58:04 PM

Quote from: blockman on April 24, 2025, 10:53:42 PM

I think most of us understands that betting with Bitcoin, there's a huge gap of it between the rest of the altcoins. It seems that the majority bet with USD, stable coins and some other altcoins but we'll not use Bitcoin for betting especially the ones that are from our long term holding. The higher the price of Bitcoin, the wanting we want to hold of it longer. But the time will come that it will be easier for us to gamble with Bitcoin when the price becomes higher and we can play with some satoshis on it as long as the amount is tolerable and won't jeopardize the risk of losing our BTC holdings.

My feelings towards gambling with bitcoin are not much different. Considering it a long-term holding makes it very difficult to risk such a valuable asset. Most people seem to prefer stablecoins for gambling and I think that’s the case because Bitcoin feels too precious to be aday-to-day currency much less a casual spender’s currency. With every increase in its price, the urge to hold onto it and treat it as a store of value only gets stronger.

I personally consider gambling with Bitcoin something that is done for fun and not profit. There should be definite boundaries such as using only amounts that will not affect long-term investment goals if lost. Personally, I still recommend holding Bitcoin instead of risking it.

Yeah, we treat Bitcoin as precious and that's why we don't want to spend that much if we've got some alternative coins to be spent. But if we have no option, we won't be gambling all that we've got but we'll still make sure that we have remaining in our stash that's good for long term holding. And those that have a lot to spare with, they have no issues spending their Bitcoins with bets that they prefer and as long as they are going to enjoy it, it won't be a big problem to them because they know what exactly they're doing with it.

There are several types of gamblers where some gamble with money according to their ability to lose, some are ready to gamble with everything they have, some gamble with loans, and some gamblers who can even kill someone to manage money for gambling. So whether you can keep your Bitcoins safe despite your gambling habit will depend on which category of gambler you are. But I will say one thing that if someone sells his valuable asset Bitcoin and gambles, it will be the biggest mistake for him. Because if he spends those Bitcoins for some important reason, then even if he spends those Bitcoins, his important work will be successful. But if he sells Bitcoins for gambling, then he will completely lose those Bitcoins without fulfilling any of his needs.