Bitcoin Forum

A group of nearly 20 exchanges has released contingency plans in the event that the bitcoin network splits in two, creating two competing currencies. Details: http://www.coindesk.com/bitcoin-exchanges-unveil-emergency-hard-fork-contingency-plan/

I'd like to know the standing of bitcoin gambling games... Are they ready or people having coin with them may lose coins on one chain?

p.s. Above question is valid only for off-chain bitcoin gambling games, where we have to store our coins on site wallet before playing.

Here's bustabit's position: https://www.bustabit.com/statement-on-forks

I don't think all this forking drama is good for gambling. Gamblers need a stable coin that they can rely on. I wish the devs would work together instead of drama.  :(

4 hard forks in bitcoin until today , a fork is needed in my opinion , maybe some problems with  transfers if happen early , but the transfer comeback to your account is not valid.

Not a big drama

Im totally for Segwit and minimum 2MB block because todays fees is a killer. Its not normal to pay a buck for coffee just as fees.

I think the users like me and you with Segwit , miners with unlimited , we see...

Basically if you want to be safe, you should withdraw into your own wallet with a private key you control. Because with ETC there were issues with some exchanges that didn't want to give people their ETC.

Then there was that one exchange that lost most of the ETC due to some relay attack. So to be safe just withdraw it to your bitcoin wallet prior to the hard fork.

i like to think that gambling site will follow exchange like all merchants, gambling site can be seen as a merchants which offer a way for you to use bitcoin, i'm sure they will tell before the hard fork happen on which side moving to, and so you can avoid losing your coin, but at worst if bitcoin split, either chain will be ok, everyone will have double coins

Majority of gambling platform may treat BTU as an alt just like major exchanges. ETC is accepted by many gambling platform along with ETH right now after hard fork and it will be not surprising to see those gambling platform accepting BTU along with BTC in future.

For the moment a 2 MB block will settle the current issue we have at our hands and even i do think that the core would settle for that for the moment rather than opting behind BU or BS as a whole,transaction charges and delays are an issue and it has to be sorted out quickly for the growth of bitcoin,what role does a gambling site has when it comes to forking,they just have to follow the majority .

Forking drama is not good for bitcoin in general, not only gambling. It will only cause fear and uncertainty.
We observed it already after major exchanges announced that they never allow BTU to become 'The Bitcoin".
Price of bitcoin dropped from above $1200 levels to less than $1000 in few hours after this news.

Yes but in my opinion there will not be 2 indepedant chains like everybody presumes. What happened with ETH and ETC is completely different because the difficulty retarget for ETH is by the next block. With Bitcoin its every 2 weeks and the way the software is coded the difficulty can only change by a certain factor.

So imagine if 10% stays on the old chain, it will take 10 times as long to find a block, so 2 weeks becomes 20 weeks, and then the difficulty only drops slightly so it would take like 15 weeks for the next difficulty drop.

Transactions would be impossible to get thru, it would be chaos it wouldn't of survived.

I think the important thing to note is that the hash power is going to follow the price. If we assume that 10% of the hash power is on BTC and 90% on BTU.  But if BTC price is worth 20% as much as BTU then miners will find it 2x more profitable to mine on BTC and will switch.

So if you look at it, it's actually not that relevant what miners think. It's what the economic participants that matters. If after the fork the BTC price is greater than BTU price (which I strongly suspect it will be, and plan on right away selling all my BTU) then it *guarantees* that BTC is more profitable to mine than BTU. (Because BTU can only exist while there are less miners than BTC). If enough miners switch back to BTC to mine the most economical chain, then the BTU will literally cease to exist (because BTC is valid to bitcoin unlimited, but not vice versa). In fact that existential risk is going to work against BU making people less likely to want to risk selling BTC for something that can disappear.

What if one of the hard forks changes block time and difficultly retargeting so they mine blocks faster? Would the fork still be considered bitcoin?  ???

People(miners) will continue to find blocks only every 30 minutes or so, take a look at block explorers and see how many blocks the Core miners are mining every hour? they are mining with the same difficulty that they will have to mine after hard fork.
Only thing here that matters are exchanging services(community) when they say we won't list you as BTC if you fork it means forking is essentially a futile action, they won't get what they wanted simply they will become something else but right now BU wants bitcoin not altcoin.

Good topic RocketSingh!

Yup this is an interesting issue for the gambling sites.  So are they gonna accept both BTC and Bitcoin Unlimited just in case we end up with two chains?  And are they ready to protect their users against replay attacks?  Would they also recommend us to withdraw our coins as the hard fork is happening?  Wow that would be so bad for them, and also for us.  What if we have pending bets and our BTC's are stuck in a sports book?

I don't think so they are also into this issue, they are known as bitcoin gambling and probably they are going to focus with bitcoin core only.

Upon reading bustabit's statement ; they said that they are against BU.


I guess most of the casino's will probably have the same thought with this issue.

But what if BU becomes the dominant chain?  I think it would be good for them to accept BU and Core just to be safe.  You never know if one of these wise guys would dump on one chain.

this is why i keep saying there won't be a fork split as people panic it would be. instead we either continue seeing the same bitcoin continue the same way or we will see a fork and 1 singular chain in the future.
miners won't risk their million dollar investment to split and mine something that may be worth less and lose a lot of revenue even if it is for a short time. and this is not to mention all the other problems and attacks and exploits that may happen because of a split.

The only thing people should worry about is that the site they deposit their funds on will credit you the other fork coins in case of a split like what happened with ethereum.

Other than that, it should not matter for the service they provide.

There is nothing can be prepared when the fork happened, the gambling sites will keep on operating no matter what will happened to bitcoin, the one that is affected is the gambler who invest their money and how the casino cover their expenses, I can see some gambling site can closed down due to the hardfork

i think bitcoin gambling games site is not prepared much thing for the site and they still continue to open their site and still receive more members to play in their games. i think the only thing that they maybe do is make some upgrade for their site to work with the hard fork if its necessary but if its not, then they are not doing anything. i think this will happen too with other sites so we should not be worried about this and i am sure that the owner is thinking about the hard fork too like us and they will make some changes if they think its need.

If a Bitcoin fork happens, there isn't anything to do other than just watch it happen lol

Bitcoin Gambling exchanges don't have much to lose from what I am seeing because they will still get paid wehether that Bitcoin fork happens or not. If the Gambling Casino owners were smart then they would transfer their Bitcoins and keep a stash of fiat just so if something bad happens the guys could just purchase BU like nothing ever happened.

Indeed today there are 2 tension in the Bitcoin and this could give a bad impact on growth if it is not resolved properly. BTU does have a pretty good concept than bitcoin, but BTU enthusiasts also need to be able to soar like a bitcoin. So, even though the BTU succeed at launch but there are still many users who are interested in the venture will then bitcoin futile and does not give a good impact. About gambling sites, I am very confident that the user will follow where its loyal users using coin
 

I don't think this will really affect the gambling sites, though they might adop the hard forked coins in their casinos when it happens. For sure they would wait whether it would be a good choice to do it if there are plenty of gamblers willing to use the hard forked coins. Though, I think it will not supplant bitcoins right now.

I don't think so. Gambling site doesn't need any complex payment method to promote. They just need to complete their game. Gambling site don't need new coin that exactly unstable to use as payment.
You can see know most of gambling site just accepted bitcoin to deposit or withdraw, just little part of them use altcoins.

I agree, I am pretty sure that the Casino websites only have to update their payment systems and the games will be ready for playing. Bitcoin isn't something that needs a huge learning curve, so that means with more Bitcoin related projects being integrated into Bitcoin Casino websites the people should already know what to do if that fork happens.
The Casino website's admins could put Altcoins as a payment option if Bitcoin Unlimited fails.

There's nothing ever going to replace Bitcoin, they are just perusing delusion and I wish them all the best. The so called hard fork is not going to have any impact on gambling websites as their coin will struggle to gain the popularity and trust that Bitcoin possesses. It will be difficult to adopt in the first place let alone succeed in the cryptocurrency markets. It's dead on arrival!

Gambling site don't care if there is a hard fork in the future. And they want is to profit. Bitcoin or alt-coin will be accepted. Gambling business has benefited from bitcoin as mode of payment and will not easily give it up. Maybe they are just monitoring behind the scene and will just update their payment method as what have others suggested. Other than that, they are just sitting there, watching their wallet grow and profit from those gamblers lossing their bitcoin. ;D

I dont think gambling sites really care about what's going to happen. Their main aim is to just keep their customer base and adding a few more from time to time. If the fork does happen soon, I think they will just list BTU as alretnate payment method if the customers demand for it. It's all about demand and functionality for them.

Gambling platform may just support majority chain. And if there will be network split, it is quite sure that bitcoin core (BTC) will remain as major bitcoin chain. However during hardfork its better to not leave any bitcoin in gambling platforms, because you may not get some free BTU.

I don't think the gambling sites are prepared and they also not really know what should they do, they only can see and wait what will happened to bitcoin, will majority still used bitcoin or not, if not they will just moved to another coin, so this forking cause instability that affect all of the user and all of the bitcoin business aspect

Yeah it's not advisable to leave any bitcoin on your gambling account as the casino will have your btu when the fork happens. Investors who are invested in a casino's bankroll could lose a lot.

Imo most gambling sites might not even care about this upcoming fork as long as they're gaining bitcoin. It'll only matter for them once bitcoin becomes unstable.

What is there to prepare for? Isn't it just a matter of accepting another alt coin? Many casinos have been accepting alt currencies such as litecoin, dodge, etherium, etc, already for some time now. It's not like they have to revamp their whole deposit system or anything to accept another crypto. Just add another wallet to the player's account for whatever that currency is.

You are right here but there is one problem.

If you will have bitcoin deposited in some casino during the fork then they could pick for you the coin version they will choose.
So it is important for casino operators to state beforehand which version of the chain they will support.

Many wallet providers are already being prepared if the hard fork happens so the gambling houses should do the same and tag along with these wallets. They should keep a hot wallet with few funds and the majority in cold storage like they already do. I don't think the hard fork will impact bitcoin gambling in general.

me too I don't see any big effect from their business as we knew owners will support which is which in terms of continuing their business and by looking at it gambling site will still functional and nothing to worried about the fork that will happen as long as they have players and the wallet are still in good hands,.

Existing coins in site wallet will split into two. That is what to prepare for...

This is really an interesting question, while people are busy and wondering what is going to happen. No one thinks of gambling sites, this is really an interesting and unexpected question. I think they have thought about that for a long time, and I believe they have taken measures. Casinos always have a very large amount of bitcoin, so if BU builds, they will not overlook the opportunity to take it. Maybe they will pause their site briefly for maintenance reasons, or do somehow put all their money and a wallet, and reserve it there until the end of the deal.