Bitcoin Forum

Hi guys!
It has been a few crazy months for bitcoin and its price. Did that affected your gambling activities? Are you considering switching to for example Etherum?
What do you think is the greatest advantage and disadvantage of bitcoin gambling?
Yours OshiHugo, oshi.io casino CM

Ethereum's price has encountered huge volatility recently too, and overall gambling with cryptocurrencies has double risks/rewards, because the price of a coin might rise or fall after a player deposited it, and shift the total value change of a gambling session to either side. But Bitcoin is a bit less volatile that altcoins, so it's safer to use it for gambling. As for fees, it can be solved by depositing larger amounts once per month, for example, although it requires more self-control to not spend it all too quickly.

Why I should switch to Ethereum for gambling? I do not get the point of your question.

The thing is, it is unimportant whether you gamble in Ethereum or Bitcoin because the coins are exchangable very easy. When I use altcoins to gamble then because I can use much less pool on slots. Most Bitcoin slots requires a pool of at least 1 mBTC. If I want to stake less I just use slots with Dogecoins for instance where pool is 1 or 10 Dogecoins what is around 100 to 1000 Satoshi, thus a lot less.

Bitcoin will be better forever and will not lose its place of its benefits. It do not have any disadvantages for me but still if anyone want to add altcoins to his casino and someone want to gamble with altcoin then it is not bad but will be better for the casino owner and for the players.

You could do an even split between Etherium and Bitcoin to diversify. The will probably both gain value over time and both will also have a lot of price fluctuation in the short term. I like to spread my funds among several coins.

its been a roller coaster but the problems we were faced with bitcoin affected me in a positive way as i gamble less and avoid losing money

Not a chance, so much drama surrounding eth and i have never gambled with it either

Advantages are you grow your bank faster without the need to wait for price to go to the moon and have fun too and the downside of gambling is the risk is high and you lose money fast

When you are gambling your main concern is only on the activity your are doing, what you are saying is for investing.
Actually I heard from my friends that it's cheap to gamble using ethereum as it's faster and lesser fee but I don't try using ethereum yet since I am quite satisfied with gambling bitcoin. As this moment I don't gamble that much so it's not a big deal for me, I am still waiting for my favorite league which is NBA to formally open so I can start betting with big money.

In some way yes, i realized that I was gambling with more money then I used to gamble. I am talking about value of my bets, satoshi amount remained the same...
ETH NO! 
You don't have to give private information to anyone which isn't the case with fiat gambling sites. Somehow I think this will be regulated in future.

I switched to litecoins 2 months ago, it's ideal for gambling , stable and almost zero transaction fees. Confirmation is less than a minute and I just love gambling with it, ethereum is gradually becoming like Bitcoin so I wouldn't advice you to use that but litecoins.

I considered this at the time Directbet was here. But it actually makes no difference to me. Why bother switching when most of the best and safest sites don't accept altcoins ?

I find bitcoin a problem only when I am depositing or withdrawing where I end up paying a 3$ fee.

If your sportsbook is charging you a withdrawal fee it's time to search for a new sportsbook  ;) I haven't seen a sportsbook which accepts any kind of alt coins to be honest after Directbet closed shop. Dice sites might be an exception but I don't play it much anyways.

$3 fee is a lot, but you pay that only if you want your transaction go very fast. Since I rarely in a hurry I can see no point in switching to Etherum. I really don't mind waiting 24 hours or more for the first confirmation because I'm not literally sitting and waiting, I can do other things during that time.

not that much. i always gamble with the amount that i can afford to lose and that amount is also always a portion of my earning so i am still comfortable even with price rise.

no because it is a very unreliable altcoin in my opinion regarding the price and also the network. so i always prefer to keep my ethers on exchanges to be able to dump them as fast as possible and in case i see a pump coming to buy just as fast too.

and if i want to use an altcoin for gambling i would use something that is cheap and has a more stable price and a low fee. a coin such as Doge coin.

I am still using bitcoins to do my betting. I am planning to switch other coins but don't know which is better. You are right now ETH also becoming like Bitcoin so switching to ETH is not a good idea. Better I will switch to litecoin you said it don't have any transaction fee and the confirmation time also very less. So it saves my money and time.

The funny thing is that Etherum raise even more and so it does not make too much sense to gamble with etherum as it is also equally expensive as compare to the past. So if i cant gamble in btc anymore since it is getting too expensive, then i would select other alt coin that is cheaper like dogecoin etc.

Not really, still betting the same as last time but with a lower bet amount to maintain my bankroll. I don't have any plans of switching because if bitcoin's price crashes ethereum will start to go down too. Greatest advantage of bitcoin gambling is the no confirmation deposits and the greatest disadvantage on a bitcoin gambling site are those that kyc their players.

No it doesnt affect but sometimes confirmation times does took soo long when using up bitcoin specially when theres a congestion on network just like on FJ you can both use Bitcoin and Etherium on playing games on the site which means its people preference on what would they gonna use. Talking about disadvantage i cant see anything since they are both crypto that can be used to play gambling.

to avoid the fees yes use altcoin is good but it does not change everything from my gambling activities because i'm not the gamblers with huge amount of capital so the fees aren't problem for me but indeed to get fastest confirmations of transactions i usually use Doge or Litecoin but i'm not so often using those altcoin

correct,for trader,this situationmake them crazy and confuse about bitcoin price,it stable almost in one month,but i am sure it will not ffected for gambler,people playing gambling for money,and doesn;t care about bitcoin price,if bitcoin price going up when they won gambling,it was bonuses.
Etherum is good choice for gabmbling,i think it will same as bitcoin for gambling.

Many gamblers are migrating themselves to ETH now. I think the main reason are the expensive fees they must pay to transact Bitcoins, so AltCoins are a cheaper option to move from one to another site. But they could use any AltCoin, so why are they using especially ETH? Because the price volatility that is always increasing and sometimes fast? I think so.

I believe when Bitcoin be improved with the updates that are going to be done soon everything will come back to the normal and people will start gambling with Bitcoin again.

Why should I in the first place? Bitcoin or any other cryptp is still 1:1 when I used it on gambling so no difference at all as price doesn't matter to me in terms of my gambling activities.  I don't mind using either bitcoin or ethereum when doing gambling.

Switching might not be the right term but using other crypto alongside with bitcoin (only concerned I saw is the transaction time).

I prefer to use dogecoin however .
First of all dogecoin or any other altcoin has far lower fee than bitcoin and secondly it has faster confirmation compared to bitcoin.
It is the reaso why we have to switch to other altcoin but not to ethereum only i guess right?

It is not about the price of bitcoin that causes gamblers to switch to use ethereum for gambling, I think some of the reasons are due to the slow confirmation of bitcoin transaction on the network, and also the expensive transaction fees on bitcoins are causing gamblers to search for an alternative solution and ethereum was a good choice.

I hate to burst your bubble but Etherum is doing much better as well, its price together with other crypto currencies have been on a downward spiral and its really getting ridiculous now. I was expecting BITCOIN to be at $3500 by now but its not happening.

To be honest I think I am going to switch to eth, because the price more affordable and bitcoin transaction fee is very high and switching my gambling with alt coin is easier for me to control my gambling limit

I gave it a thought too at some point, but then I realized that Etherum loses its value faster than Bitcoin theses days, so now I don't know, it's probably better to stick to BTC.

Ethereum is a mess for gambling. Te blockchain is too bloated. Casinos would be better off accepting Litecoin until the scaling thing resolves. Litecoin has everything a casino would need to quickly handle out payments, it already has segwit, a bigger blocksize which is not important for Litecoin because its not a store of value, and it also has Lightning Network teams working on it.

So casinos get your shit together and start accepting LTC.

in future you may gamble with funfair (fun)coin...

This. I would rather use dogecoin than Ethereum because it has a faster confirmation time and lower fee. It just I'm having a hard time converting from dogecoin to bitcoin though. That's why sometimes I would rather play with bitcoin but as usual, the only reason not to is the high tx fee. But yes, dogecoin is really a good alternatives for me.

I dont think because of the recent volatility that has happened to bitcoin will now necessitate the dumping of bitcoin for another currency and aside that, I believe that in gambling the currency of choice does not matter as it is the multiplying effect of whatever is put in that one gets in return and the volatility is just a function of conversion as my 0.01 btc  is still the same thing whether equivalent is 20$ or 30$.

The price of etherium now this day is also red. Bitcoin has more involved gambling site to play while etherium is not, i can say that etherium is just selected in some site that able to gamble your money, so my answer will be both because of that situation. Using both is same expensive for me so if I'm going to play again i will rather use some new coins like doge,lite and etc.

Well during volatile periods its everything but bitcoin that dumps. As you say though if its worth little you will just bet a higher amount in btc and vice versa so unless the volatility is in the double digit % per day its going to have a tiny impact.

ETH is good choice, with the transaction speed faster rather than btc, also ETH casino recently pop-up, but for some people who play low amount is still strangle because ETH price nowadays jump pretty much significant.

I personally move to ETH and doge.
I play ETH sometime when I have coin which I can afford to lose.
With doge, I can play anytime I want, honestly I more enjoyed playing with doge.

No not really and there is no reason also for shifting because gambling with bitcoin or anyother currency won't increase my wins , it won't give me any sort of more profit then why switch and now lose ethereum instead of bitcoin. If you are planning to introduce ethereum gambling or something give a small bonus

Ethereum has always been volatile! Are you kidding me? You know volatile means up AND down not just down right? It's doing really crappy this month and has too many fan boys. So many other cryptos do the same things as ETH for cheaper.

All cryptos are volatile which its price do go down and up and as you said price of ETH movement on this month is too crappy it goes high and then go decrease too fast but still better since it didnt go back in to its previous price which is really great. Talking about using it on gambling games is also a good thing too confirmation were fast and also a good alternative and its better to have many choices on what would you use.

As of August 1st the whole confirmed faster part won't matter. Sure eth confirms faster, but you need to have way more confirmations than 6 to be sure you aren't getting a double spend transaction.

I think the real advantage of ether to bitcoin is the ability that it can program itself to spend itself on modes you want to explore. It has the features of bitcoin but it also have a smart technology that allows the user to program where it goes and I think that is what making people transfer to ether more than the prices.

People may be looking for alternative coins mainly because of high fee and slow confirmation not just because of its price volatility. Because all of us know that these cryptocurrencies are always very volatile and we already adjusted to these price fluctuations. But after August 1st if bitcoin transaction starts confirming faster with the lesser fee then things may change.

yes its affected with my gambling activities and makes me to stop for a while from playing gambling games. i think i don't want to switching to another coins, i will stick with bitcoin only or altcoin like dogecoin to place a bets. greates advantage of bitcoin gambling is we can use small amount to place a bets and disadvantage of bitcoin gambling is we still having a problem to win the games with only small bets and we need to continue playing to win the games and it will makes us to become addicted gamblers.

The price of the bitcoin is making me not to use more coins in gambling. Apart from that, i don't have any issues in transaction fee and confirmation time I know it will take the time to confirm, but I have the patience to wait. Only thing is the price whenever I lose bitcoins I feel very badly because I convert my lost bitcoins into my local currency if it's high amount i feel bad. That is why I am controlling my bitcoin gambling and planning to play with some cheap altcoins.

I as an avid gambler will never switch from bitcoin to Ethereum. If your sportbook is charging crazy fees every time you withdraw, I think it is time to lessen the withdrawals and also lessen the deposits by increasing the amount you deposit and withdrawing rarely. This way fees will not be a problem. Many sportsbooks like Nitrogensports and Sportsbet offer you to deposit once and when you withdraw for example in sportsbet you don't pay any fee, you pay fees only when you deposit. Even in Nitrogensports I believe you pay very low fee when withdrawing so not a problem with less withdrawals.

Switching to Ethereum is an extreme measure, it can be avoided by following the above guidelines.

Ethereum is the one coin I'll probably never get into, I've bought and sold some in the past, but after the split with ETC and ETH, I just don't trust it anymore.
It's entirely possible that something similar might happen again and I didn't like the way they've handled it the first time.

Doesn't mean I'd exclusively use Bitcoin, just other altcoins combined with Bitcoin.

As the price of bitcoin getting high people start babbling about how the fee transaction is way to heavy.
I just cannot imagine when the price of bitcoin rise to the highest and the fee 10 times bigger than now.
People might will get scared? Idk , they just cannot realize on how much money they have received during the riaing price. Basically use bitcoin or altcoin it is just the same.

I was disappointed too on the hard fork of ETH that results on ETC. I lost too much money that time. But for now, ETH is the best possible solution to switch once split happened on bitcoin. This is the only altcoin I trust for now even though I loss before. We must convert now or our money will be burned on hard fork of btc.

I think there are other altcoins which may be a better option right now for gambling, Bitcoin and ethereum, both are volatile right now. Just waiting for the segwit integration, hopefully everything will be positive.

Lets expect some positive results as mentioned by the above mate. Long back itself ethereum was accepted into several gambling websites, but very few use it for the gambling purpose. One thing in specific is that increased price has caused more users to prefer ethereum for gambling and now the price has fallen big compared to bitcoin.

eth have a better chance to become the crypto being use by most gamblers since its already been use as well by more crypto people
who already understand the chain and like what you have said i think there's also some crypto gamblers already exchange or will
exchange their btc to eth or other crypto while the fork is happening.

Vdice using ETH as their main currency for gambling. By looking ETH transaction volume, it will be compete for bitcoin in the future
And I think it's a right moment to buy ETH since all crytpcurrency decrease up to 10%-15%

I had switched towards ethereum betting when directbet was working because of high bitcoin fee we had to pay per bet. But right now there is no any such platform so there is no any difference between using ETH or BTC for gambling.

Both ETH and BTC have large swings on price this months. 

I agree, it was beginning to be more attractive to use Ethereum to gamble than using bitcoins due to the exorbitant amount of fees we have to pay per transaction (even if we only had one input and one output). Though right now the fees are going down and it is normalizing. I think the attacks on the blockchain has stopped due to the upcoming possible activation of Segwit on August 1.

You will just worry about bitcoin fees when the gambling site you play on are similar to direct bet or secondstrade, all else where there is a deposit and keep the money in the casino kind of thing, then there is no problem. Since in gambling sites where you need to deposit every time you bet, it is absurd to pay so much fees because you have to send money every time you bet.

But as you very well know the casino in which we are campaigning for is switching not necessarily to ethereum but to the ethereum classic version to what I am prevy too.

They did officially announce that litecoin is on the horizon very soon.
So ethereum should be soon to follow afterwards.

Best of luck to the ones who can make the transition flawlessly.

Nope, not switching to ethereum. my gambling activity was never affected, i'm happy with bitcoin gambling. if i ever considered switching/gambling with altcoin, i would prefer gambling with litecoin. :)

There is many good altcoins there, and one day I will gamble with one of them, but not with ethereum, I`m not attracted by that coin at all. Gambling with bitcoin will be one of my main activities for some time more, who knows how much, but for now there isn`t any coin that can replace bitcoin in my opinion.
Even betcoin.ag accepts litecoins from beginning of their existence, and eth from beginning of this year, I didn`t try to gamble with this two coins. With other altcoins I like more to trade and to stash some of them, that is my long term plan for now, but if price of some coins that I have go high I will try to gamble with them and make more if I can.

I think your wrong because most of the coins are down more than 15% from their recent peaks. Vdice minimum bet amount is quite high and I saw many people has suggested to admin to reduce that price but it looks they are ignored it. With current ETH price, 0.22 minimum bet is the very high amount and they should reduce it to get more players to try their games.

It doesn't affect me at all. The way I am playing with btc when I started is still the same up to now no matter what the price is. I also don't have a plan to switch into altcoin gambling unless the low prio-fee in btc become 500ksats. Then I would think of switching to alt.

That's your decision mate no one could argue that, keep it up and what you believed is better then stick to it. But for me if I look into possibility of winning big by using alts for gambling bets,  maybe I should switch on it. When we talk about ethereum gambling, I see it good to use because as of this time the price in the crypto market still rises up,  so profit can be so positive to earned as well.

that's also another thing to consider this eth got a lots of chance to grow overtime so when you got lucky winning some eth from the gambling site
and the value rise up from the exchange you will earn more that's also some advantage.

For the time being you should exit all position because you do not know what exactly will happen on 1st aug . So it's recommended that you sell and then buy later ETH.

even there's a lot of people think that ethereum has a lot of potential to become the biggest crypto currency threat bitcoin itself, i still don't believe it. no matter indeed eth could go up its popularity and the price. bitcoin would remain as a top currency to used to gamble , it's just the matter of time bitcoin could go back with the cheap fee and fast transaction.

Well ethereum still be altcoin and bitcoin will be still a mainstream of cryptocurrency..
So even  they are offering and adding a good feature bitcoin will be still stand the main crypto.. Honestly those other altcoin will not live if bitcoin never exist.. Look at the advantage of bitcoin its really accepting locally by some country and more country are accepting bitcoin and other websites and business online are accepting bitcoin as payment ethereum still not so well known coin honestly i only heard ethereum unlike bitcoin even in namecheap or steam you can heard bitcoin payment..

I don't know about others, but my gambling wasn't touched by bitcoin's price, cause of I gamble with bitcoins and get a prize in bitcoins, so, it's $ price doesn't play a role in that process.

I don't use altcoins too but atleast there're a bunch of options we can pick if something bad happened with bitcoin itself. If the situation forces me to switch to other coins, I'll choose ethereum or litecoin.

Well, it does not matter if you gamble with Bitcoin or cheap altcoin, its the total amount that matter the most. You can lost that amount in Bitcoin , altcoin or in FAIT gambling, so it really does not matter which currency you will use to gamble. The less you gamble with have less loss (in case of a loss) but also will be less profit (in case of a winning situation) . So Gamble with only the amount which you can afford.