Are bitcoin gambling games prepared for an upcoming hard fork?

[RocketSingh]

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.

[RHavar]

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

[0xfff]

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. 

[apuestascoin]

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

[kolesozw]

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.

[apuestascoin]

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...

[adaseb]

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.

[Ayers]

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.

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

[Catmony]

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.

[SaShiRaJaVu]

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...

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 .

[Slark]

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. 

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.

[adaseb]

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.

[RHavar]

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.

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.

[0xfff]

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.

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? 

[ImHash]

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.

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.

[tokeweed]

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?

[boyptc]

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.

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

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

We are against bitcoin unlimited.

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

[tokeweed]

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.

[Herbert2020]

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.

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.

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.

[NorrisK]

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.