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Author Topic: BTC getting too expensive to gamble with  (Read 7294 times)
DrGuns4Hands
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June 25, 2017, 11:52:29 PM

The rising price of bitcoin has really changed the way we deal with it. Transaction fees have become so expensive to the extend that when you gamble you will end up using what you have won on transaction fees. I think the bests way to gamble is to use a different crypto coin to gamble and later exchange with bitcoin.
yes im playing with a multiple crypto currency like altcoins. i used doge coin sometimes in gambling and trade it on bitcoin . i don't buy bitcoin im just working on it bitcoin is not meant to be bought you must earned it because if you buy bitcoin you have a capital from it and you can lose it anytime if you use it on gambling . there's a lot of ways to earn bitcoin.

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June 25, 2017, 11:53:09 PM

what do you mean expensive ? you don't have to bet with 1 btc ! just adjust the amount you want to bet with. but if you are looking for altcoins gambling i think you can play dice in exchanges  like "yobit,nova....'

Well...I'm not quite sure the dice site on yobit is such a good idea.  I've seen some very odd behavior with their dice feature and there's no way to prove their script.  In fact, huge portions of your personal betting histories just disappear so you can't even perform a statistical analysis audit of your own performances.

I tried to play dice on yobit and the only good thing there is if you want to enjoy dice for free, just go to their free claims of alt coins. After claiming you can now dice there for free.
Playing it for free is not fun for me because I know I can only claim a little amount and it is going to be a waste of time if I really aim to hit a bigger wins.
Maybe when I was new that was exciting because you do not have to risk anything but as time goes on, I have more to gamble so I also changes my betting minimum, so there's really no poor or rich in gambling, it is that you bet what you can afford to lose.

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June 25, 2017, 11:59:26 PM

what do you mean expensive ? you don't have to bet with 1 btc ! just adjust the amount you want to bet with. but if you are looking for altcoins gambling i think you can play dice in exchanges  like "yobit,nova....'

Well...I'm not quite sure the dice site on yobit is such a good idea.  I've seen some very odd behavior with their dice feature and there's no way to prove their script.  In fact, huge portions of your personal betting histories just disappear so you can't even perform a statistical analysis audit of your own performances.

I tried to play dice on yobit and the only good thing there is if you want to enjoy dice for free, just go to their free claims of alt coins. After claiming you can now dice there for free.
Playing it for free is not fun for me because I know I can only claim a little amount and it is going to be a waste of time if I really aim to hit a bigger wins.
Maybe when I was new that was exciting because you do not have to risk anything but as time goes on, I have more to gamble so I also changes my betting minimum, so there's really no poor or rich in gambling, it is that you bet what you can afford to lose.
Yeah its not fun if you are just play for free and no trill when you are playing.. that is why other people having fun with gambling if they are gamble with money..  We know that gambling is risky so just gamble that you can afford to lose  and just think that you gamble just for fun so that you can not lose a lot if you lose  in gambling..


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June 26, 2017, 12:07:10 AM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.

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June 26, 2017, 12:48:32 AM

What other cryptocurrency are you using and which casino are you playing at? BTC is getting to expensive to be depositing and playing in just BTC.

I'm using bitcoin currency on nitrogensports, because i'm a sportsbook lover and they are only accepting bitcoin as the payment. I though gambler are don't care about the price of bitcoin, i mean their main target is win their bet first. For me, i don't care about that, because my main base bet always 0.01.

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June 26, 2017, 06:16:18 AM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.

Well that might be true but it is still getting expensive as the transaction fees are huge and people now prefer to bet with Altcoins because of low transaction fees and fast confirmations.



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Rainbot
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June 26, 2017, 07:02:16 AM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.

The main problem for btc gambler is about the high transaction fee imho, if they have to make many transactions then they have to pay more and more fees. Regarding the minimum bet, I think 1mbtc is still acceptable (not too high) especially for sports betting.

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June 26, 2017, 08:34:03 AM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.

The main problem for btc gambler is about the high transaction fee imho, if they have to make many transactions then they have to pay more and more fees. Regarding the minimum bet, I think 1mbtc is still acceptable (not too high) especially for sports betting.

For sports betting it is acceptable but for luck-based gambling like dice or slots, 1mBtc is too high. In my opinion, Monero is the best coin for gambling but supportive gambling sites are rare. Bitcoin is volatile and may shoot up more in the upcoming months so spending them would not be a wise idea.

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June 26, 2017, 09:29:33 AM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.

The main problem for btc gambler is about the high transaction fee imho, if they have to make many transactions then they have to pay more and more fees. Regarding the minimum bet, I think 1mbtc is still acceptable (not too high) especially for sports betting.

For sports betting it is acceptable but for luck-based gambling like dice or slots, 1mBtc is too high. In my opinion, Monero is the best coin for gambling but supportive gambling sites are rare. Bitcoin is volatile and may shoot up more in the upcoming months so spending them would not be a wise idea.

Monero fees are high as well, probably the same as bitcoin if you want to achieve the best level of anonymity or even more than bitcoin in some cases.

BTC ifees s indeed getting too high to do microtransactions with. Blockchain based gambling sites are the most prone here. They basically operate on the model of low transaction fees, once this is gone there is no reason for them to exist.

I would suggest for now, either use Litecoin or Doge to gamble if you want to deposit/withdraw constantly.


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June 26, 2017, 09:50:23 AM

It is merely a ratio and nothing more. If bitcoin doubles in price you simply bet half the bitcoins you normally would. I really dont see the issue.

The rising price of bitcoin has really changed the way we deal with it. Transaction fees have become so expensive to the extend that when you gamble you will end up using what you have won on transaction fees. I think the bests way to gamble is to use a different crypto coin to gamble and later exchange with bitcoin.
Yes playing with altcoins is the best idea, we don't need to think about the price of the coin, and with the free mind, we can bet. After winning some coins, we can exchange that coins to BTC. If I lost bitcoins in gambling, i feel so sad because the price of the bitcoin is very high. Yup, nowadays bitcoin become too expensive to gamble.

+1 from me. Gambling should accept low value coins with low transaction fees like dogecoins.

I agree. It will attract more players. Not everyone want to bet high amounts so I get what you saying.

I think there are several gambling casino that is already accepting  dogecoins.  Though the idea of low value coins with low transaction fees is great, the drawback is if the gambling casino had made a mistake of accepting unstable low value coins with low volume trades, they might end up bagholdig worthless coins.  Anyway, there are already low transaction coins with low value that were accepted in different casinos.  Why not take advantage of them.

Not only dogecoin but casinos are now accepting eth and ltc as well as many other popular coins. Some of the coin developers starting making their own casino to make their coin active in the race of altcoins.

Either way, gambling is still expensive for all of us, even though we do have a lot of money for us to spend in gambling the point is the losses that we are going to make in the time that we are going to gamblr is too expensive, especially because of the bitcoin price right now is skyrocketing.

I'm still wondering why there are so many people who are taking the risk on gambling while there are a lot of choices to make that is not that risky like gambling.

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Satoshi wanted "small, casual transactions".


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June 26, 2017, 11:06:26 AM

No one gives a shit about price volatility, because they just want to gamble with an absolutely miniscule amount at a time.  That's the main benefit of crypto casinos.

So because you don't care much about volatility you can get away with using any useless cryptocurrency in existence.

ETH is expensive as well so just use DOGE.

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June 26, 2017, 03:12:15 PM

That's exactly why there are a lot of decimal places concerning when you're using bitcoins when you are gambling online. That's just basically it; it's all the same with just different currencies. There are a lot of ways you could safely use different things. Don't worry about the things that you've done you should know what you should do when you are making that choice to do it, better be ready for consequences.



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Rainbot
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June 26, 2017, 03:22:17 PM

What other cryptocurrency are you using and which casino are you playing at? BTC is getting to expensive to be depositing and playing in just BTC.

I'm using bitcoin currency on nitrogensports, because i'm a sportsbook lover and they are only accepting bitcoin as the payment. I though gambler are don't care about the price of bitcoin, i mean their main target is win their bet first. For me, i don't care about that, because my main base bet always 0.01.
that's right gamblers really doesn't care about the current value as long as they still bet with the actual amount of btc which converted with their fiat bankroll what matters to them is to win whatever games they've played its always been this way, gamblers will play no matter what btc's current value and that's for sure.

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June 26, 2017, 03:40:09 PM

That's exactly why there are a lot of decimal places concerning when you're using bitcoins when you are gambling online. That's just basically it; it's all the same with just different currencies. There are a lot of ways you could safely use different things. Don't worry about the things that you've done you should know what you should do when you are making that choice to do it, better be ready for consequences.
op just too early to make judgement , he might did not think clearly that time.

there is nothing called too expensive to gamble with when bitcoin itself indeed have a lot of the smallest unit and everybody could always accustome it to the amount in dollar or whatever currency you want to convert , it wasn't a valid reason to move to other currency , bitcoin still best as gambling currency.

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June 26, 2017, 09:22:37 PM

That's exactly why there are a lot of decimal places concerning when you're using bitcoins when you are gambling online. That's just basically it; it's all the same with just different currencies. There are a lot of ways you could safely use different things. Don't worry about the things that you've done you should know what you should do when you are making that choice to do it, better be ready for consequences.
op just too early to make judgement , he might did not think clearly that time.

there is nothing called too expensive to gamble with when bitcoin itself indeed have a lot of the smallest unit and everybody could always accustome it to the amount in dollar or whatever currency you want to convert , it wasn't a valid reason to move to other currency , bitcoin still best as gambling currency.

For me as long as you enjoy playing with crypto's I think you are all good. Whatever unit you can used to play then it will just fine. It you think that bitcoin is too expensive then look for altcoins, otherwise just stay with bitcoin. And by the way, if you are thinking its expensive because of the transaction fee, I think the fee is going down because the spam attack has already stopped and confirmation time should be quick by now.


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June 26, 2017, 09:40:28 PM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.
i do not think so. 1 bitcoin is such a huge price and i think still there are so many casino who do not have minimum price of 1 bitcoin. i think very little people can afford the 1 bitcoin limit for a single bet.


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June 26, 2017, 09:50:33 PM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.
i do not think so. 1 bitcoin is such a huge price and i think still there are so many casino who do not have minimum price of 1 bitcoin. i think very little people can afford the 1 bitcoin limit for a single bet.
You can adjust your bets into satoshi instead of betting high amount.. 1 btc high amount to gamble but if you are just gamble in dice game since before they are betting a minimum 1 sat using a bot so i think they need to monitor while they are gamble because it drain your bitcoin fast..
Just gamble that you can afford to lose because the price right now is too expensive you can relay in usd instead when you are gamble if can't afford better to save your bitcoin to get benefits of the price increase.

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June 26, 2017, 09:56:07 PM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.
i do not think so. 1 bitcoin is such a huge price and i think still there are so many casino who do not have minimum price of 1 bitcoin. i think very little people can afford the 1 bitcoin limit for a single bet.

I doubt if even the whales gamble out 1 Bitcoin in a single bet, it's just too risky to loose a lot in just a single bet so I think the casinos with 1 mbtc is comparatively better and even though not everyone can afford it doesn't make Bitcoin gambling expensive. What makes Bitcoin gambling expensive is the high network fees that needs to be curbed.



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June 26, 2017, 09:57:49 PM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.

It's true but the price of bitcoin is getting higher and other small time gamblers are thinking that it's already expensive even to gamble with 1 mbtc. In that case, that is making them scared to gamble with bigger amount as if they lose that's going to put some fears in their hearts. And also the fees are included with the price increase.



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Rainbot
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TrumpD
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June 26, 2017, 10:10:36 PM

Is not that BTC is getting too expensive to gamble with it is the fact that most casino sites have a minimum bet of 1 mbtc.


The minimum bet is an issue surely. I think this is what the OP was trying to communicate. Some casinos have adjusted their minimum downwards while others have refused to do so and in some cases increased the minimum,  making btc betting expensive.



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