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Author Topic: BTC getting too expensive to gamble with  (Read 7289 times)
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May 04, 2017, 07:28:25 PM
#61

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.
Currently not using any other cryptocurrency as most of them are expensive too. i'm gambling with bitcoin as bitcoin not as fiat, i'm gambling as i did when bitcoin price was at $400 or $600. i'm not a frequent gambler, i only spend <0.02 BTC.

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May 04, 2017, 08:48:13 PM
#62

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.
Currently not using any other cryptocurrency as most of them are expensive too. i'm gambling with bitcoin as bitcoin not as fiat, i'm gambling as i did when bitcoin price was at $400 or $600. i'm not a frequent gambler, i only spend <0.02 BTC.
Explain it to me because I don't get it.
What does it mean that it's expensive? AFAIK the lower limits in casinos are extremely low, so you can play with cents really. It shouldn't matter if you're paying $100 or $1000 for one bitcoin if you don't have to play with fixed amounts.
What if it costs $5000 next year? If people were thinking like you gambling would have died years ago, because people would decide that it's not worh to gamble since bitcoin went from $100 to $1000 in a year.

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May 04, 2017, 11:20:47 PM
#63

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.

Well for me I'm using BTC for gambling but some people use other cyprtocurrency like ETH or LTC thats because they say its more easy to deposit and more convenient but I haven't tried it at all, but soon I will. You are actually right BTC is getting expensive over time especially now its like $1k+ unlike before when it was just starting it was really low but now its really hard to get 1 BTC. In this generation BTC is really going to increase overtime thats because most people right now are connected to the internet. Base on the research of 2016 there are 100 million people who are currently using BTC, you can check in here => http://www.coindesk.com/2016-bitcoin-challenge-100-million-users/. So how much more in the future, it is really advance now in this generation and BTC is going to be big in the future for sure.  Wink

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May 04, 2017, 11:49:35 PM
#64

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 guess we expected this to happen but am still using bitcoin because the other cryptocurrencies am holding can not be used for any gambling pleasures and am a bit reluctant in getting altcoins because there is a high risk of whales wanting to dump their hold should there be a bull run of the alt   
and might end up losing on my short term investment.

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May 05, 2017, 02:55:30 AM
#65

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.

When it comes to alt coin gambling there's only one stop for me. Its fun to visit yobit's dice game because you can get a lot of dead coins and just dice it away. And this is only good if you are just looking for the fun side of dicing. But if you want serious gambling, you can go at betcoin.ag they are accepting BTC,LTC and ETH.
Serious gambling, are you serious? Cheesy

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May 05, 2017, 03:03:28 AM
#66

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.
now I use altcoin like doge and eth because many are having problems with bitcoin transactions even though I have never experienced that problem. I play in betcoin.ag and also in directbet because there are still many sportsbooks that are not available in betcoin.ag.
Wait a second!

Because many other sportsbooks are not available at betcoin.ag, you bet at DirectBet, because there are many other sportsbooks available?

But if many sportsbooks are not available at the betcoin.ag scam, why do you not bet at the many other sportsbooks, instead? This is at least what someone with a brain would do....

Here is also a sportsbooks list: Bitcoin Sports Betting sites with consumer protection service


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May 05, 2017, 03:09:31 AM
#67

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 dont mind on using other altcoin on playing gambling since i do have set an amount for me to play on a particular day on a week thats why i dont care at all if bitcoin is expensive or not. Using alts is only good when you are on a hurry specially on transfer times/deposits because they do confirm very fast compared to bitcoin.

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May 05, 2017, 03:22:09 AM
#68

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 dont mind on using other altcoin on playing gambling since i do have set an amount for me to play on a particular day on a week thats why i dont care at all if bitcoin is expensive or not. Using alts is only good when you are on a hurry specially on transfer times/deposits because they do confirm very fast compared to bitcoin.
When it comes to confirmation times then altcoin does really have the edge but comparing the usage or bitcoin compared to altcoins then BTC is on par. Most people do prefer to use bitcoin no matter what would be the current price as of now seeing again its almost hitting $1600 which is already high but if you are playing basing on local fiat rate then its just fine and theres no difference.



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May 05, 2017, 06:37:15 AM
#69

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.
Currently not using any other cryptocurrency as most of them are expensive too. i'm gambling with bitcoin as bitcoin not as fiat, i'm gambling as i did when bitcoin price was at $400 or $600. i'm not a frequent gambler, i only spend <0.02 BTC.
Explain it to me because I don't get it.
What does it mean that it's expensive? AFAIK the lower limits in casinos are extremely low, so you can play with cents really. It shouldn't matter if you're paying $100 or $1000 for one bitcoin if you don't have to play with fixed amounts.
What if it costs $5000 next year? If people were thinking like you gambling would have died years ago, because people would decide that it's not worh to gamble since bitcoin went from $100 to $1000 in a year.
I think you didn't get it what i said, i gamble bitcoin as bitcoin i don't care if it's value is $5000 or $500. i will still gamble! the expensive part was about altcoins, they're all in bubble and are expensive. that's why i don't own them, all the altcoins will go down hard once bubble is popped and bitcoin will keep rising/be steady.

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May 05, 2017, 07:04:33 AM
#70

Satoshis are still cheap right? Why not play for them?

It doesn't matter if you are playing with less bitcoin if the fiat value is the same ultimately.

Alternatively you can use a casino that accepts eth or litecoin or even dogecoin.

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May 05, 2017, 08:23:57 AM
#71

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.

That doesn't even make sense, wtf

You want to bet a 100$?
Bet equivalent of 100$
Want to bet 10$?
Bet equivalent of 10$

That doesn't make any sense
There's always mBTC and Satoshi for easier counting

However, you can always bet with dogecoin, you'll feel you're betting millions (because you literally are)
that's true , you just need to adjust it and there's nothing changed. it's even gives you benefit when bitcoin price in bullish , in rising trends. that was not a reasonable reason to switch your currency into altcoins to gamble. bitcoin would still remain as the most cryptocurrency used to gamble. gamble with altcoin even not recommended at this point , the volatile price could hurt your profit.

Basically you buy 100$ worth of bitcoin
You play a 1.6 slip
You won 160$
But wait
Bitcoin grew 30%
Now you have 208$

Wow, we surely love betting with bitcoin  Cheesy
Saying bitcoin is too expensive to bet with literally doesn't make any sense
0 sense
yeah with bitcoin price skyrocketed like recently it's actually should make people be more excited to gamble with bitcoin . this is really doesn't makes any sense unless op are one of many altcoin developer who in mission to promoting and encourage people to switch their currency to gamble in crypto casinos , then it's makes sense.

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May 05, 2017, 10:57:21 AM
#72

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.
Currently not using any other cryptocurrency as most of them are expensive too. i'm gambling with bitcoin as bitcoin not as fiat, i'm gambling as i did when bitcoin price was at $400 or $600. i'm not a frequent gambler, i only spend <0.02 BTC.
Explain it to me because I don't get it.
What does it mean that it's expensive? AFAIK the lower limits in casinos are extremely low, so you can play with cents really. It shouldn't matter if you're paying $100 or $1000 for one bitcoin if you don't have to play with fixed amounts.
What if it costs $5000 next year? If people were thinking like you gambling would have died years ago, because people would decide that it's not worh to gamble since bitcoin went from $100 to $1000 in a year.
I think you didn't get it what i said, i gamble bitcoin as bitcoin i don't care if it's value is $5000 or $500. i will still gamble! the expensive part was about altcoins, they're all in bubble and are expensive. that's why i don't own them, all the altcoins will go down hard once bubble is popped and bitcoin will keep rising/be steady.

but there should be a point when you stop or slow down gambling.
lets say you are making bets with a 2BTC bank roll and price is $500 so you are taking a $1000 risk by gambling and your loss can potentially be maximum of $1000.

now lets say price went up to $5000 and you (based on what you said) still have the same bankroll. that means you are taking a $10,000 risk.

are you still willing to do it?

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May 05, 2017, 12:22:47 PM
#73

Your mindset is like that, And you look only for BTC, not that value, so you don't care for BTC price increase. But many people will place a calcultaed bet. They will calculate the betting amount and place the bet. Because they need that extra money. Yes for example last week 0.02 BTC value is now almost 20% increase. If we keep that 20% amount means it is one type of profit. For me, the BTC is getting a bit expensive to gamble.
I don't mind much about the price increasing because the price could easily go down after a week. Imo I think it's a hassle to gamble with bitcoin then convert it to fiat just to get the exact value you want for every bet. What if the price of bitcoin crashed in a day then your calculation is ruined. Don't get me wrong I still like that the price is slowly increasing but when I gamble I see btc as btc.

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May 05, 2017, 02:16:16 PM
#74

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 don't think you really have any option. Most alt coins are sky rocketing as well, so you would feel the same. You can just gamble with less.
An option could of course be DOGE maybe. I don't think gambling with DOGE is very expensive.

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May 05, 2017, 02:37:26 PM
#75

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 don't think you really have any option. Most alt coins are sky rocketing as well, so you would feel the same. You can just gamble with less.
An option could of course be DOGE maybe. I don't think gambling with DOGE is very expensive.
But doge is accepted with few gambling websites. Most others prefer bitcoin for gambling, though it is increasing with respect to time the low denomination splitting gives every user to spend the desired amount unlike the price increase or decrease happening with bitcoin.



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May 05, 2017, 03:56:52 PM
#76

Exactly, he really mean to play same amount in fiat rather than on quantity of BTC due to the expensive price. Personally, My bankroll was 1BTC when BTC is equivalent to 1000$ but now, I lower my bankroll due to price surge of BTC.

Exactly

I mean, you just need to set an amount of money you'll deposit in FIAT instead of the amount you'll gamble
Rise of value in bitcoins is good for your gambling, not bad!

Smiley

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May 05, 2017, 04:32:34 PM
#77

Well even it's getting to expensive I'm still gonna use it because i get more profit from it than other crypto currency but at the same time im using altcoins like doge coins in gambling because its more way cheaper than bitcoin . but the profit from it was not like on bitcoin because of the price difference. i hope you get my point. im living that way that's why im earning a lot of money every week in gambling.

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May 05, 2017, 05:11:15 PM
#78

Bitcoin gambling is still less expensive than fiat gambling, but there are some problems. First, it's transaction fees, right now they are too high for on-chain games, and just add up to some significant sums for those who deposit often. So, altcoins with cheap transaction fees like Ethereum are better for those purposes. The second problem it Bitcoin growth - since gambling has negative expected value, you can consider it as a spending, and with time your past losses keep growing. If you lost $10 one year ago, those money would be $30 today. But the opposite is right too - if you win in bitcoin gambling and save it for later, you'll get much more USD in the future. So Bitcoin gambling is kinda like leveraged gambling, when converted to fiat your losses/winning are multiplied as BTC keeps growing. The same is true for altcoins.

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May 05, 2017, 05:51:36 PM
#79

Exactly, he really mean to play same amount in fiat rather than on quantity of BTC due to the expensive price. Personally, My bankroll was 1BTC when BTC is equivalent to 1000$ but now, I lower my bankroll due to price surge of BTC.

Exactly

I mean, you just need to set an amount of money you'll deposit in FIAT instead of the amount you'll gamble
Rise of value in bitcoins is good for your gambling, not bad!

Smiley

Yup the price will change my bankroll. Before I use to play some high amount but now I  reduced my betting amount because of this price increase. I know while playing gambling games with BTC we do not convert it into fiat currency, But some calculated gamblers like me will think about the value of our bet amount.   
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May 05, 2017, 05:59:29 PM
#80

Exactly, he really mean to play same amount in fiat rather than on quantity of BTC due to the expensive price. Personally, My bankroll was 1BTC when BTC is equivalent to 1000$ but now, I lower my bankroll due to price surge of BTC.

Exactly

I mean, you just need to set an amount of money you'll deposit in FIAT instead of the amount you'll gamble
Rise of value in bitcoins is good for your gambling, not bad!

Smiley

Yup the price will change my bankroll. Before I use to play some high amount but now I  reduced my betting amount because of this price increase. I know while playing gambling games with BTC we do not convert it into fiat currency, But some calculated gamblers like me will think about the value of our bet amount.   

That is true, BTC price doesn't make difference in gambling game. You just need to adjust the rates proportional to fiat. Decrease your bet in BTC and you will continue betting the same amount (in fiat) you bet before. But maybe OP thinks it's becoming worthless to bet with Bitcoin, because it's not good to lose BTC as the price is constantly increasing. If you lose 1 BTC today gambling, you will complain a lot about it tomorrow.

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