The Effect of the Bitcoin Halving on Online Casinos

[Questat]

But not like now.yeah it happens many time before but these days?it has really huge amount that cannot be afford by small withdrawals .

I guess with this big withdrawal fee, people will think of moving to altcoins, and it's just timely to see the gambling sites have already added a lot of altcoins as an option for deposit and withdrawal.. I haven't transact using ETH for now, I'm sure most gambling sites have ETH since it's the most liquid altcoins in the market, but anyone here transacted lately, please tell us how much is the fee per transaction, like the average.

[smyslov]

But not like now.yeah it happens many time before but these days?it has really huge amount that cannot be afford by small withdrawals .

I guess with this big withdrawal fee, people will think of moving to altcoins, and it's just timely to see the gambling sites have already added a lot of altcoins as an option for deposit and withdrawal.. I haven't transact using ETH for now, I'm sure most gambling sites have ETH since it's the most liquid altcoins in the market, but anyone here transacted lately, please tell us how much is the fee per transaction, like the average.

Really high right now, even if you play right away, you can't because it takes several minutes to an hour before it gets confirmed and landed in your wallet the best option right now is to use Doge and XRP if they have it, Ethereum is also ok, as long as it's cheap fast and we can easily liquidate, that would be fine.
 

[Becky666]

The writer went on to add why the halving is special for online gamblers: Potential Gains!
He/She assumes that gamblers will hold their BTC winnings because of the potential that it will pump to $100K or to whatever price as an effect of the halving.

    If Bitcoin price rise, as most of us expect, people who like to gamble with Bitcoins will have to lower their bets
probably. For us who play with minimal bets all the time, we will have higher minimal bets, because there's no
lower than 1 satoshi bet.
    Where are big wins, there are big loses too! If Bitcoin price rise and you lost you coins with gambling you will
regret that decision to gamble.

Some of my Gambling aren't done through bitcoin because of the highest fee demands through these gambling platforms. There are many ways to go about this: switch through altcoins and not still gambling the bitcoin make the difference. Most of my gambling these days are done through ethereum or doge tokens and am not running at lost as I have seen. Bitcoin fees has increased since the bitcoin halve took place and for those who still find their ways to use bitcoin for gambling should have a rethink. Although, this high fee for bitcoin will definitely go down soon, but before that, stay with altcoins.

[dothebeats]

Bitcoin and not the halving in particular is what's really shaping up the online gambling scene as of late. Halving has nothing to do with all the innovation and improvements that casinos have seen within the past few years on their platforms IMO. The surge in people wanting to try online casinos w/ cryptocurrencies is mainly driven by the demand of people who opted using bitcoin and other cryptocurrencies for their online gambling adventures. Halving only cuts the block reward in half, and idk why everyone wants to overcomplicate things and try to pin the event into somewhere else.

[Hippocrypto]

i see . btc halving increases adoption for btc but that was it ? i thought i will see other reasons on why people will now use btc when gambling because there are infact many good cryptos to gamble aside from btc .

  also i think we should value our btc nowadays because btc is now harder to mine  and also the value is expected to grow . i use btc when i play before but after ive tried alts , i prefer them now more than btc for a good number of reasons.

Maybe that good to spend our btc holding when we're having much of it, but for now let's choose to hold it. Growing bitcoin nowadays is more harder compared of before due to slow demand, so it's very important to value this coin. Alts is our only way to prefer for gambling purposes, because most of them is not really moving impressively in value.

[Renampun]

I tried to transfer $50 worth of Bitcoin from one wallet and using the Green wallet to transfer and the minimum fee/gas that lets me transfer that amount was $8, think of that if you are trying to transfer on one gambling sites, I still support Bitcoin on gambling but at this point in time, it's not recommended to deposit Bitcoin to a gambling site that you are supporting.

wow, I didn't realize this...
fees that go up when depositing Bitcoin on gambling sites because Halving actually harms the user, that means it's better to deposit with other cryptocurrencies that have cheap fees like eth, Tron, litecoin, and doge.

[FontSeli]

I just copied the title from a blog I read recently. Basically the writer provided some reasons why online gamblers would use Bitcoin gambling platforms more because of the halving.
~

Personally, I believe that halving bitcoin will not affect online casinos in any way. Miners have been mining bitcoin and continue to do so. The mining process is self-regulated. If someone leaves, the network aligns and balances itself.

The price of bitcoin is also constantly fluctuating, which does not affect the rates that people make in bitcoins.

[Bttzed03]

~ and idk why everyone wants to overcomplicate things and try to pin the event into somewhere else.

Exactly. I guess the main reason for hard selling the bitcoin halving to "traditional" online gamblers is promoting a certain bitcoin casino. I personally do not like these kinds of marketing. This is almost the same as hyping the non-bitcoiners to buy out of FOMO.

[verita1]

I think they are assumptions from The Effect of the Bitcoin Halving. Because they are not based on surveys and other series of field research. The Bitcoin Halving event certainly caught the attention of many crypto enthusiasts and others people joined the community.

On the characteristics of Bitcoin: Security, Maturity, and changing gambling for the better. They may have the expected result. For example, I have seen more blockchain-based online gambling developments. I might agree that a change in gambling is being created.

[maydna]

With the effect of the bitcoin halving, I think a gambler wants to move from using bitcoin to using altcoin because the fee for sending from their wallet to their account will be bigger. I see that the fee now is much high than before, but I think the fee will be reduced in the future so moving into altcoin will give them a chance to buy a lot of altcoin such as ethereum, litecoin, dogecoin and else and then send it into their gambling account.

Perhaps, people will use bitcoin as their investment, and they will use altcoin as the alternative to playing gambling. But for people who have a large amount of bitcoin, they will not think about that since they will not have a problem to send any bitcoin amount. We will see the effect at the online casino after the bitcoin halving.

[Kasabus]

With the effect of the bitcoin halving, I think a gambler wants to move from using bitcoin to using altcoin because the fee for sending from their wallet to their account will be bigger. I see that the fee now is much high than before, but I think the fee will be reduced in the future so moving into altcoin will give them a chance to buy a lot of altcoin such as ethereum, litecoin, dogecoin and else and then send it into their gambling account.

Then definitely we will see some good result on the altcoins market, especially on the major coins which gamblers will be using due to its good liquidity rate. As bitcoin is not affordable anymore in terms of fees, then that would be the scenario we witness in the future, and I think it's wise to think of investing at the moment.

Perhaps, people will use bitcoin as their investment, and they will use altcoin as the alternative to playing gambling. But for people who have a large amount of bitcoin, they will not think about that since they will not have a problem to send any bitcoin amount. We will see the effect at the online casino after the bitcoin halving.

Good for the whole market in overall, this way not only bitcoin will grow and with the increasing demand of altcoins, we might see its dominant rate to increase and we know what would result to the market if we will see it increase.

[bitbunnny]

With the effect of the bitcoin halving, I think a gambler wants to move from using bitcoin to using altcoin because the fee for sending from their wallet to their account will be bigger. I see that the fee now is much high than before, but I think the fee will be reduced in the future so moving into altcoin will give them a chance to buy a lot of altcoin such as ethereum, litecoin, dogecoin and else and then send it into their gambling account.

Perhaps, people will use bitcoin as their investment, and they will use altcoin as the alternative to playing gambling. But for people who have a large amount of bitcoin, they will not think about that since they will not have a problem to send any bitcoin amount. We will see the effect at the online casino after the bitcoin halving.

Maybe, but this is then effect of halving on gamblers and their preferences in.using this or other cryptocurrency but I don't think there is impact of having on online casinos.
They develope further their business and their services according to the profit they make and their business plan not what halving brings.
Although, so far we can't see some bigger impact of halving mot on Bitcoin price neither on something else like online casinos.

[stadus]

I tried to transfer $50 worth of Bitcoin from one wallet and using the Green wallet to transfer and the minimum fee/gas that lets me transfer that amount was $8, think of that if you are trying to transfer on one gambling sites, I still support Bitcoin on gambling but at this point in time, it's not recommended to deposit Bitcoin to a gambling site that you are supporting.

That's a high fee, it does not fit to the amount you transfer, 8 usd is 16% of the amount you transferred, I think that is too high, maybe you won't feel it if you transfer like $1000 or more, but with small amount, it's a big deal and small gamblers like us are really affected.

anyway, it seems like the fee has dropped as of the moment, not sure when you transact from the gambling site as they have different computation compared to the fee from using a certain wallet.

[Fundamentals Of]

It could go either way. But these are all speculations, whether the gambling wins will be kept as Bitcoin or they will be converted into fiat.

It would be nice if the gambling casinos are releasing a comparative data of their income during pre and post halving. If they are interested, anyway.

[abel1337]

I tried to transfer $50 worth of Bitcoin from one wallet and using the Green wallet to transfer and the minimum fee/gas that lets me transfer that amount was $8, think of that if you are trying to transfer on one gambling sites, I still support Bitcoin on gambling but at this point in time, it's not recommended to deposit Bitcoin to a gambling site that you are supporting.

That's a high fee, it does not fit to the amount you transfer, 8 usd is 16% of the amount you transferred, I think that is too high, maybe you won't feel it if you transfer like $1000 or more, but with small amount, it's a big deal and small gamblers like us are really affected.

anyway, it seems like the fee has dropped as of the moment, not sure when you transact from the gambling site as they have different computation compared to the fee from using a certain wallet.

I am also experiencing the same issue with high fees. I do usually gamble with small amounts because I am controlling myself from playing gambling by setting up a low starting capital limit on every session I have. The high fees prevent me from playing and sometimes luring me to deposit more because I feel that I am not utilizing the fees. I think this is the opportunity that is preventing me to play gambling.

[Questat]

But not like now.yeah it happens many time before but these days?it has really huge amount that cannot be afford by small withdrawals .

I guess with this big withdrawal fee, people will think of moving to altcoins, and it's just timely to see the gambling sites have already added a lot of altcoins as an option for deposit and withdrawal.. I haven't transact using ETH for now, I'm sure most gambling sites have ETH since it's the most liquid altcoins in the market, but anyone here transacted lately, please tell us how much is the fee per transaction, like the average.

Really high right now, even if you play right away, you can't because it takes several minutes to an hour before it gets confirmed and landed in your wallet the best option right now is to use Doge and XRP if they have it, Ethereum is also ok, as long as it's cheap fast and we can easily liquidate, that would be fine.
 

Doge is cheap too, but I'd choose XRP since its listed in any exchange and you can trade it right away, it's fast as well, in less than a minute you'll be able to receive your deposit, I think there are a lot of gamble sites right now that are accepting XRP. At this time that BTC's transaction fee is too high, gamblers will adjust and will look for a coin available that only charge a very minimal transaction fee.

[Ryker1]

Well, on my own. We cannot guarantee the security of anything that is valuable to us especially when it comes to bitcoin casinos, perhaps we may consider it as secured because of the private keys, it can also be hack since KYC is now being implemented even with casinos and once a hacker will be able to have such personal information then, --they can already use it to break any keys on your account and start to spare everything that you own.
Indeed, Bitcoin maturing because of halving has no direct effect in online casinos as I see it because playing in online casinos still depends on the bitcoin owner regardless of the global adoption of bitcoins or any cryptocurrency. Bitcoin who uses blockchain may change gambling for better if all casinos will use the blockchain technology in their system, --perhaps there will be pros and cons in doing this and we may only know those once we already cross the bridge.

[DoublerHunter]

Well, on my own. We cannot guarantee the security of anything that is valuable to us especially when it comes to bitcoin casinos, perhaps we may consider it as secured because of the private keys, it can also be hack since KYC is now being implemented even with casinos and once a hacker will be able to have such personal information then, --they can already use it to break any keys on your account and start to spare everything that you own.

^ Definitely right, it is hard to say that bitcoin casinos are more secure, maybe it requires a private key to access the wallet but nowadays where hackers become wiser than before they can possibly break these keys to steal also now that KYC is being imposed then it becomes easier for them to hack any account if they really want to. Halving doesn't give me any sense of the relation between bitcoin maturing and its effect in an online casino for there is no direct outcome if more people will adopt bitcoins because not all of them will necessarily play in an online casino. Nevertheless, it can be seen that bitcoin does worsen illegal online gambling for bitcoins are decentralized and it may be hard for the authority to track the identity of players from illegal online casinos.

[Mumbeeptind1963]

Well, on my own. We cannot guarantee the security of anything that is valuable to us especially when it comes to bitcoin casinos, perhaps we may consider it as secured because of the private keys, it can also be hack since KYC is now being implemented even with casinos and once a hacker will be able to have such personal information then, --they can already use it to break any keys on your account and start to spare everything that you own.

^ Definitely right, it is hard to say that bitcoin casinos are more secure, maybe it requires a private key to access the wallet but nowadays where hackers become wiser than before they can possibly break these keys to steal also now that KYC is being imposed then it becomes easier for them to hack any account if they really want to. Halving doesn't give me any sense of the relation between bitcoin maturing and its effect in an online casino for there is no direct outcome if more people will adopt bitcoins because not all of them will necessarily play in an online casino. Nevertheless, it can be seen that bitcoin does worsen illegal online gambling for bitcoins are decentralized and it may be hard for the authority to track the identity of players from illegal online casinos.

This is the reason why I dont trust online casinos because through the use of KYC our account are prone to be attacked by the hackers most especially if they know that we are keeping a great amount of money in our virtual wallet. When I had a traumatic experience in playing gambling online because of the KYC, I decided to stop playing online gambling because after I worked hard for my coins those bad people just hacked my account and take away all of my money and that is a lesson learned for me not to trust online gambling most especially for those who uses KYCs.

[imstillthebest]

But not like now.yeah it happens many time before but these days?it has really huge amount that cannot be afford by small withdrawals .

I guess with this big withdrawal fee, people will think of moving to altcoins, and it's just timely to see the gambling sites have already added a lot of altcoins as an option for deposit and withdrawal.. I haven't transact using ETH for now, I'm sure most gambling sites have ETH since it's the most liquid altcoins in the market, but anyone here transacted lately, please tell us how much is the fee per transaction, like the average.

Really high right now, even if you play right away, you can't because it takes several minutes to an hour before it gets confirmed and landed in your wallet the best option right now is to use Doge and XRP if they have it, Ethereum is also ok, as long as it's cheap fast and we can easily liquidate, that would be fine.
 

Doge is cheap too, but I'd choose XRP since its listed in any exchange and you can trade it right away, it's fast as well, in less than a minute you'll be able to receive your deposit, I think there are a lot of gamble sites right now that are accepting XRP. At this time that BTC's transaction fee is too high, gamblers will adjust and will look for a coin available that only charge a very minimal transaction fee.

after halving i notice that btc fee is still the same on the gambling site that im playing with though i rarely use a btc for depo , only for withdrawal if ever i have existing btc   .

 doge coin is also popular like xrp so im sure that many exchanges support it as well as gambling site but doge is too cheap and i cant calculate its value easily when playing a gambling unlike to xrp that its easy to remember its value and you can easily the determine if how much your betting with   .