BTC price VS gambling

[Twentyonepaylots]

I guess the crypto gambling industry isn't really that affected by the sudden increase in bitcoin's value. Since most of them offer usage of other cryptocurrencies, particularly USDT and Ethereum. Though I can definitely confirm that since bitcoin is really valuable right now, small amounts of bitcoin transaction are being made in gambling sites since most of them are being hodled.

XRP and doge coins are currently added to casinos due to the higher fees of bitcoin and ethereum. The fees are much lower and the value of the currencies is increasing due to higher demand the doge coin is supportable in many places and how much it will pump will depend on the choice of the people. However it is coming soon that these coins will pump a lot and all gamblers will choose the doge and XRP.

I'm not too much sold on the idea that Ripple and Doge will pump too much that people will stop using them in gambling the way ETH and Bitcoin isn't nowadays, Ripple is too volatile, DOGE is a stablecoin, so I don't see where the sudden pump will come from.

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[Natalim]

I guess the crypto gambling industry isn't really that affected by the sudden increase in bitcoin's value. Since most of them offer usage of other cryptocurrencies, particularly USDT and Ethereum. Though I can definitely confirm that since bitcoin is really valuable right now, small amounts of bitcoin transaction are being made in gambling sites since most of them are being hodled.

Some people hold while some still keep spending their bitcoin in gambling.

This bull run affects heavily the price of transaction fee, but this only affect gamblers who spend on a little amount in gambling as fee could be huge for them, and also, it's not only bitcoin but ETH also has a high transaction fee.  For USDT, I check on an exchange I'm using try to withdraw some but the fee is also high, so the best thing to do is use an altcoins with small price now so they'll guarantee a cheap fees.

[coolcoinz]

For me it all depends on the amount of coins that I'm earning. I very rarely spend my wage on gambling, which means that I only gamble with freebies (money from campaigns, giveaways, profit from investments) so if I keep getting the same amount of coins (more in fiat terms) I keep betting the same numbers. If my profits get reduced, I gamble less. I usually prefer to bet Bitcoin because that's the coin that I hold and the coin I earn here on the forum. It's just not convenient for me to exchange it and pay additional fee just to be able to place my bet in a different coin.

[maydna]

~snip~

For me the coin does not matter because I always look at the total usd equivalent of what I'm gambling, what matters to me a lot is the blockchain fee and the withdrawal fee of a certain gambling sites, and with that, I can attest that Dogecoin is a great coin for gambling during the bullish period.

So far, we have a problem with the fee of withdrawal or deposit that we send from the other wallet. If we use bitcoin, I am afraid that the fee will be too high, even if that is for 15k satoshi because the bitcoin price now is at $46k-$47k. Dogecoin becomes famous since the price is not too high and the fee itself is not too much compared to the other coins. Dogecoin is available on many gambling sites, so we don't have to get a problem using that coin to gamble.

I agree, I think that Doge is a cryptocurrency that is easy to use, the fees are very low and people can actually bet according to the equivalent of USD or Eur, this could be cheaper and more attractive, as it can happen with TRX, BNB which are currencies that are being widely accepted by casinos.

Perhaps, TRX and BNB can be the other altcoins that we can use for playing gambling. But compared to Dogecoin, I think TRX can be the next lower fee of withdrawal and deposit because, with the high price of BNB, it will better to save BNB and wait for the next rally to be sold at the exchanges. Dogecoin and TRX will be perfect coins for betting on the gambling site, but TRX is not available on many gambling sites. So choosing Dogecoin to gamble will be the best thing that we can use.

[bitzizzix]

I never sacrifice my bitcoins for anything including gambling which I think will lose everything if I use it, and I don't really like gambling and if I bet for fun I use the altcoins I have from campaign payments or from other income to bet.
because I always believe that the value of bitcoin will be fantastic in the long run like now, and in my opinion most of those who lost bitcoin to gamble and there must be regret and there are also those who are happy because they can grow bitcoin from gambling, and it all depends on skill and luck in the bet.

[acquafredda]

I never sacrifice my bitcoins for anything including gambling which I think will lose everything if I use it, and I don't really like gambling and if I bet for fun I use the altcoins I have from campaign payments or from other income to bet.
because I always believe that the value of bitcoin will be fantastic in the long run like now, and in my opinion most of those who lost bitcoin to gamble and there must be regret and there are also those who are happy because they can grow bitcoin from gambling, and it all depends on skill and luck in the bet.

I tend to agree with you there but bitcoin or altcoins just do not make very much of a difference here: when gambling, whatever you use, you already know you are going to risk your money from the start. Surely, betting with altcoins gives people some sort of false sense of security (because they look at their lower price compared to btc) but still they have some value so I see a tendency to gamble more money with alts without people realizing. Actually, they realize only when they lose everything.

[molsewid]

I tend to agree with you there but bitcoin or altcoins just do not make very much of a difference here: when gambling, whatever you use, you already know you are going to risk your money from the start. Surely, betting with altcoins gives people some sort of false sense of security (because they look at their lower price compared to btc) but still they have some value so I see a tendency to gamble more money with alts without people realizing. Actually, they realize only when they lose everything.

But the thing is with bitcoins we felt that when we bet and when we lose we are losing too much money considering that bitcoin is constantly improving and pumping we should learn to use some alternatives so we can still gamble without worrying too much. And also consider thar fees when we want to deposit money to bet or we want to withdraw our assets. When bitcoin pumps there will be some instances that alt is dumping, so I agree to someone that it is hard to bet using bitcoin.

[xSkylarx]

I never sacrifice my bitcoins for anything including gambling which I think will lose everything if I use it, and I don't really like gambling and if I bet for fun I use the altcoins I have from campaign payments or from other income to bet.
because I always believe that the value of bitcoin will be fantastic in the long run like now, and in my opinion most of those who lost bitcoin to gamble and there must be regret and there are also those who are happy because they can grow bitcoin from gambling, and it all depends on skill and luck in the bet.

I know some people that lose or spend huge amount of bitcoin in gambling that doesn't care for its value. They are rich people and they find bitcoin to be very useful to do their gambling habit, they can gamble anytime and anywhere they want. It's almost like a real casino because there are now different variety of games you can play with. People that regret losing in gambling are often the type who risk their small amount of money expecting for some return. Gambling is all about luck after all so it should not be treated as a way to grow your money.

[BuNga_cute]

I believe the increase in the price of Bitcoin has had a negative effect on the gambling industry, because many gamblers are reducing their gambling
time. Or even as I did, withdrawing my Bitcoin from the gambling site to my personal wallet for holding. Because if the price of Bitcoin is as high as
it is now, if it is used to play gambling and end up losing, it will be very painful. Even if I really wanted to play gambling, I wouldn't use Bitcoin. I will
try to replace Bitcoin with other coins

[hahay]

I believe the increase in the price of Bitcoin has had a negative effect on the gambling industry, because many gamblers are reducing their gambling
time. Or even as I did, withdrawing my Bitcoin from the gambling site to my personal wallet for holding. Because if the price of Bitcoin is as high as
it is now, if it is used to play gambling and end up losing, it will be very painful. Even if I really wanted to play gambling, I wouldn't use Bitcoin. I will
try to replace Bitcoin with other coins

I guess it has become a regular occurrence because it is a risk but yes, if you feel comfortable using other coins then of course you should leave bitcoins for gambling. Therefore, providing some crypto as payment has become something that is a must-have on any crypto gambling site. But for me, the ups and downs of bitcoin prices I just need adjustments but lately I just realized when bitcoin prices went to the moon, I guess gamblers have no problem about that and the problem is about the gambling site itself whether to survive or end service and closed the site.

[madnessteat]

~ But for me, the ups and downs of bitcoin prices I just need adjustments but lately I just realized when bitcoin prices went to the moon, I guess gamblers have no problem about that and the problem is about the gambling site itself whether to survive or end service and closed the site.

I do not see any problem with the gambling sites because of BTC price increase after all almost all of them have a few alternatives to deposit, which are currently faster and less expensive for both players and for the casino.

[roosbit]

Other than bitcoin price going up, transaction fees have also gone up which makes bitcoin gambling expensive and unattractive atm,if I must say am actually gambling less these days.

And because of what's happening with bitcoin prices, We have been left with no choice but play with other coins like ltc,tron ,dash, usdt trc20 and a whole list of coins that won't break the bank.
There is also an issue of casinos pegging your balance to USD value upon transaction getting confirmed which makes it pointless to use btc as you lose out on an soaring prices of BTC.

[Mauser]

I never sacrifice my bitcoins for anything including gambling which I think will lose everything if I use it, and I don't really like gambling and if I bet for fun I use the altcoins I have from campaign payments or from other income to bet.
because I always believe that the value of bitcoin will be fantastic in the long run like now, and in my opinion most of those who lost bitcoin to gamble and there must be regret and there are also those who are happy because they can grow bitcoin from gambling, and it all depends on skill and luck in the bet.

That's  a pretty good approach for our bitcoin portfolio. If we manage to save our coins for the future we are in a good position, but if we manage to double our coins through gambling we would be in an even better position. In the end it all depends on how we can earn with our coins.

[Maslate]

I never sacrifice my bitcoins for anything including gambling which I think will lose everything if I use it, and I don't really like gambling and if I bet for fun I use the altcoins I have from campaign payments or from other income to bet.
because I always believe that the value of bitcoin will be fantastic in the long run like now, and in my opinion most of those who lost bitcoin to gamble and there must be regret and there are also those who are happy because they can grow bitcoin from gambling, and it all depends on skill and luck in the bet.

That's  a pretty good approach for our bitcoin portfolio. If we manage to save our coins for the future we are in a good position, but if we manage to double our coins through gambling we would be in an even better position. In the end it all depends on how we can earn with our coins.

Well, in most cases we fail because only few of the gamblers have the skills and the talent. I would not think of doubling my holding through gambling as most likely the opposite will happen, it will probably divide or it's possible you can go bankrupt in the end.

Investing and gambling should be separated, and you have to ensure that the amount of funds you'll expose in gambling is not so significant from your total holding, that way your future will not be affected.

[adzino]

Other than bitcoin price going up, transaction fees have also gone up which makes bitcoin gambling expensive and unattractive atm,if I must say am actually gambling less these days.
-snip-

Unless you are going to do high volume bets and think it's not worth paying the fee, then you are doing it right by switching to some other coins. Or maybe make a deposit a day earlier before you start gambling?

-snip-.
There is also an issue of casinos pegging your balance to USD value upon transaction getting confirmed which makes it pointless to use btc as you lose out on an soaring prices of BTC.

Wait, if that is the case, then you are not gambling with cryptocurrencies. I assume the casino you are using converts your bitcoin to fiat automatically. But why would you even play on such casinos using bitcoins?
There are casinos that shows your values in USD so you can better understand how much "money" you have left which will help you better manage your bankroll. The values get updated with the current price automatically.

[Saint-loup]

I do not really know why people cannot see it, maybe because they only watch the coins' names on coinmarketmap but never research what they are.
Thanks to Elon, Doge has much more space to grow in this business industry and you will see many more platforms will start accepting and implementing it.

I'm not sure about that because when I asked if Freedogecoin will be back soon, his owner replied to me it was very unlikely because Doge wallet was too old and not adapted anymore for big platforms.

BTW now that DOGE is becoming a hyped crypto I hope Freedogecoin will come back soon    

DOGE is a great coin for its pump and dump cycles but the wallet is very outdated and causes far too many support issues to run a site of that scale.

-snip
The unreliability of the Doge wallet software was one of the 2 main reasons we decided to close the site.

So we'll certainly have to wait for some Doge core updates IMO.

[boyptc]

And not just that, as it was already high valued crypto I don't think that'll be easy to give up even though there will be less users that will use them as payments.
Besides, for some casinos this was their main reason and goal on building up such platform, as to make good use of these two top cryptos and at the same time earn from them as it will bring more fortune when the time comes just like now.
Haven't you think of that? most people can't get their lost BTCs as the current value and fees are way to high to be handled so the house will be on a win-win by holding so much of these crypto. (depends on how much they earned these past months, obviously)

It's the OG of crypto and alts so they wouldn't give up on it because of the fees. But that really sucks when we're considering the fees, it seems that there's no solution for it but just to do alternative deposits and withdrawals through another altcoin.

But the demand isn't likely to be down.

[magneto]

Other than bitcoin price going up, transaction fees have also gone up which makes bitcoin gambling expensive and unattractive atm,if I must say am actually gambling less these days.

And because of what's happening with bitcoin prices, We have been left with no choice but play with other coins like ltc,tron ,dash, usdt trc20 and a whole list of coins that won't break the bank.
There is also an issue of casinos pegging your balance to USD value upon transaction getting confirmed which makes it pointless to use btc as you lose out on an soaring prices of BTC.

I agree - which is why bitcoin casinos/sportsbooks have increasingly their marketing strategy to target the wealthiest whales by having VIP programs, individual hosts, and all that.

If you are just a regular Joe wanting to have a night off on Friday and do a bit of dicing, BTC is no longer the way to go. You are much better off using ETH/Doge/LTC to keep more of your winnings and lose less to blockchain fees.

But I disagree with the second part of your statement. It is not all bad that casinos are pegging deposits to USD, even though I personally dislike it. You would be hedged against any adverse movements as well as positive developments, which is something that appeals to certain players.

[Silberman]

Why do you like Ripple so much considering is some crappy banks' token'? I never liked XRP as it is mostly used by banks worldwide: hundreds of financial choose ripplenet and you want to gamble with that? It sounds quite funny to me, sorry.
Better using the old hilarious Doge

Some people simply do not care, most of us like bitcoin because of its decentralized nature and the freedom that it brings but we need to recognize that an important part of the users of cryptocurrencies simply do not care and as long as they can use their coins in whatever way they can then they are going to adopt a coin like ripple, we must also remember that many exchanges stopped accepting ripple so maybe those that are holding some ripple prefer to gamble with it instead of bitcoin as a way to get at least some fun out of their coins instead of leaving their ripple in their wallet.

[maydna]

Why do you like Ripple so much considering is some crappy banks' token'? I never liked XRP as it is mostly used by banks worldwide: hundreds of financial choose ripplenet and you want to gamble with that? It sounds quite funny to me, sorry.
Better using the old hilarious Doge

Some people simply do not care, most of us like bitcoin because of its decentralized nature and the freedom that it brings but we need to recognize that an important part of the users of cryptocurrencies simply do not care and as long as they can use their coins in whatever way they can then they are going to adopt a coin like ripple, we must also remember that many exchanges stopped accepting ripple so maybe those that are holding some ripple prefer to gamble with it instead of bitcoin as a way to get at least some fun out of their coins instead of leaving their ripple in their wallet.

Yes, we like bitcoin, but if the bitcoin price increase so high, that will not good if we use it for gambling because we have many other altcoins that we can use for gambling. Perhaps, we can convert bitcoin before we send it to the gambling site, so that can prevent us to pay a high fee.

Ripple as one of the low coin fees can be a favorite for some people, but many others prefer to use Dogecoin as the lower coin fees. We are so lucky to gambling in the crypto gambling site because we have so many options coin that we can use it to gambling.