BTC price VS gambling

[yazher]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

I agree, there are people gambling with so much money that for the most part they could care less about the fees, they just want to gamble and have some fun but for people like us that are gambling on a small budget an increase in the fees can be enough to reduce significantly the amount we had planned to gamble in the casino, so while I am not the biggest fan of altcoins this is one of the few use cases in which there is no doubt there are coins that can get faster and cheaper confirmations than bitcoin.

I don't really know if they still care if they are winning so much because most of the gamblers out there don't just bet with the little money they have, they usually put all they got until they win big or lose it all. So, whatever the fees might be, they just don't really care about it. One thing to be sure of is they don't play for their source of income or whatsoever, they just simply doing it for fun according to most of them, that's why no one in the gambling industry has brought this issue to serious discussion with the other higher authorities.

[Kittygalore]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

It could work but if you want a bigger return and you are a high stakes player, I think that bitcoin and Ethereum is a good crypto for gambling. The best thing to do right now is not to gamble because those cryptos that you lost when you lose in gambling could have made you a profit if you just hodl them.

[iamsheikhadil]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

Ethereum transaction fees have been more than bitcoin transaction fees nowadays, I don't know if it ever happened earlier before, but a few weeks ago I withdrew some eth without noticing the fee that would be applicable from a site, and immediately after recieving the amount, I was jaw-dropped that around $15 was paid just for the transaction fees and I was left with $20 lmfao. I would now prefer to play with bitcoin than ethereum if given a choice

[Mauser]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

It could work but if you want a bigger return and you are a high stakes player, I think that bitcoin and Ethereum is a good crypto for gambling. The best thing to do right now is not to gamble because those cryptos that you lost when you lose in gambling could have made you a profit if you just hodl them.

But this also goes the other way. If you manage to win more money right now you would increase your crypto portfolio a lot. Looking at the top cash game players in poker, we know that most of them are also bitcoin millionaires. I was a bit afraid over the last 4 months to use bitcoins for gambling because the price was rising so much. Now the BTC price seems to settle down around the 50,000 USD mark it becomes a bit better to use the BTC again.

[Botnake]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

It could work but if you want a bigger return and you are a high stakes player, I think that bitcoin and Ethereum is a good crypto for gambling. The best thing to do right now is not to gamble because those cryptos that you lost when you lose in gambling could have made you a profit if you just hodl them.

But this also goes the other way. If you manage to win more money right now you would increase your crypto portfolio a lot. Looking at the top cash game players in poker, we know that most of them are also bitcoin millionaires. I was a bit afraid over the last 4 months to use bitcoins for gambling because the price was rising so much. Now the BTC price seems to settle down around the 50,000 USD mark it becomes a bit better to use the BTC again.

They are not bitcoin millionaire actually but more so fiat millionaire as only few holds millions of bitcoin in their wallet. Their holdings value will drop once bitcoin will drop, so in gambling, it's hard to mix it with bitcoin as you'll facing both risk (volatility and losing) which is not good if you don't have the proper risk management on both.

[Silberman]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

It could work but if you want a bigger return and you are a high stakes player, I think that bitcoin and Ethereum is a good crypto for gambling. The best thing to do right now is not to gamble because those cryptos that you lost when you lose in gambling could have made you a profit if you just hodl them.

But this also goes the other way. If you manage to win more money right now you would increase your crypto portfolio a lot. Looking at the top cash game players in poker, we know that most of them are also bitcoin millionaires. I was a bit afraid over the last 4 months to use bitcoins for gambling because the price was rising so much. Now the BTC price seems to settle down around the 50,000 USD mark it becomes a bit better to use the BTC again.

You bring a very interesting point, it is true that due to the increase in price that we have seen in bitcoin during the last year people have been more reluctant to gamble with it but at the same time once the price becomes stable again, regardless of the level at which that happens, people are going to begin to gamble with bitcoin again because now they are not going to be afraid they are going to miss the bull run because now the price is stable, and if to that we add that most likely at that point the fees will become more stable as well then I think we will be able gamble with our bitcoin as we did before.

[Smartprofit]

Happy Friday, gamblers

Some time ago, last October, I asked you if BTC price increase has affected your gameplay somehow. Back then, it wasn't a problem for most of the users who replied.

Well, today the BTC price is almost $50K. I was just wondering, how are things now.
Are you still playing with Bitcoin, or have you switched to another coin due to a rise?

Thanks,
Karl from Bitcasino

Currently, I do not mainly use Bitcoin (BTC) for gambling, but Bitcoin Cash.

I used to be very bad about the Bitcoin Cash cryptocurrency due to the fact that it positioned itself as Bitcoin.  In the fall of 2017, as a result of manipulation by Roger Ver and Jihan Wu, the Bitcoin Cash price reached 0.5 BTC ! 

Nowadays, everyone understands that Bitcoin Cash is just one of the altcoins.  Bitcoin Cash has good liquidity.  This coin is listed on most cryptocurrency exchanges and exchanges. 

Currently, there are very high fees on the Bitcoin network. 

Therefore, for transactions with small amounts of money, Bitcoin Cash is a good solution.

[michellee]

For me as a gambler with a small capital, of course it is quite influential in the increase in the price of Bitcoin on my gambling activities.
Therefore I prefer to use altcoins to gamble, besides the price increase is not as big as Bitcoin, altcoins transaction fees are also much cheaper.
But for altcoins I suggest using something other than Ethereum, because gambling using Ethereum is almost the same as Bitcoin. Apart from
the already very high price, Ethereum transaction fees are also very high. For now I prefer to use Tron, Dogecoin or Litecoin to play gambling.

Ethereum transaction fees have been more than bitcoin transaction fees nowadays, I don't know if it ever happened earlier before, but a few weeks ago I withdrew some eth without noticing the fee that would be applicable from a site, and immediately after recieving the amount, I was jaw-dropped that around $15 was paid just for the transaction fees and I was left with $20 lmfao. I would now prefer to play with bitcoin than ethereum if given a choice

But still, if you use bitcoin to play gambling, the transaction fee is much in usdt, which is equal to $11-$12 with the current bitcoin price now. It is almost the same if you use ethereum. Maybe you can use altcoin, and I think Dogecoin is still the best coin to gamble, and many gambling sites have that Dogecoin, so you will not have a problem. But if you still want to use bitcoin, then you have your option.

[Peanutswar]

I feel that playing with bitcoin is like playing with gold. Literally. I think it is far better to play with minor/cheap altcoins. We are all here to make money, why would anybody play with money that will nearly definitely increase over time especially in bull markets. This is my take on this topic.

In some point but still the bitcoin is different from the gold it's more volatile but into a gambling they need to follow the market prices to become fair to the users in a single minute or hour the price of the bitcoin will change but in gold, I think it looks a long time before it makes a too much change on the price.

Well my guess if we want to lessen the loss by just transferring our fund's goods to use the altcoins I'll agree with that.

[nakamura12]

I wouldn't say that it affected how I gamble but i would say that if I want to have lesser fee then I will use different cryptocurrency like doge if that site supports other crypto. If there is no other crypto supported yet then I have no choice but not to gamble in that site. In some gambling platform, when you deposited btc then it will converted to usd in the site and when you gamble it will be btc but when you withdraw it will be in btc.

[hahay]

I feel that playing with bitcoin is like playing with gold. Literally. I think it is far better to play with minor/cheap altcoins. We are all here to make money, why would anybody play with money that will nearly definitely increase over time especially in bull markets. This is my take on this topic.

In some point but still the bitcoin is different from the gold it's more volatile but into a gambling they need to follow the market prices to become fair to the users in a single minute or hour the price of the bitcoin will change but in gold, I think it looks a long time before it makes a too much change on the price.

Well my guess if we want to lessen the loss by just transferring our fund's goods to use the altcoins I'll agree with that.

I guess it's just a parable which means bitcoin is very valuable like gold for him, instead of being used for gambling it would be better to hold, maybe that's what he meant and not about the price I guess. But, apart from that I think gambling using bitcoin or other alternative coins depends on your own convenience as a player, if you are more comfortable using altcoins then just use altcoins because after all convenience is the most important thing. Regardless of the high or low price it will still be adjustable because even though we use bitcoin we can still bet low amounts, right.

[Fredomago]

I wouldn't say that it affected how I gamble but i would say that if I want to have lesser fee then I will use different cryptocurrency like doge if that site supports other crypto.

Lots of crypto gamblers also aimed to use other crypto to avoid high transaction fees, just imagine that by sending your initial bankroll you already lose decent amount of money from the transaction itself.

If there is no other crypto supported yet then I have no choice but not to gamble in that site.

That's your decision to make, if you see it's not good for you then moving to other site is your option.

In some gambling platform, when you deposited btc then it will converted to usd in the site and when you gamble it will be btc but when you withdraw it will be in btc.

Not unless the site have built in exchange, or the site are using third party exchange when deposting your fund, but when withdrawing
it's used Bitcoin most of the time.

[boyptc]

I wouldn't say that it affected how I gamble but i would say that if I want to have lesser fee then I will use different cryptocurrency like doge if that site supports other crypto. If there is no other crypto supported yet then I have no choice but not to gamble in that site.

It's either gamble with alternatives or not to.

Many are in the same situation if the casino you like don't accept altcoins that have cheaper fees than bitcoin and ethereum. But if you already have that balance on that casino then that's a better thing because you don't have to pay for any higher transfer fees.

In some gambling platform, when you deposited btc then it will converted to usd in the site and when you gamble it will be btc but when you withdraw it will be in btc.

I saw some platforms are really like that, you may think of it sometimes as advantage and also has its own disadvantages depending on your take.

[dre1982]

In some gambling platform, when you deposited btc then it will converted to usd in the site and when you gamble it will be btc but when you withdraw it will be in btc.

Well I noticed that a lot of gambling sites now also shows the amounts in USD below the crypto currencies. They still let you play with the crypto but you see directly how much it is in real money. That really helped me a lot not to play too big.

Before I still played the same amounts in btc like I did 1 a 2 years ago.

[pilosopotasyo]

Well I noticed that a lot of gambling sites now also shows the amounts in USD below the crypto currencies. They still let you play with the crypto but you see directly how much it is in real money. That really helped me a lot not to play too big.

Before I still played the same amounts in btc like I did 1 a 2 years ago.

It's not yet implemented in the two gambling sites I'm playing right now, but it's a good feature if all gambling sites or platform will implement this, I also have a problem when playing I like to see the amount in dollar so I can decide with easiness if I will proceed or not, I can stop using a converter from now on if we have this on all the gambling sites.

[swogerino]

In some gambling platform, when you deposited btc then it will converted to usd in the site and when you gamble it will be btc but when you withdraw it will be in btc.

Well I noticed that a lot of gambling sites now also shows the amounts in USD below the crypto currencies. They still let you play with the crypto but you see directly how much it is in real money. That really helped me a lot not to play too big.

Before I still played the same amounts in btc like I did 1 a 2 years ago.

Yeah that really helps a lot when you play with the amount of crypto converted in fiat money.It is psychological,when you see for example the bet 0.01mBtc and you have a balance of 200mBtc you play without thinking about the fiat value and this can lead to a lot of money being lost.If you play with fiat money showing in your balance and you play with 1 Euro bet when you have a balance of 500 Eur you are more focused and more in control.Of course there may be persons which are not affected by this but most of us I think are affected.

[Botnake]

Well I noticed that a lot of gambling sites now also shows the amounts in USD below the crypto currencies. They still let you play with the crypto but you see directly how much it is in real money. That really helped me a lot not to play too big.

Before I still played the same amounts in btc like I did 1 a 2 years ago.

It's not yet implemented in the two gambling sites I'm playing right now, but it's a good feature if all gambling sites or platform will implement this, I also have a problem when playing I like to see the amount in dollar so I can decide with easiness if I will proceed or not, I can stop using a converter from now on if we have this on all the gambling sites.

They'll show the value of your coins in usd but it's still volatile since you are not holding a usd in reality, just to give you an idea how much you are holding already without making an effort to calculate it manually. There are site also like Betnomi that let you withdraw in any coin corresponding to your balance, I think its a good feature too and I don't see any site that has a similar feature as them.

[michellee]

In some gambling platform, when you deposited btc then it will converted to usd in the site and when you gamble it will be btc but when you withdraw it will be in btc.

Well I noticed that a lot of gambling sites now also shows the amounts in USD below the crypto currencies. They still let you play with the crypto but you see directly how much it is in real money. That really helped me a lot not to play too big.

Before I still played the same amounts in btc like I did 1 a 2 years ago.

And today, after bitcoin price increase so high, I do not think that we will use the same amounts in bitcoin because if we use the same amount, that value will increase too and that is not worth to use that money for gamble. That is why many gamblers moving their funds into altcoin which is not too high compare to bitcoin, and they will not have to pay high fees if they want to withdraw their winning. I use

[codegnome]

Some sites have the option to use your balance in mbtc and others offer Fiat. Some sites offer both. So you can always choose if you want to take the risk that the rate will change.

[RealMalatesta]

It's not yet implemented in the two gambling sites I'm playing right now, but it's a good feature if all gambling sites or platform will implement this

I guess it is time to switch over your platform when your most demanded feature is not available where you are playing right now then there will be no point of continuing. I do see it's kind of trick that some gambling houses are making use of, like if you need an external converter to know the current value of your bet then you may keep betting until your all balance get exhausted which eventually may benefit that house in the end. Please settle into a house which cares you in all means.

Some sites have the option to use your balance in mbtc and others offer Fiat.

As per many people's demand here, balances and betting amounts should be shown in fiat value so that we can take care of our betting with respect to a real-life rather than simply playing with BTC numbers; because for example 0.001BTC is not same in any instance of a day.