BTC price VS gambling

[boyptc]

There are differences of it and similarities that we have division towards having an opinion about it. While there's house edge for a casino, there's the fee that we pay in exchanges when we're trading.

And that's why we cannot just compare both of it IMO. Quite confusing, no? 

It totally depends on the input values you choose. You can absolutely make trading a gamble, a real gamble. Go pick 1000x leverage and bet on the exchange rate EUR/USD (no matter which direction you decide) and you have the perfect gamble! You could gamble on the Brexit with trading and you could gamble on the presidential elections with trading. Everything that has political relevance very often has economic relevance. That can easily transferred into impact on exchange rates, hence trading exchange rates is a gamble. I know that! I have done it!  

Yeah, missed that one and that's a sure gamble if there's an exchange that allows 1000x leverage. Just 100x is already that much and a gamble.

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[Questat]

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

If the casino does not have TRC20 or still uses ERC20 USDT, we can use the other altcoins and hopefully, Dogecoin is available on the casino.

Some casinos have DOGECOIN, however, due to the increase of DOGECOIN price, that would mean you also have to pay a high value of transaction fee, and for me, it's not attractive for gamblers especially if a gambler does not have a lot to gamble, they'll always look for alternative to save on fees.

I think we can see that many casinos have that coin so we can use Dogecoin to gamble. Compare to USDT use TRC20 than Dogecoin, I prefer to use Dogecoin because the fee is not too high and the highest fee that I already pay is about 15 Dogecoin when the price is low.

When the price is low, but what if based on the current price?

DOGECOIN is currently valued at 0.2302 USD, so that's 3.453 USD if you pay 15.. still TRC20 (USDT) is still lower as you'll only pay 1 USD.

[LUCKMCFLY]

There are some times that in the casino platforms we have some money, but it is in BTC, many want to take it out but sometimes the fee is much more expensive than what is in balance, some casinos do not have LN, so that balance stays stuck there for a long time.

When these types of problems occur, many users require the casinos to implement an internal exchange so that they can withdraw, others demand to lower the fee, but sometimes these demands are not listened to by the platform, although now the BTC has a relatively price low (compared to when it reached $ 60k and more) some platforms have not lowered the fees, what solution could be given? There is much talk about it, but on some platforms I have not seen a solution, I have only seen new casinos that offer the option of TRC20, or that the fees are cheaper with LN, is LN the solution to all this?

I also have friends players who leave the balance in BTC until they find a solution, this is where the alts come into play, I think that the best way of survival of the alts is thanks to the casinos and bookmakers, since when operating and playing with alts the fees are very low, I think that in some way everything is offsetting.

[Shasha80]

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

If the casino does not have TRC20 or still uses ERC20 USDT, we can use the other altcoins and hopefully, Dogecoin is available on the casino.

Some casinos have DOGECOIN, however, due to the increase of DOGECOIN price, that would mean you also have to pay a high value of transaction fee, and for me, it's not attractive for gamblers especially if a gambler does not have a lot to gamble, they'll always look for alternative to save on fees.

I think we can see that many casinos have that coin so we can use Dogecoin to gamble. Compare to USDT use TRC20 than Dogecoin, I prefer to use Dogecoin because the fee is not too high and the highest fee that I already pay is about 15 Dogecoin when the price is low.

When the price is low, but what if based on the current price?

DOGECOIN is currently valued at 0.2302 USD, so that's 3.453 USD if you pay 15.. still TRC20 (USDT) is still lower as you'll only pay 1 USD.

Since Elon Musk manipulated the price of Dogecoin, I no longer use Dogecoin as an option to gamble. Since Dogecoin transaction fees are not
cheap anymore, I agree USDT (TRC20) is much cheaper. But the problem is that not many gambling sites already support USDT (TRC20),
so I usually look for other alternatives. Maybe TRX or XRP would be another option to gamble with, but I'm used to using BTC to gamble.
So I use altcoins only to make withdrawals.

[Sanitough]

Since Elon Musk manipulated the price of Dogecoin, I no longer use Dogecoin as an option to gamble. Since Dogecoin transaction fees are not
cheap anymore, I agree USDT (TRC20) is much cheaper.

It's not reasonable anymore, whether it's manipulated or not but the current price would result to a high transaction fee as most of us are transacting from an exchanges to gambling sites and vice versa.

But the problem is that not many gambling sites already support USDT (TRC20),
so I usually look for other alternatives. Maybe TRX or XRP would be another option to gamble with, but I'm used to using BTC to gamble.
So I use altcoins only to make withdrawals.

XRP is a great alternative as regardless of its price, the fee is still very affordable, but about TRC20, don't worry, eventually more gambling sites will add this.

[mv1986]

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

If the casino does not have TRC20 or still uses ERC20 USDT, we can use the other altcoins and hopefully, Dogecoin is available on the casino.

Some casinos have DOGECOIN, however, due to the increase of DOGECOIN price, that would mean you also have to pay a high value of transaction fee, and for me, it's not attractive for gamblers especially if a gambler does not have a lot to gamble, they'll always look for alternative to save on fees.

I think we can see that many casinos have that coin so we can use Dogecoin to gamble. Compare to USDT use TRC20 than Dogecoin, I prefer to use Dogecoin because the fee is not too high and the highest fee that I already pay is about 15 Dogecoin when the price is low.

When the price is low, but what if based on the current price?

DOGECOIN is currently valued at 0.2302 USD, so that's 3.453 USD if you pay 15.. still TRC20 (USDT) is still lower as you'll only pay 1 USD.

Since Elon Musk manipulated the price of Dogecoin, I no longer use Dogecoin as an option to gamble. Since Dogecoin transaction fees are not
cheap anymore, I agree USDT (TRC20) is much cheaper. But the problem is that not many gambling sites already support USDT (TRC20),
so I usually look for other alternatives. Maybe TRX or XRP would be another option to gamble with, but I'm used to using BTC to gamble.
So I use altcoins only to make withdrawals.

Yes when Dogecoin peaked somewhere around $0.60 or $0.70 there were a couple of websites that charged like 20 DOGE. That's almost $15. The promise doesn't hold true that Dogecoin is a coin to cheaply transact with. I know the websites are to blame, but still I think the transaction fees for normal transactions also increased substantially.

TRC20 is indeed the best alternative. TRX is good to use and XRP is also fine in most cases.

[Botnake]

Yes when Dogecoin peaked somewhere around $0.60 or $0.70 there were a couple of websites that charged like 20 DOGE. That's almost $15. The promise doesn't hold true that Dogecoin is a coin to cheaply transact with. I know the websites are to blame, but still I think the transaction fees for normal transactions also increased substantially.

I guess gambling sites now have to start adding TRC20 to their platform, that if they want to compete with other sites who have already added, there are only a few but those few gambling sites are sure benefiting from gamblers who would try to avoid the high transaction fees.

TRC20 is indeed the best alternative. TRX is good to use and XRP is also fine in most cases.

As long as you are coming from an exchange that charges reasonable withdrawal fees, everything should be fine.

[mv1986]

Yes when Dogecoin peaked somewhere around $0.60 or $0.70 there were a couple of websites that charged like 20 DOGE. That's almost $15. The promise doesn't hold true that Dogecoin is a coin to cheaply transact with. I know the websites are to blame, but still I think the transaction fees for normal transactions also increased substantially.

I guess gambling sites now have to start adding TRC20 to their platform, that if they want to compete with other sites who have already added, there are only a few but those few gambling sites are sure benefiting from gamblers who would try to avoid the high transaction fees.

TRC20 is indeed the best alternative. TRX is good to use and XRP is also fine in most cases.

As long as you are coming from an exchange that charges reasonable withdrawal fees, everything should be fine.

The problem is not only about the currencies they allow to be deposited, but the fees they charge to withdraw again. That's where it is up to them. A 20 DOGE fee is not necessary to cover network transaction fees. Yet they charge that amount anyway. It's disturbing, but a couple of gambling sites have at least one crypto where they charge a reasonable withdrawal fee. Though you are always confronted with the hassle to first exchange other cryptos for that crypto...

[Sanitough]

Yes when Dogecoin peaked somewhere around $0.60 or $0.70 there were a couple of websites that charged like 20 DOGE. That's almost $15. The promise doesn't hold true that Dogecoin is a coin to cheaply transact with. I know the websites are to blame, but still I think the transaction fees for normal transactions also increased substantially.

I guess gambling sites now have to start adding TRC20 to their platform, that if they want to compete with other sites who have already added, there are only a few but those few gambling sites are sure benefiting from gamblers who would try to avoid the high transaction fees.

TRC20 is indeed the best alternative. TRX is good to use and XRP is also fine in most cases.

As long as you are coming from an exchange that charges reasonable withdrawal fees, everything should be fine.

The problem is not only about the currencies they allow to be deposited, but the fees they charge to withdraw again. That's where it is up to them. A 20 DOGE fee is not necessary to cover network transaction fees. Yet they charge that amount anyway. It's disturbing, but a couple of gambling sites have at least one crypto where they charge a reasonable withdrawal fee. Though you are always confronted with the hassle to first exchange other cryptos for that crypto...

If we are too concern with fees, I guess we should just focus on using XRP in gambling, most of the gambling sites and exchanges I used to charge less than 1 XRP, and that is very cheap already given the current price of XRP. However, if volatility is your problem, then you might think of using it as we know anything could happen, we will either see a pump or dump, but we don't like seeing it dump for sure.

[mv1986]

Yes when Dogecoin peaked somewhere around $0.60 or $0.70 there were a couple of websites that charged like 20 DOGE. That's almost $15. The promise doesn't hold true that Dogecoin is a coin to cheaply transact with. I know the websites are to blame, but still I think the transaction fees for normal transactions also increased substantially.

I guess gambling sites now have to start adding TRC20 to their platform, that if they want to compete with other sites who have already added, there are only a few but those few gambling sites are sure benefiting from gamblers who would try to avoid the high transaction fees.

TRC20 is indeed the best alternative. TRX is good to use and XRP is also fine in most cases.

As long as you are coming from an exchange that charges reasonable withdrawal fees, everything should be fine.

The problem is not only about the currencies they allow to be deposited, but the fees they charge to withdraw again. That's where it is up to them. A 20 DOGE fee is not necessary to cover network transaction fees. Yet they charge that amount anyway. It's disturbing, but a couple of gambling sites have at least one crypto where they charge a reasonable withdrawal fee. Though you are always confronted with the hassle to first exchange other cryptos for that crypto...

If we are too concern with fees, I guess we should just focus on using XRP in gambling, most of the gambling sites and exchanges I used to charge less than 1 XRP, and that is very cheap already given the current price of XRP. However, if volatility is your problem, then you might think of using it as we know anything could happen, we will either see a pump or dump, but we don't like seeing it dump for sure.

Yes XRP is a good option, but sometimes these websites charge like 20 XRP, which is ridiculous and destroys the purpose of being a good currency for gambling and what not.

[stadus]

Yes when Dogecoin peaked somewhere around $0.60 or $0.70 there were a couple of websites that charged like 20 DOGE. That's almost $15. The promise doesn't hold true that Dogecoin is a coin to cheaply transact with. I know the websites are to blame, but still I think the transaction fees for normal transactions also increased substantially.

I guess gambling sites now have to start adding TRC20 to their platform, that if they want to compete with other sites who have already added, there are only a few but those few gambling sites are sure benefiting from gamblers who would try to avoid the high transaction fees.

TRC20 is indeed the best alternative. TRX is good to use and XRP is also fine in most cases.

As long as you are coming from an exchange that charges reasonable withdrawal fees, everything should be fine.

The problem is not only about the currencies they allow to be deposited, but the fees they charge to withdraw again. That's where it is up to them. A 20 DOGE fee is not necessary to cover network transaction fees. Yet they charge that amount anyway. It's disturbing, but a couple of gambling sites have at least one crypto where they charge a reasonable withdrawal fee. Though you are always confronted with the hassle to first exchange other cryptos for that crypto...

If we are too concern with fees, I guess we should just focus on using XRP in gambling, most of the gambling sites and exchanges I used to charge less than 1 XRP, and that is very cheap already given the current price of XRP. However, if volatility is your problem, then you might think of using it as we know anything could happen, we will either see a pump or dump, but we don't like seeing it dump for sure.

Yes XRP is a good option, but sometimes these websites charge like 20 XRP, which is ridiculous and destroys the purpose of being a good currency for gambling and what not.

Like what particular websites? I've been gambling on a sports betting platform and they keep the withdrawal fee cheap, I mean, I don't feel anything because it's too cheap and it's also very fast. AFAIK, some exchanges charge a huge withdrawal fee but gambling sites does not on XRP transactions.

[Natalim]

Yes XRP is a good option, but sometimes these websites charge like 20 XRP, which is ridiculous and destroys the purpose of being a good currency for gambling and what not.

I think 20 XRP per withdrawal is so huge knowing how cheap the transaction fee of XRP in reality.

They are overcharging, instead of gamblers getting a chance to have a cheap transition fee, they are abusing it and making it hard for gamblers.
If a site will continue to do that, they'll lose their gamblers as there's a lot of gambling sites that offer a cheap withdrawal to gave gamblers satisfaction.

[Oilacris]

Yes XRP is a good option, but sometimes these websites charge like 20 XRP, which is ridiculous and destroys the purpose of being a good currency for gambling and what not.

I think 20 XRP per withdrawal is so huge knowing how cheap the transaction fee of XRP in reality.

They are overcharging, instead of gamblers getting a chance to have a cheap transition fee, they are abusing it and making it hard for gamblers.
If a site will continue to do that, they'll lose their gamblers as there's a lot of gambling sites that offer a cheap withdrawal to gave gamblers satisfaction.

If this is fixed then its totally too much and knowing XRP is one of the most good alternative in terms of fees and confirmation time.
Current value: 20 XRP = $12 USd as of this writing so theyre charging that much into the players and i dont know on why they do end up with that
fee charging.

Sooner or later then this site will really lose its popularity when players are really mindful or complaining about the fees which it isnt really that justifiable.

If they would make it at least dynamic then it would be a good one but for fixed? Then good luck on them.

[iv4n]

Yes XRP is a good option, but sometimes these websites charge like 20 XRP, which is ridiculous and destroys the purpose of being a good currency for gambling and what not.

I think 20 XRP per withdrawal is so huge knowing how cheap the transaction fee of XRP in reality.
...

I would like to know the names of those websites that charge 20 XRP for withdrawing, to not visit them ever! I gamble with XRP from time to time, and I never had some high fees, it's like in cents, even from the exchange max is 1 XRP!

BTC price VS gambling... it's pretty interesting when you gamble in these times! I have some BTC at Stake, and my setting shows dollar value! So one day I open Stake and I have $230... I gamble a bit and with some luck, I push it to $250... next day I open stake and I have $230 again! And I am trying to make $20 again to be where I was the day before! I guess only people who are gambling with crypto know how crazy crypto gambling can be!

[Desmong]

I agree with you that altcoin is a very good alternative gamble with bitcoin the value of altcoin is increasing a lot. In the case of bitcoin higher prices are required later but as the value of altcoins is lower the demand for investment is higher here small gamblers can start with a little the risk is less here. But before that to analyze the market well. ETH and BNB may be the best among altcoin like bitcoin their prices rise.

Bitcoin price is very versatile compared to other altcoins that may be observing few spike in price which also relate to drop in price. Using Bitcoin to gamble could place some threat and sharp fluctuation in price, reducing the worth within minutes. I prepare using altcoins in gambling especially placing bets than Bitcoin with high fluctuation ability to affects gamblers in making fast decisions. More good is still coming in choice making for gamblers with the rate at which new coins are sporing out this days.

[freedomgo]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

Actually, we already did that in trading but we do not realize it. When we analyze the market and do not know where the price will go, we only give a random price that bitcoin will reach, which is gambling. But we did not think that is gambling because we will say that is my prediction for the bitcoin price.

It will be a gambler's choice whether they want to use bitcoin or altcoin. If they use bitcoin to gamble, they will still use it whenever the bitcoin price is high.

Well, we should not be surprised by that as we are gambling with bitcoin, we have to get used to its high volatility. We don't need to become a good trader in order to understand it, it's very much basic, you make some, you lose some, that's like gambling also, you win or lose. For sure if we ask gamblers, they would not say they have a problem with volatility, their problem is the high fees when the market is congested.

When the market is congested, that will be a pain for us because we will think twice to use bitcoin to gamble. But fortunately, we have altcoin that can accommodate our needs to play gambling and keep our bitcoin for other things.

A gambler will still play gambling, and if they really like bitcoin, they will use bitcoin. Otherwise, they will take a break for a while and waiting until the fee can reduce a lot.

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

It would be a great news if the most popular crypto gambling sites in the space will begin adding TRC20 USDT to their platform, unfortunately, there are still plenty of gambling sites that are not supporting TRC20 USDT. Hopefully they'll realize soon that it will help them gain more gamblers and that would result to an increase of revenue, regardless of the market situation, anyone can gamble without worries as stable coin gives the solution.

[acquafredda]

The price does not change my way of betting: first of all, I only bet with fiat money, no more crypto and secondly my budget for that is very low. And I am not a regular anymore as I used to bet basically every week while now I bet every once in a while when I feel myself inspired. I wasted huge loads of money on gambling and I would rather learn from that experience.

[pakhitheboss]

I think if you often guess the price movement of bitcoin on several sites and use money for betting then it is certain that it includes gambling and the risk you do is very big because the predicted bitcoin price is not always correct, it is better to predict the price without spend money but can pay off when your guess is right.

Actually, we already did that in trading but we do not realize it. When we analyze the market and do not know where the price will go, we only give a random price that bitcoin will reach, which is gambling. But we did not think that is gambling because we will say that is my prediction for the bitcoin price.

It will be a gambler's choice whether they want to use bitcoin or altcoin. If they use bitcoin to gamble, they will still use it whenever the bitcoin price is high.

Well, we should not be surprised by that as we are gambling with bitcoin, we have to get used to its high volatility. We don't need to become a good trader in order to understand it, it's very much basic, you make some, you lose some, that's like gambling also, you win or lose. For sure if we ask gamblers, they would not say they have a problem with volatility, their problem is the high fees when the market is congested.

When the market is congested, that will be a pain for us because we will think twice to use bitcoin to gamble. But fortunately, we have altcoin that can accommodate our needs to play gambling and keep our bitcoin for other things.

A gambler will still play gambling, and if they really like bitcoin, they will use bitcoin. Otherwise, they will take a break for a while and waiting until the fee can reduce a lot.

Altcoins can be a great option, we can use TRC20 USDT and pay only 1 USD per transaction, gambling sites just need to add it to their payment method so gamblers will have a lot of options. As a gambler, we always look for cheap fees and fast transactions and the only answer is the altcoins, actually, it's easy, let's just educate ourselves and we can gamble without a problem regardless of the market situation.

It would be a great news if the most popular crypto gambling sites in the space will begin adding TRC20 USDT to their platform, unfortunately, there are still plenty of gambling sites that are not supporting TRC20 USDT. Hopefully they'll realize soon that it will help them gain more gamblers and that would result to an increase of revenue, regardless of the market situation, anyone can gamble without worries as stable coin gives the solution.

stable coin will the best solution for fluctuating prices while gambling. Apart from TRC20 USDT if BUSD can be also added to the gambling platform then it will not only reduce the withdrawal fee but also will help gamblers to count the exact loss or profit. At the moment because of the volatility of crypto price it is somewhat hard to calculate the exact amount.

[ethereumhunter]

The price does not change my way of betting: first of all, I only bet with fiat money, no more crypto and secondly my budget for that is very low. And I am not a regular anymore as I used to bet basically every week while now I bet every once in a while when I feel myself inspired. I wasted huge loads of money on gambling and I would rather learn from that experience.

At least, you know what currency you will use to gamble, and that does not impact your way to gamble. Using fiat money, I think we can clearly see how much money we want to gamble and not gamble more than we can afford. That will prevent us from adding more money unless we are curious about the game and still want to test our luck. But that will be the way for us to get more losses. Yes, we already got so much experience from gambling and it will be better if we can prevent the loss anymore.

[acquafredda]

The price does not change my way of betting: first of all, I only bet with fiat money, no more crypto and secondly my budget for that is very low. And I am not a regular anymore as I used to bet basically every week while now I bet every once in a while when I feel myself inspired. I wasted huge loads of money on gambling and I would rather learn from that experience.

At least, you know what currency you will use to gamble, and that does not impact your way to gamble. Using fiat money, I think we can clearly see how much money we want to gamble and not gamble more than we can afford. That will prevent us from adding more money unless we are curious about the game and still want to test our luck. But that will be the way for us to get more losses. Yes, we already got so much experience from gambling and it will be better if we can prevent the loss anymore.

It was a deliberate choice to avoid any big betting with crypto. Considering what happened to me in the past, when crypto prices were orders of magnitude less than what they are today, I cannot make mistakes. That is why, if I bet, and usually now it is mostly for fun, it is only via fiat money. The first shitcoin, is always the best to gamble with.