BTC price VS gambling

[Oilacris]

We care about how high the bitcoin price is now and it is better we sell bitcoin at the exchange than just to gamble.

For me, I do both, selling bitcoin and gambling it, I don't mix things up because I can enjoy both. When we are a gambler, we should still gamble regardless of the price as casinos or gambling sites are still willing to accept our bets, besides, if we worry about the fee, we can always use altcoins as an alternative for the moment.

Investment and gambling should be separated because when you do really value your coins that much then you shouldnt make use of it on the first place in gambling
and in regards to fees then we could always have that option on using up altcoins which does have lesser fee.

Towards the price of bitcoin and on the times the fee is high then we could always find ways on avoiding that and also majority of gamblers doesnt mind on how much they would be
spending in coin value because everything would really be varying on usd form.

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[shield132]

We care about how high the bitcoin price is now and it is better we sell bitcoin at the exchange than just to gamble.

For me, I do both, selling bitcoin and gambling it, I don't mix things up because I can enjoy both. When we are a gambler, we should still gamble regardless of the price as casinos or gambling sites are still willing to accept our bets, besides, if we worry about the fee, we can always use altcoins as an alternative for the moment.

Bitcoin trading is gambling at some point too, it turns into dangerous gambling when you use leverage. Otherwise, you still win/lose the money. The only difference here is that you can't 100% lose money, your capital will never become zero but in gambling, one wrong bet can ruin the party, btw the reward is instant there, you can double your capital in just a second.

Some casinos, like fortunejack, fully cover the withdraw fee but you have to meet their withdrawal requirements. The great pro of this is that you don't have a need to use different currencies and you can save some $ on convertation fees.

[Saint-loup]

the corresponding amount of cryptos is then calculated and used as stake of the bet. For example you can bet 100$ but your balance in BTC will be used instead of any fiat currency.

Like they have in stake, where you can wage in multiple fiat currencies but the coins you deposit are cryptocurrencies and you can wage according to the user experience as some prefer to see the valuation in their local currency.

Yes that's what I said in the unquoted part of my post... Please use "snip" or "[...]" when you don't quote entirely my posts, because people won't understand what you're talking about instead.

I am a small time gambler compared to some of the heavy users, but still for me the price of cryptocurrency has a major role in my gambling habits and my selection of the coin also depends upon the market valuation and the ease of moving around.

You should gamble on Stake and try the feature we are talking about above, then price fluctuations won't affect anymore your betting strategy.

[passwordnow]

For me, I do both, selling bitcoin and gambling it, I don't mix things up because I can enjoy both. When we are a gambler, we should still gamble regardless of the price as casinos or gambling sites are still willing to accept our bets, besides, if we worry about the fee, we can always use altcoins as an alternative for the moment.

For those gamblers that have been there, price is a factor but nothing can stop them from doing so because they've been doing that for ages. And whatever the price of bitcoin or any altcoin that they prefer to gamble, they'll gamble no matter what the price really is.
Some that do sell their bitcoin, later on they'll be using the cash to buy back and deposit it on the casino whether it'll be in bitcoin again but bought in a cheaper price or with another altcoin that has cheaper fees.

[fortunecrypto]

For those gamblers that have been there, price is a factor but nothing can stop them from doing so because they've been doing that for ages. And whatever the price of bitcoin or any altcoin that they prefer to gamble, they'll gamble no matter what the price really is.
Some that do sell their bitcoin, later on they'll be using the cash to buy back and deposit it on the casino whether it'll be in bitcoin again but bought in a cheaper price or with another altcoin that has cheaper fees.

If you're only into gambling you're going to do that but if you are both a gambler and a trader, the market price is very important and make an impact on how he plays and what coins he is going to use, in my case I prefer to use altcoins like Tron when the market is going down, I hold on, on the top coins in the market, there's no guaranty that you are going to win in gambling but you can in the market.

[ethereumhunter]

We care about how high the bitcoin price is now and it is better we sell bitcoin at the exchange than just to gamble.

For me, I do both, selling bitcoin and gambling it, I don't mix things up because I can enjoy both. When we are a gambler, we should still gamble regardless of the price as casinos or gambling sites are still willing to accept our bets, besides, if we worry about the fee, we can always use altcoins as an alternative for the moment.

Yes, you can do both, selling bitcoin and gambling it, and I am sure you know that by gambling and win the games, you will have a chance to have more bitcoin. But the others will not think the same as when the bitcoin price increase, they better sell and take profit from trading.

Crypto gamblers will know what coin they will use, whether that will be bitcoin or altcoin, and they will choose which coin can make them comfortable to use the coin to gambling. Fortunately, online crypto gambling has so many options for the coins to gamble so we do not have to be afraid about the fee.

We as crypto users prefer to gamble at crypto online gambling sites because we do not have to verify our account by doing KYC and the best part is we have so many options of the coins to gamble. We can avoid using fiat money to gamble as that can give attention to our banks and investigate our accounts.

So when we use crypto to gamble, most of us do not use bitcoin to gamble but we use altcoin, which is not too expensive. So bitcoin will not be our concern to be used for gambling. We care about how high the bitcoin price is now and it is better we sell bitcoin at the exchange than just to gamble.

would be quite interesting to see how bitcoin price correlates to amount of gambling on online casinos
I suppose we can't easily find it anywhere, can we?
we could guess that higher price would lead to less gambling acitivity but I wouldn't be surprised to see that the opposite could happen

Yes, it is not easy to find it. At least, bitcoin price correlates with online crypto gambling as people will think by themselves and know for sure the coin they will use to gamble. The higher bitcoin price will affect crypto gambling, but with many altcoins available on many crypto online gambling, it does not stop gamblers from using the altcoin to gamble.

[agustina2]

The higher bitcoin price will affect crypto gambling, but with many altcoins available on many crypto online gambling, it does not stop gamblers from using the altcoin to gamble.

Good thing there are alternatives. Fees really suck.

Just imagine recently, I'm trying to deposit ETH from an exchange on a gambling site the fees associated were 0.003ETH around $11. No choice but to convert it instead but obviously, that coin or token should also be listed on the gambling site.

Or if no choice but to face the $11 fees, I need to do a large deposit and not by batches to save fees at least.

[Lordshiva]

The higher bitcoin price will affect crypto gambling, but with many altcoins available on many crypto online gambling, it does not stop gamblers from using the altcoin to gamble.

Good thing there are alternatives. Fees really suck.

Just imagine recently, I'm trying to deposit ETH from an exchange on a gambling site the fees associated were 0.003ETH around $11. No choice but to convert it instead but obviously, that coin or token should also be listed on the gambling site.

Or if no choice but to face the $11 fees, I need to do a large deposit and not by batches to save fees at least.

Yes this is problem that I face too. And usually deposit small amounts and paying that much fee if I am depositing only 50 USD then I am already in loss and that mindset comes in gambling also that I need to cover those as well which may result in further loss in gambling

[Cling18]

We care about how high the bitcoin price is now and it is better we sell bitcoin at the exchange than just to gamble.

For me, I do both, selling bitcoin and gambling it, I don't mix things up because I can enjoy both. When we are a gambler, we should still gamble regardless of the price as casinos or gambling sites are still willing to accept our bets, besides, if we worry about the fee, we can always use altcoins as an alternative for the moment.

I'm also enjoying gambling regardless of the current price. As for me, it's still important that we're allocating enough portion for gambling no matter what the market situation is. We should also allocate enough for investment so we'll never have regrets of disappointment if ever the market boom.

[ethereumhunter]

The higher bitcoin price will affect crypto gambling, but with many altcoins available on many crypto online gambling, it does not stop gamblers from using the altcoin to gamble.

Good thing there are alternatives. Fees really suck.

Just imagine recently, I'm trying to deposit ETH from an exchange on a gambling site the fees associated were 0.003ETH around $11. No choice but to convert it instead but obviously, that coin or token should also be listed on the gambling site.

Or if no choice but to face the $11 fees, I need to do a large deposit and not by batches to save fees at least.

Many of us have experience with the fees and we feel happy that we have many alternatives to playing gambling games. We can use the other cheap coin fees so we do not have to pay $11 in ETH to deposit on the gambling site.

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

[blockman]

I'm also enjoying gambling regardless of the current price. As for me, it's still important that we're allocating enough portion for gambling no matter what the market situation is. We should also allocate enough for investment so we'll never have regrets of disappointment if ever the market boom.

A responsible gambler will put some of those BTC on his portfolio just to be safe and will also put what's needed to be gambled. You don't have to compromise your other activity if you're trying to save just because of the price of bitcoin. You can do everything that you want and it all lies down to how you manage the allocations that can be done easily by just putting everything on the right budget. As you invest and gamble, do not try to use your investment funds if you lose.

[Beparanf]

The higher bitcoin price will affect crypto gambling, but with many altcoins available on many crypto online gambling, it does not stop gamblers from using the altcoin to gamble.

Good thing there are alternatives. Fees really suck.

Just imagine recently, I'm trying to deposit ETH from an exchange on a gambling site the fees associated were 0.003ETH around $11. No choice but to convert it instead but obviously, that coin or token should also be listed on the gambling site.

Or if no choice but to face the $11 fees, I need to do a large deposit and not by batches to save fees at least.

Many of us have experience with the fees and we feel happy that we have many alternatives to playing gambling games. We can use the other cheap coin fees so we do not have to pay $11 in ETH to deposit on the gambling site.

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

The current blockchain network status of Ethereum has still no improvement and not suitable for gambling. I'm currently using Bitcoin and USDT as the fee is normal now except if you are holding coins on exchange which has a very expensive flat rate withdrawal fee. Depositing large amount on gambling sometimes good to save transaction. Some Casino offers a voluntary limit of account spend on gambling so that you can limit your loss. This feature is really helpful for addicted gamblers who has no self control when gambling. IIRC, Bitcasino and there sister company offer this service when I read there TOS but you will require to email them directly about this feature.


Edit

You can read here about Self Exclusion: https://bitcasino.io/help-center/help-your-account/responsible-gaming

[hahay]

I'm also enjoying gambling regardless of the current price. As for me, it's still important that we're allocating enough portion for gambling no matter what the market situation is. We should also allocate enough for investment so we'll never have regrets of disappointment if ever the market boom.

A responsible gambler will put some of those BTC on his portfolio just to be safe and will also put what's needed to be gambled. You don't have to compromise your other activity if you're trying to save just because of the price of bitcoin. You can do everything that you want and it all lies down to how you manage the allocations that can be done easily by just putting everything on the right budget. As you invest and gamble, do not try to use your investment funds if you lose.

Right, keep everything separate because if you are still mixing funds for gambling and investing, then it is very possible that you will lose your own investment funds that have not been allocated properly. I've personally experienced this a few times where I basically didn't have a well-managed allocation at the time and also, a lack of control that got things messed up. But for now, I personally only use the money that has really been allocated just for gambling, so even if the price of bitcoin goes up or down I will not care about it because I will only focus on my gambling funds.

[Lucasgabd]

The higher bitcoin price will affect crypto gambling, but with many altcoins available on many crypto online gambling, it does not stop gamblers from using the altcoin to gamble.

Good thing there are alternatives. Fees really suck.

Just imagine recently, I'm trying to deposit ETH from an exchange on a gambling site the fees associated were 0.003ETH around $11. No choice but to convert it instead but obviously, that coin or token should also be listed on the gambling site.

Or if no choice but to face the $11 fees, I need to do a large deposit and not by batches to save fees at least.

Many of us have experience with the fees and we feel happy that we have many alternatives to playing gambling games. We can use the other cheap coin fees so we do not have to pay $11 in ETH to deposit on the gambling site.

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

this is interesting
in most cases people could batch deposits in one big chunk to save on fees
but this is not the smartest decision for gambling, specially online because its so easy to slip and end up spending more than we are expecting too

maybe this could be solved if casinos added a safe box or locked staking option?

[agustina2]

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

You have a point there but for me that have funds mostly on Metamask (ETH), I can't avoid paying high fees. Even in the Swap feature of Metamask for swapping ETH to a token that was supported by some gambling sites, the fees are also high.

I thought the Berlin Upgrade will lessen the fees in the long-run. That's why depositing in a big amount, maybe a minimum of $100 worth of ETH for a fee of $10 is the wise thing to do and do everything to budget that amount properly to long last my gambling activity.

[madnessteat]

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

You have a point there but for me that have funds mostly on Metamask (ETH), I can't avoid paying high fees. Even in the Swap feature of Metamask for swapping ETH to a token that was supported by some gambling sites, the fees are also high.

I thought the Berlin Upgrade will lessen the fees in the long-run. That's why depositing in a big amount, maybe a minimum of $100 worth of ETH for a fee of $10 is the wise thing to do and do everything to budget that amount properly to long last my gambling activity.

You are confusing the Berlin hardfork with the London hardfork, which implemented EIP-1559. Many of us as well as the developers hoped that with the activation of the London hardfork the commissions on the ETH network will decrease significantly. Unfortunately this did not happen.

Why you don't use cheaper ways to deposit to casino with altcoins like USDT, TRON (TRX) or LTC?

[alpamar99]

For those gamblers that have been there, price is a factor but nothing can stop them from doing so because they've been doing that for ages. And whatever the price of bitcoin or any altcoin that they prefer to gamble, they'll gamble no matter what the price really is.
Some that do sell their bitcoin, later on they'll be using the cash to buy back and deposit it on the casino whether it'll be in bitcoin again but bought in a cheaper price or with another altcoin that has cheaper fees.

it really depends on the point of view.
what you say here if I can classify it this is the point of view of a gambler they don't really care about price increases and decreases because they prioritize the gambling process they do.
but it will be a different story when a gambler but they are also in the path of a trader, of course this will be a different story because the point of view will also automatically be different because people who are on this path usually prioritize both in gambling and trading and of course the brand will think more about the risks that will be accepted when gambling both in the decline and increase in the price of bitcoin.

[Smartprofit]

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

You have a point there but for me that have funds mostly on Metamask (ETH), I can't avoid paying high fees. Even in the Swap feature of Metamask for swapping ETH to a token that was supported by some gambling sites, the fees are also high.

I thought the Berlin Upgrade will lessen the fees in the long-run. That's why depositing in a big amount, maybe a minimum of $100 worth of ETH for a fee of $10 is the wise thing to do and do everything to budget that amount properly to long last my gambling activity.

I have no hope of lowering fees on the Ethereum network.  

Ethereum is a worldwide decentralized computer.  The network supports many applications.  The functionality of each of the popular applications is constantly getting more complicated.  

At the same time, smart contracts provide for the payment of higher fees compared to regular transactions.  The number of Internet users is also constantly growing.  

This is due to the hype around Decentralized Finance (DeFi) as well as NFT.  

As a result, code updates do not produce the desired result.  

The fees on the Ethereum network are likely to always be high.

[blockman]

I'm also enjoying gambling regardless of the current price. As for me, it's still important that we're allocating enough portion for gambling no matter what the market situation is. We should also allocate enough for investment so we'll never have regrets of disappointment if ever the market boom.

A responsible gambler will put some of those BTC on his portfolio just to be safe and will also put what's needed to be gambled. You don't have to compromise your other activity if you're trying to save just because of the price of bitcoin. You can do everything that you want and it all lies down to how you manage the allocations that can be done easily by just putting everything on the right budget. As you invest and gamble, do not try to use your investment funds if you lose.

Right, keep everything separate because if you are still mixing funds for gambling and investing, then it is very possible that you will lose your own investment funds that have not been allocated properly. I've personally experienced this a few times where I basically didn't have a well-managed allocation at the time and also, a lack of control that got things messed up. But for now, I personally only use the money that has really been allocated just for gambling, so even if the price of bitcoin goes up or down I will not care about it because I will only focus on my gambling funds.

There were scenarios that it actually happened and that's why if you're going to gamble with your cryptos, just make sure that you're also not going to touch any from your portfolio so that you won't be affecting that's just sleeping on your investments.
It is where emotion and self-control come because not everyone can do that in an instant and they have to learn the tough way if they cannot control themselves. But it's depending on how they're going to choose their actions and what they think is better for them.

[virasog]

I always prevent depositing a large amount because that can make me forget about controlling myself in gambling games. I am sure if there will be more altcoins added to the gambling games with low fees in the future as the crypto gambling business grows.

You have a point there but for me that have funds mostly on Metamask (ETH), I can't avoid paying high fees. Even in the Swap feature of Metamask for swapping ETH to a token that was supported by some gambling sites, the fees are also high.

I thought the Berlin Upgrade will lessen the fees in the long-run. That's why depositing in a big amount, maybe a minimum of $100 worth of ETH for a fee of $10 is the wise thing to do and do everything to budget that amount properly to long last my gambling activity.

You are confusing the Berlin hardfork with the London hardfork, which implemented EIP-1559. Many of us as well as the developers hoped that with the activation of the London hardfork the commissions on the ETH network will decrease significantly. Unfortunately this did not happen.

Why you don't use cheaper ways to deposit to casino with altcoins like USDT, TRON (TRX) or LTC?

Eth fee will decrease with the passage of time when Eth Staking will be enabled however for gambling we have many other options like trx and litecoin. You can use these coins when you deposit / withdraw into gambling site. You will not only save a lot of fee but also since the price of these coins is less, you can manage your money more easily.