BTC price VS gambling

[milewilda]

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.

Some people couldnt really just see these alternatives as these things had been already available for a while now where you can make use of other altcoins which does have lesser fee if there are some sudden
incidents where high gas fee and also with Bitcoin on the times where the network is clogged which most of the time this is the main culprit on why fees are really on the rooftop but it doesnt mean that
we cant really take of some alternative for us to save some bucks on making transaction.

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[Russlenat]

~snip~

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

Then we can no longer expect that ETH is good for gambling as a payment method.

For bitcoin, we can enjoy a lower fee if we transact at the right timing, we can play less than a dollar for a huge transaction, unlike ETH where the transaction fee is still consistently high. As the gambling sites are updating as to what coins they will accept, I guess it's not hard for us to find an altcoin to use in gambling.

[timerland]

I'm not sure why people are playing with ETH, tbh.

BTC fees are lower than ETH gas these days if you actually follow the two coins. And I'd say that it's still relatively much more liquid compared to ETH.

The higher BTC prices are certainly great for casinos given that their turnover/volume soars during periods of bull markets. Whales who have held bitcoin for years don't care about fiat valuations - they play the games in terms of BTC.

[passwordnow]

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.

Being a trader is a different matter and sure it is an important factor as it is where you're earning with your trades, from the market volatility and changes in the price of cryptos that you're trading. As long as you're fine using altcoins or bitcoins when you gamble and the fee isn't that much, that's the case. While for the meantime, those who gambles with Ethereum, they might find it expensive today as the fees are not joking anytime soon and it's still quite high despite with the recent changes.

[Saint-loup]

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

No, the self exclusion scheme as nothing to do with a so called limit of your spendings. When you claim a self-exclusion you're not able to bet anymore in any way, you can't even access your account anymore in some casinos. But some platforms like Stake offer a Vault feature, where you can lock the funds you don't want to spend immediately into gambling games.

[babo]

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.

well if you only use bitcoin as a unit of measurement, without ever going to FIAT, then the point of view or the exchange rate does not matter
in my humble opinion
in that case you bet and win or lose bitcoin, it doesn't matter how much it's worth

[Maslate]

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.

well if you only use bitcoin as a unit of measurement, without ever going to FIAT, then the point of view or the exchange rate does not matter
in my humble opinion
in that case you bet and win or lose bitcoin, it doesn't matter how much it's worth

I can't think of that, I always consider my bitcoin equivalent to the fiat value as that is the only way to measure its value, that's why trading platforms exist. We are living in a world where fiat is widely accepted and bitcoin still lacks regulation, so we cannot use our bitcoin in anything that we want to buy.

For gamblers, I think bitcoin or any crypto is only use as a payment method but they always based the value on fiat.

[babo]

well if you only use bitcoin as a unit of measurement, without ever going to FIAT, then the point of view or the exchange rate does not matter
in my humble opinion
in that case you bet and win or lose bitcoin, it doesn't matter how much it's worth

I can't think of that, I always consider my bitcoin equivalent to the fiat value as that is the only way to measure its value, that's why trading platforms exist. We are living in a world where fiat is widely accepted and bitcoin still lacks regulation, so we cannot use our bitcoin in anything that we want to buy.

For gamblers, I think bitcoin or any crypto is only use as a payment method but they always based the value on fiat.

I find it difficult and confusing
so you have a double check to do, you have to check if you lose (the bet) and you have to consider if you lose because bitcoin drops in value

I find it quite crazy, but the world is beautiful because we are all different

[hahay]

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.

well if you only use bitcoin as a unit of measurement, without ever going to FIAT, then the point of view or the exchange rate does not matter
in my humble opinion
in that case you bet and win or lose bitcoin, it doesn't matter how much it's worth

I can't think of that, I always consider my bitcoin equivalent to the fiat value as that is the only way to measure its value, that's why trading platforms exist. We are living in a world where fiat is widely accepted and bitcoin still lacks regulation, so we cannot use our bitcoin in anything that we want to buy.

For gamblers, I think bitcoin or any crypto is only use as a payment method but they always based the value on fiat.

If so, you should only use fiat gambling and not crypto gambling. If you continue to associate it with fiat, then I think it would be better for your crypto to be a long-term investment or maybe day trading, because I think it will be more compatible with you. In this case, when we are already on a crypto gambling site, we should not pay attention to the rise and fall of prices, because if we still take it into account then I think it will slightly interfere with our way of betting using crypto. But yes, I know they are different and if you are comfortable with such calculations then just do it because after all, they will do according to their respective calculations and discipline.

[harizen]

I'm not sure why people are playing with ETH, tbh.

Not actually they are playing with ETH but there are people who hold ETH and then the time they now decide to gamble it by depositing it on gambling sites, they will face the horrible fees. They end up with no choice but to face the fees or not to play totally.

ETH fees are really a pain in the ass on some gamblers. The best move would be, like I read on some previous post here, depositing not by small amounts but rather a one time good and decent amount. And another option would be, they can choose to deal with one-time high fees by converting most of their ETH into a coin with low fees such as BNB, TRX then just decide to convert it every time they gamble. In that way, no need to face those high fees with ETH just to gamble.

[RokokGudangGaram]

Before, I really don't care about the price of Bitcoin since 0.0001 BTC is still 0.0001 BTC but on the website where I'm playing gambling games it automatically converts my Bitcoin to USD and yes I see the value of my coin and it really affects my gambling style, right now I change gambling site I'm staying at bustabit now since it's all BTC.

[finist4x]

Of course, Bitcoin, top altcoins and dynamic tokenized assets are the most interesting and very long-lasting gambling game.

It has its own cyclical nature and is systematically supplemented with new tools and players. The most important thing I think is to discard unnecessary noise and focus on the most important.

[delfastTions]

I'm not sure why people are playing with ETH, tbh.

Not actually they are playing with ETH but there are people who hold ETH and then the time they now decide to gamble it by depositing it on gambling sites, they will face the horrible fees. They end up with no choice but to face the fees or not to play totally.

ETH fees are really a pain in the ass on some gamblers. The best move would be, like I read on some previous post here, depositing not by small amounts but rather a one time good and decent amount. And another option would be, they can choose to deal with one-time high fees by converting most of their ETH into a coin with low fees such as BNB, TRX then just decide to convert it every time they gamble. In that way, no need to face those high fees with ETH just to gamble.

Alas, if now you are faced with payments in Ethereum, then we can only regret you. 
 Even if, as you suggest converting Ethereum to BNB or Tron, you will still face insane fees when you get started with eth.  So, initially, it is no longer worth choosing gambling sites with Ethereum at all.  And play, for example, in Tron, where possible.  And the most annoying thing is that Ethereum, even after the London hard fork, does not say anything intelligible about the commissions and it seems they are not going to bring them to a reasonable limit.

[Smartprofit]

~snip~

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

Then we can no longer expect that ETH is good for gambling as a payment method.

For bitcoin, we can enjoy a lower fee if we transact at the right timing, we can play less than a dollar for a huge transaction, unlike ETH where the transaction fee is still consistently high. As the gambling sites are updating as to what coins they will accept, I guess it's not hard for us to find an altcoin to use in gambling.

Yes that's right.  Currently, there are many alternative options. 

For example, Bitcoin Cash cryptocurrency.  Roger Ver and Jihan Wu promoted this cryptocurrency as a replacement for real Bitcoin.  They failed to move Bitcoin from the 1st place.  However, Bitcoin Cash is fairly common. 

It is a very popular cryptocurrency.  It can be exchanged for Bitcoin at many exchangers.  Many online casinos accept Bitcoin Cash deposits. 

In addition, there are cryptocurrencies such as Tron, Litecoin, USDT.

[babo]

Before, I really don't care about the price of Bitcoin since 0.0001 BTC is still 0.0001 BTC but on the website where I'm playing gambling games it automatically converts my Bitcoin to USD and yes I see the value of my coin and it really affects my gambling style, right now I change gambling site I'm staying at bustabit now since it's all BTC.

if you think directly in bitcoin you have no problem or this BIAS

that's why I invite you to think linearly, that is, only in bitcoin, and don't go crazy
sorry if i'm so radical, but i am sometimes stupid and i need simple things

[agustina2]

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?

Yeah got a typo with it and I'm sorry for that. What I meant is London Hardfork.

Why I'm not using cheaper coins? I've already mentioned a few posts before my post of mine that you got quoted.

The reason is, I have some ETH on my Metamask and when I try sending it to a gambling site, the gas fee is about $11. If I want to push it, it's wise that my deposit shouldn't be small so that I won't paying more fees whenever I want to deposit again.

[boyptc]

Before, I really don't care about the price of Bitcoin since 0.0001 BTC is still 0.0001 BTC but on the website where I'm playing gambling games it automatically converts my Bitcoin to USD and yes I see the value of my coin and it really affects my gambling style, right now I change gambling site I'm staying at bustabit now since it's all BTC.

In the long run, nothing will change if you're looking at the quantity of bitcoin that you're gambling with.

But your affection as look at those numbers knowing that the price has increased or decreased, you'll get to feel that it seems necessary for you to do some actions like saving more of it.

[South Park]

~snip~

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

Then we can no longer expect that ETH is good for gambling as a payment method.

For bitcoin, we can enjoy a lower fee if we transact at the right timing, we can play less than a dollar for a huge transaction, unlike ETH where the transaction fee is still consistently high. As the gambling sites are updating as to what coins they will accept, I guess it's not hard for us to find an altcoin to use in gambling.

The problem with ethereum compared to bitcoin is that bitcoin is only one project and for the most part it only does one thing and it aims to do so perfectly, while in the case of ethereum we are  talking about a very complex project that is aiming to do a lot of things and that has thousands of projects running above it, so the chances we are going to see some cheap fees are very low as there is always some kind of high demand in the ethereum network.

[Lucasgabd]

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.

as far as I know Berlin was more about changing structures like implementing the burn of part of the fee than making cheaper fees
these will come with staking, sharding and other solutions

truth is:
ethereum is not prepared for massive scaling, yet...

we'll see what will happen

in the meanwhile
batching to save on transaction fees is a good idea, for sure

[Sanitough]

truth is:
ethereum is not prepared for massive scaling, yet...

we'll see what will happen

in the meanwhile
batching to save on transaction fees is a good idea, for sure

That's for sure, about batching, it could help but most of the gamblers are small-time gamblers only who risk a small amount of money, so saving from the fees is really very important. With the ETH 2.0 update, it might help reduce the fees for ETH users in gambling,

https://cryptomode.com/will-ethereum-2-0-lower-gas-fees/

As explained earlier, congestion of the network is one of the main reasons for the high gas fees of ethereum. The upgrade is about to bring an increase in the transaction per second which will definitely reduce congestion of the network leading to a reduction in the transaction fees.