BTC price VS gambling

[carlfebz2]

~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.

Talking about utility then we cant really deny that smart contracts is way more better but minding off on how Bitcoin works is just really sufficient to do the job well since we are pertaining about making transactions.

In regards on BTC price vs gambling then this is something where people doesnt really mind off because investment and entertainment is something shouldnt really be collided.

You could play despite of its price and into its fees and if you are someone who doesnt really like to waste up your precious coins then you could always stop.

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[agustina2]

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/

That's the discussion above but still no change of fees. We should at least feel it today as 2.0 is now deployed.

ETH has still a long way to solve their fees problem. If continue, no more token will reside on their network as there are lots of good competitors now such as BSC, Kardia, Wax which is fast and cheaper.

[goinmerry]

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,

Gamblers who only have ETH on their assets and want to gamble, then do the large batch of deposits to practically save fees. They can also give up their ETH and trade it for another coin so that next time, the fees are cheaper when they deposit again at a gambling site.

For small-time gamblers, then just don't choose ETH. No need to wait for the scalability of fees in ETH networks as it will take time, or maybe, a long time. If I'm not mistaken, ETH 2.0 now takes place but users can't still feel the cheaper gas. But back last month IIRC, fees are cheaper with the same congestion status. I don't know how it becomes high again.

[STT]

I really don't care about the price of Bitcoin since 0.0001 BTC is still 0.0001 BTC

Thats the best attitude to have long term, USD or other FIAT currencies are in decline without doubt.    That also means its better to lose dollars then Bitcoin so I'd be more cautious on BTC focusing in that way.

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.

ETH fees could drop in time to below a cent if POS works as efficiently as possible.   ETH is a gamble itself, I spent ETH last year to win a BTC gamble and even though I won I slightly regretted using up the ETH just before it rose even more then BTC has done which almost nobody expected.

[babo]

~~~~


Thats the best attitude to have long term, USD or other FIAT currencies are in decline without doubt.    That also means its better to lose dollars then Bitcoin so I'd be more cautious on BTC focusing in that way.


~~~~

if you start thinking of bitcoin as the only currency in your life
it doesn't matter anymore

let me explain
if you mentally convert bitcoin into dollars, you will always have that idea, I don't spend them because it could increase in value (FIAT)

but if that were the case, if Laszlo hadn't bought pizza, we wouldn't be here

I invite you to think in bitcoin and not in dollars

[Peanutswar]

I really don't care about the price of Bitcoin since 0.0001 BTC is still 0.0001 BTC

Thats the best attitude to have long term, USD or other FIAT currencies are in decline without doubt.    That also means its better to lose dollars then Bitcoin so I'd be more cautious on BTC focusing in that way.

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.

ETH fees could drop in time to below a cent if POS works as efficiently as possible.   ETH is a gamble itself, I spent ETH last year to win a BTC gamble and even though I won I slightly regretted using up the ETH just before it rose even more then BTC has done which almost nobody expected.

The price of the coin we are using into a gambling platform has a different types it, there are platform using a stable coin for their wages like the USD and there are platform using the amount of the the coin we deposit but somehow still riding on the market volatility. Most of the platform today adopt the use of different option for the speed up transactions and adopt the use of the exchange into other coin if you want to have lower fees.

[Lucasgabd]

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.

another solution would be seeing casinos updating for layer 2 or other accepting other coins incluyding ETH
correct me if I'm wrong but this is the reason many accept DOGE, cheap fees and fast transactions

[Botnake]

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.

another solution would be seeing casinos updating for layer 2 or other accepting other coins incluyding ETH
correct me if I'm wrong but this is the reason many accept DOGE, cheap fees and fast transactions

Accepting more coins will be the solution, as long as the coin has good liquidity, they should add it. I'm using DOGE in gambling before, but when the price is pumped I don't anymore see it as a good currency for gambling, therefore I go back to using XRP where the transaction fee is still very cheap even if the price is high.

[Fredomago]

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.

Yes, indeed. It will affect you once you look with current price, if you are a conservative type of gambler which the first intention is to win decision making with the market movement will affect you to decide and push for more, or skip for a while and enjoy with some decent.
profits.

Cashing it out with much higher value from the current market it gives you twice the benefits using bitcoin as your base capital.

Though if things turned against you, it may just like a two edge sword that will hit you from both ends.
Once you quit and the value of bitcoin is currently down, expect that you lose more than what you think of.

[Natalim]

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.

Yes, indeed. It will affect you once you look with current price, if you are a conservative type of gambler which the first intention is to win decision making with the market movement will affect you to decide and push for more, or skip for a while and enjoy with some decent.
profits.

Cashing it out with much higher value from the current market it gives you twice the benefits using bitcoin as your base capital.

Though if things turned against you, it may just like a two edge sword that will hit you from both ends.
Once you quit and the value of bitcoin is currently down, expect that you lose more than what you think of.

That would become your gambling activities more complicated because you are also trading at the same time, I'm afraid you might lose your focus. Actually, if we want to really focus, then we should just use a stable coin with a cheaper transaction fee, for now, the best stable coin is USDT (TRON).

My only concern is not all gambling sites have supported USDT (TRON) as part of the payment system.

[FatFork]

That would become your gambling activities more complicated because you are also trading at the same time, I'm afraid you might lose your focus. Actually, if we want to really focus, then we should just use a stable coin with a cheaper transaction fee, for now, the best stable coin is USDT (TRON).

My only concern is not all gambling sites have supported USDT (TRON) as part of the payment system.

Volatility has always accompanied cryptocurrencies. There is nothing new here. Since the first Bitcoin casino, this has been our reality, and it's part of what makes crypto gambling so much fun. When I think about how much Dogecoin I've gambled in the past ... 

If you are looking for stable currencies, why not use fiat-based casinos? I'm sure there are plenty of them online.

[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.

Yes, indeed. It will affect you once you look with current price, if you are a conservative type of gambler which the first intention is to win decision making with the market movement will affect you to decide and push for more, or skip for a while and enjoy with some decent.
profits.

Cashing it out with much higher value from the current market it gives you twice the benefits using bitcoin as your base capital.

Though if things turned against you, it may just like a two edge sword that will hit you from both ends.
Once you quit and the value of bitcoin is currently down, expect that you lose more than what you think of.

That's the usual scene.

It happened to me that I've lost and the price of bitcoin has increased. Well, I don't have those bitcoins that I've spent already at a low rate and then looking at the price that had pumped already.

It is regretting when that happened.

[stadus]

That would become your gambling activities more complicated because you are also trading at the same time, I'm afraid you might lose your focus. Actually, if we want to really focus, then we should just use a stable coin with a cheaper transaction fee, for now, the best stable coin is USDT (TRON).

My only concern is not all gambling sites have supported USDT (TRON) as part of the payment system.

Volatility has always accompanied cryptocurrencies. There is nothing new here. Since the first Bitcoin casino, this has been our reality, and it's part of what makes crypto gambling so much fun. When I think about how much Dogecoin I've gambled in the past ... 

If you are looking for stable currencies, why not use fiat-based casinos? I'm sure there are plenty of them online.

There's always a choice to go with fiat sportsbook, but if you'll ask me, I would rather go with crypto gambling sites that do not require KYC and just use a stable coin to gamble if I don't like the volatility in the market. We choose to gamble here because we want to keep our privacy and it will not happen with fiat casinos as they are fully regulated and your transaction can easily be trace since you are required to pass the KYC requirement before you can start.

Crypto gambling made gamble easy, even kids nowadays can use crypto to bypass the age requirement, so whether we use bitcoin or a stable coin, this is still the place where we enjoy 100% freedom.

[Oilacris]

That would become your gambling activities more complicated because you are also trading at the same time, I'm afraid you might lose your focus. Actually, if we want to really focus, then we should just use a stable coin with a cheaper transaction fee, for now, the best stable coin is USDT (TRON).

My only concern is not all gambling sites have supported USDT (TRON) as part of the payment system.

Volatility has always accompanied cryptocurrencies. There is nothing new here. Since the first Bitcoin casino, this has been our reality, and it's part of what makes crypto gambling so much fun. When I think about how much Dogecoin I've gambled in the past ... 

If you are looking for stable currencies, why not use fiat-based casinos? I'm sure there are plenty of them online.

There's always a choice to go with fiat sportsbook, but if you'll ask me, I would rather go with crypto gambling sites that do not require KYC and just use a stable coin to gamble if I don't like the volatility in the market. We choose to gamble here because we want to keep our privacy and it will not happen with fiat casinos as they are fully regulated and your transaction can easily be trace since you are required to pass the KYC requirement before you can start.

Crypto gambling made gamble easy, even kids nowadays can use crypto to bypass the age requirement, so whether we use bitcoin or a stable coin, this is still the place where we enjoy 100% freedom.

I have long time turned my back with fiat casinos or sportsbook when crypto casinos and bookies do already exist because of that KYC thing and i dont really mind on using my coins and whether the price or value is high because i dont look for investment side when i do play.

When fees becomes too high then this is the time i do consider on using up stable coins or other altcoins which does have lesser fees. Most of the time when bitcoin is mooning or does have some fundamentals
which causes for fees to soar up then its a common problem.