BTC price VS gambling

[acquafredda]

Logically speaking, most of you would need to start betting again using bitcoin as the price is cooling down and transaction fees are not that high right now.
I think the only way to play and be content with any outcome is to think always in fiat currency terms when you gamble.
I bought an amazon card for 3 btc once, if today I think how much is that today I should bury myself in the sand.

[ethereumhunter]

Logically speaking, most of you would need to start betting again using bitcoin as the price is cooling down and transaction fees are not that high right now.
I think the only way to play and be content with any outcome is to think always in fiat currency terms when you gamble.
I bought an amazon card for 3 btc once, if today I think how much is that today I should bury myself in the sand.

Maybe some gambler will be back to use bitcoin to bet than to use altcoin as before. But many of them still use altcoin and think about saving their bitcoin as a long-term investment, and they can buy bitcoin at the current price and hold it. Maybe if we can use the term fiat currency, for example, we will gamble using $10-$15 in a week or month, and no matter how much bitcoin or altcoin price, we still use that fiat currency as initial money. By using that amount, we can convert it into bitcoin or altcoin.

[stadus]

Logically speaking, most of you would need to start betting again using bitcoin as the price is cooling down and transaction fees are not that high right now.
I think the only way to play and be content with any outcome is to think always in fiat currency terms when you gamble.
I bought an amazon card for 3 btc once, if today I think how much is that today I should bury myself in the sand.

Maybe some gambler will be back to use bitcoin to bet than to use altcoin as before. But many of them still use altcoin and think about saving their bitcoin as a long-term investment, and they can buy bitcoin at the current price and hold it. Maybe if we can use the term fiat currency, for example, we will gamble using $10-$15 in a week or month, and no matter how much bitcoin or altcoin price, we still use that fiat currency as initial money. By using that amount, we can convert it into bitcoin or altcoin.

If the transaction fee will go down, more so with altcoins since most of them are traded in bitcoin or affected when bitcoin price goes down. For gamblers who like to minimize the fee or save a lot, altcoins are the only answers to that and it's way more faster compared to bitcoin. In short, bitcoin is not really good for gambling especially if the market situation is more volatile as usually the fees are higher than the normal days.

[Fredomago]

If the transaction fee will go down, more so with altcoins since most of them are traded in bitcoin or affected when bitcoin price goes down.

That's practially right, once the fee for bitcoin lower down it will reflect with alts as well, and those who already enjoyed how
things works using known alts they will continue using it.

For gamblers who like to minimize the fee or save a lot, altcoins are the only answers to that and it's way more faster compared to bitcoin.

Way faster and the fees is much lesser compared to what Bitcoin got up to now.

In short, bitcoin is not really good for gambling especially if the market situation is more volatile as usually the fees are higher than the normal days.

Yeah right, especially if you are a type of budgeted gambler, using bitcoin might let you to think twice..

[acquafredda]

Logically speaking, most of you would need to start betting again using bitcoin as the price is cooling down and transaction fees are not that high right now.
I think the only way to play and be content with any outcome is to think always in fiat currency terms when you gamble.
I bought an amazon card for 3 btc once, if today I think how much is that today I should bury myself in the sand.

Maybe some gambler will be back to use bitcoin to bet than to use altcoin as before. But many of them still use altcoin and think about saving their bitcoin as a long-term investment, and they can buy bitcoin at the current price and hold it. Maybe if we can use the term fiat currency, for example, we will gamble using $10-$15 in a week or month, and no matter how much bitcoin or altcoin price, we still use that fiat currency as initial money. By using that amount, we can convert it into bitcoin or altcoin.

Stake, for example, allows you to see your balance in fiat currency equivalent and this has two main implications: on one side you may feel like you are betting fiat money but the reality is that if you switch the currency option back to crypto, you will notice that your money was simply exchanged to represent that fiat equivalent to you.
Some may like this option but I would stick to the crypto valuation.

[Silberman]

Logically speaking, most of you would need to start betting again using bitcoin as the price is cooling down and transaction fees are not that high right now.
I think the only way to play and be content with any outcome is to think always in fiat currency terms when you gamble.
I bought an amazon card for 3 btc once, if today I think how much is that today I should bury myself in the sand.

For those that are gambling with very lows amount of money it still makes sense to gamble only with altcoins because of the fees they need to pay, but for the ones that are gambling with slightly more money it makes more sense to begin to gamble with bitcoin once again especially if you can find a moment in which the mempool is not as busy, and about thinking in terms of fiat when you use your bitcoin I think this makes the most sense otherwise you are always going to wonder what could have been if you had those coins back and this is never a healthy attitude to have.

[Botnake]

Logically speaking, most of you would need to start betting again using bitcoin as the price is cooling down and transaction fees are not that high right now.
I think the only way to play and be content with any outcome is to think always in fiat currency terms when you gamble.
I bought an amazon card for 3 btc once, if today I think how much is that today I should bury myself in the sand.

For those that are gambling with very lows amount of money it still makes sense to gamble only with altcoins because of the fees they need to pay, but for the ones that are gambling with slightly more money it makes more sense to begin to gamble with bitcoin once again especially if you can find a moment in which the mempool is not as busy, and about thinking in terms of fiat when you use your bitcoin I think this makes the most sense otherwise you are always going to wonder what could have been if you had those coins back and this is never a healthy attitude to have.

If you have enough money, you don't need to find the timing to minimize the fees, I'm petty sure you can afford to pay 10 to 50 usd for a transaction if you really are gambling with a decent amount. Only gamblers with small bankroll would not like that fee, they can use altcoins to gamble sot save.

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

[oHnK]

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

For big bettors, transaction fees are not a problem and I totally agree.  Only we little bettors have thought of all the ways to minimize costs.  They think more about sites that keep their data confidential is the best.  Personal data for big bettors is the most important thing to protect.  For us it is not a problem as long as the transaction fee is small.  Yet what is most valuable is the anonymity of site users.

[Vaculin]

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

For big bettors, transaction fees are not a problem and I totally agree.  Only we little bettors have thought of all the ways to minimize costs.  They think more about sites that keep their data confidential is the best.  Personal data for big bettors is the most important thing to protect.  For us it is not a problem as long as the transaction fee is small.  Yet what is most valuable is the anonymity of site users.

For us the small fee and the anonymity which is still possible despite of the bull run.
Bull run usually makes the market more congested, hence fees will increase but since gambling sites have seen the result in the past, they have added more deposit options and that's adding more altcoins which I believe liquid enough even possible to cater whales who like the use an altcoins.

[milewilda]

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

For big bettors, transaction fees are not a problem and I totally agree.  Only we little bettors have thought of all the ways to minimize costs.  They think more about sites that keep their data confidential is the best.  Personal data for big bettors is the most important thing to protect.  For us it is not a problem as long as the transaction fee is small.  Yet what is most valuable is the anonymity of site users.

For us the small fee and the anonymity which is still possible despite of the bull run.
Bull run usually makes the market more congested, hence fees will increase but since gambling sites have seen the result in the past, they have added more deposit options and that's adding more altcoins which I believe liquid enough even possible to cater whales who like the use an altcoins.

This is right and if gambling sites does only have one option when it comes to deposit or simply on payment then they wont really sustain long due for players to be hesitant on playing due to fees.
We cant deny that it does hurt when making up transactions when fees are these up high.Not all would able to afford it specially if it do talks about 10 bucks anytime you do make out some withdrawal.
or even depositing coins came from your own wallet would really hurt and this is why we do always have the option to take which is on using altcoins.
It do really solves out the problem when it comes to fees and faster confirmations.

[LUCKMCFLY]

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

For big bettors, transaction fees are not a problem and I totally agree.  Only we little bettors have thought of all the ways to minimize costs.  They think more about sites that keep their data confidential is the best.  Personal data for big bettors is the most important thing to protect.  For us it is not a problem as long as the transaction fee is small.  Yet what is most valuable is the anonymity of site users.

For us the small fee and the anonymity which is still possible despite of the bull run.
Bull run usually makes the market more congested, hence fees will increase but since gambling sites have seen the result in the past, they have added more deposit options and that's adding more altcoins which I believe liquid enough even possible to cater whales who like the use an altcoins.

This is right and if gambling sites does only have one option when it comes to deposit or simply on payment then they wont really sustain long due for players to be hesitant on playing due to fees.
We cant deny that it does hurt when making up transactions when fees are these up high.Not all would able to afford it specially if it do talks about 10 bucks anytime you do make out some withdrawal.
or even depositing coins came from your own wallet would really hurt and this is why we do always have the option to take which is on using altcoins.
It do really solves out the problem when it comes to fees and faster confirmations.

Well you are right that many players can and must pay high fees to withdraw, however in most platforms there are currencies such as Ripple, Cardano, Tron that have much lower rates, sometimes the same platforms may have a Internal exchange, I am not very familiar with the issue of licenses, if for an Internal Exchange you have to request a license other than the one they previously possess.

But as players, they must assume the fees that must be paid, the casinos cannot pay those fees that belong to each person, that is an expense that each player must assume.

Many casinos are introducing new currencies,  BNB, ADA, so that players have these facilities, many times the players do not see the effort that the platforms make to find the best comfort for them, sometimes it is much more comfortable To bet with those currencies than with Bitcoin or ETH, a good technique is that the value is not seen as a cryptocurrency, but rather the value corresponding to the dollar, accordingly, bet according to dollars or Euro depending on the currency of the player's preference .

[panganib999]

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

For big bettors, transaction fees are not a problem and I totally agree.  Only we little bettors have thought of all the ways to minimize costs.  They think more about sites that keep their data confidential is the best.  Personal data for big bettors is the most important thing to protect.  For us it is not a problem as long as the transaction fee is small.  Yet what is most valuable is the anonymity of site users.

I agree to this idea. Fees are only a very small part of deduction for those big players in gambling and some transactions. BTC price can affect the gambling experience because some fees in some gambling sites are definitely fixed. It is good if BTC sometimes go down in order to have small fees rather than the bigger one but i f the BTC rally up and continuously to go bullish, I think the fees are also getting higher. Just like what happen to the ETH and alts last rally before the correction week. We all know that BTC and Gambling are definitely connected in some ways but not in all ways.

[Silberman]

For those that are gambling with very lows amount of money it still makes sense to gamble only with altcoins because of the fees they need to pay, but for the ones that are gambling with slightly more money it makes more sense to begin to gamble with bitcoin once again especially if you can find a moment in which the mempool is not as busy, and about thinking in terms of fiat when you use your bitcoin I think this makes the most sense otherwise you are always going to wonder what could have been if you had those coins back and this is never a healthy attitude to have.

If you have enough money, you don't need to find the timing to minimize the fees, I'm petty sure you can afford to pay 10 to 50 usd for a transaction if you really are gambling with a decent amount. Only gamblers with small bankroll would not like that fee, they can use altcoins to gamble sot save.

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

Without a doubt those that are gambling with a decent amount of capital do not care at all about the fees we are seeing on the bitcoin network right now, but the majority of the gamblers out there are small stakes gamblers and they cannot really afford to make several of those transactions or most of the money they had planned to use for their gambling activities is going to be used on the fees and I am pretty sure that most people do not want that to happen to them which is why the use of altcoins to gamble is seeing a resurgence.

[maydna]

Fees are not really a major problem for huge bettors, they keep their privacy on anonymity, that matters a lot and they can take the expense.

For big bettors, transaction fees are not a problem and I totally agree.  Only we little bettors have thought of all the ways to minimize costs.  They think more about sites that keep their data confidential is the best.  Personal data for big bettors is the most important thing to protect.  For us it is not a problem as long as the transaction fee is small.  Yet what is most valuable is the anonymity of site users.

I agree to this idea. Fees are only a very small part of deduction for those big players in gambling and some transactions. BTC price can affect the gambling experience because some fees in some gambling sites are definitely fixed. It is good if BTC sometimes go down in order to have small fees rather than the bigger one but i f the BTC rally up and continuously to go bullish, I think the fees are also getting higher. Just like what happen to the ETH and alts last rally before the correction week. We all know that BTC and Gambling are definitely connected in some ways but not in all ways.

But don't forget that many gamblers are small gamblers who expect to make money from gambling. They really concern the fee, and if the bitcoin fee becomes higher, they will move from bitcoin to altcoin, which has a low fee. With the bitcoin price is at more than $40k-$49k, it will have a high fee, making a small gambler stop gambling using bitcoin and convert it into altcoin before they send the funds from their wallet into their account.

I am sure that will not impact the big gamblers who have a lot of money because the fee is high or low. They will still use bitcoin to gamble.

[Heisenberg_Hunter]

...snip...

Regardless of bitcoin fees, I think people would continue to bet using bitcoin. BnB has been dominating the market with the really good scalability and cheaper fees but they are literally centralized and same goes with TRX. I think to prevent the higher fees, casinos could partner with popular bitcoin exchanges and consider doing an internal transfer too. The underlying problem is that, both casinos and exchanges charge the users a little higher than the withdrawal fees i.e bitcoin fees currently stands at $10 confirmations but exchanges like Binance and a few gambling sites have a fixed withdrawal fees of 0.0005 btc

In future, if Lightning Network gets adopted on a larger scale in every exchange and casinos we would be seeing drastic reduction in withdrawal fees.

To bet with those currencies than with Bitcoin or ETH, a good technique is that the value is not seen as a cryptocurrency, but rather the value corresponding to the dollar, accordingly, bet according to dollars or Euro depending on the currency of the player's preference .

If a person is from US, they would consider betting in bitcoin or ethereum since majority of the altcoins are still not being allowed to be traded.

[2double0]

I think to prevent the higher fees, casinos could partner with popular bitcoin exchanges and consider doing an internal transfer too.
<<snip>>

Partner with popular exchanges?
If an exchange like Binance even smells that your funds are coming from a gambling website and you are not a kyc verified user of their exchange, they will freeze your account and even make you agree on their terms of not bringing in any gambling funds to their exchange as it happened to so many users in the past.

[harizen]

Partner with popular exchanges?
If an exchange like Binance even smells that your funds are coming from a gambling website and you are not a kyc verified user of their exchange, they will freeze your account and even make you agree on their terms of not bringing in any gambling funds to their exchange as it happened to so many users in the past.

If ever it happened, why Binance will still push on that policy if they will make a partnership with a gambling site. Anyways, just to be clear, that was just an example as no way it will happen. The suggestion of internal transfer makes sense as all transactions will be done on the same platform, hence saving fees. It was already considered by other projects especially those underlying ERC20 transactions for example.

However about our subject here, low chance of popular exchanges to make a partnership with a gambling site.

[MCobian]

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.

[Lanatsa]

I think to prevent the higher fees, casinos could partner with popular bitcoin exchanges and consider doing an internal transfer too.
<<snip>>

Partner with popular exchanges?
If an exchange like Binance even smells that your funds are coming from a gambling website and you are not a kyc verified user of their exchange, they will freeze your account and even make you agree on their terms of not bringing in any gambling funds to their exchange as it happened to so many users in the past.

I don't see the probability of those integration of gambling sites directly with those known exchangers as of this moment knowing that these platforms are highly regulated

which means its neither they do accept gambling funds or not but most likely they do prohibit it out when you do look at most terms of conditions of exchangers
where gambling funds are restricted.So this kind of suggestion is off the charts.

For those instant exchange like changelly,coinswitch etc. then those things are enough but when it comes to fees then you should expect higher.

[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.

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.