BTC price VS gambling

[vennali]

I mean trading is basically that isnt it? Gambling on BTC price? You could trade Options and futures to make it more in line with gambling nature. It was a great time to buy calls for ETH and BTC this month. especially ETH. Could do the same with alts as well.

It's different from what we are discussing here as they don't fall into the gambling category although when you are investing you gamble on the risk. What we are discussing is the fees now while gambling, the high fees have affected most of us especially the micro gamblers, not the other way around.

I have personally switched to Fiat to the most parts of gambling. Apologize for only reading the last bits of the page. I was gambling in ETH few months ago but now I just HODL and switched to fiat for the time being. The amount of time it takes to deposit BTC has risen considerably as well as the fees. Not attractive anymore.

[South Park]

^ As I remember correctly because I don't have enough knowledge on technical stuff on BTC transactions. The 3 confirmations consider as safe and can not be reversed but this is only for small transactions like $1k below. However, in large transactions like millions of dollars in BTC amount will need six confirmation, this is the standard for most transactions to be considered secure. It would be love to use a gambling site that offer for free withdrawal fee and I hope all of them are generous enough to have that free fees upon withdrawal.

I would like to know how many gamblers in the crypto operate with amounts of millions of dollars. In my opinion, there are very few of them and they are unlikely to be anonymous, since if the casino makes transactions of several million dollars without knowing the information about the client, it can be accused of money laundering.

That's part of it, gambling sites will automatically ask for your KYC if you have such amount of transactions, if the site do have the permits the regulations required this information.

Not sure what are the set up but like what you have said, it can be accused as money laundering if that huge amount just passed by without any knowledge about the owner of that money.

The site also needs to protect their business for sure complying with the law is far important to them.

And we must be honest under those circumstances asking for KYC information makes sense, even if we do not like it there are some scenarios in which KYC makes sense and this is one of them, however forcing people to go through KYC policies when they are just betting a few hundreds of dollars is wrong and that is when players are justified to complain about such policies and to try to find another casino that does not force those policies on them under those circumstances.

[maydna]

~snip~

There's no problem with that especially for high-stakes bettors as they usually bet huge money. $10 is just a small amount, the fact that we are taking the risk of price volatility and still using it in gambling, then $10 dollar should not hurt our wallet. Consider that as just a small fee if you are winning big time in gambling, even $100, I would not mind it if I'm winning like $1000 or more in gambling.

Yes, it is better not to think about the fees if we can win big money because if we still think to use a small fee, I am afraid that we will have a waiting time to receive the money, which can confuse or restless when the money arrives.

I have personally switched to Fiat to the most parts of gambling. Apologize for only reading the last bits of the page. I was gambling in ETH few months ago but now I just HODL and switched to fiat for the time being. The amount of time it takes to deposit BTC has risen considerably as well as the fees. Not attractive anymore.

Using fiat will allow us to know how much money we will use to gamble and not worry about price volatility. Using bitcoin or ethereum today feels not good for small gamblers because when we lose for some rounds, we will see a big loss in our account. But if we use fiat, we only see the amount of the money, and perhaps, we can manage how much money we should use to gamble.

[Fredomago]

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-Snip-

And we must be honest under those circumstances asking for KYC information makes sense, even if we do not like it there are some scenarios in which KYC makes sense and this is one of them, however forcing people to go through KYC policies when they are just betting a few hundreds of dollars is wrong and that is when players are justified to complain about such policies and to try to find another casino that does not force those policies on them under those circumstances.

Correct, it should  weigh in and justify each circumstances. There are gamblers who loves to continue as anonymous using small amount of fund to gamble.

They are just having some fun and they don't want to reveal their identities, choosing crypto related casinos gives them tha privilege but if the house as for KYC the very chance that they'll away from the site and find new place to continue their activities.

Proper balance is in need by the house owner to established good relationship within each gamblers to enjoy their stay.

[decodx]

-snip-

They are just having some fun and they don't want to reveal their identities, choosing crypto related casinos gives them tha privilege but if the house as for KYC the very chance that they'll away from the site and find new place to continue their activities.

That is exactly what happened recently with Roobet casino. They have been one of my favorite crypto casinos so far, but they have recently implemented mandatory KYC verification.

After the closure of YOLOdice, this is the second casino that has disappointed me this year, forcing me to search for a new gambling platform.

[Mahanton]

-snip-

They are just having some fun and they don't want to reveal their identities, choosing crypto related casinos gives them tha privilege but if the house as for KYC the very chance that they'll away from the site and find new place to continue their activities.

That is exactly what happened recently with Roobet casino. They have been one of my favorite crypto casinos so far, but they have recently implemented mandatory KYC verification.

After the closure of YOLOdice, this is the second casino that has disappointed me this year, forcing me to search for a new gambling platform.

Its up to your own choice but i do really agree with this one because we are here into this market is for the sake of anonymity and any for of KYC would really be a big
turn off for most people here.I aware with that sudden KYC requirement with Roobet but it isnt really that much of an issue as long you dont sent out any documents or some sort.
You can always input fake details but hope that you wont be experiencing any problems that would really ask out for some verification because that will surely fucked you up.
We do have lots of choices when it comes to gambling sites and its not really a problem on which one would suit out the best.

[boyptc]

Well, if you transfer real time and you'll take and convert it into your main coin.

It doesn't matter whether it is ltc or doge. As long as transfer is very quick and cheap.

You can't control the volatility of a certain coin, it could drop 10% to 20% in just a matter of minutes, or the opposite could happen. Just face the reality that volatility is here, you don't only play to win in gambling, you also play to win the volatility... if you want ot stay out of volatility, then use stable coins in gambling.

If it's the volatility that's being concerned, you should stick to the fiat-deposit option of the casino or yeah, stable coins.

We gamble and deposit with the amount that we've decided to transfer and that's the quantity that we've already thought of. The concern of mine is just all about quick and cheap transfers.

[Natalim]

Well, if you transfer real time and you'll take and convert it into your main coin.

It doesn't matter whether it is ltc or doge. As long as transfer is very quick and cheap.

You can't control the volatility of a certain coin, it could drop 10% to 20% in just a matter of minutes, or the opposite could happen. Just face the reality that volatility is here, you don't only play to win in gambling, you also play to win the volatility... if you want ot stay out of volatility, then use stable coins in gambling.

If it's the volatility that's being concerned, you should stick to the fiat-deposit option of the casino or yeah, stable coins.

We gamble and deposit with the amount that we've decided to transfer and that's the quantity that we've already thought of. The concern of mine is just all about quick and cheap transfers.

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling. Well, we just have to analyze in what way we can save money, otherwise, we will already lose money the moment we make a deposit due to high fees.

[boyptc]

Well, if you transfer real time and you'll take and convert it into your main coin.

It doesn't matter whether it is ltc or doge. As long as transfer is very quick and cheap.

You can't control the volatility of a certain coin, it could drop 10% to 20% in just a matter of minutes, or the opposite could happen. Just face the reality that volatility is here, you don't only play to win in gambling, you also play to win the volatility... if you want ot stay out of volatility, then use stable coins in gambling.

If it's the volatility that's being concerned, you should stick to the fiat-deposit option of the casino or yeah, stable coins.

We gamble and deposit with the amount that we've decided to transfer and that's the quantity that we've already thought of. The concern of mine is just all about quick and cheap transfers.

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling. Well, we just have to analyze in what way we can save money, otherwise, we will already lose money the moment we make a deposit due to high fees.

Yeah, the one that must be avoided is the stable coins that has a protocol of lower fees and not in Ethereum because its fee is high.

It is normal that you'll have to pay for fees but if you consider that you've lost already, it's up to you.

[Lanatsa]

Well, if you transfer real time and you'll take and convert it into your main coin.

It doesn't matter whether it is ltc or doge. As long as transfer is very quick and cheap.

You can't control the volatility of a certain coin, it could drop 10% to 20% in just a matter of minutes, or the opposite could happen. Just face the reality that volatility is here, you don't only play to win in gambling, you also play to win the volatility... if you want ot stay out of volatility, then use stable coins in gambling.

If it's the volatility that's being concerned, you should stick to the fiat-deposit option of the casino or yeah, stable coins.

We gamble and deposit with the amount that we've decided to transfer and that's the quantity that we've already thought of. The concern of mine is just all about quick and cheap transfers.

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling. Well, we just have to analyze in what way we can save money, otherwise, we will already lose money the moment we make a deposit due to high fees.

Not all gambling sites do accept Stablecoins which means you wont really have any choice but to stick into those known altcoins with having also lesser fees.

When it comes to gaps of fees then they aren't really that too far off and when it comes to confirmation then its still almost on the same.So we do have lots of options to take.

For thinking off with those fees as a losses then I do disagree with that because you are really needing to pay up for such transaction though it is big compared into those
normal days but it isn't just right to use up those words.

[Rengga Jati]

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling.

Stablecoins especially those that use ERC20 platforms will really need very high fees for transferring. At least, we need more than $10 commonly when transferring stable coins from an exchange to others or to the gambling sites.
So far, if there are more altcoins that have lower fees, gamblers will prefer using it.
Some that are probably favorable are likely XRP, XLM, and also LTC

[Maslate]

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling.

Stablecoins especially those that use ERC20 platforms will really need very high fees for transferring. At least, we need more than $10 commonly when transferring stable coins from an exchange to others or to the gambling sites.
So far, if there are more altcoins that have lower fees, gamblers will prefer using it.
Some that are probably favorable are likely XRP, XLM, and also LTC

If it's coming from an exchange, then it depends on a certain exchange too. But the cheapest according to my experience is XRP, you don't need to pay a whole 1 XRP to get your transaction to confirm fast, even 10% of 1 xrp, it will confirm your transaction automatically. In addition, it's liquid, so any exchanges you like to trade it, you can do it without a problem. 

[Botnake]

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling.

Stablecoins especially those that use ERC20 platforms will really need very high fees for transferring. At least, we need more than $10 commonly when transferring stable coins from an exchange to others or to the gambling sites.
So far, if there are more altcoins that have lower fees, gamblers will prefer using it.
Some that are probably favorable are likely XRP, XLM, and also LTC

If it's coming from an exchange, then it depends on a certain exchange too. But the cheapest according to my experience is XRP, you don't need to pay a whole 1 XRP to get your transaction to confirm fast, even 10% of 1 xrp, it will confirm your transaction automatically. In addition, it's liquid, so any exchanges you like to trade it, you can do it without a problem. 

Just make sure it's not from hitbtc as they really charge a huge fee. There are small exchanges that do not charge big for altcoins transfers, hitbtc charges 12 XRP per transaction while Yobit only charges 0.5 xrp per withdrawal, but with a minimum of I guess 22 xrp, I can't memorize but they have a minimum. But also, it's important that you trust the sites I've mentioned, they don't have a good reputation here but I had no problem using them.

[traderethereum]

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling.

Stablecoins especially those that use ERC20 platforms will really need very high fees for transferring. At least, we need more than $10 commonly when transferring stable coins from an exchange to others or to the gambling sites.
So far, if there are more altcoins that have lower fees, gamblers will prefer using it.
Some that are probably favorable are likely XRP, XLM, and also LTC

If it's coming from an exchange, then it depends on a certain exchange too. But the cheapest according to my experience is XRP, you don't need to pay a whole 1 XRP to get your transaction to confirm fast, even 10% of 1 xrp, it will confirm your transaction automatically. In addition, it's liquid, so any exchanges you like to trade it, you can do it without a problem. 

XRP has a low fee, but not all gambling sites use XRP for deposit or withdrawal.
Maybe LTC is the popular altcoins available on many gambling sites as LTC is one of the oldest coins used for betting playing gambling besides bitcoin, ethereum, and dogecoin.
The fee of litecoin is not too high compared to bitcoin or ethereum.
But still, dogecoin is the low fee to withdraw, so dogecoin is still the favorite of many gamblers to gamble.

[MrcMrc]

That most reputable gambling site only accepts bitcoin makes it hard for users to take advantage of the low fees associated with XRP and the rest of other altcoins that issue low fees. But if you are playing in a site that accepts deposits in another crypto aside from Bitcoin then you should hold your BTC and gamble with other currencies with low fees.

[mindrust]

That most reputable gambling site only accepts bitcoin makes it hard for users to take advantage of the low fees associated with XRP and the rest of other altcoins that issue low fees. But if you are playing in a site that accepts deposits in another crypto aside from Bitcoin then you should hold your BTC and gamble with other currencies with low fees.

Makes sense. Bitcoin is digital gold after all. You don't spend it, you don't use it. You hold it because it goes only up. You only spend/use the other less gold-like currencies. I would normally advise people to use dogecoin but seeing it outperforming every other crypto lately I start to regret my view on it. Apparently the coin everybody was laughing at made the most buck for the holders since the last year.

[South Park]

Stable coins also have a stable transaction fee, especially if under erc20 tokens.. I guess altcoins with cheap fees are still favorable, especially for gamblers with small bankrolls in gambling. Well, we just have to analyze in what way we can save money, otherwise, we will already lose money the moment we make a deposit due to high fees.

Stable coins that run above the ethereum network have to pay a fee like any other coin and that fee is variable as it needs to be paid in ethereum, I do not know if this is the case for the stable coins that are running on their own blockchain but at least when it come to the stable coins running on ethereum I am pretty sure this is the case because I have used some of them some time ago, but when it comes to gambling there is no doubt that coins that can deliver fast and cheap transactions are preferred and this is why doge is a very popular coin to gamble.

[TheGreatPython]

I would normally advise people to use dogecoin but seeing it outperforming every other crypto lately I start to regret my view on it. Apparently the coin everybody was laughing at made the most buck for the holders since the last year.

I do see that dogecoin's up surge is due to bitcoin's nature of slowly becoming a pure digital asset rather than being a payment system. I guess that you do not need to be regretting. Dogecoin must be the best option to gamble with. Fee for transacting in dogecoins is still 1 doge which is approximately 1100 satoshi must be cheaper these days.

I foresee like bitcoin will value in millions hence people will afraid to spend it which will make all other altcoins to replace bitcoins in gambling industry completely. People will rarely spend bitcoins which might not include gambling as well.

[ShowOff]

I foresee like bitcoin will value in millions hence people will afraid to spend it which will make all other altcoins to replace bitcoins in gambling industry completely. People will rarely spend bitcoins which might not include gambling as well.

It depend on who and how a person's gambling habits are. If they don't care about transaction fee, then bitcoin and ethereum will still be used for gambling. The transaction fee don't really affect the whales' gambling habit, they will still use whatever bitcoin and altcoin they want. For some people, regardless of the current value of bitcoin, they will still think that 1 bitcoin = 1 bitcoin.

Altcoin that have low transaction fee are an option for most gambler with minimal capital, this will be of great help. So bitcoin will still continue to be used in gambling by those who never care about transaction fee in my opinion.

[Raflesia]

I foresee like bitcoin will value in millions hence people will afraid to spend it which will make all other altcoins to replace bitcoins in gambling industry completely. People will rarely spend bitcoins which might not include gambling as well.

It depend on who and how a person's gambling habits are. If they don't care about transaction fee, then bitcoin and ethereum will still be used for gambling. The transaction fee don't really affect the whales' gambling habit, they will still use whatever bitcoin and altcoin they want. For some people, regardless of the current value of bitcoin, they will still think that 1 bitcoin = 1 bitcoin.

Altcoin that have low transaction fee are an option for most gambler with minimal capital, this will be of great help. So bitcoin will still continue to be used in gambling by those who never care about transaction fee in my opinion.

Maybe until now the most used in gambling is bitcoin and Ethereum is one of the coins that are popular in the community so they don't care about fees, and this is only one transaction in the deposit and withdrawal this is not done very often by their whales. with large capital so it will take a long time to play in gambling using crypto.
So it is true that this is only an option of a middle class and minimal altcoin, so that is the best alternative choice so that many people will do it as they like.
Even millions of dollars of Bitcoin will not be a problem in the future, gambling will remain on top of bitcoin with many users.