The Pros and Cons of Bitcoin Gambling

[_act_]

In my own opinion, I also believe that when we do the right thing in gambling, the results will definitely be good, so if we know that we have won many times, we must always learn to have so-called self-control and self-discipline.

If a gambler has won, he truly need to stop gambling, if I am the person, I will not even have it in mind to continue gambling, I will stop immediately I win. But many people see it more interesting and they will continue to gamble until they lose.

But also if a gambler do not even win at the first bet, he supposed not to continue to gamble, a single loss is a way to more losses as the person will want to win back his lost funds, but which it supposed not to be as the person is at the time more vulnerable to losses.

If that's the situation, I can say that this is a good opportunity for you to gamble where your capital can grow a little if you use the right gambling method and what's even better is that the Dogecoin charge you choose is very low if you use in gambling.

I prefer stable coins, if to use an unstable coin, I will prefer bitcoin during this time.

[1715027228]

1715027228

[1715027228]

1715027228

[1715027228]

1715027228

[1715027228]

1715027228

[1715027228]

1715027228

[ipanks]

snip

In addition, the current price of Dogecoin is still very cheap and even though the price can soar like the last time, gamblers still like to use Dogecoin. Fast transaction processing, low transaction fees, and the use of Dogecoin for betting that are not much are also factors why many people still use Dogecoin to gamble. Elon Musk has done his part to make the price of Dogecoin go up high and I don't know what other coin Elon will choose so that the price can go up high like Dogecoin.

[wxa7115]

In my own opinion, I also believe that when we do the right thing in gambling, the results will definitely be good, so if we know that we have won many times, we must always learn to have so-called self-control and self-discipline.

If a gambler has won, he truly need to stop gambling, if I am the person, I will not even have it in mind to continue gambling, I will stop immediately I win. But many people see it more interesting and they will continue to gamble until they lose.

But also if a gambler do not even win at the first bet, he supposed not to continue to gamble, a single loss is a way to more losses as the person will want to win back his lost funds, but which it supposed not to be as the person is at the time more vulnerable to losses.

What happens is that when people are winning they think themselves as being lucky that day and they do not want that luck to run out, I know it does not make sense as luck cannot possibly run out but that is the way they think, so they keep gambling trying to obtain more profits.

But as you may guess at some point they are not as lucky anymore and they begin to lose money, that would be a good moment to stop and call it a day, but then people do not want to stop at that point as now they feel they have lost money, even if in their accounts there is more money than when they began their session, this pushes them to keep gambling and eventually to have a losing session despite having such a promising start.

[mirakal]

As a gambler, we will surely want to choose a coin that is much cheaper and its volatility wouldn't surely hurt us that much if it will suddenly inclines or declines, and surely wouldn't mind thinking if they could influence such coin movement. I believe that on average gamblers are not using bitcoins upon betting in their favorite sports book or casino game.

This is why people preferred doge before all of this Elon stuff happened. We loved Doge for the fact that it was cheap, fast, and usually not volatile. It was accepted in most casinos, and it was like a joke money where you throw in 5k of it, 10k of it whatever, if you are rich enough then millions.

This is why it was such a good thing and now because of Elon Musk it became something that is a bit more volatile and because of that it became a bit more problematic. Of course there are still some coins which are low in price and you could send them with little cost, but they became not so great because of all the volatility in the market these days hence why not used.

Dogecoin is classified as sh*tcoin because it almost has no utility but gambler/investor still loves to spend it, especially when it comes to gambling activities as their prices don't move that much. I agree that Elon Musk has changed dogecoin but there are so many people who have been successful enough to duplicate Elon's actions before dogecoin dipped again. But that's fine, as a gambler, we always find ways what specific coin is good for gambling purposes.

Some do mind off on a coin which does have lesser volatility and some do find on something that does have potential to increase its price on wide range which in short this do really talks about
preference and not all would really be that having the likes on dealing with meme coins and been directly been using Bitcoin as their main coin to deal off with gambling.Some do mind about
accumulating bitcoin as much as they could and some doesnt really mind or simply deals on it since its been the most or the common currency or coin which majority of
casinos that do accept which you could find it almost everywhere.

Exactly because that certainly depends on the gambler itself if he or she will and wants use bitcoin to deal with the casino, but I believe that the minority of these gamblers are using other coins (coins that are cheap and has lesser volatility) in dealing with the casino, just like me. Some also sees bitcoin as a coin for hodling or trading purposes and some just used it without minding at all.

[KTChampions]

What happens is that when people are winning they think themselves as being lucky that day and they do not want that luck to run out, I know it does not make sense as luck cannot possibly run out but that is the way they think, so they keep gambling trying to obtain more profits.

But as you may guess at some point they are not as lucky anymore and they begin to lose money, that would be a good moment to stop and call it a day, but then people do not want to stop at that point as now they feel they have lost money, even if in their accounts there is more money than when they began their session, this pushes them to keep gambling and eventually to have a losing session despite having such a promising start.

Such behavior may be to some extent conditioned by classical literature. As you know, many authors were avid players and they transferred their prejudices to their books. And now some diligent students (who diligently read books in school  ) have the same prejudices that play against them. Very ironic.

[MonsterV]

In the past, gambling with bitcoins (let's say with crypto in general) was still good for a certain degree of anonymity. It seems to have disappeared due to the KYC. Granted, not all sites implement this. But even if you would sign up with only your email address, that is no guarantee that you can gamble anonymously. So I think we can no longer put the notion of anonymity on the scale as an advantage, because that seems to have disappeared. Fast deposits and withdrawals seem to be the most important right now.

[Saint-loup]

In the past, gambling with bitcoins (let's say with crypto in general) was still good for a certain degree of anonymity. It seems to have disappeared due to the KYC. Granted, not all sites implement this. But even if you would sign up with only your email address, that is no guarantee that you can gamble anonymously. So I think we can no longer put the notion of anonymity on the scale as an advantage, because that seems to have disappeared. Fast deposits and withdrawals seem to be the most important right now.

Which casino are you talking about precisely MonsterV? Because most of crypto casinos I know don't require KYC (including the one you're promoting) unless you're not a rather big winner. Bitcoins and other cryptos allow players to gamble quietly without being bored by issues with their bank or their state authorities prohibiting gambling at offshore casinos and all nice games.

[Mauser]

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

Right now it's very convenient for me to gamble with bitcoins because the price is so low. For long term investors gambling offers the chance to generate some passive income on times of low prices. A few months ago when the prices where much higher I was a bit reluctant to use crypto currencies for gambling. It seemed easier to gamble with fiat money. My main fear was I would lose bitcoins while the price would rise higher and I lost double because I had to buy back the bitcoins at a higher price. Now it's all about making some return on the side.
Gambling with bitcoins is very easy, you need no credit card or bank account. The coins can be directly transferred from your wallet to the casino and its faster than any wire transfer. Becoming addicted to gambling is a terrible thing and I don't think there is anything positive in it if you gamble with fiat or with bitcoins. I would assume that an addict makes no difference in what type of currency he uses to gamble. Maybe with bitcoins it's easier to give away access to your wallet to your family, to prevent yourself from gambling.

[_act_]

Dogecoin is classified as sh*tcoin because it almost has no utility but gambler/investor still loves to spend it, especially when it comes to gambling activities as their prices don't move that much. I agree that Elon Musk has changed dogecoin but there are so many people who have been successful enough to duplicate Elon's actions before dogecoin dipped again. But that's fine, as a gambler, we always find ways what specific coin is good for gambling purposes.

Using doge for gambling is one of its use, but still truly not having enough utility like bitcoin which even marchants are using, some countries like El Salvador and Central Africa Republic support bitcoin, but doge low transaction fee is part of the reasons it is used for gambling, but though not common like bitcoin.

But as for volatility, I will disagree with that, the price of doge increased to $0.8 all-time-high and now at $0.06, before the bull run that occured in 2021, there was a time doge was at $0.002, the coin is also very volatile, even it is one of the most volatile coin during the last bull run.

[YinShuiSiYuan]

Which casino are you talking about precisely MonsterV? Because most of crypto casinos I know don't require KYC (including the one you're promoting) unless you're not a rather big winner. Bitcoins and other cryptos allow players to gamble quietly without being bored by issues with their bank or their state authorities prohibiting gambling at offshore casinos and all nice games.

With bitcoin gambling there is no need for kyc for online casino's. Its advantage is that countries where gambling is not allowed can can take part in gambling while the down side is teens under 18 can also take part in such online gambling platforms. It's just a double edge sword IMO.

[AicecreaME]

- Is it convenient to play in the Bitcoin Gambling?
- How does Bitcoin gambling work?
- Does Bitcoin Gambling can give a good opportunity to everyone?

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin
  gambling

 Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

- online casinos that uses cryptocurrency will be always convenient to use, not just Bitcoin but all of the altcoins as well.

- Bitcoin gambling works like the usual gambling, the only difference is the currency being used.

- It is a great opportunity to make huge profits only if you're good at the game you pic or suffer the consequences because you're just curious and wanna try it.

- Gambling addiction is bad, so why would anyone call it a good result? LoL.

[Solosanz]

With bitcoin gambling there is no need for kyc for online casino's. Its advantage is that countries where gambling is not allowed can can take part in gambling while the down side is teens under 18 can also take part in such online gambling platforms. It's just a double edge sword IMO.

I'm surprised you can say this, I think you're not a regular gambler since you never faced the casino ask your KYC. It's true upon registration you don't need to submit KYC, but you should check their terms of service to know if the casino is really no KYC or KYCless. KYCless is the casino ask your KYC when they feel you doing suspicious activity on your account. But in some case, the casino ask to random gamblers even though they didn't do anything harm.

[KTChampions]

- online casinos that uses cryptocurrency will be always convenient to use, not just Bitcoin but all of the altcoins as well.

- Bitcoin gambling works like the usual gambling, the only difference is the currency being used.

- It is a great opportunity to make huge profits only if you're good at the game you pic or suffer the consequences because you're just curious and wanna try it.

- Gambling addiction is bad, so why would anyone call it a good result? LoL.

If I'm not mistaken, then there are (or were) fundamental differences - this is the provable fair system. Initially, it worked only for crypto gambling and this was a huge plus for those who want to be 100% sure of a fair game. I do not presume to say, but it seems to me that now this system is also used in regular casinos.

[mindrust]

The only downside of gambling with bitcoin is also its greatest strength. Being anonymous and unregulated. You are free from the government if you play on the right casino but when you have a problem with the casino, things may turn upside down because there isn’t a higher authority protect your rights. Decentralization and being anonymous cuts both ways. It is great while it is working but when it don’t, you are effed.

[btcbeograd]

 Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.



BITCOIN GAMBLING ADVANTAGES FOR PLAYERS

1. It is decentralized.
2. It is secure.
3. It is private.
4. It is fast.
5. It is not subject to inflation.
6. It is not always taxed
7. Bitcoin has (had) low transaction fees.

1. It is but once you send your coins to the casino, you are sent it to the centralized wallet.

2. Security depends on the casino.

3. Not anymore if you have to pass KYC for playing.

4. And sometimes very slow!

6. It is always taxed. You choose not to disclose your assets and earnings.

7. Not always.

4.It is untraceable

Not really. Bitcoin is pseudonymous. Not anonymous. And since you will provide your ID to the casino, it can be traced back to you.

and you have to pass KYC practically always unfortunately 

[Saint-loup]

Which casino are you talking about precisely MonsterV? Because most of crypto casinos I know don't require KYC (including the one you're promoting) unless you're not a rather big winner. Bitcoins and other cryptos allow players to gamble quietly without being bored by issues with their bank or their state authorities prohibiting gambling at offshore casinos and all nice games.

With bitcoin gambling there is no need for kyc for online casino's. Its advantage is that countries where gambling is not allowed can can take part in gambling while the down side is teens under 18 can also take part in such online gambling platforms. It's just a double edge sword IMO.

I don't understand why it's a matter if they are under 18. This is not porn websites or dark marketplaces. It's up to their parents to monitor them. Moreover when you are under 18 you usually have not much money to spend, and rarely a rent to pay, then risks of losing big amount of money and getting ruined is pretty low.

[BitcoinPanther]

In the past, gambling with bitcoins (let's say with crypto in general) was still good for a certain degree of anonymity. It seems to have disappeared due to the KYC. Granted, not all sites implement this. But even if you would sign up with only your email address, that is no guarantee that you can gamble anonymously. So I think we can no longer put the notion of anonymity on the scale as an advantage, because that seems to have disappeared. Fast deposits and withdrawals seem to be the most important right now.

I agree with the implementation of KYC all the anonymity advantage of Bitcoin has been nullified.  Now the only advantage of using Bitcoin in a gambling platform is not needing a bank account to play.  Aside from that, depositing Bitcoin to a Casino takes time so basically this is one of the cons of using Bitcoin so I prefer to use coins that has faster confirmation so that I can play as soon as I send the deposit transaction.

[Ryker1]

The only downside of gambling with bitcoin is also its greatest strength. Being anonymous and unregulated. You are free from the government if you play on the right casino but when you have a problem with the casino, things may turn upside down because there isn’t a higher authority protect your rights. Decentralization and being anonymous cuts both ways. It is great while it is working but when it don’t, you are effed.

Well right --as we can see, most gambling casinos now require KYC and it could be our privacy start fading away in terms of these gambling casinos using bitcoin, it is supposedly anonymous or pseudonymous but when most of them implement KYC everything on privacy has been gone. The purpose of bitcoin use in gambling casinos is privacy but now, it is for convenient use only.