I just realized that Bitcoin isn’t the best choice for gambling…

[Japinat]

Some gamblers have the same perception regarding all of this, they will prioritize cheap and faster transaction costs, but still have to pay attention to what type of coin you are using because if the coin has price that can possibly experience very significant decrease then you will also definitely get loss with the decrease in the value of the currency in your gambling site account bankroll.
Comfortable and friendly option in my opinion is still USDT as the main alternative and there is no need to worry about price drops or transaction costs because USDT has fairly low cost with fast network too.

There’s no need to worry about the price going down when you are using bitcoin, because in the bigger picture, Bitcoin tends to rise more than it falls. The only valid concern would be volatility if you decide not to use Bitcoin for gambling. Other than that, I don’t see any real issue.

As for transaction fees, they’re quite reasonable now, around $1 to $2 per transaction. I think that’s fine, but of course, you shouldn’t be gambling with pennies or making transactions too frequently.

[nullama]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

It doesn't really matter what form of payment you use when buying something.

What really matters is in what form of money you save.

So, if you save in fiat, that will be devalued over time, but if you save in Bitcoin it will be worth more in the future.

It doesn't matter if you pay in fiat, stablecoin, or Bitcoin, as the price at the time of the transaction will be the same for every form of currency you have.

[Kelward]

I don't care what coin I bet on, because when I gamble I don't care about the price going up or down, I'm more careful about the transaction costs when using crypto currency, I prefer low costs

Some gamblers have the same perception regarding all of this, they will prioritize cheap and faster transaction costs, but still have to pay attention to what type of coin you are using because if the coin has price that can possibly experience very significant decrease then you will also definitely get loss with the decrease in the value of the currency in your gambling site account bankroll.
Comfortable and friendly option in my opinion is still USDT as the main alternative and there is no need to worry about price drops or transaction costs because USDT has fairly low cost with fast network too.

Stablecoins is a preferable option when it comes to online crypto gambling, you don't have to worry about price drop or transaction fees because it is stable. Cryptos are volatile, you'd have to first consider if it's convenient for you to use a cryptocurrency for gambling but a stablecoin like usdt will eliminate such worries for you. Most Bitcoin hodlers will not prefer to use it for gambling during bull run, they'll want to hold and gather as much ROI as they can, also when mempool is congested is not a good time to use Bitcoin but stablecoins can be used at any season.

[avp2306]

I don't care what coin I bet on, because when I gamble I don't care about the price going up or down, I'm more careful about the transaction costs when using crypto currency, I prefer low costs

Some gamblers have the same perception regarding all of this, they will prioritize cheap and faster transaction costs, but still have to pay attention to what type of coin you are using because if the coin has price that can possibly experience very significant decrease then you will also definitely get loss with the decrease in the value of the currency in your gambling site account bankroll.
Comfortable and friendly option in my opinion is still USDT as the main alternative and there is no need to worry about price drops or transaction costs because USDT has fairly low cost with fast network too.

Stablecoins is a preferable option when it comes to online crypto gambling, you don't have to worry about price drop or transaction fees because it is stable. Cryptos are volatile, you'd have to first consider if it's convenient for you to use a cryptocurrency for gambling but a stablecoin like usdt will eliminate such worries for you. Most Bitcoin hodlers will not prefer to use it for gambling during bull run, they'll want to hold and gather as much ROI as they can, also when mempool is congested is not a good time to use Bitcoin but stablecoins can be used at any season.

Most of the time this should be the option to used by gamblers but not everyone like to use it that's why they choose other coin like ETH or SOL which is common coin we could see on most of gambling site right now.

Bitcoin holder really doesn't like to use their Bitcoin for gambling because majority would prefer to let their asset be stored on their secured wallet. Then frequently accumulating it for future used which is away from gambling. But we cannot erase some certain facts that there are some people use Bitcoin to gamble since I think I read somewhere that aside from gaining a lot of volume they also want to take risk if they could able to earn more profit if Bitcoin value pumps.

[mirakal]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

It doesn't really matter what form of payment you use when buying something.

What really matters is in what form of money you save.

So, if you save in fiat, that will be devalued over time, but if you save in Bitcoin it will be worth more in the future.

It doesn't matter if you pay in fiat, stablecoin, or Bitcoin, as the price at the time of the transaction will be the same for every form of currency you have.

As we can see, bitcoin’s fees are significantly higher compared to other currencies, which is why the OP pointed out that it feels like a wrong move. If you think about it, saving even a small difference in sats by using other currencies can add up over time, especially during a bull market. It makes a big difference, especially if you value your money. But if you are a wealthy person, then sure, it doesn’t matter.

The main reason most gamblers prefer using stablecoins is #1: transaction fees. They choose what saves them the most money instead of spending unnecessarily.

[nullama]

~snip~
As we can see, bitcoin’s fees are significantly higher compared to other currencies, which is why the OP pointed out that it feels like a wrong move. If you think about it, saving even a small difference in sats by using other currencies can add up over time, especially during a bull market. It makes a big difference, especially if you value your money. But if you are a wealthy person, then sure, it doesn’t matter.

The main reason most gamblers prefer using stablecoins is #1: transaction fees. They choose what saves them the most money instead of spending unnecessarily.

Some altcoins, like ethereum for example, have extremely large fees, but people still use them.

The thing is that we are now in a transition stage, whereas you still can transfer Bitcoin directly on-chain and in a second layer, with lightning.

It will take some time, but eventually on-change movements will be done only for large amounts of money, and lightning or similar will be used for daily transactions.

It's like the money in your wallet when you go out, you don't carry all your life savings all the time, you just have a small amount ready to transact.

[MArsland]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

During my gambling I never used Bitcoin, besides being too special to bet on bitcoin is also very risky to keep in the casino. Because this is gambling that you have to be ready to lose no matter how much, I always use TRX, Solana, Doge, BNB and some meme coins that the casino provides for deposits. Even if I lose, I don't feel guilty because it's not bitcoin that's at stake, but if I win I can sell it to convert it to bitcoin. And this cycle has always been an ideal option for me personally.

[Awaklara]

During my gambling I never used Bitcoin, besides being too special to bet on bitcoin is also very risky to keep in the casino. Because this is gambling that you have to be ready to lose no matter how much, I always use TRX, Solana, Doge, BNB and some meme coins that the casino provides for deposits. Even if I lose, I don't feel guilty because it's not bitcoin that's at stake, but if I win I can sell it to convert it to bitcoin. And this cycle has always been an ideal option for me personally.

you manage your assets well. so you know and distinguish the assets you want to hold and the assets you want to use for whatever purpose.
previously I also did it, only using stable coins and BNB for gambling and storing Bitcoin and profits from gambling and trading in Bitcoin.
but lately, I have been betting more often with Bitcoin, I get an allocation of payments from the campaign signature in the form of Bitcoin that I allocate for gambling. I have used stable coin savings to enter several altcoins.

[EarnOnVictor]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

It doesn't really matter what form of payment you use when buying something.

What really matters is in what form of money you save.

So, if you save in fiat, that will be devalued over time, but if you save in Bitcoin it will be worth more in the future.

It doesn't matter if you pay in fiat, stablecoin, or Bitcoin, as the price at the time of the transaction will be the same for every form of currency you have.

As we can see, bitcoin’s fees are significantly higher compared to other currencies, which is why the OP pointed out that it feels like a wrong move. If you think about it, saving even a small difference in sats by using other currencies can add up over time, especially during a bull market. It makes a big difference, especially if you value your money. But if you are a wealthy person, then sure, it doesn’t matter.

We should not get this twisted, if you want to invest then invest, and if you want to gamble, then gamble.

People will not raise this grievance if they are doing it with fiat currencies, I wonder why raising it when they are doing it with Bitcoin. By the time you made the transaction, your Bitcoin has a value in fiat, that is what you should stick to and let it be buried that way. This is because you've already made the transaction and it is gone. Going back to trace them on how many transactions in Bitcoin you've parted ways with simply because Bitcoin has now appreciated is like living in your past. If gambling doesn't favour you, invest in Bitcoin, after all, you will not complain about the fee by then.

[Yucky]

Some people, like the author, feel bad about using Bitcoin for gambling, especially during a bull run like we are experiencing now. But it's not that  terrible to gamble with Bitcoin if you already hold the asset. When you win, your rewards are typically converted to a dollar equivalent. If you believe Bitcoin has potential for future growth, you can simply stop using it for gambling and switch to stable coins.

Personally, I'm skeptical about using Bitcoin for gambling. This is because Bitcoin has consistently shown more potential than other stable coins or casino tokens. Sometimes, I try out a casino's token to see the benefits it offers to gamblers. If I don't want to deal with the hassle of using stable coins or tokens, I simply use cash to gamble.

If you've used Bitcoin for gambling in the past and reduced your holdings, don't regret it. Instead, focus on the present and make informed decisions about whether to continue gambling with Bitcoin or not. The past is behind you, so look forward.

[Natalim]

During my gambling I never used Bitcoin, besides being too special to bet on bitcoin is also very risky to keep in the casino. Because this is gambling that you have to be ready to lose no matter how much, I always use TRX, Solana, Doge, BNB and some meme coins that the casino provides for deposits. Even if I lose, I don't feel guilty because it's not bitcoin that's at stake, but if I win I can sell it to convert it to bitcoin. And this cycle has always been an ideal option for me personally.

For gamblers who started early, Bitcoin was their only option for gambling. Back then, it was even called "Bitcoin gambling" because casinos accepted Bitcoin exclusively for that purpose. But as the market grew, altcoins were created, offering faster and cheaper transaction fees, and the industry evolved into what we now call crypto gambling.

For those who lost money early on, if they had just held onto their Bitcoin instead of gambling it all away, they could’ve made a fortune by now.

[LDL]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

Gamblers will bet on the currency of their choice. However, those who participate in gambling are essentially placing bets by accepting the risk. Professional gamblers don't care if Bitcoin is 100k or not. It doesn't matter to them if they lose the bet by Bitcoin Hughes because they are essentially betting on risk. But in a pumping market it is definitely wiser to hold or bet with stable coins than to bet with bitcoins.

[Etranger]

but lately, I have been betting more often with Bitcoin, I get an allocation of payments from the campaign signature in the form of Bitcoin that I allocate for gambling. I have used stable coin savings to enter several altcoins.

It's interesting that you risk Bitcoin in gambling, not your savings in stablecoins. I think stable coins are not so bad to lose, but Bitcoin has much more potential, and it would be a pity not to realize it. Unfortunately, I have to spend my payments from signature campaign, which come in satoshi, but if I had the opportunity to collect and save them, I would not use them for gambling, since I would be more afraid of losing them than I would dream of winning.

[Fivestar4everMVP]

but lately, I have been betting more often with Bitcoin, I get an allocation of payments from the campaign signature in the form of Bitcoin that I allocate for gambling. I have used stable coin savings to enter several altcoins.

It's interesting that you risk Bitcoin in gambling, not your savings in stablecoins. I think stable coins are not so bad to lose, but Bitcoin has much more potential, and it would be a pity not to realize it. Unfortunately, I have to spend my payments from signature campaign, which come in satoshi, but if I had the opportunity to collect and save them, I would not use them for gambling, since I would be more afraid of losing them than I would dream of winning.

You are right, and I do agree with you, it is always better to hold bitcoin and gamble with either Altcoin or stable coin, but the best (for me) for gambling is stable coin, like I have explained before in an earlier comment on this thread, stable coins are more stable in their price, so let assume one gambles with $100 in stable coin and loose it, the chances are very high that even in the next 10 years coming, that $100 loss will still be valued at $100.

But let's assume you Gamble with $100 worth of bitcoin today, and lost it, then like we have seen, the chances are very high that in the coming 5 years, that $100 worth of bitcoin that was lost will be now valued at $1000 dollars, because the price of 1 bitcoin has risen so much.

So, for me, stable coins remains my only currency for gambling on cryptocurrency casinos, and when it come to local casinos where I get another option for payment, I will gamble using my local currency.

[bettercrypto]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

Stablecoins are really the right way to use cryptocurrencies for betting when we are going to play casino gambling. It is difficult to use other cryptocurrencies for betting especially
if we know that it has the potential to rise in the future, especially now that we are in the bull season.

Unless we control our luck when playing gambling, we can use bitcoin, Eth, bnb and others because for sure we can accumulate these potential alts,
but in reality there is nothing like this.

[Etranger]

You are right, and I do agree with you, it is always better to hold bitcoin and gamble with either Altcoin or stable coin, but the best (for me) for gambling is stable coin, like I have explained before in an earlier comment on this thread, stable coins are more stable in their price, so let assume one gambles with $100 in stable coin and loose it, the chances are very high that even in the next 10 years coming, that $100 loss will still be valued at $100.

But let's assume you Gamble with $100 worth of bitcoin today, and lost it, then like we have seen, the chances are very high that in the coming 5 years, that $100 worth of bitcoin that was lost will be now valued at $1000 dollars, because the price of 1 bitcoin has risen so much.

So, for me, stable coins remains my only currency for gambling on cryptocurrency casinos, and when it come to local casinos where I get another option for payment, I will gamble using my local currency.

In fact, if you lose $100 today, in ten years those $100 won't even be equal to themselves, and in fact that future loss will be even smaller, since the purchasing power of $100 in ten years will be significantly lower than it is today. So losing $100 today is not the same as losing it in ten years. It's better to lose $100 in ten years than to lose it today) But it will be even better not to lose those $ 100 equivalent in BTC. Because in 10 years this BTC amount will cost definitely more than $ 100.

[rodskee]

There’s no need to worry about the price going down when you are using bitcoin, because in the bigger picture, Bitcoin tends to rise more than it falls. The only valid concern would be volatility if you decide not to use Bitcoin for gambling. Other than that, I don’t see any real issue.

it’s still volatile and if you are not a big gambler you will regret those few thousand of dollars that you have lost because you didn’t sell your bitcoin at the right time and etc

but i really don’t see any problem here because most online casinos you have to deposit and they have their in game currency where 1 usd for example is 1token for gambling so just sell your bitcoins at the best possible price then deposit

As for transaction fees, they’re quite reasonable now, around $1 to $2 per transaction. I think that’s fine, but of course, you shouldn’t be gambling with pennies or making transactions too frequently.

yup make up your mind set a budget and make a transaction all at once rather than making small transactions every day

[Fivestar4everMVP]

You are right, and I do agree with you, it is always better to hold bitcoin and gamble with either Altcoin or stable coin, but the best (for me) for gambling is stable coin, like I have explained before in an earlier comment on this thread, stable coins are more stable in their price, so let assume one gambles with $100 in stable coin and loose it, the chances are very high that even in the next 10 years coming, that $100 loss will still be valued at $100.

But let's assume you Gamble with $100 worth of bitcoin today, and lost it, then like we have seen, the chances are very high that in the coming 5 years, that $100 worth of bitcoin that was lost will be now valued at $1000 dollars, because the price of 1 bitcoin has risen so much.

So, for me, stable coins remains my only currency for gambling on cryptocurrency casinos, and when it come to local casinos where I get another option for payment, I will gamble using my local currency.

In fact, if you lose $100 today, in ten years those $100 won't even be equal to themselves, and in fact that future loss will be even smaller, since the purchasing power of $100 in ten years will be significantly lower than it is today. So losing $100 today is not the same as losing it in ten years. It's better to lose $100 in ten years than to lose it today) But it will be even better not to lose those $ 100 equivalent in BTC. Because in 10 years this BTC amount will cost definitely more than $ 100.

You are right with that statement that "it is better to loose $100 in the future than loose it now", definitely true since inflation must have must dealt with the currency by then, causing it to lose purchasing power as you said, but something I think you failed to realize is that, we don't live in the future, no body is living in the future or has that ability, we live in the present which is today and now, as time progresses, humans progress with it, this is why it's impossible to tell what will happen tomorrow or even in the next minute or hour.

We live for now and the currency we choose to use for gambling is valued based on its value now, we can still make decisions based on our future prediction for the currency, but it's impossible to use tomorrow's value of a currency to play gambling today, but if you think it's possible, then please teach me how ☺️☺️

[Z_MBFM]

If you’re gambling regularly while also investing, it’s probably smarter to use stablecoins for gambling. That way, when the bull run hits, you won’t be regretting all the Bitcoin you lost. I’ve personally lost a decent amount of Bitcoin, so yeah, it hurts a bit. Even if you set aside Bitcoin specifically for investment and gambling, it’s still Bitcoin, and its value could hit $100k soon.

Can you guys relate?

It doesn't matter which currency you are betting through. You always bet as a dollar amount. So it doesn't matter whether you are using Bitcoin or any stablecoin for that. But the reason I don't use Bitcoin for gambling is that Bitcoin takes a long time to block confirm and its transaction fees are very high, which is why I prefer chains that confirm transactions quickly and have very low transaction fees for gambling. TRX & BNB are the ones I use the most. I also have less experience using stablecoins

[Marvell1]

You are right, and I do agree with you, it is always better to hold bitcoin and gamble with either Altcoin or stable coin, but the best (for me) for gambling is stable coin, like I have explained before in an earlier comment on this thread, stable coins are more stable in their price, so let assume one gambles with $100 in stable coin and loose it, the chances are very high that even in the next 10 years coming, that $100 loss will still be valued at $100.

But let's assume you Gamble with $100 worth of bitcoin today, and lost it, then like we have seen, the chances are very high that in the coming 5 years, that $100 worth of bitcoin that was lost will be now valued at $1000 dollars, because the price of 1 bitcoin has risen so much.

So, for me, stable coins remains my only currency for gambling on cryptocurrency casinos, and when it come to local casinos where I get another option for payment, I will gamble using my local currency.

In fact, if you lose $100 today, in ten years those $100 won't even be equal to themselves, and in fact that future loss will be even smaller, since the purchasing power of $100 in ten years will be significantly lower than it is today. So losing $100 today is not the same as losing it in ten years. It's better to lose $100 in ten years than to lose it today) But it will be even better not to lose those $ 100 equivalent in BTC. Because in 10 years this BTC amount will cost definitely more than $ 100.

What you both say is only true if you use BTC in your long term portfolio and it is bitcoin that you do not want to use in the near future. Otherwise there is no difference between using bitcoin or USDT for gambling if that is the money you intend to use for gambling purposes. Because in this case they only act as a payment method.

You use 100USDT to exchange for BTC and gamble, and you use 100$ BTC to exchange for 100USDT to gamble, what is the difference here?
If you feel it is a waste to use bitcoin for gambling, I suggest you can convert that BTC to USDT before gambling but for me, that doesn't make a difference either.