BTC getting too expensive to gamble with - page 20.

mOgliE

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Quote from: Lucky7btc on May 03, 2017, 02:56:08 PM

What other cryptocurrency are you using and which casino are you playing at? BTC is getting to expensive to be depositing and playing in just BTC.

I don't really understand this logic...
That would be like saying "hey, dollars are too expensive compared to Zimbabwean dollars, I won't gamble with it"
You gamble with what you can afford to lose. And btc can be split neraly indefinitely. You don't want to gamble with more than 100$? then just play with mBTC and that's all...

Ziskinberg

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Quote from: sulendra12 on May 21, 2017, 05:26:40 AM

Quote from: sotoshihero on May 11, 2017, 07:22:10 AM

I agree, btc gambling is very expensive now. It has a very high price already and also it continues to rise. As of now btc price is nearing $2,000 dollar and $1,800 dollar on some exchanges. It is good for gambling site, but it is not good on players.

But STILL, there are gamblers doesn't care about the price and keep playing because if they won, their profit became higher than before with current Bitcoin's price. That's good for the owner if someone lose big money and with this price they made great profit.

The price is nothing for a real gambling, bitcoin is just a tool for him and pure gamble do cash in and cash out regularly so he will not hugely affected with the price volatility. What a gambler is focus on is the way to win in the long run, and it is already a big bonus for him when he wins and the timing of price increase also happens. Thus, I would say it is not expensive, we determine our betting capacity and we are responsible enough to make a decision to put what we can only afford to lose.

Cherylstar86

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Well for now while the price is very profitable, I guess it's not good to gamble an expensive currency because if you loss it you will find regrets behind the activites happened to be a failure. In order to gamble it in a right way, you should only bet smaller amounts and don't seek money lucky profit from it just to double your bitcoin balances. Nothing will happen to your savings amount on your wallet if you put an expensive currency into gambling profit investments, because in gambling it's normal to loss than to win.

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Quote from: sotoshihero on May 11, 2017, 07:22:10 AM

I agree, btc gambling is very expensive now. It has a very high price already and also it continues to rise. As of now btc price is nearing $2,000 dollar and $1,800 dollar on some exchanges. It is good for gambling site, but it is not good on players.

But STILL, there are gamblers doesn't care about the price and keep playing because if they won, their profit became higher than before with current Bitcoin's price. That's good for the owner if someone lose big money and with this price they made great profit.

jack1111

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People who use directbet for gambling may suffer from the high transactioon fee if they want to use bitcoin, but they can use equivalent amount of dogecoin to avoid the transaction fee, as well as betting with smaller sizes.

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Quote from: michkima on May 19, 2017, 01:14:22 AM

Quote from: South Park on May 16, 2017, 11:39:20 AM

Quote from: buwaytress on May 12, 2017, 01:35:23 AM

Quote from: eternalgloom on May 10, 2017, 07:46:24 AM

Quote from: buwaytress on May 10, 2017, 06:15:11 AM

Almost every site I know that specialises in crypto-gambling has very low minimum bets... I still refer to them as microbetting. Even if BTC were to hit $10,000... 100 satoshi would be 1 cent - still a hundred times bigger than the single satoshi bets most gambling sites allow.

So yes, caution is necessary if you bought the coin with fiat but otherwise, no difference in the amount of bitcoin you've always been able to bet with.

I don't know, I still see a lot of Bitcoin gambling websites that have pretty high minimum bets, usually ones that offer standard gambling software.
Minimum bets are usually higher than in traditional casino's with these high Bitcoin prices.

Ahh, yeah. A lot of the whitelabel casinos (the ones that use a ready-made package from one of the big providers) tend to have minimum bets that are approximated to their fiat values at the time. In fact I still see terms and conditions reflecting BTC prices from 2014.

What it happens is that instead of developing their own software they are just buying scripts that no one has bothered to update so the minimum bet can be quite high if we consider the amount of growth bitcoin had in the last nine months so it is no wonder casinos like that are not very successful.

Because it is quite easier to buy than develop a new game from scratch. It is cheaper, more secure, and a whole lot easier to set-up. Though usually these casinos tend to have fewer players as players want something new and refreshing. If everyone just offers the same old things, then people get tired of it really fast.

if you're earning bitcoins that you gamble online, like signatures, then there shouldn't be any much difference unless you really mind the amount you'll lose in fiat. if you deposit fiat and convert it to btc, then that's where the price of btc would really make a big difference at this time. you'd have to shell out a bigger amount if you're going to do when the price of btc is high

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Quote from: South Park on May 16, 2017, 11:39:20 AM

Quote from: buwaytress on May 12, 2017, 01:35:23 AM

Quote from: eternalgloom on May 10, 2017, 07:46:24 AM

Quote from: buwaytress on May 10, 2017, 06:15:11 AM

Almost every site I know that specialises in crypto-gambling has very low minimum bets... I still refer to them as microbetting. Even if BTC were to hit $10,000... 100 satoshi would be 1 cent - still a hundred times bigger than the single satoshi bets most gambling sites allow.

So yes, caution is necessary if you bought the coin with fiat but otherwise, no difference in the amount of bitcoin you've always been able to bet with.

I don't know, I still see a lot of Bitcoin gambling websites that have pretty high minimum bets, usually ones that offer standard gambling software.
Minimum bets are usually higher than in traditional casino's with these high Bitcoin prices.

Ahh, yeah. A lot of the whitelabel casinos (the ones that use a ready-made package from one of the big providers) tend to have minimum bets that are approximated to their fiat values at the time. In fact I still see terms and conditions reflecting BTC prices from 2014.

What it happens is that instead of developing their own software they are just buying scripts that no one has bothered to update so the minimum bet can be quite high if we consider the amount of growth bitcoin had in the last nine months so it is no wonder casinos like that are not very successful.

Because it is quite easier to buy than develop a new game from scratch. It is cheaper, more secure, and a whole lot easier to set-up. Though usually these casinos tend to have fewer players as players want something new and refreshing. If everyone just offers the same old things, then people get tired of it really fast.

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Quote from: buwaytress on May 12, 2017, 01:35:23 AM

Quote from: eternalgloom on May 10, 2017, 07:46:24 AM

Quote from: buwaytress on May 10, 2017, 06:15:11 AM

Almost every site I know that specialises in crypto-gambling has very low minimum bets... I still refer to them as microbetting. Even if BTC were to hit $10,000... 100 satoshi would be 1 cent - still a hundred times bigger than the single satoshi bets most gambling sites allow.

So yes, caution is necessary if you bought the coin with fiat but otherwise, no difference in the amount of bitcoin you've always been able to bet with.

I don't know, I still see a lot of Bitcoin gambling websites that have pretty high minimum bets, usually ones that offer standard gambling software.
Minimum bets are usually higher than in traditional casino's with these high Bitcoin prices.

Ahh, yeah. A lot of the whitelabel casinos (the ones that use a ready-made package from one of the big providers) tend to have minimum bets that are approximated to their fiat values at the time. In fact I still see terms and conditions reflecting BTC prices from 2014.

What it happens is that instead of developing their own software they are just buying scripts that no one has bothered to update so the minimum bet can be quite high if we consider the amount of growth bitcoin had in the last nine months so it is no wonder casinos like that are not very successful.

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Quote from: megynacuna on May 12, 2017, 04:58:17 AM

Quote from: Lucky7btc on May 03, 2017, 02:56:08 PM

What other cryptocurrency are you using and which casino are you playing at? BTC is getting to expensive to be depositing and playing in just BTC.

That's very true and it's the reason I'm now using litecoins, coinbase has also introduced litecoins wallets so it makes it even simpler for me unlike I used to buy through ShapeShift now I buy directly from coinbase and it gets deposited into my wallet and the fees per transaction is negligible and confirms very fast (under a minute in my case)

its good to use litecoins to playing gambling as we know that in gambling site there is an option to use another altcoin. but personally i like to use dogecoin rather than litecoins because dogecoin is cheap and is fast to make deposit and withdraw. to buy dogecoin is really easy, we can buy in many exchanges and i think its available on major and minor exchange so we don't have to confuse to buy dogecoin. beside that, to use dogecoin is another fun thing because we can buy like 0.001 btc with much of dogecoin and then we can use to playing gambling for several times.

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Quote from: Lucky7btc on May 03, 2017, 02:56:08 PM

What other cryptocurrency are you using and which casino are you playing at? BTC is getting to expensive to be depositing and playing in just BTC.

That's very true and it's the reason I'm now using litecoins, coinbase has also introduced litecoins wallets so it makes it even simpler for me unlike I used to buy through ShapeShift now I buy directly from coinbase and it gets deposited into my wallet and the fees per transaction is negligible and confirms very fast (under a minute in my case)

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Quote from: eternalgloom on May 10, 2017, 07:46:24 AM

Quote from: buwaytress on May 10, 2017, 06:15:11 AM

Almost every site I know that specialises in crypto-gambling has very low minimum bets... I still refer to them as microbetting. Even if BTC were to hit $10,000... 100 satoshi would be 1 cent - still a hundred times bigger than the single satoshi bets most gambling sites allow.

So yes, caution is necessary if you bought the coin with fiat but otherwise, no difference in the amount of bitcoin you've always been able to bet with.

I don't know, I still see a lot of Bitcoin gambling websites that have pretty high minimum bets, usually ones that offer standard gambling software.
Minimum bets are usually higher than in traditional casino's with these high Bitcoin prices.

Ahh, yeah. A lot of the whitelabel casinos (the ones that use a ready-made package from one of the big providers) tend to have minimum bets that are approximated to their fiat values at the time. In fact I still see terms and conditions reflecting BTC prices from 2014.

South Park

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Quote from: Lucky7btc on May 11, 2017, 05:57:57 AM

Well since the price of BTC has skyrocket. I've moved from casino gambling to BTC derivatives trading and doing pretty well over at bitmex. Made over 2 btc doing the run up from yesterday's price to 1871 today, trading with 10X leverage. Wink

Just be careful leverage can work with you or against you, while it can help you to create great profits with small movements on the market, it also causes you to lose money if you are not careful, and the bigger the leverage the more you are subject to this effect.

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Quote from: sotoshihero on May 11, 2017, 07:22:10 AM

I agree, btc gambling is very expensive now. It has a very high price already and also it continues to rise. As of now btc price is nearing $2,000 dollar and $1,800 dollar on some exchanges. It is good for gambling site, but it is not good on players.

Why it's not good for players Huh

Most of the gambling sites allows you to even bet 1 satoshi so you can adjust your bet size according to bitcoin price if you don't like to loss much. But if you loss something and start to make calculation after few months when price get increased, than definitely you will loss more in terms of fiat.

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Quote from: ethereumhunter on May 11, 2017, 09:28:00 AM

Quote from: sotoshihero on May 11, 2017, 07:22:10 AM

I agree, btc gambling is very expensive now. It has a very high price already and also it continues to rise. As of now btc price is nearing $2,000 dollar and $1,800 dollar on some exchanges. It is good for gambling site, but it is not good on players.

so i think if we want to playing gambling, we only need the money that we are ready to getting loss because if we don't prepare to get loss, no matter how long you played, we can loss big money and the bad situations can be happen without we realize. i think its wise to use only small amount of bitcoin to playing gambling and if we can gets win, we should make a range or limit in how much we can stop the games and don't be greedy.

just like on trading, having stop loss is always advisable to prevent more lose on a particular day on playing gambling.If you cant afford to lose up huge money or shall we say you are in doubts on spending your bitcoin because its already valuable or high price as of now then get only a percentage on that amount and lend it just to play gambling no other than that and dont really seek out for profits just only for pure entertainment.We can always equate our bitcoin to fiat so it wont matter if the price would go up.

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Quote from: sotoshihero on May 11, 2017, 07:22:10 AM

I agree, btc gambling is very expensive now. It has a very high price already and also it continues to rise. As of now btc price is nearing $2,000 dollar and $1,800 dollar on some exchanges. It is good for gambling site, but it is not good on players.

so i think if we want to playing gambling, we only need the money that we are ready to getting loss because if we don't prepare to get loss, no matter how long you played, we can loss big money and the bad situations can be happen without we realize. i think its wise to use only small amount of bitcoin to playing gambling and if we can gets win, we should make a range or limit in how much we can stop the games and don't be greedy.

sotoshihero

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I agree, btc gambling is very expensive now. It has a very high price already and also it continues to rise. As of now btc price is nearing $2,000 dollar and $1,800 dollar on some exchanges. It is good for gambling site, but it is not good on players.

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Just gamble with smaller units of bitcoin, surely that makes sense & you can continue to gamble using bitcoin. Or do you mean re: fees?

Lucky7btc

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Well since the price of BTC has skyrocket. I've moved from casino gambling to BTC derivatives trading and doing pretty well over at bitmex. Made over 2 btc doing the run up from yesterday's price to 1871 today, trading with 10X leverage. Wink

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Quote from: hatshepsut93 on May 10, 2017, 04:42:44 PM

Quote from: Lorilikes on May 09, 2017, 11:44:26 PM

Yes, it is expensive for me because of my little routine but as a few people mentioned, we can just scale it proportionately and perhaps we won't be staring at the zero, bewildered. Or at least not so quickly. I really need to accept it. Bitcoin is ever on the rise. Good luck with the adjustments everyone!

If you are a Bitcoin holder and also a gambler, you might want to consider managing your deposits by taking the future price of Bitcoin. For example, you can assume that Bitcoin will cost $3000 in a few years, so to deposit $100 you send 0.033 BTC instead of todays actual 0.058. If you lose all your deposit it will cost you less in the future, since you used exchange rates from the future. But your profits will also be reduced, so if you win, you might start regretting that you haven't deposited more.

THIS is the type of brilliance I need! What a great way of sort of hedging your game. People get paid for ideas like that. Thanks for the idea, and I wish I could give you a high five for the concept, because I do think it is a profitable possibility to consider, especially for someone who is patient and can pace themselves long enough to watch the benefits as they blossom. Cheers!

Topic: BTC getting too expensive to gamble with - page 20. (Read 9460 times)