BTC getting too expensive to gamble with - page 21.

Naokia980

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Quote from: Lucky7btc on May 03, 2017, 03:56:08 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.

Nowadays everybody exchange expensive cryptocurrency to fiat money. Cash is always good for punters cause you dont face with volatile prices and dont need to wait and hope for bump on exchange platform. My best experience is converting cash on e-wallets and keep it safe. It is double sword and you cant predict future. From my experience bitcoin is best option to play online gambling, because if we win than we get bitcoin and bitcoin is too expensive than fiat currency. Whatever you use for gambling, if you are winner you will not see big difference. Wink

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Quote from: Monnt on May 10, 2017, 04:32:42 PM

Quote from: bering on May 10, 2017, 05:23:04 AM

indeed currently we have to spend more money for our capital because not only bitcoin and majority altcoin price also has been rise up but yes if we gamble use bitcoin the cost will more high than use altcoin but if you won it the profit also pretty much high and the real gamblers would not thinking too much for bitcoin price because their aim is how to satisfied their hobbies to gambling for everyday

That is right, compared to beginning days of this year, all the cryptocurrencies are trading almost double the value hence it is not appropriate to call bitcoin alone as too expensive to gamble. If people start avoiding bitcoins from their gambling, they must leave entire crypto based gambling industry as all the cryptocurrencies are tooo expensive right now to risk.

I really cannot see the reason why we have to switch to altcoin to gamble .
As altcoin itself adjusting with bitcoin price , in the end all of them will have same value just before bitcoin skyrocketed.
You might will feel gamble too much with bitcoin , but seriously simply you can use fiat counting when you do gamble with bitcoin.

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Quote from: hatshepsut93 on May 10, 2017, 05:42:44 PM

Quote from: Lorilikes on May 10, 2017, 12:44:26 AM

This is an interesting question, and I am finding myself stunned, often, by the size that my deposits have shrunken too. I got very comfortable quickly converting the BTC to USD by seeing each .001 as roughly a dollar. Well, that is stuck in my head for some reason so when I deposit $50 worth of BTC I got used to seeing somewhere around .045 give or take a few. So now the deposits just look so tiny, and on top of this, I find myself betting as if it is still the lower value as well! So when I used to bet a very comfortable dollar worth of BTC it is suddenly closer to two dollars each time I roll the dice! Almost double to play and only half of the actual BTC to play on makes for a short ride! I need to adjust the conversions - TODAY- so I can pace myself, definitely. 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.

I think it is better if while you're using bitcoin in gambling sites and casinos, why not invest at it? Mostly, gamblers that use bitcoin is not that interested in investing their money to bitcoin because it is for their gambling activities, for them that is just a tool to gamble with. But I think if they are using bitcoin to gamble and investing at it at the same time, I think it may help them not only in gambling but also financially.

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Quote from: Lorilikes on May 10, 2017, 12:44:26 AM

This is an interesting question, and I am finding myself stunned, often, by the size that my deposits have shrunken too. I got very comfortable quickly converting the BTC to USD by seeing each .001 as roughly a dollar. Well, that is stuck in my head for some reason so when I deposit $50 worth of BTC I got used to seeing somewhere around .045 give or take a few. So now the deposits just look so tiny, and on top of this, I find myself betting as if it is still the lower value as well! So when I used to bet a very comfortable dollar worth of BTC it is suddenly closer to two dollars each time I roll the dice! Almost double to play and only half of the actual BTC to play on makes for a short ride! I need to adjust the conversions - TODAY- so I can pace myself, definitely. 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.

Monnt

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Quote from: bering on May 10, 2017, 05:23:04 AM

indeed currently we have to spend more money for our capital because not only bitcoin and majority altcoin price also has been rise up but yes if we gamble use bitcoin the cost will more high than use altcoin but if you won it the profit also pretty much high and the real gamblers would not thinking too much for bitcoin price because their aim is how to satisfied their hobbies to gambling for everyday

That is right, compared to beginning days of this year, all the cryptocurrencies are trading almost double the value hence it is not appropriate to call bitcoin alone as too expensive to gamble. If people start avoiding bitcoins from their gambling, they must leave entire crypto based gambling industry as all the cryptocurrencies are tooo expensive right now to risk.

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Quote from: South Park on May 10, 2017, 03:26:41 PM

Quote from: BitFinnese on May 09, 2017, 03:29:13 PM

Quote from: raven7886 on May 06, 2017, 04:50:42 PM

Quote from: TechnoMusic on May 06, 2017, 04:30:55 PM

Yea true for some sites but there are sites which offer you to place a lower bets and also you can convert your money to other crypto which worth less what gives you chanca to make lower bets.

It must not be lower bet when you will be considering fiat value. Honestly I am afraid these higher prices of bitcoin might lead to more losses even for the same amount of bitcoins as some times I do forget to set lower bets based on current bitcoin prices. The buying capacity of bitcoin just got bigger hence we need to adjust our base bet accordingly to ensure we are not risking beyond our affordable limits.

Well it is expected, with higher price of bitcoin, the loses even with the same amount of BTC would be higher in terms of USD. Though I do believe it is still cheap to gamble with bitcoin, for the fact that we can play even at 100 satoshi and this 100 satoshi does not cost us too much unlike if we use fiat currency in gambling.

But in bitcoin gambling sites you are not limited to fixed bets you can bet almost any amount of coins, you can even bet cents in terms of dollar so I don’t think that is a problem, people will just bet less bitcoin instead of keeping the same bets, but something that could happen is that some decide to not gamble their bitcoin anymore because they think the value of bitcoin can go up and earn money that way.

Exactly!!
What I'v been saying the whole time
This makes no sense

If you're depositing FIAT
And gambling with bitcoins
You can only profit from btc growth

What am I missing Huh

South Park

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Quote from: BitFinnese on May 09, 2017, 03:29:13 PM

Quote from: raven7886 on May 06, 2017, 04:50:42 PM

Quote from: TechnoMusic on May 06, 2017, 04:30:55 PM

Yea true for some sites but there are sites which offer you to place a lower bets and also you can convert your money to other crypto which worth less what gives you chanca to make lower bets.

It must not be lower bet when you will be considering fiat value. Honestly I am afraid these higher prices of bitcoin might lead to more losses even for the same amount of bitcoins as some times I do forget to set lower bets based on current bitcoin prices. The buying capacity of bitcoin just got bigger hence we need to adjust our base bet accordingly to ensure we are not risking beyond our affordable limits.

Well it is expected, with higher price of bitcoin, the loses even with the same amount of BTC would be higher in terms of USD. Though I do believe it is still cheap to gamble with bitcoin, for the fact that we can play even at 100 satoshi and this 100 satoshi does not cost us too much unlike if we use fiat currency in gambling.

But in bitcoin gambling sites you are not limited to fixed bets you can bet almost any amount of coins, you can even bet cents in terms of dollar so I don’t think that is a problem, people will just bet less bitcoin instead of keeping the same bets, but something that could happen is that some decide to not gamble their bitcoin anymore because they think the value of bitcoin can go up and earn money that way.

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Quote from: eternalgloom on May 10, 2017, 08:46:24 AM

Quote from: buwaytress on May 10, 2017, 07:15:11 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.

I guess the crypto world has the lowest minimum bets compared to betting with fiat, I never experience this kind of fun as I myself is a micro gambler also. Regardless of the price increase just what is happening now, I can still see not adjusting the minimum bet is still justifiable, some sites has their minimum bets but there are plenty of sites to choose from, every players has their own favorites and for me it's FortuneJack.

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Quote from: buwaytress on May 10, 2017, 07:15:11 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.

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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.

milewilda

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Quote from: Slark on May 10, 2017, 05:37:57 AM

Quote from: Lorilikes on May 10, 2017, 12:44:26 AM

This is an interesting question, and I am finding myself stunned, often, by the size that my deposits have shrunken too. I got very comfortable quickly converting the BTC to USD by seeing each .001 as roughly a dollar. Well, that is stuck in my head for some reason so when I deposit $50 worth of BTC I got used to seeing somewhere around .045 give or take a few. So now the deposits just look so tiny, and on top of this, I find myself betting as if it is still the lower value as well! So when I used to bet a very comfortable dollar worth of BTC it is suddenly closer to two dollars each time I roll the dice! Almost double to play and only half of the actual BTC to play on makes for a short ride! I need to adjust the conversions - TODAY- so I can pace myself, definitely. 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!

Better get used to it lowering your BTC deposit to match fiat value you are used to gamble with.
It doesn't look like Bitcoin prices will be ever significantly lower. It is actually amazing that play with less and less BTC.
In couple years - and definitely after next halving in 2020, we will see 4 digit BTC price for sure.

BTW with nifty tool like http://preev.com/btc/usd conversion of ever changing BTC price on the fly is pretty simple.

Ive been using preev.com from the start on checking always the current price of bitcoin time to time and yes its really a helpful tool for you when you are always relying on making some bets equivalent on fiat currency.We dont really doubt at all if we use bitcoin in playing gambling because anytime we can really adjust it even its price is already on the top.

Lucky7btc

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Quote from: Lorilikes on May 10, 2017, 12:44:26 AM

This is an interesting question, and I am finding myself stunned, often, by the size that my deposits have shrunken too. I got very comfortable quickly converting the BTC to USD by seeing each .001 as roughly a dollar. Well, that is stuck in my head for some reason so when I deposit $50 worth of BTC I got used to seeing somewhere around .045 give or take a few. So now the deposits just look so tiny, and on top of this, I find myself betting as if it is still the lower value as well! So when I used to bet a very comfortable dollar worth of BTC it is suddenly closer to two dollars each time I roll the dice! Almost double to play and only half of the actual BTC to play on makes for a short ride! I need to adjust the conversions - TODAY- so I can pace myself, definitely. 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!

THIS IS WHAT I AM TALKING ABOUT!!!

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Quote from: Lorilikes on May 10, 2017, 12:44:26 AM

This is an interesting question, and I am finding myself stunned, often, by the size that my deposits have shrunken too. I got very comfortable quickly converting the BTC to USD by seeing each .001 as roughly a dollar. Well, that is stuck in my head for some reason so when I deposit $50 worth of BTC I got used to seeing somewhere around .045 give or take a few. So now the deposits just look so tiny, and on top of this, I find myself betting as if it is still the lower value as well! So when I used to bet a very comfortable dollar worth of BTC it is suddenly closer to two dollars each time I roll the dice! Almost double to play and only half of the actual BTC to play on makes for a short ride! I need to adjust the conversions - TODAY- so I can pace myself, definitely. 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!

Better get used to it lowering your BTC deposit to match fiat value you are used to gamble with.
It doesn't look like Bitcoin prices will be ever significantly lower. It is actually amazing that play with less and less BTC.
In couple years - and definitely after next halving in 2020, we will see 4 digit BTC price for sure.

BTW with nifty tool like http://preev.com/btc/usd conversion of ever changing BTC price on the fly is pretty simple.

bering

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indeed currently we have to spend more money for our capital because not only bitcoin and majority altcoin price also has been rise up but yes if we gamble use bitcoin the cost will more high than use altcoin but if you won it the profit also pretty much high and the real gamblers would not thinking too much for bitcoin price because their aim is how to satisfied their hobbies to gambling for everyday

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Quote from: izanagi narukami on May 10, 2017, 02:47:36 AM

For now, it's way too expensive so it's very risky to gamble at the moment but if you dare to against the risk, you will obtain unexpected result
It's very lucky for who has known bitcoin a bit slower since bitcoin reach highest value at the moment

yes its too expensive but i don't think that gamblers will stop from playing gambling because they know that they can win big money for this time and they don't have to use much of bitcoin to playing gambling. but the most importance for using bitcoin to playing gambling is we need to playing carefully and don't spend too much bitcoin to just expecting winning big money.

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For now, it's way too expensive so it's very risky to gamble at the moment but if you dare to against the risk, you will obtain unexpected result
It's very lucky for who has known bitcoin a bit slower since bitcoin reach highest value at the moment

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Quote from: Mbokani on May 10, 2017, 01:42:20 AM

With the price of bitcoin rising it is really hard for everyone to start wagging a bet with bitcoin as it is becoming more expensive to wage a bet and the transaction time and fees are higher than we used to have in the past,so i did personally shifted my focus on ETH and Litecoin as i think the latter have the chances of a rally in the near future after the activation of segwit.

Are you buying bitcoins every time for your gambling purposes ? Because I'm not buying and hence I'm not finding any difficulties to go for gambling with me previously allocated funds for the purpose of gambling. The confirmation problem is getting solved for me when I will be using Xapo kind of wallets.

I have also thought about considering altcoins for my gambling purposes, but when comparing the profit risk ratio, I still believe going gambling with bitcoin alone making me more enthusiastic.

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Quote from: Lucky7btc on May 03, 2017, 03:56:08 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.

From a long time I prefer to play my dice games with DOGE. But in past 10 days I lowered my "base" bet amount with almost 60%. DOGE or not, it's getting too expense.
Bitcoin is really going to the moon and I don't have the patience to wait 12-24 my transactions to confirm. I also don't want to pay a "coffee" per transaction fee.

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With the price of bitcoin rising it is really hard for everyone to start wagging a bet with bitcoin as it is becoming more expensive to wage a bet and the transaction time and fees are higher than we used to have in the past,so i did personally shifted my focus on ETH and Litecoin as i think the latter have the chances of a rally in the near future after the activation of segwit.

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Quote from: emberbekas on May 09, 2017, 10:43:41 PM

Quote from: KennyR on May 09, 2017, 10:09:16 PM

Quote from: BitFinnese on May 09, 2017, 03:29:13 PM

Quote from: raven7886 on May 06, 2017, 04:50:42 PM

Quote from: TechnoMusic on May 06, 2017, 04:30:55 PM

Yea true for some sites but there are sites which offer you to place a lower bets and also you can convert your money to other crypto which worth less what gives you chanca to make lower bets.

It must not be lower bet when you will be considering fiat value. Honestly I am afraid these higher prices of bitcoin might lead to more losses even for the same amount of bitcoins as some times I do forget to set lower bets based on current bitcoin prices. The buying capacity of bitcoin just got bigger hence we need to adjust our base bet accordingly to ensure we are not risking beyond our affordable limits.

Well it is expected, with higher price of bitcoin, the loses even with the same amount of BTC would be higher in terms of USD. Though I do believe it is still cheap to gamble with bitcoin, for the fact that we can play even at 100 satoshi and this 100 satoshi does not cost us too much unlike if we use fiat currency in gambling.

The defragmenting possibility with bitcoin has given us the access to gamble even with very small number of Satoshi. This is good, but the same time the fear of losing has increased much, that even a small loss will be a big one when calculated in terms of USD or the local fiat. People will soon get adjusted or fixed to it when the price Keep on increasing.

Yes, bitcoin price goes to the moon right now and fortunately, with bitcoin we can play with as small amount as possible especially at dice gambling sites. We can adjust our bet amount to reflect the price increases.

Yeah, bitcoin price really going to high, I can guess bitcoin will be come at $2000 very quickly, may be within 2 months we will see bitcoin equal to $2000. But surprisingly this is all happen. But now bitcoin is best cyrpto to play online gambling, because if we win than we get bitcoin and bitcoin is too expensive than fiat currency.

Topic: BTC getting too expensive to gamble with - page 21. (Read 9436 times)