Topic: Do you use bitcoin when gambling? - page 2. (Read 720 times)
I don't use bitcoins for gambling because if I lose gambling and if I lose bitcoins because of losing I think more money will be deducted from my account than the amount I will lose gambling. I like to invest in Bitcoin but I don't like to sell or use my investment for any other purpose. Let's say I gambled and lost $100. At the time I gambled and lost $100, Bitcoin was worth $30,000. But after a few days, when the price of Bitcoin will go to 35 thousand dollars, if I calculate 100 dollars, then it will be seen that my loss is more than 100 rupees. This is how I think about Bitcoin, which is why I never gamble with Bitcoin, rather I prefer to gamble with virtual dollars. Since we have alternatives, we should always use alternatives.
Now that the bull market is about to kick in, I would not even really prefer to gamble with Bitcoin; I still intend to add more BTC to my holdings for the sake of more profit during the bull run.
That's a good choice, adding more bitcoins to you instead of having to use your bitcoins to gamble just want to double your bitcoins, but the risk can be fatal losing a lot of bitcoins, I think using stable coin money is easier or using fiat money via credit card, honestly Of course what you say is true that the crypto market is heading bullish so it cannot be denied that currently people are saving more of their bitcoins rather than using them for gambling.I think maybe not everyone keeps their bitcoins, there are still some gamblers who might still use their bitcoins to gamble and multiply their bitcoins in gambling, usually rich people often do that even though the bull market is running, they only focus on gambling and can have lots of bitcoins from the gambling they play.
There are, however, some problems with using Bitcoin for gambling because of its high fees. Why? With each exchange, your possible winnings are reduced, which makes it less appealing for quick, small bets. Imagine actually winning, but those annoying fees take away some of your prize. Therefore, what is the other option? For example, stablecoins or using regular money like credit cards, as you said. Less complicated, lower fees.
How about looking at crypto gambling not only as a financial choice, but also as a mental one? Its about the thrill, the danger, and the possible payoff. Unfortunately, Bitcoin's fees make the risk greater than the gain. There may be better, less expensive solutions out there now. You can bet, but lets not risk our money, okay?
whereas using usdt on the tron network is much cheaper and faster, so in a few deposits i can save time and a few dollars.
This is bullshit, from the last year until now, USDT in TRC20 charge for $2. If you're using Tron, the transaction fee could be free as long as you have enough bandwidth.Previously when we used to withdraw USDT to the gambling site via the Trc20 network, it cost less than 0.25$ fee but now for some time, it detects around 2 dollar fee in the form of trx. So using USDT to deposit often in gambling sites is not feasible at all.
I think maybe not everyone keeps their bitcoins, there are still some gamblers who might still use their bitcoins to gamble and multiply their bitcoins in gambling, usually rich people often do that even though the bull market is running, they only focus on gambling and can have lots of bitcoins from the gambling they play.
Don't forget many rich gamblers also lose, maybe more of them are in lose. But since they have a business or high paying job, they can easily recover their losses in gambling.Well, it's a personal choice if anyone has a lot of bitcoins and wants to bet with them to increase the quantity of bitcoins, While this may be fruitful but the risk of losing those bitcoins is also there.
I would not gamble my bitcoins to get more bitcoins. This is not a wise approach. Perhaps I can gamble with limited money only for entertainment purposes but I won't put my bitcoin savings in gambling.
whereas using usdt on the tron network is much cheaper and faster, so in a few deposits i can save time and a few dollars.
This is bullshit, from the last year until now, USDT in TRC20 charge for $2. If you're using Tron, the transaction fee could be free as long as you have enough bandwidth.I think maybe not everyone keeps their bitcoins, there are still some gamblers who might still use their bitcoins to gamble and multiply their bitcoins in gambling, usually rich people often do that even though the bull market is running, they only focus on gambling and can have lots of bitcoins from the gambling they play.
Don't forget many rich gamblers also lose, maybe more of them are in lose. But since they have a business or high paying job, they can easily recover their losses in gambling. 
Now that the bull market is about to kick in, I would not even really prefer to gamble with Bitcoin; I still intend to add more BTC to my holdings for the sake of more profit during the bull run.
That's a good choice, adding more bitcoins to you instead of having to use your bitcoins to gamble just want to double your bitcoins, but the risk can be fatal losing a lot of bitcoins, I think using stable coin money is easier or using fiat money via credit card, honestly Of course what you say is true that the crypto market is heading bullish so it cannot be denied that currently people are saving more of their bitcoins rather than using them for gambling.I think maybe not everyone keeps their bitcoins, there are still some gamblers who might still use their bitcoins to gamble and multiply their bitcoins in gambling, usually rich people often do that even though the bull market is running, they only focus on gambling and can have lots of bitcoins from the gambling they play.
i prefer to use other crypto compared to using bitcoin. the reason is quite simple, i am not willing to use bitcoin just for gambling, because looking at its potential in the next few years and it is much better to hold bitcoin in my wallet than to use it for regular gambling.
and another consideration is that transaction fees for bitcoin in one deposit are around 2 dollars or more and the waiting time is longer. whereas using usdt on the tron network is much cheaper and faster, so in a few deposits i can save time and a few dollars.
and another consideration is that transaction fees for bitcoin in one deposit are around 2 dollars or more and the waiting time is longer. whereas using usdt on the tron network is much cheaper and faster, so in a few deposits i can save time and a few dollars.
I am honestly impressed to see that cryptocurrency (not just Altcoins) is winning the poll. In fact adding Bitcoin and Altcoin together at the time of writing this reply is winning with over 43 votes (83% of the votes). It really shows how much we have adopted to using cryptocurrencies. I’ve never used Bitcoin to gamble before, but there was a time I used an Altcoin (wasn’t a stable coin though).
We are here in a Bitcoin forum, so it's obvious that all people here uses a Bitcoin. Just kidding 
. I know there are also other cryptos that are being talked about here and we know that BTC doesn't have a cheap fee and its fees are not stable as its price. Right now, people are once again overwhelmed about its high fees. This could be the reason on why the poll results in on your thread favors other cryptos.
As for me, I am taking a break from the crypto gambling for a while and started getting hooked on the fiat online casinos. What I like about them the most is I don't have to pay on the transaction fee anymore when depositing and withdrawing. Their minimum deposits and withdrawals are also smaller.
Personally, in my opinion Bitcoin has costs that tend to increase and become more expensive, but all of this is still commensurate with the level of network speed when carrying out several transactions, even though there are also other Altcoins with almost similar speeds, but I still make Bitcoin the best and main priority.. I know there are also other cryptos that are being talked about here and we know that BTC doesn't have a cheap fee and its fees are not stable as its price. Right now, people are once again overwhelmed about its high fees. This could be the reason on why the poll results in on your thread favors other cryptos.As for me, I am taking a break from the crypto gambling for a while and started getting hooked on the fiat online casinos. What I like about them the most is I don't have to pay on the transaction fee anymore when depositing and withdrawing. Their minimum deposits and withdrawals are also smaller.
Apart from that, using Bitcoin can also be very beneficial because indirectly we maintain market stability regarding Bitcoin adoption, some people certainly don't care about things like this but I personally, who is also an investor and trader think this is concern for Bitcoin itself.
Indeed, fiat online casinos provide services in very cheap transactions some even waive fees, but it seems like I feel less satisfied when playing in fiat online casinos.
Maybe due to the absence or lack of live game options, of which there are of course lot in crypto casinos.
In fiat casinos you also get real-time transactions where deposits and withdrawals go directly into your debit card or bank account, and this is the only advantage from fiat casinos.
No more messing with bitcoins for me; I'm into altcoins now, especially TRX and XRP, and sometimes USDT. They're quicker and cheaper, perfect for my gambling adventures. While I do earn some bitcoins, I usually swap them for altcoins when the gambling itch kicks in. With bitcoin's crazy transaction fees, it's a hassle to move it to an exchange for gambling. So yeah, feeling a bit restricted in my gambling game these days.
I only gambled with Bitcoin a few times on one casino I started using after I joined the forum. I really prefer to gamble with fiat currency, my local currency, because at the local casino in my country, which is really a cool casino, everyone is most depositing and withdrawing with fiat currency, which seems to be pretty fast and cool, and that's the reason why most people obviously use it quite often.
Now that the bull market is about to kick in, I would not even really prefer to gamble with Bitcoin; I still intend to add more BTC to my holdings for the sake of more profit during the bull run.
Since casinos are legal in your country and you get the opportunity to gamble using your country's fiat currency, it seems much easier for you. But not everyone gets such an opportunity or many people want to hide their gambling from their relative and the authority of their whole country that's why crypto casino is becoming so popular day by day. And Bitcoin is totally decentralized so it is possible to gamble totally anonymously using Bitcoin. So many feel comfortable using bitcoins for gambling. I myself use bitcoins for gambling but very rarely. Because other altcoins like TRX, LTC, BNB are mostly used to save transaction fees. Now that the bull market is about to kick in, I would not even really prefer to gamble with Bitcoin; I still intend to add more BTC to my holdings for the sake of more profit during the bull run.
I used to use my crypto assets for gambling in the past, but not anymore. After I realised that it was not good to use your assets for gambling or betting, why? Well, because we know for sure that a crypto currency is a volatile currency, it's obvious that you will be disadvantageous if you use your asset for gambling, so I'm more on fiat or stable currency when I do gambling, mostly using USDT or any currency available; it should be stable.
I know a lot of you used your crypto asset for gambling, as some crypto gambling let you do that, but I think it's not practical to do that. Imagine using your asset and suddenly it increases or decreases, then there's a bad effect of it. But of course it depends on the gamblers; it's your money and asset, so it's your own risk. Just saying that is not practical.
I know a lot of you used your crypto asset for gambling, as some crypto gambling let you do that, but I think it's not practical to do that. Imagine using your asset and suddenly it increases or decreases, then there's a bad effect of it. But of course it depends on the gamblers; it's your money and asset, so it's your own risk. Just saying that is not practical.
We are here in a Bitcoin forum, so it's obvious that all people here uses a Bitcoin. Just kidding . I know there are also other cryptos that are being talked about here and we know that BTC doesn't have a cheap fee and its fees are not stable as its price. Right now, people are once again overwhelmed about its high fees. This could be the reason on why the poll results in on your thread favors other cryptos.
As for me, I am taking a break from the crypto gambling for a while and started getting hooked on the fiat online casinos. What I like about them the most is I don't have to pay on the transaction fee anymore when depositing and withdrawing. Their minimum deposits and withdrawals are also smaller.
. I know there are also other cryptos that are being talked about here and we know that BTC doesn't have a cheap fee and its fees are not stable as its price. Right now, people are once again overwhelmed about its high fees. This could be the reason on why the poll results in on your thread favors other cryptos.As for me, I am taking a break from the crypto gambling for a while and started getting hooked on the fiat online casinos. What I like about them the most is I don't have to pay on the transaction fee anymore when depositing and withdrawing. Their minimum deposits and withdrawals are also smaller.
Yes because for me, I get my weekly payment in Bitcoin and for that, I have no other choice but to gamble using Bitcoin, I don't have any problem with that and in fact, this has helped me a lot and at some point, even if I want to deposit into my casino account, I don't use another currency unless bitcoin and for sure this have helped me a lot, because with Bitcoin, my total winning will automatically become an asset, and because if Bitcoin value, is easy for me to earn more in rewards since it bet will come in says and with a dollar value.
So my staked will also float with the market and that gives me two added advantages and sometimes even much more than the winning itself most especially when I take a long break after a good game and a winning at the same time.
So to me and many others, bitcoin remains the most suitable currency for gambling and its advantages outweigh its disadvantages.
So my staked will also float with the market and that gives me two added advantages and sometimes even much more than the winning itself most especially when I take a long break after a good game and a winning at the same time.
So to me and many others, bitcoin remains the most suitable currency for gambling and its advantages outweigh its disadvantages.
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Whatever your preference is, feel free to express why that is and also answer the poll (optionally). It's for research purposes only.
Whatever your preference is, feel free to express why that is and also answer the poll (optionally). It's for research purposes only.
I used to gamble using my BTC funds that I received from my campaign signature earnings but when I realized that the latter is too valuable for me to waste it, I quickly switched to FIAT and altcoins.
Whenever I have BTCs, I see them as an opportunity to invest due to its high store-of-value in the market. I personally find it a waste to gamble it away given that it has the potential of skyrocketing its price in the future. This is the reason on why I focus mainly in gambling away my extra cash whenever I have one.
I'm making this poll to see what form of payment is the most preferred by people here. Given that gambling is a popular and practical use of bitcoin, I'm interested to see what percentage of people still have it as their preferred funding method and perhaps for what reasons.
I've been using BNB deposits mostly in my crypto-gambling activity for about a month now. User-friendly minimum deposit too for casual average gamblers using Binance exchange as the minimum withdrawal for BNB is just around 0.02BNB.
Bitcoin fees are spiking up and as we speak it rose to around $6. Exactly last week from now, if I remember correctly, the fees are playing around $3, and the prior week on that, around $1.5. What an increase. Aside from that, even using the average fees for a supposed quick confirmation time, it still takes time. To rush the process, I need to rebroadcast my transaction which will take more fees.
Every cents matter in my Gambling session so I choose to play with BNB for now. As usual, my way of betting is always shown in Fiat currency value.
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I only gambled with Bitcoin a few times on one casino I started using after I joined the forum. I really prefer to gamble with fiat currency, my local currency, because at the local casino in my country, which is really a cool casino, everyone is most depositing and withdrawing with fiat currency, which seems to be pretty fast and cool, and that's the reason why most people obviously use it quite often.
Now that the bull market is about to kick in, I would not even really prefer to gamble with Bitcoin; I still intend to add more BTC to my holdings for the sake of more profit during the bull run.
Now that the bull market is about to kick in, I would not even really prefer to gamble with Bitcoin; I still intend to add more BTC to my holdings for the sake of more profit during the bull run.
Yes I often use Bitcoin everytime I gamble since it is the widely accepted crypto of the casinos. But due to the increasing transaction fees and the situation that bear market seems over (given that the price is rising because of the recent positive news affecting Bitcoin) I switched using usdt.
For now, I prefer to accumulate rather than use my Bitcoin to play. And I don't think this is an issue because we can use any coins that we prefer if we think that's convenient to use for us.
For now, I prefer to accumulate rather than use my Bitcoin to play. And I don't think this is an issue because we can use any coins that we prefer if we think that's convenient to use for us.
Whatever your preference is, feel free to express why that is and also answer the poll (optionally). It's for research purposes only.
I use part of my Bitcoin earnings to gamble so I use Bitcoin to deposit a fund to my bankroll. I also use other form of cryptocurrency, whatever is available to fund my gambling activities. But for faster confirmation and access to play my favorite gambling games, I prefer altcoin that can confirm faster like TRC20 USDT, Litecoin, Dogecoin and other available cryptocurrency.
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Moreover, I do not consider it necessary to use bitcoins for gambling, nor do I see any distinct profitable side of it. It has been seen many times that when I have to gamble by withdrawing funds from a centralized exchanger, my withdrawal cost is higher if I use Bitcoin. Sometimes I use stable coins as well as TRX coins for gambling to reduce this withdrawal fee. 
In some casinos, withdrawal process is free. So I don't mind using Bitcoin when I am playing on those platform. Sometimes when the Bitcoin network is not congested, it is much cheaper to pay the transaction fee of Bitcoin than the gas fee of USDT.
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Especially in my case most of the time stablecoins are used for gambling. The first and main reason for this is that the investment amount of betting can be easily calculated through stable coins like USDT while gambling. In this case, when Bitcoin is to be used, there are many steps that cannot be taken quickly. Moreover, I do not consider it necessary to use bitcoins for gambling, nor do I see any distinct profitable side of it. It has been seen many times that when I have to gamble by withdrawing funds from a centralized exchanger, my withdrawal cost is higher if I use Bitcoin. Sometimes I use stable coins as well as TRX coins for gambling to reduce this withdrawal fee.
I'm a hodler so I kept all the sats that I could get hold of, especially now that we are entering the Bullrun, I prefer stable coins and Tron when playing because the fee is very cheap and fast to confirm when it comes to using cryptocurrency on casinos small investors are likely to use altcoins because they are hodlers compare to big investors and gamblers who can take the risk of using Bitcoin when playing in casinos.
I might use Bitcoin when the market stabilizes but if the bull run is coming altcoin is my preference.
I might use Bitcoin when the market stabilizes but if the bull run is coming altcoin is my preference.
I'm a hodler too and I have a completely different approach. Since I'm a bitcoin maxi, I don't own any other shitcoins, so I'd have to buy that Tron you've mentioned to be able to gamble it.
I own bitcoin, I use bitcoin and I gamble with bitcoin to get more of it. Crypto casinos don't accept fiat and I'm not going to send fiat to a bitcoin exchange just so I can buy a stable shitcoin.
Using bitcoin to support businesses that accept it is never a bad idea if you're a bitcoiner.
I use all of the methods listed in the pool for gambling. It doesn't matter to me, bitcoin, fiat, other altcoins. It totally depends on what is happening at the present time. Currently, gambling with bitcoin with the rate of fees is left to for who do not mind and can afford it. I imagine going through the pains of funding your casino wallet despite the high fees and losing all of the money. There is no consolation that at least you got something back from winning. It is winning on both ends because miners are winning with the high fees and casino operators are winning when you lose. For me, in times like this I stay away from using bitcoin. USDT or Ethis the best choice for me.
Stable coins indeed would be a better choice especially for your peace of mind. There will be moments of regrets in every pump or dump with the market prices of the tokens we usually hold. At least with stable coins, you’d be at ease that the amount you’ve lost would stay as is, without any regrets. Jump to: