Gambling with Fiat or Crypto? - page 5.

uray

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Quote from: Janation on January 04, 2020, 06:30:28 AM

That is different from spending fiat on a grocery store.
Just think of it, when you buy something from the grocery, does that fiat value goes down? Becausw that is whats happening on cryptocurrency when you sell them. For now, I'd rather hold my cryptos than gamble them. I will just use my fiats to gamble.

You can have your own opinion when you gamble, i use bitcoin and alts to gamble most of the time because i find it easier for me rather than using my credit card to load the money and send to gambling sites with all the transaction charges and the conversion charges and why these struggle when you have bitcoin and alt coins and good crypto based gambling sites. If you analyze there is not much difference as crypto is much safer and easier than all the conversion charges when you wage with fiat.

MyIdeas

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Quote from: Bezobraznike on January 05, 2020, 10:16:04 AM

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In real life, I have never visited a casino, and I don't worry about it. I never visit betting offices to bet on results in sports, but I usually prefer to do so online. In fact, using crypto currency for ease of use is more appealing to me, and I don't like using cash for gambling. While it is easier to control yourself when using cash, using cash in gambling is not a very good thing for me, nor is it very logical and easy to do because of country regulations. That's why I prefer to use gambling with crypto money.

I was once, but to call a friend, I didn't make any bets. I bet online, mostly sports betting, but in the past years I use crypto-currencies
for gambling. It's more convenient, crypto-currencies are made for using them on the internet and gambling with crypto-currencies proves
that. You need to make deposits and withdraws and once you try that with crypto-currencies and find out how easy it is you will never
use fiat for online gambling again.

No one can deny that gambling with cryptocurrencies is the most convenient gambling for all of the world gamblers. The deposit and withdrawal is just like we do at physical casinos in which not any third party is involved. None of the government can trace your transactions and if it is banned in your country then you can gamble without any issue.

Bezobraznike

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Quote from: ?? on ??

In real life, I have never visited a casino, and I don't worry about it. I never visit betting offices to bet on results in sports, but I usually prefer to do so online. In fact, using crypto currency for ease of use is more appealing to me, and I don't like using cash for gambling. While it is easier to control yourself when using cash, using cash in gambling is not a very good thing for me, nor is it very logical and easy to do because of country regulations. That's why I prefer to use gambling with crypto money.

I was once, but to call a friend, I didn't make any bets. I bet online, mostly sports betting, but in the past years I use crypto-currencies
for gambling. It's more convenient, crypto-currencies are made for using them on the internet and gambling with crypto-currencies proves
that. You need to make deposits and withdraws and once you try that with crypto-currencies and find out how easy it is you will never
use fiat for online gambling again.

bobyhodob

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Quote from: Reatim on January 05, 2020, 06:39:52 AM

Quote from: panjul07 on January 05, 2020, 05:02:18 AM

Quote from: bobyhodob on January 05, 2020, 04:48:37 AM

Gambling with crypto of course ia the best a way to hide from the law
in my country gambling is strictly prohibited but with crypto i can still play all day
even if I play in front of the police station maybe they won't notice XD
I hope here gambling with crypto will not be quickly known by the public, maybe one day they will make a law for it

If you think that police wont notice your gambling activity because you are using crypto, give it a try then. LoL
Police is not that stupid IMO, no matter you are using fiat or crypto, the gambling games are mostly similar and police will notice it if you do it in front of them.
Gambling is still gambling, no matter you are using crypto or fiat. Here in my country, I'll be prisoned if they caught me while I'm gambling.

i think what he meant is "gambling in front of them" is he uses his Mobile
or even Laptops using Crypto gambling in which literal police standing in front you
wont notice that you are truly gambling since you can pretend that it is
only Facebook game or any form that can be played online,not unless
that Police have a knowledge about crypto playing then he might be on
the act of bringing him to jail.

or if you are referring in the agencies that is assigned in this crypto
gaming then this is another story but this is not what he mean.

Just make it clear i say i im play gambling on police station not standing on the front of police lol I played in front police station and they (the police) were eating donuts in there lol

Yes im using mobile device I even play in public services like in the park at coffee shops and even at work. people around me even my friends they only know if I'm playing an offline game because in my balance crypto dont have fiat symbols like USD $ euro IDR etc,, they might be easy to know if I was gamble with my money

Reatim

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Quote from: panjul07 on January 05, 2020, 05:02:18 AM

Quote from: bobyhodob on January 05, 2020, 04:48:37 AM

Gambling with crypto of course ia the best a way to hide from the law
in my country gambling is strictly prohibited but with crypto i can still play all day
even if I play in front of the police station maybe they won't notice XD
I hope here gambling with crypto will not be quickly known by the public, maybe one day they will make a law for it

If you think that police wont notice your gambling activity because you are using crypto, give it a try then. LoL
Police is not that stupid IMO, no matter you are using fiat or crypto, the gambling games are mostly similar and police will notice it if you do it in front of them.
Gambling is still gambling, no matter you are using crypto or fiat. Here in my country, I'll be prisoned if they caught me while I'm gambling.

i think what he meant is "gambling in front of them" is he uses his Mobile
or even Laptops using Crypto gambling in which literal police standing in front you
wont notice that you are truly gambling since you can pretend that it is
only Facebook game or any form that can be played online,not unless
that Police have a knowledge about crypto playing then he might be on
the act of bringing him to jail.

or if you are referring in the agencies that is assigned in this crypto
gaming then this is another story but this is not what he mean.

bobyhodob

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Quote from: panjul07 on January 05, 2020, 05:02:18 AM

Quote from: bobyhodob on January 05, 2020, 04:48:37 AM

Gambling with crypto of course ia the best a way to hide from the law
in my country gambling is strictly prohibited but with crypto i can still play all day
even if I play in front of the police station maybe they won't notice XD
I hope here gambling with crypto will not be quickly known by the public, maybe one day they will make a law for it

If you think that police wont notice your gambling activity because you are using crypto, give it a try then. LoL
Police is not that stupid IMO, no matter you are using fiat or crypto, the gambling games are mostly similar and police will notice it if you do it in front of them.
Gambling is still gambling, no matter you are using crypto or fiat. Here in my country, I'll be prisoned if they caught me while I'm gambling.

Man the police still human like us
Sometime in fact I gamble with the police lol I know any gambling prohibited but i'm still not finding law discussing about gambling using crypto here.
For me gambling is not a crime I don't think I'm too afraid of what punishment if it really exists

panjul07

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Quote from: bobyhodob on January 05, 2020, 04:48:37 AM

Gambling with crypto of course ia the best a way to hide from the law
in my country gambling is strictly prohibited but with crypto i can still play all day
even if I play in front of the police station maybe they won't notice XD
I hope here gambling with crypto will not be quickly known by the public, maybe one day they will make a law for it

If you think that police wont notice your gambling activity because you are using crypto, give it a try then. LoL
Police is not that stupid IMO, no matter you are using fiat or crypto, the gambling games are mostly similar and police will notice it if you do it in front of them.
Gambling is still gambling, no matter you are using crypto or fiat. Here in my country, I'll be prisoned if they caught me while I'm gambling.

bobyhodob

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Activity: 1162

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Gambling with crypto of course ia the best a way to hide from the law
in my country gambling is strictly prohibited but with crypto i can still play all day
even if I play in front of the police station maybe they won't notice XD
I hope here gambling with crypto will not be quickly known by the public, maybe one day they will make a law for it

Debonaire217

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Quote from: ufaiz50 on January 04, 2020, 08:57:21 AM

I prefer betting crypto, I choose not in terms of which are safer or practical. I like crypto betting to increase crypto interest and contribute to crypto market movements. Basically to increase the growth of crypto, but unfortunately not much that I set aside to gamble and more interested in trading cryptocurrency.

If you look from a security perspective, cryptocurrency guarantees your identity, where transactions without identity can be done, whereas as you said that fiat menag on the practical side and a stable value.

For me, gambling in cryptocurrency is the best possible way to gamble funds, because you can actually regain your funds by other means such as trading. Or else, do the other thing such as gain some funds first from trading and some online jobs to have some funds in gambling. In addition, it is easier to load money in cryptocurrency because it is near instant.

stadus

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Quote from: ufaiz50 on January 04, 2020, 08:57:21 AM

I prefer betting crypto, I choose not in terms of which are safer or practical. I like crypto betting to increase crypto interest and contribute to crypto market movements. Basically to increase the growth of crypto, but unfortunately not much that I set aside to gamble and more interested in trading cryptocurrency.

If you look from a security perspective, cryptocurrency guarantees your identity, where transactions without identity can be done, whereas as you said that fiat menag on the practical side and a stable value.

That's my main purpose which is to contribute to the crypto space as more gamblers patronizing the gambling sites, the greater the adoption will grow.
For many years, I did not lose my interest in gambling using crypto because like you said, it's more practical and safer in here.

It's not that you only contribute to the adoption but you also enjoy at the same time.

ufaiz50

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I prefer betting crypto, I choose not in terms of which are safer or practical. I like crypto betting to increase crypto interest and contribute to crypto market movements. Basically to increase the growth of crypto, but unfortunately not much that I set aside to gamble and more interested in trading cryptocurrency.

If you look from a security perspective, cryptocurrency guarantees your identity, where transactions without identity can be done, whereas as you said that fiat menag on the practical side and a stable value.

Janation

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Quote from: Ayiranorea on January 03, 2020, 02:58:52 PM

Spending cryptocurrency on gambling is similar to the spending to do with fiat on a grocery store. This makes people prefer bitcoin or other cryptocurrencies for gambling than fiat. Getting used to cryptocurrency on gambling is very simple, because we've got lot and lot of gambling websites specifically functioning with different cryptocurrency acceptance.

That is different from spending fiat on a grocery store.

Just think of it, when you buy something from the grocery, does that fiat value goes down? Becausw that is whats happening on cryptocurrency when you sell them. For now, I'd rather hold my cryptos than gamble them. I will just use my fiats to gamble.

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Quote from: michellee on January 04, 2020, 01:37:39 AM

Quote from: ?? on ??

Sometimes I have some trouble not being able to send money or deposit to a gambling account because the bank is always suspicious of what I'm doing and because of unknown transactions I've also been frozen by my bank for a few weeks. I prefer to buy crypto from someone first, and then I can safely and quickly deposit crypto where I can play anything I want. So it's easier for me to play in crypto, I have to say it's a great technology.

That would be bad news for you if the banks froze your bank account. Yes, choosing crypto as the way to gamble will give you a free to deposit any coin available in the gambling site, so you don't have to worry if your bank becomes suspicious about what you do. We can avoid investigating from the banks because they don't know if we use crypto to playing gambling. Even if they know we use crypto, it will hard to check on where we use the coin and what for we use the coin.

Indeed. Some high rollers in gambling also use mixers which makes their transaction be impossible to be tracked. On the other hand, small time gamblers which includeds us doesn't need that since it's not really illegal to gamble with crypto at all which gives us the freedom to play without worrying that the government may sue us for not paying taxes.

Latviand

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Well, what's better to use? For me, it depends on the gambler or the person that will play gambling, and I will make an example to myself, honestly, I tried gambling using fiat money, and it's not a pleasant experience even though I'm with my friends. Why? Because of the hassle in commuting, the noise around the casino place, the crowded people that makes you distract and lose your focus, and worst when you go broke and nothing left, its a bad day, and how will you go home will be your problem. I know it may sound it's my fault, but I admit yes, but there are a points that we really don't want to experience when we are playing, right? So after I quit then I discover gambling using a crypto and what's good in it is that I only use the little portion of my earnings in crypto to play and I find it more comfortable because I can play anytime and anywhere I want just to have a phone with internet connection and of course a crypto, and also you can play with your friends only. See, it's more convenient for those who don't want to hassle.

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Quote from: Ayiranorea on January 03, 2020, 02:58:52 PM

Spending cryptocurrency on gambling is similar to the spending to do with fiat on a grocery store. This makes people prefer bitcoin or other cryptocurrencies for gambling than fiat. Getting used to cryptocurrency on gambling is very simple, because we've got lot and lot of gambling websites specifically functioning with different cryptocurrency acceptance.

Same as with gambling with fiat, we have a lot of choices to choose from if you want but they are stricter in implementing rules and regulations because of the local law that they have to comply. But with crypto casinos, only the casino is the one that has to follow their local rules and the gamblers don't have to think of it but we have to obey the house rules of the casino where we gamble at. If it we're for the ease, it's very simple that gambling with crypto is the best.

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Sometimes I have some trouble not being able to send money or deposit to a gambling account because the bank is always suspicious of what I'm doing and because of unknown transactions I've also been frozen by my bank for a few weeks. I prefer to buy crypto from someone first, and then I can safely and quickly deposit crypto where I can play anything I want. So it's easier for me to play in crypto, I have to say it's a great technology.

That would be bad news for you if the banks froze your bank account. Yes, choosing crypto as the way to gamble will give you a free to deposit any coin available in the gambling site, so you don't have to worry if your bank becomes suspicious about what you do. We can avoid investigating from the banks because they don't know if we use crypto to playing gambling. Even if they know we use crypto, it will hard to check on where we use the coin and what for we use the coin.

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Quote from: AmoreJaz on January 01, 2020, 06:52:59 PM

it really depends on personal preference and the availability of his funds at that moment. many are preferring crypto nowadays because they can play anonymously without worrying to submit any kyc docs. but when you play with fiat in online casino, that's where kyc begins...

Exactly. That's the main selling point of crypto versus Fiat. You can use crypto all day long for gambling purposes without ever having to comply with KYC. Of course, there will always exist services that will require even crypto users to verify their identity. But the decentralized nature of crypto, gives us the choice to gamble without barriers. With many gambling dApps on various Blockchain networks like ETH and EOS, there's no need to worry about KYC at all. The main issue though, is price volatility of crypto relative to Fiat. Serious gamblers might want to use Fiat instead of crypto if they want to keep their profits. But average gamblers (like you and me) would simply choose crypto over Fiat for its censorship-resistant properties.

Of course, everything depends on a person's payment preferences over anything else. Because of this, neither crypto-based gambling sites will replace traditional ones which accept Fiat or vice versa. It's good to have diversity in order to make the gambling industry a better place. Hopefully, adoption of crypto within mainstream casinos would increase like never before as Blockchain technology scales for the whole world to use. Just my thoughts Grin

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Spending cryptocurrency on gambling is similar to the spending to do with fiat on a grocery store. This makes people prefer bitcoin or other cryptocurrencies for gambling than fiat. Getting used to cryptocurrency on gambling is very simple, because we've got lot and lot of gambling websites specifically functioning with different cryptocurrency acceptance.

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Quote

it breaks my heart see almost over 20% of my winnings go to the ridiculous tax collectors

All gambling is tax free where I live however thats not exactly including the company itself which must pay a flat tax towards government. So I'm not so biased between the two but I got to agree that crypto is hell of alot easier to generally hold a balance and gamble with and avoid any general hitches to your gameplay basically. THe only exception I can think of professional gamblers who have to register their earnings as income and maybe the situation changes again but I'm not a massive player like that so have no problem with having to employ an accountant.
Anything thats less hassle is going to be favoured by players generally. Also keeping a crypto balance means its easier to separate money for the bills from money thats ok to risk.

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Quote from: Debonaire217 on January 02, 2020, 07:30:16 AM

This question really makes sense if we think of the fact that most big time gamblers are actually converting fiats to cryptocurrency meaning to say that both are being utilized simultaneously, because based form my experience, I couldn't afford to bet money I earned from crypto space, most of the time I deposit using fiats to test my luck and to earn. Sometimes I use their faucets just to test their system.

That's true people convert their crypto into money while using but in case of holding crypto is profitable. I like crypto for holding not for gambling. For gambling we use fiat and like to store crypto. If you will keep spare amount for gambling you will not have to use your profit for gambling, it’s much better to make plan, store crypto and gamble with fiat only.

Topic: Gambling with Fiat or Crypto? - page 5. (Read 3124 times)