I vote for "Will use some part for gambling and sell the rest".
I gamble for fun, but I need money too.
big players will be ok with the high fees. but for small players, maybe they will offer some options.
despite the altcoin options, I believe that gambling websites will find a way to solve the high fees problem to attract more players.
for example, supporting zero-fee custodial bitcoin wallet service for their website.
Topic: If btc > $150k, will you still gamble it? - page 6. (Read 1819 times)
After so much positive speculation, optimism in markets, accumulation by institutional investors, too many analysts predicting a new ATH for btc, let's say if everything goes good and btc reaches extremely high price, will you still gamble it? Or will you 'be able' to gamble it? Won't the fees distract you from using it in gambling?
Take the poll and share your opinion.
Take the poll and share your opinion.
There won't be any need to run off gambling if the price is that high. At this time that price is still around $13k, many don't bet or gamble with a full bitcoin bit just little, so that is the way is going to be in the light of high price of bitcoin.
If Bitcoin price reaches 150k dollars, I don't think that I will continue to bet. I have enough Bitcoin to be rich in a situation like that. I wouldn't need to bet anymore.
I'd probably stake it, because there are casino's that accepts stable coin so its no problem while i gamble with USDT or DAI from Ethereum blockchain it would be no problem. I'd say, i only play 10% of my salary then the rest for food and accumulation.
We never know Bitcoin my break the $14k, so i guess im managing my money right.
We never know Bitcoin my break the $14k, so i guess im managing my money right.
It depends on how much fee I have to pay when making a deposit/withdrawal. If the transaction fee is high (I think it will be high, especially if bitcoin subsidies start to run out) then I will think twice before using bitcoin for gambling.
But if there is an option to exchange Bitcoin to altcoins that have low fees or can exchange Bitcoin into fiat, of course I will use that method.
But if there is an option to exchange Bitcoin to altcoins that have low fees or can exchange Bitcoin into fiat, of course I will use that method.
It's not very likely that Bitcoin reaches that price, at least not in near future.
I always use approximately same amount for gambling. So in this hypothetical case that Bitcoin price reached enormous price I will convert usual amount to fiat and gamble it. But this is not going to happen, I'm convinced.
I agree with you, Bitcoin has many other serious competitors now, and I'm not even talking about CBDCs.I always use approximately same amount for gambling. So in this hypothetical case that Bitcoin price reached enormous price I will convert usual amount to fiat and gamble it. But this is not going to happen, I'm convinced.
So there is no reason to get such a big bull run now.
After so much positive speculation, optimism in markets, accumulation by institutional investors, too many analysts predicting a new ATH for btc, let's say if everything goes good and btc reaches extremely high price, will you still gamble it? Or will you 'be able' to gamble it? Won't the fees distract you from using it in gambling?
Take the poll and share your opinion.
For me it's not the price that matters. I would be comfortable using Bitcoin for gambling at such price. After all, it would actually mean using very small amount in BTC, and I'm sure the minimum gets in BTC will decrease. However, what's important to me is the fees, and judging by his it's currently going, fees can be very big if the price gets so high. I would be okay with less than 5% fees, but if the fees make it impossible to deposit and withdraw small amounts, I'm probably not going to do that. Take the poll and share your opinion.
I will continue the same to bet with bitcoin. It's just another "value" I can use for my bets.
Maybe just optimize the fees but generally I will not change my betting habits.
In some occasion I will play less bitcoin (it's useless play so high stakes since we are talking about a x11 from nowadays value). For sure I will not sell, but continue to hold waiting for a new ATH
.
Maybe just optimize the fees but generally I will not change my betting habits.
In some occasion I will play less bitcoin (it's useless play so high stakes since we are talking about a x11 from nowadays value). For sure I will not sell, but continue to hold waiting for a new ATH
.I don't ask people to go for alt coins, but am curious to know why won't people go for alts of which price will be mich cheaper compared to btc when they are available as alternatives through the gambling website? Xrp and ltc are getting confirmed quick with so much less fee if compared to btc and I am seeing users paying miners over $50 to get their transactions confirmed.
I agree that rising bitcoin price often cause network congestion which will cause transaction fees to swell. This is another reason gambler turn to much lower altcoin for transaction fees. If the bitcoin price hit $150K, I probably wouldn't use it for gambling either and chose another altcoin as an option to save on transaction fees.
"But what about the fees?"
When the transaction fee goes up I believe the gambling site will adjust its withdrawal fees "likely to increase". This is what gambler might consider using bitcoin to gamble at times of high price. It's not very likely that Bitcoin reaches that price, at least not in near future.
I always use approximately same amount for gambling. So in this hypothetical case that Bitcoin price reached enormous price I will convert usual amount to fiat and gamble it. But this is not going to happen, I'm convinced.
"But what about the fees?"I always use approximately same amount for gambling. So in this hypothetical case that Bitcoin price reached enormous price I will convert usual amount to fiat and gamble it. But this is not going to happen, I'm convinced.
Question being asked often in this topic. Ofcourse many gamblers would still gamble at that price for the reason that nothing will somewhat change. The price will be expensive but it is a matter of adjusting the amount to gamble. There is a point with fees but I doubt gambling sites will not make an action regarding this concern if ever majority of their players will be taking this aspect seriously. Centralized gambling sites will be more used if this is the case because fiat is accepted as a mode of payment. Adjustments in the side of gambling sites regarding high fees is also expected.
How ever bitcoin price going up or down keep gambling during have chance and have inside money and not using my saving money, most active with gambling site I never use bitcoin as my bet and use altcoin like doge, eth, xrp and more usually use trx for betting. I think with bitcoin look higher amount when betting maybe bitcoin have higher price than altcoin, but when bitcoin break out to higher price above $150k will give more bigger payment fees and does it not good when using bitcoin as betting currency, I think better using altcoin with lower payment fees transaction when sending to betting site and withdraw will have cheapest fee too than using bitcoin.
I think that as the price of bitcoin increases nothing will change! People will make smaller bids... After all, once the bitcoin cost 500 dollars, and people played the same way in the casino... Then it costs 10K dollars and nothing has changed...
For those who really engage with crypto gambling activities they won't be bothered as the amount still converted to fiat, nothing will change as they will continue their playing habits.
Always depends with how a person percepts their participations, some might think about the current value and choose to hold and stop for a while.
While others will continue and let the fun continue, it's more on how you manage your
gambling activities, that where it ends,.
If this is the case, I will probably just hold my bitcoin than using it for gambling since I'm not really a big gambler. Gambling is not really my priority so my first choice would be not to gamble, not because of higher fees or something. But if I would really like to gamble while the price of Bitcoin is that high, then I would gamble but with a limited capital only. Or I can also transfer my BTC to altcoin then that's what I will use to gamble.
After so much positive speculation, optimism in markets, accumulation by institutional investors, too many analysts predicting a new ATH for btc, let's say if everything goes good and btc reaches extremely high price, will you still gamble it? Or will you 'be able' to gamble it? Won't the fees distract you from using it in gambling?
Take the poll and share your opinion.
Take the poll and share your opinion.
I will continue the same to bet with bitcoin. It's just another "value" I can use for my bets.
Maybe just optimize the fees but generally I will not change my betting habits.
In some occasion I will play less bitcoin (it's useless play so high stakes since we are talking about a x11 from nowadays value). For sure I will not sell, but continue to hold waiting for a new ATH
.
I think that as the price of bitcoin increases nothing will change! People will make smaller bids... After all, once the bitcoin cost 500 dollars, and people played the same way in the casino... Then it costs 10K dollars and nothing has changed...
let's say if everything goes good and btc reaches extremely high price, will you still gamble it? Or will you 'be able' to gamble it? Won't the fees distract you from using it in gambling?
In that case I would use a gambling website that accepts altcoins payment, if bitcoin goes that high in price and that results in huge transaction fees then casino websites will be the ones that should be thinking about coming up with a solution and the only permanent solution to that would be using an altcoin with lower fees at the time, even right now that fees are not that high many casino websites support payments via other cryptocurrencies to reduce costs for their users.
But obviously if bitcoin surges in price other altcoins are not going to be stuck at these price ranges and they will increase in price too, so some of them still not going to be a proper replacement for bitcoin payments to reduce costs and that is when altcoins with very low/zero fees will gain more popularity and not only can they be the payment system that casino website use but also soon after that other online businesses that accept crypto also should do the same thing and at least add the option for paying with other altcoins with lower transaction fees as well.
From my perspective, I would stop playing gambling in a crypto casino if bitcoin's price had reached its new ATH price because I would be more dedicated to hold and maintain all of my bitcoin in my wallet in a long-term. There are also chances that transaction fees will increase, so it would be troublesome to deposit and withdraw my bitcoins in a crypto casino.
It's not very likely that Bitcoin reaches that price, at least not in near future.
I always use approximately same amount for gambling. So in this hypothetical case that Bitcoin price reached enormous price I will convert usual amount to fiat and gamble it. But this is not going to happen, I'm convinced.
I always use approximately same amount for gambling. So in this hypothetical case that Bitcoin price reached enormous price I will convert usual amount to fiat and gamble it. But this is not going to happen, I'm convinced.
Till now, around 49% users voted for gambling with their btc no matter the price. But here, everyone is also worried about the matter of high fee when price rise takes place (which can be seen already), so I have created a new thread about what can you do when the fee is high and you want to gamble at any cost. Visit it below and share your valuable opinion there.
https://bitcointalksearch.org/topic/how-far-will-you-go-when-you-sent-btc-to-a-site-with-high-fee-but-5285468
https://bitcointalksearch.org/topic/how-far-will-you-go-when-you-sent-btc-to-a-site-with-high-fee-but-5285468
I will also still gamble but with lower amounts. Last years I keep betting the same amounts in BTC even when it was upto almost $20k. If it goes even higher I would go lower.
The problem is with crypto you don't see the real value. I would never gamble that high with cash then I do now with crypto.
The problem is with crypto you don't see the real value. I would never gamble that high with cash then I do now with crypto.
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