The Pros and Cons of Bitcoin Gambling - page 5.

ethereumhunter

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Quote from: rodskee on June 14, 2022, 01:19:49 AM

Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.

But let me pause you on this part , because the gambler that seeks easy win are those gambler that usually losses their funds badly .
never seek for fast income mate , this is gambling that has more applicable to not expecting winning instead try to find the happiness and enjoyment when playing .
so yeah it is advantageous to play using bitcoin but the Idea ? it is still gambling and none are permanent and constant .

Gamblers who only want to find victory will not get it easily because of the luck factor that cannot come whenever he wants. Gambling is not a quick way to make money but a quick way to lose so never try to gamble if you are not ready to lose. The public does not understand this, so they continue to try to gamble because of the many temptations to continue gambling. If they could have realized this, they certainly wouldn't have tried to gamble longer and wouldn't have used more money.

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Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

Nowadays, there are a lot Bitcoin gamblers who are hoping to earn big in a short period of time. But the majority of the community are not aware and don't have any idea regarding about the advantages and disadvantages of this industry. That is why I'd like to discuss this matter to show what I had discovered in the Bitcoin gambling.

But let me pause you on this part , because the gambler that seeks easy win are those gambler that usually losses their funds badly .
never seek for fast income mate , this is gambling that has more applicable to not expecting winning instead try to find the happiness and enjoyment when playing .
so yeah it is advantageous to play using bitcoin but the Idea ? it is still gambling and none are permanent and constant .

Fundamentals Of

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One of the cons of Bitcoin gambling is that whenever the market is really bearish and the price of Bitcoin is dipping far too low, you would be forced to increase the size of your bet in order to reach your USD betting amount. That's such a waste of Bitcoin for me. My $100 bet in Bitcoin when the price is $20,000 is much much higher than when the price is $50,000. This may not necessarily be a con against Bitcoin betting for some but for me it is.

ipanks

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Quote from: TheGreatPython on June 13, 2022, 02:31:56 PM

snip

With the existence of many bitcoin gambling sites, we can choose which one we prefer and use it as a place to play gambling. And for the countries each casino allows, we can see it in the Help section of the casino and if we don't find it, we can ask customer support.

With a decentralized and centralized system, we can choose which one can give us comfort so that we can play gambling without any problems later.

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Quote from: rhomelmabini on June 13, 2022, 05:30:46 PM

Quote from: Jemzx00 on June 12, 2022, 10:40:38 AM

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

crypto/bitcoin casino is the best gambling place for those who keep their anonymity. much different if you go to a traditional casino or play in a fiat-based online casino. nowadays there are many crypto casinos that do not require KYC, which is a big advantage for gamblers nowadays.

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Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

1. It is decentralized.

This can be one of the favorite reasons why people like Bitcoin for gambling. Moreover, if we are living in a country where gambling is fully prohibited. We can use Bitcoin to play in online gambling platforms that accepts BTC for payment. Right now, so far, we can find out many platforms that are accepting BTC.

Additionally, this is easy to use and it gives more chances to us to come with sending and recevingn Bitcoin for investment at once. Bitcoin is also easy to send, moroeve right now we can use some networks that wil ease us to have lower fee transaction.

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Quote from: milewilda on June 13, 2022, 05:34:46 PM

Quote from: rhomelmabini on June 13, 2022, 05:30:46 PM

Quote from: Jemzx00 on June 12, 2022, 10:40:38 AM

Quote from: rhomelmabini on June 12, 2022, 08:04:38 AM

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

Soo much convenience i would say if we do tend to compare it into those traditional aspect or ways on how we would able to play without any hardship
in speaking with anonymity and decentralized.Yes, there are some part which are totally some cons but not really that much or more worst when dealing with a fiat casino.
The only con's i would say is in attaching yourself with the addiction on playing gambling and i dont see any issues about putting yourself known
that you've been doing gambling.Its none of their business on how you would be spending up your funds.

There are always pros and cons, in both traditional and online crypto gambling.
And it depends on how you look at these 2, and how it will work to your advantage.
Because at the end of the day, the funds that you will spend is up to you.
But on my end, I found crypto gambling as a very convenient place for me to handle my gambling activities.
So the pros and cons of bitcoin gambling as compared to traditional fiat casinos depend on the gambler himself.
Some will stick to fiat or traditional, because they are more comfy with it as they are used to this set-up.
But for most here in the forum, I believe, a lot are having their betting via online crypto casinos now.

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Quote from: rhomelmabini on June 13, 2022, 05:30:46 PM

Quote from: Jemzx00 on June 12, 2022, 10:40:38 AM

Quote from: rhomelmabini on June 12, 2022, 08:04:38 AM

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

Soo much convenience i would say if we do tend to compare it into those traditional aspect or ways on how we would able to play without any hardship
in speaking with anonymity and decentralized.Yes, there are some part which are totally some cons but not really that much or more worst when dealing with a fiat casino.
The only con's i would say is in attaching yourself with the addiction on playing gambling and i dont see any issues about putting yourself known
that you've been doing gambling.Its none of their business on how you would be spending up your funds.

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Quote from: Jemzx00 on June 12, 2022, 10:40:38 AM

Quote from: rhomelmabini on June 12, 2022, 08:04:38 AM

Not to mention, Bitcoin being used on gambling sites is one of the many reasons that it flourished to what it is now. Of course there will be pros and cons on using bitcoin or other crypto on gambling sites, but I say it's on the individual to weigh that if it's convenient for them on using it or not. For me, I say it's more convenient but I try to limit it especially if it concerns my privacy.

Exactly, the adaption of bitcoin and other crypto being used as the main currency for gambling is one of the great thing why crypto is flourishing and prospering. Actually, other than security and anonymity of the users, there is no main pros for crypto gambling website differ in just a regular online casino. Anyways, the convenience it provides to us in the crypto industry to directly use our crypto to gamble is already to good for me.

When we interact and put our money inside an online gambling casino, that definitely already less secured and has less anonymity compared to when it was just on your wallet. I say the pros in it are just it's convenient for us to use directly and no need for middlemen just for us to be able to play in a casino.

TheGreatPython

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Quote from: ipanks on June 13, 2022, 05:24:52 AM

Maybe that's true but even if he can use bitcoin, I don't think it will be easy for him to be able to gamble in a casino that refuses his country to gamble because it's written in their regulations. Even if he uses a VPN to visit the site, I think the casino will know he's broken their rules and could have his account locked out. If I were him, I would not visit that casino, especially if I knew the casino does not allow my country to access the site.

That's the best thing that we can do to avoid trouble. There are so many bitcoin gambling sites nowadays, so we should not force ourselves on one site but you can always proceed to the other. See if they allow your country. I am sure that not all of them are the same that can restrict the same countries.

Bitcoins are cryptos and cryptos are supposed to be anonymous, and by this, we also have a fully decentralized gambling sites that don't have any restrictions whatsoever. It's the same as an exchange where we also have two kinds, one is centralized like binance and kuckoin and the other one is decentralized like pancakeswap and etherdelta.

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Quote from: Doell on June 11, 2022, 03:45:30 PM

Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

- Does Bitcoin Gambling can give a good opportunity to everyone?
- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

IMO gambling using Bitcoin is something profitable, let's say you own 1 Bitcoin and gamble. Then you win and your balance become 100 Bitcoin, also there is added selling value for you if the bitcoin price increases. You can simultaneously invest and hold in the long term, it will make you luckier.
Addiction will not find good results, playing gambling if you are not smart will always find a point of lose. Addiction is a sickness, it's good to gamble just to fill spare time and not be always consumed for your mind.

There are a lot of advantages for bitcoin gambling but if you gamble without setting your limits and you play it irresponsibly, you cannot expect for a positive outcome. However, using bitcoin whether in gambling or investments have higher chances to make you profitable, but its still not a guarantee to free you from losses. And especially if you fall for gambling addiction, it makes you profitable in the first days but believe me, the rest of the days are series of losses that makes gambling addiction very unhealthy.

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Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

Bitcoin gambling for me is just a matter of Fun or amusement in accordance with my insight with this.
Hope every one can give other tips on this matter..

I dont think there will be any difference in the changes made within when you play gambling with either local fiats or Bitcoin / any other crypto currencies. The difference is just the payment / currency. If you are well aware of Bitcoin and love its existence, then not only gambling, you will find more fund and amusement in every platform where Bitcoin is accepted or used. Its just who is using and how he or she is looking at bitcoin or any other currencies.

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Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

Everything is good until I read this I don't know if it's a typo mistake or if you have a hard time getting your message across, if you become addicted to gambling it doesn't matter where you are playing, it's a bad thing getting addicted it's not good and gamblers should do all they can not to fall and become an addiction, even the casino would not want you to become a gambling addict, they have a warning on their TOS and in fact, there are casino which bans players who they think are gambling-addicted.

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Quote from: blockman on June 13, 2022, 04:40:55 AM

The value of bitcoin if you're going to gamble right now will depend on what you feel. If it's totally okay with the current price of bitcoin then you can gamble no matter what the situation is.
But if you're thinking about the current value of it then that's lesser bitcoin for you to gamble. This moment is tackling everyone as we're in the bear market, we still have options and they're a lot so if you don't like to gamble in bitcoin, choose the other options.

I wonder how those who strictly adhere to the budget feel today, but even without playing, they have lost more than 10% of their capital in bitcoin today. It is clear that for those who have been in cryptocurrency for a long time, such fluctuations are not surprising, but for new people who have begun to use bitcoin for purely utilitarian purposes, this can bring unpleasant emotions.

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Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

- Is it convenient to play in the Bitcoin Gambling?

I feel that there is no difference between bitcoin gambling and fiat gambling. Here, I'd say it is more convenient to receive winnings in bitcoin than in fiat.

Quote

- if you become addicted to gambling can it be said that it is a good result even though there is an advantage if you play in the Bitcoin gambling

Gambling addiction cannot be said to be a "good result" because addiction is simply a loss of self-control. Therefore, it cannot have any positive correlation with gambling. Although I have seen folks who gamble but are not addicted to it. Infact for some of them it is an investment and they have become so good at it that they have been able to consistently made profits from it. In this sense, I will agree that this is a "good result" of gambling.

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Quote from: Oshosondy on June 13, 2022, 03:46:30 AM

Quote from: Gianluca95 on June 13, 2022, 03:31:35 AM

snip

Maybe that's true but even if he can use bitcoin, I don't think it will be easy for him to be able to gamble in a casino that refuses his country to gamble because it's written in their regulations. Even if he uses a VPN to visit the site, I think the casino will know he's broken their rules and could have his account locked out. If I were him, I would not visit that casino, especially if I knew the casino does not allow my country to access the site.

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The value of bitcoin if you're going to gamble right now will depend on what you feel. If it's totally okay with the current price of bitcoin then you can gamble no matter what the situation is.
But if you're thinking about the current value of it then that's lesser bitcoin for you to gamble. This moment is tackling everyone as we're in the bear market, we still have options and they're a lot so if you don't like to gamble in bitcoin, choose the other options.

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Quote from: Gianluca95 on June 13, 2022, 03:31:35 AM

I don't see any advantage or disadvantage in bitcoin gambling, it is only an alternative way to gamble.

What I have noticed is even crypto gambling generally, all gambling sites that were accepting only bitcoin before are now accepting other coins like ethereum, litecoin and USDT, as OP only specify only on bitcoin can make people think there are betting sites that accept only bitcoin.

But I see more convenience to use bitcoin to gamble than fiat.

Quote from: Gianluca95 on June 13, 2022, 03:31:35 AM

The only good thing is that if you're from a country that deny the access on gambling site, with bitcoin you can easily bypass this restriction and play. This is the only advantage that I see at the moment.

You are right, but if and only if the betting site do allow VPN because most likely the IP address of the country that restrict his citizens not to gamble will be blocked from accessing the betting site.

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I don't see any advantage or disadvantage in bitcoin gambling, it is only an alternative way to gamble.

The only good thing is that if you're from a country that deny the access on gambling site, with bitcoin you can easily bypass this restriction and play. This is the only advantage that I see at the moment.

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Quote from: Bitinity on June 12, 2022, 03:40:32 AM

~

Quote from: gunhell16 on June 10, 2022, 10:09:02 PM

7. Bitcoin has (had) low transaction fees.

Here in my country where most people play in local gambling sites with fiat. There is no transaction fee for both deposit and withdrawal, means that we dont have to pay any fee. Bitcoin on the other side may have high transaction fee, even worst there are some casino that charges you so high withdrawal fee but there are some casino with no withdrawal fee. In this case, fiat payment is better than bitcoin (at least for me).

But using fiat always means KYC, right? And KYC means taxes in case you managed to make a profit. But in general, I agree with all your comments, since now there are few purely crypto casinos that would be completely free from regulators, so gradually the use of the crypto becomes indistinguishable from the use of fiat (and the disadvantages of the crypto in the form of commissions or low speed remain).

Topic: The Pros and Cons of Bitcoin Gambling - page 5. (Read 867 times)