Do you think bitcoins are too high in price to gamble?

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Last post made 2 years ago by seanpdunn
mamagotit
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  • Given the incredible increase of bitcoins cost and the market ( sellers) raising the cost 30 percent on average and above in most cases unless you buy in bulk do you see this as a double gamble?

  • I think it is becoming more difficult.   I would love it if the sites would  use  a smaller denominatio/subdivision of Bitcoin. 

  • Yes, increase of Bitcoin price made it less usefull for gambling. Now transaction fees is very high (or you have to wait up to a few days).

  • It has become inpossible for me to use bitcoin to play on poker sites. I use a netspend card for buying bitcoins and cash buys into poker sites. ACR for some reason does not take cash transactions from me altough all other sites do. Coinbase does not take netrspend... so i was forced to use cex.io.... i spent about $22 to buy a coinbase amount and then found out that I can't withdrawal anything under 0.01.. i currently have 0.0017878, so i need to buy another $100 in bitcoin to initiate a withdrawal...... plus the tranaction fees to withdrawal are excessive..... I wish ACR would figure out how to make debit card transactions.

  • An obvious sign that bitcoin becomes inconvenient for gambling is that popular bitcoin casinos began to remove bitcoin banking or add altcoins to their payment metods.

    For example, recently TTR casino removed bitcoin payments, and Bitstarz added Litecoin and Bitcoin Cash to their cashier. 

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  • I am so deterred from using my BTC for deposits.  About a month ago, i spent $25 and ended up getting $4.30 to play with. The difference were miner's fees. Was so drastic, the casino had to do a double check and see for themselves. 

    struggle

  • I think that banks earn the most on bitcoins because the commission for transferring bitcoins is really high. In reality, it is now more profitable not to use bitcoins. 

  • It took me some time to find the best places to purchase crypto for gambling and then learning the betting was a whole other thing but now I've got it pretty figured out. That being said I play at a couple different crypto based casinos that the play currency is displayed and formatted on fiat but when you leave the game its back to the chosen crypto you're playing with which is nice especially if you are still learning uBTC type formats. Mercuryo.io is a decent exchange that has relatively low fees and they're pretty fast in most cases. 

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