Post
Topic
Board Gambling discussion
Re: BTC price VS gambling
by
Ziskinberg
on 26/04/2021, 11:45:33 UTC
Everything is on the rise the past few months, thus any coin is "expensive" to use. I am still using Bitcoin for my gambling purposes, while sometimes I've also used Dogecoin, no other coins apart from these two. I'm skeptical about using BTC for any new deposits in casinos' due to high transaction fees. Currently using my balance, trying not to lose it since I can't afford multiple deposits.
I think pretty much most users are in the same boat as you are, we do not want to make a transaction to the casino because we know how expensive it is going to be to get our coins there especially if we only want to gamble with a small amount of money, and despite all of those inconveniences the gambling activity during the pandemic saw a huge increase, which is good but I wonder how much money was wasted on fees over those months when the price of bitcoin was increasing and creating a new ATH almost every day.

Yes, as a rule, two confirmations are enough to understand that the transaction will not be recalled by the payer. 

As for the high fees associated with the rise in bitcoin prices, the logical solution to this problem is to use altcoins. 

Since January 2021, I have created many wallets for various alternative cryptocurrencies (Bitcoin Cash, Litecoin, Dogecoin, Ethereum Classic), which allows me to pay small commissions and save money to participate in interesting gambling. 

Bitcoin - maximalists believe that only Bitcoin has practical value, and no one needs alternative cryptocurrencies. 

However, it is not.  In many situations, the use of alternative cryptocurrencies is the optimal solution.

Not an optional solution only but the best solution in this situation. Bitcoin will always remain as the best coin in the market, however, its use for the transaction is not any more practical given the high fees, it will not help the volume of gamblers which majority are just gambling with a small amount, bitcoin fees now will definitely discourage them if they will not look for altcoins to gamble.