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Topic: Question for regular casino players. Will you use Lightning if available? (Read 3394 times)

Wind_FURY (OP)

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Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 07:09:34 AM

Merited by CryptopreneurBrainboss (1), realpseudozach (1)

I made a topic 4 years ago that asked if casino site owners and operators were interested in integrating/implementing the Lightning Network for their service. It had just three replies, and two were mine. Hahaha.

I want to ask again, and this time to the users. Will you use the Lightning Network if available? Or will you continue to use whichever altcoin you're currently using?

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wildan88

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 07:21:32 AM

As much as possible if it is possible I will use lighting network for faster transaction and cheaper fee and I think it is fit for me since I usually use a lower amount in deposit and I mostly use Bitcoin in all of my transaction online.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 07:37:52 AM

I use altcoins mostly in casino but I only play with web 3.0 so I think even if you have lighting network I wouldn't still use it since the fee in other network such as BSC is already low but I am sure having lighting network and web 3.0 would receive good feedback from players.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 07:54:01 AM

Quote from: Wind_FURY on April 19, 2022, 07:09:34 AM

I am not very familiar about the Lightning Network. Only read about it a little from time to time, but never saw how the implementation in a casino would actually work. Could you maybe explain a little here in the thread what the advantages are over the usual casino design, and what the draw backs are? As far as I understand it the Lightning Network is a second layer over blockchain networks that helps in making smaller transaction between 2 parties without need to actually transfer funds. On paper that sounds very good, because many people trying out a new casino will not do so with large funds, but rather smaller amounts. If it is a cheap and easy way to reduce transaction cost I am wondering why it is not being implemented.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 07:55:03 AM

Quote from: Wind_FURY on April 19, 2022, 07:09:34 AM

From a user's point of view, Lightning Network integration looks like the right thing to me, because, as many people know, LN directly affects fees and transaction speed. Of course, as a user, I would like to see LN in online casinos and and my attitude towards it is more positive.

From the point of view of gambling websites, I can assume that this will also bring positive results, at least in the long term, and attract new users. For me, the technical side of the issue is unknown and whether casinos will want to add LN to themselves if this requires a lot of money, time or other resources.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 08:03:29 AM

Quote from: Wind_FURY on April 19, 2022, 07:09:34 AM

Everyone would loved that, I honestly wanted to use it but until now I am still not sure how it works or how could I use it I only see it in some p2p exchange and exchange sites I think some gambling sites already have lighting network supported and I think this could be a good to have especially when the transaction fee is really expensive and we still wanted to use Bitcoin.

ya.ya.yo!

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 08:05:15 AM

I think the reason why people are using the Lightning Network and not legacy Bitcoin or even SegWit is the transaction speed and also the cost of the transactions. Do you really need almost instant transactions and very cheap fees for casino deposits?

I think the people that will use it, will be the gambling degens, because those people cannot wait for deposits to be verified. Most of those people switched to LTC and XRP for the fast transaction speed and low fees. The majority of the people does not want to use Bitcoin (BTC), because of the price volatility AND the potential to make large profits in the future. Roll Eyes

Will I use it, if it is available...... sure... depending on the circumstances. Wink

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 08:28:05 AM

Quote from: Kakmakr on April 19, 2022, 08:05:15 AM

You have a point and I think lighting network is suitable for small amount only? Am I right? I am not really that familiar with lighting network. I would rather use alt coins to avoid expensive fee rather than using lighting network since I am not familiar with it.

But if I really need to transfer Bitcoin to deposit in casino it doesn't concern me to wait 10-15 mins to credit it in my account.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 08:41:41 AM

I don't have problems with using the Lighting Network since it would be less expensive and faster deposit in the casino but I still would use the normal BTC transaction as much as possible since the fee is not that far and not more expensive than the LN and you have the alts as an alternative if the fee is really expensive.

For all users who are not familiar with Lighting Network (LN) better check this thread: A Beginner's guideline to Bitcoin Lightning Network

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 08:48:09 AM

#10

Quote from: Wind_FURY on April 19, 2022, 07:09:34 AM

Will you use the Lightning Network if available? Or will you continue to use whichever altcoin you're currently using?

I guess yes, definitely a good addition and not a burden for something that is a headache for years now, these transaction fees. If there's an alternative and much lower in gas fees, that's definitely a trade-off and definitely would go to altcoins that is much cheaper compare to Bitcoin's lightning network. Simple as it is, people like cheap or something close to a free.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 09:49:35 AM

#11

Quote from: Wind_FURY on April 19, 2022, 07:09:34 AM

Maybe because casino Site Owners are not really active in bitcointalk and posting here so you received no response at all.

Quote

I want to ask again, and this time to the users. Will you use the Lightning Network if available? Or will you continue to use whichever altcoin you're currently using?

If Gambling operators will integrate/implement Lightning Network? then why not right? maybe it is good initiative from the gambling operator to help many to understand what Lightning network is all about and what is the benefits of this to all gamblers and cryptonians.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 10:41:45 AM

#12

Yes, I'm willing to use the Lightning Network if available. But maybe not all casinos are already using the old way while most users still use altcoin.

Altcoins is one of the solutions to overcome the high shipping costs with bitcoin. And I think if the casino can integrate with Lightning Network, maybe that could help adjust the cost.

The casino can promote this to the public and they can say that there are reducing the waiting time for the transaction with Lightning Network.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 10:54:13 AM

#13

Definately
Considering me a small scale gambler, I usually do not add a lot of funds which are the exceptionally high therefore for me Lightning network is actually very good match. It's not only faster but at the same time it's also more affordable as well.

Even if some casinos do offer Altcoins they are not really trading platform therefore they don't usually have that much availability and there is no option of that sort as well.

But then again we Cannot forget the problems that lightning network could face as well. It's still very much problematic since people could be involved in scams as well, the network is exactly not that secure as the normal transactions.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 11:04:11 AM

#14

Quote from: michellee on April 19, 2022, 10:41:45 AM

Lightning network is an off chain transaction so casino will need to setup there LN in able to cater this services while not all user is already using since its still in developing stage. The feature of LN is really cool and perfect for casino transaction but with the current status of its development should make you think twice on using it especially when real money is involved.

For me I will stick with high speed low cost altcoins for now but we are talking about a fully developed LV version then I will go for it but not this time since its complex for normal user to use it.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 11:55:14 AM

#15

Quote from: Eternad on April 19, 2022, 11:04:11 AM

If a casino wants to grow its business bigger and get more customers, maybe they should consider using the Lightning Network to provide a new experience to their users so that they can compare using the usual bitcoin, altcoins, or using the Lightning Network itself. It will give a different experience for the casino and its users, but it will return to the casino.

Some users may still stick with low-cost but high-speed altcoins because that means saving time and money that we have to pay.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 12:06:13 PM

#16

I'm not a regular casino player but someone who regularly bets on sports. If the need arises, sure why not? Currently, I'm satisfied with depositing via segwit and altcoins like XRP or tokens via BSC/Polygon. I also remember downloading the Phoenix wallet before just to try sending to via LN but never followed trough.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 12:25:25 PM

#17

The an ordinary casino user my answer is yes I will love a casino that uses the Bitcoin Lightning network for its transaction as you already know the many advantages that come with that for a user meaning lesser fees and faster transactions.
But on the other hand, there are so many set back for that to happen one is the lack of trust most casinos will not want to up into a network that is still new and in a beta mode the risk of using such a new Bitcoin development (LN) to carry out large transactions, I made a thread on why popular exchanges avoid the adoption of Bitcoin lightning network on their platforms and the replies I got build me a better understanding on why exchanges&casinos avoid lightning networks.
You can check the thread out

Quote from: Wiwo on April 16, 2022, 05:10:00 PM

As the cryptocurrency community keeps expanding and the entire cryptocurrency ecosystem is growing a lot of development has been focused on the need to make Bitcoin usage easy and faster haven't witnessed Bitcoin network congestion in the past which always result in I in high transactions fees in the bitcoin blockchain and transactions taking longer time to get confirmed, so there was a need for the development of the Bitcoin lightning network (LN).
The entire Bitcoin community welcomed this development to ease the users of low fees and faster transaction time.
But the surprise of many Bitcoin analysts quite a good number of the world-leading cryptocurrency exchange have failed to integrate the bitcoin lightning network into the exchange networks, what seem to be the reasons is unknown and those exchanges have not made any public announcement or comments as regards such refusal to integrate a utility service such as LN into the exchanges.
What can be the reason behind this exchange's actions not to integrate the Bitcoin lightning network into the services?

Reading through the comments of members of the forum on that topic may give you more insight as to why (LN) is avoided by services such as casinos and exchanges.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 01:25:16 PM

#18

Why not? I've made Bitcoin deposits to crypto casinos and betting sites in the past even without the Lightning Network. They're much more expensive, so why would I not take the opportunity to be able to send Bitcoin in a much cheaper way nowadays with the use of LN?

On the other hand, however, I also have a few altcoins in my wallet. I had a realization not so long ago that I should gamble with my altcoins more than with my Bitcoin. Bitcoin is for HODLing. But to those who are gambling with Bitcoin, the use of LN is definitely a better option.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 01:48:22 PM

#19

Quote from: Wind_FURY on April 19, 2022, 07:09:34 AM

Well that really depends on a cornucopia of things.

First of all, what would be my advantages, or better to say, what advantages would the gambling casino give me if I were to use lightning? If they change their fees and update them in such a way that it would be worth using then obviously I would use lightning.

However, should they keep fees as they are then I do not see the advantage for myself. Rather that would only be an advantage for the gambling casino owners who save on transaction fees and keep whatever they save while artifically inflating user fees.

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Re: Question for regular casino players. Will you use Lightning if available?

April 19, 2022, 03:11:38 PM

#20

From my POV as a user, well, I'd use it. Lightning implementation should change the fees to cheaper ones afaik, so ofc I'd use it if it was much cheaper than the original ones I'd use. But well, if not, I wouldn't necessarily shy away from it, but it wouldn't be my priority in being used since there'd be cheaper alternatives (in case casinos accept multiple cryptos, which is the case most of the time). But if casinos would still stay with the same fees EVEN with the lightning network implemented, then hard pass. They're basically saying you still need to pay more even if our system now costs less.

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