Betcoin.ag Default Currency Change from BTC to EUR or USD - Feedback Requested

With the fluctuation and eventual overall rise of BTC, it has been proposed by members and staff to make the default currency of Betcoin.ag EUR or USD instead of BTC

With the fluctuation and eventual overall rise of BTC, it has been proposed by members and staff to make the default currency of Betcoin.ag EUR or USD instead of BTC. All deposits and withdrawals would still remain in BTC, LTC, or ETH.

This change has been suggested for a few reasons including but not limited to:

1) As BTC goes up in value, table minimums also go up significantly including poker, blackjack, slots, rake caps and all games. We want to keep a very low table minimum to enable many players to enjoy Betcoin.ag.

2) New players and some old are often confused by the lack of conversion.

3) The competitive rake caps increase and decrease with fluctuation.

4) We want to keep some stability and uniformity with the base currency.

5) Also proposed is to make the currency 1/10,000 of a bitcoin instead of 1/1,000 (mbtc) of a bitcoin which it is now.

Bankroll would be in EUR or USD. You deposit in BTC, ETH, LTC and it is converted to EUR or USD. You play in EUR or USD and then withdraw BTC, ETH or LTC.

At this stage, we are just sharing thoughts, feedback and getting your thoughts, feedback and reaction and we thank you.

250 Thank You Freeroll Ticket

We need your feedback and thoughts on this and will be giving away 10, 250 Thank You Freeroll tickets for the most thoughtful answers by Monday, 5th June 2017 at 8pm EST. We thank you for continuing to make Betcoin.ag better and look forward to your comments.

 Filed under: General, Bitcoin, EUR, USD, BTC

110 Comments

seanrc: always improving
Wed, 05/31/2017 - 23:38

Always making things better, Personally dont like change at first but usually grows on you, However I would suggest offering both still the old btc format or USD/EUR maybe even both together btc/usd/eur conversion. Look forward to seeing the updates Stay Suited Betcoin

SickMetaGame: Hmm...
Wed, 05/31/2017 - 23:45

One of the main reasons why to gamble with bitcoin is the fact that you can gain extra monetary value with the price fluctuations. Majority of the times a $300 WPN tournament win paid out in bitcoin is 3-10% higher by following day, if not more and over the course of last couple of years bitcoin been on a steady incline which means that as long as you are winning then your bankroll is winning extra on the side.

In my opinion room should not be converted into FIAT currency but instead the solution is to make cash tables with USD values and have it convert your buy in when you are sitting down, the same principle as there is for WPN tournaments right now.

SMG

SickMetaGame: Same time...
Wed, 05/31/2017 - 23:47

Leaving tables where players can play directly for bitcoin on the side as well not removing them.

SMG

greenbacks: as one of the only good
Wed, 05/31/2017 - 23:49

as one of the only good bitcoin poker sites, i think you are doing yourself a disservice by changing this

People are here because they want to spend BTC, if they cant figure out basic math... thats on them. dont change your policy because of some peoples incompetence

cjmoles: No...just no. Maybe some
Thu, 06/01/2017 - 00:02

No...just no. Maybe some interface change would help the noobs understand the correlation between the two....but I don't use bitcoin on other sites if they convert it to dollars....I want my coin to grow wherever it rests. If I deposit BTC and BTC doubles while my coin is here, I want it to be double when I withdraw it too....right? I don't use bitcoin on the other WPN skins for exactly that reason....don't change it....it wont help....there are too many other fiat based sites. It's hard enough converting dollars to bitcoin....and to just have it converted right back to dollars is ridiculous.

lifewithmikey: I think that sounds like a
Thu, 06/01/2017 - 00:27

I think that sounds like a great idea. The main reason is for issues like the deposits not being fully confirmed and people getting extra btc in their account. Then when it was sorted out and those chips were taken out of their account the 40% increase in the price of btc was not taken into consideration which meant many of us lost huge amounts of money equity and betcoin got to pocket it all.

Oldstuff: so is the USD in my account rise and fall as BTC does?
Thu, 06/01/2017 - 00:30

if not, then no thanks. I might as well play at ACR then.

jinxxxd: ACR is single currency , a
Fri, 06/02/2017 - 09:42

ACR is single currency , a dual currency model allows you to maintain bitcoin as your account balance. It just coverts to a centralized unit at the time of buy in to a tourney or cash game. Check into it.

cjmoles: So, this how it would look
Thu, 06/01/2017 - 00:38

So, this how it would look from my end. I would convert dollars to BTC at coinbase (fees) to deposit on betcoin (fees). Betcoin would convert the BTC back to dollars to play. I withdraw my 'dollars when I am done playing and betcoin converts the dollars back to BTC for withdrawal(fees)....I send the BTC to coinbase and then coinbase converts the BTC back to dollars (fees) so that I can transfer them back to my bank (fees). Fees, fees, fees....-EV...bad ROI completely! Sux! Crazy....don't do it!

DoubloonMike: Keep all the games in Bitcoin
Thu, 06/01/2017 - 00:38

Keep all the games in Bitcoin imo. There are so many sites that accept BTC deposits and convert it to fiat then do the process in reverse for withdrawals. This is NOT why people are playing on Betcoin. If necessary, adjust the game minimum limits/blinds/rake down when necessary...heck, you have 100,000,000 satoshi to play with inside each bitcoin, so there's no reason to bring fiat currency into the picture if this is a concern.

Oldstuff: ^^THIS^^
Thu, 06/01/2017 - 00:42

I mean it.

spaced: old stuff
Thu, 06/01/2017 - 00:49

I said the exact same thing in the first post I made which was deleted. It's clear you guys need to leave things as is and I would appreciate a ticket for being the first to say the obvious that you don't understand clearly

jcmillionman: Not Broken Don't Fix
Thu, 06/01/2017 - 01:03

I had a feeling the day would come that this scenario would be presented. Bitcoin price will rise to highs many of you can't imagine at this moment, but I know. Betcoin.ag is completely fine when it comes to the currency methods used for poker and casino/sports betting. Would it be possible to add the conversion feature to betcoin or upgrade features that implement smaller increments bets for casino/sports and just add feature to show what we are buying into poker wise. Depositing is tough at this price rise, just take the ying/yang aka balance and enjoy the withdrawals, please if my opinion hold any weight consider upgrading as stated above not changing the whole system.

BigThangz: horrible idea
Thu, 06/01/2017 - 01:52

Horrible idea this Is BETCOIN not BETUSD or BETEUROTRASH.......other sites do thiswith bitcoin and its complete dog shit....i get butt fucked on a weekly basis cashing out with btc on intertops. If people are to broke to play and have to cry about it maybe they should call gambling rehab instead of cryin to the casino lower your limits......if all your degens wont play cause min bet to pricey change your min price on your program don't change to usd......chaning to USD is dumbest thing u could do so i imagine it be changed next week

suxxx: it will be like every other site on the web
Thu, 06/01/2017 - 02:02

i came here because i liked how i could actually use btc straight up and not convert.
i also would sugest if you have your mind set please make withdraws like 5 mins max as usual for btc and such.
no one wants to wait 3 to possibly 18 days for their money.
and i truly think you shouldnt mes with it. its not broke dont fix it. teambetcoin!

suxxx: it will be like every other site on the web
Thu, 06/01/2017 - 02:02

i came here because i liked how i could actually use btc straight up and not convert.
i also would sugest if you have your mind set please make withdraws like 5 mins max as usual for btc and such.
no one wants to wait 3 to possibly 18 days for their money.
and i truly think you shouldnt mes with it. its not broke dont fix it. teambetcoin!

valjean: I too
Thu, 06/01/2017 - 02:06

...agree with several of the comments that this should not change. If maintaining minimum amounts for micro players is a concern, you can allow balances to be shown in mBTC, uBTC and Satoshi. (If we get that high of a price to justify a change to that.)

sgolder06: Ditto
Thu, 06/01/2017 - 02:18

Keep as is, or lower your minimums. You asked for the community's thoughts, and it's quite clear which way everyone strongly prefers.

plo8monster: wow so much passion
Thu, 06/01/2017 - 02:36

ok guys it seems you fear we will accept your crypto deposit and immediately change it to USD and then you will lose purchase power when bitcoin goes up in value.
My understanding is that ONLY:
....the buyins change currency for example the Dailycoin would be 50$ instead of 50mBtc keeping cost for players at a stable amount ...your 50$ buyin will be charged at current rate for btc, just the same as wpn mtts do currently,,,
Your bankroll remains in mbtc and fluctuates with btc prices .... same as it always has
......only buyins will be changed .... Result: everything you buy into will be in usd$

the ring game minimum would become .01/02 cents ....and 1mbtc/2mbtc would be 1$/2$
Casino tables games would all become 1$

My understanding is your bankroll remains mBtc AND FLUCTUATES ACCORDINGLY.

The purpose is not to reep the rewards you earn by using crypto. we have no intention of hijacking your rewards ... Your account balances will remain at bitcoin values. That balance will be notated in both mbtc and USD$ and that conversion rates will be applied at buy in ...

It is my understanding that only buyins will be effected, ...... and this is being done to reduce minimum bets .......and keep that minimum at a stable amount.

Hopefully staff will chime in here and calm the concerns...

~~plo8

jinxxxd: You have explained this very
Fri, 06/02/2017 - 09:14

You have explained this very well. After the panic subsides I hope everyone will read this with an open mind and then they will have a better understanding of the proposal This is the only solution that would ensure equal pay for play with the same BTC benefits as before.

Tribet: with being in USD and doing
Sun, 06/04/2017 - 05:09

with being in USD and doing it to stabilize the buy. would that also mean the entire WPN network could now play these games?
i see where fixing the buy in would help a large group of players, but don't want to see bitcoin games go network.

plo8monster: all that being said there is also another simple solution
Thu, 06/01/2017 - 02:43

if we make 1 bitcoin - 10.000chips ...by moving the decimal point over one spot ...that would work ...but still would be subject to the swings of bitcoin ....( but 1/10th as drastic )

and i like this idea just about equally with dual currency ... seems simpler to me..

~~plo8

jinxxxd: I'd prefer DUAL currency
Fri, 06/02/2017 - 09:35

I'd prefer DUAL currency myself. It makes perfect sense to me. If everyone would just take a deep breath and become more familiar with the concept, I think they would agree. Maybe it would help to stick with the dual currency model and just rename the units of buyin to "chips" or "units" or anything but USD.

ipath: Betcoin is unique in this way
Thu, 06/01/2017 - 03:09

Betcoin is unique in this way. I don't think it should be changed - and is part of the reason to choose this skin over the many others that already have those options. You might have to change your name to BetEURUSD if you decide to go that route 😉

HowItdo: Terrible idea
Thu, 06/01/2017 - 03:39

There are many problems with it but I'll cite my biggest logistic problem.

How would the daily coin work. Would the guarantee be in BTC but the buyin be in USD at $50 dollars it would have trouble reaching the guarantee every week which would be bad for the site, but also the surprise box tickets would lower in value which would be taking value away from the players that raked tons for the site, but saved their ticket for whatever reason.

If a change is made I think:
1) The daily coin should be left at 50mBTC at 1btc guarantee

2) change the cash games to USD or change the chips to 1/10,000 of a btc

3) lower rake to make it more competitive with other sites

4) Keep balances in BTC

michigan1: :)
Thu, 06/01/2017 - 03:54

this i believe doing this would be bad as betcoin.ag is one of the best excuse me THE BEST bitcoin poker room there is and if you change it you are just gonna be like the rest of wpn...It seems betcoin is getting away from all the stuff that made it great in the first place.Stay the way you are betcoin thats what makes you you!!!

michigan1: "it has been proposed by
Thu, 06/01/2017 - 04:09

"it has been proposed by members" I dont believe that statment by betcoin rings true as you see the members dont want this.

Marukh666: agree with the change
Thu, 06/01/2017 - 04:45

WHAT A GREAT IDEA...
i really like this change of betcoin.ag...bcz the fluctuation with stacking is effected by rising btc price..and this change would be maintain player stacking rate..

jinxxxd: Someone gets it!!!
Fri, 06/02/2017 - 09:05

Someone gets it!!!

XBTCOLLECTOR: NOT a good idea. Generally,
Thu, 06/01/2017 - 04:49

NOT a good idea. Generally, the players would lose a lot of money already in the conversions back and forth (deposit/withdrawal), because the rate would always be bad for the player. Storing the bankroll in inflationary FIAT is also very negative for the players as they cannot enjoy the price increase of the cryptocurrencies. If you are still implementing this, please at least keep options to store all the money in cryptocurrencies and also option to play using them, maybe add USD games as an additional option, but DO NOT replace BTC games.

Angle4run: btc changing to usd+euro
Thu, 06/01/2017 - 05:02

Good thinking but actually bad idea ...because Bitcoin are made for betcoin..

daffyD: I don't think its such an
Thu, 06/01/2017 - 05:07

I don't think its such an inspired idea..one of the attraction's is the possibility of gaining bitcoins if as they increase in value..I don't think the conversion is such a problem as long as the interface is showing consistently..also playing ring games in bitcoins gives such a boost

wishiswish: not really good
Thu, 06/01/2017 - 05:15

i mean to say you are not doing bad change..But actually the world most populer currency are attach to the most popular betting sit BETCOIN.ag, so my opinion is that remain the old procedure..as you see in above comments every one want dont change.

joicypoltas: love bitcoin like betcoin
Thu, 06/01/2017 - 05:30

I love bitcoin but not badly effected with that change because deposit and withdrawal are still in bitcoin..

muck-it: change it
Thu, 06/01/2017 - 05:37

If people can't grasp the usd idea, just change 1 btc to equal 10,000 chips for now, and just adjust accordingly in the future.

shandefoye: 60% agree and 40 disagreed
Thu, 06/01/2017 - 06:00

My respect is for you betcoin.ag because you are not doing this for effected members.but if betcoin players does,nt like that change so keep respect them like always before...
So iam 60% whit the changing and 40% with the players who does'nt like that change.

BTCNomNomNom: This would essentially make
Thu, 06/01/2017 - 07:21

This would essentially make betcoin the same as any wpn skin (acr, BCP, true etc.) In terms of having btc deposits and withdrawals, but converting over to a fiat currency. I could understand the reasoning behind this but it would be a mistake imo.

I personally would just play on another wpn skin. The draw of betcoin is playing with btc. It's like a gamble itself. Obviously people love this recently with the price surge but it works both ways.

I would guess you would alienate some players from this change and i would think it they would be a net loss of players overall.

ccardio: Negative
Thu, 06/01/2017 - 07:41

I do not want this change I play here only because bankroll is kept in BTC, not USD, there are many other sites that have option to keep bankroll in USD. I advertise this site to others for that reason as well, this is bad change, please do not make this change.

Yippiebeans: I think having BTC as the
Thu, 06/01/2017 - 09:04

I think having BTC as the default currency is kinda cool and what gives Betcoin its point of difference.

IH8duke: Im concerned a major change
Thu, 06/01/2017 - 14:11

Im concerned a major change like this would drive too many away. I get its a difficult issue, but I would leave it as it is. Its the one thing that separates Betcoin in the market.

StareYouDown: What sickmetagame is correct
Thu, 06/01/2017 - 14:25

What sickmetagame is correct kind of what i wanted to say :) and alot other comments, but i'm sure betcoin will do what's best hopefully ! we are BETCOIN! #OneLove

zzzzzz: Solution
Thu, 06/01/2017 - 15:31

Change BUY-IN to USD
Dual Display Balance
Cash-in and Cash-out are crypto (BTC, LTC, ETH).

http://recordit.co/3Tuu0E5j6n <- example of dual display balance

/mic drop

jinxxxd: READ THIS PEEPS!!!!!
Fri, 06/02/2017 - 09:48

READ THIS PEEPS!!!!!

oriole: On one hand it was something
Thu, 06/01/2017 - 15:51

On one hand it was something that made betcoin different from other poker rooms, but I can see why you decided to change the default currency. I think it's the right move in the long run, because the buy-ins are getting pretty expensive and other reasons that you already mentioned. I hope that there will still be 250 mbtc freeroll and bitcoinpromocode freeroll series.

cutemary: The reason I joined Betcoin
Thu, 06/01/2017 - 16:58

The reason I joined Betcoin when you first started was I could make my small deposits and get a lot of play for my small amounts I can afford to deposit. Now with Bitcoin being so expensive, that is no longer the case. I am a small player so I guess lowering some of the buy ins to reflect the new astronomical Bitcoin prices would help us guppies..lol.

However I like playing in Bitcoin and I agree that it gives Betcoin a distinct difference from many other Bitcoin sites that convert our money. I also dont trust the conversion rates they use with this much volatility in Bitcoin prices.

Whatever you decide, I am sure it will be O.K. and I appreciate you opening it up for discussion with your customers before a decision is made. You really do care what yor customers want!

Azazel333: If there is going to be a
Thu, 06/01/2017 - 17:34

If there is going to be a change I'd be in favor of increasing 1 btc to 10,000 chips.

ThemBones: I think one of the nicest
Fri, 06/02/2017 - 01:06

I think one of the nicest here is that you can gamble while you gamble by leaving your roll in crypto. An option to do either wouldn't be bad, but I'm not a fan of a forced roll conversion.

Blindme: I understand why you are
Fri, 06/02/2017 - 02:14

I understand why you are thinking this but the only reason I would venture down this road,is if you are looking to be a skin of a much bigger site that brings in more players and tournies for the current customer base otherwise its making a issue where you do not need one.
When some one deposits here they know they are looking at 24 hours tops for a withdrawal and knowing that they should expect some fluctuation well waiting. That said,I think the energy should be put towards speeding transactions up by creating a wallet or cutting a deal with a wallet that can make transfers a little smoother for both sides.
This is where you are lacking,not in the conversion space!

1) As BTC goes up in value, table minimums also go up significantly including poker, blackjack, slots, rake caps and all games. We want to keep a very low table minimum to enable many players to enjoy Betcoin.ag.

Players move up and down the limits to compensate for this issue already,its not a big deal and does not drive traffic down. Again the only reason traffic may dip is because players think about the withdrawal times before depositing. I know am not the only player that likes to jump around and it often has me weary of depositing here,knowing that I could lose out in making btc.

2) New players and some old are often confused by the lack of conversion.

If players are confused at the conversion they are going to be even more confused adding this feature. Being Canadian I have to convert either way,so this really seems like a issue that is not going to be a big problem long term. Chat mods can help anyone confused on the issues for the most part,its a simple issue.

3) The competitive rake caps increase and decrease with fluctuation.

Part of doing business,players can step down a limit if they think the rake is to high and adjust that way. Bitcoin is going to bounce and protecting players will end up gauging the sites profit line. May seem good for the players but when a site is forced to close shop,its a losing venture for both sides. We can live with this issue.

4) We want to keep some stability and uniformity with the base currency.

This may seem like a good idea but it is not. One group sees this as anti bitcoin and the other will never be grateful for the protection you are giving. It looks to me like this is more ground work for connecting to a skin than any other issue and moving the players towards adoption. Otherwise I think you can point the issue towards money in and out and you will see a larger uptick in play and rake.

****Please create a lower min. bet on the dice as well, .001 is a bit rich for a cheapskate like myself. Maybe I am doing it wrong because I do recall being able to do this at a lower limit a few months back but could not find the right dice format to achieve this.

Think most here are on the same page on the issue.

Mentat: Freeposting
Fri, 06/02/2017 - 02:54

Freeposting

Mentat: again
Tue, 10/31/2017 - 21:40

again

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