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Lucky7btc (OP)
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May 26, 2017, 04:00:06 PM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
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Ayers
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May 26, 2017, 04:08:01 PM
Last edit: May 27, 2017, 04:11:34 PM by Ayers |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
they don't care i think but i know for sure that these service like exchange and casino have special deals with miners and they can have fast confirmations with very low fee, like 20k satoshi, but anyway when you cash out you have still your bitcoin, just don't sell if the value dropped at that moment, and sell again when it go high |
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craked5
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May 26, 2017, 04:39:17 PM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
Hmm.... i don't think it will happen. The fees are made in btc. The price of btc is irrelevance for miners. W3ll no let me rephrase: the price of btc isn't what will determine if your tx goes through or not. Your tx will be accepted if you pay at least as the average suggests. If the casino put a fee like this then btc could drop to 1$ your fee would still be on average. |
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FrueGreads
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May 26, 2017, 05:02:05 PM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
The price can go up as well, so I don't think that is the important question here. If a casino pays the fees, I do think that they must pay enough so that the transaction is processed in a decent time. BTC price is always changing so they are not responsible by that, but they should be responsible for paying low fees and making you wait to much time I think. |
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iram3130
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May 26, 2017, 05:15:52 PM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
The price can go up as well, so I don't think that is the important question here. If a casino pays the fees, I do think that they must pay enough so that the transaction is processed in a decent time. BTC price is always changing so they are not responsible by that, but they should be responsible for paying low fees and making you wait to much time I think. Yes, don't forget that possibility is also true. So your argument does not hold true. Will you return whether the price increased.? Bitcoin price is unpredictable and fluctuations are too high right now so anything can happen. |
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Catmony
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May 26, 2017, 05:22:20 PM |
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They should be but there is no way to punish them or ask refund from them in situation like that. Usually transaction with low fee get dropped from mempool and some get confirmation after a day or two by which price can drop significantly like it have in past 24 hour.
Just play in casino that keep their fee policy updated.
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JasonXG
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May 26, 2017, 05:55:10 PM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
Not really. Such is the nature of bitcoin. If I purchase something from you for $20 and it takes 5 days to get to me. Say a shirt or whatever . The price goes to $32 I cannot ask for my bitcoin back same as if it was worth $12 afterwards you cannot ask me to pay more. The deal is the deal at the time of agreement. If you withdraw out of s casino and the value doubles is it fair the casino asks for half of it back ? Nope !! Its the nature of bitcoin. But its still a good topic to bring up though. |
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Skarner21
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May 26, 2017, 06:18:45 PM |
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I think they should change the policy about the fee in some gambling casino if thats the case..
Like other casino has manual change the fee or they are choices to choose if what the fee we can pay for faster transaction or slow transaction..
The same as in yolodice.. receiving my funds in yolodice it takes few minutes to get confirm base in my experience..
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Make crypto as your bank.
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Lucky7btc (OP)
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May 26, 2017, 07:48:24 PM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
Not really. Such is the nature of bitcoin. If I purchase something from you for $20 and it takes 5 days to get to me. Say a shirt or whatever . The price goes to $32 I cannot ask for my bitcoin back same as if it was worth $12 afterwards you cannot ask me to pay more. The deal is the deal at the time of agreement. If you withdraw out of s casino and the value doubles is it fair the casino asks for half of it back ? Nope !! Its the nature of bitcoin. But its still a good topic to bring up though. So if a casino sends and no confirmation for over 5 days the price of btc goes from 2800 to 2000. You don't see a problem with that? How about this then. You loan me 1 btc and i'll give it back to you once BTC drops below $1000 |
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spngebob
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May 26, 2017, 10:15:00 PM |
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No. Before you deposit in any casino you can always ask how much fee they pay on withdrawal and you can decide whether you will deposit and play.
Anyway, you are worried because you have to wait for day or two for tx confirmation, but you are not worried that you will probably lose 98 out of 100 times in casino and you will lose in long run?
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klf
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May 26, 2017, 11:27:12 PM |
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Casino owners are not responsible because you might have already accepted their terms and condition before depositing your money. Also, some casinos provide you with an option to pay the higher fee to get faster withdrawals but sometimes even we pay that highest fee it takes a couple of hours to get the coins. For these delays casino owners not responsible.
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LLec
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May 27, 2017, 03:54:55 AM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
they don't care i thinl but i know for sure that these service lik exchange and casino have special deals with miners and they can have fast confirmations with very low fee, like 20k satoshi, but anyway when you cash out you have still your bitcoin, just don't sell if the value dropped at that moment, and sell again when it go high Then can you explain what happened with DirectBet.Eu and why they felt they needed to shutdown their operation? That would be the sole reason they did it because all those free sends after their customer's bets have settled was too much for them to bear the brunt of the ever increasing fee's the miners were demanding to have their transactions to complete and confirm at a reasonable amount of time. That being within an hour or two and not prolong to 24-48 hours. |
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Trayber
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May 27, 2017, 04:12:32 AM |
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Lucky youre a dumbass if you play somewhere that dont send appropriate fees for todays miners. But since you play at shithole casinos now cant feel sorry for you
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emberbekas
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May 27, 2017, 04:23:05 AM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
They do not have to be responsible because when casino doesn't add enough fees there's a chance for bitcoin price to move up a lot too. One thing they have to do is to change the policy related to fees so that our transaction will get confirmation in a proper time. |
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zupdawg
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May 27, 2017, 04:28:46 AM |
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for me it depends, if the casino charges your withdrawal for the fees then they should send it with that fee so it will be confirmed faster than others, but still i dont think they should be responsible for the price movement, price could go up and down. the question is, are you will to refund some coins if the price spikes?
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jamyr
Sr. Member
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<------
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May 27, 2017, 04:36:22 AM |
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Most casinos i have played with has several fee option. Just choose the highest so there wont be a problem.
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timerland
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May 27, 2017, 04:45:19 AM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
No and i am pretty sure that most of the casinos have clauses in their ToS that basically lets them get away with this sort of thing. However you should always avoid casinos that are known to pay little fees compared to the current recommended fees just to save some satoshis on their part, not only is it a hassle to deal with them it also demonstrates that they don't care about their customers. On Bitsler and other casinos now they allow you to choose your own fees, whether high, low or medium. If that's the case with your casino and you chose medium/low fees because it's your own choice. But if you weren't offered a choice, or chose high and the transaction still didn't confirm, try arguing with the admin/co-admins on the site first. Some of the more reputable ones might give you a bonus on your withdrawal if you asked them. |
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Humanxlemming
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May 27, 2017, 04:45:58 AM |
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Most casinos i have played with has several fee option. Just choose the highest so there wont be a problem.
Yeah why not just always pick the highest fees (but as what i expereinces yesterday i withdraw and choose the highest fees but in the meantime as of now it's not still confirmed). So all the casino's owner doesn't seems care becuase it's the blockchain problem not the all casino's owner |
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findingthemoon
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May 27, 2017, 04:47:29 AM |
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If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?
You are gambling in bitcoin not in US$ so they have no responsibility over the price of bitcoin. It is also up to you to choose a company that either pays the right fees or allows you to choose the option to do so. |
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frowsiter
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May 27, 2017, 04:54:52 AM |
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You can still get your claimed amount of btc with the same price. If price of btc is dropping then you will receive higher amount of btc. You always have holding option for bitcoin. Gradually you can have more valued bitcoin in terms of your local currency. Also, you can always try cashing out in higher amount so that fees will be nothing up front of your transacted amount. The transaction will also get added value due to price difference between bitcoin and local currency.
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