bustadice – Next Generation Dice

[mostkey]

Hi Bustadice. I heard that you have Segwit enabled for your wallets, which is good for your users. I am interested in how much do you pay in fees when your users withdraw their coins for your site? Is it cheaper with Segwit enabled?

Segwit readiness, making transaction fees lower when depositing and withdrawing from your site might be a good marketing tool. Plus it also encourages others to use Segwit. You not only help yourself, but also the whole Bitcoin community as well.

bustadice is a very nice gambling house. and they are always updating the system in order to give comfort to its users to stay comfortable doing gambling in bustadice. I think it's a good thing to do bustadice

[DARKANGEL6415]

Ok so i been trying to play on this new site and give it a fair chance.  I must say that i am not really a fan of the whole websites game feel. Maybe it is because i am not accustomed to this layout type. I must say the free faucet is a nice touch but why does the amount keep changing.  I will keep trying the site out and give updated opinion later on.

[Theb]

Ok so i been trying to play on this new site and give it a fair chance.  I must say that i am not really a fan of the whole websites game feel. Maybe it is because i am not accustomed to this layout type. I must say the free faucet is a nice touch but why does the amount keep changing.  I will keep trying the site out and give updated opinion later on.

Good to see  players like tmyou give a chance to a new gambling site. Some members here say terrible things because they don't feel the new User Interface or thinks it is inferior to what they are used to seeing. For me able to experience many dice sites I can say the difference always boils down to their website design and of course other promotions such as free faucets and lotteries.

[TheQuin]

I must say the free faucet is a nice touch but why does the amount keep changing.

The faucet is only there to allow people to try out the game free of risk. The amount decreases the more you use it as you should have had enough time to decide if you like the game and want to deposit and play.

[arallmuus]

Ok so i been trying to play on this new site and give it a fair chance.  I must say that i am not really a fan of the whole websites game feel. Maybe it is because i am not accustomed to this layout type. I must say the free faucet is a nice touch but why does the amount keep changing.  I will keep trying the site out and give updated opinion later on.

It goes down everytime after you claimed it. It is not really a big deal though it is only a faucet for the sake of testing the site. The interface is totally unique compared to the other site. It give some essence like playing in bustabit but this is some kinda dice game

Most people just dont like the the 'autobetting' but yeah there are some script ready to be used though so it is not big deal as well. This is atleast unlike the other dice site around here for sure

[jpcfan]

i love the bustadice site alot.


only problem is you started the site at the wrong time. website opened right when btc fees started to get hiigher and stay high


your site would be doing x10 better if it wasnt for the btc fees now



would it be hard to have 2-3 coins to play with there?


who knows how long the high btc fees will remain. but until it stops, bustadice isnt getting the attention it should

[trepxtz]

I noticed that there's a signature campaign going on, but I'm sure there's more that could be done to draw attention to the site and retain bettors. E.g. running promotions, adding more chat/social features, adding more coins (ltc, xmr, eth, etc.).

[jpcfan]

I noticed that there's a signature campaign going on, but I'm sure there's more that could be done to draw attention to the site and retain bettors. E.g. running promotions, adding more chat/social features, adding more coins (ltc, xmr, eth, etc.).

BTC fees is stopping all btc only dice sites


dice sites already have their whales so they are safe, but new dice sites that only offer btc uill have hard time making it for a few months

[sofi@]

Bustadice is really a good site I've tried playing it last night and I think this will going to be one of my favorite site and even if the price of bitcoin fluctuates bustadice was able to handle it since it has own token to use. I think its a good thing even there is a fee charged by bustadice when withdrawing mt coins still the value is fair enough.

[BTCevo]

i love the bustadice site alot.


only problem is you started the site at the wrong time. website opened right when btc fees started to get hiigher and stay high


your site would be doing x10 better if it wasnt for the btc fees now



would it be hard to have 2-3 coins to play with there?


who knows how long the high btc fees will remain. but until it stops, bustadice isnt getting the attention it should

Due to the current price, I do not think that they have a problem with a fee, price increase of course fee will. Why people can't accept that fee have related to the price and it is really correspond to each other. So if you or other people want a low fee then you accept that bitcoin price will stay at very low?

For now bustadice is getting many attention since there are big whale that turn out to hit their max profit so I think it just as same as bustabit, stay low but always have many wagered

[MinerHQ]

Due to the current price, I do not think that they have a problem with a fee, price increase of course fee will. Why people can't accept that fee have related to the price and it is really correspond to each other. So if you or other people want a low fee then you accept that bitcoin price will stay at very low?

I didn't understand what you're trying to say above because people who buy bitcoins now for them the fees are super high to send bitcoins unless you purchased your bitcoins long back then what you said may be applicable. But for the people who are buying now for gambling purpose, it won't make sense to pay such a high fee particularly if someone planning to gamble with around a couple of hundred dollars.

If you say fee should go along with the price then nowadays to send $20 BTC miners asking over $50 fee. Can you explain how this fee is linked to with the bitcoin price?

[Wind_FURY]

Hi Bustadice. I heard that you have Segwit enabled for your wallets, which is good for your users. I am interested in how much do you pay in fees when your users withdraw their coins for your site? Is it cheaper with Segwit enabled?

Segwit readiness, making transaction fees lower when depositing and withdrawing from your site might be a good marketing tool. Plus it also encourages others to use Segwit. You not only help yourself, but also the whole Bitcoin community as well.

bustadice is a very nice gambling house. and they are always updating the system in order to give comfort to its users to stay comfortable doing gambling in bustadice. I think it's a good thing to do bustadice

But how much are the fees when you withdraw from the site? How much cheaper are they compared to other sites that do not have Segwit enabled?

I would like to see solid proof that Segwit is making withdrawals cheaper for users. Thanks.

[devans]

Hi Bustadice. I heard that you have Segwit enabled for your wallets, which is good for your users. I am interested in how much do you pay in fees when your users withdraw their coins for your site? Is it cheaper with Segwit enabled?

Segwit readiness, making transaction fees lower when depositing and withdrawing from your site might be a good marketing tool. Plus it also encourages others to use Segwit. You not only help yourself, but also the whole Bitcoin community as well.

We process withdrawals at cost, so the fee we charge is dynamic just like transaction fees are. Right now, for example, the fee for an instant withdrawal is 717.24 bits and 141.78 bits for a batched withdrawal. To account for the marginal cost of consolidating an additional deposit, a fee is also charged for each deposit (currently 59.80 bits).

Because spending from a SegWit address takes up less block space than spending from a legacy address, a lower fee is required. We pass those savings on to the user, so SegWit does indeed lower the cost of withdrawing from bustadice.

Spending to a SegWit address is not cheaper than sending to a legacy address, though, so SegWit doesn't actually lower the cost of depositing.

[xYakult]

Sorry if this question has been already asked by someone but why is there a deposit fee? This is the first site that have deposit fee AFAIK. I'd like to know the answer in simple terms please

[TheQuin]

Sorry if this question has been already asked by someone but why is there a deposit fee? This is the first site that have deposit fee AFAIK. I'd like to know the answer in simple terms please

When you deposit you receive an individual deposit address, that deposit along with all the others, then needs to be swept into a central wallet to be stored. That needs another transaction fee to be paid. It can be argued that charging a deposit fee is a fairer way to spread the cost than just charging extra on withdrawals to cover these sweeping fee costs as many other sites do. So this way, for example, someone who makes five small deposits will pay five times as much as someone you deposits the same amount in one transaction and someone who withdraws often isn't paying for it.

As for other sites not in the gambling space localbitcoins starting doing the same a while back.

[vintages]

i love the bustadice site alot.


only problem is you started the site at the wrong time. website opened right when btc fees started to get hiigher and stay high


your site would be doing x10 better if it wasnt for the btc fees now



would it be hard to have 2-3 coins to play with there?


who knows how long the high btc fees will remain. but until it stops, bustadice isnt getting the attention it should

Yeah, I agree with you. The time when bustadice was created  was  about the time when  BTC price and transaction fee is increasing, but not withstanding, I believe  Bustadice can stand the test of time. Because the site is Segwit prepared  which helps in better and cheaper transaction. The only problem that may be encountered is if users whom are withdrawing from Bustadice knows and make use of Segwit   for better transaction because not every players makes use of Segwit or even know it exits.

[Wind_FURY]

Hi Bustadice. I heard that you have Segwit enabled for your wallets, which is good for your users. I am interested in how much do you pay in fees when your users withdraw their coins for your site? Is it cheaper with Segwit enabled?

Segwit readiness, making transaction fees lower when depositing and withdrawing from your site might be a good marketing tool. Plus it also encourages others to use Segwit. You not only help yourself, but also the whole Bitcoin community as well.

We process withdrawals at cost, so the fee we charge is dynamic just like transaction fees are. Right now, for example, the fee for an instant withdrawal is 717.24 bits and 141.78 bits for a batched withdrawal. To account for the marginal cost of consolidating an additional deposit, a fee is also charged for each deposit (currently 59.80 bits).

Because spending from a SegWit address takes up less block space than spending from a legacy address, a lower fee is required. We pass those savings on to the user, so SegWit does indeed lower the cost of withdrawing from bustadice.

Spending to a SegWit address is not cheaper than sending to a legacy address, though, so SegWit doesn't actually lower the cost of depositing.

May I ask how much lower the fees are when users withdraw using Bustadice's Segwit enabled address compared to a legacy address, if you have used it in the past.

Because from the feedback I had from Yolodice, they were saying that the "savings" they are having by using Segwit is only 30% and ethan_nx expressed this as "close to nothing".

Would you say the reduction in fees from using Segwit is close to nothing?

I am not saying ethan_nx is wrong or biased towards other solutions like accepting Bitcoin Cash, but I want to know each casino's experience.

[Wind_FURY]

Thanks for the detailed reply. But what if everyone in the network started using Segwit? Do you believe that would be enough in slashing the unconfirmed transactions down under 10,000?

I am not sure if this is correct but The Hackernoon had a blog that said Segwit blocks would theoretically have 8000 transactions per block. I believe that's enough to keep the mempool in a manageable size over time, including the fact that there are "bad actors" spamming the network.

[TheQuin]

Thanks for the detailed reply. But what if everyone in the network started using Segwit? Do you believe that would be enough in slashing the unconfirmed transactions down under 10,000?

A Segwit transaction is weighted ~30-40% less than a non-Segwit transaction dependant on the number of inputs. So if every transaction was a Segwit one then ~30-40% more transactions would be processed. The unpredictable part is demand, how many transactions are sent. That is really limited by the cost, as it gets more expensive more people choose not to send transactions, use another coin or just not do it. So my theory is that the market has found the level of transaction fee people are prepared to pay and Segwit adoption will result in more transactions but not lower fees.

[Samarkand]

... So my theory is that the market has found the level of transaction fee people are prepared to pay and Segwit adoption will result in more transactions but not lower fees.

I agree that we probably won´t see lower fees even if SegWit adoption increases
substantially. In a way this isn´t even a bad development, because the block reward
is going to become less and less relevant for the miners over time, which increases the importance
of the creation of a competitive fee market.

I would guess that transaction fees will be +50$ per transaction after the next block reward halving
in 2020. Small transactions will hopefully happen on 2nd layer solutions like the Lightning Network by then.