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Author Topic: Nitrogen $20 withdrawal fee  (Read 815 times)
Oilacris
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December 20, 2017, 04:46:36 PM
 #61


Imagine a company with superior customer service (ex. Costco).  Costco allows customers to return anything, in any condition for any reason.  They are the best in their industry.   Now, imagine if after all these years, they just did away with their return policy.  That would create triggers and certainly upset a lot of people.  In fact, many people may look for alternate shopping solely based on their decision to do away with their ongoing tough to beat return policy.  It would be a horrible business move and very comparable to what Nitrogen is doing.  For all the new money coming into the BTC gambling, they couldn't have picked a worse time to change their policy.  

The case in this is different, your Costco are not wasting so much money by accepting items that their customers return because of whatever reason while nitrogensports will lose so much money everyday if they continue to give free withdrawals, thousands of dollars daily. Don't forget about small players too who withdraw everytime they get .001btc on freeroll Cheesy

Did you even read what you just typed?
Of course Costco is wasting "so much money by accepting items."  They don't sell returned items.
So clearly Costo is losing money and biting the bullet, something Nitrogen needs to wake up and do as well!  


No they are not losing money, it is just like their items did not get bought in the first place. So my point is still the same, its just you can't understand what nitrogensports is done because you only look at one side of the issue. Let me ask you, are you willing to pay $20 for withdrawal your players make? If yes, you should create a gambling site and I will make a deposit of lets say 1btc and withdraw .001btc for 1000x and you will pay $20,000 for nothing. makes sense?

I know you live in the Philippines and things might be different over there, so I'll explain myself only one more time:
If company A spends $10 to manufacture an item, which is sold and then returned, company A loses $10 because company A can not sell that item. 
Your analogy "it is just like their items did not get bought in the first place" is entirely inaccurate.

Nitrogen needs to change their withdrawal policy or at least address the issue.   

why would they change their withdrawal policy?
you do not come to  a shop and say: "hey I think your price is unfair,you need to change your
price policies and also give me things for free"  Grin
you just go to a shop/casino that suits you instead and its the only way you can change their policies
since once they see that it results in profit or clientelle loss,they might change the policies themselves

They would really take into consideration if they would saw there are lots of people complaining.They would really make such actions which would really suit on user needs and preference on the majority because it would really mainly affect their business if people would decide to jump out and find another store.  Grin



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[15.00000000 BTC]


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December 20, 2017, 05:09:53 PM
 #62

Is nitrogensports holding bitcoincash still, or did they spend it for themselves? Each bitcoin cash coin is now worth $3500 each.  They are having a big party with their users coins.

They made off like bandits.  This is a shady casino as far as I'm concerned. 

You can verify for yourself that they haven´t sold the BCH so far.

Therefore it is still possible that they are going to do the right thing and distribute
the Bitcoin Cash balances to all users, who had a BTC balance at Nitrogensports
at the snapshot date.

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December 20, 2017, 05:26:07 PM
 #63

Is nitrogensports holding bitcoincash still, or did they spend it for themselves? Each bitcoin cash coin is now worth $3500 each.  They are having a big party with their users coins.

They made off like bandits.  This is a shady casino as far as I'm concerned. 

You can verify for yourself that they haven´t sold the BCH so far.

Therefore it is still possible that they are going to do the right thing and distribute
the Bitcoin Cash balances to all users, who had a BTC balance at Nitrogensports
at the snapshot date.


But how would they do this? By hand to look at all individual accounts that actually held bitcoin in their gambling wallets. It would be a tedious process and I do not think they have any automation in place to do this like other sites did before the fork for bitcoin gold happened.
They are short on man power as it is as you can see from their support staff when they have outages over the weekend (well they use to when I was there watching the chat room being hammered by messages about certain lines being down) and not able to get it sorted out in time before the matches start for certain players so to bet on those select games.
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December 21, 2017, 05:58:50 AM
 #64

Nitrogen can fix the high fees "issue" by enabling Segwit for their site. Bitcoin users will then naturally follow and use a Segwit enabled wallet like GreenAddress because it will make fees lower by 40% right away, adding to our savings.

As regular users, we should campaign for Segwit use. It is for the benefit of us all.


Segwit 2x is on again after they cancelled it.
Heard the news on it yesterday and thought it would of sparked up bitcoin's price after the hauling that bitcoin cash did to it. But unfortunately it didn't.

Segwit2x/btc1 was a scam. Is the new Segwit2x the one with the developer saying that they will enable replay protection this time? If yes, then it will hard fork and become another altcoin like Bitcoin Cash.

Plus the best engineers are working on Bitcoin, always remember that. The other "Bitcoin Xs" will never be as good as the original.  


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December 21, 2017, 05:25:24 PM
 #65

Due to huge surge in bitcoin price from last month , and number of tranx per day has been increased by 400x from last month that's why we need to pay high fees on each tranx , we can set low fees but it will never confirm , either we need to wait to someone to mine or using third party services.

Nitrogen can fix the high fees "issue" by enabling Segwit for their site. Bitcoin users will then naturally follow and use a Segwit enabled wallet like GreenAddress because it will make fees lower by 40% right away, adding to our savings.

As regular users, we should campaign for Segwit use. It is for the benefit of us all.

Nitrogen is working on this currently to reduce the tranx fees
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December 22, 2017, 06:59:51 AM
 #66

The more reason to have a Segwit enabled wallet for the users and the merchants. The demand for including your transactions in a block is becoming higher. With Segwit it increases the no. of transactions per block to approximately 8000. It will help more or less in lowering the fees.


Nitrogen is working on this currently to reduce the tranx fees

I believe Nitrogen, being the largest site in Bitcoin sports gambling, will influence the movement of other Bitcoin gambling sites to Segwit, reducing their fees back to cents.


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December 22, 2017, 09:48:37 AM
 #67

The more reason to have a Segwit enabled wallet for the users and the merchants. The demand for including your transactions in a block is becoming higher. With Segwit it increases the no. of transactions per block to approximately 8000. It will help more or less in lowering the fees.


Nitrogen is working on this currently to reduce the tranx fees

I believe Nitrogen, being the largest site in Bitcoin sports gambling, will influence the movement of other Bitcoin gambling sites to Segwit, reducing their fees back to cents.


Problem is people aren't yet implementing it and using it yet. That's the problem, a lot of users and services (such as Nitrogen and other gambling sites) aren't using segwit yet. That means if only one address is segwit in a transaction it still does not benefit from the advantages of segwit addresses. So that is the problem. I guess you are correct with the statement that if Nitrogen does shift to segwit addresses a lot of casinos will follow suit.
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December 23, 2017, 06:08:28 AM
 #68

That is why I believe that there is a need to educate the users about Segwit, and it should also come from the gambling sites themselves.

Instead of making all that profit from their users, the Bitcoin gambling industry should do their part in making the network and the community a better place.


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December 23, 2017, 08:50:49 AM
 #69

As many of you have mentioned, let's not forget all that bitcoin cash that Nitrogen is holding.

Nitrogen is making money from this new $20 withdrawal policy, that I am certain of.
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December 23, 2017, 02:24:40 PM
 #70

As many of you have mentioned, let's not forget all that bitcoin cash that Nitrogen is holding.

Nitrogen is making money from this new $20 withdrawal policy, that I am certain of.

That's true, they sometimes take a lot of time to even reply to our queries when it's about withdrawal part, and now this.
Doesn't losing on bets make anything to these guys that they have gone so "cheap" trying these tricks to earn a few more bucks?
They have jackpots already, why not use a part of that to send those transactions they are charging us for?
0.001 BTC means a lot when BTC was 20k, the value is now reduced to $14 but that's also not less, they should lower it down by at least 50%.
As well, what are they doing with our BCH atm? Free money for them?

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December 24, 2017, 03:32:00 AM
 #71

They do have one free withdrawal option per week and with the price of bitcoin going up ,expect the transaction charges to go up to,dealing with bitcoin for micro transactions is a bad idea now a days and all of the betting sites will face the same issue as they have to shell out transaction fees by themselves or to put that burden on the user ,which will have an impact on the customers dealing with bitcoin while gambling.

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December 24, 2017, 07:48:21 AM
 #72

What about customers who have been making daily withdrawals for the past 2 years?  They are going to turn away loyal customers over $20.
It's just not practical and since most of your remaining post was rambling, bottom line is I can not be the only one shocked by this new policy.
The current issue with bitcoin does not have anything to do with the sports book,every gambling site will be facing the same issue with the transaction fees,not only gambling sites but bitcoin exchanges and online wallets,so understand what the real issue is and nitrogen is already giving free withdrawal once every week for users,if you are not urgent wait for a week for free withdrawal.

 
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December 24, 2017, 08:43:23 AM
 #73

What about customers who have been making daily withdrawals for the past 2 years?  They are going to turn away loyal customers over $20.
It's just not practical and since most of your remaining post was rambling, bottom line is I can not be the only one shocked by this new policy.
The current issue with bitcoin does not have anything to do with the sports book,every gambling site will be facing the same issue with the transaction fees,not only gambling sites but bitcoin exchanges and online wallets,so understand what the real issue is and nitrogen is already giving free withdrawal once every week for users,if you are not urgent wait for a week for free withdrawal.

Well said mate, people should wait for the free withdrawal if they are able to hold on. If they are in hurry then there is no alternative other than paying the withdrawal fee. But nitrogen should consider the fact and should provide some relief to the old customer in order to retain them for longer time.
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December 24, 2017, 11:00:54 AM
 #74

Ouch. Tough to see such a reputable sportsbook going this route.  Embarrassed

Talk about riding this BTC wave of profit, and then sticking it to your loyal customers  Shocked

I wonder how much this will tarnish their "A" rating?

Time to seriously reevaluate my betting options cause my system won't work with this new policy.

Come on Nitrogen- wake up and realize this is bad for business!  Angry

Don't blame them. Blame the network congestion and failure to scale of Bitcoin, which has resulted in skyrocketing fees. Of course, they could subsidise withdrawal fees from their profits, but that would be bad  for the Bitcoin network and result in unnecessary transactions. By passing through this fee to customers, you can expect the customers to plan their withdrawals in a more rational manner.


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December 24, 2017, 11:25:12 AM
 #75

The new rules of withdrawal fee is ok for me , we do not blame their site because they only do this to compensate their processing our withdrawal in the blockchain. Also i think gamblers are not withdraw their money in daily or every other day because most of the time we used our money as capital in gambling. Like me i do withdrawal once a week or every other weeks.
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December 24, 2017, 12:35:56 PM
 #76

Is nitrogensports holding bitcoincash still, or did they spend it for themselves? Each bitcoin cash coin is now worth $3500 each.  They are having a big party with their users coins.

They made off like bandits.  This is a shady casino as far as I'm concerned.  

You can verify for yourself that they haven´t sold the BCH so far.

Therefore it is still possible that they are going to do the right thing and distribute
the Bitcoin Cash balances to all users, who had a BTC balance at Nitrogensports
at the snapshot date.

Coinbase tried to do the same (they refused to credit their users with BCH initially). But they were forced to reconsider that decision, after multiple lawsuits were filed against them in Miami. I am not sure whether Nitrogen is based, but if the American users complain against them, then they will be facing lawsuits in the American courts.
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December 24, 2017, 01:01:12 PM
 #77

20 USD is a really high fee for a withdrawal. I don't know how many other casinos are doing this but many that I know, like Bitcoinrush have put a minimum withdraw of 0.01 Btc and they pay the withdrawal fees, other casinos have lower fees like 0.0002 BTC when withdrawing less than 0.01 Btc and Nitrogen is the first one to put a fixed fee for the withdrawals. I hope this does not impact badly on their userbase.

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December 24, 2017, 01:12:10 PM
Last edit: December 24, 2017, 01:33:47 PM by Hell-raiser
 #78

Blame bitcoin network and insane high fee rates we currently have. This is our new reality - do you honestly think that any company will pay fees for you?

What about allowing users to withdraw via other payment methods and transaction vehicles? Litecoin seems to have pretty cheap transactions nowadays in comparison to other coins, and it may make sense after all to convert bitcoins to litecoins first and then go back to bitcoins if needed. Apart from that, some dice casinos don't allow to withdraw immediately on user's request but bundle many requests into one single transaction, thereby lowering their overall transaction costs.
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December 24, 2017, 04:26:38 PM
 #79

Nitrogen updated their withdrawal rules yesterday. The free withdrawals are now every 2 weeks and the fee is not fixed anymore. It's now based on what is the recommended fee at the moment. If I want to withdraw out from nitrogensports they'll charge me 0.002 for the fee almost $30.

Reference : https://nitrogensports.eu/blog/new-rules-concerning-bitcoin-network-fees/

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December 24, 2017, 06:38:58 PM
 #80

I still wonder how people Gamble unless they whales. It's $20 to deposit for fees and the same to withdraw s you behind $40 already. You have to make $40 profit just to break even. That just increases your chances of going bust and not enjoying yourself. I think it's why many casinos are be offering altcoins as a play option.

 
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