A Q for Bitcoin gamblers. Are you affected by high transaction fees?

[Wind_FURY]

I asked the same question for the Bitcoin casino representatives here, https://bitcointalk.org/index.php?topic=2595617.0

But I did not get many, or any, answers from them. Hahaha. Maybe they do not want to admit it, but of course it affects them and most importantly also you!

First I want to get some feed back from you, the users. How negatively affected are you by the high fees in the Bitcoin network? Does it make you stop gambling?

The good news is there is a solution for that problem. It is using Segwit! Let us campaign and start asking our favorite gambling sites to have Segwit enabled and implemented.

For the users, my advice would be to stop using Blockchain.info and replace it with GreenAddress.it. If you are using a mobile wallet, use Samourai. If you want to make a Segwit enabled wallet in Electrum with the standard "3 addresses" then follow these steps

Generate a BIP39, 12 words seed on https://iancoleman.io/bip39/, you can also use it offline for more security.

On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.

On derivation path path use: m/49'/0'/0'/0

Easy! Tell your friends to do the same.

[ralle14]

The fees are slightly affecting me it reduces my total profit/bankroll by a small percentage(2%-5% depending on how much bitcoin I want to gamble). Some casinos that I use don't charge for fees which is nice but I only withdraw my funds once or twice if i'm lucky to double my money. If the fees won't stop increasing I have no choice but to use altcoin.

[armansolis593]

Yes its hurting me to gamble because my funds at stock out of nowhere if i send a low fee but i pay with high fee it will double the amount of money i want to play, im not a big time gambler that spend a lot of bitcoin per transaction and not affected with the high fees.

[biskitop]

I will not be affected by large transactions, or small transactions. Because I do not gamble online, and never use bitcoin when betting.

[ethereumhunter]

I think for gambler that use bitcoin as the bet is really affected because of the fees too high but for me, I don't use bitcoin as for bet so I don't think that the fees affected to me. I like to use altcoin to place a bet because the fee is not too high and I can buy a big amount to place a bet on the games.

[warwar]

I think for gambler that use bitcoin as the bet is really affected because of the fees too high but for me, I don't use bitcoin as for bet so I don't think that the fees affected to me. I like to use altcoin to place a bet because the fee is not too high and I can buy a big amount to place a bet on the games.

Altcoin is really the best alternative to fulfill your gambling desires because it has a low transaction fees and also faster than the bitcoin right now but still now it is only few that is accepting altcoin as a bet in gambling mostly now is really bitcoin but it is getting increasing. As a gambler but not really into gambling and not addicted to it but used to play sometimes i do really affected with the big fees because everytime you play is mostly of your bet is going to the fee, your betting money will get less because of fees and also your profit is getting lesser because of the fees.

[paolo099]

this is another thing i wasn't considering at start but right now transaction fees are very high, i guess the best way to gamble now is with altcoins or by depositing a good amount of coins once to not keep paying fees every small deposit.

[HiGrabs]

That's is really annoying, I can't transfer BTC from my Exodus wallet because the fees have risen to over 20-30% 

[marlboroza]

Yes, I never thought I will say this but I switched to alts.
I recently sent some money to exchange and I payed 100$ fees, i can't imagine paying so high fees for gambling.
Other option would be to send transaction with small fees and wait for couple a days..or using accelerators...

[crzy]

Personally, I am not affected because I don’t use bitcoin in gambling but I think those people who use bitcoin is gambling is really affected by this problem. For sure they’re switching now to altcoins and be back after this problem fixed or they realized that using bitcoin in gambling is really not good.

[vv181]

Agree, Lack of Segwit adaptation is what makes Bitcoin transaction fees expensive and the confirmation times longer. Personally, I immediately deposit to others altcoins like Ethereum or Litecoin when I want to gamble.

[yugyug]

A lot of gamblers are affected by bitcoin as the main currency for betting for it has a very high transaction fees nowadays, even we bet or claim for little as 10k satoshi, the tx fee is almost half of that. So for the best option , altcoin is the better alternative currency to use for it has a very low tx fee.

[mx667]

A lot of gamblers are affected by bitcoin as the main currency for betting for it has a very high transaction fees nowadays, even we bet or claim for little as 10k satoshi, the tx fee is almost half of that. So for the best option , altcoin is the better alternative currency to use for it has a very low tx fee.

Of course everyone who uses Bitcoin as a means of transaction will be affected by Bitcoin fees, including gamblers. For me, people who want to do deals, in this case the gambler, then they will think twice to transact. Usually people will think to transact in bulk at once rather than bit by bit. People will prefer to transact in bulk than send in stages. For example, like people who deposit money to gambling sites, people who pull profit from gambling sites, and people who pay gambling sites. Or it may be the cost of servers, developers, websites, and everything will be paid at once rather than staged.

[Wind_FURY]

It is very sad to see that some, or maybe many of you have made the switch in using altcoins. But I do not blame you.

But what I am angry about is the lack of education about Segwit, and the lack of implementation from the Bitcoin merchants. Segwit can take the network to 8000 transactions per block, enough to keep the mempool backlog down.

Help me campaign for Segwit.

[maxj57634]

It is very sad to see that some, or maybe many of you have made the switch in using altcoins. But I do not blame you.

But what I am angry about is the lack of education about Segwit, and the lack of implementation from the Bitcoin merchants. Segwit can take the network to 8000 transactions per block, enough to keep the mempool backlog down.

Help me campaign for Segwit.

They are well educated with the segwit but the thing is some companies are delaying it for some unknown reason, ever since the group has been split up delaying a good technology to be implemented only take its toll among user of bitcoin and devs have stupid pride among themselves.

[crwth]

Of course, there are a lot of things affected by the high transaction fees of the bitcoin network. Knowing that you could use altcoins to transact and see the different amounts and value of it, it is definitely one of the downsides in using bitcoin for deposit and transaction. Hopefully, minimizing the number of transaction fees should be done as soon as possible.

[Pursuer]

I am mostly affected by the high bitcoin price rather than the fees. the high price meant for me to gamble less and less because I have the fear of losing in gambling

but whenever I do make a deposit in a gambling site to gamble I pay a lower fee since I am in no rush for it to confirm so that I can play and these past days that fees were huge I never made any kind of transaction whatsoever to prevent the headache of being stuck.

as for SegWit it is a very good idea. a lot of transaction on bitcoin blockchain belong to these gambling site, if we can get most of them to implement SegWit then things will improve a lot. I am going to send some Emails right now to places where I use.

[Juggy777]

I asked the same question for the Bitcoin casino representatives here, https://bitcointalk.org/index.php?topic=2595617.0

But I did not get many, or any, answers from them. Hahaha. Maybe they do not want to admit it, but of course it affects them and most importantly also you!

First I want to get some feed back from you, the users. How negatively affected are you by the high fees in the Bitcoin network? Does it make you stop gambling?

The good news is there is a solution for that problem. It is using Segwit! Let us campaign and start asking our favorite gambling sites to have Segwit enabled and implemented.

For the users, my advice would be to stop using Blockchain.info and replace it with GreenAddress.it. If you are using a mobile wallet, use Samourai. If you want to make a Segwit enabled wallet in Electrum with the standard "3 addresses" then follow these steps

Generate a BIP39, 12 words seed on https://iancoleman.io/bip39/, you can also use it offline for more security.

On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.

On derivation path path use: m/49'/0'/0'/0

Easy! Tell your friends to do the same.

Definitely every one is effected but then on the other hand I don't mind till my privacy is protected, plus the comfort to play from home. Then there is always added benefit that when I cashout the prices have already increased so that's cherry on the cake.

I am confused how did you say segwit can be implemented as segwit2x is not yet ready, how did you do it in electrum wallet. I am waiting to cashout segwit2x in electrum and gamble lol.

[btcprospecter]

Yeah it does affect my profits I'm starting to use alt coins instead and then just converting it back to btc. In a way it's limiting any btc losses.

[bering]

this is really have bad impact for me and before transactions fees went crazy actually i'm a fans of blockchain wallet but seems i have to think twice to use them again as the fees was very expensive now even to send $30 i have to pay $25 as the fees and this is really not worth for me but if OP suggest with change my main wallet can reduce the fees then from now on i think change my wallet seems mandatory