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Author Topic: No gambling today due to bitcoin high transaction fee.  (Read 1481 times)
delfastTions
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May 15, 2024, 06:40:41 AM
 #201

It's good to see that bitcoin transaction fees have fallen and returned to normal. This allows gamblers to return to gambling using bitcoin again.
I can send some satoshis to my gambling account to gamble again and hope there is no increase shortly. But gamblers can still use altcoins or stable coins if they feel comfortable with their choice.
But for those who like to gamble using bitcoin, it's time to get back to gambling again. But be careful when gambling because we don't know when we will win.
Without a doubt this is good news to many of us, I do not really hold any altcoins so bitcoin being so expensive to send out to my casino wallet made prohibitive any form of gambling, and while it is obvious that at some point the fees will grow once again, especially when the bull run is at its highest, I still refuse to convert some of my bitcoin to altcoins, as even if I can see that some of them have very low fees, I do not want to risk losing any profits at this time.
With the story of the huge increase in Bitcoin transaction fees that is happening due to the Ordinals and Rune experiments, here's what I thought. 

Indeed, buying altcoins and then selling them just to save on transaction fees is a completely unnecessary action for many players.  They take time and are generally an unnecessary headache.  On the other hand, the loaded state of mempools can continue for quite a long time, as was the case in October-December 2023. But such surges in transaction fees to completely prohibitive commissions lead to the fact that a player using only BTC is forced to stop transferring money to the deposit.  As a result, such a player is forced to stop playing for a while.  But just a forced break from gambling, although it infuriates and irritates any player, also allows you to take a little break from the game, and in some cases even slightly prevent the player from becoming addicted to gambling.  So it seems there is a positive aspect to such forced breaks in the game. 
But of course, if the crazy mempool does not last for months.  This, of course, will no longer be acceptable.

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May 15, 2024, 07:11:23 AM
 #202

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is  over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

I had a check on that and I was surprised and it's due to the high peak that Bitcoin has merge but nevertheless if I want to gamble I can still afford it but it's a way high gambling with such amounts,then probably if you lose its all gone but it's an avenue to limits gambling and take break in the game.
And if this current transaction fees goes higher as the day go by alot of gamblers will be limited to gambling for a while and I'm sure it's going to to helpful to those addicted gamblers.

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May 16, 2024, 06:44:01 PM
 #203

With the story of the huge increase in Bitcoin transaction fees that is happening due to the Ordinals and Rune experiments, here's what I thought. 

Indeed, buying altcoins and then selling them just to save on transaction fees is a completely unnecessary action for many players.  They take time and are generally an unnecessary headache.  On the other hand, the loaded state of mempools can continue for quite a long time, as was the case in October-December 2023. But such surges in transaction fees to completely prohibitive commissions lead to the fact that a player using only BTC is forced to stop transferring money to the deposit.  As a result, such a player is forced to stop playing for a while.  But just a forced break from gambling, although it infuriates and irritates any player, also allows you to take a little break from the game, and in some cases even slightly prevent the player from becoming addicted to gambling.  So it seems there is a positive aspect to such forced breaks in the game. 
But of course, if the crazy mempool does not last for months.  This, of course, will no longer be acceptable.
I feel like this is why a lot of places are adding USDT, because you can find USDT in many chains, and that means that we are going to have a lot of people using those quick and cheap chains to move USDT around.

There is no volatility, there is no price changes, and yes it is risky because if USDT crashes it won't be like anything else we have seen so far, could see bitcoin go down prices that it didn't hit for many years, but until then it seems like the best option. Allows people to do whatever they want, without having a worry at all. I personally believe that we are going to see something much better with Bitcoin in the future as well, because these ordinals and runes and so forth will be eventually banned from blockchain one day.

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May 16, 2024, 06:50:20 PM
Merited by arwin100 (1)
 #204

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is  over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

I had a check on that and I was surprised and it's due to the high peak that Bitcoin has merge but nevertheless if I want to gamble I can still afford it but it's a way high gambling with such amounts,then probably if you lose its all gone but it's an avenue to limits gambling and take break in the game.
And if this current transaction fees goes higher as the day go by alot of gamblers will be limited to gambling for a while and I'm sure it's going to to helpful to those addicted gamblers.
Dont know if it would really be that still significant on speaking about high transaction fees on which today we are now:
13 sat/vB
$1.18

Highest fee that we could be able to spent out but of course not all people would really be that not making any transactions on the time that there would really be that clogged network.
This is the highest tx fee that i have seen ever in my crypto engagement on which it did been able to reach out $200 which is really that too much. Its true that there are
gamblers who would really be stacking up some USDT into their gambling accounts but of course we do know that not all would really be doing like that because
most of the time we would directly sending out Bitcoin or the main coins that we are loving to gamble with.

R


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May 17, 2024, 09:38:19 AM
 #205

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is  over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

I had a check on that and I was surprised and it's due to the high peak that Bitcoin has merge but nevertheless if I want to gamble I can still afford it but it's a way high gambling with such amounts,then probably if you lose its all gone but it's an avenue to limits gambling and take break in the game.
And if this current transaction fees goes higher as the day go by alot of gamblers will be limited to gambling for a while and I'm sure it's going to to helpful to those addicted gamblers.
Dont know if it would really be that still significant on speaking about high transaction fees on which today we are now:
13 sat/vB
$1.18

Highest fee that we could be able to spent out but of course not all people would really be that not making any transactions on the time that there would really be that clogged network.
This is the highest tx fee that i have seen ever in my crypto engagement on which it did been able to reach out $200 which is really that too much. Its true that there are
gamblers who would really be stacking up some USDT into their gambling accounts but of course we do know that not all would really be doing like that because
most of the time we would directly sending out Bitcoin or the main coins that we are loving to gamble with.

Still good to discuss this matter since network congestion and rising of fees could happen anytime that's why there are still people following these thread to say what people can say regarding on what's currently happening on and what options they are adopting so that they could also look at it and see if those methods they have done is applicable or acceptable for some people here.

And its really pretty painful dealing with that situation and everyone got shock for seeing the transaction fees goes at $200 since people can't afford to do any transaction since a lot of us think that its waste of funds to transfer and just accept that we need to pay so that we can do successful transaction to those casino we are depositing our funds. USDT is actually never  my option since I don't like to deal with stable coins just to push thru my gambling activities and I choose to wait for the fees if not goes back to normal at least it goes back to 10+ sat per/vb $1  on high priority since this could give me convenience especially that I only like to deal with bitcoin since we know that this is more better than any other coins out there.

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May 20, 2024, 02:31:29 PM
 #206

~snip~
Still good to discuss this matter since network congestion and rising of fees could happen anytime that's why there are still people following these thread to say what people can say regarding on what's currently happening on and what options they are adopting so that they could also look at it and see if those methods they have done is applicable or acceptable for some people here.

And its really pretty painful dealing with that situation and everyone got shock for seeing the transaction fees goes at $200 since people can't afford to do any transaction since a lot of us think that its waste of funds to transfer and just accept that we need to pay so that we can do successful transaction to those casino we are depositing our funds. USDT is actually never  my option since I don't like to deal with stable coins just to push thru my gambling activities and I choose to wait for the fees if not goes back to normal at least it goes back to 10+ sat per/vb $1  on high priority since this could give me convenience especially that I only like to deal with bitcoin since we know that this is more better than any other coins out there.

Still, even if the fees are high, if you are moving a lot of value on-chain, the percentage that you are paying is quite low.

Sometimes you can't even do that in fiat.

After a certain amount you will end up paying a lot of fees, or maybe are even impossible to make that transaction.

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May 20, 2024, 03:34:10 PM
 #207

Seems it was mostly one day April 20th though it rose on May 5th also, it would have cleared a transaction after that delay but its unfortunate that BTC has a possible log jam at times.      Before and after those peaks it was fairly reasonable in usage, some people cant wait and pay the price.

Fees represent efficiency to some extent and if BTC is not an option even for the normal people dealing in sub 100 dollar amounts then I dont imagine its going to work out no matter what other genius it might contain.

There are almost alternates, but none of them will be as secure and desired by mainstream business.   I see BTC as like a river, its going to break its banks sometimes with excess flow and volume.  It has to have some lateral expansion to allow all people to use it.

  If anyone ever dismissed alt coins as non valid they should take notes at times like this when its quite essential for a global audience.

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