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Author Topic: No gambling today due to bitcoin high transaction fee.  (Read 1359 times)
Odusko
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April 20, 2024, 04:41:26 PM
 #41

Some days are like this, and we can't expect such a big event to happen in the bitcoin network without affecting the transactions and other settings, so since we are still at this early stage of the new blockseize rewards we may have to give sometime for the network to recover or stabilise.
Even as that may be the case, we also still have the memory of how bitcoin fees have skyrocketed in the last few weeks month and day's, so we need to get used to such situations since it will only have temporary effect on the network.

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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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April 20, 2024, 04:51:54 PM
 #42

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?
Today bitcoin transcation fees is really too high. I don't think gambling sites would be shut down for that today. Because not everyone only gambles with Bitcoin. Many people gamble by depositing in trx, ltc, bsc chain, I myself deposit in tron ​​chain for gambling most of the time because I avoid gambling with big amount. so I am not interested in paying high transaction fees for small amounts. therefore, such transaction fees in Bitcoin will not deter gamblers from gambling.


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April 20, 2024, 05:05:54 PM
 #43

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?
No one has ever seen such a high transaction fees. Many casinos already offer built-in crypto exchange, so, I assume that only Bitcoin withdrawals would be delayed and no gambler would deposit Bitcoins too (except rich ones). It wouldn't be a lucky day for those gamblers who use non-custodial wallet (exchange users should easily be able to convert it to any altcoin and then deposit on casino).
By the way, today would be a very strange and unusual day for every crypto business that accepts Bitcoin. Just imagine, you are a casino owner and expect that users deposit daily up to 20 BTC (for example) and today you wake up and there are 0 deposits Cheesy That would be a heart-attacking experience.

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April 20, 2024, 07:17:49 PM
 #44

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?
Today bitcoin transcation fees is really too high. I don't think gambling sites would be shut down for that today. Because not everyone only gambles with Bitcoin. Many people gamble by depositing in trx, ltc, bsc chain, I myself deposit in tron ​​chain for gambling most of the time because I avoid gambling with big amount. so I am not interested in paying high transaction fees for small amounts. therefore, such transaction fees in Bitcoin will not deter gamblers from gambling.
Actually pretty smart to be gambling with altcoins. Gonna save tons of money in fees. Currently 80$ for a high priority transaction with bitcoin. Hopefully the crazy stops in the next few days, otherwise people gonna be scared away from bitcoin.

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April 20, 2024, 08:01:27 PM
 #45

Fees have dropped to around $15 now, maybe in the next few hours it will be at $5 ish.
Or maybe it will rise if the runes protocol spamming the network again (damn you casey).
Its better to withdraw the BTC balance at the casino when the fees back or near to normal and replace it with another coin temporarily.

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April 20, 2024, 08:16:58 PM
 #46

Transaction fees have been expensive for days, and yesterday they went crazy. But it's nothing new, I usually have some alt on the side that I use at times like this. And luckily there are some wallets & casinos that offer different chains, so we can use that option as well.

That was to be expected. The fees have skyrocketed due to the recently launched Runes protocol, which went live at the halving's block 840,000. Although I didn't believe the fees would go that high. Let's hope that the situation will calm down in a day or two.

I guess these high BTC fees can and are problematic for people who gamble only with BTC. But those who are in crypto for some longer time always have some USDT on a side and can use that for gambling at any time with very low fees on some chains.

I dont typically hold any stablecoins as they dont serve a purpose for me.  Thankfully, there are other altcoins with low transaction fees. As long as these altcoins are widely accepted for my purchases, Im good.

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April 20, 2024, 08:24:25 PM
 #47

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?
Without a doubt that is a transaction fee that very few people can afford, as if you can afford to pay that much money on fees then you are probably moving tens of thousands of dollars at minimum, while gamblers and other people making small transactions have no other option but to wait until the fees get reasonable again, something that could take a lot of time as the excitement over the halving and what it is to come is just starting.

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April 20, 2024, 08:39:42 PM
 #48

Fees have dropped to around $15 now, maybe in the next few hours it will be at $5 ish.
Or maybe it will rise if the runes protocol spamming the network again (damn you casey).
Its better to withdraw the BTC balance at the casino when the fees back or near to normal and replace it with another coin temporarily.
Using the alternative is ideal, since the fees are really high and if you are a small time gambler, this is not worth it to gamble. This is why there’s a lot of gamblers who prefer to gamble with the stablecoins or with the altcoins as the fees are low and they can transact it faster. BTC option can be good to big time players as they can afford that fees.

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April 20, 2024, 08:42:07 PM
 #49

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?
You would really be that not doing gambling today but since i do have some balance in my casino account then there would be no issues. Usually the only problem is to make out deposits and of course on the time that you make out some withdrawal but with the current fees we do have then it would really be just that painful to see that current fees on Bitcoin network today. Well, this is really just that something temporal and we would really be able to see for it to normalize in a few hours on which this is something that could really happen in a market. Just like on what most people been saying that you could make use with other coins for you to gamble
since majority of platforms or sites now are really that having that multiple coins on which you could really be able to play. Somehow it is really just that there are gamblers who do really want to see Bitcoin as their balance and the coin that they would really be winning up.

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April 20, 2024, 08:45:48 PM
 #50

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?

The fee is absolutely outrageous! I thought it was a bug in my code causing this when I tried to withdraw funds from my website, but no! That is really the fee! Lol.



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April 20, 2024, 09:19:54 PM
 #51

you can always use a crypto currency that is processed faster and also with a lower transaction fee.
If you have enough time, you can send btc with very low fees and wait...

Generally speaking, I think that in the long term L2 systems will be the minimum standards for deposits / withdrawals,

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April 20, 2024, 09:24:10 PM
 #52

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.
seems like this is a normal occurrence after every halving, and yeah this is also the only time I've seen Bitcoin fee reach this high, it's probably the new ATH for Bitcoin fees.

Who among us here can still afford to gamble?
probably the ones who already have bitcoins on their gambling accounts or high rollers. also, a lot of gamblers even the ones who can afford the fee would probably refrain from depositing at the moment and let the fee go down.

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April 20, 2024, 09:33:55 PM
 #53

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 think those that leave their coins or some bitcoin in their betting account can still afford to gamble but for the case of other that don't then thats a different story because I can't imagine someone actually paying such fee to gamble when their is no certainty with his gambling habits accept that person has enough bitcoin and wouldn't mind wasting some of it although their is the option of USDT if you are that desperate type.

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April 20, 2024, 09:47:08 PM
Last edit: April 21, 2024, 07:00:40 PM by Saint-loup
 #54

It's sad for the Bitcoin ecosystem to have such high fees, it destroys BTC reputation as a convenient and usuable cryptocurrency since very few casinos and gambling platforms offer Lightning Network deposits up to now unfortunately. People will then turn themselves to altcoins or stablecoins and won't come back easily to Bitcoin. So I hope devs will find some solutions to this recurrent issue soon. It doesn't concern Gambling activities only.

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April 20, 2024, 09:55:52 PM
 #55

you can always use a crypto currency that is processed faster and also with a lower transaction fee.
If you have enough time, you can send btc with very low fees and wait...

Generally speaking, I think that in the long term L2 systems will be the minimum standards for deposits / withdrawals,

For now, if you really do want to gamble, then, use other alts with low tx fees. But if not, you need to bear with high btc tx fees. In the coming days, it will go down for sure. Currently, it goes down to about 18 bucks for high priority. Based from the time the OP created this thread, it means, the fees already went down significantly.


https://mempool.space/

If you are not in a hurry, then, don't deal with btc for the moment. Or you can always trade your btc to other alts, that is, if your btc is already in the exchange.

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April 20, 2024, 09:59:51 PM
 #56

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?
Degenerate gamblers would still fund their wallets and gamble regardless... Unless they haven't got that much in stock, they won't mind.
On the other hand, most of them would prefer to swap to any altcoin and fund with it. So If you thought the fees would deter them, then you definitely don't know a thing about gambling!

Alot of people saying Bitcoin is behaving in an unusual way due to the surge in transaction fees? Do they really know what the term HALVING MEANS?

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April 20, 2024, 10:20:34 PM
 #57

Currently as things are going with Bitcoin wise gamblers understand this all, and they are trying their best for having alternative coins which are much better and having less fees because usually as we have situation like this casino take good advantage of this all as I personally face and give huge amount in withdrawal but now in last few months usually I am going with alternative options.
With this we can withdraw quickly and fees is also very less after having withdraw we can convert them in bitcoin for own personal because for holding still I am comfortable with this but for the use case due to these issues now I am going with my other options instead of this bitcoin.

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April 20, 2024, 10:27:41 PM
 #58

I might get staked for this but I almost never use bitcoin for gambling lol.

For starters, I try to always keep low fee altcoins like LTC at my disposal for quick transactions. Because their network fees are cheap, their withdrawal fee in casinos are always cheaper than btc. Not only that, compared to BTC, the minimum withdrawal amount tend to be much lower in most casinos I've played to as well -- this is useful if you have a small bankroll.

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April 20, 2024, 10:31:38 PM
 #59

If you can transfer your coins to an exchange and trade those bitcoins to doge or XRP, then you can still play to other platforms that accepts these for deposits. These coins are seldomly affected by the increase in fees on the bitcoin network, making them good for transferring funds tp gambling platforms. You can always send back these coins to an exchange once you're done and convert to btc, after which you can decide if you'll keep it there in the mean time or you keep the alts as is. It's not a solution but rather a nice workaround if you may.

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April 20, 2024, 10:42:52 PM
 #60

It reminded me of the past when rates were very high. In my case, since I started placing my bets, I chose Litecoin as a deposit method because at the beginning I used bitcoin, but the problem was that when I won and withdrew from the casino, the amount that arrived in my wallet looked like I didn't win. nothing due to the high rate, so at that time I realized that there was no point in using bitcoin for gambling anymore. That's why I started using Litecoin because it has very low fees, even when the market is very busy like it is currently, Leitecoin continues to have low fees. Even for trading I chose to always withdraw in Litecoin or USDt because of the very low fees. In my opinion playing using bitcoin at a time when bitcoin rates are low, it only pays off for people who play with large amounts

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