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Author Topic: No gambling today due to bitcoin high transaction fee.  (Read 1958 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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harapan
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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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September 18, 2024, 08:14:24 AM
 #208

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.
In my opinion, for quite a long time now, BTC has not experienced such critical mempool states that the fees would be absolutely exorbitant amounts in dollars, or even tens or hundreds of dollars. After the peak of fees after the halving in April and the initialization of the protocol with runes, everything has more or less calmed down and so far there are no such critical dangers for increasing fees. So, as you say, the river has not yet overflowed its banks. And as for L2 for BTC, it seems to me that all initiatives in this direction are noticeably less active and apparently the calm state of the mempool is slowing down such initiatives of some developers.

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September 18, 2024, 11:27:16 PM
 #209

In my opinion, for quite a long time now, BTC has not experienced such critical mempool states that the fees would be absolutely exorbitant amounts in dollars, or even tens or hundreds of dollars. After the peak of fees after the halving in April and the initialization of the protocol with runes, everything has more or less calmed down and so far there are no such critical dangers for increasing fees. So, as you say, the river has not yet overflowed its banks. And as for L2 for BTC, it seems to me that all initiatives in this direction are noticeably less active and apparently the calm state of the mempool is slowing down such initiatives of some developers.

The fee for the transaction will be the common one,even in the trading we face this bitcoin transaction fee.In order to avoid of this,the gamblers can use the other coins like Ethereum,BNB and tron.So the transaction fee issue will be resolved.Many experienced gambler know this tricks to avoid of the fee in the gambling transaction.But the new people not aware of this fee issue,they mostly pay huge amounts of money for the fee itself.The gamblers should concentrate in the game play by the gambling transaction fee problem,because concentrated game alone will help the gamblers to make money in gambling site.

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September 18, 2024, 11:34:30 PM
 #210

In order to avoid of this,the gamblers can use the other coins like Ethereum,BNB and tron.So the transaction fee issue will be resolved.
Who still uses ethereum related tokens (erc20) to avoid higher fee and congestion? I guess you are in the wrong way, it's a suicide, nothing's gonna happen good using such tokens unless you want to try and try again after fail transactions. Even now, ethereum blockchain has over 100k pending transactions.

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September 19, 2024, 02:29:54 AM
 #211

In order to avoid of this,the gamblers can use the other coins like Ethereum,BNB and tron.So the transaction fee issue will be resolved.
Who still uses ethereum related tokens (erc20) to avoid higher fee and congestion? I guess you are in the wrong way, it's a suicide, nothing's gonna happen good using such tokens unless you want to try and try again after fail transactions. Even now, ethereum blockchain has over 100k pending transactions.

Agree with you that ethereum is not friendly anymore to a fee ahhahah the simple send cost you 2$ in gwei of 3.5 that is not cheap at all. But Im still agree with other chain like @usekevin said earlier.
BNB and Tron is still good at the moment and using stablecoin is the best option for now.

heck I'm just curious why the casino not adapting new chain because Layer 2 of Ethereum is very booming right now and they offer crazy cheap transaction fee per tx.

While bitcoin isn't cheap last time I send my salary is around 1$ so yeah

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September 19, 2024, 02:43:47 AM
 #212

Right now, Bitcoin fees are already relatively small, but I don’t understand why casinos that accept cryptocurrency can’t switch to more convenient coins. We can use Litecoin, for example. It’s a POW coin, but it has consistently low fees. And so, there are a huge number of blockchains with low fees. Arbitrum, Optimism, Cardano, even xrp. Or Aptos. Yes, there are now several dozen relatively popular coins that have low fees and can be used to pay in casinos and bookmakers.
Besides, if those who claim that we are at the very beginning of a new Bitcoin bull run are right, then using Bitcoin in casinos is not very far-sighted.

 
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September 19, 2024, 02:52:36 AM
 #213

...
While bitcoin isn't cheap last time I send my salary is around 1$ so yeah
Agreed much of most of you said about the other chains which is the most used for transferring due to lower fees. About bitcoin, i just spent 20 cents for a fee of 3 sat/vB, it's been more than a month already, not less but not that much of a fee also.

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September 19, 2024, 03:25:03 AM
 #214

...
While bitcoin isn't cheap last time I send my salary is around 1$ so yeah
Agreed much of most of you said about the other chains which is the most used for transferring due to lower fees. About bitcoin, i just spent 20 cents for a fee of 3 sat/vB, it's been more than a month already, not less but not that much of a fee also.
Right, and so we are back playing with our favorite Bitcoin as the fees are back to normal. I even had used 2 sat/vB now to deposit on my favorite casino. As for the ERC-20 related tokens, they are more expensive than Bitcoin and the last time I used them was months ago.

So I guess for now we can conclude that everyone is very happy that the Bitcoin tx fees are not that expensive. And if you check the current mempool, it's 3 sat/vB and so it's less than a dollar.

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September 19, 2024, 04:53:50 AM
 #215

In my opinion, for quite a long time now, BTC has not experienced such critical mempool states that the fees would be absolutely exorbitant amounts in dollars, or even tens or hundreds of dollars. After the peak of fees after the halving in April and the initialization of the protocol with runes, everything has more or less calmed down and so far there are no such critical dangers for increasing fees. So, as you say, the river has not yet overflowed its banks. And as for L2 for BTC, it seems to me that all initiatives in this direction are noticeably less active and apparently the calm state of the mempool is slowing down such initiatives of some developers.

The fee for the transaction will be the common one,even in the trading we face this bitcoin transaction fee.In order to avoid of this,the gamblers can use the other coins like Ethereum,BNB and tron.So the transaction fee issue will be resolved.Many experienced gambler know this tricks to avoid of the fee in the gambling transaction.But the new people not aware of this fee issue,they mostly pay huge amounts of money for the fee itself.The gamblers should concentrate in the game play by the gambling transaction fee problem,because concentrated game alone will help the gamblers to make money in gambling site.
If you want to gamble, you have to pay a fee and you can't reduce it even if you want, and in many gambling games it is possible to reduce the cost by abandoning the tendency to pay fees through Bitcoin and using other currencies. Yes almost every gambling board has facility to use altcoins and you can pay fees using any altcoins if you wish. I generally try to avoid using Bitcoin when gambling because it is a valuable asset and its proper use can only be made through long-term investments.

By focusing on gambling and pacing yourself accordingly, you can profit and while you continue to profit you can consider paying the minimum fee as part of the game.

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September 19, 2024, 06:41:02 AM
 #216

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?

On the other hand, I'm using bitcoin because I usually use usdt stablecoins, and with that amount of fees in bitcoin transactions, I'd like to see the fee decrease in the bitcoin network.
Because that kind of fee is not humane in my opinion.

Except if I release 100 000$ worth of bitcoin, maybe I can gamble even if that is the amount of the fee of 100$ is fine with me in exchange for the amount of bitcoin I can release.
But I won't sacrifice 100$ fee if the amount I can get is below 100$ of course.

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delfastTions
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September 19, 2024, 07:10:46 AM
 #217

In my opinion, for quite a long time now, BTC has not experienced such critical mempool states that the fees would be absolutely exorbitant amounts in dollars, or even tens or hundreds of dollars. After the peak of fees after the halving in April and the initialization of the protocol with runes, everything has more or less calmed down and so far there are no such critical dangers for increasing fees. So, as you say, the river has not yet overflowed its banks. And as for L2 for BTC, it seems to me that all initiatives in this direction are noticeably less active and apparently the calm state of the mempool is slowing down such initiatives of some developers.

The fee for the transaction will be the common one,even in the trading we face this bitcoin transaction fee.In order to avoid of this,the gamblers can use the other coins like Ethereum,BNB and tron.So the transaction fee issue will be resolved.Many experienced gambler know this tricks to avoid of the fee in the gambling transaction.But the new people not aware of this fee issue,they mostly pay huge amounts of money for the fee itself.The gamblers should concentrate in the game play by the gambling transaction fee problem,because concentrated game alone will help the gamblers to make money in gambling site.
If you want to gamble, you have to pay a fee and you can't reduce it even if you want, and in many gambling games it is possible to reduce the cost by abandoning the tendency to pay fees through Bitcoin and using other currencies. Yes almost every gambling board has facility to use altcoins and you can pay fees using any altcoins if you wish. I generally try to avoid using Bitcoin when gambling because it is a valuable asset and its proper use can only be made through long-term investments.

By focusing on gambling and pacing yourself accordingly, you can profit and while you continue to profit you can consider paying the minimum fee as part of the game.
Apparently, most crypto casino gamblers use Altcoins when the casino itself allows betting in these coins. Sometimes their own game tokens are also used. As for Bitcoin payments, I certainly fully agree that this is a valuable asset and it is more important to use Altcoins with small fees in the game. This becomes especially important when there are many payments. And of course, Bitcoin is still a very slow blockchain compared to modern altcoins. This also affects the slowdown of your game to some extent.

The question is, however, which Altcoin is preferred by the relative majority of players, i.e. those that allow different casinos to be used in gambling?

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September 19, 2024, 07:45:33 AM
 #218

Apparently, most crypto casino gamblers use Altcoins when the casino itself allows betting in these coins. Sometimes their own game tokens are also used. As for Bitcoin payments, I certainly fully agree that this is a valuable asset and it is more important to use Altcoins with small fees in the game. This becomes especially important when there are many payments. And of course, Bitcoin is still a very slow blockchain compared to modern altcoins. This also affects the slowdown of your game to some extent.

The question is, however, which Altcoin is preferred by the relative majority of players, i.e. those that allow different casinos to be used in gambling?
In my opinion, the best altcoin for gambling is Litecoin, digital silver and Bitcoin's brother. It is fast, the fees are low and it has a good reputation over the years, and it is also similar to Bitcoin due to halvings. I have seen that it is available in many casinos, so why not use it there. But I would not use Bitcoin itself because it is suitable as a means of accumulation and a long-term asset that does not need to be used in transactions that we often make. After all, if we use it every time in gambling, then due to the high commission, we will be left without a deposit.

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September 19, 2024, 08:04:47 AM
 #219

Apparently, most crypto casino gamblers use Altcoins when the casino itself allows betting in these coins. Sometimes their own game tokens are also used. As for Bitcoin payments, I certainly fully agree that this is a valuable asset and it is more important to use Altcoins with small fees in the game. This becomes especially important when there are many payments. And of course, Bitcoin is still a very slow blockchain compared to modern altcoins. This also affects the slowdown of your game to some extent.

The question is, however, which Altcoin is preferred by the relative majority of players, i.e. those that allow different casinos to be used in gambling?
In my opinion, the best altcoin for gambling is Litecoin, digital silver and Bitcoin's brother. It is fast, the fees are low and it has a good reputation over the years, and it is also similar to Bitcoin due to halvings. I have seen that it is available in many casinos, so why not use it there. But I would not use Bitcoin itself because it is suitable as a means of accumulation and a long-term asset that does not need to be used in transactions that we often make. After all, if we use it every time in gambling, then due to the high commission, we will be left without a deposit.

Litecoin is a good option and I have used it a lot however when you gamble with Bitcoin and are able to win is much better than gambling with Litecoin as you add Bitcoin to your wallet which can increase much more in value than we have seen Litecoin do it. In this context I am now ready to wait and to pay a bit more fees because the end result if good meaning if we win with Bitcoin is much more beneficial for us than it can be with Litecoin. I know we can always use an exchange to change between cryptocurrencies yet why bother with that.

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September 19, 2024, 08:59:12 AM
Last edit: September 19, 2024, 03:50:52 PM by Oluwa-btc
 #220

Good observation. However the fourth halving which has temporarily resulted in transactions fee increases shouldn't stop one who already has some good amount in his casino wallet account from gambling. After gambling the individual will have to exercise patience for some days until the fee drops to withdraw their winnings. There's an option for the use of other crypto - USDT and Tron.

High transaction fees had really affected alot of person's gambling habits and I think it's a good pace for self discipline and retrieval of gambling activities that usually results in addiction but it's fine for people that have a high income and are responsible in their dealings with money. So for the ones that use Bitcoin as payments to gamble I believe that rate is high enough to gamble with and one can also limits the use of it and make use of other currencies too, so what I'm trying to say is the high transaction fees in Bitcoin it's a medium to observe the current trends of the markets and limits the gambling activities inorder not to results in addiction and again if you look at this high rate of transactions fees for investors it's an avenue to invest more and accumulate more assets for future use.

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