A Q for Bitcoin gamblers. Are you affected by high transaction fees? - page 3.

Zackgeno96

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Quote from: Wind_FURY on January 14, 2018, 12:05:49 AM

Quote from: iv4n on January 13, 2018, 06:12:56 AM

Quote from: equator on January 13, 2018, 01:36:42 AM

Ya it is so true that due to high fees and transaction confirmation delay is making to go back to fiat gambling sites or use altcoin for gambling.

We will not come back to fiat gambling, but gambling with alts can be next logical step. Fees are really high, I don't like to gamble with some big amounts, so when I wish to send 50-100 dollars that cost me almost half of that amount just to send that money. I'm thinking about changing my gambling habits, but before final decision I will give bitcoin more time to make this better. I'm familiar with some sites and I wouldn't like to change them for now reason, but this fees are really pain in the ass for many of us.

This is a sad reality and that is what is giving altcoins some subsidy and leverage over Bitcoin. It is not the users' fault but more the fault of the wallet services like Blockchain.info, and other services that refuse to implement Segwit. Also do not forget some of those services were the signatories of the NYA, the same people who were demanding that something should be done to lower the fees and increase the block size.

But why are they NOT using Segwit?

Well I am agree with you, the main business players in the bitcoin network should take some bold steps and work accordingly in order to implement the segwit. Just like others i am also getting frustrated whenever the transactions are unconfirmed and got delayed even after paying high transaction fees.

Wind_FURY

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Quote from: iv4n on January 13, 2018, 06:12:56 AM

Quote from: equator on January 13, 2018, 01:36:42 AM

Ya it is so true that due to high fees and transaction confirmation delay is making to go back to fiat gambling sites or use altcoin for gambling.

We will not come back to fiat gambling, but gambling with alts can be next logical step. Fees are really high, I don't like to gamble with some big amounts, so when I wish to send 50-100 dollars that cost me almost half of that amount just to send that money. I'm thinking about changing my gambling habits, but before final decision I will give bitcoin more time to make this better. I'm familiar with some sites and I wouldn't like to change them for now reason, but this fees are really pain in the ass for many of us.

This is a sad reality and that is what is giving altcoins some subsidy and leverage over Bitcoin. It is not the users' fault but more the fault of the wallet services like Blockchain.info, and other services that refuse to implement Segwit. Also do not forget some of those services were the signatories of the NYA, the same people who were demanding that something should be done to lower the fees and increase the block size.

But why are they NOT using Segwit?

frmracc

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Yes obviously, i am a small gambler and high transaction fees is really killing me. Everytime i want deposit on gambling site, the fees is really big and the fees even bigger than my deposit rofl. I hope some gambling sites start accepting altcoins on their site, so we can use another alternate coins to gambling.

vintages

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Quote from: vv181 on December 22, 2017, 06:01:48 PM

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.

Ya, that's true. Most casino do not use Segwit which makes it difficult for players. Another things is that these casinos whom have Segwit or is Segwit ready face the problem of having players whom have no information about Segwit or haven't used Segwit before. I think the best solution is to educate and encourage players and casinos owners more about Segwit and it usefulness. This will lower the issue of high bitcoin transaction fee for depositing and withdrawing their coins.

yoseph

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Quote from: iv4n on January 13, 2018, 06:12:56 AM

Quote from: equator on January 13, 2018, 01:36:42 AM

Ya it is so true that due to high fees and transaction confirmation delay is making to go back to fiat gambling sites or use altcoin for gambling.

We will not come back to fiat gambling, but gambling with alts can be next logical step. Fees are really high, I don't like to gamble with some big amounts, so when I wish to send 50-100 dollars that cost me almost half of that amount just to send that money. I'm thinking about changing my gambling habits, but before final decision I will give bitcoin more time to make this better. I'm familiar with some sites and I wouldn't like to change them for now reason, but this fees are really pain in the ass for many of us.

Gambling with alts with lower transaction fees seems to be on the rise because no one want to pay $30 for transaction fees whiles they can hopefully use it make even more whiles gambling and because of that the gambling sites have started to accept those coins as well specifically BCH.

xMossx

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I do not currently have my btc in a wallet with segwit, so tx fees have been a pain unless I'm sending very large amounts.

iv4n

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Quote from: equator on January 13, 2018, 01:36:42 AM

Ya it is so true that due to high fees and transaction confirmation delay is making to go back to fiat gambling sites or use altcoin for gambling.

We will not come back to fiat gambling, but gambling with alts can be next logical step. Fees are really high, I don't like to gamble with some big amounts, so when I wish to send 50-100 dollars that cost me almost half of that amount just to send that money. I'm thinking about changing my gambling habits, but before final decision I will give bitcoin more time to make this better. I'm familiar with some sites and I wouldn't like to change them for now reason, but this fees are really pain in the ass for many of us.

equator

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Ya it is so true that due to high fees and transaction confirmation delay is making to go back to fiat gambling sites or use altcoin for gambling.

Netnox

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Obviously everyone is effected by the high transaction fee. Earlier, the withdrawal fee was like $0.10 per transaction. Now it has climbed to somewhere between $15 and $30 per transaction. So even if you are lucky and have a few big wins, you will be less inclined to withdraw your funds.

Wind_FURY

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Quote from: Dhaaaw on January 09, 2018, 05:05:05 PM

As someone who deals alot with micro transactions, these fees right now at 12/15 $ are killing me. I dont have a large bankroll to start with and if i want to deposit some to gamble with them its slowly drilling inside my pockets, i somehow learned how to be patient and only deposit large amounts at the same time but i seriously cant keep up. We need to get a fix asap.

Then help me campaign for Segwit around the forum. The plan is to make users, casinos, exchanges and others aware that Segwit can help reduce the fees and make our transactions quicker. Plus if a user is willing to wait for hours for his transaction to confirm, then he can lower the fees more.

Education and awareness is the only way we can overcome this. The technology to help mitigate the problem is already there. It is Segwit, the introduction to the Lightning Network.

Dhaaaw

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As someone who deals alot with micro transactions, these fees right now at 12/15 $ are killing me. I dont have a large bankroll to start with and if i want to deposit some to gamble with them its slowly drilling inside my pockets, i somehow learned how to be patient and only deposit large amounts at the same time but i seriously cant keep up. We need to get a fix asap.

gabmen

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Quote from: The_prodigy on January 02, 2018, 10:51:05 PM

Quote from: Wind_FURY on December 22, 2017, 02:38:04 AM

I asked the same question for the Bitcoin casino representatives here, https://bitcointalksearch.org/topic/a-q-for-bitcoin-casino-reps-are-your-profits-affected-by-high-transaction-fees-2595617

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

Quote

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.

I think everyone is affected by the high transaction fees as long as you are tinkering and dabbling on cryptocurreny. THe effect is that in every transaction that you made as long as there is bitcoin to start with you would have to pay these fees

It's not really like this before, like last year. I guess the boom in bitcoin price aren't all about profit. Those that are earning btcs and gambling with btc are largely affected

The_prodigy

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Quote from: Wind_FURY on December 22, 2017, 02:38:04 AM

I asked the same question for the Bitcoin casino representatives here, https://bitcointalksearch.org/topic/a-q-for-bitcoin-casino-reps-are-your-profits-affected-by-high-transaction-fees-2595617

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

Quote

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.

I think everyone is affected by the high transaction fees as long as you are tinkering and dabbling on cryptocurreny. THe effect is that in every transaction that you made as long as there is bitcoin to start with you would have to pay these fees

triads

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Quote from: Wind_FURY on December 27, 2017, 11:33:29 PM

Quote from: lite on December 27, 2017, 02:35:02 PM

I'm a bit affected by high tx fees. i don't gamble frequently, so i'm fine! though we do need some solution for high tx fee and just segwit isn't gonna do, we also need lightning network or an alternative. but as you said we/casino/other sites/services need to start using segwit address, it's the first step.

For anyone to start using new technologies like the Lightning Network and things like Schnorr signatures that help Bitcoin to scale, Segwit should be enabled first and foremost.

You can see this coming already by looking at what is going on now. The NYA signatories will continue to ignore Segwit, and all the other scaling solutions that come with it, and start accepting an altcoin instead. The question is "Why?".

Maybe that's because SegWit and Lightning Network are just bandaids to the problem. For Bitcoin to be a true currency, it needs a lot more than just going from 1 MB block size to 1.8 MB. Maybe they just see that altcoins are handling the problem more robustly...

Wind_FURY

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Quote from: lite on December 27, 2017, 02:35:02 PM

I'm a bit affected by high tx fees. i don't gamble frequently, so i'm fine! though we do need some solution for high tx fee and just segwit isn't gonna do, we also need lightning network or an alternative. but as you said we/casino/other sites/services need to start using segwit address, it's the first step.

For anyone to start using new technologies like the Lightning Network and things like Schnorr signatures that help Bitcoin to scale, Segwit should be enabled first and foremost.

You can see this coming already by looking at what is going on now. The NYA signatories will continue to ignore Segwit, and all the other scaling solutions that come with it, and start accepting an altcoin instead. The question is "Why?".

Qartersa

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Quote from: mrcash02 on December 27, 2017, 12:25:53 PM

Yes, it affects, if it's too high I prefer to use another Crypto-Currency to gamble and to send transactions and I think other people do the same. It helps BTC network finish the many pending transactions it has, decreasing the fees next. So everyone can start using Bitcoins again paying the average fair fees that don't bother anyone. It's surely not a solution (to use another currency instead of Bitcoin), but until development advance on this area that is what can be done.

I agree, I would say that I can't even move my coins around without using high fees which I do not want to do. I earn little bitcoins to be moving it around at this level of transaction fees. Also, nowadays the transaction accelerators are no longer working as now everybody that sends out a transaction uses the transaction accelerators hence those are clogged as well. I guess the only chance is we upgrade the bitcoin code again.

lite

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I'm a bit affected by high tx fees. i don't gamble frequently, so i'm fine! though we do need some solution for high tx fee and just segwit isn't gonna do, we also need lightning network or an alternative. but as you said we/casino/other sites/services need to start using segwit address, it's the first step.

Quote from: llyfee4u on December 27, 2017, 06:09:55 AM

The days of bitcoin faucets being profitable or even worth the time are long gone I think. I've never been a fan of them because the rewards are usually measly but requires a lot of time to keep clicking for claims. Although it is worth noting that it's free and if one is patient with it over 6 months to a year, you might just be able collect a few thousand sats which in turn may be worth a considerable amount as the price of bitcoin keeps increasing.
To answer the question with a simple answer, I’d Say bitcoin faucets aren't useful now. Perhaps altcoins faucets might be a better bet.

What??

mrcash02

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Yes, it affects, if it's too high I prefer to use another Crypto-Currency to gamble and to send transactions and I think other people do the same. It helps BTC network finish the many pending transactions it has, decreasing the fees next. So everyone can start using Bitcoins again paying the average fair fees that don't bother anyone. It's surely not a solution (to use another currency instead of Bitcoin), but until development advance on this area that is what can be done.

llyfee4u

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The days of bitcoin faucets being profitable or even worth the time are long gone I think. I've never been a fan of them because the rewards are usually measly but requires a lot of time to keep clicking for claims. Although it is worth noting that it's free and if one is patient with it over 6 months to a year, you might just be able collect a few thousand sats which in turn may be worth a considerable amount as the price of bitcoin keeps increasing.
To answer the question with a simple answer, I’d Say bitcoin faucets aren't useful now. Perhaps altcoins faucets might be a better bet.

Wind_FURY

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Quote from: streetlight on December 26, 2017, 04:06:34 PM

Who isn't affected by high transaction fees?

Virtually all Bitcoin businesses worldwide, both online and retail are affected. The high fees make it impossible to do instant, cheap transactions like was always possible before...

If this trend continues, BTC will no longer be considered as a currency in my book. Undecided

That is the same complaint by some users, mostly big blockers, and the biggest Bitcoin merchants and services, also known as the NYA signatories, had. They cried out loud to the Core developers to do something about the scaling issue.

Then 2 years of development and debate later, Segwit was finally activated in the network on block 481,824. But why are those big Bitcoin merchants and services, who cried out loud, started NOT to use Segwit but instead started accepting Bitcoin Cash?

Topic: A Q for Bitcoin gamblers. Are you affected by high transaction fees? - page 3. (Read 558 times)