Topic: A Q for Bitcoin gamblers. Are you affected by high transaction fees? - page 4. (Read 558 times)
December 27, 2017, 12:11:17 AM
No doubt it affect me as a gambler, but i am not a big gambler and not all the time i play gambling, even i avoid to do big bet that's why my fee transaction not affect me little bit.
December 26, 2017, 11:37:22 PM
Fees are a fixed, dead-weight loss. It may not seem like a lot, but if you convert them into a reduction in odds or payout, it really adds up. High fees also encourage larger, single transactions (as do slow transaction times). Neither are good trends.
December 26, 2017, 11:32:23 PM
Firstly, i have faced some major looses back days due to high fees. For transactions of 50$ i have spent 25-30$ fees which is truely a huge loss. 
But the transactions were necessary which then kept me away from gambling. You have a good idea to ask the gambling site to have segwit to reduce the fees, but now the transaction fees are back to normal so we can start enjoying our profits back now.
But the transactions were necessary which then kept me away from gambling. You have a good idea to ask the gambling site to have segwit to reduce the fees, but now the transaction fees are back to normal so we can start enjoying our profits back now. December 26, 2017, 10:38:31 PM
Outrageous transaction fees throughout this month has definitely affected almost all gamblers. Firstly, sportbooks and casinos are charging a little too much for withdrawals with higher fees and smaller cashouts are almost impossible. Secondly, even is the fees is lowered, the withdrawal transaction is taking upto weeks to get a confirmation on the network which is a lot of time being wasted.
December 26, 2017, 05:47:31 PM
Since bitcoin fees have strated getting high and the transactions became slow, gambling for me has become difficult, because for me gambling on matchs is all about making dicesion and doing live betting, so it is all about timing, so since then i actualy quit gambling, because one time i sent transaction and i did not reach the betting site because it was slow and did not reach in time before the betting is closed, a bet that would have made me a lot of money if got it, and it is not just about us gamblers, many gambling sites such as directbet which was a very popualr bitcoin beting site has shut down because of the fees and the transaction time.
December 26, 2017, 04:49:00 PM
We all are passing through the same situation right now, there is nothing "new" with this situation
Even when the fees were as low as $3 per transaction, everybody was complaining too, and now that they are $30 per TX, everybody is complaining harder than before.
This needs to be fixed, all those casinos who were accepting bitcoin in the past are not going to be able to accept bitcoin anymore because of fees.
Doge could probably solve all this crap.
With fees as low as $0.01 per transaction.
Even when the fees were as low as $3 per transaction, everybody was complaining too, and now that they are $30 per TX, everybody is complaining harder than before.
This needs to be fixed, all those casinos who were accepting bitcoin in the past are not going to be able to accept bitcoin anymore because of fees.
Doge could probably solve all this crap.
With fees as low as $0.01 per transaction.
December 26, 2017, 04:45:51 PM
No body can denies that we are all affected by the high fees. But you better have some money around in case of emergency.
Or if you are addicted to gambling like it is my case you will need money always and gamling will be your only source.
Also in some gambling websites, if you win, you have to pay a part from the fees which is something really terrible.
Or if you are addicted to gambling like it is my case you will need money always and gamling will be your only source.
Also in some gambling websites, if you win, you have to pay a part from the fees which is something really terrible.
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.
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.
December 26, 2017, 02:04:20 PM
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
Easy! Tell your friends to do the same.
Yes ofcourse it matters a lot. Sending a new sum of money to gamble or withdrawing some profits from gamble requires us to pay a lot of fees. Things become worse for a small gambler who doesn't uses much funds as this uses a lot from the earned funds. High fees are affecting everybody including gamblers as well.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
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 am not and high fees do not concern me at all. A successful gambler should think more of how to come out in profit rather than noticing if the fees are somewhat higher. It is not the fees that are affecting our gambling sessions but the outcome of our bets. If you think the fees are high enough, deposit all your monthly bankroll at once and keep playing for a month. You will only pay fees once rather than adding deposits every week. There are a lot of workarounds for this point.
I agree though altcoins are a great alternative which casinos should start thinking about.
Its not about being a good trader. Fees are useless. I mean high fees are just useless moreover many gambling portals charge immense fees. There are just like a burning hole in your pocket. I agree though altcoins are a great alternative which casinos should start thinking about.
December 25, 2017, 10:39:32 PM
How negatively affected are you by the high fees in the Bitcoin network?
Very negative it made me hold most of my transactions and outside the forum I have some real life transactions too in my local area. And instead of paying me in bitcoin I'm asking them to pay me through cash delivery or through PayPal.Does it make you stop gambling?
No, I have some deposit remaining and I'm using it.Are you willing to pay for the high fees when you deposit again, or are you willing to have the gambling site take away a large amount in fees from your withdrawals to pay the miners?
You should create a Segwit enabled wallet now and ask your favorite gambling site to also enable Segwit.
December 23, 2017, 04:19:51 PM
How negatively affected are you by the high fees in the Bitcoin network?
Very negative it made me hold most of my transactions and outside the forum I have some real life transactions too in my local area. And instead of paying me in bitcoin I'm asking them to pay me through cash delivery or through PayPal.Does it make you stop gambling?
No, I have some deposit remaining and I'm using it. December 23, 2017, 04:04:30 PM
I am not and high fees do not concern me at all. A successful gambler should think more of how to come out in profit rather than noticing if the fees are somewhat higher. It is not the fees that are affecting our gambling sessions but the outcome of our bets. If you think the fees are high enough, deposit all your monthly bankroll at once and keep playing for a month. You will only pay fees once rather than adding deposits every week. There are a lot of workarounds for this point.
I agree though altcoins are a great alternative which casinos should start thinking about.
I agree though altcoins are a great alternative which casinos should start thinking about.
December 23, 2017, 12:45:50 PM
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
Easy! Tell your friends to do the same.
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
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.
Of course that matters a lot. Not just in gambling but also i trading when you transfer funds to and from exchanges. You're gambling because most likely you want easy money. Its a pain if whatever you.won will just get eaten up mostly by fees right?
December 23, 2017, 12:26:18 PM
yes, I am affected by it to the fact that not many gambling sites have low amount free withdrawal anymore. If its free, then the min withdrawal limit has raised and its almost impossible to gamble with small amounts such as 0.001 BTC as those transactions will take a lifetime to get confirmed and to start gambling on it.
We all are and there is no questions about it, not just transaction fees, confirmations time is also can be a mood killer. I think if someone doesn`t fix that soon bitcoin gambling will have a problem, many people already use other altcoins for gambling cause of cheaper fees and faster confirmation time, and to be clear other altcoins also grow and their prices are rising.
December 23, 2017, 12:15:19 PM
yes, I am affected by it to the fact that not many gambling sites have low amount free withdrawal anymore. If its free, then the min withdrawal limit has raised and its almost impossible to gamble with small amounts such as 0.001 BTC as those transactions will take a lifetime to get confirmed and to start gambling on it.
December 23, 2017, 12:00:40 PM
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
December 23, 2017, 07:17:11 AM
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.
December 23, 2017, 05:46:09 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
Easy! Tell your friends to do the same.
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
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.
December 23, 2017, 04:29:55 AM
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.
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.
December 23, 2017, 02:47:34 AM
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.
Jump to: