Topic: Casinos and gamblers are struggling with high tx fees.? - page 6. (Read 665 times)
As far as I know, stake charged me 0.00007 as fees for withdrawal, so that means that Stake covers the remaining fees, I think this is one of the most generous periods for casinos haven't to maintain stable transaction fees by covering for the extra charges which is something that is highly commendable of them at this point where the transactions fees are off the roof.
I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 11/3 of the usual influx.
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??
Sandra 🧑🦰
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??
Sandra 🧑🦰
If they don't have any balance on their hot wallets then provably they will feel those high tx fee on each transactions they do. But usually casino put some huge balances on their wallet that's why we can see them continue operating and can able to pay their winners despite of how huge the fee occur and what price if you are concern about this placed at that time.
We can still see people gamble even if the fee is so high so I guess they are those individuals which doesn't care much about the fee and they only want to have fun. But other convert to stable coin since this is there way to continue to have fun on the gambling sites they usually play.
It's not a new issue in crypto market. From times to times it always happens and people always complain, but in fact it's a good thing, because it means the market is warming again. Meanwhile you can use altcoins to make your transactions paying cheaper fees. That is not a scenario which may last for a long time, so be patient because things will go back to normal again soon in BTC blockchain, once miners spot the high profitability potential of the network through operating on the resolution of transactions, decreasing congestion and increasing fluidity, so transactions' costs can finally return to cheaper prices.
Well, we cannot do anything on this unless there is an option to use stable coins to gamble. Bitcoin and majority of tokens are in huge pump right now which made the transaction fees bigger than the usual. In these instances, I tend to just hold my funds in my account until the fees drops and until I needed the money which would made me accept high fees. This is why I am only using stablecoins. However, the market price of cryptos won't continously and consistently increasing forever which is why my option is to just wait for things to ease down including transaction fees. But there are also times I just withdraw despite of high fees especially if I have a decent amount of winnings; fees would be always a part of online gambling.
do people still gamble with these high tx fees?
The high Tx fee may only be able to discourage gamblers who are not core gamblers, The core gamblers will always find a way around it so they can keep gambling. Some of them may not even consider the high tx fees because they cannot afford to not gamble. This can be a sign of secondary addiction, which is a kind of problem. Asides the high Tx fee, they is also the fact that bitcoins value is increasing and many hodlers will remain unwilling to want to take risks with gambling with the bitcoins they have.
Easiest answer is: they convert to other coins that doesn't have as much fees as bitcoin in current times. This is the only solution that I see is viable for people and gambling platforms to continue transacting without shouldering the cost that each transaction entails. Also, you could be right that they are offsetting the overall expenses they are incurring with the fees with something else, such as other profit funnels that they have established.
I'm just wondering how crypto casinos are able to cope with this high Tx fees.. cus definitely, they'll have a decreased transaction rate.. anyways, I understand the fact that they've got so many ways to cover up whatsoever.. maybe digital sales? Etc.. that'd also equat atleast 11/3 of the usual influx.
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??
Sandra 🧑🦰
do people still gamble with these high tx fees? Is the current congestion in the mempool a motivation to some set of gamblers? that they might likely get fortunate since alot of gamblers won't wanna evade the high fees??
Sandra 🧑🦰
Jump to: