Fees!!! - page 6. | Bitcointalksearch.org

dihari

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

I think it's not their business. They don't care about the extreme volatility of bitcoin because they just use bitcoin in lieu of fiat money. Well, that's our risk to using bitcoin.

mrcash02

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You have the option to choose fast or slow transaction, fast you will pay more fees, if so it will confirm faster. Here we are dealing in BTCs, so the price you paid in BTCs has nothing to do with differences compared to fiat price. I agree casinos have nothing to do about it. If you fear this situation, only make transactions when the Bitcoin price is stable or increasing.

HanSchultz

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

You really cannot complain for the delay the network takes and if you are really willing to provide a higher transaction fees then you must notify that particular site and i think most of the site must provide an option what fees people are willing to provide manually as well as defeat prices the exchange calculates,so that people who needs the coins urgently can have their coins soon.

pixie85

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No, they should not be held responsible, especially because the fees change daily. One day you can get fast confirmation with 80s/b and a week later everything under 150s/b makes you wait 2 days. A casino sends your cash and that's it, they never agreed to be sending it instantly and never agreed for a confirmation timeframe. If they did they'd be shooting themselves in the knee, because a bitcoin network can suddenly get spammed resulting in all transaction confirmations to jump to the next day, and then what? Lawsuits because people didn't get their money on time?

Slark

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

No, bitcoin is volatile, extremely volatile, and that is not something that casino or any other bitcoin service can influence.
When users are dealing with bitcoin transactions they kinda must know that already and accept that potential problem.
Blaming bitcoin casino for bitcoin network's congestion and long confirmation times is stupid excuse.

marlboroza

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You can always play in casino which accepts altcoins so you won't have problem with low fee.
If you really don't want to gamble with altcoins and you really want your coins ASAP than play at fortunejack, they are paying large fee for every withdrawal.
Not to mention you can use Bitgo there.

Ayers

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Quote from: LLec on May 26, 2017, 10:54:55 PM

Quote from: Ayers on May 26, 2017, 11:08:01 AM

Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

they don't care i thinl but i know for sure that these service lik exchange and casino have special deals with miners and they can have fast confirmations with very low fee, like 20k satoshi, but anyway when you cash out you have still your bitcoin, just don't sell if the value dropped at that moment, and sell again when it go high

Then can you explain what happened with DirectBet.Eu and why they felt they needed to shutdown their operation?
That would be the sole reason they did it because all those free sends after their customer's bets have settled was too much for them to bear the brunt of the ever increasing fee's the miners were demanding to have their transactions to complete and confirm at a reasonable amount of time. That being within an hour or two and not prolong to 24-48 hours.

probably it's an other thing there, perhaps they have not enough funds to cover their expenditures? a website like a casino isn't free you need money to run it, if they have not enough income from their betting they can shut down and declare banckrupcy, but i see that the website is still working good, so what you are talking about exactly?

chaser15

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

Of course no and obviously it's not. Why the hell they would care for the bitcoin price if the transaction in their site is purely bitcoin, meaning 1:1 no matter what is the current price. Aside from that and if we will disregard my first statement, it's not their fault if while the coins are being sent to a user then bitcoin price fluctuates so much. No one have control over it.

So be it and just deal with that kind of system.

lite

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

No, casino can't be held responsible. what if the opposite happens? price rises a lot, will you then blame casino for not adding appropriate fees? no, right. you'd be glad that tx confirmed late and you sold at higher price than you were going to before.

i think casinos should adapt quickly and increase the fees or let the users select the fees in withdrawal form.

machinek20

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The answer will be no, as long as the casino gives you the money then they are not to blame, and the speed transaction is not the casino fault, so you should also consider the withdrawal and deposit coin speed before you decided to play in that site

boranes

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In my opinion it is better to wait money earned from gambling longer, for example 1 day.
This is why:
When players win they withdraw and most of gamblers are excited and want to deposit again until they lose. Maybe it is better this way, because next day you wont be so enthusiastic.

xIIImaL

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Quote from: pizamoi on May 27, 2017, 12:03:22 AM

The bitcoin price isn't their problem, the same as if you go to a casino in US$ they aren't going to refund you money because it was worth less in Euros by the time the transfer went through.

Not like that, default fees in the concern casino wallet may lower to make fast transaction. Therefore, transaction may be pending for long hours. Wait for a day to complete the transaction. I think as day over. Now you check with the site tech support regarding this. Transaction and network fees will not be dispute from the ongoing transactions.

pizamoi

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The bitcoin price isn't their problem, the same as if you go to a casino in US$ they aren't going to refund you money because it was worth less in Euros by the time the transfer went through.

frowsiter

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You can still get your claimed amount of btc with the same price. If price of btc is dropping then you will receive higher amount of btc. You always have holding option for bitcoin. Gradually you can have more valued bitcoin in terms of your local currency. Also, you can always try cashing out in higher amount so that fees will be nothing up front of your transacted amount. The transaction will also get added value due to price difference between bitcoin and local currency.

findingthemoon

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

You are gambling in bitcoin not in US$ so they have no responsibility over the price of bitcoin. It is also up to you to choose a company that either pays the right fees or allows you to choose the option to do so.

Humanxlemming

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Quote from: jamyr on May 26, 2017, 11:36:22 PM

Most casinos i have played with has several fee option. Just choose the highest so there wont be a problem.

Yeah why not just always pick the highest fees (but as what i expereinces yesterday i withdraw and choose the highest fees but in the meantime as of now it's not still confirmed). So all the casino's owner doesn't seems care becuase it's the blockchain problem not the all casino's owner

timerland

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

No and i am pretty sure that most of the casinos have clauses in their ToS that basically lets them get away with this sort of thing. However you should always avoid casinos that are known to pay little fees compared to the current recommended fees just to save some satoshis on their part, not only is it a hassle to deal with them it also demonstrates that they don't care about their customers.

On Bitsler and other casinos now they allow you to choose your own fees, whether high, low or medium. If that's the case with your casino and you chose medium/low fees because it's your own choice. But if you weren't offered a choice, or chose high and the transaction still didn't confirm, try arguing with the admin/co-admins on the site first. Some of the more reputable ones might give you a bonus on your withdrawal if you asked them.

jamyr

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Most casinos i have played with has several fee option. Just choose the highest so there wont be a problem.

zupdawg

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for me it depends, if the casino charges your withdrawal for the fees then they should send it with that fee so it will be confirmed faster than others, but still i dont think they should be responsible for the price movement, price could go up and down. the question is, are you will to refund some coins if the price spikes?

emberbekas

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Quote from: Lucky7btc on May 26, 2017, 11:00:06 AM

If you cash out by bitcoins at a casino and the casino doesn't add enough fees for fast confirmation. If the price of bitcoin drops a lot. Should the casino be held responsible for the price differences in which you cashed out at and the current loss in btc prices?

They do not have to be responsible because when casino doesn't add enough fees there's a chance for bitcoin price to move up a lot too. One thing they have to do is to change the policy related to fees so that our transaction will get confirmation in a proper time.

Topic: Fees!!! - page 6. (Read 2877 times)