Gambling sites and current transactions fee - page 6.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Isn't that normal fee on an exchange for Bitcoin withdrawal? Usually it was about $20 if I am not wrong but with the recent surge in BTC price the fee looks higher or they using dynamic fee structure now?

But what is the connection between exchange withdrawal and gambling site suffers due to high transaction fee?

If I am not wrong most users don't send funds directly from exchange to gambling sites or vice versa because its not smart to not to have hold on atleast one end with our funds.

Sunderland

sr. member

Activity: 1439

Merit: 380

Bitcoin Casino Est. 2013

Quote from: kenshi222 on December 07, 2023, 10:43:57 AM

- snip -

This is not the new phenomenon in the cryptocurrency,but if we come to the gambling it will be the hardest part now.If we find the other exchange which will help our current situation will be the better option.But with my investigation I had not found any exchange with less fee.Many of us using the binance for the trusted position,but they trying to earn money at the hardest time like gambling deposit.The gamblers should now on hold their money in the gambling site will be the best option we have now.

Lets make it simple, why dont you swap it to other coins such as TRX, USDT (TRC20, BEP20), XRP, LTC, Doge, Solana or even BCH then use it to deposit on any casino.
Different story if you keep the BTC on your personal wallet, not Binance.

Holding the money on the casino is not wise either, especially when you are a degenerate gambler. In the end you might lose all the money before the fees back to normal.

kenshi222

legendary

Activity: 1064

Merit: 1000

Leading Crypto Sports Betting & Casino Platform

Quote from: 0t3p0t on December 07, 2023, 12:47:40 AM

Well, I think the best thing to do here is to wait and hodl if you had no other choice like Altcoins that offers cheaper transaction fees. For me, Doge, XRP and Shiba Inu has direct support from our local e-wallets though I am not sure if these coins are supported by the gambling site because most of the time they only accept Bitcoin.

It’s true,we need to wait for the current situation.But the problem here was the gambler will suffer to play their game in the gambling.If the gambler was the gambling addicted person,then you need to think about it.They will ready to pay the fee for each transaction in the exchanges.In the gambler had won the money along with the fee means it will be the better one,if he had failed again with the transaction fee.This was important one here and we need to wait at the end.

Quote from: piebeyb on December 07, 2023, 10:03:27 AM

I think everyone already knows that when the price of bitcoin increases, it will create a pile of more and more transactions so that in the end the blockchain network is busy getting confirmation and transactions are put into blocks, at least using transaction fees which are not cheap, this also happens to Ethereum, not just bitcoin. I'm sure you saw that Ethereum transactions are also increasing.

I know it's very annoying when you have to pay expensive transaction fees for just one transaction, even though we can pay it cheaply when the network is really not busy, but know that at the moment the blockchain network is really very busy so just use another alternative, for example, like a blockchain network. others that use much cheaper transaction fees, after all gambling doesn't just use bitcoin, there are many other alternatives available at the casino, just try it while waiting for bitcoin transactions to get cheap again.

This is not the new phenomenon in the cryptocurrency,but if we come to the gambling it will be the hardest part now.If we find the other exchange which will help our current situation will be the better option.But with my investigation I had not found any exchange with less fee.Many of us using the binance for the trusted position,but they trying to earn money at the hardest time like gambling deposit.The gamblers should now on hold their money in the gambling site will be the best option we have now.

Ever-young

sr. member

Activity: 1288

Merit: 231

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Oshosondy on December 06, 2023, 07:09:28 PM

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

Binance is charging fee on bitcoin transaction excessively. They are really using it to make money for their own pockets.

The high fee isn't Binamve's fault, you make it look like it's only Binance that's charging charging high transaction fees. If it were only Binance that's charging high transaction fees, then users would just simply switch to other exchanges which would then be charging normal amounts for fee. The fee issue is generally everywhere on the bitcoin network not just the Binance exchange.

And then again, Binance aren'tt the ones directly benefiting from this high transaction issue, Binance is just going about their normal daily businesses. The ones who are really benefiting from this high transaction fees are the Miners, because transaction fees are the miners' incentives, so whether transaction fees are high or low, they are the ones benefiting from it and not Binance. Be guided.

piebeyb

legendary

Activity: 2464

Merit: 1039

Bitcoin Trader

I think everyone already knows that when the price of bitcoin increases, it will create a pile of more and more transactions so that in the end the blockchain network is busy getting confirmation and transactions are put into blocks, at least using transaction fees which are not cheap, this also happens to Ethereum, not just bitcoin. I'm sure you saw that Ethereum transactions are also increasing.

I know it's very annoying when you have to pay expensive transaction fees for just one transaction, even though we can pay it cheaply when the network is really not busy, but know that at the moment the blockchain network is really very busy so just use another alternative, for example, like a blockchain network. others that use much cheaper transaction fees, after all gambling doesn't just use bitcoin, there are many other alternatives available at the casino, just try it while waiting for bitcoin transactions to get cheap again.

EarnOnVictor

hero member

Activity: 826

Merit: 641

Leading Crypto Sports Betting & Casino Platform

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

Bro, I must say I didn't get you correctly. Is it that your account is not independent of Binance or what? Binance is an exchange and of course, not the only way to fund your betting account, you can use other options and will be just fine. The transfer fee of Binance is way too high, it's killing and it could be simply termed extortion as they are in the business, they know how the Mempool work, they can adjust the fee accordingly if they want, and they are also fully invoved in the mining of the block, only that they do not care but make big money. That aside, you can deposit into other non-custodial wallets and get to be making your betting in peace. And if you must use Binance, there is still nothing wrong with that, you only have to be smart with it.

It's not a must you use Bitcoin at this time, you can convert your Bitcoin into another coin/token allowed by your gambling site and you are good to go. By this, you would have settled the issue of the fee instead of depriving yourself of the joy of gambling and also keeping your money to be wasted with Binance.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Do remember, this is not new, it always happens whenever there's a Bitcoin price surge. We are just impatient with the changes that will happen.
Soon, all exchange and gambling sites will adapt to the Bitcoin price and they will change the fees. There's just heavy traffic now and it's better if we don't add to that. Make one transaction that would take advantage of that single transaction fee. Although it's high, if we are not doing it every week or every day then I think it's still a win for us.
Another option is using other coins for gambling purposes. Exchange it first with a platform that has the cheapest trading fees out there.
Or, the best and wisest decision would be to take a rest. It's just gambling, it will never go away, and it will always be there to wait for us to go back and gamble again.
When Bitcoin hits ETF, it will probably calm down for a long time and we will see big changes in tx fees.

avp2306

sr. member

Activity: 1022

Merit: 363

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

You have three options regarding with that and that is to deal with it since you can't do anything as you still want to continue to gamble using bitcoin since you believe that if you can earn the more money you get since you are also speculating about the bull run. Other option is to exchange it with USDT since most of gambling site have USDT option to choose then you can gamble without worrying any huge fee also you are prone for dumping since you are dealing with stable coin so nothing happens with your deposited funds there. Last option to take is to stop gambling for a while and hodl your funds since its really a waste of many paying extra fees that's why its good to decide to quit and just come back when everything is settled and fees get back to normal.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: Text on December 07, 2023, 06:26:14 AM

Many can relate to your frustration, especially in situations like this. It's disheartening to spend a hefty fee, especially for small gamblers like myself. Just a while ago, I tried transferring from my trust wallet and attempted to change the network fee, but I encountered an error: "Transaction error. Unable to transfer due to dust UTXO error." Now, I can't transfer funds or play. I guess I'll have to wait for things to settle down, so for now, I'm monitoring the network in case the fee decreases.

Yes, we all know the frustrations and seeing the fees going up, earlier it really went down to like 50 sat/vB, although this is still very high for us, but at the current price still very low. But the again, it shoots up to currently, guess what, 386 sat/vB. And with that, it's not logical to used that fee to get faster confirmation as some of us could have won smaller than the fees that we have. So the only thing is to really wait again and timing the mempool to clear at least or just used stable coins if you can or any other altcoins as most online gambling platforms as well supported different coins now.

Wapfika

hero member

Activity: 1288

Merit: 564

Bitcoin makes the world go 🔃

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

-

At some point today, The transaction fee drop down to 4$-5$ level that makes my pending transaction confirmed. I sent the transaction yesterday when I created this thread https://bitcointalksearch.org/topic/m.63279027. I think we should sent in advance our transaction with desired fee because the transaction fee sometimes drop that might confirmed our pending transaction.

Besides, Not all gambler is using Bitcoin with gambling so I don’t see this as major problem to casino since there’s a lot of alternatives with much cheaper fee.

Text

hero member

Activity: 2464

Merit: 594

Many can relate to your frustration, especially in situations like this. It's disheartening to spend a hefty fee, especially for small gamblers like myself. Just a while ago, I tried transferring from my trust wallet and attempted to change the network fee, but I encountered an error: "Transaction error. Unable to transfer due to dust UTXO error." Now, I can't transfer funds or play. I guess I'll have to wait for things to settle down, so for now, I'm monitoring the network in case the fee decreases.

Quidat

hero member

Activity: 2688

Merit: 540

DGbet.fun - Crypto Sportsbook

Quote from: MusaMohamed on December 07, 2023, 06:05:51 AM

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.

Bitcoin blockchain is not good for money transactions, hate to say this but it is true. Nevertheless, if you have money for gambling, you don't have to move your money from a centralized exchange or a gambling site anytime. It relates to your fund management too because I will like to diversify my portfolio to different assets like fiat currency, stable coins, Bitcoin and altcoins that can give me cheap transaction fee like Litecoin or Dogecoin.

For people, traders or gamblers, who have to move bitcoin during this expensive time, they have to learn and manage their portfolio better to avoid losing money for transaction fee.

If you are someone who do make use of Bitcoin on the time that you do gamble and actively sending out from your wallet to gambling platform? It is really that too costly for the current fees that we do have as of this moment but we know that this isnt something that very often. Just like you do say that whenever the network do have this congested situation then it cant really be denied that it do really sucks on making some bitcoin transactions which the fees were too high and confirmation of transactions is really that too slow. If you are that someone whose really that making some
transactions and needing it asap then you would really be making yourself get delayed because of the current market condition. This is why it would just normal
that people would be finding out other alternatives.

MusaMohamed

sr. member

Activity: 966

Merit: 306

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.

Bitcoin blockchain is not good for money transactions, hate to say this but it is true. Nevertheless, if you have money for gambling, you don't have to move your money from a centralized exchange or a gambling site anytime. It relates to your fund management too because I will like to diversify my portfolio to different assets like fiat currency, stable coins, Bitcoin and altcoins that can give me cheap transaction fee like Litecoin or Dogecoin.

For people, traders or gamblers, who have to move bitcoin during this expensive time, they have to learn and manage their portfolio better to avoid losing money for transaction fee.

Dave1

hero member

Activity: 1414

Merit: 542

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

I would agree that this is not to be expected by any bitcoin related services, like exchanges and online gambling sites. But it's what it is right now, nevertheless I believed that the high fees can't sustain this kind of run, I mean it was obvious that this is a deliberate attack on the mempool by some entities or the people behind Ordinal or whatever you call it.

I don't see that being back in the bear market will reduce the fees, again the reason for the increased is the whole ordinal thing. If they will simply stop then we will be back to normal with less than 5 sat/vB to make a good transaction and be included in the next block.

n00ber

sr. member

Activity: 588

Merit: 253

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

My decision may be seems revolutionary one,but the fact is the same transaction fee will be reduced when the market back to the bear standard.The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin.I had some arguments with my friends with whom we meet on every weekend.They also had the opinion of hold their money in the exchange till the market fee back to the normal one.So what your standard for the current transaction fee of bitcoin.

At first, I also traded on Binance and saw they offered free transactions. But the truth is that when I traded, I lost a fee. Did they deceive the players?
Bear season does not reduce transaction fees. Only the net profit for players makes them forget about the costs they have to pay to the exchange. I believe that in the coming time, many more exchanges will be born. They will continuously compete with each other to win the hearts of customers. The beneficiaries are probably the customers, who will have to reduce transaction fees to keep their customers.

Strongkored

legendary

Activity: 2814

Merit: 1112

Leading Crypto Sports Betting & Casino Platform

Quote from: komisariatku on December 07, 2023, 12:09:58 AM

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

Now the gambling site was in the trouble because of the high transaction fee by the exchanges like the Binance.It was unacceptable one for the gambler to pay 26 dollars to withdraw funds from the Binance.Being a gambler,my opinion is to hold till the money in the exchange itself.Surely we get the profit from the gambling site,if we follow some techniques in the gambling site.But my point is why we need to pay the exchange fee of 26 dollars for the single transaction.

I think there is no problem if we want to make a deposit to a gambling site if we already have bitcoin on Binance. We just exchange it for Tron or Doge and we can deposit to the gambling site at a low cost. If the bitcoin we have is still in the Electrum wallet, that is a problem because we don't have the option to exchange it for altcoins, so inevitably we have to pay high fees if we want to deposit to a gambling site.

Yes, you are right, the problem at the moment is those who store Bitcoin in non-custodial wallets because of transaction fees and exchanging it to an exchange is not a solution because you still have to send it first, which means it requires fees.
What is quite worrying is that the current situation makes gamblers think that saving it at an exchange or casino is the right choice to avoid high fees even though that is not very appropriate, especially if the funds stored there are quite big which will make the gambler lose the money due to other things whose losses are greater than the current fees.

_act_

legendary

Activity: 1064

Merit: 1298

Lightning network is good with small amount of BTC

Quote from: kotajikikox on December 06, 2023, 08:02:02 PM

This is the reason why I always keep gambling funds inside my gambling site accounts , yeah I leave small funds in each casino that I love to play being ready for this kind of situation .i have learned this many time before and yes now I know how to manage congested market.
so this may be lessons for those who loves to gamble when they have time to try let your small funds inside the site(of course like investing only the amount you can afford to lose) so you have multiple target , to have gambling funds ready? or to use as Holding amount.

But let us be truthful because gamblers are most likely to add more funds to their gambling account as the old funds is exhausted and gone. Are you sure that your gambling funds on the gambling sites are not used up and you will want to add more funds? Gamblers will just prefer to use altcoins this time because they still and always have cheap transaction fee. As my coins has been used up with losses, I have been using altcoins instead.

Quote from: Helena Yu on December 07, 2023, 01:05:07 AM

The first thing that I don't understand is, why you sounds like Bitcoin is the only one cryptocurrency that can be used to gamble? there are a lot cryptocurrency out there with cheap transactions fee, TRX is one of the example where you can send the coins without any fee as long as you stake some TRX in your wallet.

There are sites that are supporting altcoins like Tron. Tron is even common on most crypto gambling sites.

Helena Yu

hero member

Activity: 742

Merit: 633

The first thing that I don't understand is, why you sounds like Bitcoin is the only one cryptocurrency that can be used to gamble? there are a lot cryptocurrency out there with cheap transactions fee, TRX is one of the example where you can send the coins without any fee as long as you stake some TRX in your wallet.

alastantiger

sr. member

Activity: 574

Merit: 310

Quote from: kenshi222 on December 06, 2023, 07:03:58 PM

My decision may be seems revolutionary one, but the fact is the same transaction fee will be reduced when the market back to the bear standard. The bull run give huge dollars to the trader who hold from the 31k market price of the bitcoin. I had some arguments with my friends with whom we meet on every weekend. They also had the opinion of hold their money in the exchange till the market fee back to the normal one. So what your standard for the current transaction fee of bitcoin.

I like the opinion of your friends. This is the most logical thing to do. Another thing you can do if you use a softwallet like bluewallet is to monitor the times when there is low activity on the network like towards the midnight and early in the mornings. You can take advantage of those times. Have you thought of using other substitute of bitcoins that has very low transaction fee. There are no consequences to using them as long as they accepted by the casino.

0t3p0t

sr. member

Activity: 1736

Merit: 357

Peace be with you!

Well, I think the best thing to do here is to wait and hodl if you had no other choice like Altcoins that offers cheaper transaction fees. For me, Doge, XRP and Shiba Inu has direct support from our local e-wallets though I am not sure if these coins are supported by the gambling site because most of the time they only accept Bitcoin.

Topic: Gambling sites and current transactions fee - page 6. (Read 858 times)