How do you deal with high transaction fee on BTC on gambling? - page 2.

piebeyb

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Quote from: Z390 on December 08, 2023, 05:03:44 AM

I will keep buying Bitcoin only because it's a good store of value but using it as payment or in business payment solution isn't going to work out well, even if you manage to confuse your customers, once they see that Bitcoin transaction fee is higher than Fiat they will opt to Fiat instead.

Good choice, Bitcoin may currently fail to be a means of micropayments but bitcoin can still be successfully used as a means of transaction in large amounts with low transaction fees, so currently it will not be convenient for microtransactions or small transactions that may require high fees from the amount transactions, that's why bitcoin is not suitable as a means of payment at this time because the costs are quite expensive.

But bitcoin can be a good hedge or investment for anyone who keeps it in their wallet and not for transactions as a means of payment online, we know that fiat payment transactions are much lower for micropayment transactions than bitcoin, so it's best not to use bitcoin as a means pay, make it an investment asset.

letteredhub

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Quote from: piebeyb on December 07, 2023, 10:51:34 AM

if I were you maybe you should hold it while waiting until the blockchain network is not too busy so transactions become cheaper.

How much time do you have to wait and policing the blockchain network till you see it's reduced in congestion especially when we can't tell for sure at the very time it will decongest. Assuming you have a sports game to bet on like football match and it's to start by the next 30mins, of which some of us don't like betting on live matches. Do you have to continue waiting for the decongestion of the network while time is running out for your games to start?
In my opinion, the use of the lightening network just as other users have suggested is one way out of the high fees. We all knew a time like this will be here as bitcoin price keeps rising so let not act like the situation itook us unexpectedly.

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Quote from: Z390 on December 08, 2023, 05:03:44 AM

What's the point of using Bitcoin for gambling right now? You are not going to win if you use Bitcoin so why is using Bitcoin for gambling so important? Just use something else, we have altcoins that are acceptable on casinos and they have way lower feel than Bitcoin, I have stopped using Bitcoin, at this junction right now it's better I keep my Bitcoin and keep holding.

It’s not about using BTC and making it easier to win, there are people who love BTC and that the only currency they make use of so far as crypto is concern they don’t like getting their self involve with other currency and their are also casinos which what you use in depositing and what you use in playing is what you will be paid back with, so they see using BTC to deposit and gamble as means of multiplying the little that they are ready to put at risk it’s as simple as that, if they are lucky enough to win more from their gambling they will have to withdraw that their winning and add it to what they are already holding on their wallet, it’s not different from gambling with fiat or any other currency that you prefer to use just that the fee is making this difficult now, which is forcing people to make use of other options.

Z390

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What's the point of using Bitcoin for gambling right now? You are not going to win if you use Bitcoin so why is using Bitcoin for gambling so important? Just use something else, we have altcoins that are acceptable on casinos and they have way lower feel than Bitcoin, I have stopped using Bitcoin, at this junction right now it's better I keep my Bitcoin and keep holding.

It would have been a big problem if Bitcoin is the only digital currency that's acceptable by these casinos, but you can use Doge, LTC and Trx too, they have better transaction fee than Bitcoin, even using your Fiat to gamble is better than using Bitcoin, it costs too much to use Bitcoin like money, and now that Ordinals is giving miners some money its a big problem for Bitcoin as I don't see how anything will stop Ordinals on Bitcoin now, it's too late.

I will keep buying Bitcoin only because it's a good store of value but using it as payment or in business payment solution isn't going to work out well, even if you manage to confuse your customers, once they see that Bitcoin transaction fee is higher than Fiat they will opt to Fiat instead.

btc_angela

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Quote from: acroman08 on December 07, 2023, 11:27:25 AM

Quote from: Wapfika on December 06, 2023, 09:58:49 AM

How do you deal with this problem?

if you don't mind using altcoin when gambling you can always exchange your BTC into an altcoin. I've used XRP in the past when Bitcoin transaction fees were too high for me, altcoins are a great substitution for Bitcoin if the current Bitcoin transaction fee is too high for you.

Right, there are really a lot of options for us, maybe their could be issues for some who are just into bitcoin gambling. I know it's hard, but we need to learn to used other cryptocurrencies too, even if we are bitcoin enthusiast or maximalist.

However, for me I don't think that the high fees will be sustained. There might be a time that we will be back to normal even if we are in a bull run already. So just be patience for those bitcoin gamblers, for now if we are not that comfortable of the transaction fees, just switch to any altcoins for now.

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Quote from: Wapfika on December 07, 2023, 09:57:57 AM

Quote from: bakasabo on December 07, 2023, 06:18:30 AM

Imo Bitcoin is not suitable for quick transactions in general, so it isnt correct to complain about high transactions fee on gambling. Gambling platforms always offer a bunch of other cryptocurrencies for deposit. Even with mempool being not so overloaded, I prefer not to use BTC for gambling. Because by the time transaction gets confirmed, I dont want or have free time to gamble anymore. With current situation, I would suggest to wait, for example this morning low priority transactions were about 60-70sat only. Or to use alternative cryptocurrency.

If you read carefully my post. I’m not complaining about high transaction on Bitcoin just because I need to use it on gambling but rather I’m looking for ways of alternative solution for the current condition on high fee.

I already mention that I’m gambling using my Bitcoin salary on signature campaign. I’m not asking for the opinion about using other coins instead of Bitcoin because that’s not my intention when I create the thread. Sadly, many users is just stating the obvious without reading the purpose of the thread. Embarrassed

I've got you. Then I would suggest or direct to look for a solution in the wallet you use to operate with BTC you receive. For example Ledger Live offer swap option. Trust wallet also offer swapping. Maybe look into direction of swapping inside wallet for aa altcoin with cheaper transaction? Just be careful and double check if casino you use support that altcoin and blockchain. Perhaps swapping BTC to USDT on Polygon could be a possible solution for cheap and quick deposit.

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone notice how high the current fee right now on Bitcoin network. I’m sure player like me that relying only on signature campaign payment in Bitcoin is having a hard time to play right now since the fee is insanely high.

How do you deal with this problem? Is there any casino that allows no confirmation to deposit? Let’s say I will send my Bitcoin using fee below average and then play while it’s still unconfirmed. I knew that some casino do have instant deposit but I never try depositing much lower fee to the average fee if they will still credit instantly.

I don't deal with it. I just use altcoins or fiat. What's the point spending BTC for gambling, when there's a possibility for the BTC price to hit another ATH? I feel that this question has been asked multiple times in the past. Asking it one more time doesn't ass anything new to the discussion. The Bitcoin transactions fees are going up and down. There will be more transaction fee ups and downs in the future. The gamblers had no problems with high BTC transaction fees in the past. I'm sure that they won't have any problems with high transaction fees in the future.

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Quote from: cabron on December 07, 2023, 09:07:32 AM

It's what I did. USDT BEP20 fee is just $0.50 and it's faster than every altcoin I know that's how I deal with bloated transaction fees and the miners are just picking which transaction they are going to mine. Even if you keep broadcasting the transaction it's gonna be ignored when the fee is just not incentivizing them.

This is why there should have been an internal exchange in the casinos in case you wanted to withdraw a stablecoin instead of BTC which could also take hours.
Good to know they credit the BTC without the confirmation yet.

Now, we are experiencing another increase in bitcoin transaction fees. This will likely make most crypto gamblers switch to using altcoins instead of bitcoin. It is also possible that many crypto gamblers choose to take a break from gambling and prefer to monitor crypto market movements.

Current conditions make many small investors hold their bitcoins in their wallets and not send them to any exchange because transaction costs are increasing again. We don't know how long the transaction costs will drop to normal again. Hopefully, it doesn't take long.

acroman08

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

How do you deal with this problem?

if you don't mind using altcoin when gambling you can always exchange your BTC into an altcoin. I've used XRP in the past when Bitcoin transaction fees were too high for me, altcoins are a great substitution for Bitcoin if the current Bitcoin transaction fee is too high for you.

Wiwo

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone notice how high the current fee right now on Bitcoin network. I’m sure player like me that relying only on signature campaign payment in Bitcoin is having a hard time to play right now since the fee is insanely high.

How do you deal with this problem? Is there any casino that allows no confirmation to deposit? Let’s say I will send my Bitcoin using fee below average and then play while it’s still unconfirmed. I knew that some casino do have instant deposit but I never try depositing much lower fee than the average fee if they would still credit instantly.

On stake, while withdrawing the fees is very low as low as 0.00007 although stake covers the remaining fees to get your transactions confirmed immediately to your wallet, and that is why many times stake users may not complain that much about transaction fees for withdrawal, but then while depositing into your stake account, you must have to use the highest transaction fees to get your transactions confirmed ASAP.

I don't know how it is with other casinos but this I am very sure of in stake since they are the most used casino for me.

CryptoHeadlineNews

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone notice how high the current fee right now on Bitcoin network. I’m sure player like me that relying only on signature campaign payment in Bitcoin is having a hard time to play right now since the fee is insanely high.

I tried transferring BTC from my wallet to my exchange account with a very low fee, and it's been over 30hours now and yet transaction have not been confirmed, but ever since this recent high fee in transaction started, I opted into depositing stable coin (i.e USDT) or altcoins (i.e Tron) to my casino for gambling (i.e Shuffle to be precise) and the deposit was almost instant, far better than depositing BTC whose few is still high, and transactions likely not have been instantaneous.

Hence, I suggest using altcoins now is a bit better now that the mempool is still high

leonair

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone notice how high the current fee right now on Bitcoin network. I’m sure player like me that relying only on signature campaign payment in Bitcoin is having a hard time to play right now since the fee is insanely high.

How do you deal with this problem? Is there any casino that allows no confirmation to deposit? Let’s say I will send my Bitcoin using fee below average and then play while it’s still unconfirmed. I knew that some casino do have instant deposit but I never try depositing much lower fee to the average fee if they will still credit instantly.

Not just casino sites you can't deposit or pay bitcoins anywhere without minimum 1 confirmation. So in this case you must accept high fees to complete the transaction quickly. But late deposits are not desirable for gamblers as high transaction fees are now a big hassle for them. So in this case I think gamblers changed their deposit method like me like I now use TRX to deposit in casino site which helps deposit success in just 2 minutes.

piebeyb

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I think all sites need to ask for 1 confirmation to make the funds really safe whether it's a casino site or an exchange they all definitely need at least 1 transaction confirmation, so you probably can't play before getting confirmation on your bitcoin transaction, if I were you maybe you should hold it while waiting until the blockchain network is not too busy so transactions become cheaper.

If you receive signature campaign payments directly into your wallet, that's the risk because sending money when prices are high and transaction costs are high is a bit difficult if you send a little money but the costs are quite high too. My advice is to wait until you have collected a lot of money in your wallet then You can send it when transactions become cheap or you exchange it to an exchange to use another blockchain that has cheaper transaction fees.

Ever-young

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone notice how high the current fee right now on Bitcoin network. I’m sure player like me that relying only on signature campaign payment in Bitcoin is having a hard time to play right now since the fee is insanely high.

How do you deal with this problem? Is there any casino that allows no confirmation to deposit? Let’s say I will send my Bitcoin using fee below average and then play while it’s still unconfirmed. I knew that some casino do have instant deposit but I never try depositing much lower fee to the average fee if they will still credit instantly.

Yeah bitcoin transaction fees are insanely high and almost too expensive to afford for some people, but there are alternatives you can use when it comes to crypto gambling in other to avoid being charged so much for transaction fees.

1. You can use the Lightening Network, using the Lightening Network is way faster and cheaper when it comes to bitcoin transactions, your transactions don't have to wait for too long before it can be confirmed and you don't have to pay so much for transaction fees or.

2 You can use other cryptos to gamble. There are casinos that accept several other tokens and cryptos as payment and not just bitcoin, you can use other cryptos and tokens to make your deposits and withdrawals. That way you can avoid the high transaction fees and it'll still be gambling as usual for you.

Wapfika

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Quote from: bakasabo on December 07, 2023, 06:18:30 AM

Imo Bitcoin is not suitable for quick transactions in general, so it isnt correct to complain about high transactions fee on gambling. Gambling platforms always offer a bunch of other cryptocurrencies for deposit. Even with mempool being not so overloaded, I prefer not to use BTC for gambling. Because by the time transaction gets confirmed, I dont want or have free time to gamble anymore. With current situation, I would suggest to wait, for example this morning low priority transactions were about 60-70sat only. Or to use alternative cryptocurrency.

If you read carefully my post. I’m not complaining about high transaction on Bitcoin just because I need to use it on gambling but rather I’m looking for ways of alternative solution for the current condition on high fee.

I already mention that I’m gambling using my Bitcoin salary on signature campaign. I’m not asking for the opinion about using other coins instead of Bitcoin because that’s not my intention when I create the thread. Sadly, many users is just stating the obvious without reading the purpose of the thread. Embarrassed

coin-investor

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Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone noticed, how high the current fee is right now on the Bitcoin network. I’m sure a player like me who relies only on signature campaign payment in Bitcoin is having a hard time playing right now since the fee is insanely high.

I never use Bitcoin when playing when my transaction will incur huge fees it's not economical I'm using Tron and Dogecoin this is one of the reasons why casino accepts altcoins in case there is heavy congestion in the Bitcoin blockchain, some gamblers who prefer to play on Bitcoin prefer to just wait for the traffic to decongest.
I think every time there is heavy congestion in the blockchain there is a significant drop in gamblers' activity, I have friends who prefer to wait it out before depositing, they are not comfortable playing with altcoins even though the fee is very low.

But who knows in the future casinos will employ internal exchanges where you can deposit altcoins and convert them it Bitcoin so you can play with Bitcoin, there could be a big demand for this if there is always traffic in the blockchain.

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Quote from: Kelward on December 07, 2023, 05:37:40 AM

Quote from: Oshosondy on December 06, 2023, 11:10:33 AM

Quote from: Wapfika on December 06, 2023, 09:58:49 AM

I think everyone notice how high the current fee right now on Bitcoin network

I left the bitcoin I have on gambling site alone. If I use my weekly budget finish one day, I will pounce on it. But I have enough gambling weekly budget and I leave it alone the old bitcoin budget alone which I have transferred already to gambling site. I am using stable coins and other altcoins like litecoin and tron to gamble now. As for bitcoin, I will not use it until the mempool become decongested.

It shouldn't be a problem, so far a gambler has alternative sources of payments, other than bitcoin, it's to take advantage of stable coins and altcoins, to make deposits. Bitcoin high transaction fees is a big disadvantage for it's usage to make payments for now, due to mempool congestion. It's only advantage for now is perhaps that it's somehow compelling people to keep accumulating and holding, so they'll have surplus to sale and make huge profit, during bull run.

I would suggest the same thing to anyone any day, to use other cryptocurrencies for gambling activities, to pay lower fees, and also to have faster transaction confirmation times when compared to larger cryptocurrencies such as Bitcoin or Ethereum. In times like these when fees are touching the sky, it's best to use stablecoins or cryptocurrencies that charge very low transaction fees so that one doesn't face problems with transaction confirmation in case they can't afford to pay a lot of money in fees.

I also keep wondering why people use Bitcoin for their gambling activities even during bull runs when they can see that the price of Bitcoin and all cryptocurrencies are on the rise and if they lose their Bitcoin in such a time, they will regret their decision later when the price of Bitcoin reaches a higher point.

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Quote from: ethereumhunter on December 07, 2023, 07:42:38 AM

If that happens for a long time, maybe I will use altcoins as I did when bitcoin transactions increased some time ago. But there are times when I decide to take a break from gambling for a while because the transaction fees are still high and I'm also too lazy to convert my bitcoins to altcoins. Everything depends on the situation and conditions and most importantly, it depends on my desire to gamble now or later. Moreover, I don't gamble too often, so by taking a break, I don't have any significant problems.

It's what I did. USDT BEP20 fee is just $0.50 and it's faster than every altcoin I know that's how I deal with bloated transaction fees and the miners are just picking which transaction they are going to mine. Even if you keep broadcasting the transaction it's gonna be ignored when the fee is just not incentivizing them.

This is why there should have been an internal exchange in the casinos in case you wanted to withdraw a stablecoin instead of BTC which could also take hours.
Good to know they credit the BTC without the confirmation yet.

ethereumhunter

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If that happens for a long time, maybe I will use altcoins as I did when bitcoin transactions increased some time ago. But there are times when I decide to take a break from gambling for a while because the transaction fees are still high and I'm also too lazy to convert my bitcoins to altcoins. Everything depends on the situation and conditions and most importantly, it depends on my desire to gamble now or later. Moreover, I don't gamble too often, so by taking a break, I don't have any significant problems.

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Quote from: lionheart78 on December 06, 2023, 06:34:00 PM

Quote from: Wapfika on December 06, 2023, 09:58:49 AM

How do you deal with this problem?

I am using electrum for my wallet and I deal with high fees by adjusting the fee rate, in reference to the mempool fee information and lowering them in a state where it can be easily confirmed once the congestion of the network got resolved .

This seems quite good and can be tried, but I am not an Electrum wallet user for storing any assets I own, and if I use another wallet, will this method be the same?
Due to the increase in BTC transaction costs that have occurred in recent days, I have chosen not to carry out several transaction activities, whether deposits or withdrawals, and for gambling, it might be better to reduce them until the costs can actually return to normal.

Quote from: lionheart78 on December 06, 2023, 06:34:00 PM

Quote from: Wapfika on December 06, 2023, 09:58:49 AM

Is there any casino that allows no confirmation to deposit? Let’s say I will send my Bitcoin using fee below average and then play while it’s still unconfirmed. I knew that some casino do have instant deposit but I never try depositing much lower fee to the average fee if they will still credit instantly.

There are some casinos that have a feature of crediting deposits even without confirmation (regardless of tx fee or even when RBF is enabled) but please be informed that you also cannot withdraw your winnings if the deposit is yet to be confirmed.

Where? what is this casino because so far I have never found casino that has deposit transactions without confirmation?
But isn't that the same because we can make deposit without confirmation and can use the balance to play but to withdraw we need to wait for the confirmation to be completed and this means that it is the same as requiring confirmation to be able to play comfortably.

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