Topic: No gambling today due to bitcoin high transaction fee. (Read 1995 times)

This topic has been around for quite some time, and since Bitcoin fees are no longer high (at the moment), this thread is no longer relevant. Thanks to everyone who replied, but to keep the gambling discussion board clean, I’m locking this thread before the mods step in.

As Bitcoin transaction fees increase, gamblers tend to trade in currencies other than Bitcoin. Apart from Bitcoin, litecoin, ripple, Tron, xlm, Matic, etc currencies have very low transaction fees, so those who are aware and experienced gamblers deposit in these currencies except Bitcoin. Moreover, for those who are constantly betting, no matter how much the transaction increases, they are not worried about any transaction fees, but they always deposit more into the gambling account.

I agree with you that bitcoin should not be used for betting the risk is high as no one can give an exact guarantee of winning in gambling. Long term investment will give better returns than betting with bitcoins. Betting with Dogecoin and other cryptocurrencies has a lower value and a lower risk of loss if you lose. An implicit gamble is a game in which the players have no control over the outcome, so that the only sustainable interest in the game is the thrill or fear of losing money. Of course, dice games are the best of any game that can be played for money.

Can you just wait? Take a look on the mempool today. Everything has returned to day before numbers. Same cheap 2-5sat/b transactions. It was only a splash yesterday and I dont see reason to worry that much about fees. Any gambler can either wait for few days or cryptocurrencies and casinos always offer lots of different deposit options. See nothing bad if a gambler would pause his session for few days.

If they feel reluctant to use Bitcoin, they can use altcoin which already choose by other gamblers so they can reduce the transaction fees and they can keep playing gambling. But the best thing that they can do is just stop for playing gambling for a while in that moment so they can calm down their will from gambling and use their time to do other things that will benefit them. They can back to casino other time when Bitcoin transaction fees reduces a lot so they can use their Bitcoin to playing gambling and not complaint with the high fees of the transaction. That will also help them from the wanting to send some money to their bank so they can delay for a moment until everything is back to normal.

I also used XRP for some time in the past which I see the transaction costs is low compares to other altcoins. Both coins can be an alternative for the other coins if they wants to keep their coins and just waits for the next increasingly.

When they become addicted to gambling, they will not cares about how much money they will use to playing gambling. They will not think that can make them bankrupt fast than they imagine. That is why we must adapt to the current situation and if we see the situation is not good for us to playing gambling, it is better we cancel and check it in the next days. We can back to the casino anytime we want and we don't have obligation to playing gambling daily especially if we have many things to do.

Then I just want to add something to what you mentioned: if a community also believes in Bitcoin in terms of long-term, it is for sure that it will not use bitcoin as an equal in my assessment. Instead, I prefer to use other cryptographic assets to bet.

And most of the time I even use Dogecoin to bet when I play dice games because even a small amount I can bet compared to USDT to bet in my experience. And I can play long-time hours if I used dogecoin as my betting amount in every games.

We actually can't deny how much impact the market can have on our gambling experience especially for those who gamble with crypto because you may win a certain amount at a time and before withdrawal it's already lower than what you had won initially or maybe for the cases of deposits you may have to spend more than usual at some point to get a certain amount of crypto due to the movement in the market, this can at some point be discouraging though you crypto amount may remain constant during all of these transactions but the value can be dropping due to volatility and price action. I still prefer crypto gambling regardless because if you are winning, you are accumulating crypto and in cases of a Bull, you end up withdrawing more than your initial win which isn't a bad deal at all in the long run, some gamblers may actually consider the market movement and use another means of gambling away from crypto.

Rightly said, those who are always in the habit of betting on gambling basically do not care about the transaction fee, no matter how high it is. A professional gambler is aware of all these issues long in advance and deposits dollars in his gambling balance well in advance so that he does not have any problem even if the transaction fees are high. Moreover, for gamblers who are used to betting thousands of dollars, the transaction fee of 10-20 dollars is not an important issue.

You're right, but the thing is that the high fees we are emphasizing on depends on the list of depositing coin in that website, sometimes the coin that maybe listed in the platform you deposit and withdraw for casino platform might not fall into the coins you expected to have a low fee at that moment, I know that litecoin always have low transaction fees even BNB as you categorised as a coin you use to deposit when their is high fees of transaction because the have lower fees compare others, some platforms might not have Litecoin and BNB as options of deposit, and have ethereum and other coins that have high fees,  but a process their is options of litecoin when bitcoin and ethereum fees is high you can use litecoin if you is listed as one of the options,  as I said before that litecoin always have lower fees when others is experiencing high fees.

We cant deny ourself of the gambling experience all because the market is going dip, we are using crypto and should be able to understand the nature of the said digital currencies, when they rises then we are profitable about it and when they fall we should still consider the times whereby they have been rising and we are earning, we cant stop the gambling fun because of the crypto market price at all cost.

Exactly there are coins at there with low fees you can actually use in depositing in casinos, because I fully remembered that most casinos have different options of assets to use when it comes to depositing , like TRX, LTC or BNB etc.

Most of my friends usually make use of TRX and LTC . Because there fees are actually low and also fast when it comes to depositing. But one have coin their balance before they can focus on that one first before thinking of depositing.

I don't wanna speak about it because for sure when it becomes clogged again, that's something that we'll never like once again.

And the same goes for the other networks like the Tron. I think BNB is quite stable and I haven't paid that much fees with it even with the clogging of the other networks.

I haven't done much transactions with the TON but we will see how it will be tested soon.

This is more reason why I do argue with people that no matter how we like Bitcoin and see it as the best coin to ever exist, it doesn't mean is the best because a best is close to perfection but look at ordinary transaction a user can't make confidently due to congestion delay in transaction comfirmation especially when you don't have much to pay for transaction fees. The asking fees sometimes can help you get something if you wager that amount in a poker game.

As for the ethereum network, many people claim that the fee is low but I want to see how the network is going to be when it is tested with huge volume especially like the transaction volumes it was having in the last bull run. I think layer 2 scaling has help them reduce their on chain number of transactions too but it will better when it is tested with huge volume of transaction like Ton saw the other day with Dogs tokens.

I also don’t like using bitcoin most times because I could just save my coin and continue using usdt, I could remember a topic about bitcoin and our approach towards bitcoin, bitcoin is an asset and we should treat it as one. It’s also not a must we should gamble always when bitcoin transaction fee gets high for those who feel the need to gamble always. Also most gamblers store their coin in an exchange or the betting site that’s understandable but, in most situation when a gambler is stranded with no option i will advice they wait for awhile.

I think everyone is also smart in such situations, especially if our gambling nominal is not large, it is very detrimental to have to pay high network fees when the bitcoin network is congested, besides that transactions will slow down busy, it will kill the desire to gamble if forced to play using bitcoin.

If in the proverb that I believe in, that is, in doing something must be conditional if road A is bad then find another easier way, and yes here the role of altcoins becomes very important to make deposits, and this is also important for casinos to provide many altcoins that have easier gass fees for gamblers to make it more comfortable and easier, I agree with you bitcoin has limitations that not everyone can afford such as paying expensive transaction gass fees when the bitcoin network is very busy.

Still if they have BTC on the exchange then the withdrawal fees will be expensive but the asset solution there can be converted to other altcoins that are cheaper in withdrawal fees then it doesn't matter.
Even if you have Btc in your personal wallet, you don't have to worry anymore because the sending fee is already low and this is not enough to worry about them.

Actually, there are some casinos whose withdrawal fees are free and some that set them low according to the density of the mempool.
But for gamblers it is not a problem because withdrawal fees are not so expensive for now.

Bitcoin high transactions fees have minimal impact on our gambling schedule and this is because we have loads of other alternatives to chose from, if the Bitcoin network become congested, we have other altcoins that could serve that purpose of making the deposits and even withdrew at regular intervals without any issues.

So at that point, there is no need to rely on Bitcoin to gamble anymore, all what you can do is to make sure that you have the needed alternative to Bitcoin to make your transactions on and by so doing you are making everything possible to position yourself in the right cause of things,  because if you rely only on Bitcoin to gamble, you will be having a lot of limitations.

Those are indeed notable days on which the fees did really hit up that all time high on which as far as i remember it did reach out $200 transaction fee which this is really that high.
We've been used to 1sat/byte or max of 10 on which this is really just that too cheap and if ever there would be that network congestion for whatever reason it would be then it would
really be causing up that kind of fee rise. For those people who are really that mindful about cheap fees would really be that always have something to say whenever it would be having those
kind of rise on which its not shocking thing. They would really be not wanting for the fees to be that high but if you are someone who do have tons of bitcoin or whatever coin you do have
then you dont just care on what the fee would be.

This is why someone needs to have more than one alternative in every of their daily activity, mostly if they make use of the particular thing almost everyday.
However, let say you are a Bitcoin investor, and we know that for a start you will need an exchange to purchase Bitcoin. And after your purchase before you can send your Bitcoin to any wallet of your choice.
If you have an exchange and you also have a fiat in your bank account you can easily buy any stable coins of your choice (if it's listed on the gambling platform you used) and deposit into your betting account.

Yes for now Bitcoin transactions fee is low and gamblers don't need to convert their Bitcoin to any altcoins before they can gamble because Bitcoin transaction fees is @9-sat for now. But am just saying this probably because a time might come when Bitcoin transaction fees will be high and gamblers that are using their Bitcoin to gamble will not either have the chance to deposit Bitcoin into their crypto Betting account. And all they will need to do is either to take a break for a few days or use an altcoins to gamble.