No gambling today due to bitcoin high transaction fee. - page 12.

mindrust

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

Have you thought about using another coin? Litecoin and Doge are available on almost every casino nowadays. Price-wise litecoin has been very stable and its transactions are probably one of the cheapest. Bitcoin used to be cheap and fast but that's not been the case for a while.

https://bitcoinfees.net/

Right now according to bitcoinfees.net, the price for getting in the next block is more than a hundred bucks. That's crazy. Nobody should torture himself like this. $100 big money even for a fairly rich person.

Findingnemo

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

Bitcoin is moving far and far everyday from being used for actual payments, I checked the mempool status by today and really surprised with the fee high than found out it's due to another spam called runes protocol.

Luckily casinos now supports multiple cryptos that can give us from unfair fee for Bitcoin transactions.

LTC might be used more whenever fee hike on BTC blockchain.

Mr. Magkaisa

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

- If the fee is high now in bitcoin and it is also used to play gambling, it is better not to make a deposit or withdrawal. Especially now, if it's expensive, don't do it first to avoid expensive fees.
The others are just calming the traffic or congestion first; that's just the usual thing, isn't it, when it's a bit crowded in the blockchain network? It's only a few weeks, then it will fade away.

And besides this is not an issue actually for the individual gamblers honestly speaking. While the it is congested in the network we can able to continue to play gambling in the casino
anyway, who knows luck will come more to us isn't?

virasog

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

Some people already have Bitcoin on their gambling accounts and therefore they do not need to transfer the Bitcoin to the sites and thus this high fee is irrelevant for them and they can continue gambling with Bitcoin. However, if they withdraw today, they will have to pay a high withdrawal fee, so they can postpone withdrawal for a few days.

Also, I would like to know how many percentages of gamblers, gamble with Bitcoin and what percentage uses the altcoin for gambling. Maybe I will start a poll for that in a separate thread but as per the discussion here on different threads, I believe that most people gamble using altcoins as they are cheap in transactions and also have fast tx speed.

alastantiger

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

Unexpected hike in transaction fees means that I should take a break from gambling this weekend. I know bitcoin is not the only cryptocurrency I can use for gambling but then it is a choice that I am making two take a break this weekend and if things get sorted out by next week I continue. One of the reasons for this height in transaction fee despite bitcoin price remaining almost the same is due to the NFT guys. I don't really understand what they are doing but they do have a hand in this. read it here - https://bitcointalksearch.org/topic/m.63968391

Solosanz

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Bitcoin is not the only currency that can be used to gamble...

Quote from: coin-investor on April 20, 2024, 10:14:46 AM

This is a surprise for us it even went to $200 so if you have the urge to gamble and you only gamble with Bitcoin, the only two options you've got are, wait for the fee to normalize or use altcoins or tokens to deposit and play.

What surprise me the fees is still expensive even though the Bitcoin price isn't moving, so what are actually people doing right now? are they sold their coins because the halving event make them upset? Huh

Even though there are around 5%-10% inscriptions, but the rest are real Bitcoin transactions.

ethereumhunter

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I see the fee increase to $211 or more. It's insane see the highest of the transaction fee that I first time see. It makes me thinks many time to send some bitcoin and I am not sure I will do that right now. I prefer to wait for a while until the fee of the transaction can reduce a lot. I don't wants to use bitcoin to gambling now and if I wants to gambling, I will use altcoin or stable coins. It's not a good idea to deposit using bitcoin just to playing gambling because of the highest transaction fee, even if they have many bitcoins. But we don't knows if some richest gamblers who has many bitcoins still use bitcoin and wants to pay that highest transaction fee because we are different than them. Hopefully, this condition can change soon and not takes too long.

Ultegra134

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I've stopped using Bitcoin for gambling since 2019 or 2020. I find it as a waste of money, why use such a valuable asset for gambling purposes when there are so many alternatives available? I've used altcoins such as Doge or Stellar, but I'm mostly using stablecoins as it's the safest way to preserve your funds. Not to mention that Bitcoin has relatively high fees for minor amounts compared to all other alternatives.

Yatsan

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

I'm only gambling in times like this with platforms accepting other mode of payments that fees won't be high. Fortunately there are many providers who have such feat so I guess my gambling habit is stil the same. But if I would be left with no such option then I'd either take a pause from this activity or just used fiat to bet but not in web 3.0 since I have access in my area. This is a long existing problem to be honest that players have their own ways coping into it.

Quote from: AbuBhakar on April 20, 2024, 09:44:10 AM

Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

I think no one will dare to transfer any Bitcoin funds for gambling since you will automatically lose 50$ or more on fees before you even start gambling on the casino. Only whales that deposit more huge amount can afford to still transact even with this high fee since they can recover easily the fee amount with just one bet.

I still didn’t touch my salary from signature campaign which I usually use for gambling purposes every week. I’m already abstained on gambling for a week due to the high fee. I thought 4$ fee is worst few days ago yet we are hit by this devastating fee fluctuation due to Rune.

Won't be practical and won't be making any sense especially if you are just an average gambler who doesn't bet that much. I would understand those who have large bankrolls who won't be hurt by high transaction fees if they would still continue with what's usual for them. Waiting for now for transaction fees to decrease, would be the best thing to do if you are seeing it as a problem and if you have no other means to gamble.

Fiatless

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

This high transaction fees is really a big problem for small gamblers like me. My best cryptocurrency for gambling is Bitcoin and I am not finding it funny at all. I cannot afford to pay such high transaction fees for my small budget, this means that immediately I finish my monthly deposit, it will only be refilled for next month if the fees have been reduced to a certain level that I can afford. If it doesn't, I might have to take a break until the price normalizes or seek other means of gambling. Selecting an altcoin with less transaction fee or switching to fiat gambling might be options open to me. I think it is just a temporal challenge just like the network experience caused by ordinal inscriptions, it will surely come to an end.

coin-investor

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This is a surprise for us it even went to $200 so if you have the urge to gamble and you only gamble with Bitcoin, the only two options you've got are, wait for the fee to normalize or use altcoins or tokens to deposit and play.

I don't think the first option is acceptable to those addicted to gambling I'm sure the majority will pick playing for altcoins for now, I just wonder when this will normalize the last time we got these high transaction fees was December of last year because of the ordinals and it took over a week before it normalizes, I wonder this time.

Beparanf

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Quote from: Alphakilo on April 20, 2024, 09:53:38 AM

Quote from: bitzizzix on April 20, 2024, 09:34:45 AM

I was also very surprised to see the transaction fees which I thought were crazy and left me with no option to switch to altcoins so I could still gamble on the weekends.

There are so many alternatives to choose from that even the transaction fee is not a problem as much as we way want to make it into. With USDT which is a fine option nothing gets in the way of your fun this weekend.

It depends on where do you store your Bitcoin or what currency you are holding right now. I think the topic is pertaining for those Bitcoin holders that use Bitcoin currencies for gambling.

Yeah, USDT is one the most popular options as an alternative for gambling. Some people use BNB, Doge and XRP for a much cheaper fee and fast transaction speed. But it only possible to use this right now if you have this currency already without the need to convert your Bitcoin first to this currencies. Those people that storing Bitcoin on exchange is probably celebrating since they can dodge the transaction fee by just converting their Bitcoin to different currencies on exchange.

Alphakilo

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Quote from: bitzizzix on April 20, 2024, 09:34:45 AM

I was also very surprised to see the transaction fees which I thought were crazy and left me with no option to switch to altcoins so I could still gamble on the weekends.

There are so many alternatives to choose from that even the transaction fee is not a problem as much as we way want to make it into. With USDT which is a fine option nothing gets in the way of your fun this weekend.

A gambling addict who has made it in most to gamble every weekend would where he does not have the option of an altcoin that is doesn't have any altcoin would go ahead to deposit bitcoin into his wallet regardless of the transaction fee.

He will just rationalize that once he wins from his gambling this weekend, it would cover the transaction fee cost.

topbitcoin

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Yes, bitcoin transaction costs are currently very high, and perhaps for those of us who like to gamble using these coins, it would be a good idea for us to refrain from gambling for a while, or reduce these activities until transaction costs fall again. For now, initially I gambled twice a week, maybe now and in the future I will only gamble once a week.
However Bitcoin is not the only gambling transaction service, as one can still use other e-wallets or use local money to continue gambling. Especially for those who feel quite addicted to gambling.

And if transaction costs do not return to normal, do not decrease, then there is a possibility that those who like to gamble using Bitcoin will switch to using other services with different currencies. But hopefully transaction costs will go down again in the near future, because to be honest, for those of me who like to gamble using these coins, I feel quite burdened.

iv4n

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

...
This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

Transaction fees have been expensive for days, and yesterday they went crazy. But it's nothing new, I usually have some alt on the side that I use at times like this. And luckily there are some wallets & casinos that offer different chains, so we can use that option as well.

I guess these high BTC fees can and are problematic for people who gamble only with BTC. But those who are in crypto for some longer time always have some USDT on a side and can use that for gambling at any time with very low fees on some chains.

Frankolala

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This is the reason why a gambler needs to have a weekly or monthly budget, so that he can deposit it in his casino account to enable him gamble even at a situation like this when we have high transaction fee. I believe this will only last for a short-term.

I can gamble whenever I like, because I use 5% of my weekly pay from signature campaign to gamble, and the casino pays directly to my stake account, which makes me not to be affected by transaction fee when it comes to gambling or moving my coins out of my account. Gamblers will look for an alternative method of depositing into their casino account, because gamblers needs to have fun this weekend.

cryptomaniac_xxx

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Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This high fee is probably due to the 4th halving that was completed. I haven't seen this type of transaction fee this hight.

If you look at https://mempool.emzy.de/, the current transaction fee is over $50 but in the past few hours it was over $100... So if you are a gambler who doesn't gamble that much like your range is only $10 to $100, it's impossible you will choose to gamble today with that very high fees.

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

Yes, we are looking for altcoins right now. Ordinary gamblers can't afford to pay that fee. But the good thing is that we have a lot of options now, even some of the gambling sites are now accepting local wallets so we are all good.

I wonder though casinos that are supposedly paying the withdrawal fees?

They could be scratching their heads with the current fees and not sure if they will still covered the free withdrawal fees or not.

AbuBhakar

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🇵🇭

Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

I think no one will dare to transfer any Bitcoin funds for gambling since you will automatically lose 50$ or more on fees before you even start gambling on the casino. Only whales that deposit more huge amount can afford to still transact even with this high fee since they can recover easily the fee amount with just one bet.

I still didn’t touch my salary from signature campaign which I usually use for gambling purposes every week. I’m already abstained on gambling for a week due to the high fee. I thought 4$ fee is worst few days ago yet we are hit by this devastating fee fluctuation due to Rune.

Japinat

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Quote from: Hatchy on April 20, 2024, 09:36:42 AM

Quote from: freedomgo on April 20, 2024, 08:36:50 AM

This is only for gamblers who use bitcoin as the payment method, how is going today? Who among us here can still afford to gamble?

So many gamblers would have to wait until the congestion at least chill a bit. Not just gamblers but everyone who wants to make a small transaction because I won't want to make use of an equal amount of fee to make a transaction which to me is weird. We are supposed to be celebrating because of the 4 halving but here we are stocked without been able to make use of the Blockchain. I guess this kind of situation will only drive more small investors into using altcoins for now as no one will want to loss such huge amounts for fees. I hope it returns to Normal soon though. Like I said before, this wouldn't be a good time for gamblers who make use of Bitcoin for gambling activities.

I have witness the last 2 halvings but the fee is not as high as the present, so this is not related to halving I guess. Regardless, bitcoin fees are not gonna stay this high forever, eventually it will go down and we can move our bitcoin soon. Personally, I don't gamble using bitcoin most of the time, I choose altcoins specifically the USDT as I don't want my gambling journey be affected by the market volatility.

qwertyup23

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If transaction fees are high, what are the alternatives that can be exercised to continue gambling using BTC?

I have read that using altcoins that are using lightning network may reduce tx fees but are there really alternatives to lower fees in BTC? It sucks to wait but I guess these are just some of the effects of the halving.

While majority is rejoicing for the 4th BTC halving, the negative effects of it are the high tx fees that only a few can afford. Imagine paying $50-$100 on a single transaction only to lose that money quickly in your gambling games. So can we also conclude that BTC halvings can have a negative effect on overall transactions (which necessarily includes gambling)?

Topic: No gambling today due to bitcoin high transaction fee. - page 12. (Read 2004 times)