No gambling today due to bitcoin high transaction fee. - page 5.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Barikui1 on April 28, 2024, 02:56:37 AM

And as for me gambling today, I did that in our local betting shop, because when paying with Bitcoin with the kind of amount I normally use in gambling, I find out that I mostly pay more, when transaction cost is being added, so I prefer paying with fiat when gambling.

An added advantage of having a physical casino neat where you live and accepts fiat money as well is never a bad thing. While the fees have come down they are still a bit on the higher side and such surges are happening often due to many reasons Ordinals and Runes included. For serious gamblers, one method could be topping up your account once a month when fees are low and then playing on that without any further deposits, confirming both bankroll management and fixing the gambling budget without the headache of upcoming fees surge.

Another option is to use altcoins, but if you have not converted them to altcoin already then you might not want to do that during a fee surge.

moneystery

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Quote from: Rampagoe004 on April 26, 2024, 12:32:29 PM

....

I have some bitcoins in some casinos. And after the halving I saw very high transaction fees and of course that would be very detrimental. I'm not a gambler who wants to win jackpots or big bets. I just want to have fun from gambling. So I didn't send my bitcoins after the halving because of the high transaction fees. Withdrawal fees are also very high but as I said at the start, I only gamble for fun so I rarely make withdrawals. But I see the withdrawal fees are very high. This is a difficult situation for gamblers with bitcoin. But I'm sure some users have altcoins in their accounts.

gamblers should learn from the case some time ago where bitcoin fees increased unreasonably due to traffic congestion on the network. it is indeed better to gamble with bitcoin, but casinos also provide altcoins which can be used by gamblers for their gambling, so that gamblers can continue gambling regardless of whether the bitcoin network is congested or not. and gamblers shouldn't have too much of a problem with this, because it's just a matter of habit.

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Quote from: Coin_trader on April 26, 2024, 08:04:56 AM

Quote from: Wind_FURY on April 26, 2024, 12:40:58 AM

But the fees has already reduced. It's currently at 40sats/vB - 45sats/vB. That's low enough for many users. Plus I believe we had that level of fees before Runes was released during Block 840,000 - the halving block. Make your transactions now before it surges up again. Cool

The fee is currently at 2$ (31sat/vB). I notice that the fee usually go low on this level at night on my time zone for a consecutive days already. Probably there’s only few user inscribing on the blocks during this time slowly surge up again in the morning.

Quote

Did the fast normalization of on-chain fees after Runes' launch indicate that it's not as successful as Ordinals? Ordinals made the fees surge high for two months.

I think Rune is worst since the price of Bitcoin is already high while the value of fee in sat is the same. I remember I can still send some transactions back then since the fee is just around 5$ to 10$ range during the ordinals which is bearable compared to the current fee on Rune which is insanely high.

How many transactions? I would definitely consider that mere luck. I had 45 sats/vB - 55 sats/vB transactions during the Ordinals "spam" and waited for more than two weeks before they got confirmed in the blockchain.

Ordinals was simply more popular with speculators and collectors because it was unexpected/surprised everyone. Runes was expected, and Ordinals users simply didn't care for the upgrade. BUT wait when the four-character ticker names and less become available.

SmartGold01

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Most times there are people who do fund their account for advance purpose maybe when they win in their bets they keeps some fund back to the account, especially now that bitcoin gas price has really surge. Although you can also use another alternatives to gamble such as using altcoin to make deposit after which the gas fee reduces then you can start using your bitcoin to deposit then gamble.
There is no way someone would pay $20-50$ fee to deposit $10 worth of bitcoin, then how much are they gonna make from there knowing too well that gambling is a game of luck and not a game of certainty whereby you could decides to bear the risk and make deposit after which you can cover up your expenses along the line.

Barikui1

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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 think the transaction fee went above more than 150usd that day that the halving event took place, but as of today, it has normalize a little bit compared to the past week, and it's high time something should be done about this high fee of a thing, because we are all hoping for more adoption of Bitcoin worldwide, so what if people start adopting Bitcoin worldwide, and the numbers of transaction increase more than how it is today, how are we going to make transaction, without our money getting stock in the mempool due to high numbers of people doing transaction on the same day? This are question the developers of Bitcoin should be answering for it fans like us technologically, to make it adoption process much easier than today, because the high transaction fee is really a menace that needs to be addressed for the benefits of Bitcoin.

And as for me gambling today, I did that in our local betting shop, because when paying with Bitcoin with the kind of amount I normally use in gambling, I find out that I mostly pay more, when transaction cost is being added, so I prefer paying with fiat when gambling.

LUCKMCFLY

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Quote from: South Park on April 27, 2024, 02:55:13 PM

Quote from: AbuBhakar on April 27, 2024, 11:50:18 AM

I still didn’t try to gamble using Bitcoin but is the casino already updates the withdrawal fee to the current rate? Some casino use flat rate on withdrawal fee which is huge amount in Bitcoin that’s why I always hate using Bitcoin to deposit.

Even though the current fee is already small, Your balance might get trap on the casino once the withdrawal fee is not setup as dynamic based on the current fee so it’s better to always check the actual withdrawal fee before you deposit your Bitcoin to avoid having trouble during withdrawal.

Some casinos try to use the withdrawal fee they charge to their customers as a small money maker, charging way more than what the network will charge them to get a fast confirmation, so whenever you notice something like this you need to be careful, as you do not know in what other ways that casino may be interpreting the rules to their convenience and giving itself undeserved profits, and quite honestly whenever I detect this happening I seriously question myself about to still use such a casino.

Well, when it comes to bitcoin and transaction fees, in many cases the casino should implement other types of strategies, an internal exchange that can take it to USD, for me that is the best way out, of course and my idea, there are casinos that when they do that they get more customers , because of course when the transaction fee is very high, for players who make little money because they can't repeat, sometimes the fee is too high, and that's where they start to lose customers, because Everyone wants to have bitcoin and bitcoin is the most viable way to have our money, and what better than having it in exchange houses, in casinos and betting and earning money through bitcoin.

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Quote from: South Park on April 27, 2024, 02:55:13 PM

Some casinos try to use the withdrawal fee they charge to their customers as a small money maker, charging way more than what the network will charge them to get a fast confirmation, so whenever you notice something like this you need to be careful, as you do not know in what other ways that casino may be interpreting the rules to their convenience and giving itself undeserved profits, and quite honestly whenever I detect this happening I seriously question myself about to still use such a casino.

Then you need to check whether the fees charged are quite standard or not.
If indeed the fees charged are more expensive, it may be so that transactions can be processed faster and depend on how the bitcoin network is at that time.

A few days ago I also made a withdrawal at one of the casinos by charging a fee on the total amount of withdrawal and the fee required is approximately around $6 depending on the transaction fee at that time.

It takes quite a long time because the network is very congested,
but it doesn't matter when the transaction does not charge too high a fee or according to the standard fees that exist at that time.

Usually there will be a choice whether you want fast or moderate transactions, because there will be quite different fees.
Now transaction fees are quite cheap, ranging from $2-$3 and usually some casinos use medium priority for default transactions so that it is not too long.

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Quote from: AbuBhakar on April 27, 2024, 11:50:18 AM

I still didn’t try to gamble using Bitcoin but is the casino already updates the withdrawal fee to the current rate? Some casino use flat rate on withdrawal fee which is huge amount in Bitcoin that’s why I always hate using Bitcoin to deposit.

Even though the current fee is already small, Your balance might get trap on the casino once the withdrawal fee is not setup as dynamic based on the current fee so it’s better to always check the actual withdrawal fee before you deposit your Bitcoin to avoid having trouble during withdrawal.

Some casinos try to use the withdrawal fee they charge to their customers as a small money maker, charging way more than what the network will charge them to get a fast confirmation, so whenever you notice something like this you need to be careful, as you do not know in what other ways that casino may be interpreting the rules to their convenience and giving itself undeserved profits, and quite honestly whenever I detect this happening I seriously question myself about to still use such a casino.

AbuBhakar

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Quote from: Awaklara on April 27, 2024, 11:33:59 AM

Quote from: Mahanton on April 27, 2024, 11:25:05 AM

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yes, the situation has improved. We don't need to worry about incurring too many transaction fees for deposits to casinos using Bitcoin. Moreover, most casinos also accept Altcoins and stable coins in some networks.
Casinos provide convenience, but perhaps those who don't have altcoins in their wallets will find it difficult in the situation we experienced some time ago.
Network congestion often occurs, I think almost everyone is used to it and is patient in dealing with the situation.

I still didn’t try to gamble using Bitcoin but is the casino already updates the withdrawal fee to the current rate? Some casino use flat rate on withdrawal fee which is huge amount in Bitcoin that’s why I always hate using Bitcoin to deposit.

Even though the current fee is already small, Your balance might get trap on the casino once the withdrawal fee is not setup as dynamic based on the current fee so it’s better to always check the actual withdrawal fee before you deposit your Bitcoin to avoid having trouble during withdrawal.

Awaklara

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Quote from: Mahanton on April 27, 2024, 11:25:05 AM

It all matters about your patience on the time that the network is really that congested. There are really time or moments that network is really that something like this. There are really that moments
that you would really be making those transactions to be that on pending but somewhat there are really still options that you could really be able to make use like having that some altcoins
deposits considering that most of them or platforms are really that offering these kind of alternatives. This is why if you've seen this kind of availability then these times wont really be an issue.

Now on the current fees that we do have now then its already that going into the floor on which majority of us now is already that fine or happy. 20 sats per byte is still that high
but it is really that much better comparing when you do tend to pay up almost $200 for fee. lol

yes, the situation has improved. We don't need to worry about incurring too many transaction fees for deposits to casinos using Bitcoin. Moreover, most casinos also accept Altcoins and stable coins in some networks.
Casinos provide convenience, but perhaps those who don't have altcoins in their wallets will find it difficult in the situation we experienced some time ago.
Network congestion often occurs, I think almost everyone is used to it and is patient in dealing with the situation.

Mahanton

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Quote from: pawanjain on April 27, 2024, 10:47:34 AM

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?

We have seen such congestions in the bitcoin network earlier as well and the best thing to do in such cases is to wait patiently if you gamble in bitcoin.
You can use altcoins temporarily for gambling until the bitcoin network congestion decreases.
There's no poin in paying such high fees just to deposit money for gambling and then lose it eventually.
This amount can be used for gambling later when the transaction fees are decreased.

It all matters about your patience on the time that the network is really that congested. There are really time or moments that network is really that something like this. There are really that moments
that you would really be making those transactions to be that on pending but somewhat there are really still options that you could really be able to make use like having that some altcoins
deposits considering that most of them or platforms are really that offering these kind of alternatives. This is why if you've seen this kind of availability then these times wont really be an issue.

Now on the current fees that we do have now then its already that going into the floor on which majority of us now is already that fine or happy. 20 sats per byte is still that high
but it is really that much better comparing when you do tend to pay up almost $200 for fee. lol

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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?

We have seen such congestions in the bitcoin network earlier as well and the best thing to do in such cases is to wait patiently if you gamble in bitcoin.
You can use altcoins temporarily for gambling until the bitcoin network congestion decreases.
There's no poin in paying such high fees just to deposit money for gambling and then lose it eventually.
This amount can be used for gambling later when the transaction fees are decreased.

EarnOnVictor

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Quote from: Stable090 on April 24, 2024, 03:33:47 PM

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?

Seriously the mempool is kind of congested, and the transaction fee is really high, if you are a gambler, and you gamble with just little amount of money, spending so much money on transaction fee just to deposit money doesn’t really make sense to me, so it’s just better to stop gambling for now, or if you are having any money in your gambling account, then you can keep on gambling with it pending when the transaction fee is going to drop, and you are going to deposit more money. I don’t think anyone will spend such a high amount of money on transaction fee just because they want to deposit like $20.

Well, don't think, it is happening, people are actually spending money on that high fee, though it is insane to me, but it is happening nevertheless. I am not even referring to this time that the fee has been reduced much lower than $20, I mean when it was still much higher than $100, people were still transacting with Bitcoin, which is crazy. This is evident in the Mempool, so it is not about making it up, it is traceable. At this time that the fee is better, it is easy for people to now deposit through the blockchain, but I can't still do that. I've been discouraged about Bitcoin, so alternative networks are my options now.

Thankfully, Stake has a whole lot of deposit methods, so why waste my time on Bitcoin that the miners have turned to their personal business? It is never by force, anyone can also switch instead of lamenting. And if your gambling platform offers only Bitcoin, switch to another.

Rampagoe004

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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 have some bitcoins in some casinos. And after the halving I saw very high transaction fees and of course that would be very detrimental. I'm not a gambler who wants to win jackpots or big bets. I just want to have fun from gambling. So I didn't send my bitcoins after the halving because of the high transaction fees. Withdrawal fees are also very high but as I said at the start, I only gamble for fun so I rarely make withdrawals. But I see the withdrawal fees are very high. This is a difficult situation for gamblers with bitcoin. But I'm sure some users have altcoins in their accounts.

Pumared

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Quote from: Woodie on April 26, 2024, 08:11:06 AM

Out of curiosity, with most casino's and sportsbooks offering the option of depositing funds besides Bitcoin, do punters/gamblers opt to use BTC over other Altcoins which offer the benefit of faster block confirmation and cheaper fees.. because with Bitcoin to enjoy an expedited service means users paying more in transaction fees which automatically makes it a less likely coin to use if you ask me..and not only because of the halving but fees tend to be on the higher side sometimes...

Exactly, this is why it is so important to have a diversified portfolio for moments like this. You could get stuck on someone else's behalf and end up not betting. So, it's always good to have an altcoin with a fast transaction blockchain to bet on. Otherwise you will miss out on a lot of gaming opportunities.

Woodie

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Out of curiosity, with most casino's and sportsbooks offering the option of depositing funds besides Bitcoin, do punters/gamblers opt to use BTC over other Altcoins which offer the benefit of faster block confirmation and cheaper fees.. because with Bitcoin to enjoy an expedited service means users paying more in transaction fees which automatically makes it a less likely coin to use if you ask me..and not only because of the halving but fees tend to be on the higher side sometimes...

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Quote from: Wind_FURY on April 26, 2024, 12:40:58 AM

But the fees has already reduced. It's currently at 40sats/vB - 45sats/vB. That's low enough for many users. Plus I believe we had that level of fees before Runes was released during Block 840,000 - the halving block. Make your transactions now before it surges up again. Cool

The fee is currently at 2$ (31sat/vB). I notice that the fee usually go low on this level at night on my time zone for a consecutive days already. Probably there’s only few user inscribing on the blocks during this time slowly surge up again in the morning.

Quote

Did the fast normalization of on-chain fees after Runes' launch indicate that it's not as successful as Ordinals? Ordinals made the fees surge high for two months.

I think Rune is worst since the price of Bitcoin is already high while the value of fee in sat is the same. I remember I can still send some transactions back then since the fee is just around 5$ to 10$ range during the ordinals which is bearable compared to the current fee on Rune which is insanely high.

Jawhead999

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Quote from: Wind_FURY on April 26, 2024, 12:40:58 AM

But the fees has already reduced. It's currently at 40sats/vB - 45sats/vB. That's low enough for many users. Plus I believe we had that level of fees before Runes was released during Block 840,000 - the halving block. Make your transactions now before it surges up again. Cool

Did the fast normalization of on-chain fees after Runes' launch indicate that it's not as successful as Ordinals? Ordinals made the fees surge high for two months.

Yep, it was around that, few weeks before halving the fees was only less than $1 like 7-9 sat/vbyte.

We still don't know how fast they will develop and launch new "variation" because it was start from inscriptions to ordinals and then runes just in one year.

But yeah, @OP should gamble today since the fees is no longer that high. Cheesy

Wind_FURY

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Quote from: kotajikikox on April 25, 2024, 08:14:00 AM

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?

there are so small chance that the fee will reduce anytime soon because it has been running now for almost a week now and yeah i even stopped withdrawing or transacting into the bitcoin network.

and indeed that I don't wanted to gamble nowadays as my reserved altcoins to gamble have been loss yesterday lol.

But the fees has already reduced. It's currently at 40sats/vB - 45sats/vB. That's low enough for many users. Plus I believe we had that level of fees before Runes was released during Block 840,000 - the halving block. Make your transactions now before it surges up again. Cool

Did the fast normalization of on-chain fees after Runes' launch indicate that it's not as successful as Ordinals? Ordinals made the fees surge high for two months.

kotajikikox

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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?

there are so small chance that the fee will reduce anytime soon because it has been running now for almost a week now and yeah i even stopped withdrawing or transacting into the bitcoin network.
and indeed that I don't wanted to gamble nowadays as my reserved altcoins to gamble have been loss yesterday lol.

Topic: No gambling today due to bitcoin high transaction fee. - page 5. (Read 1995 times)