Transactions Fees x Gambling | Bitcointalksearch.org

Stedsm

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Quote from: romero121 on April 23, 2021, 01:50:46 PM

--snip--

In recent days dogecoin got manipulated, even before that with its nominal growth it was within the top 100. XRP on the other hand has undergone lawsuits, but the real-time usage keeps counting. So, these are temporary issues and growth with XRP and dogecoin is sure in the long term.

The more hotter the coins are, the quick they will burn out.
I believe that however these coins are in talks of many investors currently, the fear of losing money on it can't really be resisted by the facts that both XRP (which has a lawsuit and now SEC has started stopping access to people from using Ripple) and DOGE (which can clearly be seen to have been manipulated by Elon Musk) are both having no realistic values atm and can dump any moment if any worst news come up.

dunfida

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Quote from: romero121 on April 23, 2021, 01:50:46 PM

Quote from: Stedsm on April 23, 2021, 01:43:20 PM

Quote from: michellee on April 23, 2021, 10:14:19 AM

--snip--

Not many gambling sites accept XRP, so I think we need to search for another gambling site. We can still use the other altcoins besides XRP, which have a fast confirming transaction.

That's totally correct and I think LTC and TRX are much better options compared to XRP because XRP is stuck in a lawsuit and can go down any day, so even if the gambler makes a big bet and wins but the price gets down, he will suffer due to that. Even Doge can't be trusted in terms of gambling with it because it has also become a puppet of Elon Musk and can get dumped any day so it's better to stay away from these 'shitcoins' and only gamble with what's going to stay here for longer.

Maybe in terms of transaction cost TRX is good. For the same we can't say dogecoin and XRP all gets dumped. Going through the growth chart we can find the growth of these coins are high compared to more cryptocurrencies that are into hot discussion.

In recent days dogecoin got manipulated, even before that with its nominal growth it was within the top 100. XRP on the other hand has undergone lawsuits, but the real-time usage keeps counting. So, these are temporary issues and growth with XRP and dogecoin is sure in the long term.

Actually mattering on the relevance that it do give in the market when it comes to actual usage which we can really say that both project/coins are really capable of.
There are lots of coins to choose on but people do stick out into those popular in the market and actually does have the technicalities when it comes to relevant function.
Fees now are really high and its just right for us to seek out alternatives when it comes to this manner.

romero121

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Quote from: Stedsm on April 23, 2021, 01:43:20 PM

Quote from: michellee on April 23, 2021, 10:14:19 AM

--snip--

Not many gambling sites accept XRP, so I think we need to search for another gambling site. We can still use the other altcoins besides XRP, which have a fast confirming transaction.

That's totally correct and I think LTC and TRX are much better options compared to XRP because XRP is stuck in a lawsuit and can go down any day, so even if the gambler makes a big bet and wins but the price gets down, he will suffer due to that. Even Doge can't be trusted in terms of gambling with it because it has also become a puppet of Elon Musk and can get dumped any day so it's better to stay away from these 'shitcoins' and only gamble with what's going to stay here for longer.

Maybe in terms of transaction cost TRX is good. For the same we can't say dogecoin and XRP all gets dumped. Going through the growth chart we can find the growth of these coins are high compared to more cryptocurrencies that are into hot discussion.

In recent days dogecoin got manipulated, even before that with its nominal growth it was within the top 100. XRP on the other hand has undergone lawsuits, but the real-time usage keeps counting. So, these are temporary issues and growth with XRP and dogecoin is sure in the long term.

Stedsm

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Quote from: michellee on April 23, 2021, 10:14:19 AM

--snip--

Not many gambling sites accept XRP, so I think we need to search for another gambling site. We can still use the other altcoins besides XRP, which have a fast confirming transaction.

That's totally correct and I think LTC and TRX are much better options compared to XRP because XRP is stuck in a lawsuit and can go down any day, so even if the gambler makes a big bet and wins but the price gets down, he will suffer due to that. Even Doge can't be trusted in terms of gambling with it because it has also become a puppet of Elon Musk and can get dumped any day so it's better to stay away from these 'shitcoins' and only gamble with what's going to stay here for longer.

michellee

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Quote from: Kasabus on April 23, 2021, 07:12:23 AM

Quote from: michellee on April 23, 2021, 03:20:52 AM

Quote from: nakamura12 on April 22, 2021, 11:20:42 PM

I understand how you feel as when you want to transfer your eth to other wallet, exchange or a gambling platform but the fees will hurt you. You should try to check the app now and see how much it cost. I have checked it earlier that the fee is now at 0.0363 eth which can really take your fund down. If you want to take your funds out of coins.ph then use the xrp which the fee is even lower than 1 peso. Before you convert your eth to xrp you have to use the coins pro which the buy and sell rate is different than the app.

I agree with you. Using XRP can reduce the fee that we need to pay. But with the XRP price now being down, I guess we need to wait for a while before selling XRP and getting the money back. Maybe if we sell directly after we receive the amount will reduce the money value so we consider what we should do. Maybe there is another coin besides XRP which can help him to reduce the fee.

Not only XRP is down, but most altcoins.. when you are using it for gambling, you don't need timing as the price could dump or pump, all your focus is to win because you are not trading here. Transactoin cost for xrp is very cheap, so you can transac micro amounts anytime and you can do more since below 1 usd is just so cheap at the moment compared to btc where 10 usd minimum is the fee.

A wise gambler will check the situations before they gamble. If they gamble using crypto, they will check the market first before buying any coins, including bitcoin or altcoins. And if they see the altcoin is down, they will buy in a large amount and only use some parts to gamble while holding the rest.

Not many gambling sites accept XRP, so I think we need to search for another gambling site. We can still use the other altcoins besides XRP, which have a fast confirming transaction.

Mahanton

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Quote from: Sanitough on April 23, 2021, 08:05:29 AM

Quote from: hd49728 on April 23, 2021, 07:42:52 AM

I think the Lighning network for Bitcoin will be the best. Bitcoin is strongest cryptocurrency and when the market is dumped, bitcoin has smaller percent of fall if we compare it to most of altcoins on the market.

Bitcoin falls, altcoins are dumped because of panic sell. Bitcoin rises, altcoins might be pumped because of hype.

Altcoins can give cheap and faster transactions but it is only if price won't be dumped during the time before and after you broadcast your deposit transaction.

I wish more people will adopt with the LN so transaction would be fast and cheap, I really like the concept but the adoption is more on the investing side, so this kind of platform will not gain adoption easily. Besides, this transaction fee only increases when the network is congested, so its just temporary.

LN isnt ready yet for global usage but there are still some platform which do make nor do accept LN but still on test phase which it isnt really possible for it to be
integrated on most gambling sites in the market.

Its true that it can really solve out the current problems that we are facing but it isnt really ready yet which means we would still stick out on make use of altcoins
in the market which still make able to perform on how it should be.

Sanitough

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Quote from: hd49728 on April 23, 2021, 07:42:52 AM

I think the Lighning network for Bitcoin will be the best. Bitcoin is strongest cryptocurrency and when the market is dumped, bitcoin has smaller percent of fall if we compare it to most of altcoins on the market.

Bitcoin falls, altcoins are dumped because of panic sell. Bitcoin rises, altcoins might be pumped because of hype.

Altcoins can give cheap and faster transactions but it is only if price won't be dumped during the time before and after you broadcast your deposit transaction.

I wish more people will adopt with the LN so transaction would be fast and cheap, I really like the concept but the adoption is more on the investing side, so this kind of platform will not gain adoption easily. Besides, this transaction fee only increases when the network is congested, so its just temporary.

hd49728

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I think the Lighning network for Bitcoin will be the best. Bitcoin is strongest cryptocurrency and when the market is dumped, bitcoin has smaller percent of fall if we compare it to most of altcoins on the market.

Bitcoin falls, altcoins are dumped because of panic sell. Bitcoin rises, altcoins might be pumped because of hype.

Altcoins can give cheap and faster transactions but it is only if price won't be dumped during the time before and after you broadcast your deposit transaction.

Kasabus

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Quote from: michellee on April 23, 2021, 03:20:52 AM

Quote from: nakamura12 on April 22, 2021, 11:20:42 PM

I understand how you feel as when you want to transfer your eth to other wallet, exchange or a gambling platform but the fees will hurt you. You should try to check the app now and see how much it cost. I have checked it earlier that the fee is now at 0.0363 eth which can really take your fund down. If you want to take your funds out of coins.ph then use the xrp which the fee is even lower than 1 peso. Before you convert your eth to xrp you have to use the coins pro which the buy and sell rate is different than the app.

I agree with you. Using XRP can reduce the fee that we need to pay. But with the XRP price now being down, I guess we need to wait for a while before selling XRP and getting the money back. Maybe if we sell directly after we receive the amount will reduce the money value so we consider what we should do. Maybe there is another coin besides XRP which can help him to reduce the fee.

Not only XRP is down, but most altcoins.. when you are using it for gambling, you don't need timing as the price could dump or pump, all your focus is to win because you are not trading here. Transactoin cost for xrp is very cheap, so you can transac micro amounts anytime and you can do more since below 1 usd is just so cheap at the moment compared to btc where 10 usd minimum is the fee.

michellee

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Quote from: nakamura12 on April 22, 2021, 11:20:42 PM

I understand how you feel as when you want to transfer your eth to other wallet, exchange or a gambling platform but the fees will hurt you. You should try to check the app now and see how much it cost. I have checked it earlier that the fee is now at 0.0363 eth which can really take your fund down. If you want to take your funds out of coins.ph then use the xrp which the fee is even lower than 1 peso. Before you convert your eth to xrp you have to use the coins pro which the buy and sell rate is different than the app.

I agree with you. Using XRP can reduce the fee that we need to pay. But with the XRP price now being down, I guess we need to wait for a while before selling XRP and getting the money back. Maybe if we sell directly after we receive the amount will reduce the money value so we consider what we should do. Maybe there is another coin besides XRP which can help him to reduce the fee.

nakamura12

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I understand how you feel as when you want to transfer your eth to other wallet, exchange or a gambling platform but the fees will hurt you. You should try to check the app now and see how much it cost. I have checked it earlier that the fee is now at 0.0363 eth which can really take your fund down. If you want to take your funds out of coins.ph then use the xrp which the fee is even lower than 1 peso. Before you convert your eth to xrp you have to use the coins pro which the buy and sell rate is different than the app.

Sithara007

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Every 4-5 months, this discussion comes up when the transaction fee is high, but then it gets inactive when the mining difficulty gets adjusted and the fee goes down. What we need is a permanent solution. So here are my suggestions:

1. Make your deposits only once in 3-4 months, to reduce the spending on fee.
2. Keep some alts, such as LTC or ETC in your wallet, which can be used for urgent transactions.
3. Ask your sportsbook to accept more alts for the payment purpose.

ChuckBuck

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better everyday ♥

Quote from: freedomgo on April 22, 2021, 04:04:37 AM

not the phishing site.

Of course, it is always a top priority

Quote from: ReiMomo on April 22, 2021, 04:52:57 AM

Why both of you guys didn't update to the latest version of Electrum, we know that this wallet is a buggy one and the thing we can make it sure safe is to up to date with the latest version. I don't have any issue with the current version and I can always modify fees according to the mempool required transaction fee.

Nothing is certain for updates. Updates bring upgrades in the functionality of the wallet, it can be a fix, but sometimes, it also brings new bugs. Some people regularly upgrade their wallets, but I don't, when I use a certain version it is stable and without any problems, I will continue to use it. Some upgrade may bring some new bugs that developers have yet to find.

In short, regular updates bring additional advantages and disadvantages

freedomgo

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Quote from: ReiMomo on April 22, 2021, 04:52:57 AM

Quote from: freedomgo on April 22, 2021, 04:04:37 AM

Quote from: ChuckBuck on April 20, 2021, 10:23:16 PM

Quote from: freedomgo on April 19, 2021, 04:29:30 PM

Equivalent now is 10 usd if I'll send all my balance worth 55 usd. imagine, 20% fee. Grin

By the way, is this the new version of Electrum? I am using version 3.3.8 and all I have is the fee adjustment bar, no interface like you. And the fee is about 20 dollars, why?

I'm using not really the latest one, I'm using 4.0.1 but there's 4.1.2 already, however, I did stick with the current version. You should consider updating yours, just make sure you download on electrum's real website, not the phishing site.

Why both of you guys didn't update to the latest version of Electrum, we know that this wallet is a buggy one and the thing we can make it sure safe is to up to date with the latest version. I don't have any issue with the current version and I can always modify fees according to the mempool required transaction fee.

The problem with the custodial wallet is the highest fee and you can't able to adjust to the lower fee. I guess that's how they will generate a profit, they almost double the regular fee required by the miners.

I just feel not updating it, lol.. but thanks for reminding, I will try to update mine to the latest. The electrum that I'm using now is not buggy so I did not get interested on updating it, besides, I don't have a lot on this wallet.

Quote

If we gamble using altcoins will I guess will a better solution, for now, I'm using XRP instead of bitcoin.

Great job, always go with the cheapest solution.

ReiMomo

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Quote from: freedomgo on April 22, 2021, 04:04:37 AM

Quote from: ChuckBuck on April 20, 2021, 10:23:16 PM

Quote from: freedomgo on April 19, 2021, 04:29:30 PM

Equivalent now is 10 usd if I'll send all my balance worth 55 usd. imagine, 20% fee. Grin

By the way, is this the new version of Electrum? I am using version 3.3.8 and all I have is the fee adjustment bar, no interface like you. And the fee is about 20 dollars, why?

I'm using not really the latest one, I'm using 4.0.1 but there's 4.1.2 already, however, I did stick with the current version. You should consider updating yours, just make sure you download on electrum's real website, not the phishing site.

Why both of you guys didn't update to the latest version of Electrum, we know that this wallet is a buggy one and the thing we can make it sure safe is to up to date with the latest version. I don't have any issue with the current version and I can always modify fees according to the mempool required transaction fee.

The problem with the custodial wallet is the highest fee and you can't able to adjust to the lower fee. I guess that's how they will generate a profit, they almost double the regular fee required by the miners. If we gamble using altcoins will I guess will a better solution, for now, I'm using XRP instead of bitcoin.

freedomgo

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Quote from: ChuckBuck on April 20, 2021, 10:23:16 PM

Quote from: freedomgo on April 19, 2021, 04:29:30 PM

Equivalent now is 10 usd if I'll send all my balance worth 55 usd. imagine, 20% fee. Grin

By the way, is this the new version of Electrum? I am using version 3.3.8 and all I have is the fee adjustment bar, no interface like you. And the fee is about 20 dollars, why?

I'm using not really the latest one, I'm using 4.0.1 but there's 4.1.2 already, however, I did stick with the current version. You should consider updating yours, just make sure you download on electrum's real website, not the phishing site.

traderethereum

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Quote from: lienfaye on April 21, 2021, 02:20:31 AM

Quote from: traderethereum on April 21, 2021, 02:07:09 AM

Trying to win in the gambling games will not be easy as you want to win but the other gambler also has the same thing as you.
My advice is only to have fun with the gambling games and do not have a big expectation of trying to win.

We all want to win but its easier to be said than done. If only this is possible to win frequently then we dont need to deposit often just to gamble with our favorite games.

Well anyway I was about to deposit btc yesterday to my account but the fees are killing me, the cost is 29% of the btc that I will send. Too bad there's no other coins accepted for deposit in this gambling site.

The casino will not let the gambler wins many times because that can make them lose too much money.
Maybe you can search for the other gambling site which accepts altcoins to gamble so you can reduce the fee by using the altcoin.
It is a pain if we should pay a high fee to just playing gambling while we have a solution to use the altcoins.
I hope you can consider visiting the other gambling site with altcoins because I think it is worth doing to reduce the fee.

Questat

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Quote from: Sanitough on April 20, 2021, 04:51:54 PM

Quote from: chaser15 on April 20, 2021, 04:33:14 PM

The problem with others is, they have no other coins but only BTC or ETH. In that case, they will still pay a high fee if they will deposit it on exchanges to trade it on those coins that have lower fees.

They should face the high fees once first if they really want to play with those lower coins so to not spend other fees in their future trades, they should trade some good amount. Some of the coins which have low fees are XRP, TRX, LTC, DOGE, and what do users need is to find those gambling sites that accept these coins. It won't that hard as there are lots of gambling sites accepting payments from different cryptos already.

It turns out that with the increase of DOGE now, it's not anymore good for gambling since you would need to pay a high fee also, I think the cheapest now is the XRP, I'm using it and it only cost me less than a dollar to make a transfer, now 1 DOGE is equivalent to 0.28 usd, if it did not dump, it's higher.

I usually send DOGE from an exchange, I think even at that price, it's still acceptable for gamblers with small capaital like me. I guess the exchange where charge the biggest is hitbtc, they charge 20 DOGE for a single transaction, but other exchange such as Binance, I think it's cheap.

lienfaye

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Quote from: traderethereum on April 21, 2021, 02:07:09 AM

Trying to win in the gambling games will not be easy as you want to win but the other gambler also has the same thing as you.
My advice is only to have fun with the gambling games and do not have a big expectation of trying to win.

We all want to win but its easier to be said than done. If only this is possible to win frequently then we dont need to deposit often just to gamble with our favorite games.

Well anyway I was about to deposit btc yesterday to my account but the fees are killing me, the cost is 29% of the btc that I will send. Too bad there's no other coins accepted for deposit in this gambling site.

traderethereum

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Quote from: harizen on April 20, 2021, 03:35:35 PM

Quote from: traderethereum on April 20, 2021, 06:33:32 AM

What @Vishnu.Reang said is right. We do not have to spend some amount of the money too often. Maybe we can send some satoshi when the fee is less than 20 sat/byte to the exchange or the casino directly,

Not looking for bitcoin fees for a while now but when was the last time where median fees are less than 20sat/byte?

It can work on those who are not in rush depositing funds on gambling sites and it's a wise move. And adding to that, try to make a decent deposit so that you don't need to make regular deposits.

And lastly, once the funds are now ready for action on that gambling site, always try to win so that you won't do several deposits again and again.

I do not check it Grin

Maybe that is related to playing gambling as a fun activity for people who want to spend their time gambling, so they do not rush to deposit the funds into the gambling site.
They can deposit this day, and they will not have a problem if the transaction confirmed in the next few hours and if they want to gamble, the funds are ready to use.
Trying to win in the gambling games will not be easy as you want to win but the other gambler also has the same thing as you.
My advice is only to have fun with the gambling games and do not have a big expectation of trying to win.

Topic: Transactions Fees x Gambling (Read 1437 times)