Should Books Reimburse Bitcoin Fees As They Did With P2P Deposits? 💱

[Hman]

I refuse to post up bitcoin right now unless a book takes alternative coins like Bovada

Agreed JJ

But books are twisting our arms to deposit via Bitcoin as their preference.

Time they start covering the fees like they used to do with person to person

[jjgold]

Offshore Books need to be careful in legal states

Today I said why pay $25 in bitcoin fees to send to offshore book

I took the $25 and put into Caesars

Betus takes like 4 cryptos now I wonder why they are doing well always ahead of the curve

[texhooper]

I downloaded the muun wallet, used segwit address instead of legacy (it defaults to segwit which is good), and used it to make a deposit this afternoon and only paid about 4% total from exchange to wallet to book. When I bought the coin at cashapp I got a notification about congestion and how they’re limiting transactions, and thought oh great this fee is gonna be crazy. And it wasn’t. Felt like the good old days.

I had been using blockchain wallet and posters had been telling me to switch as I complained about fees, so maybe this is something.

It would be nice if books would reimburse these fees but I think as long as there are ways for us to counter them they’re not going to, so we’re gonna have to figure out ways to take advantage on our end. From my limited research today it does seem like the future is in using the lightning network. I don’t know the specific ins and outs of that, but it doesn’t seem like that great a leap. That would solve all these problems like homie earlier in this thread was saying

[Judge Crater]

I wonder how they could logistically refund the fees since the sender decides how much fee to include?

[texhooper]

I wonder how they could logistically refund the fees since the sender decides how much fee to include?

This is exactly one of the things they’d cite. Even though your average sender isn’t aware of this

[pavyracer]

No reinmbursement. Go to a brick and mortar and skip fees.

[Judge Crater]

I made a $5 purchase last week and the recommended fee was $12.84, crazy.

[Shifty]

I agree but isn't there an easy solution where both parties don't take much hit, such as using lower transaction fee altcoins?

This! Deposits and payouts with low fee alt-coins. Would really like to use USD Tether at a 1:1 exchange. No sweating these volatile crypto markets every time. Sweat the game, Not the Bitcoin.

[RudyRuetigger]

Offshore Books need to be careful in legal states

Today I said why pay $25 in bitcoin fees to send to offshore book

I took the $25 and put into Caesars

Betus takes like 4 cryptos now I wonder why they are doing well always ahead of the curve

ive said this for months bro

[pabonaparte]

I made a $5 purchase last week and the recommended fee was $12.84, crazy.

It's like any fee or tax. If I need a phone charger and it costs 30 pound to get it locally made but 5 pound in China, I save money even if I pay 10 pound for shipping and then VAT on the combined price of goods and shipping fees!

This of course assumes I am willing to wait. And most gamblers are not willing to wait. Books want to take your money, so they will only reimburse you if they think it helps them take your money faster.

[pavyracer]

I thought bitcoin was created as an alternative to banks charging fees for bank transactions and credit card processing. It appears that bitcoin fees are now worse than bank fees. They have created a monster that can't control now. I will always be gambling with cash. No one can deny cash and they don't charge fees to take your bets.

[Optional]

I thought bitcoin was created as an alternative to banks charging fees

It was created to stop the US DOJ interfering with money transfer business.

The creator knew the fees would become large with time, but expected other versions to deal with that issue (as they have). And it was never ever intended to be completely anonymous either (as many people say they think it was created for) as that would just condemn it to always being a criminal currency only.




Re fees. I do also think books should automatically cover miner fees, up to a reasonable amount.

They can see exactly what was paid, so should be simple.


Kudos to Bookmaker for reimbursing when asked but do think the time has come to do it automatically.

[pabonaparte]

I thought bitcoin was created as an alternative to banks charging fees for bank transactions and credit card processing. It appears that bitcoin fees are now worse than bank fees. They have created a monster that can't control now. I will always be gambling with cash. No one can deny cash and they don't charge fees to take your bets.

If you are able to find -105 betting with cash, kudos to you. Otherwise, there are better options.

[Judge Crater]

Since the customers set the fee, I wonder could they could do this automatically without abuse occurring. I have seen fees up to 250% for a one hour delivery, though mostly on small transactions. Reasonable is in the eye of the beholder.

Re fees. I do also think books should automatically cover miner fees, up to a reasonable amount.

They can see exactly what was paid, so should be simple.


Kudos to Bookmaker for reimbursing when asked but do think the time has come to do it automatically.

[KS1986]

Books should start pushing customers to alt coins, I started using LTC and most of the time its less then a cent to transfer and confirms in a few minutes. Just as easy to use as BTC and books would save tons on processing withdrawals. I can't imagine how much the bigger books are paying in BTC fees to process the amount of withdrawals they do.

[jjgold]

Books have to get away from bitcoin

It’s going to hurt them terribly if not

[Roger T. Bannon]

I thought bitcoin was created as an alternative to banks charging fees for bank transactions and credit card processing. It appears that bitcoin fees are now worse than bank fees. They have created a monster that can't control now. I will always be gambling with cash. No one can deny cash and they don't charge fees to take your bets.

Actually it was created as an alternative to US currency. Fees were baked in. The idea is that it will supplant govt currencies because it will have a limited supply. As it has grew more popular, fees should have come down but instead they went up. Bitcoin is not what it was intended to be.

[Judge Crater]

I tested a $1 BTC transfer , the recommended fee was $7.63