We have changed our BitCoin limits for deposits and withdrawals at Kudos Casino. We noticed, and know that many of you have also, that BTC transactions are taking longer to confirm and are costing more in mining fees. This is due to BitCoin becoming a victim of its own success. With its sky rocketing value has come sky rocketing demand and this means that the entire network is slowing down, with people having to pay more to get their transactions confirmed.
Moving forwards – more different coins…
The best solution to all this is to offer support for different coins. We will be implementing support for BitCoinCash in the very near future along with support for LiteCoin, Ethereum and several others. These coins are designed to work much faster so should bring us back to the glory days of getting a transaction confirmed in just a few minutes for just a few cents.
But for now – we have changed our BitCoin Limits…
As a stop gap measure we changed our BitCoin Limits so the minimum deposit for BTC is $50, and the maximum single withdrawal transaction is $1,000. Its far from perfect however it will mean that the fixed costs of mining the transaction will have much less impact. We will keep you updated as we progress and will start making a lot of noise when a firm solution becomes available.
The future of BitCoin
Anyone who is 100% certain about these things is clearly mad, however our research leads us to the conclusion that the future is still looking very good for BTC. The amount of wealth and infrastructure involved in BTC means it is here to stay however its role in the Crypto world is likely to develop into being a long term store, with other coins used to make regular transactions.
Crypto is sure to play a large role in all our futures but it is clearly still in its infancy and having some teething problems, let us know what you think on our social media pages – Facebook and Twitter and join the discussion.