Circle Sent Me A Warning

**Optional** · 10-18-16, 06:53 AM

It's tough to be really sure what will work or not.

LTprofits advises doing one trade on an exchange like Kraken with the btc as the 'middle man'. Resident bitcoin expert Raiders has said something similar too.

At the price, I'd be using the Bitpay ATM card whilst it lasts personally. Obviously all a bit too good to be true and will probably die at some point but there is no need to keep funds on it for more than half an hour or so really. So not much real risk of any loss.

**Buffalo Nickle** · 10-18-16, 12:54 PM

Originally posted by gauchojake

Threatened to close my account for gambling related activity...the horror! I have always used a wallet as an intermediary but it's clear that I need to probably use more than one. How many transactions are you guys using before you convert to cash? Are you guys going book to airbitz to blockchain to circle or something along those lines? I saw the whole card thingy but think that's probably too good to be true. Selling on an exchange?

I'm sure there's a thread but I am too lazy to look past the first page plus I just watched the video so I feel like I've done enough due diligence.

We need to update the sticky's as conditions change.

How many transactions have you done?

**gauchojake** · 10-18-16, 03:28 PM

Originally posted by Buffalo Nickle

How many transactions have you done?

With Circle? Probably 20 since the beginning of the year. I usually go bank>circle>wallet>book and back again for cashouts. Do I need to add additional layers to the transactions? I have recently added a few extra wallets. I am okay taking a hit on the transactions fees if that is the best way to do the transaction. I don't want to get my circle account banned as I would like to use them for non gambling related activity.

**Buffalo Nickle** · 10-18-16, 03:33 PM

Doesn't seem like all that many but that is still quite a few.

Mix in Coinbase and maybe use Airbitz some.

The additional transfer might help. But I would probably only do it with Circle transfers.

**gauchojake** · 10-18-16, 03:44 PM

Thanks Opti and Nickles. I am also going to look into the various international exchanges to sell on and see what makes sense.

**gauchojake** · 10-18-16, 03:55 PM

Fukk me there is a BTC ATM pretty close to me. I am going to go check it out.

**Buffalo Nickle** · 10-18-16, 06:40 PM

Originally posted by gauchojake

Thanks Opti and Nickles. I am also going to look into the various international exchanges to sell on and see what makes sense.

It's interesting they did not shut you down. They are pretty much telling you to cool it.

I would just use Coinbase for a while and just a handful of transfers with Circle. It seems they are willing to give some leeway.

I would also just start doing one deposit per season/book and one withdrawal when you are done betting.

**jtoler** · 10-18-16, 06:46 PM

Email them back and ask them what took so long. Why after 20 are you sending me a warning.

**SharpAngles** · 10-18-16, 06:49 PM

Jaker localbitcoins is very popular and worked well for me. I would call ahead if your looking for ATMs. They usually have small limits and about half that show up near me on a couple directories aren't there anymore. They seem to move around a lot.

Also, you want to keep the circle account "sterile" Ie separate wallets for gambling that never deal with them

**Optional** · 10-18-16, 08:00 PM

@SharpAngles... Circle can ban you for using Localbitcoins or EBay or anywhere where btc is traded for any form of cash that is not licensed.

Originally posted by gauchojake

Thanks Opti and Nickles. I am also going to look into the various international exchanges to sell on and see what makes sense.

An Australian licensed and properly regulated one called independentreserve.com is worth a look.

They charge a flat $20 fee for wire withdrawals to USA and have higher prices than circle/coinbase when it comes to selling.

Being Australian they don't give a rats about gambling so wont even be looking for what you do in that respect.

**Alfa1234** · 10-19-16, 08:19 AM

bitlaunder

2 or 3% depending on the option you take.

Works great and insures anonymity.

**gauchojake** · 10-19-16, 09:17 AM

Originally posted by Alfa1234

bitlaunder

2 or 3% depending on the option you take.

Works great and insures anonymity.

lots of people saying this site is a scam site

**gauchojake** · 10-19-16, 12:56 PM

I hit the ATM this morning. I have never been so happy to pay 44 bucks in fees. Actually I am not super happy about that, but I got proof of concept so the thing works. The ATM was super easy to use - you pick buy or sell and then chose how much money you want to transact. They pop up a qr code and you scan from your wallet and the thing spits out money instantly. I paid about 44 bucks for withdrawing 500 with no ID, no phone number, nothing but a transaction that took all of 5 seconds. I did not have to wait on a bunch of confirmations or anything. Literally the thing spit out 5 new crisp 100 dollar bills so fast that I thought something was wrong.

I have been a big detractor of bitcoin over the years but I have to say that was probably the coolest trip to an ATM ever.

**SharpAngles** · 10-19-16, 03:15 PM

Call the operators phone number on the machine and if they're cool you can arrange much bigger withdrawals in the future. A friend was able to liquidate 12 coins with 2 days notice, only so the company could ensure the machine was full.

and nearly 10% is steep. I'd shop around if I were you. There's a ton of these machines around socal

**Optional** · 10-19-16, 03:51 PM

Originally posted by Alfa1234

bitlaunder

2 or 3% depending on the option you take.

Works great and insures anonymity.

Too many reports of account 'hackings' and weird problems there.

**gauchojake** · 10-19-16, 04:33 PM

Originally posted by SharpAngles

Call the operators phone number on the machine and if they're cool you can arrange much bigger withdrawals in the future. A friend was able to liquidate 12 coins with 2 days notice, only so the company could ensure the machine was full.

and nearly 10% is steep. I'd shop around if I were you. There's a ton of these machines around socal

Great idea. I think the fluctuation in BTC today had something to do with the fee but from what I can tell most fees are between 4-10%. The proximity to my house and the ease of use make it acceptable for me for this transaction. I have read some horror stories about people waiting an hour to get their transactions confirmed before the machine paid them. I mean really I got a lesson on how this all works for 44 bucks. I'm okay with that.

**Plaza23** · 10-20-16, 01:07 AM

I've never had problems linking by Debit Card to Circle, depositing into Circle, and then sending BitCoins from Circle to 5 dimes. But I have not been even close to using my limits. So maybe they only flag people moving alot of currency?

Do you think Circle would shut down your account if you took a deposit directly from 5d into Circle?

**gauchojake** · 10-20-16, 09:52 AM

Originally posted by Plaza23

I've never had problems linking by Debit Card to Circle, depositing into Circle, and then sending BitCoins from Circle to 5 dimes. But I have not been even close to using my limits. So maybe they only flag people moving alot of currency?

Do you think Circle would shut down your account if you took a deposit directly from 5d into Circle?

You definitely don't want to ship from 5D directly to Circle. Many people here have reported being shut down for that. I don't think the reason Circle flagged my account was because of the deposits to books but I guess it could have been. The warning coincided with a number of cashouts that I made.

I saw a post by Raiders that said he sent to exchanges before cashing out which would obfuscate the transaction. I guess the moral of the story is that you need more than one option for moving the btc and converting to cash.

**Catch77** · 10-21-16, 04:48 PM

Id really try the Debit card route if I were you. 44 dollars is a pretty steep charge.

Contrast to this scenario I just did Monday. Book -> Blockchain -> Debit Card.

Bought a 750 dollar "$ order" from Walmart for .68. Deposit "$ order" into my checking account. Funds available instantly. Way better than paying those ATM fees. Just a thought. 68 cents vs 44 dollars

**gauchojake** · 10-21-16, 09:05 PM

Originally posted by Catch77

Id really try the Debit card route if I were you. 44 dollars is a pretty steep charge.

Contrast to this scenario I just did Monday. Book -> Blockchain -> Debit Card.

Bought a 750 dollar "$ order" from Walmart for .68. Deposit "$ order" into my checking account. Funds available instantly. Way better than paying those ATM fees. Just a thought. 68 cents vs 44 dollars

Yeah I get that the fees are steep. What those fees buy you in anonymity, location, and speed of payment may or not be of value to you. For me it was more of a proof of concept kind of thing. I know it works and can choose to use it if I find it valuable or useful. It's not a long term solution to BTC cashouts but it's an out if you need it. I am certainly not looking to pay 9% on my money every time I hit the ATM. My problem is that I haven't established an exchange account other than Circle who all of a sudden sent me a warning that they were going to shut me down if I engaged in any other nefarious activity.

FTR I just sent a small amount through 2 wallets to Circle and not a peep from them yet **crossing fingers**