Would you do a $1400 withdrawal with bitcoin?

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  • raiders72001
    Senior Member
    • 08-10-05
    • 11140

    #106
    Coinbase ,LocalBitcoins, Bitstamp, BTC-e, Cryptsy, Bitfinex, Bitfloor, CampBX, Kraken, CaVirTex, VirWox, Poloniex, A lot depends upon what country that you are in.

    With Localbitcoins you can get it fast through Cash in person, **, **, Paypal, Bank Account
    Comment
    • shhhcago
      SBR High Roller
      • 01-28-15
      • 147

      #107
      How does Localbitcoins work? Like if I want to buy 8 Bitcoins for 2 dimes and pay them in say paypal. Who goes first and what is the language to watch out for a scam? Like I know they have ratings but how do I avoid any potential of scam?
      Comment
      • raiders72001
        Senior Member
        • 08-10-05
        • 11140

        #108
        Originally posted by shhhcago
        How does Localbitcoins work? Like if I want to buy 8 Bitcoins for 2 dimes and pay them in say paypal. Who goes first and what is the language to watch out for a scam? Like I know they have ratings but how do I avoid any potential of scam?
        Coinbase is reputable. Link your bank account to Coinbase. Then you can buy bitcoins from your bank to Coinbase. When you want to sell, then it goes Coinbase to bank account.

        edit- Sorry, you said localbitcoins not Coinbase
        Comment
        • raiders72001
          Senior Member
          • 08-10-05
          • 11140

          #109
          With localbitcoins you set up an account. To sell you find a buyer with a reputable history. Localbitcoins will show how many transactions a person made and positive or negative feedback. Contact the seller and tell him how much you want to sell.

          You will send the bitcoins to localbitcoins. They act as an escrow account. The person sends money to you by **, **, paypal, bank account or in person. Then you hit transaction complete on the localbitcoin site and the bitcoins are sent to the buyer.

          Eidt- This explains everything better than I did. https://localbitcoins.com/faq
          Comment
          • RonPaul2008
            SBR Hall of Famer
            • 06-08-07
            • 6741

            #110
            Originally posted by Ted Sheckler
            Cashed out 2500 No fee from book 2470 hit the bank account, so a 30 dollar fee when selling. Not bad. It was my first time for a payout and I was a little worried I would mess something up, but got some good help on here on the "best" ways to handle it, and it went perfectly.
            Did you use some service or do you have a private wallet? How did you convert it to $ (and what does that cost) and get it to your bank (sounds like this cost $30). This is the kind of info that will be useful for people looking into bitcoin.
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            • raiders72001
              Senior Member
              • 08-10-05
              • 11140

              #111
              I did a test run with localbitcoins a little while back. I bought a bitcoin from a seller. I put money in his BkofAma account. Then he clicked paid on the local bitcoinsite and my bitcoins were immediately released.
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              • raiders72001
                Senior Member
                • 08-10-05
                • 11140

                #112
                There are also bitcoin ATMs and trucoin does it immediately for a 6% fee.
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                • thespeculator
                  SBR MVP
                  • 09-09-08
                  • 2999

                  #113
                  Originally posted by shhhcago
                  How does Localbitcoins work? Like if I want to buy 8 Bitcoins for 2 dimes and pay them in say paypal. Who goes first and what is the language to watch out for a scam? Like I know they have ratings but how do I avoid any potential of scam?
                  Dseamans is a top trader for PayPal , as far as not being scammed . Stick with pro traders , even if someone is offering better price. Better price is not much good if you don not get your coins or cash
                  Comment
                  • StayGolden
                    SBR High Roller
                    • 10-14-14
                    • 105

                    #114
                    Originally posted by shhhcago
                    My biggest concern is getting money in your hands quickly. I understand that you can cash out from a book to a wallet quick. There just isn't a way to get cash from that wallet to your hand quickly. I know they have these forums and stuff where someone on the street will meet you. I don't trust that. There should be 2 or 3 BITCOIN ATMs in major cities. Where you punch in 25 digit code and it will spit out a dime.

                    What is the advantage of bitcoin to get from your online wallet to your bank account it take 2 days. I can get a ** or ** from several books same day.
                    www.localbitcoins.com


                    sorry didnt see rest of replies. this site is a great way to make your payout even bigger. You can sell your BTC at a 20% markup if patient. 10% easy same day.

                    I always pick up an extra 10% when I do a cashout from a book by selling on this site. I have 60 or so trades, never a problem. bitcoins are escrowed during the transactions.

                    just be selective when trading. look at histories and feedback
                    Comment
                    • thespeculator
                      SBR MVP
                      • 09-09-08
                      • 2999

                      #115
                      Originally posted by raiders72001
                      I did a test run with localbitcoins a little while back. I bought a bitcoin from a seller. I put money in his BkofAma account. Then he clicked paid on the local bitcoinsite and my bitcoins were immediately released.
                      how do you add a fee to speed up confirmations, i don't know why anonibet insists on doing this , then you sit there for 4 hours waiting
                      Comment
                      • raiders72001
                        Senior Member
                        • 08-10-05
                        • 11140

                        #116
                        Originally posted by thespeculator
                        how do you add a fee to speed up confirmations, i don't know why anonibet insists on doing this , then you sit there for 4 hours waiting
                        which wallet are you using? For blockchain.info hit custom. Then miners fee will show up. Normally .0001 is good but in emergencies I pay .0005.
                        Comment
                        • raiders72001
                          Senior Member
                          • 08-10-05
                          • 11140

                          #117
                          For those needing bigger limits for the Super Bowl, Nitrogen currently has a 60 BTC limit that will go up to 120 BTC before the game. They will also have live betting for the game.
                          Comment
                          • thespeculator
                            SBR MVP
                            • 09-09-08
                            • 2999

                            #118
                            I use localbitcoins,

                            so you can pay on incoming

                            thanks
                            Comment
                            • JLester2015
                              SBR High Roller
                              • 12-27-14
                              • 141

                              #119
                              Originally posted by raiders72001
                              For those needing bigger limits for the Super Bowl, Nitrogen currently has a 60 BTC limit that will go up to 120 BTC before the game. They will also have live betting for the game.
                              Can you imagine having 120 bitcoins in limbo for 4-5 hours? That seems crazy. What if the price of bitcoins plummets another $100?
                              Comment
                              • raiders72001
                                Senior Member
                                • 08-10-05
                                • 11140

                                #120
                                Originally posted by JLester2015
                                Can you imagine having 120 bitcoins in limbo for 4-5 hours? That seems crazy. What if the price of bitcoins plummets another $100?
                                Fluctuation is a concern but I can't see that much in a 4 hour period.It''s at $229 right now. https://bitcoinaverage.com/#USD
                                Comment
                                • Spedizzo
                                  SBR MVP
                                  • 12-16-11
                                  • 1557

                                  #121
                                  I would do a $1400 withdrawal in pesos right now

                                  I have been getting my ass kicked
                                  Comment
                                  • StayGolden
                                    SBR High Roller
                                    • 10-14-14
                                    • 105

                                    #122
                                    Originally posted by raiders72001
                                    For those needing bigger limits for the Super Bowl, Nitrogen currently has a 60 BTC limit that will go up to 120 BTC before the game. They will also have live betting for the game.
                                    Has their recent increases in limits across the board concerned you ? It coincided with the big hit BTC has taken lately
                                    Comment
                                    • raiders72001
                                      Senior Member
                                      • 08-10-05
                                      • 11140

                                      #123
                                      Originally posted by StayGolden
                                      Has their recent increases in limits across the board concerned you ? It coincided with the big hit BTC has taken lately
                                      It seems that they increased the limits due what you pointed out. The lower the price of bitcoins, the higher amount of BTC will be needed to equal the actual value.

                                      Nitrogen is a big sized operation with zero payment problems so there are no worries playing there.
                                      Comment
                                      • eidolon
                                        SBR Hall of Famer
                                        • 01-02-08
                                        • 9531

                                        #124
                                        It will drop down to $100, or close to it. That is where it should be
                                        Comment
                                        • StayGolden
                                          SBR High Roller
                                          • 10-14-14
                                          • 105

                                          #125
                                          Originally posted by raiders72001
                                          It seems that they increased the limits due what you pointed out. The lower the price of bitcoins, the higher amount of BTC will be needed to equal the actual value.

                                          Nitrogen is a big sized operation with zero payment problems so there are no worries playing there.
                                          Yes but all their assets are basically in btc, so in the last month they have taken quite a big hit, and the raise in limits weren't proportionate to the decrease in btc.
                                          Comment
                                          • raiders72001
                                            Senior Member
                                            • 08-10-05
                                            • 11140

                                            #126
                                            Originally posted by StayGolden
                                            Yes but all their assets are basically in btc, so in the last month they have taken quite a big hit, and the raise in limits weren't proportionate to the decrease in btc.
                                            Books immediately turn bitcoins to cash if they are worried about bitcoin fluctuations. Businesses that accept bitcoins do the same.
                                            Comment
                                            • Texans365
                                              SBR Hustler
                                              • 12-17-14
                                              • 96

                                              #127
                                              I found a good description of the process:

                                              If a player opens account at a currency other than BTC, the system automatically converts funds at the Bitstamp, through API, to relevant amount of USD at the Bid rate at the time of deposit. However, when a player requests for withdrawal, the reserve operation takes place.
                                              Comment
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