Bitcoin Withdrawals ATM's Question

[El Nino]

Was looking at this withdrawal/deposit method on BookMaker. No fees, fast transaction, seems nice. My question is, after the book sends your payment to your bitcoin wallet, you need to sell it to get USD. I get that you can do this in a variety of ways, ATM's, person to person meet up, exchanges, etc.

Can you go to a Bitcoin ATM and withdraw cash from your bitcoin wallet? Or must you sell a Bitcoin using the ATM, which looks like a fee of 5% on the low end. Do the fees and complexity of getting cash make Bitcoin worth it? I see Las Vegas has a number of bitcoin ATM's. Would be nice to get a payout, sell the Bitcoin, and have cash in hand in 30 min or less. Paying $150 for $3K is ridiculous though.

[TheMoneyShot]

Don't know El. Raiders72001 seems to know a lot about BTC. Perhaps send him a PM?

[Seaweed]

Lol sucks to be american and gamble

[El Nino]

Don't know El. Raiders72001 seems to know a lot about BTC. Perhaps send him a PM?

Will do.

[El Nino]

Lol sucks to be american and gamble

Could be worse. Could be a ski mask wearing Canadian who was buried by Russian Rocket and had to come crawling back.

[jjgold]

Lol sucks to be american and gamble

thread over or in Vegas

[Ted Sheckler]

Get a blockchain wallet and coinbase wallet.

When you request payout at bookmaker, put in your blockchain wallet. Will take about 6 hours to get there (put in alerts so you get email or text). Then you can instantly move to coinbase wallet. Takes about 30 minutes to verify there. Sell straight to your bank account (1% or so fee and you can sell 10K per 24 hours) When you sell to your bank account at 5pm or so today, it MAY be in your bank account tomorrow morning, but sometimes it's weird if you sell on thursday or friday, it doesn't come through til Monday.


Nice thing about bookmaker and bitcoin is you don't have to get on live chat or call anyone, simple copy and paste (triple check to make sure wallet address copied over correctly) and that's it. Never had any hassle or denied transactions.

[El Nino]

Thanks for the info, Ted. I have a Coinbase wallet. Why not just have BookMaker send it directly to that one? Why the extra step of going to Blockchain and transferring the Bitcoin to Coinbase?

Also, do you know anything about withdrawing $ from a Bitcoin ATM? I thought the perk of Bitcoin was keeping it away from banks. I am having an issue with a Canadian check and so I'd rather not deal with a bank if I don't have to. Any way to sell the bitcoin and not have the funds go to your bank?

[swordsandtequila]

Thanks for the info, Ted. I have a Coinbase wallet. Why not just have BookMaker send it directly to that one? Why the extra step of going to Blockchain and transferring the Bitcoin to Coinbase?

Also, do you know anything about withdrawing $ from a Bitcoin ATM? I thought the perk of Bitcoin was keeping it away from banks. I am having an issue with a Canadian check and so I'd rather not deal with a bank if I don't have to. Any way to sell the bitcoin and not have the funds go to your bank?

Coinbase will close your account if they see transactions tied to gambling, better to take that out of the equation. The extra step takes seconds, be it Blockchain or any other wallet. Better safe than sorry. Ted's advice is sound, can't speak for using ATM.

[El Nino]

Coinbase will close your account if they see transactions tied to gambling, better to take that out of the equation. The extra step takes seconds, be it Blockchain or any other wallet. Better safe than sorry. Ted's advice is sound, can't speak for using ATM.

Ah, right on. Good stuff! Thanks, sworder.

[swordsandtequila]

Raiders can maybe chip in with info regarding ATMs, he's got a good grasp on most things bitcoin.

[Ted Sheckler]

Thanks for the info, Ted. I have a Coinbase wallet. Why not just have BookMaker send it directly to that one? Why the extra step of going to Blockchain and transferring the Bitcoin to Coinbase?

Also, do you know anything about withdrawing $ from a Bitcoin ATM? I thought the perk of Bitcoin was keeping it away from banks. I am having an issue with a Canadian check and so I'd rather not deal with a bank if I don't have to. Any way to sell the bitcoin and not have the funds go to your bank?

I think I looked at the ATM method, but I for some reason the card I was looking at I believe only had a 200 daily limit on withdraws or 1K in purchases. At that point, I'd rather just wait a 24-48 hours and get the whole payout in 1 sum and not make 10 trips to the ATM.

What bitcoin ATM card were you looking at?

As for the bank/bitcoin, they have no clue how the money got there, never been questioned and I've done 2 large sells from coinbase (1 max and 1 7K) in 48 hour span, so it showed on my bank statement as 10K deposit and 7K *************** Credit, the same type of transaction as my DirectDep from work.

Never questioned or called from bank. And if for some reason they do "I've been playing the bitcoin market"

[El Nino]

Raiders can maybe chip in with info regarding ATMs, he's got a good grasp on most things bitcoin.

Cool, I will hit him up. The whole concept is new to me. Saw that the D in Vegas put an ATM last year and there are a dozen or so in Vegas. Would be a convenient way to get in and grab some cash without dealing with large cash withdrawals from the bank. I didn't know you needed a card though. I figured you could use your bitcoin wallet and take the funds out of there. Sounds like when you sell them though, it has to go to a bank.

[El Nino]

I think I looked at the ATM method, but I for some reason the card I was looking at I believe only had a 200 daily limit on withdraws or 1K in purchases. At that point, I'd rather just wait a 24-48 hours and get the whole payout in 1 sum and not make 10 trips to the ATM.

What bitcoin ATM card were you looking at?

As for the bank/bitcoin, they have no clue how the money got there, never been questioned and I've done 2 large sells from coinbase (1 max and 1 7K) in 48 hour span, so it showed on my bank statement as 10K deposit and 7K *************** Credit, the same type of transaction as my DirectDep from work.

Never questioned or called from bank. And if for some reason they do "I've been playing the bitcoin market"

Right on, good info, thanks. I tried researching the ATMs online for about an hour and it seems like mostly they are used to buy bitcoin in small chunks. Seems new and they haven't figured it out yet. Many different kinds of ATM's, some with different ways to use them/security procedures.

[raiders72001]

Many different kinds of ATM's, some with different ways to use them/security procedures.

You hit the nail on the head. There are different kinds of ATMs with differing fees, limits and procedures. This article is a little dated but it gives some great information as well as youtube videos for each ATM http://coinatmradar.com/blog/how-to-...h-bitcoin-atm/

Ted did a nice job of spelling out one of the easiest ways to receive bitcoins going from your book to blockchain.info to Coinbase to Bank. Circle works in the exact same way as Coinbase. One other method that I use a lot is through localbitcoins.com since there are so many different methods to transfer funds.

Some other posters above talked about Coinbase banning your account. Coinbase and Circle were both banning accounts without asking questions out of fear from illegal use such as gambling. Coinbase/Circle have now changed up and they will ask questions before any type of banning.

They just do it for legal reasons. You don't have to be specific with your answers to Coinbase/Circle, but if you don't answer, most likely you'll get banned. Just state that you invest, trade or buy and sell computer equipment, etc. and they won't ban you. I wouldn't give out exact details but just a general answer. As far as I know, after you answer, Coinbase/Circle will leave you alone and not ask further questions.

It seems with Coinbase/Circle, they aren't so much concerned with the amount of the transfers, it's the frequency that causes a red flag.

[El Nino]

Thanks for the info, raiders!

[The Giant]

Good thread here.

[Hu$tle]

coinbase no problems. send the bitcoin through multiple address (all yours) just to be safe, nobody cares about tracking your $1k

[Russian Rocket]

Be very careful with them coins...just today it lost 10% of its value

Down 15% in the past 7 days

[swordsandtequila]

Be very careful with them coins...just today it lost 10% of its value

Down 15% in the past 7 days

Just a vehicle to move funds, RR. Get 'em and cash 'em in.

[Russian Rocket]

Just a vehicle to move funds, RR. Get 'em and cash 'em in.

yup man...that's all to it

I just hate keeping money in something that violently moves back and forth without any reasoning behind it.

[Ted Sheckler]

Just a vehicle to move funds, RR. Get 'em and cash 'em in.

Yep, already gambling on sports, when you happen to win, why would you want to gamble on something even more shady.

[El Nino]

Be very careful with them coins...just today it lost 10% of its value

Down 15% in the past 7 days

[jjgold]

This is what scares people

[Russian Rocket]

This chart should tell you everything you need to know about BTC price movement



Someone with a very large position is pumping the price and then dumping everything back

Pump & Dump...rinse and repeat

This strategy works very well with OTC & OTCBB stocks

[raiders72001]

This chart should tell you everything you need to know about BTC price movement



Someone with a very large position is pumping the price and then dumping everything back

Pump & Dump...rinse and repeat

This strategy works very well with OTC & OTCBB stocks

Normally when there's some type of bad news concerning the Chinese economy the price of bitcoins will rise. The devaluation of their currency caused an increase in the price of bitcoins.

Right now Mike Hearn is upset and putting a scare into the bitcoin community causing the price to drop.

You do make good points about pump and dumps. Hearn will make a lot of money with this manipulation. The pump and dumps are rampant with the alternate cryptocurrencies.

[Russian Rocket]

say hello to another 40 points drop

[Russian Rocket]

look at this shit...yet another 10% drop in seconds




It was $450 just days ago

[raiders72001]

One year

[Russian Rocket]

One year

can you explain this chart for us?

just looking for the explanation on why it moves up and down

thanks

[raiders72001]

can you explain this chart for us?

just looking for the explanation on why it moves up and down

thanks

Some of the more recent reasons for movement are the European VAT ruling, Chinese stock market, China devaluing their currency and Bitcoin XT. Here is the latest https://bitcoinmagazine.com/articles...ain-1452705977

[Russian Rocket]

Some of the more recent reasons for movement are the European VAT ruling, Chinese stock market, China devaluing their currency and Bitcoin XT. Here is the latest https://bitcoinmagazine.com/articles...ain-1452705977

I've seen that...can you explain today's price movement? We're down 12% on the day...do you know why?

[raiders72001]

January 15th

http://weev.livejournal.com/415748.html

They're at it again. Bitcoin XT developers are releasing histrionic, emotionally charged blog posts declaring the failure of Bitcoin. These blog posts are promoted by their connections in the (((international media))) to try to spread fear, uncertainty, and doubt around the status of Bitcoin and bully people into accepting their suicidal "solutions" to problems that don't really exist involving block size limits. Bitcoin's only problem is a public tantrum from two former developers who were disallowed radical protocol changes. Mike Hearn, the current tantrum thrower in chief, isn't even in Bitcoin Core's top 100 contributors.

Histrionic whining on Medium and Reddit is not the proper way to present engineering solutions. Their campaign looks more like some sort of intelligence operation than a patch submission. There's a reason for this: it is.

I have a lot of skin in the game on this issue. I am a target of the United States government, and as such I have a very hard time receiving money. It doesn't matter that I have left the United States because of continuing persecution there. Their control over wire transfers between all countries with Rothschild banks is complete. The United States seizes money on lawful transactions between EU states over things as insignificant as Cuban cigars, despite none of the countries involved participating in the US embargo against Cuba. I've had my bank accounts, payment processing services, and brokerage accounts shut off. Bitcoin is the only way I can engage with any financial services. If it is centralized and subject to controls similar to SWIFT wires and credit card processing, my continued existence would no longer be feasible. Bitcoin is the the most important development in human rights in centuries.

Here's the facts: Gavin Andresen and Mike Hearn want you to switch to something called Bitcoin XT or Bitcoin Unlimited or some other fork of Bitcoin that is under unilateral control so that they can centralize Bitcoin to a dangerous degree-- enough to put it under the control of a government hostile to liberty like the United States. While they do this, they hilariously complain about "oppression" and "censorship" on forums that clean away their bullshit altcoin spam postings.

There are two likely incentives for doing this:
1) They have placed short positions against Bitcoin.
2) They are funded by people that wish to see Bitcoin less free.

Now reflect for a moment that the only major industry supporter of the Bitcoin XT proposal is Coinbase whose gigantic series C round was lead by the New York Stock Exchange. I doubt their financial interests are aligned with a free and unregulated global marketplace.

The good news is that they seem to have lost most of this battle. Consensus on the network is determined by the nodes people run on it. Bitcoin XT only has about 500 nodes. Bitcoin Core, the real Bitcoin software, has about ten times that. The majority of the mining capacity is in China, and Chinese people have little incentive to centralize Bitcoin for the convenience of US intelligence and enforcement organizations. So I must celebrate China's shrewd rejection of XT today.

If you love liberty you should call XT's shilling and spamming out for what it is. If you are invested in Bitcoin you also must do so. If XT gets their way and centralizes Bitcoin, Bitcoin will lose its primary feature of freedom from centralized authorities and thus lose its source of value. You can also support Bitcoin's continued freedom by running a full Bitcoin Core node, and buying and saving Bitcoin.

Bitcoin transaction fees going up is not the end of the world. It's good for miners, and necessary to protect a limited resource like space on the blockchain. I'm willing to pay higher fees to see Bitcoin stay free from government control, and everyone else who loves Bitcoin should be so willing as well.

http://weev.livejournal.com/415748.html

[Russian Rocket]

http://weev.livejournal.com/415748.html

so you're telling me that this little pebble dropped the price of BTC by 12% in one day?

[raiders72001]

so you're telling me that this little pebble dropped the price of BTC by 12% in one day?

It's not a little pebble.