Online sportsbook 5Dimes named in multiple local news reports

[3runhomer]

https://en.bitcoin.it/wiki/Address

Good info

[Russian Rocket]

there is a verification process at 5d/circle... where they email you and make sure you are doing the transaction for that amount

odds of making it through that process to the wrong account are so small they aren't worth mentioning or scaring anyone

I'm not trying to scare anyone, I'm just giving you a real life example how it can happen from a technical standpoint.

I do agree with you though that the chances of this happening are pretty slim.

Also don't rely on "there is a verification process at 5d/circle"...many verification process have been tempered with in the the past in much bigger companies.

[milwaukee mike]

I'm not trying to scare anyone, I'm just giving you a real life example how it can happen from a technical standpoint.

I do agree with you though that the chances of this happening are pretty slim.

Also don't rely on "there is a verification process at 5d/circle"...many verification process have been tempered with in the the past in much bigger companies.

makes sense

my guess though is that it's far more likely to be ripped off/hacked/etc with a **/** transaction or card. where there's humans involved... i've had a ** deposit where they claimed they didn't get it, even though ** told me it was received.

[Russian Rocket]

Yeah for sure...My only point is, that if you get ripped off by a human in a real paper money transaction, then you can at least have some options of possibly getting your money back, through either book, bank, charge card company, police...etc

with coins no one is gonna help you with anything

[milwaukee mike]

Yeah for sure...My only point is, that if you get ripped off by a human in a real paper money transaction, then you can at least have some options of possibly getting your money back, through either book, bank, charge card company, police...etc

with coins no one is gonna help you with anything

i was ripped off in the mtgox deal so you're preaching to the choir somewhat!

[ThaWoj]

https://en.bitcoin.it/wiki/Address

From that wiki: "The probability that a mistyped address is accepted as being valid is 1 in 2³², that is, approximately 1 in 4.29 billion."

Certainly makes me feel better

[Russian Rocket]

That is if the checksum feature that your wallet put in place is working as it should. That is the only gate that is stopping it from being accepted.
They forgot to factor in the amount of drunken reloads that is increasing with each and every day...I'm sure that system is gonna be heavily tested in the coming months/years.

[ThaWoj]

I know it's the wrong thread but one more btc question...reading about the part about address reuse, if I always send from my coinbase address to the block chain address I always use, and then send to the same nitrogen address that I always use from that block chain address... What are the negative impacts?

[Russian Rocket]

I know it's the wrong thread but one more btc question...reading about the part about address reuse, if I always send from my coinbase address to the block chain address I always use, and then send to the same nitrogen address that I always use from that block chain address... What are the negative impacts?

Besides potentially getting flagged for gambling, you're jeopardizing the safety of your coins.

Here read this:

https://bitcoin.org/en/protect-your-privacy

[The Kraken]

the biggest fear with using BTCs is not the price fluctuation, but a simple thing like mistyping the receiving address

unlike with paper checks, there will be no going back once you hit that Send button


getting your wallet/acct hacked is also a quite a big concern

This is quite true

[pavyracer]

Any updates from SBR investigation into the alleged money laundering? Have they uncovered the truth?

[Plaza23]

that is just not true

if you use circle or coinbase it just converts automatically to us dollars (if you have that in your settings). when i withdraw bitcoins it shows up as us dollars. no need for exchange, and no wallet/account to get hacked, it's as easy as doing a paypal transaction.

and mistyping the receiving address is silly, it's a copy and paste, no typing necessary. and if it doesn't match up then the transaction doesn't go through, it's not as if it just goes to some other random account.

I was reading up on Coinbase. It looks like you can link your US Bank Account to Coinbase. Then they charge you a 1% conversion charge in basically "selling" your bitcoins, and converting it to US $$ back into your bank account. Is that true

I suppose if you don't want to wait 1 month for a free payout from 5d, and are withdrawing far more often - then Bitcoins would be better. 5D lets you withdraw bitcoins at $0 fees right? A 1% conversion charge at Coinbase isn't a bad deal. Is 1% pretty much the standard rate in selling your bitcoins for $$$?

[TheMoneyShot]

OK that's fine until you go to login to your 5d account one day and see this...

Smokey... That's practically on ever gaming website with .com

Haven't once noticed that with anything ending in .eu

Again... everyone can laugh, scream, or mock Tony... for whatever reason. But 5D tried to do everything they could to make it easier for all US customers. No other book gave you these options. So, the Amazon thing screwed up. It happens in business.

Rumor has it.... they had a sh#$load of GC's. They were begging people to get a PO using AMAZ GC's. It was right on their Front Page around the Christmas Holidays. All it takes is 1 goof ball idiot that couldn't enter a GC properly at AMAZ website... or something didn't work right... they freak out... call AMAZ about the issue... and a CS rep says... well where did you get our GC's at?? And then some degenerate says... I got em from a gmblin website. That's clearly what happened.

Do you really think AMAZ cares who purchased the GC's? All they care about is making $.

[milwaukee mike]

I was reading up on Coinbase. It looks like you can link your US Bank Account to Coinbase. Then they charge you a 1% conversion charge in basically "selling" your bitcoins, and converting it to US $$ back into your bank account. Is that true

I suppose if you don't want to wait 1 month for a free payout from 5d, and are withdrawing far more often - then Bitcoins would be better. 5D lets you withdraw bitcoins at $0 fees right? A 1% conversion charge at Coinbase isn't a bad deal. Is 1% pretty much the standard rate in selling your bitcoins for $$$?

circle does the same thing with 0 fees... and yes there is never a fee at 5dimes for bitcoin withdrawals

they both seem to take the average between bid/ask price which results in a small difference, like i said if you withdraw 300 you might get 298 or 302. same with the deposit

[alling]

For Americans that leaves Bookmaker as your choice if you dont want to play russian roulette with your bankroll.

[bisme]

i was worried about this news so requsted a payout. they sent low 4 figures. took about 30 hours. their confirmation email went to my spam folder so i almost deleted it..

[geebert74]

whats the word? do I deposit or look elsewhere?

[bisme]

they're probably the best book there is. most options for betting, easiest for deposits and withdrawals.

just deposit. they are paying people thousands and thousands a day. they aren't gonna scam you.

[3runhomer]

5Dimes is rolling along. I've confirmed multiple large payouts...

Business as usual.

Depsoit away...

[sheepgotwool]

Payouts via bitcoin are faster than they were just a few months ago.

[habitualwinning]

What backs bitcoin? You know like the USD used to be backed by gold and now oil(petrodollar and U.S. military). What's stopping bit from being here today, gone tomorrow or like a bankrun on it everyone cashing out and no supply left? It seems completely fiat and fantasy to me. What's stopping the people who invented it from manipulating their accounts so that they have more bit than they should, thus affecting worth? How is it created and audited? You know like the USD has the Treasury and Federal Reserve Bank, what does bitcoin have? What determines its worth? Like say someone is charging 100 btc for a product, how do they determine what that is equal to in USD? How come the only place I'm seeing people talking about btc is on this forum? Is it brand new or just unknown to the masses? So many ?'s about btc. What happened to cash is king baby.

[Kindred]

You guys with your panties in a bunch for not being able to use 5dimes to cashout into giftcards, gyft.com takes bitcoin and sells amazon among every other gc you can imagine. You pay with Bitcoin and you get 3% back in points or whatever. Cardpool takes Bitcoin and you can save even more but Amazon cards are usually no better than .5% off. So cashout in Bitcoin and go buy your giftcards.
Or you can use purse.io and buy whatever the hell you want on Amazon and get up to %20 off.
You can checkout at most online stores using bitpay, Amazon isn't one of them but there are plenty of others.

This is so not a big deal even if you love going on a shopping spree after a big game. Bitcoin has all your needs covered

[Kindred]

What backs bitcoin? You know like the USD used to be backed by gold and now oil(petrodollar and U.S. military). What's stopping bit from being here today, gone tomorrow or like a bankrun on it everyone cashing out and no supply left? It seems completely fiat and fantasy to me. What's stopping the people who invented it from manipulating their accounts so that they have more bit than they should, thus affecting worth? How is it created and audited? You know like the USD has the Treasury and Federal Reserve Bank, what does bitcoin have? What determines its worth? Like say someone is charging 100 btc for a product, how do they determine what that is equal to in USD? How come the only place I'm seeing people talking about btc is on this forum? Is it brand new or just unknown to the masses? So many ?'s about btc. What happened to cash is king baby.

I don't understand anythign you said because you are completely ignorant on the topic. Cash is king, Bitcoin is the only form of cash left in the digital age..the rest of your agrument is either wrong or in favor of Bitcoin (like having no federal reserve in control using inflation as a hidden tax keeping you a working slave)
But you don't have to understand the benefits to use Bitcoin to gamble..I mean do you really enjoy the banks controlling your money..the ones that control where you can spend it, what you can spend it on, and that can freeze your account. Surprised to see a gambler opressed by the system defending the very system that won't let you own your own money, they want control of it by issuing it, setting interest rates, controlling supply by printing whatever they want and keeping your money in a bank which is in their control..

[TheMoneyShot]

You guys with your panties in a bunch for not being able to use 5dimes to cashout into giftcards, gyft.com takes bitcoin and sells amazon among every other gc you can imagine. You pay with Bitcoin and you get 3% back in points or whatever. Cardpool takes Bitcoin and you can save even more but Amazon cards are usually no better than .5% off. So cashout in Bitcoin and go buy your giftcards.
Or you can use purse.io and buy whatever the hell you want on Amazon and get up to %20 off.
You can checkout at most online stores using bitpay, Amazon isn't one of them but there are plenty of others.

This is so not a big deal even if you love going on a shopping spree after a big game. Bitcoin has all your needs covered

Everyone's issue isn't about receiving AMAZ GC's from 5D.

But thanks for the websites for extra % off using BTC.

[Russian Rocket]

Everyone's issue isn't about receiving AMAZ GC's from 5D.

Opie completely missed the point of this discussion.

[capone1899]

Bitcoins fluctuate in value and you also have to convert Bitcoins to Cash if you want to spend the money. So I will never use that option.

You still have a dial phone and B&W TV too?

[habitualwinning]

I don't understand anythign you said because you are completely ignorant on the topic. Cash is king, Bitcoin is the only form of cash left in the digital age..the rest of your agrument is either wrong or in favor of Bitcoin (like having no federal reserve in control using inflation as a hidden tax keeping you a working slave)
But you don't have to understand the benefits to use Bitcoin to gamble..I mean do you really enjoy the banks controlling your money..the ones that control where you can spend it, what you can spend it on, and that can freeze your account. Surprised to see a gambler opressed by the system defending the very system that won't let you own your own money, they want control of it by issuing it, setting interest rates, controlling supply by printing whatever they want and keeping your money in a bank which is in their control..

I asked some basic questions about btc. If you're so pro btc and you can't even answer my simple questions then you're not doing yourself or btc any favors cause you're not convincing me or anyone else to change perspectives. I'm neutral on the subject cause I've never used it and I don't know anybody else that does either. It's either very new and nobody knows about it yet or it's very niche and will never become widely viable. I have several friends/family that work in finance and I've been asking them all about btc and none of them have a favorable opinion of it. They either tell me that it's insignificant in the grand scheme or that people use it primarily for black market activities. Sounds pretty shady to me based on that.

If it's such a good product then why don't you enlighten me and convince me to use it? Until then my cash and debit/************ work just fine at any retailer, online or brick and mortar. My CC's are also protected so if anyone hacks my acct. or makes a fraudulent purchase I'm not liable. My bank accts. are FDIC insured protecting my assets. Apparently with this btc stuff it's like the wild west, no regulation, no refunds, if you get hacked or defrauded, oh well it's gone forever. Sounds like too much risk versus usefulness but maybe I'm just ignorant or naive on the topic? You seem very anti-bank and against the establishment and I understand where you're coming from. I've read End the Fed by Ron Paul and The Creature From Jekyll Island by G. Edward Griffin before. I'm more of an Agorist or Nihilist myself.

[Plaza23]

You still have a dial phone and B&W TV too?

No, but I can recognize value and risk when I see it. The fluctuations in value of Bitcoins are not worth the risk I want to take on by holding them. To me, Bitcoins are sort of like a commodity. But there's nothing actually inherently behind it that is of any value. It'd be like if 5 dimes wanted to pay me in barrels of oil. I wouldn't know on a daily basis how much that oil they paid me was worth. But, I would still at least be confident it was worth something, because everyone NEEDS oil. Or bushels of corn, or any other commodity you can think of.

But Bitcoin - what is backing it? By itself, is has no value. The US $$$ are backed against the gold standard. Bitcoin is backed against virtually nothing - other than a group of people decided it had value, so they were going to trade with it. I still don't know how it even got started or how any person?? could create their own currency and have millions of people buy into it and assign it some value?

The Pro BitCoiners in this thread I believe are holding BitCoins and want others to buy in to drive the value up of what they themselves own. It's no different than the commercials I used to hear probably 15-20 years ago from similar people saying "Buy GOLD". But Gold is at least something you can touch that most everyone finds valuable (its shiny, brilliant, etc). There's nothing behind Bitcoin, unless someone wants to explain what really is?

Does trading in this currency have benefits? Sure, but you still have to convert it back to USD to buy things locally or from places that don't accept BTC. IMO, if you are doing a ton of illegal activity and want to leave no paper trail - BTC is great. The guy that invented Silk Road was a big backer of it. But, for those of us who really are not either illegal or at least not big enough fish to elicit much attention, I'll stick with the USD.

[Jayvegas420]

There is not enough gold on this planet to back the amount of paper they're printing.

[raiders72001]

Is it brand new or just unknown to the masses? So many ?'s about btc. What happened to cash is king baby.

Created in 2009, The first bitcoin sportsbook opened in 2011.

[raiders72001]

I know it's the wrong thread but one more btc question...reading about the part about address reuse, if I always send from my coinbase address to the block chain address I always use, and then send to the same nitrogen address that I always use from that block chain address... What are the negative impacts?

Click "New Address" before making a deposit at Nitrogen and you'll get a new deposit address.

We post about a lot of this in the bitcoin forum. Many are now going from Coinbase/Circle to an exchange such as Poloneix or Bitstamp and then transferring to the sportsbook.

This will keep your Coinbase/Circle account from being shut down and erase trails.

[raiders72001]

The Pro BitCoiners in this thread I believe are holding BitCoins and want others to buy in to drive the value up of what they themselves own. It's no different than the commercials I used to hear probably 15-20 years ago from similar people saying "Buy GOLD". But Gold is at least something you can touch that most everyone finds valuable (its shiny, brilliant, etc). There's nothing behind Bitcoin, unless someone wants to explain what really is?

From reading this thread, as well as posts in the bitcoin forum, it seems the majority of pro bitcoin posters aren't holding bitcoins as an investment.

They are using bitcoins for no reason other than to deposit and withdraw from sportsbooks.

There are pump and dump schemes, but they are used for alternative crypto-currencies. http://coinmarketcap.com/

[ThaWoj]

Click "New Address" before making a deposit at Nitrogen and you'll get a new deposit address.

We post about a lot of this in the bitcoin forum. Many are now going from Coinbase/Circle to an exchange such as Poloneix or Bitstamp and then transferring to the sportsbook.

This will keep your Coinbase/Circle account from being shut down and erase trails.

Is Poloneix and Bitstamp just as legit as blockchain? Thx for the info

[theviking]

No, but I can recognize value and risk when I see it. The fluctuations in value of Bitcoins are not worth the risk I want to take on by holding them. To me, Bitcoins are sort of like a commodity. But there's nothing actually inherently behind it that is of any value. It'd be like if 5 dimes wanted to pay me in barrels of oil. I wouldn't know on a daily basis how much that oil they paid me was worth. But, I would still at least be confident it was worth something, because everyone NEEDS oil. Or bushels of corn, or any other commodity you can think of.

But Bitcoin - what is backing it? By itself, is has no value. The US $$$ are backed against the gold standard. Bitcoin is backed against virtually nothing - other than a group of people decided it had value, so they were going to trade with it. I still don't know how it even got started or how any person?? could create their own currency and have millions of people buy into it and assign it some value?

The Pro BitCoiners in this thread I believe are holding BitCoins and want others to buy in to drive the value up of what they themselves own. It's no different than the commercials I used to hear probably 15-20 years ago from similar people saying "Buy GOLD". But Gold is at least something you can touch that most everyone finds valuable (its shiny, brilliant, etc). There's nothing behind Bitcoin, unless someone wants to explain what really is?

Does trading in this currency have benefits? Sure, but you still have to convert it back to USD to buy things locally or from places that don't accept BTC. IMO, if you are doing a ton of illegal activity and want to leave no paper trail - BTC is great. The guy that invented Silk Road was a big backer of it. But, for those of us who really are not either illegal or at least not big enough fish to elicit much attention, I'll stick with the USD.

Do you consider it as to big risk to have your money in bitcoin 1 hour ? you do know at once you deposit them in lots of bookmakers,like 5dimes, they convert them to dollar again ? So its possible to have your money in bitcoin just some minutes, have a look to tradeview history in bitstamp.com to see how much the bitcoin fluctates every 30 minutes, the last weeks, usually its VERY little as you can see

[theviking]

Is Poloneix and Bitstamp just as legit as blockchain? Thx for the info

5dimes uses bitstamp when they check the value of bitcoin.