[raiders72001]

wooo hooo its confirmed

Good to hear.

[sourtwist]

Woo hoo

Sumtingnotwongnow

[Ted Sheckler]

Just like Sam Odom said... you need a book that gives you a payout of Bitcoin within minutes. I don't see any value of a book waiting 2-3 days for a bitcoin payout.

I'm still very skeptical of bitcoin. Too many people have jumped the gun with this internet currency. Cash is King. Always will be.

5dimes had my usual route of payout shutdown for 2 weeks of the holiday. The bitcoin payout worked out good, just was a little weird opening a couple accounts for it for all the transferring. I'll be back at my usual method, it's worth the 10 bucks or whatever the difference is after the fee. But this is a nice extra way of doing things, without having to step foot inside a bank or place to acquire the money.

[BitCoinTalk]

The 1st bitcoins I bought were 5 dollars & change each

You and me both broth'a...
Cheers!

[Big Bear]

what the fukk is bitcoin?

str8 cash homie!

[trytrytry]

Thank you for inadvertently explaining that heritage is a book that is LOSING money by having bitcoin as a deposit/withdrawal option. It is the exact point I was trying to make by saying that this option is not a viable one to continue the "transfer" of funds.

doubt it when they hold large balances of coins there are also exchanges to put or call price points as a hedge against price fluctuations (so a trickle small loss perhaps overall due to transaction fees etc..)...they are not in the business of losing money. heritage is like a printing money machine...

overall this bitcoin transaction is much cheaper than the other methods for books especially due to something called *********** chargebacks.. and the silly ** (everyone now banned) and ** fiasco stuff...

bitcoins are the way to go if your book takes them you should be pleased and happy....

[raiders72001]

doubt it when they hold large balances of coins there are also exchanges to put or call price points as a hedge against price fluctuations (so a trickle small loss perhaps overall due to transaction fees etc..)...they are not in the business of losing money. heritage is like a printing money machine...

overall this bitcoin transaction is much cheaper than the other methods for books especially due to something called *********** chargebacks.. and the silly ** (everyone now banned) and ** fiasco stuff...

bitcoins are the way to go if your book takes them you should be pleased and happy....

Looks like you made a full conversion. I'm sure that you're beating them up. Good thing you can't get banned.

[raiders72001]

We need SBR to do some more full reviews on the bitcoin books.

[LordVodka]

I bought bitcoins last week for deposit at a book. They told me "thanks, you'll get you're bitcoins in a week."

This is bad news. The price can go down in that time and it already has gone down.

[Sam Odom]

Vodka , did you register a CC with your bank info

[Da_Engineer]

I thought the purpose of b itcoins being added as an option would be mostly for the purpose of instant transactions. If having to wait a couple days for a withdrawal, im choosing a more traditional option.

Also, if they are doing an instant payout, they have been losing money on a daily basis by keeping enough to payout quickly.

As I stated already...

There is absolutely no reason for BTC withdrawals to take more than a minute. If they are holding BTC, it takes less than a minute to automatically send and if they aren't holding. As I also stated, my program would be able to process a withdrawal within seconds.

So either way withdrawals should never take more than a minute and deposits depend on how many confirmations they want, but normally it's 30min max.

[LordVodka]

yeah, I'm using coinbase. They said that as soon as I register a CC I can buy instantly. Pure BS. I'm waiting till Thursday.

[Sam Odom]

yeah, I'm using coinbase. They said that as soon as I register a CC I can buy instantly. Pure BS. I'm waiting till Thursday.

I thought it was coinbase

I have both registered with them - secondary bank acct tho , one I opened many years ago just for offshore stuff

[LordVodka]

Let's see how this goes. First time using bitcoin at a regular book.

[raiders72001]

Just want to add that when you deposit and withdraw from a sportsbook, it's best not to make the transaction directly with Coinbase. Coinbase has shut down accounts presumed to be used for gambling.

I use blockchain.info for my transactions with sportsbooks but there are many wallets.

[ItsMeMrMattE]

for those of you at a fiat book that lets you transact in btc as well, it wouldnt be a bad move to cash out some of your bankroll to btc now. shouldn't take too long for it to reach $300 again and then you could just deposit it back into the bankroll.

[scottgodson1985]

there getting -110, and thats all they need longeterm, btc is great cause it deosn't leave a paper trail

[GunShard]

#Sharp video:

[Da_Engineer]

Saying Bitcoin is the biggest scam ever is like saying gold is the biggest scam ever.

Both have limited quantities, both are worthless on their own (you will tell me gold can actually be and is used for certain components, if they were used only for their electronic components it would be worth 1% of it's price).

Both are a means of bartering, they are worth whatever the population decides it's worth. Bitcoins are as stupid now as the internet was in the 70s. It's only a matter of time.

[ItsMeMrMattE]

to say that btc has no value is just ignorant now a days. ya at first you couldn't do that much with it but its to the point now where you can buy almost anything with it, including bullion.

[Ted Sheckler]

Saying Bitcoin is the biggest scam ever is like saying gold is the biggest scam ever.

Both have limited quantities, both are worthless on their own (you will tell me gold can actually be and is used for certain components, if they were used only for their electronic components it would be worth 1% of it's price).

Both are a means of bartering, they are worth whatever the population decides it's worth. Bitcoins are as stupid now as the internet was in the 70s. It's only a matter of time.

So Gold and Bitcoin are very similar?

Gold has to be mined, it just can't be made up, once it runs out, it's gone.
Bitcoin, someone can say "hey lets get 500 more bitcoin" and it can be done...Isn't it a make believe thing that the quantity can be endless whenever someone wants there to be more?

Maybe they aren't releasing more bitcoing, but say there are 1,000,000 in circulation, they can put 2,000,000 out there with a snap of the finger. If there is 1,000,000 gold coins out there, they have to go find more, they could be all tapped out and not have he 2,000,000 coins if they are needed.

[raiders72001]

So Gold and Bitcoin are very similar?

Gold has to be mined, it just can't be made up, once it runs out, it's gone.
Bitcoin, someone can say "hey lets get 500 more bitcoin" and it can be done...Isn't it a make believe thing that the quantity can be endless whenever someone wants there to be more?

Maybe they aren't releasing more bitcoing, but say there are 1,000,000 in circulation, they can put 2,000,000 out there with a snap of the finger. If there is 1,000,000 gold coins out there, they have to go find more, they could be all tapped out and not have he 2,000,000 coins if they are needed.

Bitcoins are also mined but in a different way.

[raiders72001]

What is Bitcoin mining?

Mining is the process of spending computing power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Bitcoin data center except that it has been designed to be fully decentralized with miners operating in all countries and no individual having control over the network. This process is referred to as "mining" as an analogy to gold mining because it is also a temporary mechanism used to issue new bitcoins. Unlike gold mining, however, Bitcoin mining provides a reward in exchange for useful services required to operate a secure payment network. Mining will still be required after the last bitcoin is issued.

https://bitcoin.org/en/faq#what-is-bitcoin-mining

[raiders72001]

How does Bitcoin mining work?

Anybody can become a Bitcoin miner by running software with specialized hardware. Mining software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created bitcoins issued into existence according to a fixed formula.For new transactions to be confirmed, they need to be included in a block along with a mathematical proof of work. Such proofs are very hard to generate because there is no way to create them other than by trying billions of calculations per second. This requires miners to perform these calculations before their blocks are accepted by the network and before they are rewarded. As more people start to mine, the difficulty of finding valid blocks is automatically increased by the network to ensure that the average time to find a block remains equal to 10 minutes. As a result, mining is a very competitive business where no individual miner can control what is included in the block chain.The proof of work is also designed to depend on the previous block to force a chronological order in the block chain. This makes it exponentially difficult to reverse previous transactions because this requires the recalculation of the proofs of work of all the subsequent blocks. When two blocks are found at the same time, miners work on the first block they receive and switch to the longest chain of blocks as soon as the next block is found. This allows mining to secure and maintain a global consensus based on processing power.Bitcoin miners are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the Bitcoin network because all Bitcoin nodes would reject any block that contains invalid data as per the rules of the Bitcoin protocol. Consequently, the network remains secure even if not all Bitcoin miners can be trusted.

............

[Ted Sheckler]

So there is theoretically an unlimited amount of Bitcoin.
There is a limited amount of gold.



Not very alike at all. Just like Cash, if the government wanted, they could just print more. They just can't produce gold out of nowhere.

[raiders72001]

So there is theoretically an unlimited amount of Bitcoin.
There is a limited amount of gold.



Not very alike at all. Just like Cash, if the government wanted, they could just print more. They just can't produce gold out of nowhere.

There's a finite number of bitcoins. I'm not an economist so I can be off base but it does seem more similar to gold than paper money.

[ItsMeMrMattE]

So there is theoretically an unlimited amount of Bitcoin.
There is a limited amount of gold.



Not very alike at all. Just like Cash, if the government wanted, they could just print more. They just can't produce gold out of nowhere.

Q) whats the difference between usd and btc when both can be used to purchase gold?
A) btc is more volatile.

Q) why is btc more volatile?
A) because the supply amount is known.

[Domestic]

There will never be more than 21 million bitcoins in circulation.
https://en.bitcoin.it/wiki/Controlled_supply

[raiders72001]

There will never be more than 21 million bitcoins in circulation.
https://en.bitcoin.it/wiki/Controlled_supply

From your link

This decreasing-supply algorithm was chosen because it approximates the rate at which commodities like gold are mined

[Domestic]

Also while there will never be more than 21 million bitcoins in circulation, the real number will actually be lower due to people unexpectedly dying before giving someone else access to their private keys, people losing harddrives/forgetting about their coins. We have probably already lost hundreds of thousands if not millions.

[LordVodka]

How can I buy more than $100 of bitcoin instantly?

[tb1984]

How can I buy more than $100 of bitcoin instantly?

On Coinbase, you need to wait 30 days after your first buy. Then, the limit will increase to $1000.

[LVHerbie]

I want to be able to move money around without sharp currency fluctuations and having to go back and forth to my bank account with every transaction.

How difficult is it to short BTC? Seems like if you can do this safely then you could balance off your holdings and basically have a functioning ewallet without the fluctuations associated with BTC, no?

[raiders72001]

I want to be able to move money around without sharp currency fluctuations and having to go back and forth to my bank account with every transaction.

How difficult is it to short BTC? Seems like if you can do this safely then you could balance off your holdings and basically have a functioning ewallet without the fluctuations associated with BTC, no?

Not a recommendation, just informational.

Coinsetter Bitcoin Exchange Now Offers Margin Trading & Shorting

Tweet

January 12, 2015 @ 1:53 pm By JD Alois

Post-Trade Settlement will Allow Some Customers to Trade Prior to Making a Deposit.
Coinsetter bitcoin exchange, has announced the ability for “select business customers” to trade on margin accounts. and “post trade settlement”. Post-trade settlement allows customers to place trades on Coinsetter’s order book before making a deposit. This feature allows customers to trade without holding large balances on an exchange, and his described as thus limiting their exposure to third-party risks. Certain customers will now also be allowed to Short Bitcoin as well.
Jaron Lukasiewicz, CEO of Coinsetter, said:

“We have been testing a post-trade settlement offering with select business customers since December, and its value is apparent. Coinsetter’s business customers, many of whom represent important institutions in the bitcoin space, can now access liquidity without having to worry about bitcoins being hacked or USD holdings becoming tied up. The program also helps growing companies reduce their working capital burdens.”

Coinsetter believes its new features improve security and infrastructure in the bitcoin market – something that was tested last week in the fallout from the Bitstamp hacking attack. After depositing collateral in the form of bitcoin, Coinsetter will allow select businesses to buy and sell bitcoin on margin, settling balances after trades are executed. This model is aligned with the settlement method of exchanges in other markets on Wall Street.

“The experienced team at Coinsetter is committed to providing clients with the most advanced bitcoin exchange in the world. The features announced today raise the bar even further.” Lukasiewicz added. “Our top priority remains security, and all users benefit from Coinsetter’s Securicoin technology. Bitcoins held in the SecuricoinŽ system are contained in highly protected offline wallets that never directly touch the internet. Furthermore, a human is always involved to verify the validity of each withdrawal.” .

Coinsetter, founded in 2012, is described as “Wall Streets’ leading bitcoin exchange for firms and individuals”.

http://www.crowdfundinsider.com/2015...ding-shorting/

[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.