[sumtingwong]

The book says this method is in "Beta testing".

I am new to bitcoin and am using a company called circle to send and receive bitcoin.

I am leary about this but it appears the transaction is free.

One worry I have is the book takes out the $1400 this morning but the transaction takes 24-48 hours or more and the btc index tanks.

Please advise.

5:42 pm edit: ended up getting $1436 by the time it cleared the blockchain and went through Circle, ended up making money. I Love Heritage!

[capitalist pig]

It's on downward spiral, once it fell thru $300 it's anyone's guess as to where it stops next, I'd get my money out its more likely to go down than up

Later

[sumtingwong]

when I made a $100 deposit with bitcoin to this book after a few minutes it had gone down $3 leaving me with $97 deposit in USD by the time they verified it.

btc is extremely volatile

[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.

[cburland10]

Personally I am buying now. The price will go back up. Patience is a virtue.

[GunShard]

[jjgold]

Bitcoin is getting lower and lower

look at chart

[Optional]

The book says this method is in "Beta testing".

I am new to bitcoin and am using a company called circle to send and receive bitcoin.

I am leary about this but it appears the transaction is free.

One worry I have is the book takes out the $1400 this morning but the transaction takes 24-48 hours or more and the btc index tanks.

Please advise.

Another forum user said it took a week or so for Circle to process his withdraw to cash first time. This was about a month or so ago.

Anyone have a recent experience with Circle to share?

Do they use the rate at the moment you place the sell order? Or is it the price when Circle process it?

If the former it does not really matter what happens with the price too much as you can lock it in immediately after receipt.

[Sam Odom]

falling prices (or rising) has little to do with what we are interested in = moving $$$ around

@ OP - send book's BTC to a personal btc wallet on a smart phone/device or PC. Then send btc to Circle after it clears (20mins) 'sell' BTC on Circle which will convert to cash and it will be in your Bank acct in 4 biz days

[Sam Odom]

BTW--- once you sell on Circle the BTC fluctuation during the ensuing 3-4 days has no affect on your deposit into your bank acct

So... from Book ---> personal wallet ---> Circle ---> sold & on the way to you bank may take 1hr +/-

[sumtingwong]

my concern is that the book takes the money out of account at time of withdrawal, but they take 24-48 hours to process so during that 48 hours you are open to a drop in btc.

also, Circle can generate a btc address so you can send the money directly to them and avoid your personal wallet

[sourtwist]

There has to be a better way. Bitcoin is an overrated way of transferring $, and it is too volatile for investment.

[Ted Sheckler]

my concern is that the book takes the money out of account at time of withdrawal, but they take 24-48 hours to process so during that 48 hours you are open to a drop in btc.

also, Circle can generate a btc address so you can send the money directly to them and avoid your personal wallet

http://www.sportsbookreview.com/foru...l#post23289953


There's how the process went for me. 5Dimes said 24-48 hours when requested, it only took 4 hours and then it was on me to transfer/sell, and it hit my bank account this morning. if you request on a Monday, it should all be over and done with and in your bank account by Friday I would imagine. I had to deal with holidays and weekend.

[Optional]

BTW--- once you sell on Circle the BTC fluctuation during the ensuing 3-4 days has no affect on your deposit into your bank acct

So... from Book ---> personal wallet ---> Circle ---> sold & on the way to you bank may take 1hr +/-

Thanks Sam. Great info.

my concern is that the book takes the money out of account at time of withdrawal, but they take 24-48 hours to process so during that 48 hours you are open to a drop in btc.

also, Circle can generate a btc address so you can send the money directly to them and avoid your personal wallet

Circle have all your personal info and US banking info. If you are happy to transfer from that entity direct to a bookmaker and imagine no one will ever care, that's fine. Or you can setup a standalone wallet like the blockchain.info free one and take an extra 10 seconds to send from circle to there before involving any books. Or so people have told us a few times in other bitcoin threads.

[sumtingwong]

good point, I do have a blockchain wallet

[Sam Odom]

my concern is that the book takes the money out of account at time of withdrawal, but they take 24-48 hours to process so during that 48 hours you are open to a drop in btc.

also, Circle can generate a btc address so you can send the money directly to them and avoid your personal wallet

You need to change books... Heritage takes 15-20 mins to send BTC w/d and deposits are instant

There is 'talk' that Coinbase & Circle will monitor some accts and trace... If coming or going from or to a gambling site they will freeze acct until you give an explanation. Using a personal wallet as a middle man eliminates that from happening

[sourtwist]

At what point are the s portsbooks going to quit with Bitcoin? They have been doing it long enough to lose enough money to not make it worth it. They are holding onto a losing proposition. They are giving players cash in their accounts for something that is steadily decreasing. Its coming to an end very soon as an option for "transferring" funds.

[Sam Odom]

There has to be a better way. Bitcoin is an overrated way of transferring $

How many BTC transfers have you made to/from sportsbooks ?

[sumtingwong]

You need to change books... Heritage takes 15-20 mins to send BTC w/d and deposits are instant

There is 'talk' that Coinbase & Circle will monitor some accts and trace... If coming or going from or to a gambling site they will freeze acct until you give an explanation. Using a personal wallet as a middle man eliminates that from happening

in live chat Heritage said 24 hours and my deposits have taken hours never instant, but I have nothing but high praise for the best book Heritage

[Optional]

At what point are the s portsbooks going to quit with Bitcoin? They have been doing it long enough to lose enough money to not make it worth it. They are holding onto a losing proposition. They are giving players cash in their accounts for something that is steadily decreasing. Its coming to an end very soon as an option for "transferring" funds.

I doubt Heritage or 5Dimes would have gone into the system with the idea of holding and hoping on price rises. I'd bet dollars to donuts they have a guaranteed way to lock in the same or similar price they give us on deposits.

[Sam Odom]

sumtingwong , do you use the automated online BTC deposit method at Heritage ?

[Sam Odom]

I doubt Heritage or 5Dimes would have gone into the system with the idea of holding and hoping on price rises. I'd bet dollars to donuts they have a guaranteed way to lock in the same or similar price they give us on deposits.

[sumtingwong]

ok clock starts now, just requested payout and funds were deducted from balance. pray with me that BTC doesn't plummet

[Sam Odom]

better prayer would be it goes up

276.80 on bitstamp

[sumtingwong]

I am as nervous now as I am while waiting on a bet

[sourtwist]

Maybe I wasnt making myself clear.

Im sure that they are taking in more deposits with bicoin than whay they have been paying out. Therefore they are holding b itcoins in reserve. Those reserves are losing value every day.

Im sure they are not converting them to cash every day because that would guarantee a loss.

[capitalist pig]

You need to change books... Heritage takes 15-20 mins to send BTC w/d and deposits are instant

There is 'talk' that Coinbase & Circle will monitor some accts and trace... If coming or going from or to a gambling site they will freeze acct until you give an explanation. Using a personal wallet as a middle man eliminates that from happening

I use coinbase and always send my coins thru helix lite on the TOR network. Then move them into coinbase or vice versa, HL gives you back clean coins and I've had no issues doing it this way.

Later

[Sam Odom]

Good info CPig

[sumtingwong]

makes me more nervous, went to bitstamp to look at price and see this

Bitstamp Service Temporarily Suspended

We have reason to believe that one of Bitstamp’s operational wallets was compromised on January 4th, 2015.

As a security precaution against compromises Bitstamp only maintains a small fraction of customer bitcoins in online systems. Bitstamp maintains more than enough offline reserves to cover the compromised bitcoins.
IN THE MEANTIME, PLEASE DO NOT MAKE DEPOSITS TO PREVIOUSLY ISSUED BITCOIN DEPOSIT ADDRESSES. THEY CANNOT BE HONORED!
Customer deposits made prior to January 5th, 2015 9:00 UTC are fully covered by Bitstamp’s reserves. Deposits made to newly issued addresses provided after January 5th, 2015 9:00 UTC can be honored.
Bitstamp takes our security and soundness very seriously. In an excess of caution, we are suspending service as we continue to investigate. We will return to service and amend our security measures as appropriate.
Bitstamp Team

[Sam Odom]

you may be fukked









































j/k

[sumtingwong]

this is the index Heritage uses http://www.coindesk.com/price/

[sumtingwong]

Im wondering if this even matters, at the time they process it, Heritage will send me $1400 in btc at whatever price that is at that moment so it will still be 1400 coming from them at that time. I should get 1400 at that moment. they arent locking in the price of btc at time of withdrawal but at time they process it.

once I get the 1400 in my wallet then I am susceptible to price reduction

[Sam Odom]

relax...

[lilbpack1]

lost a ton of value. i got 5 coins and lost close to 30+ x 5 = 150 bucks in lost value if i wan to sell

[trytrytry]

are you still waiting for the 1400?