$25K withdraw via bitcon method....

[SystemPlays999]

Hello SBR Posters -

First off, I am new to bitcoin thingy... I am planning on withdrawing 1/2 of my bankroll ($50K) via bitcoin method. I have created an account with coinbase.com... and after a few hours of reading about coinbase, they seem to be legit. I usually withdraw via wire in the amount of somewhere between 15K to 35K and it worked perfectly fine. However, wire is costly. According to my sportsbook, it's free to withdraw via bitcoins up to $50K without charge. For those with experience with coinbase.com, please do provide your feedback. What are the fees bitcoin.com charges and how long does it take to hit my bank account after I sell it? Thanks....

And by the way JJ, Vegas is for losers

[BuckyOne]

What if you did a couple of test withdrawals for a dime apiece? That's the beauty of the wire - it works - a incompetent individual could screw up a bit coin transaction.

[muldoon]

I'd be cautious with coinbase

https://www.reddit.com/r/poker/comments/2dxuqw/be_careful_seals_users_coinbase_has_blocked_me/

[BuckyOne]

I'd be cautious with coinbase
https://www.reddit.com/r/poker/comme...as_blocked_me/

Good point!
blocked as well over one lousy withdrawal.
Works great for Canada guys

[muldoon]

OP may want to google "bitcoin mixer"

Just sayin...

[BitCoinTalk]

OP may want to google "bitcoin mixer"

Just sayin...

Then it's cheaper to do a wire...

I use CoinBase to withdraw from all of my books, and never had an issue. It's been seemless.

[spro23]

it takes coinbase over 4 days to 'deliver' your cash once you sell. that's the flaw with bitcoin- sure the initial transaction is instant, but converting it to cash takes days and days and these exchanges have all sorts of weekly limits.

Even If you find buyers on localbitcoins.com, lets say they use paypal....it takes paypal phucking days to put the cash in your bank. Its the slowness of exchanges and converting to cash that makes bitcoin not really faster than any other method.

[BitCoinTalk]

BitStamp is also a good reputable exchange that I've used. The international wire fee is $15 + 0.09% (For your $25k that's only $22.5...) It's pretty good IMO.

[themike78]

it takes coinbase over 4 days to 'deliver' your cash once you sell. that's the flaw with bitcoin- sure the initial transaction is instant, but converting it to cash takes days and days and these exchanges have all sorts of weekly limits.

Even If you find buyers on localbitcoins.com, lets say they use paypal....it takes paypal phucking days to put the cash in your bank. Its the slowness of exchanges and converting to cash that makes bitcoin not really faster than any other method.

This is the worst thing about bitcoins. Acually getting the cash for them. Like you said it takes days. Yeah the bitcoin is instant but what the fuk good is a bitcoin? Its not the same as having cash in hand.