Online sportsbook 5Dimes officially adds Bitcoin to cashier

**trytrytry** · 07-30-14, 12:08 PM

methods like this well be the future for off shore you would have to think. might as well start to learn about it and do it a few times to give you options.

**PharaohUB** · 07-30-14, 12:09 PM

Nice if they have withdraws too I am a 5Dimes Lifer.

**trytrytry** · 07-30-14, 12:10 PM

Edit by Admin: The policy has been updated. Exclusive bitcoin depositors may cash out with no limit free of charge (subject to availability).

do they mean at a time or forever?

5Dimes added the ability for users who deposit with bitcoin to request a payout in bitcoin, up to the amount deposited. This payout method is subject to availability.

**SBR Forum** · 07-30-14, 12:12 PM

Originally posted by trytrytry

do they mean at a time or forever?

5Dimes added the ability for users who deposit with bitcoin to request a payout in bitcoin, up to the amount deposited. This payout method is subject to availability.

Edit by Admin: The policy has been updated. Exclusive bitcoin depositors may cash out with no limit free of charge (subject to availability).

**jjgold** · 07-30-14, 01:00 PM

Not bad with policy with withdrawls /5 Dimes

Going to try

**SBR Forum** · 07-30-14, 03:40 PM

Hi guys,

5Dimes has updated the policy for Bitcoin payouts. Those who deposit in Bitcoin can request a payout in bitcoin, no limit & no fees, subject to availability.

**bookie** · 07-30-14, 06:46 PM

I still don't get the "subject to availability" thing. Is it possible for them to say, "We don't happen to have any Bitcoin with which to pay you and it's not our problem."

This would be devastating because their withdrawal fees are hefty so if you went in thinking it was a BitCoin book and they pulled the "subject to availability" clause you'd be stuck.

It seems weird to me that they don't want to take responsibility for keeping a Bitcoin inventory so that they can guarantee the quick and certain payouts that Bitcoin makes possible.

Also, any word if the long term plan is to let bettors bet in Bitcoin?

**jjgold** · 07-30-14, 06:53 PM

good move SBR

always looking towards future

**PharaohUB** · 07-31-14, 09:02 AM

Originally posted by SBR Forum

Hi guys,

5Dimes has updated the policy for Bitcoin payouts. Those who deposit in Bitcoin can request a payout in bitcoin, no limit & no fees, subject to availability.

Huge move for 5Dimes. They had lost my business and I'm sure others to Bitcoin books and probably more to come. I don't know why it took so long for a big player to make a move. Bitcoin is an obvious fit for this industry. Withdraw and deposit fees for about a penny for both players involved. Anonymity of financial transactions. I'm surprised one of the smaller shops like 1VICE didn't try to jump on this one to get an edge in the industry, but as usual 5Dimes is ahead of the rest.

**PharaohUB** · 07-31-14, 09:13 AM

Not to mention EASY transactions don't have to go to Walmart and send money to BULGA HUGO FERRERER GONZALEZ anymore

**jjgold** · 07-31-14, 09:24 AM

I wonder how much Bitcoin 5Dimes has in reserve??

If it becomes popular and too many withdrawals say a guy wants $3000 in bitcoin and 5Dimes does not have??

**LordVodka** · 07-31-14, 11:20 AM

Originally posted by PharaohUB

Not to mention EASY transactions don't have to go to Walmart and send money to BULGA HUGO FERRERER GONZALEZ anymore

You mean I dont have to send money to Juan Salazar Rodriguez Lopez Miramar of Costa Rica anymore?

**trytrytry** · 07-31-14, 11:21 AM

Originally posted by LordVodka

You mean I dont have to send money to Juan Salazar Rodriguez Lopez Miramar of Costa Rica anymore?

wait which is the first first name there? or the second last name? or the first second last name???

**PharaohUB** · 07-31-14, 11:28 AM

Originally posted by trytrytry

wait which is the first first name there? Or the second last name? Or the first second last name???

first name: Juan
first last name: Salazar
first middle last name: Rodriguez
second middle last name: Lopez
second to last last name: Miramar
last last last name: Smith

**capitalist pig** · 07-31-14, 11:42 AM

Ok say I deposit 10 btc at $600 each giving me a balance of $6k then the next day Btc falls 50% for whatever reason, is my balance still $6k or did my balance just become $3k? Somebody is going to be a loser and I doubt it's the book.

Later

**Russian Rocket** · 07-31-14, 11:46 AM

Originally posted by capitalist pig

Ok say I deposit 10 btc at $600 each giving me a balance of $6k then the next day Btc falls 50% for whatever reason, is my balance still $6k or did my balance just become $3k? Somebody is going to be a loser and I doubt it's the book.

Later

My understanding is that as soon you deposit BTC, 5Dimes automatically converts them into a fixed dollar figure at the current market price. That figure would stay the same regardless of the BTC market fluctuations. So, in your example your balance would remain at 6K.

**physed** · 07-31-14, 11:47 AM

Who here on this forum will use it first and tell us their experience using it.

**PharaohUB** · 07-31-14, 02:24 PM

I deposited today. Took about an hour to get in my account. Translated to cash in my account. Ill let you know if I'm lucky enough to withdraw.

**kaliboyz** · 07-31-14, 04:55 PM

Hi Pharaoh, which bit coin company you having an account with? Thanks.

**BigSpoon** · 07-31-14, 05:56 PM

It would be nice if they added Instadebit back as an option again, or even Ecopayz.

**HuskerExpat** · 08-01-14, 12:17 AM

Originally posted by PharaohUB

I deposited today. Took about an hour to get in my account. Translated to cash in my account. Ill let you know if I'm lucky enough to withdraw.

Same for me. I deposited into my account. Took about an hour and I had an email confirmation at the same time. Nice that they deposit at the mid-point between the bid and ask from Bitstamp. That's about as favorable as I could hope for.

**jjgold** · 08-01-14, 09:51 AM

lets see how withdrawals go

The issue I see is Bitcoin is very confusing to set up and do not know if many posters will get accounts at the exchanges

**TheMoneyShot** · 08-01-14, 11:49 AM

I thought that the Feds were onto this guy who created "BitCoin"

What happens if our government just declares "BitCoin" Zero Value?

The government can do whatever they want... it's not even a real currency according to their laws.

**Art Vandeleigh** · 08-01-14, 03:11 PM

Originally posted by TheMoneyShot

I thought that the Feds were onto this guy who created "BitCoin"

What happens if our government just declares "BitCoin" Zero Value?

The government can do whatever they want... it's not even a real currency according to their laws.

Bitcoin is a pretty complicated concept. You should probably set aside a couple of hours to do some research on it. It works like nothing else you have ever seen or could have imagined

**Hareeba!** · 08-01-14, 03:28 PM

Originally posted by TheMoneyShot

I
What happens if our government just declares "BitCoin" Zero Value?

The government can do whatever they want... it's not even a real currency according to their laws.

You're right. Anyone, including a government can "declare" something has zero value.

But then there's the whole rest of the world which will make their own determination of something's value and trade it accordingly despite what you, I or some government might like to think.

**HuskerExpat** · 08-01-14, 04:41 PM

Originally posted by TheMoneyShot

I thought that the Feds were onto this guy who created "BitCoin"

What happens if our government just declares "BitCoin" Zero Value?

The government can do whatever they want... it's not even a real currency according to their laws.

Genius. Pure genius.

**ACoochy** · 08-01-14, 05:49 PM

Originally posted by TheMoneyShot

I thought that the Feds were onto this guy who created "BitCoin"

What happens if our government just declares "BitCoin" Zero Value?

The government can do whatever they want... it's not even a real currency according to their laws.

Lol nfi...

luv it

**TheMoneyShot** · 08-01-14, 06:12 PM

Laugh all you guys want. When the govt declares Zero. You have zero. You guys act like we're playing Space Invaders and Pac Man from Atari. This is an entirely new world. It's not even a legal currency. Like the blind leading the blind.

**Hareeba!** · 08-01-14, 06:29 PM

Originally posted by TheMoneyShot

Laugh all you guys want. When the govt declares Zero. You have zero. You guys act like we're playing Space Invaders and Pac Man from Atari. This is an entirely new world. It's not even a legal currency. Like the blind leading the blind.

Which government?
Yours?
Mine?
Just absurd man!
No government has control enough to make worthless an internationally traded commodity.

**jjgold** · 08-01-14, 06:55 PM

Originally posted by Art Vandeleigh

Bitcoin is a pretty complicated concept. You should probably set aside a couple of hours to do some research on it. It works like nothing else you have ever seen or could have imagined

YES

I say as far as Bitcoin proceed with caution as you need to know what your doing

**phillysfinest4** · 08-01-14, 07:04 PM

I am still trying to understand. I get the concept of investing in bit coins, but not to covery bak to bitcoins. So say i deposit 100 us dollars to what 1/6 of a bitcoin, then i get 100 bak into my 5d account? Thanks

**Hareeba!** · 08-01-14, 07:21 PM

Originally posted by phillysfinest4

I am still trying to understand. I get the concept of investing in bit coins, but not to covery bak to bitcoins. So say i deposit 100 us dollars to what 1/6 of a bitcoin, then i get 100 bak into my 5d account? Thanks

Deposit in bitcoin
They convert it to $
You bet $ and win $
Withdraw $ balance converted back to bitcoin

**HuskerExpat** · 08-01-14, 08:11 PM

Originally posted by TheMoneyShot

Laugh all you guys want. When the govt declares Zero. You have zero. You guys act like we're playing Space Invaders and Pac Man from Atari. This is an entirely new world. It's not even a legal currency. Like the blind leading the blind.

You're wrong on so many levels. That's why we're laughing. First of all, the government says that Bitcoin is a commodity (not that I agree, but that's their conclusion). Isn't that something of an endorsement of it already? Second, under your logic, cocaine has no value because the government has outlawed it. Third, too many big U.S. companies area already accepting Bitcoin as payment. Their lobbying dollars (or Bitcoins) are going to keep the government from doing anything drastic. Fourth....

**phillysfinest4** · 08-01-14, 09:14 PM

So deposit 100 usd, get 100 usd into 5d acct?

QUOTE=Hareeba!;22345033]Deposit in bitcoin
They convert it to $
You bet $ and win $
Withdraw $ balance converted back to bitcoin[/QUOTE]