whats the deal with bitcoins?

[bullheaddad]

Raiders, thanks. Appreciate it. I just started using btc and truly did enjoy the quick payout, however I was trying to avoid the mining fees with some wallets.. Good go know i can go directly to and from nitro. Ill have to check it out.

[raiders72001]

You can go directly if you want. My Coinbase account was shut down. It helps to go Coinbase/Circle to wallet to book but they can still shut you down.

Nitrogen is a book that I know of that you'll be safe using and you account won't be shut down. They use many wallets for payouts. Change your deposit address at Nitrogen. It only takes one click and you can do it up to 5 times a day.

Jetwin is another book that changes deposit addresses every time and they use 3 different wallets for payouts. They still recommend Coinbase/Circle to Blockchain to Jetwin. You shouldn't have your Coinbase/Circle account shut down for using Jetwin.

[jtoler]

1. Buy bitcoins through Coinbase.com or Circle.com. Link to bank account.

2. Set up a blockchain.info wallet.

3. Transfer bitcoins from Coinbase or Circle to blockchain.info wallet.

4. Make all deposits and withdrawals between your blockchain.info wallet and sportsbook.

5. To cash out transfer bitcoins from your blockchain.info wallet to Coinbase or Circle.

Misc.

A. Circle and Coinbase start off with fairly low limits that increase with time.

B. Localbitcoins.com is a great place to buy/sell. I've done Paypal transactions as well as depositing into someone's BkofAma account and having them put money in my bank account.

C. With localbitcoins, make sure that you are dealing with someone with a 100% reputation and many transactions. There have been a couple of chargebacks with Paypal/

D. LibertyX has locations where you can buy bitcoins in person. Free up to the first $1000 and 1% after that.

E. It seems very complicated at first but after a couple of transactions, it's very easy.


I'll post other ways of obtaining bitcoins later, more in detail that avoid red tape. There are also many wallets besides blockchain.info

coinbase has a wallet, why not send from there instead of going through the extra step of blockchain? Curious is all.

[Optional]

coinbase has a wallet, why not send from there instead of going through the extra step of blockchain? Curious is all.

Coinbase have been known to close accounts they suspect are being used to fund gambling. Apparently it helps to go to blockchain before a book.

[jtoler]

Coinbase have been known to close accounts they suspect are being used to fund gambling. Apparently it helps to go to blockchain before a book.

Ahh ok makes sense.

[jtoler]

You can go directly if you want. My Coinbase account was shut down. It helps to go Coinbase/Circle to wallet to book but they can still shut you down.

Nitrogen is a book that I know of that you'll be safe using and you account won't be shut down. They use many wallets for payouts. Change your deposit address at Nitrogen. It only takes one click and you can do it up to 5 times a day.

Why was your coinbase account shut down?

[raiders72001]

Why was your coinbase account shut down?

suspected gambling.

[jtoler]

suspected gambling.

Was that even after you used blockchain as a middle man or going from coinbase directly to book? If so I dont see how I wont get shut down.

[Optional]

Was that even after you used blockchain as a middle man or going from coinbase directly to book? If so I dont see how I wont get shut down.

It does sound like they could shut down a lot of people if they chose to. But we haven't seen many people reporting it happening.

[keepitsimple]

Is anyone taking advantage of the recent 50% increase in bitcoin value on the spot market?

Think about it. 2 months ago, 1 bitcoin was worth approx 225$/coin. Today its approx $350/coin.

If you had deposited 1k to your betting account via bitcoin to let say bookmaker and then withdrawn your 1k without betting anything

you would be receiving approx. $1500 back without betting anything.

[raiders72001]

It does sound like they could shut down a lot of people if they chose to. But we haven't seen many people reporting it happening.

Now they've gone to sending out an email asking who you buy and sell from before closing the account.

[Optional]

Now they've gone to sending out an email asking who you buy and sell from before closing the account.

What's the correct answer to that question?

[raiders72001]

What's the correct answer to that question?

Buy and sell computer equipment and would like to keep the names private seems to work.

[unluckysob]

whats a VPN ???

[raiders72001]

whats a VPN ???

Virtual Private Network. It changes your IP address making it seem as though you are in a different location.

[TheMoneyShot]

Just did my first BTC transaction for a hundro. Something small to see if it's working ok.

Just in case posters are curious on how I did it. I took raiders72001's advice.

1. Purchased instantly at Coinbase

2. Then, transferred from Coinbase to BlockChain.info (WALLET)

3. Then, from your BlockChain,info (Wallet) to any sportsbook. I chose 5Dimes.

4. Waiting on 5Dimes to credit my account.

If people are curious in how many fees you lose on a 100.

1. I lost $0.99 (At Coinbase) to process transaction to get $100 worth of bitcoin. So... $100 - $0.99 = $99.01

2. I lost $0.08 to process my BTC from Coinbase to BlockChain.info (WALLET) So $99.01 - $0.08 = $98.93

3. I lost $0.29 From BlockChain.info to 5Dimes (fees). So $98.93 - $0.29 = $98.64

4. Processing time for 5Dimes to change currency in your account was about 20 minutes. Not bad.

So I lost a total of $1.36 which I guess isn't bad. Percentage wise... that's 1.36%

So is bitcoin right for you??

[jimmy007oc]

Just did my first BTC transaction for a hundro. Something small to see if it's working ok.

Just in case posters are curious on how I did it. I took raiders72001's advice.

1. Purchased instantly at Coinbase

2. Then, transferred from Coinbase to BlockChain.info (WALLET)

3. Then, from your BlockChain,info (Wallet) to any sportsbook. I chose 5Dimes.

4. Waiting on 5Dimes to credit my account.

If people are curious in how many fees you lose on a 100.

1. I lost $0.99 (At Coinbase) to process transaction to get $100 worth of bitcoin. So... $100 - $0.99 = $99.01

2. I lost $0.08 to process my BTC from Coinbase to BlockChain.info (WALLET) So $99.01 - $0.08 = $98.93

3. I lost $0.29 From BlockChain.info to 5Dimes (fees). So $98.93 - $0.29 = $98.64

4. Processing time for 5Dimes to change currency in your account was about 20 minutes. Not bad.

So I lost a total of $1.36 which I guess isn't bad. Percentage wise... that's 1.36%

So is bitcoin right for you??

Lol, recently I send BTC directly from Coinbase to either 5D or Nitrogen to avoid the small tiny fee. I use blockchain.info only if I withdraw

[raiders72001]

Just did my first BTC transaction for a hundro. Something small to see if it's working ok.

Just in case posters are curious on how I did it. I took raiders72001's advice.

1. Purchased instantly at Coinbase

2. Then, transferred from Coinbase to BlockChain.info (WALLET)

3. Then, from your BlockChain,info (Wallet) to any sportsbook. I chose 5Dimes.

4. Waiting on 5Dimes to credit my account.

If people are curious in how many fees you lose on a 100.

1. I lost $0.99 (At Coinbase) to process transaction to get $100 worth of bitcoin. So... $100 - $0.99 = $99.01

2. I lost $0.08 to process my BTC from Coinbase to BlockChain.info (WALLET) So $99.01 - $0.08 = $98.93

3. I lost $0.29 From BlockChain.info to 5Dimes (fees). So $98.93 - $0.29 = $98.64

4. Processing time for 5Dimes to change currency in your account was about 20 minutes. Not bad.

So I lost a total of $1.36 which I guess isn't bad. Percentage wise... that's 1.36%

So is bitcoin right for you??

Some of those losses are just the price differences in exchanges. You can show a loss or gain but the price is the same if you reversed the charge.

Some fiat books use Bitstamp. Bitcoin books that allow you to keep money in different currencies may use https://bitcoinaverage.com/#USD

Here are the prices at the different exchanges http://bitcoincharts.com/markets/

The most that you will ever pay to withdrawal at a Bitcoin book is .0001 BTC (little over 3 cents). Most are free. When I deposit I pay a miners fee of .0001 BTC.

I'm not sure what the fiat books charge.

[raiders72001]

Coinbase and blockchain.info use different prices per bitcoin.

[TheMoneyShot]

Lol, recently I send BTC directly from Coinbase to either 5D or Nitrogen to avoid the small tiny fee. I use blockchain.info only if I withdraw

I got confused. I thought you needed to do the block chain thing for deposits and withdrawals. I screwed up on that. I guess it's only for payouts? Thanks for the info.

[jimmy007oc]

I got confused. I thought you needed to do the block chain thing for deposits and withdrawals. I screwed up on that. I guess it's only for payouts? Thanks for the info.

The reason we use Blockchain is for preventing Coinbase from blocking your account due to gambling activities. There are small chance that they will find out about it. But so far, my account is still okay.
to all: has anyone got problem with instant buy? I got my credit card removed this weekend when I tried to buy some extra coin before Blackfriday.

[Optional]

I got confused. I thought you needed to do the block chain thing for deposits and withdrawals. I screwed up on that. I guess it's only for payouts? Thanks for the info.

You didn't get confused. The idea is not to do any direct transfers from Coinbase/Cirlce to a book. Deposits or withdrawals.

[Triumph]

why are people so high on bitcoins...whats the advantages...please someone explain

Thieves are high on Bitcoin because they can steal and never worry about getting caught.

[jtoler]

The reason we use Blockchain is for preventing Coinbase from blocking your account due to gambling activities. There are small chance that they will find out about it. But so far, my account is still okay.
to all: has anyone got problem with instant buy? I got my credit card removed this weekend when I tried to buy some extra coin before Blackfriday.

They might still find out, I wouldnt doubt if sportsbooks use some of the same addresses and I wouldnt doubt Coinbase has plenty known addresses tied to certain books just in case, even though its easy to generate a new one. I think maybe when they see coins mostly coming to them and being converted out they may still suspect gambling. Ive read some stories but who knows if some details arnt left out.

[big joe 1212]

I was trying to link my credit card to coinbase so I can instantly fund my account. They say they charge 2 small amounts to my credit card and then I have to tell coinbase what those amounts are.

The problem is that coinbase only charged 1 amount. Do they charge the 2nd amount on a different day?

[3runhomer]

I was trying to link my credit card to coinbase so I can instantly fund my account. They say they charge 2 small amounts to my credit card and then I have to tell coinbase what those amounts are.

The problem is that coinbase only charged 1 amount. Do they charge the 2nd amount on a different day?

That seems strange. For me, it was 2 transactions back-to-back...You might want to contact them and ask.

[Theo_Goodman]

coinbase

The problem is that coinbase only charged 1 amount. Do they charge the 2nd amount on a different day?

Yea I would contact support right away.

Coinbase is good for people in the states, however as posted in this thread they have been known to shut down accounts that send directly to known bitcoin addresses connected to betting sites. There are a few other places to try out if you had a bad experince with coinbase. Kraken.com also based in the US, I would also say bitstamp but at this point they look like they are going the route of coinbase and I would not suggest using them.

If you have some experince with bitcoin you might want to try out localbitcoins.com and meet someone in your local area and buy bitcoin for cash. If you would like to purchase a large sum of bitcoin and not deal with coinbase or kraken then I would go with bitfinex, you are going to have to pay wire fees to Hong Kong though.

-Theo

[big joe 1212]

Ok thanks

[TheMoneyShot]

has anyone got problem with instant buy? I got my credit card removed this weekend when I tried to buy some extra coin before Blackfriday.

I used InstaBuy this past Saturday (First Deposit Ever Using Bitcoin.) $100 Had no issues with it. My bank deducted the amount on Tuesday.

I was trying to link my credit card to coinbase so I can instantly fund my account. They say they charge 2 small amounts to my credit card and then I have to tell coinbase what those amounts are.

The problem is that coinbase only charged 1 amount. Do they charge the 2nd amount on a different day?

Big Joe... try using a CC that you can look online quickly to see those 2 pending charges. When I linked up the card.... charges were almost instantaneous.

You said only one charge was shown? I don't know what went wrong?

Is there a cancel button?? Or a resend button? Try that. Hope it helps.

[jimmy007oc]

I asked Bitcoin's CS about this issue. This is a bug in their system, they are working on it. I just tried to verified my CC again this morning. It works. 2 pending charges show up in my CC.

[LVHerbie]

Anyone have a long wait getting a response from coinbase by email (is this there only method of communication)?

Also, in other threads, people were talking about scrambling up your bitcoins before depositing to coinbase... Is this no longer considered necessary?

[jimmy007oc]

Anyone have a long wait getting a response from coinbase by email (is this there only method of communication)?

Also, in other threads, people were talking about scrambling up your bitcoins before depositing to coinbase... Is this no longer considered necessary?

Don't use email. Go to their community forum, post your question. Their CS will response within couple hours.

[raiders72001]

Anyone have a long wait getting a response from coinbase by email (is this there only method of communication)?

Also, in other threads, people were talking about scrambling up your bitcoins before depositing to coinbase... Is this no longer considered necessary?

It's a good idea to use another wallet as a middleman but they are booting less people now. You get an email prior to the banning.

[big joe 1212]

I finally got my CC verified. I opened a coinbase account and blockchain. Bought a small amount ($50) to get a feel for it. Once I figured it all out it became a very simple process.

Purchased coins through instant buy, sent the coins to blockchain, and then sent from blockchain to sportsbook. The total process took less than 2 minutes and the book loaded my account in about 20 minutes.

Love this bitcoin thing. So much better than P2P. Hassle free!

Hopefully my instant buy limits get raised quickly. After loading my ID they raised it to $200. Still pretty low, but hopefully they'll raise it quickly.

[LVHerbie]

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