Yesterday I received a payout for $1,000. I took a screenshot of various exchange prices at the exact moment I received the payout and it was about $50 short at best, and $70 short at worst. That's a 5% withdrawal fee!
Right now the price of bitcoin is $15,530 at GDAX but only $14,815 at bitstamp. Plus it's fluctuating fast. This is the perfect opportunity for books and/or the BTC processors they use to skim an extra 1 or 2 (or 5!) % off the top.
In order to avoid such accusations, and in order to avoid players getting cheated, processors should be including the moment they took the price, and from what exchange. With transparency, there will be no problems.
BTC has been a godsend for players and the books alike, but the if the books start cheating 5% on deposits and withdrawals then we may as well just go back to using banks.
No excuses for the books to be so bad at this. On the exchanges, depositing and withdrawing BTC is fast and easy and it's totally clear what rate you're getting and why. Books could learn a thing or two here.
Right now the price of bitcoin is $15,530 at GDAX but only $14,815 at bitstamp. Plus it's fluctuating fast. This is the perfect opportunity for books and/or the BTC processors they use to skim an extra 1 or 2 (or 5!) % off the top.
In order to avoid such accusations, and in order to avoid players getting cheated, processors should be including the moment they took the price, and from what exchange. With transparency, there will be no problems.
BTC has been a godsend for players and the books alike, but the if the books start cheating 5% on deposits and withdrawals then we may as well just go back to using banks.
No excuses for the books to be so bad at this. On the exchanges, depositing and withdrawing BTC is fast and easy and it's totally clear what rate you're getting and why. Books could learn a thing or two here.
