1. #36
    mrpapageorgio
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    Quote Originally Posted by TheMoneyShot View Post
    Bitpay is valuable for many reasons. Especially if you don't want winnings entering your bnk acct. I've used Bitpay for several months now. I was just trying to find a better way than going from Blockchain wallet... to Bitpay... and paying that fee all the time. You can go Gemini to Bitpay... and they'll cover the fee... but I didn't want to use them all the time. Just in case they review my acct for some odd reason and close it down. I try to only do 1-2 transactions a month with Gemini. I don't want to give them any reason to audit my acct.

    The thing with Bitpay... you must send them the exact Bitcoin amount requested... you can't miss high... you can't miss low.
    I should clarify that "I" don't deal with Bitpay since I wouldn't use it enough to justify having it. However, I'm not discouraging anyone from not using it if they have a use for it.


    However, I think if Square Cash fully rolls out the option to cash out/buy Bitcoin (which is in testing phase now) and can use their debit card, it's going to be a game changer; especially for Bitpay users since they'll have another option. The feature I've seen so far with Square Cash in the testing phase is you can hold the bitcoin with them and decide to sell some or all of it, then just use the proceeds on the debit card you can get from them.

  2. #37
    mrpapageorgio
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    Quote Originally Posted by Optional View Post
    Don't tell people to do this.

    It's important to send the exact amount of bitcoin Bitpay specify for automated crediting. 5mike5 just spent over 2 weeks trying to sort it out when he did the wrong thing.

    You cant be sure down to the last digit what Nitro might send.
    First to clarify: My earlier post shouldn't be taken as advice. I was answering TMS's question as to how Peterjohnson could get the withdrawal amount right every time and I was explaining it could happen if it was strictly limited to the circumstance of withdrawing from Nitrogen (hence, "I'm guessing").

    With that said, I still think people should withdraw to an intermediate wallet then send to Bitpay and eat that fee to prevent a hiccup.


    However, didn't 5mike5 request the payout from 5Dimes in his situation? Difference is you don't know what exchange rate 5Dimes is going to use when you request a USD withdrawal from them and they send the funds in Bitcoin according to their exchange rate at the time they send it. Nitro, you're dealing solely in Bitcoin so if you need to send Bitpay .12345 bitcoin you can withdraw that exact amount of bitcoin from Nitro if you have it in your account. I've never had them send a different amount than what I asked for as long as it's within 5 decimal points (they said to me in an email when I had an amount beyond that their program can only go that far so try to keep it within 5 decimal points). If that has now changed and they're starting to charge a fee for withdrawals which is changing the final number, I stand corrected.
    Last edited by mrpapageorgio; 11-23-17 at 09:00 AM.

  3. #38
    TheMoneyShot
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    Quote Originally Posted by mrpapageorgio View Post
    I should clarify that "I" don't deal with Bitpay since I wouldn't use it enough to justify having it. However, I'm not discouraging anyone from not using it if they have a use for it.


    However, I think if Square Cash fully rolls out the option to cash out/buy Bitcoin (which is in testing phase now) and can use their debit card, it's going to be a game changer; especially for Bitpay users since they'll have another option. The feature I've seen so far with Square Cash in the testing phase is you can hold the bitcoin with them and decide to sell some or all of it, then just use the proceeds on the debit card you can get from them.
    You definitely should look into a deb card that you can load using Bitcoin. It's such a huge convenience. I'm not saying your trace is 100% covered... it's just less obvious then always sending cash to your bnk acct and then withdrawing it on record 24/7. The less times you show money entering and exiting your bnk acct... the better off you'll be in my opinion.

    A buddy of mine was telling me that in one month he had more bnking transactions in regards to Bitcoin than regular common transactions in 1 month. I said what are you doing man? You don't want to do that.

  4. #39
    TheMoneyShot
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    Even if Bitpay decided to send paperwork in regards to your acct to the IRS.... they would only do this if....

    you had 200 or more transactions in 1 year on your card

    and/or 20k in revenue deposited.

    But remember... this is for "business/commercial" accts only.... but even if they did send an individual acct on record.... you would need over 200 transactions... and/or 20k deposited on that crd.

    Might be smart having a few different crds open... from different bnks... that allow Bitcoin deposits.

  5. #40
    mets119218
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    Easiest way to bitpay is have the blockchain app on your phone. When you send create the amount on bitpay allow it to open in blockchain that way it puts the exact amount in for you with no calculation.
    Heritage is best in business. I have never won anything in their contests though but have been in no worse then 3rd so far in their 25000 free bet and currently tied for 1st with 4 weeks to go so can’t complane

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