Bitcoin ?

PENNYWISE · Jul 7, 2016

Hey Brothers...

Got a question

What the heck is BITCOINS... From time to time, I will use an off shore and the one I use has been fantastic for about 15 years..

But they are going to BITCOINS?

It looks like a wallet of some sort....Ok... AM I JUST STUPID ? Is this common place..hahahahahahaha

I was just curious what you crazies thought about it..hahahahahha

Thanks guys
PEACE
PENNYWISE

SuperSport · Jul 7, 2016

Been using BTC for a couple years now. The main problem is the fluctuation in price. Places like Nitrogen keep it in BTC, so you lose or make money by doing nothing sometimes, other books turn it into $$$ right away. It is QUICK and EASY. That is the main thing. Big transactions can be done extremely fast with low to no cost. As well as being sent all over the world. All you need is an offline wallet with a wallet address and youre cookin!!

ChugsMcGee · Jul 7, 2016

The universal online currency of the future!!! Or what the Strawman pays his bill with. Depends on whether you're a glass half full or half empty kind of guy. Haralabob believes in its value so I feel I have to give it some credence.

TrickyGator · Jul 7, 2016

Im forcing myself to read this thread at some point this weekend because i have no idea what they are either

http://www.therxforum.com/showthread.php?t=1026472&

ChugsMcGee · Jul 7, 2016

Nice avatar!

PENNYWISE · Jul 7, 2016

Very helpful and insightful...much appreciated !!

BOL TODAY !!

PEACE
PENNYWISE

Incubus · Jul 7, 2016

PENNYWISE, here's their website.
Perhaps they have sufficient information for you there. w-thumbs!^

https://bitcoin.org/en/

PENNYWISE · Jul 7, 2016

Thank you guys... so basically you set up an account at say CIRCLE.com.... Where you can buy bitcoins to then fund your book.... when withdrawing, you have the book transfer your bit coins back to say CIRCLE and then you withdraw from there ?? It that how it works ???

SuperSport · Jul 7, 2016

PENNYWISE said:
Thank you guys... so basically you set up an account at say CIRCLE.com.... Where you can buy bitcoins to then fund your book.... when withdrawing, you have the book transfer your bit coins back to say CIRCLE and then you withdraw from there ?? It that how it works ???

Pretty much. I would always send it to the wallet you have on your computer first before sending it anywhere.

1) Buy BTC off Circle.com
2) Transfer to your wallet (check out Electrum)
3) Send to book
4) Win some DANG MONEY
5) Transfer to your wallet
6) Sell on Circle.com or LocalBitcoins.com
7) MONEY

ChugsMcGee · Jul 7, 2016

PENNYWISE said:
Thank you guys... so basically you set up an account at say CIRCLE.com.... Where you can buy bitcoins to then fund your book.... when withdrawing, you have the book transfer your bit coins back to say CIRCLE and then you withdraw from there ?? It that how it works ???

Basically...but keep in mind as Super stated...the value of the Bitcoin is not constant. I believe it should be treated more as a holding than simply as cash transfer substitute. I wouldn't jump in with both feet right away. (I am far from an expert however.)

PENNYWISE · Jul 7, 2016

i completely understand... Thank you !

KingEleven · Jul 7, 2016

I have owned BC for a couple years, but have never used it for a sportsbook

Fadetheplays · Jul 7, 2016

Penny I will send you a pm

dpblu00 · Jul 7, 2016

I think I read somewhere that bitcoin cash outs are reported to the government after a certain amount.

scottnvegas · Jul 7, 2016

Hey Penny, I have been using bitcoin now for about a year. Another place to buy and sell bitcoin is coinbase. Coinbase—also operating as Global Digital Asset Exchange since May 2016—is a Bitcoin and other digital asset exchange company headquartered in San Francisco, California. I agree with Chugs, it is the online currency of the future.

capattack · Jul 7, 2016

Been using BTC for a few months now and I must say I like the speed of transactions. The only caveat I am finding is once you sell BTC for USD you must use a bank wire to actually yield your money into your bank account. Seems like this is one flaw in the Anonymity category.

My process:
1) Cash out winnings in Bitcoin to Bitfinex Exchange (free)
2) Sell BTC for USD (free)
3) Wire USD to bank ($35 fee)

All in all, debatable if it is more preferred than a withdrawal via Check. Recommendations appreciated if there are better ways

Cheers

PENNYWISE · Jul 7, 2016

Thank you very much fellows !!!

KingEleven · Jul 7, 2016

dpblu00 said:
I think I read somewhere that bitcoin cash outs are reported to the government after a certain amount.

incorrect.

boss415 · Jul 7, 2016

T Mader who is on vacation said to tell you all that the guys running bit coin are shady and to stay way away from bit coin.

NFLParlazy · Jul 7, 2016

Pennywise, I made this website for advice on gambling with bitcoin:

http://bitcoinhustle.com/

My email is on there, send me a message if you have questions.

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