BitCoins

So I decided I would open up my own thread about Bit Coins in general.

Let me start off saying that Bit Coins probably won't be for everyone.  Mainly because the price of bit coins goes up and down varying on supply and demand.  The more bit coins there are for sale the less the value is.  The more scarce bit coins become the more the worth.

For example when I started officially buying and selling Bit Coin.  The price was well over $700.00 a coin.  Then when I started using it for online casinos it was at about the $390ish range.  Now it's bouncing back and forth between $190 to about $300.

Now most online casinos let you play in a micro bit coin.  Which is 0.001 bit coin (or BTC for short).  So get a full bit coin you'd have to win 1,000 mBTC (micro bit coin).  So for example, I bought in lately for $100.00.  Which allowed me to receive 0.32 BTC or 320 mBTC.

I've found online wallets like Coinbase and Circle to be a bit more intrusive into my personal life for my taste.  Don't get me wrong the cash outs are fairly fast compared to some other online casinos.  Ranging from 2 to 5 business days.

Yet I like my winnings in cold hard cash.  Which Local Bit Coin provides me.  They have several options ranging from allowing you to get your winnings via a cash deposit into your bank account, a load to your bluebird card, a western union, if you can find a cash method.  It's probably on there.

Now of course because all of the sellers on there are 3rd party sellers.  You are best looking a persons feedback and score to determine whether you can trust them or not.

Now of course if trading with random people around the world isn't your thing.  There are several other options besides those US based options I had mentioned.

Honestly after all of the hoops I had to jump through to get a deposit to happen, and then all of the hoops to cash out.  I kid you not a 8 hour from deposit to cash out to cash in hand.  Is a very nice change of pace.

If you have any questions or wish to make your own observation feel free.  I figured a Bit Coin thread would open up some hopeful discussion about how great this option is for those who are willing to brave it.

thanx for your informative post cheetahwind

some additional info can be found here : https://jswqzs.com/banking/Bitcoin-casinos.html

Buying and selling?  I haven't heard of such a thing but then again I only just heard the term Bitcoin.

I will check it out.

I tried to buy bitcoins from Coin.mx by using my bank card, but my bank needed me to verify my card again i guess. I saw you posted Circle and coinbase are intrusive, so what is the easiest, best wallet to use? Also, are there any casinos that can be downloaded 

I guess Circle and Coinbase are only doing there job per US patriot act standards, but when you open an account with them.  That they need to verify who you are, but that sort of takes the fun away from using an anonymous currency in my opinion.
Plus I just hate having my bank account linked to anything that isn't quite stable yet.  Sure Bit Coin is coming around, but it still has a ways to go.
Circle will take you Visa card, the limits I have seen vary from person to person.  My limit is $500, others I have seen is $100.

I like coin.mx. They want a pic of you holding the cc/debit card and your photo id. Circle is good, but $100/week maximum. Coinbase is a pain as far as how long it takes for you to recieve your funds.. I linked my bank account, but it says 2-4 days to get the money into Bitcoin. No thanks. Good post cheetahwind.

Let me jump in for a min... Add a VISA credit card to your Coinbase along with a checking our saving account. And after your first successful deposit. Your future deposits are automatic at $100 a week. 30 days after your initial successful deposit. Your limit is increased to $1000 a week auto... Circle allows instant deposit as well. But a debit/credit card needs to be on file

Each companies requires you to register your full information and verify your identity. Once this is done and verified you are all set. Of course you have to make some successful deposit. But once that is done. You are all good. I use both circle and coinbase without any problems...

The process is basically the same as setting up a paypal account...

Chocolateman, I tried adding my visa debit card and it said only cc.. It wouldn't let me link it. Which is pretty lame considering it's the same account that's linked to my bank.

        Hey guys,  I haven't used Coinbase but I have been using Circle.com  for the last few months,  never had any problem with them.     
          Mer3801,  were you trying to link at Coinbase or Circle?    I have a checking acct. and credit card at Circle.  Never had any issues. 

Circle will take your regular bank card and allow you to tie an account that will allow you to do ACHs to it.  Otherwise prepaid cards are a no go.  Otherwise Coinbase hasn't gotten setup for anything but a "credit card", in other words the bank has to have established a credit line for you in order for you to use it at Coinbase.

            I'm kinda' surprised Coinbase hasn't varied their options  a little more than that,    I've  pretty much given up on the whole debit card thing these days,  too many roadblocks and bullshit to put up with.  Just use my checking debit  and credit card these days.  Less hassle.

Bitcoin is the wave of the future... More and More retail stores are taking them. There are even bitcoin ATMs. Learn to use bitcoins and do away with these prepaid cards and their silly fees...

Apply for a Visa Credit Card or ask a family member or friend. If they mind if you link it to an account. The card won't be used as long as your bank account is in good standing. CC will only be used as a back up. It makes sense for Coinbase to ask for a CC. Because if your bank account has no funds. Then they feel your debit card maybe the same...

I got it all sorted with circle. Linked my bank account which I apparebtly hadn't done yet. I'll just deal with them for deposits. :-)

Congrats, use them to cashout with as well. You will see how easy it is and kiss your CC online gambling deposits goodbye

How long is the withdrawal transfer to bank account? Tbh, I haven't played anything other than bitcoins for the last month or so now.

I receive my withdrawals from Circle or Coinbase the very next day if its done before 4 pm EST. If not it will be the day after...

          I haven't used Circle yet to put money in to my bank acct.,  but I have used it to put money back on my MC  credit card.  It took  like a day,  maybe a day and a half tops.  Never seen anything that fast for US.  Was very pleasantly surprised.

CHEETAHWIND,I WAS SURPRISED TO READ ABOUT BITCOINS.YOU WHILE BACK I WAS ON THE WEB AND I RAN INTO A SITE ON BITCOINS ,WHICH THEY HAD A FEW CASINO SITES AND I WOULDN'T MISS IT W/TRYIN.NOW I DIDN'TKNOW  WHAT TO USE THESE BITCOINS FOR AFTERWARDS BUT IF I FIND THE WEBSITE WHERE WOULD I CASHOUT TO??MAYB' TO MY EMAIL ??            THANK YOU FOR KICKIN OFF THE BITCOINS SUBJECT AND I AM GOIN TO LOOK INTO IT IN A FEW .    ONCE AGAIN THANK YOU          BLU