First Bitcoin Transaction
jm
Senior Member
All
Thought I would share my experience with my first bitcoin transaction. Im a US Player.
I opened up accounts at circle.com and blockchain.info. Circle allows you to buy bitcoins via either credit card or ach from bank account. Some have reported that Credit Cards charge you a cash advance fee, so I went with bank account. It took around 3 days for them to debit my bank account and have the full amount deducted and the bitcoins to show up. The issue is that on Day 1 you purchase the bitcoins and lock in the fx rate so you have to deal with fluctuations in the market before you can send them to the betting site on Day 4ish.
I then transferred them to blockchain.info. I did NOT use circle because there are reports of them shutting down accounts when they go to gambling sites (poker or sports). The transfer to blockchain took maybe 10 minutes, then I sent them over to the sportsbetting site. That also took about 15 mins before it showed up in my account.
In hindsight, there are ways to protect the transfer from blockchain.info to betting site so circle couldnt trace the bitcoins and I will do that next time.
Overall, an easier process than moneygram or WU. I just need to find out how to not have to deal with market fluctuations or get a new wallet. Blockchain.info does not allow you to buy bitcoins, but they have fx partners that I may try. For some reason, circle will not allow to keep US dollars in your account, then buy the bitcoins when you want.
Hope this is helpful for any newbies.
Thought I would share my experience with my first bitcoin transaction. Im a US Player.
I opened up accounts at circle.com and blockchain.info. Circle allows you to buy bitcoins via either credit card or ach from bank account. Some have reported that Credit Cards charge you a cash advance fee, so I went with bank account. It took around 3 days for them to debit my bank account and have the full amount deducted and the bitcoins to show up. The issue is that on Day 1 you purchase the bitcoins and lock in the fx rate so you have to deal with fluctuations in the market before you can send them to the betting site on Day 4ish.
I then transferred them to blockchain.info. I did NOT use circle because there are reports of them shutting down accounts when they go to gambling sites (poker or sports). The transfer to blockchain took maybe 10 minutes, then I sent them over to the sportsbetting site. That also took about 15 mins before it showed up in my account.
In hindsight, there are ways to protect the transfer from blockchain.info to betting site so circle couldnt trace the bitcoins and I will do that next time.
Overall, an easier process than moneygram or WU. I just need to find out how to not have to deal with market fluctuations or get a new wallet. Blockchain.info does not allow you to buy bitcoins, but they have fx partners that I may try. For some reason, circle will not allow to keep US dollars in your account, then buy the bitcoins when you want.
Hope this is helpful for any newbies.
Comments
Book > to your wallet> to laundering service>to circle. Now just think for a moment what kind of people would use a bitcoin laundering service.
Drug dealers, credit card thieves, prostitution rings and all sorts of other criminal activities which far out weighs getting caught as a gambler.
So now instead of being labeled as a gambler you can very easily be labeled as a drug dealer and that's because when you send your BC to these laundering services they are mixing your coins among a pool of all sorts of criminals. Never use bitcoin as withdrawal option and this is the last time I will say this.
Been doing several a week for ~6months with no issues. Book > blockchain > coinbase.
They can very easily trace it if they wanted to, but I guess their main objective is to catch high tech criminals like drug dealers on the internet and credit thieves. Heritage now takes 4 days to process a bitcoin withdrawal, not that I ever used it, but it just makes me wonder if their using a laundering service which could mean more trouble for the receiver.
The 'tumblers' or 'laundering services' as you call them are there to do just that, tumble the coins and make sure it's not traceable where they came from. Whether it's drug, prostitution, murder-for-hire, .......you send your bitcoin in and law enforcement can't trace where it came from. Just saying this before you misinform fellow users. Use a good tumbler, have different wallets and your good to go.
Appreciate you posting this JM,
It won't take long before more will follow. I do recommend everybody to read as much as possible about how to best use bitcoin transfers. They're fast, they can be anonymous (if you want to), but you have to be very aware about the drawbacks too. Like the fluctuations in the Bitcoin price and possible hackers.
All in all it's plusses outweigh the minuses when you know how to use them correctly and to your advantage.
Even if they were to send you different coins, they are still most likely going to be attached to legally questionable transactions due to the very nature of this service. So instead of the block chain showing you received coins from someone who is a bookmaker it will now show that you received coins from someone who buys Heroin. Either way you still look like a law breaking person to them.
And that's a good thing when it comes to bitcoin. It's not 100% secure, but it certainly has it's advantages.
can't find the link now, but one of the targets of the NSA, a well known hacker, had his wifi-card removed and put a drill through his bluetooth chip, and he has proof that the NSA still managed to get into his laptop. 99% of the world doesn't know this, but if you think you're anonymous on the web, think again, because you're 100% WRONG! Mobile phones, tablets, laptops and computers, you're whole life is out there.
To be young and naive again...
I have no experience, but have read stories of those books going down pretty quick. I have no desire to send $ to a site that is at the mercy of a digital currency and its swings.
If bookmaker does it for free, everyone should.
Jm... was Dave able to help u out?
haven't used it there because of those fees, but yea bol always an adventure. dont know if you played there under past mgmt. that was even more fun. dude cussed me out and called me a syndicate when i knew almost nothing in like 2006.
back in 2006 or so i think, they were bestline sports. they bought bol url. did a huge ad campgain at sbr. i was just getting started as an ap. they had 2 options either reduced juice or some sick bonus with +700 3 team parlays which is 0 vig. THe bonus/paray deal was way better, esp since they banned sharp reduced juice players. Sent the max which was like 10k for 2500 bonus or something. Didn't get close to finishing rollover when they tried to toss me and steal the bonus ---- keep in mind I knew close to nothing then, was betting these stupid TD props they'd put up that were way off for anyone with a brain. Guy called me a syndicate. Most of my plays were like $250. Made an sbr thread, actually got results. They made me finish the rollover with no parlays/props. Lost a bunch of it, but still made out ok. THen account closed.
A few years back they had a new GM who promised to look into closed accounts, name was Alex I think, he reopened and been back in since. Think he's long gone. Not sure if the ownership now is BOS or what, but it was at some pt. Also had ties to some mob guys, one that burried all his cash in a pvc pipe in his yard in philly.
Anyway JM should of waited to make that deposit closer to football they offer 100% bonus with i think like a 8x rollover
lul, surprised they allow that to be found then or now. i was pretty n00b tough, should never have posted that.
That's a pisser... I just seen the person Alex you mentioned above..
Look like he made a lot of fixes