Betting Talk

First Bitcoin Transaction

jmjm Senior Member
edited July 2017 in Sports Betting
All –

Thought I would share my experience with my first bitcoin transaction. I’m 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 couldn’t 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.
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Comments

  • Chisox6Chisox6 Senior Member
    edited March 2015
    very helpful, thanks.
  • duritodurito Senior Member
    edited March 2015
    Not sure about circle, but at coinbase only your first transfer takes a few days. After that you can buy instantly, so you can move immediatly to the book and not have to worry about fluctuations. The goal here imo is to have your money in bitcoin for the least amount of time possible.
  • underwrapsunderwraps Senior Member
    edited March 2015
    In hindsight, there are ways to “protect” the transfer from blockchain.info to betting site so circle couldn’t trace the bitcoins and I will do that next time.
    I would guess "Shared send" is what you mean. If any of you are thinking of using a bitcoin laundering service for withdrawals , don't do it and here is my reason why.
    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.
  • duritodurito Senior Member
    edited March 2015
    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.
  • underwrapsunderwraps Senior Member
    edited March 2015
    durito wrote: »
    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.
  • duritodurito Senior Member
    edited March 2015
    I know it can be traced. But how do they know it's a sportsbook. The coin address doesnt say Heritage Sportsbok. Books can get unlimited wallets. The bitcoin books can you give you new address to send for each transaction if you want.
  • underwrapsunderwraps Senior Member
    edited March 2015
    I personally never seen the address's their sending from, but I have heard in the past they end with Xx or XX and that's how coinbase was able to detect them and close those customer accounts. I'm sure the books got smarter and created different wallets in different locations around the globe to send money out from. I'm just not comfortable accepting bitcoin as a form of payment from the books just yet. I'm glad its working out for you and if I don't hear any further horror stories in the future maybe I will give it a try.
  • Obi OneObi One Senior Member
    edited March 2015
    Wraps,

    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.
  • underwrapsunderwraps Senior Member
    edited March 2015
    Obi, you are 100 % wrong they can still trace it.

    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.
  • Obi OneObi One Senior Member
    edited March 2015
    The good tumblers/mixers will give you untraceable coins. Those that have good algorithms to tumble. If you send your coins to a mixer that gives you a fixed transaction of 70% after 2 hrs, 25% after 3 and the final 5% after 4 hours, off course LE can trace your coins. But if the tumbler disperses different percentages each and every single time, till you get to 100%, there's no way LE traces that.
  • underwrapsunderwraps Senior Member
    edited March 2015
    Obi, you could be right, but I'm still skeptical, because like Ron said in another thread these fuckers have enough tools at their disposal to be capable of uncovering anything.
  • Obi OneObi One Senior Member
    edited March 2015
    underwraps wrote: »
    but I'm still skeptical,

    And that's a good thing when it comes to bitcoin. It's not 100% secure, but it certainly has it's advantages.
    underwraps wrote: »
    because like Ron said in another thread these fuckers have enough tools at their disposal to be capable of uncovering anything.

    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.
  • cpech56cpech56 Senior Member
    edited March 2015
    This seems shady. Almost as shady as the time on spring break when I gave $60 to a fuckin bum to get me a bag of weed. He came back with something in a kleenex and said dont open it until you get into your hotel room. Open it up and its grass he picked from the hotel courtyard.


    To be young and naive again...
  • milfhuntermilfhunter Senior Member
    edited April 2015
    Anybody use books that only take bitcoin? Just wondering what the experience has been like?
  • jmjm Senior Member
    edited April 2015
    milfhunter wrote: »
    Anybody use books that only take bitcoin? Just wondering what the experience has been like?

    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.
  • jmjm Senior Member
    edited June 2015
    So I just sent $2,044 to BetOnline via bitcoin and they only credited my account $1,870. They said due to high bitcoin transaction fees that they feel the customer should burden some of the cost. Has anyone ever heard of that?
  • duritodurito Senior Member
    edited June 2015
    No they are raping people, I'd not use it there. There should be close to 0 transaction fees.

    If bookmaker does it for free, everyone should.
  • underwrapsunderwraps Senior Member
    edited June 2015
    Tweet dave he will help you with that
  • jmjm Senior Member
    edited June 2015
    can you help me out with his twitter handle? --> Nevermind, i used this thing called 'google' to figure it out.
  • underwrapsunderwraps Senior Member
    edited June 2015
    I must say that is a robbery. This might be the only book I'm aware of that started doing this. they also do it on cash outs. check please thanks
  • underwrapsunderwraps Senior Member
    edited July 2015
    jm wrote: »
    can you help me out with his twitter handle? --> Nevermind, i used this thing called 'google' to figure it out.

    Jm... was Dave able to help u out?
  • duritodurito Senior Member
    edited July 2015
    It's their standard fee, do they refund it if you bitch or what? I
  • underwrapsunderwraps Senior Member
    edited July 2015
    Yeah, not so much bitch, but u have to be aggressive.. u cant talk like a lollipop u know what I mean
  • duritodurito Senior Member
    edited July 2015
    underwraps wrote: »
    Yeah, not so much bitch, but u have to be aggressive.. u cant talk like a lollipop u know what I mean

    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.
  • underwrapsunderwraps Senior Member
    edited July 2015
    I wasn't playing at bol when the old management was there. This new management is all messed up to. A few months ago I convinced the guy in chat that there was a glitch on my OverNite limits so he bumped me back up to 500.. lasted about 7 days and they cut me back to 250 LOL then they call my house and said if I do that again they will ban my account..LOL
  • duritodurito Senior Member
    edited July 2015
    oh this is at least 2nd new mgmt since then. they have no idea what they are doing with limits, or anything really. thank god for that.

    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.
  • underwrapsunderwraps Senior Member
    edited July 2015
    Wow crazy story +700 on 3 team parlays that's insane, they deserved to get busted up offering that.
    Anyway JM should of waited to make that deposit closer to football they offer 100% bonus with i think like a 8x rollover
  • duritodurito Senior Member
    edited July 2015
    http://www.sportsbookreview.com/forum/sportsbooks-industry/143805-betonline-scam.html

    lul, surprised they allow that to be found then or now. i was pretty n00b tough, should never have posted that.
  • underwrapsunderwraps Senior Member
    edited July 2015
    I
    believe I am around 82% of the way through their non-industry standard rollover -- I'm not sure exactly, I'm not very good at "Panamanian Math". That would be about 93% of a normal 8x rollover.

    That's a pisser...
    they still count in Panamanian even now.
    I just seen the person Alex you mentioned above..
    This thread is over a year old. You're at the NEW BetOnline. New policies, management and, unfortunately for now, new software. We've fixed EVERY issue in this thread--an WILL fix the damn software as well.

    Alex

    Look like he made a lot of fixes
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