Bitcoin Webinar Part 2: How to Buy & Use Bitcoin

**KVB** · 02-01-16, 09:39 PM

These have sparked great discussion and awareness.

Good Job.

**jjgold** · 02-01-16, 10:18 PM

There is very good info in this video

good to bookmark link

**JAKEPEAVY21** · 02-01-16, 10:28 PM

thanks guys

**Russian Rocket** · 02-01-16, 10:30 PM

Excellent segment

**The Giant** · 02-01-16, 10:30 PM

Great video.

I've never used Coinbase, so obviously didn't realize they had their own wallets. Are those something that can be used when transferring to books? Or is it better to get a separate one?

**raiders72001** · 02-01-16, 10:53 PM

Originally posted by The Giant

Great video.

I've never used Coinbase, so obviously didn't realize they had their own wallets. Are those something that can be used when transferring to books? Or is it better to get a separate one?

I posted this in Part 1.

It's best to go through an intermediate wallet. Coinbase knows your personal information. They have an algorithm that determines suspected gambling sites. All transactions leave a trail, unless you go through a mixer. When Coinbase sees transactions going right to a suspected gambling site, they are going to ban you.

If you go through blockchain.info, Coinbase has no idea who owns that wallet at blockchain.info. If the blockchain.info keeps depositing to gambling sites, Coinbase can suspect it's you, but they don't know for sure.

If you are using an intermediate wallet, the worst that they now do is send you an email asking who you do transactions with. As long as you reply to Coinbase with something other than illegal purposes, they won't ban you.

Don't give an exact name if they ask you. Just a general answer works and they will leave you alone.

**FlipsideRM** · 02-02-16, 10:38 AM

My bank has posted my deposit to circle yesterday but no funds in my actual circle account yet. This process has been disastrous. Fuk bitcoin

**Russian Rocket** · 02-02-16, 10:48 AM

Originally posted by FlipsideRM

My bank has posted my deposit to circle yesterday but no funds in my actual circle account yet. This process has been disastrous. Fuk bitcoin

Didn't you read that it takes between 2-5 biz days for funds to arrive at your BTC wallet when you deposit with a bank transfer?
It doesn't matter if your bank posted - funds needs to clear before you can start using them.

**FlipsideRM** · 02-02-16, 10:54 AM

Originally posted by Russian Rocket

Didn't you read that it takes between 2-5 biz days for funds to arrive at your BTC wallet when you deposit with a bank transfer?
It doesn't matter if your bank posted - funds needs to clear before you can start using them.

Yes but I made he mistake of doing it on a Friday at 330am, so it feels like forever having my $ tied up since the weekend days didn't even count. And I assumed if funds were taken from my bank they'd be posted to circle soon...I was told it might not be until Thursday.. Fuk this shit

**JAKEPEAVY21** · 02-02-16, 11:10 AM

Originally posted by FlipsideRM

Yes but I made he mistake of doing it on a Friday at 330am, so it feels like forever having my $ tied up since the weekend days didn't even count. And I assumed if funds were taken from my bank they'd be posted to circle soon...I was told it might not be until Thursday.. Fuk this shit

helps to read directions kid

**FlipsideRM** · 02-02-16, 11:16 AM

Originally posted by JAKEPEAVY21

helps to read directions kid

They wouldn't take my debit card. Regardless 1-4 days is what I "read", I was hoping for the sooner rather than the later kid

**jjgold** · 02-02-16, 12:11 PM

Lock this video for 1 year on top

**Duckshit** · 02-02-16, 01:00 PM

Excellent information. Here's flipper, poisoning another great thread...lol

**daveydips** · 02-02-16, 05:10 PM

I got sick of watiing up to a week for funds to clear from my bank, so i started using localbitcoins... i just search for people who offer m oneygram transactions... I do the m oneygram, and i have bitcoin in my account in about 2-3 hours... its pretty much the same exact process as making a m oneygram deposit on a sportsbook

**FlipsideRM** · 02-02-16, 05:25 PM

Originally posted by daveydips

I got sick of watiing up to a week for funds to clear from my bank, so i started using localbitcoins... i just search for people who offer m oneygram transactions... I do the m oneygram, and i have bitcoin in my account in about 2-3 hours... its pretty much the same exact process as making a m oneygram deposit on a sportsbook

Yep, never doing this again. So tilting having your bank already take funds out of account 24 hours ago and I'm still waiting with no idea when it's gonna hit circle account.

**JAKEPEAVY21** · 02-02-16, 05:28 PM

Originally posted by FlipsideRM

They wouldn't take my debit card. Regardless 1-4 days is what I "read", I was hoping for the sooner rather than the later kid

it is almost always business days pal

go outside and get some sun...sad to see a young kid that's such a shut in and online 24/7

**KonaZonie** · 02-02-16, 09:56 PM

Decided to take the plunge and sign up at Coinbase. I have no experience with bitcoins but it really looks like the best way to move forward with online books. Time to teach the old dog a new trick! For those who are curious, here was the process:

1. Fill out name and email address.
2. Confirmation email will be sent. You just click on the button in the email.
3. Attach a bank account. This was very easy because I already used this particular account online. On Coinbase, there is a pre-populated list of banks to choose from. Mine was on the list, all I had to do was click on the bank's icon and submit my online bank's username and password. That's it.
4. From there I am ready to make a bitcoin purchase with that account. My initial limit says $2500 per day.
5. I clicked on the "Verify Account" button and it asks a few control questions. Not sure this is mandatory.
6. On the Buy Bitcoins page, it has a ticker that shows the date your Bitcoins will be available, if you were to purchase at that time.

That's it. Now I have to get a third party wallet and hopefully the future video will show me how to make withdrawals!

**big joe 1212** · 02-02-16, 10:33 PM

You can get $200 instant buy limits at Coinbase if you do a couple of verification steps. After you buy 2k worth of Bitcoin, they raise your instant buy limits to $1,000.

Instant buy means that you don't have to wait 3-5 days to get your Bitcoins. They are ready to send instantly.

**raiders72001** · 02-02-16, 10:37 PM

Originally posted by KonaZonie

Decided to take the plunge and sign up at Coinbase. I have no experience with bitcoins but it really looks like the best way to move forward with online books. Time to teach the old dog a new trick! For those who are curious, here was the process:

1. Fill out name and email address.
2. Confirmation email will be sent. You just click on the button in the email.
3. Attach a bank account. This was very easy because I already used this particular account online. On Coinbase, there is a pre-populated list of banks to choose from. Mine was on the list, all I had to do was click on the bank's icon and submit my online bank's username and password. That's it.
4. From there I am ready to make a bitcoin purchase with that account. My initial limit says $2500 per day.
5. I clicked on the "Verify Account" button and it asks a few control questions. Not sure this is mandatory.
6. On the Buy Bitcoins page, it has a ticker that shows the date your Bitcoins will be available, if you were to purchase at that time.

That's it. Now I have to get a third party wallet and hopefully the future video will show me how to make withdrawals!

Tough part is over.

Transfer to book: Coinbase > Wallet > Sportsbook
Cashout: Sportsbook > Wallet > Coinbase > Bank

**gauchojake** · 02-02-16, 11:50 PM

Great info. Can you please stop linking me back to the bitcoin betting forum? I'm kind of a Players Talk guy. TIA

**unluckysob** · 02-03-16, 04:49 AM

Originally posted by FlipsideRM

Yep, never doing this again. So tilting having your bank already take funds out of account 24 hours ago and I'm still waiting with no idea when it's gonna hit circle account.

Patience---business owners often wait 30 to 90 days to get paid.

**FlipsideRM** · 02-03-16, 09:16 AM

Originally posted by unluckysob

Patience---business owners often wait 30 to 90 days to get paid.

still waiting, nothing today. I'm not waiting to get "paid", I'm waiting to "add initial funds". I'm not sure if it's just circle, but fully expect to wait the 4 business days with them.

**FlipsideRM** · 02-03-16, 09:23 AM

Not too mention the funds were taken out of my bank account on Monday morning, today is Wednesday. Talk about a cash advance, I should be charging them 5% a day.

**ThaWoj** · 02-03-16, 09:32 AM

Originally posted by FlipsideRM

Not too mention the funds were taken out of my bank account on Monday morning, today is Wednesday. Talk about a cash advance, I should be charging them 5% a day.

Same thing happened to me. I added funds on a Friday, posted to bank on Monday, no money on circle until Thursday. Have a prepaid debit card, said they couldn't use that. I only use coinbase now. $100 instant buy limit for now hopefully goes up soon. Also circle was a PITA if u had more than 2 attempts to add a funding method you would have to contact support to unlock your attempts and add one additional attempt, sometimes this would take 24 hrs. I do use circle for cashing out tho because their conversion rate is higher than coinbases

**FlipsideRM** · 02-03-16, 09:35 AM

Originally posted by ThaWoj

Same thing happened to me. I added funds on a Friday, posted to bank on Monday, no money on circle until Thursday. Have a prepaid debit card, said they couldn't use that. I only use coinbase now. $100 instant buy limit for now hopefully goes up soon. Also circle was a PITA if u had more than 2 attempts to add a funding method you would have to contact support to unlock your attempts and add one additional attempt, sometimes this would take 24 hrs. I do use circle for cashing out tho because their conversion rate is higher than coinbases

Haha same exact situation. I wish I woulda known, oh well. Guess I'll go with coin base from now on. Did it hit Thursday morning in your circle account or when?

**ThaWoj** · 02-03-16, 09:51 AM

Honestly I don't remember but I think it was morning, not like 2am morning tho iirc. Lol I remember getting pissed off in one of the emails to Rep 'xander' threatening to cash my deposit out as soon as it hit and xfer it to coinbase...like it was going to get me my money faster Lol. I was pissed tho. BTW my deposit was for 400...good luck in your plays once it hits

**KVB** · 02-03-16, 03:10 PM

Originally posted by ThaWoj

...Have a prepaid debit card, said they couldn't use that...

Interesting fact.

Questions for the thread...

Can you use a prepaid card to purchase bitcoin?

Can you use the bank account information related a prepaid card as the associated bank account?

If there is a pre-populated list of banks, can you use one that is not on that list?

Originally posted by KonaZonie

...all I had to do was click on the bank's icon and submit my online bank's username and password. That's it...

You gave Coinbase your online banking password? Did I read that right?

**ThaWoj** · 02-03-16, 03:53 PM

I have a paycard from my job that is a M@$ter Card debit card that also has a routing and account number that I can use as a checking account. The card is called skylight which is in the ******** family.

This is what circle said I couldn't use but could do an echeckkkk with.

**ThaWoj** · 02-03-16, 03:53 PM

N.e.tspend

**Russian Rocket** · 02-03-16, 04:00 PM

A bank account debit card is linked to your checking account... a prepaid debit card is not (that increases the possibility of fraud). You pay in advance to load funds onto a prepaid card...and if you try to do an from your acct, that is associated with your prepaid card, it will get rejected.

So No, you cannot use the prepaid bank acct # to buy coins.

Doing an e check is different, than an . With an e check you're basically paying a bill.

**ThaWoj** · 02-03-16, 04:45 PM

No I can do *************** transfers in and out. It even shows up as *************** on the statement. As I said my card has routing and account numbers that can pay bills and receive money (not just dd's recurring or govt benefits). It uses federal B OF I

anyways idc, just sharing my experience

**Russian Rocket** · 02-03-16, 04:49 PM

Originally posted by ThaWoj

No I can do *************** transfers in and out. It even shows up as *************** on the statement. As I said my card has routing and account numbers that can pay bills and receive money (not just dd's recurring or govt benefits). It uses federal B OF I

anyways idc, just sharing my experience

yeah your paycard is different Net spend card, than a generic prepaid Net spend card that you can get from a store.

**FlipsideRM** · 02-03-16, 04:51 PM

Moral of my story. You are going to wait the full 4 days using circle for A..c..h deposits to them. Use coinbase for deposits instead. Still no money and added Friday morning. I'm out enjoy your bitcoins

**KVB** · 02-03-16, 05:52 PM

Originally posted by Russian Rocket

A bank account debit card is linked to your checking account... a prepaid debit card is not (that increases the possibility of fraud). You pay in advance to load funds onto a prepaid card...and if you try to do an from your acct, that is associated with your prepaid card, it will get rejected.

So No, you cannot use the prepaid bank acct # to buy coins.

Doing an e check is different, than an . With an e check you're basically paying a bill.

This is not true. Many pre paid debit cards have checking accounts with clearing house numbers associated to them and those transfers can be done on both deposits and withdrawals.

It is no different than any regular checking account.

If so, this should be fine for bitcoin purposes. I would think.