whats the deal with bitcoins?

[raiders72001]

Sorry for so many questions. On some of the bitcoin only books they want all your info such as address if you take a bonus. Is there ever a problem with having a Usa physical address then using a VPN. Or does the book know you have a Usa physical address and won't even let you open an account? If this is the case it's beneficial to me to not take a bonus and have my account be pretty anonymous.

Don't worry about the questions. As I stated before, the reason for the forum is to share information.

If your address says that you live in the US, it's not a problem using a VPN for another country.

If the book bans players from the US and you give a US address, don't play there with a VPN. It's a recipe for disaster. They shouldn't even let you register.

If you are talking about Jetwin, you are fine. They just won't let you play in the live casino.

[Ra77er]

Thanks I'm going to go with easy hide today and just setup the subscription.

Sshcubbies good comments.

I am wondering if you can use bitcoins to fund an ewallet using a VPN or something of that nature.

Personally I am tracking the VPN importance, I am onboard with the e currency, how can I put this all together?

I may have to move to Costa Rica just to play where I want and to get my syndicate rolling with SbR Poison Ivy over a taco and water with a lemon.

Raider you need to come have dinner with me sometime and show me the ways. I can get us fresh steaks here in Texas and if you are vegan I have a can or two of vegetarian hotdogs, plus you have to have miller light because that's all I have right now.

[raiders72001]

Thanks I'm going to go with easy hide today and just setup the subscription.

Sshcubbies good comments.

I am wondering if you can use bitcoins to fund an ewallet using a VPN or something of that nature.

Personally I am tracking the VPN importance, I am onboard with the e currency, how can I put this all together?

I may have to move to Costa Rica just to play where I want and to get my syndicate rolling with SbR Poison Ivy over a taco and water with a lemon.

Raider you need to come have dinner with me sometime and show me the ways. I can get us fresh steaks here in Texas and if you are vegan I have a can or two of vegetarian hotdogs, plus you have to have miller light because that's all I have right now.

Forget the vegan stuff, the steaks sound great!

[shhhcago]

Raiders. Are there scenarios where these bitcoin books will ask for documents. I'm wondering if it's beneficial to me to just use a German identity and address at all these bitcoin books and use a VPN from Germany. I'm asking for your opinion on this. Nitrogen seems like the best bitcoin book out there yet they block usa. Maybe just give fake info to nitrogen and real on the other books. I'm just wondering how often nitrogen or other books will ask to prove identity.

[raiders72001]

Raiders. Are there scenarios where these bitcoin books will ask for documents. I'm wondering if it's beneficial to me to just use a German identity and address at all these bitcoin books and use a VPN from Germany. I'm asking for your opinion on this. Nitrogen seems like the best bitcoin book out there yet they block usa. Maybe just give fake info to nitrogen and real on the other books. I'm just wondering how often nitrogen or other books will ask to prove identity.

Nitrogen bans UK but not the US. They are anonymous only book. If you are in the UK, a VPN is fine.

All bitcoin only books are anonymous. Jetwin allows you to play in bitcoins as well as other currencies. They only require documentation for those asking for a bonus.

If you want a bonus with Jetwin and also want to play in their live casino, contact them. Tell them you are using an anonymous account for the live casino and a KYC account for the sportsbook bonus. They shouldn't have a problem with it but let them know up front.

[raiders72001]

No bitcoin only book will ask for identification. Remaining anonymous is one reason that I play at the bitcoin books.

There are brokers that will ask for identification.

[Texans365]

Bitcoin Books are great. They are truly global. They will advise you (directly or indirectly) how to bypass restrictions.

http://jetwin-access.com/en/

[swordsandtequila]

Jetwin bans US IPs in their live casino only.

Gotcha. Don't mess with the casino so no biggee. Have you heard anything regarding live betting @ Jetwin? That would be the cherry on top.

[raiders72001]

Gotcha. Don't mess with the casino so no biggee. Have you heard anything regarding live betting @ Jetwin? That would be the cherry on top.

Yes, I think it's coming up for the NFL.

[GipRock]

I think eventually more and more bitcoin places will phase out Americans

Bitcoin getting more legit daily and the currency is very stable and offshore gambling

good call JJ... more stable??? Phase out Americans??

It's not stable it just dropped $50/btc and why would books phase out Americans, it's the most anonymous way to deposit, safest way for them to take Americans.

[raiders72001]

The new software, called Bitcoin XT, has much less support than the original, but it's gaining traction quickly. It already accounts for 8.4 percent of computers running Bitcoin software, according to Bitcoin tracker XTnodes. The price of Bitcoin dipped slightly after Bitcoin XT's debut, perhaps reflecting concern that an alternative could hurt Bitcoin's value.Many Bitcoin supporters are opposed to an offshoot version for the same reasons that Linux and Android heads have voiced objections to similar projects in the past: They split the developer community, meaning fewer people are able to work on each version. Many forks also become incompatible with their predecessors. That could create unnecessary barriers for people with different currencies to exchange money.
Despite the fervor in the Bitcoin community, the odds are against Bitcoin XT.
"This is not the first attempt to create a better Bitcoin, but I believe Bitcoin has such critical mass of resources devoted to it that it is unlikely anybody would abandon it for an incremental improvement,"says Gil Luria, an analyst at Wedbush Securities. "None has gotten much traction."
If anything, some friendly competition could be good for Bitcoin. "Forking can serve as a catalyst for innovation while simultaneously promoting better quality software through natural selection," according to a 2013 research paper.

http://www.sltrib.com/home/2852097-1...dentity-crisis

[evo34]

A quick reminder as to why holding a significant balance in any BTC-only book is insane:

http://bitcoincharts.com/charts/bitfinexUSD#rg2zczsg2015-08-18zeg2015-08-20ztgCzm1g5zm2g25

[DonZ]

A quick reminder as to why holding a significant balance in any BTC-only book is insane:

http://bitcoincharts.com/charts/bitf...tgCzm1g5zm2g25

You can easily keep your balance in USD – many BTC books offer this option

[DonZ]

If you are talking about Jetwin, you are fine. They just won't let you play in the live casino.

Their live casino is awesome. I've spent countless days playing in different live casinos, but jetwin's lc - is mega cool. The only thing if you are in the US your have to use VPN.

[shhhcago]

Donz. Does jetwin know you are a Usa customer and just wants you to use a VPN for casino. Or do you hide the fact from them all the time that you are from the USA?

[DonZ]

Donz. Does jetwin know you are a Usa customer and just wants you to use a VPN for casino. Or do you hide the fact from them all the time that you are from the USA?

I haven't informed them. I just use anonymous account and access their site through VPN. I often connect to the book directly, without any VPN/Proxy.

[swordsandtequila]

If you don't take any bonuses you can open an anonymous account with Jetwin. If you take bonuses then you have to be verified.

[Ra77er]

Raider can you talk a little more about this bitcoin XT?

Is this an attempt at creating a completely new digital currency that is similar to bitcoin? Or is this just a better method of delivering bitcoins across the globe?

I cannot understand if it is just nerdy programmers here trying to be more efficient or are they trying to invalidate/compete agaisnt people that have bought bitcoins at say coinbase?

[FilletMaster]

Bitcoin price 8/19/14 $480

Bitcoin price 8/19/15 $234

Just dropped/crashed another 14% while I was asleep.

So I guess not only are you bitcoiners gambling on a game, you're also gambling on the value of Bitcoins

[swordsandtequila]

Bitcoin price 8/19/14 $480

Bitcoin price 8/19/15 $234

Just dropped/crashed another 14% while I was asleep.

So I guess not only are you bitcoiners gambling on a game, you're also gambling on the value of Bitcoins

Books like Jetwin, 5Dimes, Heritage, etc. convert to fiat once deposited, so you're betting with cash. Bitcoin is only used as a vehicle to take in/pay out.

[TheMoneyShot]

There's no advantage when BTC drops like a motha fukkka.


If this goes under $100 for each one... you guys better abandon ship. It's going to drop to a $1 one day.

[swordsandtequila]

Some of you guys just don't get it.

[raiders72001]

Raider can you talk a little more about this bitcoin XT?

Is this an attempt at creating a completely new digital currency that is similar to bitcoin? Or is this just a better method of delivering bitcoins across the globe?

I cannot understand if it is just nerdy programmers here trying to be more efficient or are they trying to invalidate/compete agaisnt people that have bought bitcoins at say coinbase?

Bitcoin XT is meant as an improvement to Bitcoin. It's redefining bitcoin. In order for this perceived improvement to take place the bitcoin community has to believe in this change. This includes miners, exchanges, wallets.

If a big percentage agree, then miners will quit producing bitcoins, but will produce bitcoins XT. Bitcoins will no longer have value and the new version will be the accepted coin.

[Ra77er]

SnT is right, you use it as a vehicle and only invest in it if you want too.

Raider thank you for that.

[FilletMaster]

Some of you guys just don't get it.

What am I missing? Let's just go back a month.. If I bought 10 bitcoins at their value just 1 Month ago $279, played with them at book for 30 days, say I broke even at book, decided to cash out today, sold my bitcoin at today's value of $234 .. I lost $450 just on the Bitcoin itself.

Even if I bought 10 just yesterday at $250 and cashed out next day, I lost $160 just on bitcoins.

Is this wrong or not how it works?

[raiders72001]

What am I missing? Let's just go back a month.. If I bought 10 bitcoins at their value just 1 Month ago $279, played with them at book for 30 days, say I broke even at book, decided to cash out today, sold my bitcoin at today's value of $234 .. I lost $450 just on the Bitcoin itself.

The conventional books are converting to cash. The bitcoin value is insignificant. A bitcoin book such as Jetwin also allows you to deposit bitcoins and convert to another currency.

[Ra77er]

In other words you would get more bitcoins back from the sportsbook that converted it for you in your scenario Fillet. So you buy 1 bitcoin for 200 and deposit that into say 5dimes and turn the 200 into 1000 and cash out...if bitcoins at that time OF cashing out have dropped to 100 per coin then you get 10 bitcoins back so the value remains legit and the same that you won at the sportsbook, you just have more bitcoins which are cheaper at that time.

Originally you would've only had 5 bitcoins in your wallet if you won the 1000 and the value of bitcoins stayed the same when you cashed out. If they go down like I said to only 100 a coin when you go to cash out then you receive 10 bitcoins that still equal 1000 bucks to your bank account if you so choose to cash in.

[FilletMaster]

The conventional books are converting to cash. The bitcoin value is insignificant. A bitcoin book such as Jetwin also allows you to deposit bitcoins and convert to another currency.

So your not withdrawing via Bitcoins? Because when it goes to whatever your coin bank is, you will have to sell right @whatever the current rate is? Then transfer to your bank account..?

[raiders72001]

One nice thing about just using bitcoin books is that you don't need a lot of bitcoins to play at many different books allowing you to shop around.

Keep BTC in your blockchain.info account, just deposit bitcoins to books as needed for betting. With most conventional books the money has to sit there for an extended time.

You can play at more bitcoin books at one time for the same money since BTC can be withdrawn at any time with the bitcoin books.

[FilletMaster]

In other words you would get more bitcoins back from the sportsbook that converted it for you in your scenario Fillet. So you buy 1 bitcoin for 200 and deposit that into say 5dimes and turn the 200 into 1000 and cash out...if bitcoins at that time OF cashing out have dropped to 100 per coin then you get 10 bitcoins back so the value remains legit and the same that you won at the sportsbook, you just have more bitcoins which are cheaper at that time.

So the book takes the hit on the bitcoin value? I'm lost lol. Somehow the value is irrelevant between all these transfers

[raiders72001]

So your not withdrawing via Bitcoins? Because when it goes to whatever your coin bank is, you will have to sell right @whatever the current rate is? Then transfer to your bank account..?

Almost all my play is going through the bitcoin books. If I win, then just convert to cash. Most of the time I go through localbitcoins or guys that I know.

[Ra77er]

You lose some fees in the transactions and you may lose or potientially gain tiny bit of value in between everything but you already get charged 50 bucks and upwards to deposit and withdraw using methods that we have been used too. Yea good books typically cover the deposit fees but you can only withdraw free once a month at most places and with bitcoin it's anytime you want basically for a smaller fee (from coinbase, some sportsbooks may charge a small fee for withdrawls using coins). I'm sure the avid coin users know how to do this with minimal fees as well.

It's nice being able to move your money around quickly, not worrying about being blacklisted or messing up a name, or hitting a nice casino run and waiting for the free withdrawl day to cash out and the mean time you lose it all etc etc.

[swordsandtequila]

So the book takes the hit on the bitcoin value? I'm lost lol. Somehow the value is irrelevant between all these transfers

First let me say my comment wasn't directed at you, but those that pop up in every bitcoin thread spouting the same nonsense when they have no clue what they're talking about. They know who they are. That said I'll try and simplify it for you.

For our purposes think of bitcoin as a mode of transport, not an investment. $100 worth of gold is just that, $100. Price per ounce doesn't matter. The books we're speaking of take your bitcoin deposit, convert to fiat (dollars, pounds, euros, whatever the book offers/you choose) based on the average price at whatever index they use (stated in their terms) and deposit into your account. At Jetwin this hits instantly, Heritage I've seen anywhere from 5 to 30 minutes. You're now gambling with cash, the same way you would if you deposited through "conventional" means. When you take a payout, the book converts to bitcoin at the average index price and sends to whatever address/wallet you use. If in the time between your initial deposit and subsequent payout bitcoin has dropped or gone up in value, so what? If it's doubled then you'll get half in bitcoin, if it's dropped in half you'll get double. $100 is still $100. The only fees involved are a small mining fee which is pennies. In a nutshell, your funds don't stay in bitcoin long enough to matter.

All from the comfort of your couch, in seconds, with no pickups/dropoffs, no aliases, no banning, no bad checks, no bullshit. For Americans it's a NO FUKING BRAINER.

[evo34]

You can easily keep your balance in USD – many BTC books offer this option

That's why I said "BTC-only book." By definition, a BTC-only book -- and most of them are -- do not allow users to have balances in anything but Bitcoin. Specifically, playing at a book like Nitrogen is asking to get destroyed by a BTC crash.

[muldoon]

=Specifically, playing at a book like Nitrogen is asking to get destroyed by a BTC crash.

Doesn't that apply to any currency that isn't your native one? People depositing in Euro's and seeing it dive against the US don't face the same thing?