Bitcoin as the ONLY payment option, lol what?

[hublot]

My transaction is still unconfirmed. I read somewhere that I might have to close down my client for a few days as it might be rebroadcasting the transaction which is stopping mempools from dropping it. Is that true? I have Bitcoin Core as my client. I realise now that it's overkill but didn't at the time.

Your transaction is showing as confirmed now... in the future I would advise paying a slightly higher fee so that your transaction gets priority...

[Sherlock]

I suggest editing/deleting the transaction now for obvious reasons.

[UncleSam]

Just wanted to add that with Coinbase - I sold my BTC on Wednesday at around 3PM and funds showed up in my account on Friday AM. I have no complaints about that

[JohnCash1234]

I think it is false. Many poker rooms fit real money, play money and cryptocurrency poker projects. So the bitcoins are not the only available payment method in online poker.

[TheGooner]

I think it is false. Many poker rooms fit real money, play money and cryptocurrency poker projects. So the bitcoins are not the only available payment method in online poker.

Next time actually READ THE THREAD - don't guess what it is about from the heading ...

[aphextwig]

If they take this stance, will loads of others follow suit too?

[justbookies]

If they take this stance, will loads of others follow suit too?

Yes. Bookmaker.eu has already copied them.

[lolTRICKEDu]

Allright, so I setup an account at Coinbase and tried to test sending money (0.01BTC) to my wallet there from some bitcoins I had over at Nitrogensports. Went through no problem. However, I didn't go through the step of sending it to blockchain first as recommend ITT. Do I risk having the account shut down now? What do they usually do when I get banned, do they send the BTC I hold there back to where it came from, take it for themselves or allow me to atleast move it before my account is shut down? Just want to know what kind of risk I am taking by keeping it at this account.

[Sherlock]

The risk is very low, but not worth of it. Even if you are banner they will not steal or seize your assets. But the risk is that your identity will be compromised for future as problematic. We can see that banks (incl. ewallets) must comply with KYC. I think it is just a matter of time, when those KYCs will be shared between financial institutions. So the ban just at Coinbase would not be a problem. But I think overall it is a problem in digital era to be anywhere marked as moneylaunderer. And that is exactly what you do: you launder the dirty money from gambling. If things turn ugly nobody will listen to your arguments, that you are just some affiliate or whatsoever.

The risk is very low but adds up with every transaction. Like when you are driving a car dangerously: the risk is very low, but if you keep up doing that, the accident will probably occur once in your life and it will possible affect you a lot.

It is incredible that you do exactly what I advised not to do and then you ask.

[lolTRICKEDu]

I didn't learn about the process here, so was not aware that not sending it through blockchain was a problem.

So I guess I'll just not use Coinbase and rather try something like Kraken instead then.

[MMM]

So I guess I'll just not use Coinbase and rather try something like Kraken instead then.

Check if Kraken suites your currency needs first.

Sherlock, you referred few times to money laundering, but wanted to ask - if i send funds to my business account (tax paying one) - I am not laundering any money. It might be ''dirty'' money as you said (for that using installed wallet before sending to exchange) but on my end, there is no laundering at all. I think

[Sherlock]

I didn't learn about the process here, so was not aware that not sending it through blockchain was a problem.

So I guess I'll just not use Coinbase and rather try something like Kraken instead then.

It does not matter if Kraken or Coinbase (although, what from I read, Coinbase is stricter atm). The problem is if you did a direct transaction Nitrogensports -> Coinbase. Instead rather do Nitrogensports -> any brand new address -> Coinbase.

[lolTRICKEDu]

It does not matter if Kraken or Coinbase (although, what from I read, Coinbase is stricter atm). The problem is if you did a direct transaction Nitrogensports -> Coinbase. Instead rather do Nitrogensports -> any brand new address -> Coinbase.

Yes, I understand the problem here and that I should do it the latter way (I have now opened an account at blockchain.info), but as you mentioned my account at Coinbase is now probably compromised and therefore I should probably use another exchange when converting my coins to USD. I haven't used Kraken yet and thus it should be considered "clean" no?

[Sherlock]

Check if Kraken suites your currency needs first.

Sherlock, you referred few times to money laundering, but wanted to ask - if i send funds to my business account (tax paying one) - I am not laundering any money. It might be ''dirty'' money as you said (for that using installed wallet before sending to exchange) but on my end, there is no laundering at all. I think

Moneylaundering is not a tax evasion at all. On the contrary: Many money laundering techniques rather include paying the taxes than evading them. I remember 90s, when the drug mafias, when they had the millions and billions, rented luxury restaurants, where nobody went in. They faked huge turnover and income. They paid taxes from that income. They launder the money this way.

It is quite new expression now that US government started to say that tax evasion is a money laundering. Only because money laundering is such a cool term that jounalists love. But you simply have dirty US gambling money and you launder them through Bitcoin. That is what it is. You are on the same level as 5dimes, who were already accused of moneylaundering, because they have the same gambling money from US.

[Sherlock]

Yes, I understand the problem here and that I should do it the latter way (I have now opened an account at blockchain.info), but as you mentioned my account at Coinbase is now probably compromised and therefore I should probably use another exchange when converting my coins to USD. I haven't used Kraken yet and thus it should be considered "clean" no?

If the account at Coinbase were compromised, then the account is locked and your identity is too and you can do nothing about that.
But since you can use Coinbase (I guess), everything is ok. The tiny risk went through. Just do not do the direct transfer from bookies to coinbase. Put there at least one address in the middle. As time will go, gamblers will have to use mixers I guess. Also I think Nitrogen allows to generate a new address. Then for sure use that feature as frequently as possible. It is the rule of thumb with bitcoin: generate a new address when possible. So even at blockchain.info always generate a new address.

Here I am sorry for everything I said about blockchain.info. I thought there is just one address under the account, but even at blockchain.info anybody can generate a new addreses. So get used to that option.

[lolTRICKEDu]

Yeah, it seems that Coinbase won't seize your funds even if they close your account (as you and others have mentioned ITT), so I might as well use it for now until it might not work anymore.

And as others have said before me, thanks for your help in this thread Sherlock, really appreciated!

[Zinav]

definitely annoying to have it as a single option.

[justbookies]

This may be of interest to UK affiliates, Kraken may be good for other things but I have run into problems regarding GBP. They use a company called paycash to do GBP transfers out and paycash seem to be ultra tight on getting 'source of funds' documents. I got the first 4-figure payment out fine but a 5-figure payment had to be cancelled as kraken said paycash, who held the payment, would want a forensic history of source of funds with multiple documents. Kraken seem to be frustrated by paycash themselves. Possibly as a result, or maybe for other reasons too, Kraken's GBP exchange is very weak with very low volume and a complete waste of time. Kraken suggest that things are a lot better all round, including withdrawals, if using euros.

[hublot]

This may be of interest to UK affiliates, Kraken may be good for other things but I have run into problems regarding GBP. They use a company called paycash to do GBP transfers out and paycash seem to be ultra tight on getting 'source of funds' documents. I got the first 4-figure payment out fine but a 5-figure payment had to be cancelled as kraken said paycash, who held the payment, would want a forensic history of source of funds with multiple documents. Kraken seem to be frustrated by paycash themselves. Possibly as a result, or maybe for other reasons too, Kraken's GBP exchange is very weak with very low volume and a complete waste of time. Kraken suggest that things are a lot better all round, including withdrawals, if using euros.

I would look at www.cubits.com, they are gambling friendly as many of the bitcoin operators use them as their exchange/payment provider.

They cater to the following countries:
Austria, Belgium, Bosnia Herzegovina, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom.

[Sherlock]

Is there some experience with them? The problem is not with microtransactions (up to 4 figures). Problem is (btc) transactions in 5 and more figures. I think in Europe banks and moneprocesors have 2 limits. 15K EUR (that is something in the law) and then ~250K EUR. Those limits trigger some deeper checks from the banks and I am always trying to stay under them.

The cubits claim something that is not sufficient here:WE ARE EUROPE’S #1 BITCOIN SERVICE: 250K EUR/month growth
The 250k is nothing as monthly growth.

I am afraid only the biggest exchanges (avg. daily turnover volume in mid 4 figures of bitcoins) should be able to handle 5 figures EUR payouts. Kraken's core market is EUR and EUR payouts go without middlemen. So for Kraken I would stick with EUR payouts and then GBP forex conversion.

• 250.000 EUR