Neteller starts accepting Bitcoin Deposits

[Fastlane]

http://www.bitcoincasino.org/blog/ne...tcoin-deposits

[JackTenSuited]

It's showing up on my deposit page now, pretty cool.
Can't withdraw to your bitcoin wallet yet though

[Fastlane]

No ability to withdraw yet, but hopefully that option will be added in the near future. Will be very interesting to see how this develops as Optimal Payments, the owner of Neteller also is behind Ukash and has just agreed to buy Skrill. This could just be the beginning.

[Top Online Casinos]

I don't think I'll make use of it (any time soon) - How stable is Bitcoin? I'd hate to have lots of Bitcoins and then see one of those massive devaluations go on... For those that are happy with it it will be great.

[sweetbet]

Interesting! Neteller must see a good future for Bitcoins.

[baldidiot]

That's cool - are they holding it as bitcoins or converting to USD (or whatever currency you have)?

[Fastlane]

That's cool - are they holding it as bitcoins or converting to USD (or whatever currency you have)?

Bitcoins are converted into the currency in your account. Neteller uses Bitpay to make the transaction.

[universal4]

This could also draw more regulatory attention to Neteller.

For example, in the United States, some states have very strict rules associated with bitcoin transactions. In fact there were a few cases of people arrested in Florida in Feb of last year for transactions involving bitcoins.

As of Feb 2014, FinCen had on the books a law that makes it a Federal Crime for person to person sale of bitcoin.
http://www.fincen.gov/news_room/rp/r...-2014-R001.pdf

If Neteller is a FinCen member, they may not be subject tot his, but that clearly means the government will know about all transactions and every penny exchanged.

The FinCen guidelines do appear to make it fine to mine bitcoins, as well as exchange them for investment purposes, but it becomes more cloudy if not completely illegal when they are exchanged for goods.

It could be that Neteller may be a more safe way for folks to use bitcoins, but the anonymity aspect may be completely wiped out by such transactions, which may affect users who wish to use them for gaming anonymously.

Rick
Universal4

[wonderpunter]

I don't think they are accepting bitcoins for US acccounts "from what I have read" the US Neteller accounts are restricted for pretty much everything

[casinogratis77]

I'm so angry that I didt buy Bitcoins 4 years ago, when the price was around $0.4...

[DanHorvat]

Nice. Bring the scammers in.

[Winna_DJ]

On Neteller? are the rumors true? Is Skrill buying them out?

[baldidiot]

On Neteller? are the rumors true? Is Skrill buying them out?

Other way around, the owners of neteller have just agreed to buy skrill.

[Winna_DJ]

Other way around, the owners of neteller have just agreed to buy skrill.

Oh my bad, thank you baldidiot...what a massive E-Wallet!

[merlin]

I'm a fan of Neteller !

[platen44]

Considering only around Christmas they were meant to ban the use of BTC on Neteller - this is a huge turn around for the bitcoin industry. Have a small number of bitcoins and rather happy Neteller is on the wagon!

[Gamer]

Good!!!! I am very glad that BitCoin infrastructure is growing.
Have heard rumours that PayPal is also considering accepting BitCoins..
This is not any courtesy from them. BitCoin have already e-wallets available that offer debit cards.
With low transfer fees, BitCoin is natural competition for PayPal and Neteller. They have to implement this to stay alive long-term.

[universal4]

It is correct that Neteller has restricted the use of their services to US residents severely for YEARS, and since the largest function Neteller ever offered was payment methods in and out of online gambling, this makes the services rather, less than valuable for US residents.

I wonder if this will finally shatter the "so-called" anonymity aspects of Bitcoin (that in my opinion never existed anyway) as the financial services and money exchangers that are now starting to jump on the bitcoin wagon have in the past and currently DO share customer information, so in order to use their account services, they will make the connection with bitcoin accounts and personal information.

My guess is that they will be asked to share some of this information concerning bitcoin accounts, and in my opinion will likely be the cause of restricting such access to US residents.

I have always been under the opinion, that the anonymity with bitcoin never really existed, except that the exchanges HIDE this information, since they know who creates and maintains the wallet accounts, or the conversion to any type of fiat could never occur.

Who knows, this could be one of the catalysts that bitcoin needs to remove the dark side and allow it to grow as a payment method where it reduces the hiding or anonymity risks.

Rick
Universal4

I also find it ironic that within days of the announcements to accept bitcoin that there have been speculative reports that they have suffered DDOS attacks. (I do hope that customer's funds are safe)

[WagerPod]

Bitcoins is about as stable as a chocolate fire guard, personally how this currency is still going is beyond me. It's not like a bank, thousands of pounds could go missing over night.