A Gooners Guide to Bitcoin ..

[TheGooner]

DELETE - I will do this in the private section ...

[rouletteguru]

I have a friend that is doing well trading bitcoin. He is using various exchange sites. Even if you compare the selling rates on two different sites, you can easily find discrepancies where you get buy low and sell high prices, same as currency trading. But initially he was scammed a few times. There's nothing he can realistically do because nobody even knows where the scammer came from. Could be any country. He did report it to local police which did nothing. To prevent it happening again, he traded only with people who had longer history with good feedback. Anyway hope that helps someone.

[TheGooner]

No reflection on your post RouletteGuru ...
I just do not want the Guide indexed by search engines ... no point in being a target


And as a response to RGs post ... I will be doing exchanges at a full exchange - not dealing directly with a person.
So all balances SHOULD be guaranteed and confirmed and not open to scams.

But it will be interesting to see the delays involved ...

[rouletteguru]

oh bugger, and I thought I was being helpful. I feel so violated (kidding)

[VincentPerro]

I heard of a Chinese exchange market, where bitcoin can be purchased for pretty much any online currency from paypal, or webmoney, to dogecoins and stuff like that, anyone knows the name of it? Googling got me nothing, unfortunately.

[justbookies]

I heard of a Chinese exchange market, where bitcoin can be purchased for pretty much any online currency from paypal, or webmoney, to dogecoins and stuff like that, anyone knows the name of it? Googling got me nothing, unfortunately.

https://localbitcoins.com/

[canaryjohn]

There's still serious money to be made trading crypto if you know what your doing. With so many crypto coin value being so aggressively volatile and BTC being relatively stable there is lots of opportunity to make gains several times every day. (if you can be bothered with the tediousness of it)

[Sherlock]

The most bitcoins traded 95%+ for sure are traded in China. https://www.okcoin.cn/market.do
The Chinese guys have even decent USD <-> BTC liquidity.

But I can not confirm and I highly doubt there is some legal Paypal market. Ofc there are many markets like localbitcoins that support even Paypal, but it is a grey area, because it is obviously violating Paypal rules.

It is a good idea to handle this in private. The bottom line with cryptos is that situation will be changing and there are many ways how to get the money out now. Those ways will be restricted in future, but new ways will emerge.

[Sherlock]

Define "do people use it"?

FIY I do not know what to think about your 11 completely useless posts. No offense, but with those you are not gonna to learn anything. Maybe you should start to read other threads about Bitcoin if it is your interest. Othewise it does not make much sense to ask if bitcoin works, when the biggest US bookies pay us only with btc.

Poster who has 0 posts has zero credibility, but poster with XX useless posts has (at least for me) negative credibility.

[Kazino]

As a consequence of Chipsplit closure, I'm forced to use Bitcoin to withdraw earnings. Googling, I found some possibilities for Bitcoin Wallets:

1) Desktop Wallets (Electrum, Armory, Multibit, ...)

2) Web Wallets (Blockchain, Coinjar, Coinpunk, ...)

Please advise me, which Bitcoin Wallet is better to use?

P.S.
A lot of settings, advanced features are not important for me. More important is security and ease to use.

[Sherlock]

I did not try many wallets, but be advised that security and easy to use are 2 factors in contradiction.

Web wallets are always much less secure only because of the nature that you do not have the bitcoins, but someone else has your bitcoins (= takes care of your private keys). But web wallets are also much easier to use, because it is just some account, you do not have to install anything etc.

[justbookies]

Please advise me, which Bitcoin Wallet is better to use?
A lot of settings, advanced features are not important for me. More important is security and ease to use.

Electrum.

[Sherlock]

No, it is you who thinks, that posts give credibility to anyone. In fact, it is the content of the posts that matters. You came up with stupid question "Does Bitcoin really work?", when there are affiliate programs that pay only in btc?

So I will give you honest response this time: Bitcoin works very well Sir, but be careful, it does not work so well for mentally challenged individuals with IQ of cucumber.

Mods, feel free to delete this post and every my post below. I feel a flame coming

[Roulette Zeitung]

Does Bitcoin really work? As in, do people use it?

Yes, it works well for the criminal market.
You can pay with Bicoins for drugs, for weapons and for live killing shows in the Deep Web .. and only with Bitcoins.
Everyone can have access to the Deep Web with Tor in less than 10 minutes.
And if you think twice now, then imagine, from which origin a large part of Bitcoin deposits in online casinos are coming from ...
No problem to wash your Bitcoins clean within one hour online also in the Deep Web and make it untraceable.
It's the same story as with eGold.
At the end 99% were criminals who offered this payment method.
Read this professional study about Bitcoin users: http://www.yelowitz.com/Wilson_Yelowitz_Bitcoin.pdf
And no one can tell me, that online casino owners are not well informed about the fact, that a big portion of Bitcoin deposits are coming from criminal origin or are the result of money laundering.
But because of all these Silkroads and Red Rooms the governments will take actions against casinos and players sooner or later.
I am pretty sure, that at least in the USA a list of Bitcoin players exist and that they will be observed.
And this time it's a good job of the agencies because as long as people will be killed live in the internet for money and you can pay with Bitcoin to watch it at home, as long everyone should stop working with it, because this is no real currency. It's a backhole to create a perfect illegal world, made perfectly for criminals. The good thing: This are facts and no speculations.

Here you have evidence, that Bitcoins online casinos will be promoted together (!) with illegal Deep Web websites e.g. drugs ...

===> deepdotweb.com/2013/10/28/updated-llist-of-hidden-marketplaces-tor-i2p/

Any questions about this Bitcoin dirt?

You are promoting their casinos, and your daugther at the same time can purchase as easy as 1-2-3 with Bitcoin drugs over the internet?!
The online casinos want to take the illegal money that is on the air.
At any costs.
This is the sober truth.

Leopold

[universal4]

All off topic and personal attack type posts have been removed.

Rick
Universal4

[MMM]

Question, why do I need to send the bitcoins to my wallet then to exchange and then to bank. why can't I send it directly to exchange?

[Sherlock]

Most probably because it will be an address that is already used. Even if you are being paid by affiliate program that does not care if the addres was used already, it is just stupid to risk compromising your identity.

1. The btc exchanges do some due diligence and if something connected to gambling is not plain banned it is just tolerated (and only for now)
2. I can imagine that if you breach some rule at exchange, the exchanges might share the information about you some day in future

Just play it safe. Online and with bitcoins too. Bitcoin is not a bank account.

[MMM]

Sorry, but didn't understand what you mean (first day that I try to figure this thing out...)

If I understand correctly, the money flow is: affiliate program - wallet on my PC/MAC/MOBILE - Exchange - Bank account.

1. As far as i understand i can generate endless addresses both on my wallet and on exchange, so it should work for the Affprog?

2. Not related question: where blockchain.info (recommended by BP) fits in or is it an option instead of installed wallet? (Affprog - blockhain - exchange - bank).

Thanks a lot and sorry if the questions appear stupid.

p.s. Isn't my identity already vulnerable cause i am transferring funds to my bank account?

[Sherlock]

1. As far as i understand i can generate endless addresses both on my wallet and on exchange, so it should work for the Affprog?

Endless addresses can be generated only on your wallet. Policies of exchanges vary. Yes, the bigger exchanges have such features (to generate the addresses). Either way I do not recommend it and I would go at least with one address in the middle, even if you can generate the addresses. Imagine that someone will mark/compromise the bettingpartners account as gambling. Imagine the future political pressure on exchanges. Imagine that everything is written in blockchain forever. So if the both ends are known, then without middle-address it is a direct transaction from gambling to your identity. If you add one or more addresses you are preparing your position for future, where you can say: well the first payment from bettingpartners went to affiliate site, but not to me. The affiliate site paid me for traffic/hosting/consultation. It is not a bulletproof explanation, but it is at least something.

2. Not related question: where blockchain.info (recommended by BP) fits in or is it an option instead of installed wallet? (Affprog - blockhain - exchange - bank).

Yes it is fine as long as you do not verify your identity there. Maybe be careful with emails on file. Gmail etc is not safe (not because of hacks, but because of big brother).

The questions are not stupid, I just see this clearly in my head, but your questions finally helped me to understand, why everyone is asking about the same question about address(es) in the middle over and over again.

p.s. Isn't my identity already vulnerable cause i am transferring funds to my bank account?

As clarified above. Your identity is vulnerable, but nobody can even proove that Bp send you any money. We should rather consider the possibility that Bp bitcoin addresses will be compromised, tracked and analysed.

People who are really paranoid and play it hard in the US should consider blenders/mixers.

[MMM]

Thanks a lot Sherlock. To make sure: what you mean by address in the middle is that it doesn't go straight from BP - Exchange - My bank.
So if I send BP- installed wallet - exchange - bank, my wallet is the address in the middle?