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Bitcoin- Casinos... Updated 2024
- Thread starter vixen777
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Users who viewed this discussion (Total:0)
Luck3Sevens
Lifetime Streaker
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mooleyjones
Senior Streaker
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Re: Bitcoin- RTG
Bitcoin has many positive things to say for itself. For starters, it is good for online casinos as a whole, as they can be sure that if they receive a Bitcoin payment the funds have been
deposited legitimately. Bitcoin therefore reduces fraud-related costs for online casinos quite significantly. It’s good for the player too: Bitcoin allows players to have full control of their bankroll
as they are able to move their funds on and off the site on a daily basis and at will.
I think that eventually all major online casinos will offer deposits and withdrawals in Bitcoins because it increases security and reduces costs. One thing though is that all players must stick to reputable sites not to fall a victim to scams
hmy
Bitcoin has many positive things to say for itself. For starters, it is good for online casinos as a whole, as they can be sure that if they receive a Bitcoin payment the funds have been
deposited legitimately. Bitcoin therefore reduces fraud-related costs for online casinos quite significantly. It’s good for the player too: Bitcoin allows players to have full control of their bankroll
as they are able to move their funds on and off the site on a daily basis and at will.
I think that eventually all major online casinos will offer deposits and withdrawals in Bitcoins because it increases security and reduces costs. One thing though is that all players must stick to reputable sites not to fall a victim to scams
hmy
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- Feb 25, 2008
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- 70,753
cv5masterson
Newbie Streaker
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Re: Bitcoin- RTG
I have done so much research on bitcoin and when I first started I went with the first wallet I was introduced to. This was a few years ago. I then discovered what mining was and I had gained a lot perspective into how bitcoin became a actual currency that is accepted world wide. I got my degree in finance so bitcoin has been a fascination to me. I have come to realize that everyone has their hand in the cookie jar. you have companies like the one you described that charges for a card and still charges a percentage for processing. This company is winning no matter what. When the value goes down the percentage and fees make up the difference in the fluctuating valued and losing money. The percentage is often equivalent to the pocket change you throw into a jar so the convenience of bitcoin is always worth it to the consumer. For online casino payments the fees of bitcoin are always lower then the international transaction fees.
Casinos make a fortune off bitcoin payments because they are investors. They always sell higher then what the exchange was when they received payment for. Plus if casinos dont have your authorization forms on file that charge can be disputed and they will lose that dispute 100% of the time. The casinos will also be able to payout using the bitcoin wallet it was paid in thus cutting out the middle man and not needing the paperwork involved in sending a check or a wire transfer because the bitcoin wallet has already done the verification for them.
On these specific person to person exchange sites the individual selling the bitcoin is responsible for verifying your identity to make the exchange legal and the company hosting the exchange sites will always host your personal wallet but they are not required to verify because they do not sell the bitcoin. As a seller you have to provide your verification to the host site. The host site also receives the normal percentage for your purchase and they receive a percentage of the sellers total amount sold. Their are always consumers to buy at the higher rate who want the convenience and who do not educate themselves on the process. These host sites do very well to advertise themselves as a number 1 choice.
As gamblers we all should invest in bitcoin when the value is low based on historical values and the daily fluctuations in bitcoin and use what we normally would for our casino deposits but also selling the bitcoins you invested in that gives you the excess and sell them on the person to person exchange sites because on these sites where you also have your wallet individuals will always be able to sell at about 30 more cents on the USD dollar then then current value of the bitcoin exchange.
Consumers who are not versed in the art of the stock market cant buy and sell stocks on their own without heavy loses in value and trading fees just as a consumer who buys bitcoin will choose the higher cost of person to person exchange sites because of manipulation of advertising that makes the consumer have more trust in these sites over the hosting sites that maintain your wallet and sells you the bitcoin at the current exchange value and you still pay the same percentage for each exchange.
If allowed I will gladly give you names of person to person exchange hosting sites and the names of the sites host and sell.
I have done so much research on bitcoin and when I first started I went with the first wallet I was introduced to. This was a few years ago. I then discovered what mining was and I had gained a lot perspective into how bitcoin became a actual currency that is accepted world wide. I got my degree in finance so bitcoin has been a fascination to me. I have come to realize that everyone has their hand in the cookie jar. you have companies like the one you described that charges for a card and still charges a percentage for processing. This company is winning no matter what. When the value goes down the percentage and fees make up the difference in the fluctuating valued and losing money. The percentage is often equivalent to the pocket change you throw into a jar so the convenience of bitcoin is always worth it to the consumer. For online casino payments the fees of bitcoin are always lower then the international transaction fees.
Casinos make a fortune off bitcoin payments because they are investors. They always sell higher then what the exchange was when they received payment for. Plus if casinos dont have your authorization forms on file that charge can be disputed and they will lose that dispute 100% of the time. The casinos will also be able to payout using the bitcoin wallet it was paid in thus cutting out the middle man and not needing the paperwork involved in sending a check or a wire transfer because the bitcoin wallet has already done the verification for them.
On these specific person to person exchange sites the individual selling the bitcoin is responsible for verifying your identity to make the exchange legal and the company hosting the exchange sites will always host your personal wallet but they are not required to verify because they do not sell the bitcoin. As a seller you have to provide your verification to the host site. The host site also receives the normal percentage for your purchase and they receive a percentage of the sellers total amount sold. Their are always consumers to buy at the higher rate who want the convenience and who do not educate themselves on the process. These host sites do very well to advertise themselves as a number 1 choice.
As gamblers we all should invest in bitcoin when the value is low based on historical values and the daily fluctuations in bitcoin and use what we normally would for our casino deposits but also selling the bitcoins you invested in that gives you the excess and sell them on the person to person exchange sites because on these sites where you also have your wallet individuals will always be able to sell at about 30 more cents on the USD dollar then then current value of the bitcoin exchange.
Consumers who are not versed in the art of the stock market cant buy and sell stocks on their own without heavy loses in value and trading fees just as a consumer who buys bitcoin will choose the higher cost of person to person exchange sites because of manipulation of advertising that makes the consumer have more trust in these sites over the hosting sites that maintain your wallet and sells you the bitcoin at the current exchange value and you still pay the same percentage for each exchange.
If allowed I will gladly give you names of person to person exchange hosting sites and the names of the sites host and sell.
Last edited:
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- Joined
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Actually Bitcoin is NOT as confusing as I first thought! I also found this really cool wallet you can use and even buy bitcoins from Amazon!
https://paxful.com/buy-bitcoin/amazon-gift-card
https://paxful.com/buy-bitcoin/amazon-gift-card
I am using bitcoin to deposit and withdraw. I see that is quite useful being that I live in the U.S. Honestly, The block chain site is very easy to setup.
I also have The coin base site because it lets you link your bank or debit card to it. For instance, a FEW days ago I won at Uptown Aces I deposited with an Account now prepaid card. I cashed out via bitcoins into my Block chain account and then I opened a Coin base Account. Transferred my bitcoins from Block chain to Coin base. I then sold my bitcoins to coin base and clicked deposit to my bank acct that is linked to coin base, which will be available Tues, Nov. 15, 2016. So I will be using Coin base site for my deposits and withdrawals....
I also have The coin base site because it lets you link your bank or debit card to it. For instance, a FEW days ago I won at Uptown Aces I deposited with an Account now prepaid card. I cashed out via bitcoins into my Block chain account and then I opened a Coin base Account. Transferred my bitcoins from Block chain to Coin base. I then sold my bitcoins to coin base and clicked deposit to my bank acct that is linked to coin base, which will be available Tues, Nov. 15, 2016. So I will be using Coin base site for my deposits and withdrawals....
Luck3Sevens
Lifetime Streaker
- Joined
- Feb 25, 2008
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- 2,234
I am using bitcoin to deposit and withdraw. I see that is quite useful being that I live in the U.S. Honestly, The block chain site is very easy to setup.
I also have The coin base site because it lets you link your bank or debit card to it. For instance, a FEW days ago I won at Uptown Aces I deposited with an Account now prepaid card. I cashed out via bitcoins into my Block chain account and then I opened a Coin base Account. Transferred my bitcoins from Block chain to Coin base. I then sold my bitcoins to coin base and clicked deposit to my bank acct that is linked to coin base, which will be available Tues, Nov. 15, 2016. So I will be using Coin base site for my deposits and withdrawals....
- Joined
- Feb 25, 2008
- Messages
- 70,753
That all sounds pretty confusing to me.