Bitcoin Q & A thread

[MadJack]

Strictly from an investment standpoint and not having anything to do with buying bitcoin for sportsbook use, what is the simplest and safest way to invest in bitcoin? Is it traded like a currency?

No clue, I'm not even looking into Bitcoin for that reason.

 

[MadJack]

I've heard the phrase 'bitcoin mining' used...what does that mean?

There's plenty of info out there but I'm not taking the time to learn anything other than using bitcoin as a transfer vehicle for depositing and withdrawal money from sports books.

I found this video but I still don't think it helps. It confuses me, but I'm not that sharp anyway.

Besides the video here's more.
https://www.google.com/search?q=bit...ng&aqs=chrome..69i57&sourceid=chrome&ie=UTF-8



<iframe width="560" height="315" src="https://www.youtube.com/embed/GmOzih6I1zs" frameborder="0" allowfullscreen></iframe>

 

[MadJack]

This is pretty simple stuff.

I went to www.circle.com and opened a Bitcoin Exchange account. All you do for starters is enter your email and create a password. They send a confirmation email to the email you used to open the account. Get the email, click the link to verify and you have a Bitcoin exchange account.

Then you sign in and I added my cell phone for security and they texted me a code to punch in to verify my phone. Done deal.

Then you go to settings and hook your account to your bank and/or your debit card. Here's where I ran into a little problem. I have never used my debit card and it was rejected. When I called my bank to find out the problem, they told me if it hasn't been used in over a year, or ever used, they cancel it. Now I have to wait 5-7 days to get a new one. Otherwise I was ready to instantly buy bitcoin.

I added my bank account info and they will make 2 small deposits into that account in the next 2 days so when I have those figures I can sign into my account to verify the deposits and then my bank account will be linked.

I'm going to use the debit card because you get your bitcoins instantly without waiting 3-4 days. You can use a credit card too but have to wait 3-4 days with that option as well.

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The next thing I did was go to www.blockchain.info to open a wallet. Go there, click on 'wallet' then create a blockchain wallet. You'll also get en email from them so that you can verify your account. After your account is created go to the security center and they lead you through that process to make sure your account it secured. I guarantee that you will feel like that is the most secure account you have ever opened. No way will somebody be able to hack your account. No fucking way.

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I'll be back after I get my new debit card and make a video of me buying bitcoins, transferring them to my wallet, then sending to a sportsbook for a deposit. Buying, transferring to wallet, and then transferring to the sportsbook will take a minute or two, tops. This is a very simple process once you are setup and it only took me maybe 20 minutes to set both accounts up.

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Some of you will feel comfortable doing it now without any more instructions but if you want to see how the whole process works first, wait for my video. In the meantime it won't hurt opening your Circle and Blockchain accounts. It's free and secure and you'll start getting a feel for it. I wish I had looked into this 2 years ago. This is just as good as Neteller and the way of the future when dealing with sportsbooks.

I'm pumped!

If you give it a try, use GT Bets in the right column. Once you have an account there, go to deposit options or the cashier to get the address to send the bitcoin deposit. You can do everything right online in a matter of minutes.

Deposits were made and bank account verified. :0074

Still waiting for my new debit card to buy and deposit bitcoin into a sports book account.

I requested a bitcoin withdrawal from one of my accounts and am waiting to hear back. Not sure they do bitcoin withdrawals. If they do, I'll make my first bitcoin transaction and show you how it works.

 

[Dead Money]

Deposits were made and bank account verified. :0074

Still waiting for my new debit card to buy and deposit bitcoin into a sports book account.

I requested a bitcoin withdrawal from one of my accounts and am waiting to hear back. Not sure they do bitcoin withdrawals. If they do, I'll make my first bitcoin transaction and show you how it works.

Bitcoin hits 750 this morning.....http://www.coindesk.com/price/

You bought some a couple days ago, sounds like you made money...?:shrug:

 

[MadJack]

Bitcoin hits 750 this morning.....http://www.coindesk.com/price/

You bought some a couple days ago, sounds like you made money...?:shrug:

I didn't withdrawal yet but when I do I will only be owning the bitcoins for a very short time. Probably minutes. I guess I would have the option to leave them in bitcoin instead of USD and I might do that in the future but I want to show everybody how it works and what fees may be after getting it back to my bank.

If anybody is going to be using offshore books for football or anything else, you should just go ahead and open the circle.com and blockchain.info accounts and get them ready to roll. This is too easy.

If you're sending money you get an address to send to and if you're receiving money you give them your address to send to. Blockchain generates that address for you.

There is nothing complicated about this at all and it's fast. Much better than WU, bank wire, credit cards, or anything else I have ever used besides Neteller.

 

[maverick2112]

I didn't withdrawal yet but when I do I will only be owning the bitcoins for a very short time. Probably minutes. I guess I would have the option to leave them in bitcoin instead of USD and I might do that in the future but I want to show everybody how it works and what fees may be after getting it back to my bank.

If anybody is going to be using offshore books for football or anything else, you should just go ahead and open the circle.com and blockchain.info accounts and get them ready to roll. This is too easy.

If you're sending money you get an address to send to and if you're receiving money you give them your address to send to. Blockchain generates that address for you.

There is nothing complicated about this at all and it's fast. Much better than WU, bank wire, credit cards, or anything else I have ever used besides Neteller.

So I opened my circle.com account

Thanks for walking me thru this

I was confused at first.

 

[MadJack]

So I opened my circle.com account
now where it says send money...........enter an email address......?????

this is where I get confused.......

You have money in there to send?

Use blockchain for your wallet.

You use an address that is generated by your blockchain account. Send from circle to the blockchain address they assign to you.

Then send from blockchain to the address the sports book gives you to send to.

It just sounds complicated but it's not and once you do it a few times it's nothing.




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[maverick2112]

You have money in there to send?



So to make it simple.......circle turns your $$$ into bitcoins........then you send the bitcoins to blockchain........then you send the bitcoins to the book thru blockchain.......

is this correct

 

[MadJack]

You have money in there to send?



So to make it simple.......circle turns your $$$ into bitcoins........then you send the bitcoins to blockchain........then you send the bitcoins to the book thru blockchain.......

is this correct

Exactly. It's so simple that people think it's complicated.

Circle does have a wallet but don't use it because they will know you are sending to a sports book and will ban you. If you use blockchain they will never know.

 

[maverick2112]

Exactly. It's so simple that people think it's complicated.

Circle does have a wallet but don't use it because they will know you are sending to a sports book and will ban you. If you use blockchain they will never know.

Ok So I set up both accounts and linked my debit card to the circle acct........then I go to send money but it just goes to the same page

I am assuming there is a time period allowed for them to make sure it is really my debit card......

Is this correct

I am trying to just add $50 from my debit to my circle acct

 

[MadJack]

Ok So I set up both accounts and linked my debit card to the circle acct........then I go to send money but it just goes to the same page

I am assuming there is a time period allowed for them to make sure it is really my debit card......

Is this correct

I am trying to just add $50 from my debit to my circle acct

Add Money from the front page. I still am waiting for my new debit card so I don't know the answer to your question.

https://support.circle.com/hc/en-us/articles/207788136-Sending-Money-Directly-From-Your-Debit-Card

Plus from your settings (top right) then click Cards and Banks and add your debit card.

https://www.circle.com/settings/linked-accounts

 

[RichD]

Well i signed up with Coinbase on June 6.

It has been a slow go since then.

As of today i have have managed to get 3 bit coin buys of $25 twice and $50 yesterday.

So i have spent $100 and they are sitting in my wallet worth, $112 right now. So that`s good.

I wont go thru all the waiting and stuff i have done.

I just need opinions on my this question i have. So here it goes.

I`m trying to link my bank account .I have been just using debit card buys. With real small limits .

So, they said they will make a small deposit to my account .Like Jack, says above .Cool i have done this before.

So, i get home today and see the small deposit and small withdrawl, $1.00 each way.

I then go to coin base and click the verify bank account .


" Please enter the two amounts (in cents) "
" For example, enter ten cents as "10" .

But i have a $1.00 ?:shrug:

So i put " 00" ....wrong.... Then well maybe $1.00 = "100" cents ....WRONG !

Well damn, so i left out the little quotation things on the next 2 tries ....wrong

Used to many tries , now i have to wait 24 hrs .

What have i done wrong?

 

[MadJack]

Well i signed up with Coinbase on June 6.

It has been a slow go since then.

As of today i have have managed to get 3 bit coin buys of $25 twice and $50 yesterday.

So i have spent $100 and they are sitting in my wallet worth, $112 right now. So thats good.

I wont go thru all the waiting and stuff i have done.

I just need opinions on my this question i have. So here it goes.

So im trying to link my bank account .I have been just using debit card buys.

So they said they will make a small deposit to my account .Like Jack says above .Cool i have done this before.

So i get home today and see the small deposit and small withdrawl, $1.00 each way.

I then go to coin base and click the very bank account .


" Please enter the two amounts (in cents) "
" For example, enter ten cents as "10" .

But i have a $1.00 ?:shrug:

So i put " 00" ....wrong.... Then well maybe $1.00 = "100" cents ....WRONG !

Well damn so i left out the little quotation things on the next 2 tries ....wrong

Used to many tries , now i have to wait 24 hrs .

What have i done wrong?

They don't make any withdrawal, they can't unless you initiated a withdrawal. They make 2 deposits and you have to verify 2 deposits. Both of mine were less than $1.

 

[maverick2112]

Everytime I link a debit card it says "suspended"x27:

 

[MadJack]

Everytime I link a debit card it says "suspended"x27:

I'll find out Monday, I guess. I got my pin number today so expect the card to follow right behind. Something missing but I'll find out.

 

[MadJack]

Okay got my debit card.
From your circle home page click top right and hit settings.

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[MadJack]

From the next page click cards and banks and add your debit card info. It confirms almost immediately.

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[MadJack]

Then click account and ADD MONEY.

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[MadJack]

Since this is my very first deposit they have to do security checks and since it's Saturday I have no idea how long that will take. A message did say usually sooner than 2 hours. After that it will be instant.

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[MadJack]

Once it clears I'll make a SB deposit. Forget the video, I am not taking the time to learn how to edit. xstop