Kid at Riviera Posted December 20, 2014 Report Share Posted December 20, 2014 Where can I buy it? And how safe are bitcoin sportsbooks? Quote Link to comment Share on other sites More sharing options...
zzmocashzz Posted December 20, 2014 Report Share Posted December 20, 2014 lotta info out there http://bitcoinpricelive.com/bitcoin-price-chart/#/ Quote Link to comment Share on other sites More sharing options...
mikeman Posted December 20, 2014 Report Share Posted December 20, 2014 It's basically a pretend currency, created out of thin air by some guy. the way it works is that people can "mine" them by solving some math puzzle, if they solve it they are awarded a bit coin. That's it, that's the whole bit coin story, but the rest of the story is that now some people are pretending that they have value, a lot of value. Another part of the story is that they exist only as imaginary numbers in cyberspace, you have a fake number of a fake bitcoin. Created out of nothing and they could disappear just as easily, tread carefully. As long as there are enough people out there playing along with the fairytale they have value, if and when people stop pretending...poof. Quote Link to comment Share on other sites More sharing options...
Texastoughguy Posted December 20, 2014 Report Share Posted December 20, 2014 It's basically a pretend currency, created out of thin air by some guy. the way it works is that people can "mine" them by solving some math puzzle, if they solve it they are awarded a bit coin. That's it, that's the whole bit coin story, but the rest of the story is that now some people are pretending that they have value, a lot of value. Another part of the story is that they exist only as imaginary numbers in cyberspace, you have a fake number of a fake bitcoin. Created out of nothing and they could disappear just as easily, tread carefully. As long as there are enough people out there playing along with the fairytale they have value, if and when people stop pretending...poof. yup couldn't agree more. they are a disaster waiting to happen imo Quote Link to comment Share on other sites More sharing options...
Dire Straits Posted December 21, 2014 Report Share Posted December 21, 2014 Betting with bitcoins has been great so far. Instant deposits and withdrawls. Zero fraud. Bitcoin was very unpredictable early on but it seems to be in cruise control at the moment. Quote Link to comment Share on other sites More sharing options...
rito Posted December 22, 2014 Report Share Posted December 22, 2014 It's basically a pretend currency, created out of thin air by some guy. the way it works is that people can "mine" them by solving some math puzzle, if they solve it they are awarded a bit coin. That's it, that's the whole bit coin story, but the rest of the story is that now some people are pretending that they have value, a lot of value. Another part of the story is that they exist only as imaginary numbers in cyberspace, you have a fake number of a fake bitcoin. Created out of nothing and they could disappear just as easily, tread carefully. As long as there are enough people out there playing along with the fairytale they have value, if and when people stop pretending...poof. You can say the same thing about any currency. Quote Link to comment Share on other sites More sharing options...
batemanpatrickl Posted December 22, 2014 Report Share Posted December 22, 2014 You can say the same thing about any currency. Spot on. Well said. Quote Link to comment Share on other sites More sharing options...
rito Posted December 22, 2014 Report Share Posted December 22, 2014 The one difference is there will be a finite amount of bitcoins created, as opposed to fiat currencies where governments can print (and devalue) as much as they want of their's. Quote Link to comment Share on other sites More sharing options...
Kid at Riviera Posted December 22, 2014 Author Report Share Posted December 22, 2014 lotta info out there http://bitcoinpricelive.com/bitcoin-price-chart/#/ I've been reading the website for over an hour now. The articles are interesting and informative. Thank you for sharing the link Quote Link to comment Share on other sites More sharing options...
Kid at Riviera Posted December 22, 2014 Author Report Share Posted December 22, 2014 Spot on. Well said. +2 Quote Link to comment Share on other sites More sharing options...
mikeman Posted December 22, 2014 Report Share Posted December 22, 2014 You can say the same thing about any currency. Not really, while in the current environment you could say that currency is created out of thin air, it has the legitimacy of being legal tender. Meaning people are forced to accept it as payment of debts, if and when bitcoins meltdown, you will be stuck with them and no one will take them. As far as there being a finite amount goes, that's what the great creator of bitcoins says, do you really believe that cant be changed? Quote Link to comment Share on other sites More sharing options...
Sam Odom Posted December 22, 2014 Report Share Posted December 22, 2014 mikeman , are you fully aware how 5D & Heritage handle their BTC deposits ? If so... Explain to us Quote Link to comment Share on other sites More sharing options...
WVU Posted December 22, 2014 Report Share Posted December 22, 2014 Mikeman has this right. bitcoins are not legal tendered currency and thus no one is forced to take them. that is a huge difference. Quote Link to comment Share on other sites More sharing options...
Sam Odom Posted December 22, 2014 Report Share Posted December 22, 2014 Arent we interested in what sportsbooks do or offer? Not what Joe's Bar will do with BTC Heritage offers BTC deposits and upon receipt will convert to cash - Depositor is only open to BTC fluctuation for an hour or less. May go up or down Quote Link to comment Share on other sites More sharing options...
Sam Odom Posted December 22, 2014 Report Share Posted December 22, 2014 Where can I buy it? How To: 1. Open a coinbase or circle acct https://www.coinbase.com/ https://www.circle.com/ 2. Get a wallet for your computer or smart phone https://bitcoin.org/en/choose-your-wallet 3. buy btc from #1 , send to #2 4. from computer/smart phone wallet send to sportsbook do not interact directly to or from coinbase/circle and book - use computer/smart phone wallet as a 'middle man' Quote Link to comment Share on other sites More sharing options...
rito Posted December 22, 2014 Report Share Posted December 22, 2014 Not really, while in the current environment you could say that currency is created out of thin air, it has the legitimacy of being legal tender. Meaning people are forced to accept it as payment of debts, if and when bitcoins meltdown, you will be stuck with them and no one will take them. As far as there being a finite amount goes, that's what the great creator of bitcoins says, do you really believe that cant be changed? Currencies are valid because of the governments behind them. You certainly don't want to have all your net worth in rubles right now. The amount is finite, it can't be changed. I'm not one of these bit coin guys, I'm not invested in it. I use it to move money out of sportsbooks, that's it. But, if you are in the USA, it's the best method for moving money you have these days. I got a payout this morning from a non-usa based account into bitcoin and bought some gift cards with it that were transfered instantly to my phone. Going out shopping right now. No fees on any of this (get 3% back on the gift cards). Quote Link to comment Share on other sites More sharing options...
Sam Odom Posted December 22, 2014 Report Share Posted December 22, 2014 How To: 1. Open a coinbase or circle acct https://www.coinbase.com/ https://www.circle.com/ 2. Get a wallet for your computer or smart phone https://bitcoin.org/en/choose-your-wallet 3. buy btc from #1 , send to #2 4. from computer/smart phone wallet send to sportsbook do not interact directly to or from coinbase/circle and book - use computer/smart phone wallet as a 'middle man' If you do not want to have your Bank connected to #1 There are other ways to fund #2 https://localbitcoins.com/ http://www.coindesk.com/bitcoin-atm-map/ Quote Link to comment Share on other sites More sharing options...
mikeman Posted December 22, 2014 Report Share Posted December 22, 2014 mikeman , are you fully aware how 5D & Heritage handle their BTC deposits ? If so... Explain to us I have no idea and it doesn't matter, right now bitcoins are fine and apparently usable with trackable prices. As i said the fairytale will continue as long as enough people pretend/believe in them. That could change and if it does the gig will be up, and fast. Keep in mind someone else could just as easily create another fake currency that people would like more, what then, remember myspace? Quote Link to comment Share on other sites More sharing options...
Sam Odom Posted December 22, 2014 Report Share Posted December 22, 2014 I have no idea and it doesn't matter... Explains your other comments in here 99% of us are not BTC speculators ... we just want a quick and easy sportsbook deposit method When Heritage converts BTC to $$$ , which is instantaneously , we dont care about the future price of BTC Quote Link to comment Share on other sites More sharing options...
WVU Posted December 22, 2014 Report Share Posted December 22, 2014 I have no idea and it doesn't matter, right now bitcoins are fine and apparently usable with trackable prices. As i said the fairytale will continue as long as enough people pretend/believe in them. That could change and if it does the gig will be up, and fast. Keep in mind someone else could just as easily create another fake currency that people would like more, what then, remember myspace? There are hundreds of bitcoin type virtual currencies Quote Link to comment Share on other sites More sharing options...
rito Posted December 22, 2014 Report Share Posted December 22, 2014 Explains your other comments in here 99% of us are not BTC speculators ... we just want a quick and easy sportsbook deposit method When Heritage converts BTC to $$$ , which is instantaneously , we dont care about the future price of BTC Exactly. I was in bitcoin for around 5 minutes this morning. Quote Link to comment Share on other sites More sharing options...
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