I really dont think they are using bitstamp. Look at the guy today, said his was at 1236$. The only rate is even in that ballpark the entire last week is bitfinex. And looking at the discrepancy in everyones cashouts this week, it has to be they using bitfinex. Because relatively all the other ones are close enough. Bitfinex is the only one way off from the others, and its now starting to show in the withdraws.

I went to the bitfinex website and tried to see ok, maybe ill just use that rate to turn my btc to USD, but i think its just a trading site. There isn't an option to turn it into USD, so basically that exchange is kinda useless when you are converting USD to BTC, and want to go BTC to USD (withdraw on ignition). basically it would be super shady for bodog to use that exchange rate when cashing out players, because it is obv not a fair price.

I talked to customer service for a while telling them I wanted to know what exchange they buy from, so that I could sell it in the same place. They refused to tell me and told me they would send an elaborate email of sorts to their withdrawals department........

All things said I concur that Bitfinex is the exchange they use. It's the only one with a price in the ballpark at the time of my cashout and it might even be a perfect price match.

I do believe you can withdraw USD to your bank on Bitfinex though as it is listed in the "withdrawal fees" section. I couldn't finish creating my account yet though, so I'm not 100%.

I just still can't believe how much the people at Ignition hate money. This is exactly the kind of **** that drives away the rec players that aren't pure degens, but help make games good.

Just buy BTC anywhere besides the most expensive place. Truly can't be that hard.

They are not using the same exchange for withdrawals and deposits. I agree that they are probably using the highest price for with drawls and the lowest price for deposits. Everyone needs to boycott bitcoin with drawls until they stop doing this

I don't think that you can get the bitfinex price on withdrawals or people could just arbitrage between the exchanges

Edit just researched it and arb is very difficult but possible. I'm not keen to try it.

Well, they sure seem to use an exchange rate that's the usually on the lowest end for deposits (bitstamp and BitPay) while processing withdrawals with the highest rate possible.
If these were to be true, it's a shady af practice and makes sense why many people are missing so much money from withdrawals as bitfinex rate is just much higher than all the others with ($30+) difference.

Ignition VIP team transferred this to the "withdrawal team" which turned out to be bovada vip customer services, emailing me that the case is under review and to wait for a reply.

Btw, has anyone who does not use bitfinex received a full amount for their withdrawals recently?

Some Of my deposits are only missing An extremely small amount. Others are missing up to 5%. So it's like they are using an amount that is never more but oftentimes less. I did receive one withdrawal that was like three dollars more than I was supposed to get, assuming that was due to price fluctuation. It's like whoever is processing the cash outs sometimes uses bitfinex and other times bitstamp. Overall just seems like they round down when convenient for them.

Depending on the wallet or exchange site you use, you will be able to find out the history of exact exchange rate at the time of transaction being confirmed, and you can make a calculation of how much btc you should have received.
The only possible rate used for my withdrawals seem to be bitfinex as the numbers do indeed add up to somewhere close with their rates.

My calculations for depsits resulted in bitstamp rate being used.
It seems to be a possibility that they are taking deposits at the lowest rate and paying players at the highest rate.

However, this is one interesting answer from a VIP rep, I believe this is admitting the use of coin base for their withdrawals?
I doubt the fees would be anywhere close to 2-6% as people claim to be missing but here we go.

We're still awaiting an update from our Withdrawals Team right now.

I have looked into this further for myself though, and it looks like Coinbase has adjusted the way fees are implemented on incoming transactions.

If you'd like to look into this as well, I've added a link below:

https://support.coinbase.com/custome...ay-miner-fees-

We'll continue to wait for an update and let you know about it right away.

If there's something else I can help with in the meantime, please let me know.

OK, so my Ignition payout check was flagged and returned from the bank. I sent Ignition a copy of the check and letter from my bank a week ago. First they told me it would take 24-48 hours to look into the matter. Now they are not responding at all. Bovada did this to me awhile back and simply sent me an atm card and then loaded it with my payout. Anyone know if Ignition can do this?

Hey man. You should start using bitcoin. Btw, what part of New Mexico? I grew up in Deming.

Gemeni stone cold nuts took my acct few weeks to get approved but very seamless now. I still liked circle the best as it was so user friendly and dummie down for Bitcoin novice but gemeni is close second and hopefully will never have to go back to ripoff artists at coin base.

Gemeni faster and much much cheaper than coinbase

It appears Bitfinex is having some sort of issues which is probably why their price is so high right now. I imagine Ignition regularly uses different accounts and exchanges when buying BTC.

It's still moronic the way they handle these things, but hopefully it's a short term issue because imo there is no way Bitfinex will remain $30-$60 higher than other exchanges for a long period of time.

In the end we just have to accept the fact that they can basically screw us over however they want and we really can't do anything about it.

Unless.....We get the Transformers to fight for us.

Below is the last response I received from support this morning after a long exchange of emails and phone calls.
They are claiming they had issues with their provider and that the issue has been fixed now.


"The issue that transpired was that there was an error with that occurred with our provider.

I'm unable to provide the information as to where the funds are coming from as it's an internal process that we don't provide to our players; however, I can assure you that it's been fixed and there shouldn't be that much of a difference in what you receive moving forward.

Your feedback is truly appreciated, as I like to hear my players point of view when things like this happen. It'll be forwarded to the appropriate team to see what can be done and what we can provide or suggest to our players to avoid things like this, even for their personal use.

I'm going to keep an eye out for alternative Bitcoin exchanges as well, as I know Coinbase has updated their fee structure, and I'd like to have the least amount of fees possible for my players when sending and receiving Bitcoins.

I hope you have a great day, and if there's anything else please let me know. "

They aren't using bitfinex. Either Ignition or their processor (if they use 3rd party) are skimming withdrawals.


Go to ignition casino website. Now go to your cashier and initial a bitcoin deposit (don't worry, you don't have to follow through with the deposit....just let the invoice expire). Look at the conversion rate they are giving one the deposit.

Now open up bitcointicker.co (yes, without an 'm' at the end). Look at current rates for bitfinex and bitstamp. I just checked and they are definitely using bitstamp rates for deposits, so why wouldn't they also be using bitstamp for withdrawals. The only scenario i can think of is that they are skimming deposits and withdrawal by offering a low rate (bitstamp) on deposits and a high rate (bitfinex) on withdrawals. I hope this isn't the actual reality of the situation.

Since we still can't do anything about it, let's assume they are buying and selling their btc from different accounts and different exchanges. They almost definitely aren't holding onto players funds in the form of BTC because of its volatility and if the price tanks, then there aren't any player funds....So when you deposit, you use the rate that they have an account ready to sell at and when you withdrawal, you get the rate from where they can readily buy at. It's very possible that they use accounts across different exchanges for deposits and withdrawals. Using different exchanges may be necessary because if an exchange can confirm the funds are being used by an online casino, they can probably seize funds and blacklist accounts, or something of that nature.

By no means am I defending these morons, but I find it unlikely they are skimming. I've even received withdrawals in the past that were worth more than the submitted amount.

Req: 11/18/17 at 11:20am. Btc few hundo
Rec: ? Will update


Also will post how close + or - it is to amount requested once it hits block chain

You're that damn good that you're making a future request in November. How much for a coaching session?

yeh its not that I think they are actually using bitfinex, its just like an easy cop out to use whatever rate suits them best for the transaction. like if you broke my computer and its value is 400$ on 4 sites, but one site has it listed at $600, so I make you pay me 600$ because thats the rate on this site. If they would be doing this theres nothing you could do and it would be super super shady. But maybe they are getting some complaints and realizing we aint so dumb and they cant do that. So they "found the error" and it wont happen anymore. We'll see

Hopefully this means my campaign to call them out on this bull**** has worked. After I posted about this, there were like 10 people who showed up on this thread talking about it. Enough of us angry poker people contacted support in a short enough period of time that they finally gave up on the skimming? Next withdrawals will be small to ensure they have stopped doing this.

I just really don't like getting scammed.

Just emailed them again requesting the missing money that they stole and they sent me a copy paste response about price fluctuations again.

Get used to the sweeping changes to Ignition (for the worst) as it was recently purchased by a company in Hong Kong. They have been spotted doing several shady practices in a very short amount of time. Cash outs are lightning fast though so cannot complain there. Do expect to get screwed from time-to-time like the old days.

#legalize

Sources please? Is that only ignition or bovada/bodog as well?
Also, can you provide more details about the several shady practices besides this short bitcoin withdrawal issue you are mentioning about?

From Socorro. Yeah, I should use bitcoin but it takes forever to have the exchange and wallet bank verify and get set-up. Thinking about a wire transfer but don't see to much on here about success'es or problems going that route.

Only half the amount that was missing.

Taking ~2 weeks for bitcoin noobs to start from scratch to CIH.

I was reimbursed $91 of a $106 differential. I can live with a $6-$7 BTC price discrepancy. You won't hear this often, but thanks for being respectable Ignition.