Originally Posted by Aceuphisleev
I bought mine with cash, and I paid a commission as you mentioned, but the tradeoff was that this method did not require bank info, passport, or anything of that nature, and it was fairly quick.
Maybe u buy on 2+2? lol, that is one way to avoid info and find good rates
The bitcoin sites require verification in EU (prob everywhere) for transaction over a certain amount - this also unlocks the best rate on smaller amounts, allows larger buy/sell and other things
If u want to cash out $1k in coins to your bank account u need to verify. You may as well do it now because verified sellers profit when selling coins. The coins are "cash", so u don't always need to cash out to a bank account but if u don't, u risk it all if somebody hack or phish your wallet
In terms of paper trails, it was recommended to use this method, and also to create an extra wallet. Transfer the funds from your exchange wallet (for example Blockchain.info) to this other wallet (for example Circle) before depositing. This can probably still be tracked, but it is just what I was recommended by people in the Bovada/Ignition cashout thread.
If u really need OPSEC u should always use a tumbling service. It means the entire network funds your transaction instead of just u, so always secure
Within your own 2 wallets u can improve OPSEC by manually generating a new bitcoin address for each transaction or making a block (10,000+) of addresses on each wallet
I cashed out and had the bitcoin in my wallet in a couple hours.
It seemed that the people complaining about slow cashouts were doing it wrong or were cashing out a gazillion dollars at once.
That's how it should be, glad to hear it
I would love to know how much commission everybody pays and who they use to buy/sell coins
If I spend $100 on bitcoin (exc promo) and pay 10% to get money in my account and withdraw, I need ROI of 11% to break even
How do I play cash with rake or even SnG with rake (max ROI 15-20% on 9-player games??) and make any money? I wouldn't take those odds on PokerStars. So with bitcoin I can only justify playing MTT unless the ACR field is bad enough to guarantee crushing all games at higher rate than the biggest winners on Stars
The 1st deposit bonus makes up for it I guess but after that ....