Bitcoins as a cashout option? G911 says Lock looking into offering bitcoin. - Page 3 - Two Plus Two

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Bitcoins as a cashout option? G911 says Lock looking into offering bitcoin.

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05-14-2013 , 04:48 AM

#51

Chazley

old hand

Join Date: Jan 2009 Posts: 1,827

Quote:

Originally Posted by JimAfternoon

bitcoins are really no less safe or reputable than the WU's from third world countries that he was saying he trusts so much.

This is a pretty ridiculous statement, way offbase.

05-14-2013 , 04:57 AM

#52

JimAfternoon

Carpal \'Tunnel

Join Date: Mar 2011 Posts: 6,903

Care to explain how WU is so much better?

05-14-2013 , 05:04 AM

#53

chinamaniac

Pooh-Bah

Join Date: Nov 2009 Posts: 3,720

Quote:

Originally Posted by JimAfternoon

Shane's excuses for why Lock wants to stay away from BTC are some of the weakest posts he's ever made in this forum.

There's no chance they'll offer BTC cashouts, imo.

If they do offer Bitcoin it would go something like this

Player initiates 10k to be cashed out via bitcoin

Lock then puts wait on it for weeks, waits till price falls then cashes out player

05-14-2013 , 05:27 AM

#54

ZeckoRiver

Pooh-Bah

Join Date: Jun 2010 Posts: 5,590

Quote:

Originally Posted by Chinamaniac

If they do offer Bitcoin it would go something like this

Player initiates 10k to be cashed out via bitcoin

Lock then puts wait on it for weeks, waits till price falls then cashes out player

That is a valid concern there would have to be timeframes in place like 8 hours to receive cashout otherwise very plausible that Lock based on their past track record would try and use those type of tactics in waiting for bitcoin to drop as it can be a volatile currency.

05-14-2013 , 06:00 AM

#55

sunsibar

banned

Join Date: May 2013 Posts: 104

I´m sure that Lock will get alot of new players when indroducing Bitcoins as a withdrawal option. Not only that withdrawals can processed much quicker(especially for US players), but also winnings can be withdrawn anonymously.

Quote:

Originally Posted by Chinamaniac

If they do offer Bitcoin it would go something like this

Player initiates 10k to be cashed out via bitcoin

Lock then puts wait on it for weeks, waits till price falls then cashes out player

This is totally BS! What is when the price for Bitcoins is rising up?

Lock have to give you the number of Bitcoins what they get when they convert the money into Bitcoins.

05-14-2013 , 06:25 AM

#56

39suited

But it was suited

Join Date: Feb 2008 Posts: 8,189

Quote:

Originally Posted by Chazley

This is a pretty ridiculous statement, way offbase.

How about evaluating this as well instead of simply dropping non saying one liners back ITT?

Quote:

Originally Posted by sunsibar

This is totally BS! What is when the price for Bitcoins is rising up?

Lock have to give you the number of Bitcoins what they get when they convert the money into Bitcoins.

Unfortunately the thought is not far away from reality considering how Lock has been doing its processing in the past 1 1/2 years.

05-14-2013 , 06:38 AM

#57

Chazley

old hand

Join Date: Jan 2009 Posts: 1,827

Quote:

Originally Posted by JimAfternoon

Care to explain how WU is so much better?

its the complete opposite, bitcoins are so much better.

IRT 39, some things are way too obvious to have to be explained. saying wu=bitcoin in terms of safety is simply false. bitcoins are anonymous, require zero transaction fees for poker sites, and sites have absolutely zero excuse to not cashout within 24 hours.

05-14-2013 , 06:48 AM

#58

sunsibar

banned

Join Date: May 2013 Posts: 104

Quote:

Originally Posted by 39suited

Unfortunately the thought is not far away from reality considering how Lock has been doing its processing in the past 1 1/2 years.

What has the thought:

Quote:

Originally Posted by Chinamaniac

Player initiates 10k to be cashed out via bitcoin

Lock then puts wait on it for weeks, waits till price falls then cashes out player

To do with how they processed the withdrawals in the past 1 1/2 years?

Was there an exchange rate involved in processing the withdrawals like it´ll be when using Bitcoins?

How can Lock wait till the price falls when it is not sure that the price will falls and can rise up as well?

05-14-2013 , 06:55 AM

#59

ZeckoRiver

Pooh-Bah

Join Date: Jun 2010 Posts: 5,590

Quote:

Originally Posted by Chazley

unless of course...........

Shanes reasoning last time subject was broached was he didn't want the integrity of lock being painted with the brush that is bitcoins. Word for word.

05-14-2013 , 08:04 AM

#60

Mccormick

old hand

Join Date: Mar 2010 Posts: 1,982

Quote:

Originally Posted by Chinamaniac

If they do offer Bitcoin it would go something like this

Player initiates 10k to be cashed out via bitcoin

Lock then puts wait on it for weeks, waits till price falls then cashes out player

Well, that wouldn't make any sense whatsoever.. Lock doesn't gain nor lose anything at all for the exchange.

That's what it is, an exchange. Lock cashes you out 10k, if the BitCoin price drops it simply means they now owe you more total BTCs. In any case it doesn't matter, to them it's 10k and 10k it's going to be. The corresponding amount of BTC matters null, zero.