The position hasn't changed and has been discussed in several times more recently. For Bitcoin to take the next step it has to distance itself from the seedier side of processing. Until it does its a very risky proposition for anyone to add.


We know this, and know the only thing we can do is keep working towards that.

Have you guys looked into paying players with bitcoins?

You could instantly buy them and send them out, anonymously, and the players could sell them for cash on an exchange on their own.

Transaction costs would be less than 1%.

It could revolutionize Lock.

Please read the post above yours and then reconsider if this post is necessary.

His post was made while I was writing mine.

Why do people think bitcoins are the answer. It is my understanding that the value of bitcoins fluctuate pretty violently, I would want no part of that market.

You wouldn't have to be in that market but for a couple of minutes. As soon as you received your coins you could sell them.

And if players don't want to do it, they can always just wait on a check instead.

The anonymous nature of Bitcoins from the outside make them a perfect fit for processing for US players, but its a very young currency and still has some problems.

A great recent article here: http://www.guardian.co.uk/business/2...rrency-of-vice

And an example of a recent problem here: http://arstechnica.com/business/2013...rily-falls-23/

Wordpress and Redditt are accepting Bitcoins now. What do you know that they don't? Why not give your customers the option? If they want a withdrawal in bitcoins then they have to sign a waiver saying Lock is not responsible for price fluctuations or problems with the bitcoin system.

+1 for BITCOINS

Shane, I'd snap take BIT-COINS as a payout option with the understanding I am responsible and LOCK isn't.... You should provide this option and us the consumer takes sole responsibility of this currency.

An industry that is still battling for legitimacy cant taket he same risks with Bitcoin that Wordpress and Redditt can.

If we take on Bitcoin as a deposit method then we are at the mercy of the fluctuations not the players, if you deposit $100 worth of bitcoins and then the value drops like in that recent spike then we cant change how much money is in your account, that is our loss to bear. It needs to show some more stability.

Then don't take deposits, just make it a withdrawal option.

It can be done one transaction at a time, minimizing your risk.

Yeah, this is what I was suggesting. I wouldn't expect Lock to take deposits and essentially invest in bitcoins. They could just offer it for payouts.

We still have the problem of being associated with the darker side of bitcoin.

Wordpress and Redditt as mentioned above are both marketed to web savvy customers who are more willing to accept the internet for what it really is.

The generally public still are quick to scare when it comes to these things so when they see Bitcoin, drugs and porn in the same sentences it gets tarnished and makes it hard for us to be involved.

Aren't you guys already associated with the dark side of payment processing?

So online poker players who choose bitcoin for a withdrawal aren't savvy about the internet? I don't understand your logic.

Why not offer it for 1 week? You could clear up all the pending withdrawals and satisify everyone as to Lock's liquidity. Surely one week wouldn't sully Lock's reputation too badly?

No regular players are very savvy, but the general population who we market to heavily are less so.

Then don't give them the option, give it to us savvy players. Something like our vault --- should provide a rake/elite level to have this option. The average rec player is not going to rake X amount..

So you think that some random Joe Public might be offended if he heard that you paid out some of your players in bitcoins? Otherwise you would pay everyone right away with bitcoins?

this.

This should be an option, but it cant be. And not bc Lock doesnt want to be associated with the "darkside" or any other crap, its bc they dont have the money.

Any other answer from Shane is nonsense. You know that, everyone else here knows that.

If customers have the option of a check or this then I dont see why it matters to the "non savy" fish Lock markets to. they can still choose to take a check right?

Locks worried about the red flags that will arise with withdrawls, bitcoins seems to take care of this problem... so you have a solution to the only problem you have, but yet wont take it.

Its obviously alot deeper than not wanting to hurt your reputation, which I dont know how you can possibly be worried about that since Lock is by far and away reguarded as the worst of the worst.

Shane talked about the Fair Play not being related to financial instability bc other companies like party did it. Well Party's traffic is much larger than Locks Shane. They can do this and not kill off entire limits.

200nl and up wont survive this bc eventually regs arent going to sit and push money back and forth, and if they do great for you, the games are now a rake fest. No more large withdrawals bc no one will be crushing the games that high anymore. This move was designed to get rid of all 200nl and up winning regs, or turn them into breakeven regs. All the while creating more rake at all limits.

How that doesnt scream we need to make more money and have less payouts is beyond me.

Hope the move works so anyone who does have money on Lock eventually gets it, bc if it doesnt work no one is seeing their cash. Cashouts have been being worked on for months and months on end, the result? They've only gotten worse and worse. Very plain and simple the money is not there.

Actually the checks seem to be improving. Several players have reported receiving checks today with 2 months total wait (instead of 4).

I'd take Mcdonalds gift cards. Pretty sure I could sell those at better than 60 cents on the dollar.