Quote:
Originally Posted by HurtLocker
Still have not told me if I missed something. Regardless of endpoints or any gain or loss for this "currency" is variance I do not want to deal with. Only poker profit/loss here is what I want as my focus. If I wanted to speculate and gamble on wicked movements relative to the dollar in this, there are other venues for that.
It is possible to deposit with zero bitcoin price exposure, and to withdraw with minimal exposure.
If you deposit dollars on a bitcoin exchange, you can then make a deposit to WPN, and will be instructed to deposit a specific amount of bitcoin that represents a locked in exchange rate for 15 minutes. Then you buy just enough bitcoin to cover this plus two mining fees. Send it to your wallet and then send it to the deposit address. No need to wait for confirmations on the bitcoin network for the wallet transfer here.
On the way out, the exposure is minimal, a few hours at most. Big adverse moves in the bitcoin price in short periods of time are rare, so the odds you will catch one are very small. If they happen once a month, which is very generous, and you are stuck holding for 4 hours, which is also generous, your risk is about a half percent that you will face a big adverse move during a withdrawal. Compare that to the hassles, fees, and speed of other withdrawal methods and bitcoin stacks up well.