[IMG]http://s21.************/tt5hzt6wn/Untitled.jpg[/IMG]





I just got off the phone with the CEO and here are the details I can share with you about this new option. As a Canadian player who just lost the ability to use Skrill, I'm very pleased!

• You will deposit bitcoin and get USD.
• They will use a blended exchange rate in determining how many bitcoins you need to deposit to get your desired amount of USD.
• Withdrawal option will follow shortly.
• Same exchange rate will be used for withdrawals.
• Check your cashier to see if you currently have the option (it's rolling out today)
• Deposit amounts $5-$1,000 currently (will increase)

--
Kahn

"Same exchange rate will be used for withdrawals."

It's not clear, will they use

A: They will use a blended exchange rate in determining how many bitcoins you need to get.

B: Use the same exchange rate of your initial deposit ( wouldnt make any sense!)

How will they manage to do this with the volatility...

Say i deposit 1000$ for 1 bitcoin and in 6 months i have 10 000$ balance, will they pay me 10 bitcoin or they will pay me 1 bitcoin if a bitcoin now worth 10 000$

Your will deposit a bitcoin, and get USD in your account. When you withdraw, you will get the USD equivalent in bitcoin at whatever the current rate is.

Not the same exchange rate as your deposit, but the same methodology. Thus, there is not using a "good" exchange for them on deposits, and a "bad" exchange for you on withdrawals. It will be a blended rate of the same exchanges. People with how some sites like 888 get you on currency charges will appreciate this.


--
Kahn

Pretty awesome, I was wondering when these site allowing US players were going to set up Bitcoins.

their software is still garbage though.

So if you deposit using bitcoins you have to withdraw as bitcoins, with no option of USD?

according to Pablo C.

"Brian, this option is showing up in the cashier but it will not be available"
"it will be removed from the cashier shortly"
"it will be added in the future but not yet"
"it was added to the system, but it is not available for use yet"


I wouldn't hold my breath just yet...

^^ Confirmed.

You would likely get paid either $10,000 USD or its equivalent in bitcoins at the spot price on the date when you cashout.

(No information on whether or not you can get BTC at cashout or some other currency than USD)

"Withdrawal option will follow shortly.")

Under your hypo, you would get either $10,000 (or 1 bitcoin maybe). ..... same concept if the bitcoin/usd rate moves the other way. I do not think they are running an arbitrage service.

You deposit in USD denomination, not bitcoin denomination. Thus let us say you want to depo $1,000 USD. The system checks a few bitcoin exchanges and comes back and says "the average price of bitcoin is $1,000, send us 1 bitcoin"

You send a bitcoin. You are credited with $1,000 USD.


Later you have $5,000 USD in your account and want to withdraw via bitcoin. You input your withdrawal amount in USD as $5,000. The same exchanges are pinged and let's say the average bitcoin price is $2,500 now. You get 2 bitcoins. Your USD on the site does NOT fluctuate with the price of bitcoin.


--
Kahn

They will save a literal fortune in processing fees if this becomes a popular deposit/withdrawal method.

Good to see a site come around to the possibilities available with btc.

Bitcoin withdrawals from WPN will revolutionize and completely redefine how we view cashout speeds. 1 week cashout out vs 1 hour cashouts, this is amazing news, I can't wait.

This is fantastic.

Love the fact ACR is bringing this option and will make depositing easier since I use swc and bitcoin also. Wonder how long until it will finally be available to officially use

can someone explain how you can use bitcoins?

I read about it a little while ago, I get the idea yeah I know they have a bunch of geeks crunching numbers on their PCs to build a secure chain ooooh amazing but how do you like create an "account" to store bitcoins in?

I tried to search about it and I came up with:

A.) a bunch of sketchy-looking sites advertising free bitcoin accounts

B.) some really complicated explanations of how "bitcoin accounts" work that made about as much sense as dennis rodman singing happy birthday to kim jong un.

This is the problem with anything that is driven by IT people... they get such a boner to talk about tech details and they have no ability to communicate in concise English, so you just wind up with pages and pages of technobabble everywhere.

That's because the system IS somewhat complicated. If you want to understand it, learn the technobabble. A plain English version could not accurately explain it.

The easiest and safest way I have found to buy bitcoin is on http://coinbase.com

If you want to store your bitcoin locally you will need a Bitcoin wallet http://bitcoin.org/en/choose-your-wallet (the block chain may take a day until its ready, I left it going over night)

To keep up to date with what bitcoin price is, I use https://btc-e.com/

Hope this help.

If they have bitcoin withdrawals within 48 hours of cash out requests I will definitely play on there more. That would be awesome.

Glad to see BTC is now an option, but when is the software going to work correctly?

When withdrawals are made available, they will take > 1 hour (security checks) but almost certainly < 48h



--
Kahn

Are deposits using bitcoins available to everyone yet? I don't have the option still.

^^ Don't think they are available to anyone just yet. Should be an announcement coming shortly, though.

I just had a chat with the help desk. They will launch it soon but it won't be available to US players. That doesn't even make sense.

Geez, it would make more sense if it was catered directly TO US players - it would take the US government out of the equation since no "money laundering" would be involved (which is the contention of the government).

Makes no sense since US players need this option the most.

Maybe you got a clueless support person.