Quote:
Originally Posted by pot_committed
Don't even know what that means.
I got set up and processed a withdrawal just now. Set up a Coinbase acct and did all the verification to enable crypto transfers (upload ID). I got the unique blockchain address. Is that the same as a buffer wallet?
So now I have a bunch of cash floating around the internet somewhere, and I have no idea what happens next. Do the funds just show up on my Coinbase acct? Do I get a text or email notification that the funds are in my acct or do I have to keep checking for hours until they are in?
My problem with BTC all along has been the price volatility. Right now it looks like that is working in our favor, but I want to cash out as soon as possible. What happens next?
Coinbase and some of the major exchanges don't facilitate transactions from gambling sites and have been able to detect sometimes when transactions come from said sites. This can cause trouble for things like cashouts. So what you should do is use a buffer wallet like blockchain.info or something similar.
Make your cashout line go Ignition > blockchain > coinbase to avoid any issues.
You're going to have to nut-up and just accept bitcoin's volatility. You're gonna lose some at times but other times a withdraw will hit while you were sleeping and you'll wake up with an extra 11% or something.
Generally the bodog network pays out quick enough that it's never really a big issue. Those short term fluctuations probably get reasonably close to even long term.
As for what you do now...yeah you wait. Depends on what kind of alerts your wallet has if you're going to be notified. Ignition usually emails when they process. I would look at venmo and similar things as more "cash floating around the internet" than a bitcoin transaction lol. Bitcoin is just as fast as venmo p2p...it's just a company like ignition requires time to process volumes of withdrawals.
Once you see how easy and convenient btc is compared to everything else and have a few successful transactions you'll be stoked.
Last edited by a octopus; 05-15-2019 at 03:26 PM.