+1

I've been following that thread and have learned a lot from it.

i use circle often but have coinbase too but havent used it much...coinbase charges 1% but doesnt get nearly as nebby about cashing out, correct?

The purpose of using blockchain as an intermediary is to make it plausible that you aren't directly receiving BTC from a known gambling source/address. In other words, if a known gambling address sends money to Address A, which sends it to Address B, it's plausible the owner of Address B is different than the owner of Address A and had nothing to do with the gambling transaction.

There's no guarantee this will work forever. If you're simply sending immediately from your Blockchain address very soon after it's received, they may think that's clear enough to link you to gambling and close your account. Or if you perform the exact same process repeatedly.

Using blockchain as an intermediary is simply the minimum/easiest way to make it not 100% obvious where the money came from (if the gambling site's original bitcoin address is known to be controlled by them.) We can't say for sure whether sites like coinbase/circle will get more aggressive with locking accounts or not. I don't know if they simply want to do the very minimum to comply with regulations or to take a more active/aggressive approach to make sure their service isn't use for gambling - so that may affect how careful people need to be to make it non-obvious that their money is related to gambling.

Good posts. Helpful to know more about the situation as someone who has just signed up for a Circle account myself and processed one (so far) BC Merge>Blockchain>Circle>Bank withdrawal.

Another thing I'll point out is that now that both Bovada and ACR offer Bitcoin deposit/withdraw, you may be able to funnel money through either of those sites -- in other words, deposit in Bitcoin and receive check withdrawals. This will allow you to reduce by some fraction the amount of $ you're putting through a vendor such as Circle. The only thing would be to not arouse suspicion by those sites by depositing and then immediately requesting a wdraw, when say you already have a sizeable account balance with the site.

Another thing I'll mention, though not sure it's relevant or that it's news to anybody, is that with some wallets such as blockchain.info you can generate multiple bitcoin addresses which may decrease scrutiny by the recipient vendor. Like it's possible accounts get flagged that receive certain $ sums from the same Bitcoin address in a given period of time, which can be circumvented by never sending from the same address twice.

I tried Merge>Blockchain>Coinbase to avoid the Circle scrutiny.

Coinbase just froze my account.

I have had the Coinbase account since 2014 and used it for some Seals With Clubs transactions with no problems but hadn't used it again until a couple months ago. This time I made a 1 BTC transfer from blockchain to Coinbase and bought some gift cards. Then when I transferred 8 BTC to Coinbase, they froze me.

They want to know the source of the funds. Anyone have any suggestions?

Thanks

You bought gift cards from Gyft.com

I would just say you're a work from home independent contractor where you do some sort of internet-based work like advertising/marketing, web design/functionality, tech support, etc. Your clients are small businesses/individuals and some of them use bitcoin. You get paid on a per-contract basis hence the large sums. Keep it vague but plausible imo.

Another option might be to claim expertise in a particular area that you do private consulting for -- this might sound better/less vague but can get messier faster if they ask you for more evidence of your profession such as a website or linkedin profile.

Sounds good. Thanks.

I would start with the simplest explanation. Say you were transferring money from your own personal wallet to Coinbase to sell. That's exactly what you did. If they aren't satisfied with that, then come up with something else, or just stop using Coinbase.

I like it. Thanks.

I've not had to provide the source of the funds yet. The pop-up I kept getting had a link to "complete my account set-up". The link never worked though. A few hours later the pop-up was gone and I was able to initiate a sell (to go to my bank).

May 3: BTC hit blockchain (value $4747)

I got a little nervous with Carbon as the games were kinda dying about a month ago so I cashed out. They came through and Fed Ex'd me $1500 check. So about a month and no problems.

I am trying to activate my bitcoin withdrawal option I just deposited ~$5 for the first time and afterwards I emailed them asking them to activate it. THey responded by saying:

"Withdrawals through Bitcoin may be offered to customers who actively use it as a deposit option for their accounts. As soon as this becomes available in your account we will be informing you."

Should I keep depositing today? Or should I only deposit once a day for a few days in a row? Any advice for anyone who has been in same situation? Thanks!

i deposited for the first time in years via BTC last week, once. next day BTC withdrawal option appeared and all others are gone.

made first ever 5k btc withdrawl and it came in 8 hrs and got processed.

second btc withdrawal made on 5/6 still pending 5/10

Is this of any concern? You guys know of reasons for lag times? Is it because btc has shot up recently?

Is it because im cashing out too fast?

Whats the longest reported btc cashout?

thnx for the help

Weekend maybe?

Yep, very likely due to the weekend. I had a similar situation for one of my BTC withdrawals, I'd be very surprised if it doesn't hit your account today or tomorrow at the very latest.

5k btc pending since 5/3

buckle up, i wasn't feeling too well when i saw mine didn't go through yesterday after usually going on a monday

let's pray we arent' in the same situation as before

Anyone try and have success trying to deposit the Canadian carbon checks thru mobile banking? (Taking pic of check, etc to deposit). I'm on the road far away from any bells bar go branches. I know they offer banking by mail also but that can take up to 15business days to get the kit. Had check sent to parents house and by the time I get there it might be a couple weeks. Wish mom would just sign it over to herself and send me a check of hers.

anyone have a btc go through in the last week or so?

Sorry I haven't been up-dating as much, but just got notice that another max 5k wire got processed. Been pretty consistent every 3-4 weeks since the start of the year. Nice to see things are back to an acceptable time frame for cash outs.

BTC max requested 5/7
processed 5/9

received in btc wallet 5/11

BTC req 5/10
processed 5/11

received 5/12

^ good to hear