Bitcoin Issues

[weesie]

Hi,

I am fed up with coinbase and their constant problems.

Can anyone post here any other btc sites. Preferably ones

with less than "rape" charges for fees.

Also if they take bank debit cards.

Please!!!!!

 

[Fiekie247]

Do you want to buy Bitcoin?

Well what i normally do, i purchase bitcoin on Localbitcoins or Paxful, anything that has Escrow for transactions and transfer them to my personal wallet.

Make payments to online casinos from my personal wallet and withdraw to my personal wallet. Even the wallet on Paxful and Localbitcoins operate nicely.

Also 2step authentication is a necessary precaution for these sites mentioned.

 

[weesie]

Yes, buying them.

You don't mention the fees?

 

[Fiekie247]

Yes, buying them.

You don't mention the fees?

Obviously in general everyone will ask a markup on the original bitcoin price and the markup will depend on your payment method used for purchasing. That is how it works, so normally people will ask $100 or so more than the actual price per bitcoin, which is standard.

For me when I sell my bitcoin again, I ask a markup price myself, which means I make my money back.

There is a user called drhany25 on paxful. He is the cheapest out of them all and even bring his prices down to beat others.

 

[weesie]

I am not concerned about clearing security, as ID is not a problem.

Just tired of either paying through the nose for fees (pd 28.00 got 19.00 yesterday)

and then also coinbase seems to have way to many problems, either delayed transfers

or temporary outages.

Really getting old.

Thanks

 

[weesie]

So, no other bitcoin gurus around here?

Surely there is more info out there!

 

[secret2]

I'm with you Weesie, until there is a better way of depositing, then it's not going to happen.

I am not willing to pay those fees, either and I can't find a bitcoin site that is reasonable.

So, I am just staying with my tried and trusted casinos (Inetbet and Intertops) where I can still use my C.C.

 

[lnspin]

Think coinmama has lower fees then coinbase..

Issues with btc is they are easy to spend and cash out with and use in casinos but buying them is not too easy..

 

[Kelly Jo]

Think coinmama has lower fees then coinbase..

Issues with btc is they are easy to spend and cash out with and use in casinos but buying them is not too easy..

Circle was perfect.

*************

Coinbase has zero customer support. The last time I tried to use them, I got a notice telling me to contact customer support and it gave me a link.
I followed the link, sent an email, and then the next day received an email back that said:
Due to the high volume of email requests, Customer support will no longer be taking direct emails. Please send your inquiry to ...."" (paraphrased)

Is that not the most ridiculous thing you've ever read? I gave up.

************
Paxful is WAY too expensive and it is full of sellers that want you to stand on your left foot while holding a piece of paper with their name on it, and snap a picture of yourself eating a sandwich and saying the Pledge of Allegiance in front of your computer screen that has the current selfie request showing in the background. It is INSANE!


Making a bitcoin purchase always puts me in a bad mood.

 

[Kelly Jo]

Obviously in general everyone will ask a markup on the original bitcoin price and the markup will depend on your payment method used for purchasing. That is how it works, so normally people will ask $100 or so more than the actual price per bitcoin, which is standard.

For me when I sell my bitcoin again, I ask a markup price myself, which means I make my money back.

There is a user called drhany25 on paxful. He is the cheapest out of them all and even bring his prices down to beat others.

Thanks. That is very kind of you to pass this information on. A++ for usefulness!

 

[Fiekie247]

Paxful is WAY too expensive and it is full of sellers that want you to stand on your left foot while holding a piece of paper with their name on it, and snap a picture of yourself eating a sandwich and saying the Pledge of Allegiance in front of your computer screen that has the current selfie request showing in the background. It is INSANE!

Hi Kelly

Yes Paxful is expensive but look at it like this:

Bitcoin - ZAR which is my local currency is currently sitting at R57 199.33 zar per bitcoin if you google it .

If I purchase bitcoin on Paxful it will cost me $4400 - $4700 per bitcoin depending who I buy it from

Now obviously I pay about $200 more on average per bitcoin when purchasing right.

But if I transfer my bitcoin to my local exchange in my country, they price bitcoin at R61 200 zar per bitcoin



Which means in Paxful I purchased bitcoin value of $4300 even though I paid $4500 for it, but when I transfer my bitcoin from Paxful to my local exchange wallet which is Luno then my bitcoin value is $4600 as Luno rate bitcoin at R61 200 zar instead of R57 200 zar, which means that R4000 zar difference you will get extra is equivalent to $300 more or less when you sell on Luno.



I hope this makes it a bit clear, so whether you purchase bitcoin for $200 to $300 more than whats it worth, you bitcoin worth will increase when you transfer it to another exchange or if you wait another week, bitcoin goes up and you make a small profit when selling those you purchased. I know it sounds confusing, but this is the way i see it.

 

[Kelly Jo]

You bitcoin worth will increase when you transfer it to another exchange or if you wait another week, bitcoin goes up and you make a small profit when selling those you purchased. I know it sounds confusing...

Listen, I'm more than willing to let you work up a similar formula for me. My currency is USD. And could you have it ready by Friday?

No pressure or anything...


lololol!

Seriously, though. Any advise would be welcome.

 

[weesie]

Today again,

spent $26.49 at coinbase

received $18.59 in Intertops

all the rest was fees.

Seems like coinbase themselves could try to regulate these rip-off artists.

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[secret2]

Weesie, I know about the fees but how long did it take for the transaction?

Did you deposit first at Blockchain and then to Coinbase? or from your cc/bank to Coinbase?

 

[weesie]

Weesie, I know about the fees but how long did it take for the transaction?

Did you deposit first at Blockchain and then to Coinbase? or from your cc/bank to Coinbase?

No, the last few haven't taken very long.

Hell, I wouldn't even mind waiting an hour or so if they would quit ripping me

off with those fees.

I buy at coinbase with CC then send wherever..... but it is usually smaller deposits

like 25 to 50 dollars. They are taking 30%-33%....... might as well used a gun!

 

[kahntrutahn]

No, the last few haven't taken very long.

Hell, I wouldn't even mind waiting an hour or so if they would quit ripping me

off with those fees.

I buy at coinbase with CC then send wherever..... but it is usually smaller deposits

like 25 to 50 dollars. They are taking 30%-33%....... might as well used a gun!

This is a function of the network issues I described in the other, larger bitcoin thread. Sorry it took me so long to reply, I didn't see your post until just now!

In short, you can adjust your fees on blockchain.info to lower amounts to save money. It will result in slower transaction confirmation times, but it's manageable.

 

[weesie]

This is a function of the network issues I described in the other, larger bitcoin thread. Sorry it took me so long to reply, I didn't see your post until just now!

In short, you can adjust your fees on blockchain.info to lower amounts to save money. It will result in slower transaction confirmation times, but it's manageable.

Yes, maybe so, but sending to blockchain first is added fees too....

they get you coming and going.


Why send to blockchain just to have even more fees deducted?

It's a no-win either way.

 

[secret2]

It's not a good idea to send and receive bitcoin straight from CB to a casino. You might get banned as CB , the last time I checked, frowns upon gambling.

If you use Blockchain, then CB, it should be ok. I know the fees are extreme but if you want to play without fear of being banned.

Correct me if am wrong.

 

[weesie]

It's not a good idea to send and receive bitcoin straight from CB to a casino. You might get banned as CB , the last time I checked, frowns upon gambling.

If you use Blockchain, then CB, it should be ok. I know the fees are extreme but if you want to play without fear of being banned.

Correct me if am wrong.

Yes, I am aware of the possible problems and if I were a big buyer I would

probably be more concerned. When receiving (winning, I've heard this does exist) I do send to blockchain......

unfortunately I rarely get to receive any btc since my luck is right

up there below a gnats balls.

 

[secret2]

I share your grief, weesie.

I am visualizing a gnat and his balls , right now.

 

[kahntrutahn]

like 25 to 50 dollars. They are taking 30%-33%....... might as well used a gun!

Another simple solution... economy of scale. Buy more bitcoin at a time. Send it all to blockchain so you only incur one high coinbase send fee. Then make your deposits from blockchain.info and use the advanced send feature to send customized (lower) fees.

 

[cheetahwind]

I think the primary issue is @kahntrutahn is that most of the folks that I see posting here are looking primarily for electronic methods to buy there BTC. I realize the cheaper ways are actual cash deposits at a bank or cash transfers and you'll save a ton on the fees at places like Paxful and Local Bit Coins.

Yet when your looking to do anything electronic the mark up almost instantly becomes at least 10% if not more because not many folks put prime rates up for first time buyers doing completely electronic transfers.

Yes I've established enough reputation with enough sellers where I can perform a Pay Pal transfer at a 5% mark up, can do a prepaid card peer to peer transfer for a 2% mark up. Yet that's after building a feedback score of 900+ on Paxful.

Also the other issue is now even though we have SegWit in place, the fee structure has gotten back to getting way out of hand. Which naturally a place like Paxful has a flat fee in place, 0.0008 which with the current price puts the cost of that transaction at $3.64 just to send a transaction across the network. So for oh say a $20 deposit at an online casino folks are now spending 25% of what the transaction is worth just to get it to go across the network.

BTC was great for a short period for folks, but now for even for someone like myself who yes I pay attention to the BTC economy. I think for one the price has gotten way out of hand. Especially in such a short period of time. Making my gambling at actually BTC casinos such as Bit Starz non existent these days because it feels like those casinos are now for the rich. Especially when your looking at a small time depositor. Then even if I wanted to make a deposit into something like Casino Extreme, I get raped in fees along the way.

While I do think BTC has a place for sure, someone has to for sure tackle the price of transactions and the way these casinos are accepting bets.

 

[kahntrutahn]

I just checked the fees on Coinbase. ~$5.35 to send bitcoin at 513 satoshi/byte. On blockchain.info, the "expedited" recommended fee is 310 satoshi/byte (~$3). However, the "regular" fee is 25 satoshi/byte (1/20th of the network fee Coinbase is sending). Coinbase's algo's are screwy. The best plan is to buy a larger amount of btc on coinbase in one shot, move it to blockchain.info, and then disburse it as you see fit to the various sites you play on, with drastically lower miners fees using the advanced send option.

 

[kahntrutahn]

I think the primary issue is @kahntrutahn is that most of the folks that I see posting here are looking primarily for electronic methods to buy there BTC. I realize the cheaper ways are actual cash deposits at a bank or cash transfers and you'll save a ton on the fees at places like Paxful and Local Bit Coins.

Yet when your looking to do anything electronic the mark up almost instantly becomes at least 10% if not more because not many folks put prime rates up for first time buyers doing completely electronic transfers.

Yes I've established enough reputation with enough sellers where I can perform a Pay Pal transfer at a 5% mark up, can do a prepaid card peer to peer transfer for a 2% mark up. Yet that's after building a feedback score of 900+ on Paxful.

Also the other issue is now even though we have SegWit in place, the fee structure has gotten back to getting way out of hand. Which naturally a place like Paxful has a flat fee in place, 0.0008 which with the current price puts the cost of that transaction at $3.64 just to send a transaction across the network. So for oh say a $20 deposit at an online casino folks are now spending 25% of what the transaction is worth just to get it to go across the network.

BTC was great for a short period for folks, but now for even for someone like myself who yes I pay attention to the BTC economy. I think for one the price has gotten way out of hand. Especially in such a short period of time. Making my gambling at actually BTC casinos such as Bit Starz non existent these days because it feels like those casinos are now for the rich. Especially when your looking at a small time depositor. Then even if I wanted to make a deposit into something like Casino Extreme, I get raped in fees along the way.

While I do think BTC has a place for sure, someone has to for sure tackle the price of transactions and the way these casinos are accepting bets.

BCH, aka Bitcoin Cash, the new coin that forked off of BTC, has fees of around 1-3 cents for fast transactions right now. It is using an upgraded version of the originally intended upgrade plan for bitcoin... segwit wasn't the original plan laid out by Satoshi Nakamoto, far from it! Who knows, BCH may yet become "Bitcoin" in the end. Only time will tell. But it is likely that more and more merchants will begin accepting BCH/Bitcoin Cash because its fees are super low, just like BTC's used to be.