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RE: Pay It Forward - 10/4/2015 9:45:34 PM   
sportspicks


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Yes they are.


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RE: Pay It Forward - 12/4/2015 10:20:01 AM   
tigerman

 

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Something I just recently discovered:

5 Dimes takes bitcoin. This is by far the best way of financing that I have seen. I asked for a payout at 3 P.M. Yesterday and it was in my bitcoin wallet two hours later. You can also deposit using bitcoin. Admittedly bitcoin would have been bad had you used it this time last year and held your funds in bitcoins without cashing out. Since the value of a bitcoin dropped from $1000.00 to $200.00
But I think it is definitely in an uptrend now. ( Currently around $362 ) And it's use is growing all the time. All you need to do is set up an account at coinbase.com. You link your bank account to deposit. Once your funds are in bitcoins you can deposit and cash out within a very short time frame. ( Less than 1 day ) No charge for transactions either. coinbase charges a very nominal transaction fee.

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RE: Pay It Forward - 12/4/2015 12:22:31 PM   
sportspicks


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Tiger...for everyone person that uses bitcoin, I know 5 that are clueless about it (me included). Would love a primer!

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Post #: 23
RE: Pay It Forward - 12/4/2015 4:36:23 PM   
tigerman

 

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Here's a link SP that pretty well sums it up.

https://www.itbit.com/h/education/five-minute-bitcoin-primer-what-is-bitcoin-and-how-does-it-work


The bottom line is that it's here and it works well. The only underlying problem is the volatility of the coin's value. But as I said it seems to be in an uptrend. Of course that is no guarantee.
It's very easy to set up an account at coinbase.com. You just give them your bank info and your account is linked to their site. Then you can buy and sell bitcoins from your bank account.
It takes 4 or 5 days for the funds to clear when you are buying bitcoins. However if you register a credit card with them they will give you up to $200 per week instantly. And if you want to be a big customer then they will let you use wire transfers for big amounts.

When you want to cash out at 5dimes you just put in your bitcoin wallet address. ( Which you get from coinbase.com )Then after a verification email.... Poof! It's in your coinbase account!

If you deposit by credit card at 5dimes you can still cash out to your bitcoin wallet. And there is basically no limits or transaction fees and it all happens in a matter of hours.

The only other problem I can forsee is if the government decides they don't like that arrangement and decide to regulate the whole thing which of course would put us back at square one!

(in reply to sportspicks)
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RE: Pay It Forward - 12/21/2015 12:54:40 PM   
sportspicks


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Thanks for that.  Sorry for the delay, this forum is way at the bottom Tiger!


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Post #: 25
RE: Pay It Forward - 12/27/2015 5:53:23 AM   
tigerman

 

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You're right SP. It's not something we instantly notice!
One other thing I might add is that when you get a payout you don't have to keep it in bitcoins. You can immediately put it back in your
regular bank account. Coinbase will give you the current Bitcoin exchange rate and it ends up back in your regular bank account in 2 days.

(in reply to sportspicks)
Post #: 26
RE: Pay It Forward - 12/28/2015 2:53:29 PM   
sportspicks


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It all makes sense Tiger...but if I told you I was a bit nervous still......I guess I'm paranoid.  Not sure about what, I send money to people I don't even know


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Post #: 27
RE: Pay It Forward - 1/20/2016 3:59:59 PM   
Michelangelo

 

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Looking like bitcoin value has eroded along with the stock market.

(in reply to sportspicks)
Post #: 28
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