Betcoin in trouble?

cat24550

cat24550

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I would be very cautious in leaving any money on Betcoin. From talking with the regular players there today who have also noticed some odd financial problems, I would not be surprised if they skip and run without paying cashouts. I like playing on their site so will keep up with what is happening and will let you all know if anything changes. cat
 
veltins

veltins

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ya so true.. cant trust any of bitcoin sites.. already some are in trouble n ran away without paying from some news.. so be careful
 
cjmoles

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ya so true.. cant trust any of bitcoin sites.. already some are in trouble n ran away without paying from some news.. so be careful

I have been playing at Betcoin.ag for a few years now and have never had a problem....In fact, they have some of the quickest, if not the quickest, withdrawal times in the industry.

However, I do agree that one should be cautious of bitcoin casinos due to the unregulated nature of the bitcoin economy. There are many thieves, scammers, and shills in the bitcoin market because the environment attracts those types....So, do your due diligence in choosing the right bitcoin casino and you could enjoy banking freedoms you've never before experienced. A vast majority of my withdrawals from Betcoin.ag reach me in less then 30 minutes, some take a little longer, but I've never had to wait much longer than an hour!
 
thechamp5

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Wow, that is incredible how fast you receive your withdrawals! In the U.S. I can remember it taking almost a week once for Carbon to process and send a withdrawal. What are the major problems that people experience with the bitcoin casinos and sites? Is it because of the bitcoin economy or is due to lack of integrity of sites that are just trying to steal bitcoins?
 
P

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The major problems are that many bitcon operators hides their identity or make false and misleading statements and if they run away with your bitcoin, to claim your rights will be difficult, but at least very time-consuming and costly. And many victims do not want to spend money to enforce their rights.

Betcoin.ag is a publicly approven scam, because they suggest in their "terms of service" that customers would have a legally binding agreement with the domain name betcoinpoker.com But it is juridical possible to have an agreement with a domain name! This is only possible between legal entities or private persons. Betcoin also do not state the name of the operator and a license.
 
thechamp5

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Thanks for the advice, and being wise enough to actually read the agreements. That does sound a bit shady, just so you know I have learned that in addition to being careful about the poker sites themselves (which I have seen some legitimate sites offer Bitcoins as a payment and withdrawal method), you have to be careful about which "wallets" you use with poker sites because not all of them are friendly with poker sites and some may close your account.
 
TeUnit

TeUnit

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what issues are you hearing about?
 
thechamp5

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Some one said that some wallets do not want to be used in conjunction with poker sites and have been shutting down accounts. They didn't indicate if they shut accounts with money on them or not, but that you had to be careful in which wallet you chose. I was just passing this information along, it is not my first-hand experience. I am just probing the waters to see what kind of stability and experiences other people are having with using Bitcoins, I am not a Bitcoin user myself.
 
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