FYI: Bitcoin deposits are now available

Mikass

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Entropia might not be the first MMO to accept Bitcoin, but it certainly made the top 10 list following this news:

Bitcoin Integration

Payments processor and prepaid card provider Neteller has added a bitcoin deposit feature.

A representative for Neteller confirmed the deposit feature, telling CoinDesk it may be officially launched as early as tomorrow.

The move is an apparent reversal of policy for Neteller, which previously revised its terms of use policy to explicitly prohibit the “trade, exchange, purchase or sale of bitcoins, or any other virtual currency”.

Users of the service have since taken to social media to advertise the presence of a bitcoin option on the website. The spokesperson said that what users are reporting is likely the first stage of the integration.

“It is brand new,” the representative said, declining to elaborate further on the feature.

 

AxeMurderer

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I'm assuming you can depo bitcoins to netteler and try to deposit butcoins from neteller to EU and fail.

Else Netteler must buy your bitcoins and I don't believe they want to do that.
 

Etopia

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cool new.
if there is some people who test it , can they say how it work exactly?if MA can take bitcoin directly?if there is some charge or something.
 

KaelMeuk

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cool new.
if there is some people who test it , can they say how it work exactly?if MA can take bitcoin directly?if there is some charge or something.
I can't test it right now but i am pretty sure it works like most other websites which is this:

You send Bitcoin to Netteller.
Netteller uses a Bitcoin Exchange to sell your bitcoin for USD/EUR.
Netteller sends USD/EUR to MA.
MA gives you PED.

MA doesn't probably even know you paid it with bitcoin.
 

Mikass

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I can't test it right now but i am pretty sure it works like most other websites which is this:

You send Bitcoin to Netteller.
Netteller uses a Bitcoin Exchange to sell your bitcoin for USD/EUR.
Netteller sends USD/EUR to MA.
MA gives you PED.

MA doesn't probably even know you paid it with bitcoin.
Exactly.

This option is particularly attractive because it's cheap and you can also use fast PED withdrawal via Neteller provided you have deposited via Neteller previously.
 

Sub-Zero

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Exactly.

This option is particularly attractive because it's cheap and you can also use fast PED withdrawal via Neteller provided you have deposited via Neteller previously.
I have also wondered about that withdraw thing. How fast is it and you can only withdraw what you put in neteller right?
 

arejaytee

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You send Bitcoin to Netteller.
Netteller uses a Bitcoin Exchange to sell your bitcoin for USD/EUR.
Netteller sends USD/EUR to MA.
MA gives you PED.

MA doesn't probably even know you paid it with bitcoin.
This is how the process works, they are using Bitpay.

You transfer bitcoins to neteller, once processed it shows in your account. After this you deposit as normal through the Neteller Deposits Page or through the game client (never done that).

Now if only we could go the opposite way!
 

Rumsponge

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Exactly.

This option is particularly attractive because it's cheap and you can also use fast PED withdrawal via Neteller provided you have deposited via Neteller previously.
So, MA transfers money to Neteller faster than they transfer money to my bank?
 

aVaLON_52

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Anyone know the rate?

Is it 10.00 USD (in Bitcoin) for 100 PED?
or...9.65
or..less?
 

Darkpepe

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i tried to transfer a bitcoin to my neteller wallet, sadly i get an error that deposits are temporary not available. TBH im not sure how it is possible to transfer a concrete amount like 0.05643 Bitcoins, as i have to enter a amount in euro (account-currency is used).

i will try it later and report here.

@AxeMurderer i do not think, that it will make any sense to get into the bitcoin mining anymore, without huge computational power. The complexity of the current blocks is so difficult, that you would need the newest(!) generation of miners, yes miners....you would need a few, to gain a noticable amount of bitcoins.

https://alloscomp.com/bitcoin/calculator check out that link, for an idea of the actual dimensions :D ...just enter summed up hashes, as you would get them in your antminer-cluster. edit#2: dont even try video cards or your processor, they are too slow already.....
 
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Rumsponge

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These days, mining bitcoins is like buying a lottery ticket.
 

arejaytee

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With how much equipment and how much electricity?
Also interested in what gear you are using but I would guesstimate about $2500-$3000k at current prices.

Would need at least 3000 GH/s currently to produce 1 bitcoin per month, which means 4 Butterfly Monachs at $340 each. So effectively double that for one every 2 weeks.

Electricity wise I am not sure, but its a losing situation taking into account the difficulty getting higher and getting less bitcoin each month.
 

Rumsponge

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Also interested in what gear you are using but I would guesstimate about $2500-$3000k at current prices.

Would need at least 3000 GH/s currently to produce 1 bitcoin per month, which means 4 Butterfly Monachs at $340 each. So effectively double that for one every 2 weeks.

Electricity wise I am not sure, but its a losing situation taking into account the difficulty getting higher and getting less bitcoin each month.
That's about what I was thinking. You really don't hear about people running video cards much anymore. A while back, I saw a video about these Chinese guys that have several warehouses full of dedicated equipment mining 24/7. I'm sure there are many similar setups around the world.

Chances of success has got to be getting tougher and tougher very quickly.
 

aVaLON_52

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With how much equipment and how much electricity?
The machines are efficient; all antminer except for the asictube and asicprisma. But in this case efficiency is irrelevant. Electricity free here.

P.S.
I.M.H.O.
Bitcoin is cheap right now
 

arejaytee

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The machines are efficient; all antminer except for the asictube and asicprisma. But in this case efficiency is irrelevant. Electricity free here.

P.S.
I.M.H.O.
Bitcoin is cheap right now
Got any pics of your setup?

Yes it is cheap if you are buying directly, not mining!
 

trance

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Also interested in what gear you are using but I would guesstimate about $2500-$3000k at current prices.

Would need at least 3000 GH/s currently to produce 1 bitcoin per month, which means 4 Butterfly Monachs at $340 each. So effectively double that for one every 2 weeks.

Electricity wise I am not sure, but its a losing situation taking into account the difficulty getting higher and getting less bitcoin each month.
LOLZ 3000 GH/s , you mean 3ghz!
 

Rumsponge

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The machines are efficient; all antminer except for the asictube and asicprisma. But in this case efficiency is irrelevant. Electricity free here.

P.S.
I.M.H.O.
Bitcoin is cheap right now
Doing a quick estimate, I figured it would cost me about $1200 in equipment and about $150/mo in electricity to produce one $250 Bitcoin/mo. So, by the time I covered the cost of the equipment, it would basically be obsolete.
 

Optimator

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Yeah, but doesn't netteller still charge a 3.5% - 3.95% fee per transaction? Might as well stick to CC deposit.

Don't get me wrong, I'm a big Bitcoin advocate. But isn't this just like funding a paypal account using bitcoin and then depositing into your EU account with paypal? No Thanks. (Fook paypal, btw).

Still waiting for the day when MA "directly" accepts BTC via only one middleman like BitPay which charges 0% transaction fee. Baby steps, I guess.

Anyway, Thanks for the heads up, OP.
 

aVaLON_52

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Yup, that's why I was asking earlier about the rate.

On Entropia deposit site it states:
The promotional exchange fee for deposits through NETELLER is 1,7%.
Not entirely sure what that means.. I pay a 1.7% fee?

Bitcoin is less then a penny per transacrion.
So Entropia accepts Neteller for a fee at a certain rate.

Neteller just so happens to accept Bitcoin.
 

Rumsponge

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Exactly.

This option is particularly attractive because it's cheap and you can also use fast PED withdrawal via Neteller provided you have deposited via Neteller previously.
I'm still curious about the "fast withdrawal" via Neteller. Anyone have any experience with this? Can we withdraw to Neteller? Does it go quicker than to a bank?
 
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