How to Hang a Punch Bag in my basement?

[TorontoBairn]

I was wondering if anybody can give me any advice on hanging my punch bag up in my basement?
I have just bought the bag and the house and I don't know where to start.
The problem is, I have creak reducing joists in the basement. I am not sure if they will be strong enough to hold the bag.
Please help.

Also as you can probably tell, this is my first bag.
Can anybody give any tips on how to loose some this extra weight that I am carrying?

[Heavy D]

I know you can buy corner brackets that you attach to the studs in your walls at a corner (hence corner bracket), and attach your bag to those. Only problem is that you've only got about 120* of motion around the bag. Otherwise, possibly drill a hole through one of the floor beams, loop the bag chain through, then reinforce that one beam with a 2X4 or something. Won't be very pretty, but there's no reason it shouldnt hold.

[Scrap]

Get some 8" by 1" timber 4 ft long put coach bolts through the timber and screw it through 3 off the beams 2 screws a beam that will do the trick dont make the bag to heavy 80ib will do. A pal of mine did it with a 300 bag now he lives in the cellar with a 17 ft high ceiling