Silk Road forums
Discussion => Newbie discussion => Topic started by: thecatinthehat101 on June 27, 2013, 07:05 pm
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Hi all having a real problem with Mtgox and bit instant. I get the feeling I'm not the only one. What service do you use to fund your act on SR? I need ideas please.
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What type of $$$, USD, EUR, GBP?
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I use www.virwox.com for what it's worth...it's fast. There's probably better options.
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I've found that coinbase is really easy and works well. You have to have a usa bank account which is a problem for some. I've made 4 transactions and had no problem.
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many people like for to use the service accepting cash at the bank teller in order to maintain anonymity.
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bump
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bitinstant to bitcoin address has been working for me
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So far I have used Blue Sky Traders every time and never had a problem. Well, not quite true. The problem is that they can't seem to keep enough coins in supply to keep up with the demand. At the moment they have suspended trading until Monday, at which time they will supposedly unveil a new and improved (albeit more expensive) trading platform. We'll see.
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Bitinstant to MtGox is all I have tried, but yesterday I was really confused about it. I still don't know how I got my funds to show up at Mt Gox cuz I entered my Mt Gox account number but not my bitinstant transaction number from CVS, PLUS I did not hit "confirm" to send, yet there were my funds. I was SO nervous and worried something would go wrong and my funds would not show up or transferred but by some miracle it all worked out, lol. On my income, I cannot afford to lose money in this manner. I know of no other way to buy bitcoins.
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I'm new to SR, and just this week used Blue Sky to fund Bitcoins for the first time. I was caught in the middle of one of their hiccups that they talk about on their vendor page. It turned out not to be a big deal, I got my coins about 24 hours later than I normally would have. Still, it freaked me out a little bit since so many people said they got their coins from BST in a hour or so. Nevertheless, they were very upfront with communication, and let me know right away when they had a problem with a replenishment partner and therefore my coins would be delayed. I will be interested to know how their model is changing, and what "higher fees" will be charged. I think I was charged between 3-4%, acceptable right now in the BTC market I suppose.
So going forward, I would use Blue Sky again depending on the changes to their model. Or I might try LocalBitcoins.com, I found a guy locally who'll sell BTC for MtGox Last Price plus 2% on top, pretty good deal I think. Downside, you have to arrange to meet the guy somewhere in a coffee shop (public wifi), and your anonymity is kind of lost in some respects. Blue Sky was simple, BofA didn't ask any questions, just made the deposit and that was it. Of course, more trust is required for Blue Sky since you are fronting money first to receive BTC later, but they told me that too many people actually know who they are and where they are for it ever to turn into some kind of "cash grab".
In Summary, I heartily recommend Blue Sky, although of course we'll have to see what their "new" model is on Monday.
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VirWox, nothing beats it.
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Well they won't take my visa gift card that I went out and bought specially for it. Paypal has to be verified to use that and I don't have a stupid bank account. So they arn't impressing the hell out of me either at this point. You would think that they would take a visa gift card but it just won't work instead I got credit card disabled for 24 hours.
I was looking forward to telling Bit Instant to screw off but they seem just as bad as this point.
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localbitcoins
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BlueSkyTraders, Localbitcoins, TRUSTED BTC Vendors on SR
:)
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VirWox has become pretty useful, but when you're lucky BitInstant is even faster and cheaper I think.
I want to try some of the vendors soon, I bet that goes a lot smoother and cheaper.
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Now, disclaimer as I'm not 100% sure this is completely anonymous - but here is how I've gotten my BTC to the road for well over a year.
https://www.virwox.com/[1] - It is a Second Life (the game) currency exchange. They offer MANY (paypal, wire transfer, etc...) ways to deposit cash into what are called Linden Dollars. This is the currency used in second life. After converting to Linden Dollars you can INSTANTLY transfer to BTC. After that all it takes is withdrawing BTC to your Silk Road Wallet. Entire process takes about an hour - and then your coins are in your wallet.
Let me know if it isn't the most secure form of making BTC deposits... but it has worked excellently for me for well over a year.
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Now, disclaimer as I'm not 100% sure this is completely anonymous - but here is how I've gotten my BTC to the road for well over a year.
https://www.virwox.com/[1] - It is a Second Life (the game) currency exchange. They offer MANY (paypal, wire transfer, etc...) ways to deposit cash into what are called Linden Dollars. This is the currency used in second life. After converting to Linden Dollars you can INSTANTLY transfer to BTC. After that all it takes is withdrawing BTC to your Silk Road Wallet. Entire process takes about an hour - and then your coins are in your wallet.
Let me know if it isn't the most secure form of making BTC deposits... but it has worked excellently for me for well over a year.
I am upset that Bitinstant is down, because I have only learned ONE way to obtain bitcoin, and now I need another and fast. So the above method is that quick? Might have to research that.
And does anyone use local Bitcoin? When you buy the bitcoin from someone local how do you then get it into your account?
I guess it will be good for me to learn another way, but Bitinstant just worked so well for me...so easy, convenient and quick. Ugh.
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I use Virwox and the only drawback to it that I have found is the deposit limits.
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I use Virwox and the only drawback to it that I have found is the deposit limits.
Is it similar to Bitinstant? Does it involve MtGox? Are the limits quite low? I will have to do some research, including finding out if this method is as fast as Bitinstant. I do need an alternative method and soon! :)