Silk Road forums

Discussion => Security => Topic started by: boniface1100 on April 03, 2012, 12:47 am

Title: BTC Fees
Post by: boniface1100 on April 03, 2012, 12:47 am
OK now I know what I dont know so I know what to ask- How many times are fees charged thru one of these transactions? For example, say I use BTC King, the SR in-house? They say they wanT $6 to sign up and then 6 percent. Is that right? How does thid compare to using Bitinstant and Mtgox? BTinstant maybe wants a small fee, but what does MTGox charge? Last time I used Bitcoinme and wound up paying@$6 per BTC- at a time when the MTGOX site showed @$4.70. Nobody seems to be very clear about who's taking what.
     Bitcoinme said they went by the "floor price". Are BTC traded on a trading floor?
     I emailed back and asked how I could monitor the "floor Price" so as to know when to buy. No response.
     So can I actually buy BTC for the price shown on MTGox, and what fees are rolled on top of that?
Title: Re: BTC Fees
Post by: patron420 on April 03, 2012, 01:06 am
Every person you deal with is going to have different terms for there btc. some people will have deposits, there exchange fee (i.e. their cut) will differ. Bigger btc purchases give cheaper rates. Then what I think is the biggest factor of all. The anonymity factor is the most costly fee. You can get btc for the going rate using mt gox or other legit btc funding source. The more traceable to you it is, the cheaper the fees.

Your paying to remain anonymous. Remember we are essentially money laundering like a mother fucker here. Some people here don't give a shit, & link there bank account to mt gox & access it live from there home ip & have there bank account linked & pay for btc directly from it. This is not wise when your moving $1000s. Then your moneypaks, no id bank xfers, wu/mg xfer's are the most anonymous.

Honestly the moneypaks do cost a pretty penny to get people to convert them to btc. But I think it's worth the anonymity. WU/MG require filling out forms with your name info, being on camera, & having the person on the other end show id. With bank xfer to btc sellers accts I PERSONALLY don't feel comfortable walking into a bank with $1000s in cash & telling them i need to deposit it to some random bank account for no reason with no questions asked & them not think somethings sketch. However, thousands of people buy moneypaks at stores all across the nation & loading $1000 at a time isn't too suspicious. Just make a few trips to a few different stores. Now cashing out a mp is sketch to me, however being a buyer i don't give a crap how the vendors cash out $1000s worth of moneypaks, but it works & i get my btc & that's all i'm happy about.