Silk Road forums

Discussion => Security => Topic started by: Mcrad on July 11, 2013, 08:56 am

Title: Paypal to Viriwox to BTC
Post by: Mcrad on July 11, 2013, 08:56 am
Does anyone have any experince in this? let me know about your transaction experience 8)


much love_mcrad!
Title: Re: Paypal to Viriwox to BTC
Post by: CLUBMDNATE on July 11, 2013, 09:18 am
Hey,

I used it once. Even though the transaction itself was easy and fast, it's total bullshit, because from VirWox you can only buy whole Bitcoins (at least it was like that a year ago).
So if you let's say buy 10k linden dollars for your money, and 1 btc is worth 4k linden dollars, you can only buy 2 bitcoins and you are going to sit on the rest of your linden dollars. (The numbers are probably totally wrong, but you should get the problem).

cheers
Title: Re: Paypal to Viriwox to BTC
Post by: Oneyedwilly on July 11, 2013, 10:21 am
its ok!

they no longer require to transfer into whole BTC!

the main issue is the fees and restricted deposits **BUT** these do relax and get much better the more you use the service.

also the best way to make a transfer is to use the 'limit price' rather then 'market price' in order to get preferable exchange rates.
Title: Re: Paypal to Viriwox to BTC
Post by: Oneyedwilly on July 11, 2013, 10:23 am
i also forgot to mention - the first transaction or two will need to be authorised manually, so expect to wait 48 hours before you get your BTC! after that though its a very fast and efficient service that gets cheaper the longer you use it.
Title: Re: Paypal to Viriwox to BTC
Post by: GlenRunciter on July 11, 2013, 01:12 pm
The transactions fees are a pain in the ass....you get dinged 4 times I think:  1. Fee from Depositing Paypal $$ into your Virwox account 2. Transaction fee exchanging $$ into Linden Dollars  3.  Transaction fee exchanging Linden Dollars into BTC  4. Finally, a .01 BTC fee to Virwox when you withdraw your Bitcoins to your SR wallet

I haven't added up all of that yet, but I should...it's probably 10-12% 

Your first two Virwox withdrawals are subject to a 48 hour manual verification hold which is really annoying so plan ahead before ordering .....

Other than those annoyances, I find it very fast...very convenient, and it has been the only BTC exchange I've used.....(the convenience factor may justify the high transaction fees.)

Cheers...... 8)
Title: Re: Paypal to Viriwox to BTC
Post by: DV82 on July 12, 2013, 04:38 pm
i cant agree more.  i first used virwox for 2 separate btc transactions.  took 48 hours and a lot of xtra fees
Title: Re: Paypal to Viriwox to BTC
Post by: Mcrad on July 12, 2013, 07:50 pm
Not planning on using this method now that everyones told me about their brutal fee's

I talked to DomesticDrops. he's a coin vendor. anyone have any reviews on him?
Title: Re: Paypal to Viriwox to BTC
Post by: goblin on July 12, 2013, 09:34 pm
The transactions fees are a pain in the ass....you get dinged 4 times I think:  1. Fee from Depositing Paypal $$ into your Virwox account 2. Transaction fee exchanging $$ into Linden Dollars  3.  Transaction fee exchanging Linden Dollars into BTC  4. Finally, a .01 BTC fee to Virwox when you withdraw your Bitcoins to your SR wallet
Obviously that idiotic "linden" dollar thing they just invented as a way to charge an extra fee. That's so utterly transparent and fucking greedy.

Why else would they invent a ridiculous new "currency" that's only used in their exchange; well, maybe you can trade them on other exchanges but the point is, why noy just stick with regular dollars, or euros or whatever?
Title: Re: Paypal to Viriwox to BTC
Post by: GlenRunciter on July 12, 2013, 09:54 pm
I know it's ridiculous.   -Supposedly- Linden dollars are used in some virtual "Sim-City" like video game for people with too much time on their hands.  Allegedly Linden Dollars predated the Bitcoin as currency in some virtual world these people live in b/c their own lives are pathetically banal.   I don't know........"Second Life" they call it.   Beyond my scope, I guess.  Whatever it is, the creators of "Second Life" figured out a way to make some extra money off people needing Bitcoins to get to their own separate, virtual world here on Silk Road .......heh.  I guess they are the smart ones....   ::)