Silk Road forums
Discussion => Newbie discussion => Topic started by: bogdanlis on April 02, 2013, 11:12 pm
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Alle,
Does anyone use Dwolla and MtGox to get their funds to SR? Is it safe? It looks like its pretty cost efficient. I'd appreciate anyone's thoughts.
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This is a common way to get coins, but I'd advise against it. When I joined this place I spent months reading stickies and many posts.
The reason why this is not good for SR users is because you are using Dwolla. To use Dwolla you are transferring funds from a bank account! This will compromise your anonymity. If someone really wanted to they could trace the bitcoin purchase all the way to your bank account. Bitcoins are not automatically anonymous.
From recent reading on the security form people have been having really good luck with this scheme, I have not used it myself yet.
Obtain Cash---->Do a cash deposit to Bitfloor (using a wallet that is not your SR wallet)------>When coins are in wallet send them through a coin tumbler (bitcoinfog or blockchain info mixer) to another wallet (this help to anonyomize your coins)------send to SR wallet.
It might help to send the coins through a few more coin tumblers.
Here is the block chain info mixer address: https://blockchain.info/wallet/send-shared
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What is the downside to buying bitcoins by whatever method (bank transfer) and then laundering them through Bitfog on their way to SR? Particularly for a retail customer (as opposed to a major dealer) it would seem like that would anonymize the coins in your SR wallet. It''s not against the law to buy bitcoins, and no one can make you say where the ones you bought went. If they can't connect the bitcoins that were used on SR with you, then where's the danger? Just asking - anyone have input?
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If you're just buying small personal amounts, then don't worry about it. It's going to take you getting prosecuted and some heavy charges for distribution etc for them to waste their time tracing bitcoins. If you're buy large amounts, then no, I wouldn't touch Dwolla or anything that requires personal verification.
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This is a common way to get coins, but I'd advise against it. When I joined this place I spent months reading stickies and many posts.
Obtain Cash---->Do a cash deposit to Bitfloor (using a wallet that is not your SR wallet)------>When coins are in wallet send them through a coin tumbler (bitcoinfog or blockchain info mixer) to another wallet (this help to anonyomize your coins)------send to SR wallet.
Icon,
That would be great if I had a place to deposit cash to bitfloor in my part of the US (BOA), but I don't. So what are the other options where I don't have to pay huge fees?
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I wanted to make a quick statement to the people who's replies followed mine. For all of those people who say "the quantities are too small, its fine," or LE won't go through the trouble of decoding the blockchain, you people are lying to yourselves to justify your laziness. That was pretty harsh but that is the truth.
Only very stupid people think the police are stupid.
I'm sure that LE is very very interested in SR and BTC. The last article I read about the Australian police finding a guy's package in the post and making the bust had commentary from the American FBI stating that it was a high priority target. Like I said earlier BTC is not automatically anonymous, the block chain contains the info. If the blockchain were ever decoded it would reveal a purchase history from Dwolla all the way to SR, if SR was compromised.
to bogdanlis Here are some other options: (I've only done the cash deposits to bitinstant, judging from what people are saying about bitinstant its sounds a bit sketch, like some people don't get their money.)
Take the hit and buy from sugarmama he/she sells BTC. He/She is expensive for anything over $100 USD.
Make a cash deposit at Wells Fargo to Bitcopia then to your wallet then through a tumbler/mixer then to SR wallet.
We were using cash deposits at any CVS, 7/11, Walmart, Moneygram to Bitinstant but bitinstant has be fucking up recently.
I learned a lot from reading sleepyeyes2k2's posts this guy claims he was former LEO. He definable has the knowledge so even if he wasn't this dude knows a lot.
Here is a link to an interesting thread. Hes post num 55. Has a lot of good advice about protecting yourself.
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Whoops forgot to post the link to that thread: http://dkn255hz262ypmii.onion/index.php?topic=122528.msg934931#msg934931