Silk Road forums

Discussion => Security => Topic started by: CheapestCocaine on August 01, 2013, 10:19 am

Title: Bank transfer from MtGox to personal bank account?
Post by: CheapestCocaine on August 01, 2013, 10:19 am
What are your opinions on this? It is not at all anonymous, but the origins of the bitcoins cannot be traced specifically to illegal activity..And im not talking huge deposits, just structuring, or "smurfing" a grand at a time
Title: Re: Bank transfer from MtGox to personal bank account?
Post by: jampants on August 01, 2013, 11:10 am
Bad idea if you ask me. The hammer is coming down hard against mtgox by authorities and I have doubts about there liquidity in the long term, that's why they limit withdrawales if it crashs and there is a run to get money out then they would go under.

I doubt they have the money to cover all the coins in their system.
Title: Re: Bank transfer from MtGox to personal bank account?
Post by: Cher on August 01, 2013, 12:16 pm
of all the exchanges to do this with, gox would be the last to consider right now..
although to a personal back account you own, that's silly either way (if the proceeds are in any way grey/black)
Title: Re: Bank transfer from MtGox to personal bank account?
Post by: psil0 on August 01, 2013, 03:27 pm
What are your opinions on this? It is not at all anonymous, but the origins of the bitcoins cannot be traced specifically to illegal activity..And im not talking huge deposits, just structuring, or "smurfing" a grand at a time

Even though BitCoin is legal, it's still deemed suspicious by major banks and law enforcement. I think the best approach is to maintain as little connection to BTC networks and your identity as possible.

To buy/sell BitCoins as if you were currency trading wouldn't be bad, but when $1000's of dollars start mysteriously showing up in your bank account originating from a BTC exchange, stuff might heat up.

If you take this path, remember to pay taxes on your extra income, and of course to have an explanation of where it's coming from. If it's in your bank, the IRS is going to want it's self-entitled cut.

psil0