Silk Road forums
Discussion => Security => Topic started by: emerald on December 29, 2011, 01:16 am
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I'm not retarded, I'm not lazy, but I'm also not from the USA, and it seems like the only reasonable ways to go are these walmart moneypacks and mailing cash, and it seems that many people on here cannot fathom the thought of someone living outside of the US of A.
So here's the deal: I'm in the Netherlands and I want bitcoin. I can't get moneypacks or send cash across the atlantic only to have its value in bitcoin crash before I get it, not to speak of all the risks that it would entail. I don't even have a credit card; no, we don't really use those over here.
First question: Any Dutch people who have had success acquiring bitcoin?
Two options come to mind:
1. Paypal to bitcoin
2. Bank transfer to bitcoin
Obviously these aren't very secure or low-risk, or widely used for that matter. Still, I might have overlooked a trusted service. I saw one guy doing EU bank transfer to bitcoin here, but I'm pretty sure it's a scammer.
Second question: What are the exact risks of bank transfer? For bitcoin as well as for the product directly? I have found a reliable vendor outside of SR that directly accepts bank transfer. I understand the risks are for the buyer. Same for paypal, though I would think it to be similar.
Please know that I have done my research, very thoroughly. Any thoughts appreciated.
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Does the Netherlands not have Western Unions? That is how I do it.
Western Union (Cash) -> exchanger (http://wm-center.com/) -> bit coin
It isn't to cheap but it is anonymous, or at least here.
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One option would be to buy Ukash vouchers with cash. You can get them at Primera stores, petrol stations and many other places in NL. Check www.ukash.com for more information. Several vendors on SR will exchange them for bitcoins. However, keep in mind that there's always a risk of getting scammed, as these transactions are done outside of escrow. Personally I'd recommend DRamsterdam, but he's away on holiday until January 5th.
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use bitmarket.eu to buy coins from other users using wire transfer
or get VISA or MasterCard, register in Paxum and use CC to Paxum to fund your mtgox account. Easy and cheap.
The ways to buy bitcoins are not so clear or obvious, but after spending one day and looking to options, there are numerous ways to buy bitcoins.
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Fastcat and others, thanks so much for your replies, that's the information I was hoping for. Thanks again!
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hi mate, there are guys on the silk road offering to exchange ukash - bitcoin? is this an option for you?
wu - bitcoin should work as well... best - buy a loaded lr acc. with usd?!
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Emerald I'm Dutch too. I had great experiences with bitmarket.eu. Met some nice people there who I now even trade directly with through the IRC channel #bitcoin-otc.
For small amounts buying/selling BTC with (SEPA) banktransfers be aware not to use any transfer code etc that refer to BTC trading. Paypal is too dangerous. My experience is that professional BTC traders don't use it. Paypal doesn't allow trading BTC. Your Paypal account can be blocked when it is suspected you use it for BTC trading.
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mtgox also doesn't accept paypal - look here:
https://support.mtgox.com/entries/20490576-frequently-asked-questions
also look at this link:
https://en.bitcoin.it/wiki/PayPal
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Emerald I'm Dutch too. I had great experiences with bitmarket.eu. Met some nice people there who I now even trade directly with through the IRC channel #bitcoin-otc.
For small amounts buying/selling BTC with (SEPA) banktransfers be aware not to use any transfer code etc that refer to BTC trading. Paypal is too dangerous. My experience is that professional BTC traders don't use it. Paypal doesn't allow trading BTC. Your Paypal account can be blocked when it is suspected you use it for BTC trading.
Hey, thanks for your response. I have a few questions if you don't mind. Do you mean no mention of btc in the description of the transaction? I had gathered that much ;)
How would you suggest clearing the account verification?
Would it be safer to go domestic transfer only? And if it doesn't matter, should I prefer SEPA over foreign transfer?
And when your bank transfer is confirmed, can you send the bitcoins in escrow to your SR address directly, and would it be safe to do so, or would I have to grapple with tumblers and dedicated wallets and such? i.e. do you think these people (bitmarket) can be trusted to keep the info on where I send it secure?
@imprint, about the ukash; so how does that work? You buy the voucher and on it is a serial that you would just send by mail or something? Something like that would be difficult to keep in escrow I guess. So it can't go via SR, and therefore doesn't seem very secure to me. Also, how are these vouchers redeemed? What I mean to ask is, what incentive does the bitcoin seller have to take these for it?
Apologies for the many questions all, I hope other people get something out of it as well.
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Hey, thanks for your response. I have a few questions if you don't mind. Do you mean no mention of btc in the description of the transaction? I had gathered that much ;)
Yup only the code that is necessary for the receiver to identify your payment
How would you suggest clearing the account verification?
You could use an ebay with good feedback (if you have one and feel this doesn't compromise your privacy in any way). Otherwise i;m not sure what the current policies from bitmarket.eu are....
Would it be safer to go domestic transfer only? And if it doesn't matter, should I prefer SEPA over foreign transfer?
I only deal with domestic or SEPA transfer because this doesn't cost anything extra. And its faster compared to foreign non SEPA transfers
And when your bank transfer is confirmed, can you send the bitcoins in escrow to your SR address directly, and would it be safe to do so, or would I have to grapple with tumblers and dedicated wallets and such? i.e. do you think these people (bitmarket) can be trusted to keep the info on where I send it secure?
Yes when you pay the seller, you first receive the btc's in your wallet on bitmarket.eu and then can send your btc direct (or via another wallet / transfer point) to SR. Be aware that every BTC transfer is registered. (see https://blockexplorer.com/). Up to you to transfer directly to/from SR or not.
Bitmarket has a good reputation. Check sites like bitcointalk.org. The people behind bitmarket are active on these boards. I don't deal in large quantities of BTC if you do betting on one horse is not smart. If so, use several trading boards.
Succes! ;)
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Intersango > EU Bank Transfer. Job done.
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I would imagine if you live in the netherlands that you have access to all the stuff on SR already only at a lower price lol.
But neways, you can do a bank transfer but just remember no matter what anyone tells you a bank transfer cannot be reversed.