Silk Road forums
Discussion => Newbie discussion => Topic started by: Fallenknight71 on March 25, 2013, 08:38 pm
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Hello all, Im just wondering if anyone knows the easiest way to fund your SR account with bitcoins. I have paypal, credit, etc. But I dont want to pay the damn 50% markup that some of these people are wanting for them. I dont mind a 10% etc markup on the bitcoins. But Im wanting to fund my SR account, and Im wanting the easiest way to do this, because 1. I work all the damn time. 2. I always look for the easiest way to do things. 3. Im getting old and lazy. Simple as that. So, any help would be greatly appreciated. Hell Id even get a moneypak if theres a way to do it with one of those...
Regards,
FallenKnight
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If you're in the US, the easiest way to get bitcoins would be to make a cash deposit to bitfloor, then withdraw the funds to your SR wallet. Make a bitfloor account using a public computer since you can't go on there with tor. You could also check localbitcoins out, and meet with someone to pay him bitcoins in cash (the fee is like 5% usually). For bitfloor the fee is less than 1% and you get a good exchnge rate thanks to tools like "limit order" and stuff. I'd look at the stickied threads in the security section and search for "bitfloor" on the forums to learn more about how to do that. If you're not in the US, use localbitcoins, but don't pay through paypal or something like that, only cash.
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The last few times I needed to fund my account, I used Bitinstant and couldn't have been happier. I even made one BTC purchase from them during the few weeks that the "pay to BTC address" feature on their site was disabled. I made a Bitstamp account and used that option and it was just as easy. After that I read they got hacked, but I don't know if there is any truth to that. Anybody used Bitinstant lately?
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If you're in the US, the easiest way to get bitcoins would be to make a cash deposit to bitfloor, then withdraw the funds to your SR wallet.
What if you don't live in a state that has a bank that does bitfloor deposits?
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If you're in the US, the easiest way to get bitcoins would be to make a cash deposit to bitfloor, then withdraw the funds to your SR wallet.
What if you don't live in a state that has a bank that does bitfloor deposits?
If you're not in the US, use localbitcoins, but don't pay through paypal or something like that, only cash.
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For the first step of converting cash to BTC, I used to use Bitinstant with zero problems. After their recent drama, I switched to Bitfloor which was perhaps even smoother.
Then I tumble the coins a bit using this method:
Withdraw from Bitfloor to clearnet Instawallet
Open Torified local Bitcoin wallet (let me know if you need details on Torifying wallet)
Create a new BTC address in wallet
Send from clearnet Instawallet to Torified local wallet
Send from Torified local wallet to new Instawallet in Tor (not clearnet!)
New Tor ID
Create a new SR BTC address
New Tor ID
Send from Tor Instawallet to SR BTC address
Delete BTC address from local wallet each time
I start a new Tor ID session so that I am not using the same IP to access both the Instawallet and my SR account. This may be overkill, not sure.
Always use PGP for your address!
Enjoy the road.
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That's a really good way to get your bitcoins, it's how Pine said it should be done I think. But bitfloor -> silkroad is safe enough if you use a computer that's not yours and can't be traced to you IMHO. If you're dealing with huge amounts it's better to be on the safe side though.
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Yes, indeed. Pine was a great resource when I first started doing my homework here.
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What if you don't live in a state that has a bank that does bitfloor deposits?
If you're not in the US, use localbitcoins, but don't pay through paypal or something like that, only cash.
I'm in the US, just not in a state that has a bank that's on the Bitfloor list.
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I tried using the moneypak method with BTCpal but he dropped off the face of the planet after I placed my order.
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Based on the information from this thread, am I silly for transferring my BTC deposit straight to my SR wallet?
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Ya me also I think I am silly to do so.
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If your deposit was anonymous, I think transferring directly to your SR address is safe enough. I do the same, based on what other members said. If your deposit was truly anonymous I don't see how it could be traced back to you anyways. Some mistakes could make it easier for your coins to be traced back to you, which is why newbottle's way is better I think. You should request a new SR wallet address each time you make a deposit though.
bogdanlis, you're in a state without any Bank of America? If you really can't use bitfloor, maybe you can use bitinstant (more expensive and more annoying), or maybe just go with localbitcoins...
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After much time lurking I finally made my first bitcoin purchase and deposit today. I used bitcopia and the process was smooth and completed within an hour and a half. They take Wells Fargo so if you live near one than it'll be very easy. Went to their site and completed the purchase order at 2:10 p.m. eastern time (put in the number of coins I wanted to purchase then put in my SR address), copied the checking account number and went over. Got a deposit slip and only had to put down the account number, the cost, and my signature (I signed my name but suppose if you needed to you could use a fake one; no biggie either way as no i.d. was required). It says on the site it could take up to two hours but I got the confirmation e-mail saying my coins were depositied at 3:45 p.m. Extremely simple and if I decide to buy anymore coins it will be from them.
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Assuming one were to make the transfer from BitFloor to SR on a computer that was linked to him, how much does this compromise the whole security thing? In other words, could LE figure out where the bitcoins went? Or does SR's tumbling prevent this? I guess I'm slightly worried that if LE intercepted a package, they could theoretically get the recipient's IP and then see that he bought bitcoins and transferred them to SR. Is this a legitimate concern?
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If the computer is linked to you, LE could know that you bought bitcoins, they won't really bother to look whether or not they've been transferred to an SR wallet or not, they probably don't know all SR wallet addresses. It's still better to buy bitcoins through an anonymous cash deposit and use your own computer and IP than wiring money to a bitcoin exchange site leaving an actual money trail. The main concern is that money trails to bitcoin exchanges + an intercepted package has been enough to obtain a search warrant against someone on here apparently. The guy used his bank account though so there's that.
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Hi, I don't suppose anyone can ink me to our write up here a similar process but for those of us living in the UK? I really don't want to leave a paper trail of my money going into Bitcoin and so far all I have seen is about making a SEPA transfer.
Thanks in advance...
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Assuming one were to make the transfer from BitFloor to SR on a computer that was linked to him, how much does this compromise the whole security thing? In other words, could LE figure out where the bitcoins went? Or does SR's tumbling prevent this? I guess I'm slightly worried that if LE intercepted a package, they could theoretically get the recipient's IP and then see that he bought bitcoins and transferred them to SR. Is this a legitimate concern?
i don't think so because i've been told sr tumbles the coins as well makes no sense to me to tumble them just to have them tumbled again lol..
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And is it ok to buy liberty reserve first and buy bitcoins with it ?
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Well, I have found people selling bitcoins on localbitcoin that are local to me - I guess I will go with this as it seems like a good way to keep my transaction anonymous