Silk Road forums

Discussion => Shipping => Topic started by: juswannaschmoke on July 10, 2013, 09:25 pm

Title: Is Bitinstant still safe ?
Post by: juswannaschmoke on July 10, 2013, 09:25 pm
I came to the road a few months ago and BitInstant Cash deposit made me feel safe because I could use a bogus name and address to purchase my bitcoins. I know it wasn't totally anonymous but I buy for personal use and figured the fuzz wouldn't worry about a couple hundred dollar bitcoin transactions from time to time.

Noe bitcoin is requiring a log in, forcing me to give some personal information, then to confirm my account they asked me three personal questions, like a credit check ie What month was my sister born...how the fuck did they know her name and birth month?

I want to purchase my coins asap and am getting nervous about completing the transaction. I will have my coins sent to an email address, then to a blockchain, then to my SR wallet, then I will change my wallet address.

Will the aforementioned measures keep me relatively safe? My supply is running low and I juswannaschmoke some oil and wax

Thanks in advance for the info
Title: Re: Is Bitinstant still safe ?
Post by: juswannaschmoke on July 10, 2013, 10:19 pm
Just a Bump
Title: Re: Is Bitinstant still safe ?
Post by: phalNOP on July 10, 2013, 10:48 pm
Noe bitcoin is requiring a log in, forcing me to give some personal information, then to confirm my account they asked me three personal questions, like a credit check ie What month was my sister born...how the fuck did they know her name and birth month?

Pretty common for financial transactions to access credit databases based on the info you give them (social, birthdate etc) to ask you questions that only you should know like what streets have you lived on 10 years ago etc...

Title: Re: Is Bitinstant still safe ?
Post by: ilovesrdrugs on July 10, 2013, 11:02 pm
Pretty sure Bitinstant is still safe unless you are spending redic amounts. I think the main issue with bit instant is 500 dollar cap per transaction.

Right now with all the BTC trading I cant imagine 2-3 transactions being a huge issue but if you were doing $500 a day might raise some flags.

Aside from when I used Blue sky traders & BTC King I never felt my ID was safe buying BTC, hell.. even than cameras got your car at the bank.

Buying bit coins isnt illegal, just keep making new wallets & bouncing them around and you should be fine.

Someone much smarter than me confirm/deny please?
Title: Re: Is Bitinstant still safe ?
Post by: Quazee on July 10, 2013, 11:17 pm
Hmm yah they aren't really that safe now. It doesn't allow bitcoin to email anymore for some reason. says you have to be a guest to do that but there is no option to be a guest.

If they are asking for info like you op is saying that which actually taps info federal data...kinda scary. The only way they are still open is by cooperating with authorities since you have to be signed up as a money transmitter to legally sell bitcoins now.
Title: Re: Is Bitinstant still safe ?
Post by: fuckoff25 on July 11, 2013, 06:47 pm
So, can anyone recomend a new secure way of obtaining BTC without being bent over on fee's?
Title: Re: Is Bitinstant still safe ?
Post by: Miah on July 12, 2013, 07:53 am
So, can anyone recomend a new secure way of obtaining BTC without being bent over on fee's?

Whoever comes up with and makes a solution to that problem will be richer than they could ever have imaganied.  I just found a new service/currency/coins exchanger today called Ripple. It's still in Beta and u need an invite but it looks promising. From reading the info on their site it's a decentralized currency exchanger and has it's own currency called Ripple. I think that's the only way to get over this Bitcoin hurdle that's been thrown in all of our ways. Vendors and buyers are suffering from this.

The only solution is a decentralized currency exchanger or multiple forms of digital currency that can be exchanged. transfered, bought and sold. It's just way too easy for Fincen to clamp down on Bitcoin with their regulations but with multiple digital currencies on a decentralized network. That's the only way forward.

To your orginal question. Yes Bitinstant is safe. They have to follow the 'know your customer' rule as they are now legally a money transmitter. It's what you do with the Bitcoins after that comes into question. Still for buyers that purchase less than $500 and not every day then I wouldn't be too worried. To be honest right now there's not a lot of options. There's a few but it's like would you rather give up some personal info for your coins or pay up the ass in fees sending a vendor a Money Pak?