Silk Road forums
Discussion => Security => Topic started by: quietgirl79 on November 16, 2012, 11:18 pm
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Okay, so after actually doing the math it seems the rate of fees to get BI->Blockchain(anon)->InstaW->InstaW is much higher than I anticipated. Or there is some skimming somewhere along the way as the anticipated fees were about 6.5% but in actuality seems closer to 10-11%.
Now there is a vendor offering BTC, SR->SR at 10%. This would be "cleaner" as in less middle men but I want to know how safe this is.
I thought that SR->SR would be a bad way to go as the link is all right there. Then again, I know nothing about SR's BTC system besides they are supposed to have some type of internal tumbler system.
So what do you guys think? Assuming I've found a trustworthy vendor, how safe do you guys think the SR->SR BTC route is? It is internal, but I just don't know.
Speculation is welcome, but please only say something with certainty if you are sure of it. Thanks everyone!
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Not sure what your first method is as not sure about the abbreviations. I take that it starts with BitInstant? Then you have three wallets, blockchain.info, and two instawallets??
Well the wallets don't take any fees so you just have BitInstant, but depending where you are and thus what method you use will affect your overall fee. For example, if you are in the USA you have the option of depositing cash at Walmarts, 7/11, CVS etc as well as using bank deposits. You might find this thread helpful:
http://dkn255hz262ypmii.onion/index.php?topic=38633.0 (I have not read it by the way)
But if you are in UK you would be using a bank (NatWest ?? can't remember) so they will take a fee.
Now for the SR route, just because the vendor is on SR doesn't make it internal. And don't confuse the SR coin tumbler with your BTC purchase. The SR coin tumbler applies to all SR purchases so is not relevant to your safety concern. The fact that they are a vendor on SR also makes no difference to your concern about safety. There is no link SR ->SR. But you will have to be careful about buying BTC from a vendor on SR just as you would buying from any other BTC vendor, because it is attractive to scams. Do your research, check their feedback etc just like any other SR purchase.
Finally, you might find the following threads useful:
http://dkn255hz262ypmii.onion/index.php?topic=62808.0 OTC-Complete guide
http://dkn255hz262ypmii.onion/index.php?topic=46692.0 Guide to buying BTC in UK
Hope this helps :) If you need clarification post it here and I'll look out for it or perhaps some other member will help you out
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Not sure what your first method is as not sure about the abbreviations. I take that it starts with BitInstant? Then you have three wallets, blockchain.info, and two instawallets??
Well the wallets don't take any fees so you just have BitInstant, but depending where you are and thus what method you use will affect your overall fee. For example, if you are in the USA you have the option of depositing cash at Walmarts, 7/11, CVS etc as well as using bank deposits. You might find this thread helpful:
http://dkn255hz262ypmii.onion/index.php?topic=38633.0 (I have not read it by the way)
But if you are in UK you would be using a bank (NatWest ?? can't remember) so they will take a fee.
Now for the SR route, just because the vendor is on SR doesn't make it internal. And don't confuse the SR coin tumbler with your BTC purchase. The SR coin tumbler applies to all SR purchases so is not relevant to your safety concern. The fact that they are a vendor on SR also makes no difference to your concern about safety. There is no link SR ->SR. But you will have to be careful about buying BTC from a vendor on SR just as you would buying from any other BTC vendor, because it is attractive to scams. Do your research, check their feedback etc just like any other SR purchase.
Finally, you might find the following threads useful:
http://dkn255hz262ypmii.onion/index.php?topic=62808.0 OTC-Complete guide
http://dkn255hz262ypmii.onion/index.php?topic=46692.0 Guide to buying BTC in UK
Hope this helps :) If you need clarification post it here and I'll look out for it or perhaps some other member will help you out
Hey, thanks for your response! Sorry for coming back to you so late, I've been having trouble with my satellite connection.
You are right about the prior, there are many wallets involved. One of those wallets, blockchain has a function that is supposed to make incoming and outgoing coins anonymous. It costs 1.5% for each inbound and outbound, and I don't know exactly how it protects me but I am hoping it helps. Even though I am small fish I have dependents and would rather take extra precautions to better increase my chances of being able to stay with my family.
There is an additional frustration now with BI has the CVS option absolutely requires an ID, taking that as an option off my list. In addition they've limited funding to $500 so it makes it hard to save money as one becomes forced to buy retail units.
You also make a very good point. With a SR BC vendor, I really have no idea where the coins are coming from. I suppose if I had the know how I could track where they have been as I have read all transactions are public. I was assuming it was SR->SR as one vendor I was speaking to would only transfer to an SR address (not sure how he would know if its SR or not), and it seemed they were selling their coins from the BC they earned from product sales.
I have seen a few names dropped here and there, such as Blue Sky Traders and Sugamomma I think...and I've looked at BST and they seem to have good reviews. I just wish I knew how safe it was and what the potential safety concerns I should be aware of when I'm working with them instead of say BI.
With the BI route I at least have the illusion of safety in the many layers. It takes a long time to do but I hope its worth it.
Thank you for your links as well, I think I've read one of those and will have to check the others out.
Stay safe ya'll,
qg