Silk Road forums

Discussion => Newbie discussion => Topic started by: Asmodean on June 02, 2013, 07:08 pm

Title: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: Asmodean on June 02, 2013, 07:08 pm
I've read about people using a middleman wallet to buy bitcoins for, from which they then transfer coins to their sr wallets.  Does this really add anything more than an illusion of another layer of security?  If it is worth it, any suggestions on the most trustworthy/anonymous wallets out there?
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: tadman1 on June 02, 2013, 07:21 pm
thats what i do, buy my coins transfer to another wallet then to SR. dunno if this is really helping but hey, i'm a paranoid person! buying the coins in the first place is the dodgy bit i recon but even that has to be marginal. still trying to work out the best method for privacy myself
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: Asmodean on June 02, 2013, 07:33 pm
I imagine LE has bigger fish to fry than the occasional recreational buyer but I'm all for anything to make their job harder if they're looking for me  ;).  Which bitcoin wallet do you use?
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: captainjojo on June 02, 2013, 07:43 pm
Yes, I have several wallets running on different machines.  My final wallet, the one I use to send to SR, is running over TOR.  I send from wherever I buy BTC to my first wallet, then to the wallet running over TOR then to SR.
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: killerblackman on June 02, 2013, 07:53 pm
I don't personally send my bitcoins to several different wallets; however, sometimes I pay an extra fee to send my coins through a tumbler. I believe this does virtually the same thing, sending coins through many different destinations until the final is reached, someone please correct me if I'm wrong.
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: captainjojo on June 02, 2013, 08:17 pm
I think it depends on when you use the tumbler.  My understanding is that SR also uses a tumbler for all its BTC. 

If you buy your BTC anonymously and send them through a tumbler after the purchase and from the tumbler to your own wallet, they should have been mixed around enough that they cannot be tracked.  Then you can transfer it from your wallet (make sure your wallet is running over TOR) to SR, at which point they should be able to associate it with you so long as they don't have access to your computer.  By running your wallet over the TOR network the BTC transaction will never be associated with your actual IP address.
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: tadman1 on June 02, 2013, 09:12 pm
another good piece of advice there Captinjojo :) cheers
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: SmashBros on June 02, 2013, 09:43 pm
According to SR it is meant to have a tumbler built in so it shouldn't really matter but however I do it that way just to be safe.
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: snuskhummern on June 02, 2013, 10:53 pm
Ok,

So I've not placed any orders yet, just feel I need to know the basics (as in REAL basics) before I do.

If I use a tumbler, tored wallet, and so on (as you guys described above), do I really need to buy my bitcoins anonymously? I've found what I think is a good domestic (swedish) site for buying bitcoins, and I'm seriously thinkin about buying the BCs with money from my usual internet-bank. Am I completely insane? :/
If I use all the methods you guys described, combined with SRs own tumbling (and ordering the package to another address than my own), how safe am I? All they can see is just that I've bought BCs, which in itself is completely legit?
Or should I find ways to buy it anonymously? If there is no real reason for it, I don't see why I should go through the trouble

Maybe I'm newbie-stupid, and if I am I need to know it before I end up doing something stupid ;)
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: bitcointrader55 on June 02, 2013, 10:59 pm
thanks alot
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: RobLoblaw on June 02, 2013, 11:07 pm
Ok,

So I've not placed any orders yet, just feel I need to know the basics (as in REAL basics) before I do.

If I use a tumbler, tored wallet, and so on (as you guys described above), do I really need to buy my bitcoins anonymously? I've found what I think is a good domestic (swedish) site for buying bitcoins, and I'm seriously thinkin about buying the BCs with money from my usual internet-bank. Am I completely insane? :/
If I use all the methods you guys described, combined with SRs own tumbling (and ordering the package to another address than my own), how safe am I? All they can see is just that I've bought BCs, which in itself is completely legit?
Or should I find ways to buy it anonymously? If there is no real reason for it, I don't see why I should go through the trouble

Maybe I'm newbie-stupid, and if I am I need to know it before I end up doing something stupid ;)

if you use a tumbler/wallet you can buy coins in your name. i think thats the whole point of them. if SR becomes compromised they would only be able to trace the coins back to your wallet and no further. access your wallet through tor and dont put any information about yourself in it if its an option when you sign up. if your buying your coins anonymously with cash from a bitcoin miner then obviously it couldnt be traced back to you anyways. a lot of miners wont send coins to SR tho so you have to go through a wallet anyways.
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: snuskhummern on June 02, 2013, 11:15 pm
if you use a tumbler/wallet you can buy coins in your name. i think thats the whole point of them. if SR becomes compromised they would only be able to trace the coins back to your wallet and no further. access your wallet through tor and dont put any information about yourself in it if its an option when you sign up. if your buying your coins anonymously with cash from a bitcoin miner then obviously it couldnt be traced back to you anyways. a lot of miners wont send coins to SR tho so you have to go through a wallet anyways.
Great, thanks!

Onto next question then... what's the best wallets and tumblers?
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: RobLoblaw on June 02, 2013, 11:38 pm
i use blockchain. it seems to be a very popular wallet and has worked great for all my wheeling and dealings
i have never used a tumbler before but i have seen people talking about bitcoin fog. it makes your coins virtually impossible to trace. from what i understand you deposit your coins into a pool of coins and then from there they send your coins to SR. they dont do it all in one transfer, they make multiple random transfers of different amounts at different times. so when the total amount final reaches SR theres no trace of the original coin numbers, its all just random coins from the pool. im sure this service costs money and probably takes a lot longer to get your coins but if you have the time and are worried about security it looks pretty solid
always research, read reviews and ask questions about bitcoin services. anyone can set up a website. make sure its legit and peoples are using it successfully before you try it out
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: Asmodean on June 03, 2013, 12:21 am
Cool, I never knew about the tumblers but I think I'll look into that, thanks!
Title: Re: Does anyone here use a secondary bitcoin wallet for an extra layer of security?
Post by: snuskhummern on June 03, 2013, 01:43 pm
i use blockchain. it seems to be a very popular wallet and has worked great for all my wheeling and dealings
Thanks for the tip. I've registered a wallet there now. But it's online only, and I can't login using Tor. How safe is it? :/

Anyway, thanks for fast and informative replies so far!