Silk Road forums

Discussion => Newbie discussion => Topic started by: headshort on August 09, 2013, 09:49 pm

Title: Bitcoins from MTGOX to SR: Green Address, Open Transaction or Fee?
Post by: headshort on August 09, 2013, 09:49 pm
Going to transfer bitcoins from MTGOX to SR and the three choices I have are Green Address, Open Transaction (6 confirmations) or their fee based transfer which they say is faster.

What is the difference between these and what do you recommend I do? Thanks.
Title: Re: Bitcoins from MTGOX to SR: Green Address, Open Transaction or Fee?
Post by: dotgoat on August 10, 2013, 12:09 am
I tested this a while back. I sent one amount to mtgox, waited a couple days then did two transfers back one using green address and one without.  It was a desktop btc app to mt gox and back sorta thing.  First off to explain the three options.  Green address means it comes from "mt gox's account" so to speak.  Idea being someone waiting to get money from you could assume that if it came from that address it came from a legit place.  Open transaction is meant for mt gox to mt gox transactions. Instead of the transaction happening internally on mtgox it goes through the network.  Since you're transferring to SR it's always an open transaction.  The fee, to be honest I've never used a fee anywhere. Guess I'm just cheap. But it's supposed to provide incentive for your transaction to go through faster.  Don't know how much faster.

With the green address it shows that it came from mtgox, click on that link and as of writing there's 39253 transactions from that address.  I tried to find the exact source from that and couldn't

Without using a green address it shows the source of the money came from 4 addresses.  Going through those for a bit and I couldn't find any transactions that I did.  So I didn't get my own bitcoins back to me.

So using green address someone tracing would know it came from mt gox but that's it.  Someone tracing a non green address will have to inspect the chain for a bit.  Personally I'd use the green address just to be sure I don't get my own back.  Key thing to make it harder to trace is to break up the transactions.  Say I want to get 5 bitcoins to SR.  I'd do something like 5  1btc transactions, or just pick a few random amounts.  It makes it easier to trace if you see 4.82 bitcoins travel between a few addresses.
Title: Re: Bitcoins from MTGOX to SR: Green Address, Open Transaction or Fee?
Post by: dotgoat on August 10, 2013, 12:14 am
Also just wanted to say make sure use different addresses each time.  Sending 5 bitcoins over 5 transactions to one address proves nothing.

(shortened versions because it lost my other one)
Title: Re: Bitcoins from MTGOX to SR: Green Address, Open Transaction or Fee?
Post by: dotgoat on August 10, 2013, 12:18 am
(btw I indeed am just whoring your post to up my post count)

You'll see actual coin tumbler services but a lot of people, including me, will just funnel it through mt gox.  Since so many transactions happen there it makes it hard to figure out exactly the source of any of it. Even though I have some money I mined back in the day I never pay people directly from my wallet but through somewhere else first.  Heck you can send it from mt gox to sr to the actual person if you have the patience
Title: Re: Bitcoins from MTGOX to SR: Green Address, Open Transaction or Fee?
Post by: headshort on August 10, 2013, 01:08 am
So to be specific, I can enter my SR wallet address when withdrawing BCs from MTGOX and click the green address box, and the bitcoins will go into my SR wallet?  Do you know the time frames for that?

Thanks.