Silk Road forums
Discussion => Security => Topic started by: DaTherapist on September 23, 2013, 03:43 pm
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I use coinbase to fund my SR account with BTC. What is the most secure way of turning SR Bitcoin into cash?
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You've got lots of options.
You can use LocalBitcoins to meet someone in person, use SR vendors to get cash in the mail, or any of the other dozen or so options that you can find on this forum.
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Any reputable SR vendors you recommend for cash in the mail usa?
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I wouldn't go off personal recommendations. What I'd do is go to the SR, go to the money section, and sort by highest ranking (or rating - whatever they call it) and look that way. You'll find guys who've done dozens if not hundreds of transactions and have a 5.0 rating. Those would be the people I'd go with.
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The most secure way to turn BTC into cash you might find here will be far less secure than other options you may find if you do some due diligence... Those SR money vendors charge around $1200 to get $1000 cash out... Not the best option out there for turning money around...
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Thanks for the feedback guys. Though I still am confused as to how I am going to go about converting my BTC to cash. After seeing that thread from the guy who lost 1269 BTC (150k), I would like to transfer my BTC to cash as fast as possible whenever possible!
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One option that hasn't been mentioned, which may or may not work for you, is purchasing products on SR that you can easily convert to cash in your local market. It's not ideal in that some amount of interaction with a local market is required, but it does seem a safe route that ensures no unintended interaction with law enforcement
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Seriously are there any ways that you don't get f*&*^ over on fees?
I just found a low ~2% way to do it. Filled in the form then they say they don't cash out to my bank account because of anti-money laundering. Then I keep finding exchanges that have now closed down or stopped sell payouts or require a heap of documentation and I don't even have a passport anyway!!
Seriously there needs to be an easier way. I just need to cash out to a 'certain' bank account that I have set up so it is totally anonymous.
WHY so EASY to buy BTC but HARD to sell!
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The BTC economy has changed significantly in this calendar year. Just think: in January, Dwolla and MtGox could be used to move money, now both are rubbish... BitInstant was around as a quick fix for many, now it's toast. It's become exceedingly difficult to intermingle BTC and USD, and is probably advisable to not leave any trace of BTC transactions associated with a US financial institution because who knows when/if it could come back to sting you ...
That said, there are a lot of 'services' out there. localbitcoins seems relatively good if your location has an active community. If not, well, that's a little more difficult
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The BTC economy has changed significantly in this calendar year. Just think: in January, Dwolla and MtGox could be used to move money, now both are rubbish... BitInstant was around as a quick fix for many, now it's toast. It's become exceedingly difficult to intermingle BTC and USD, and is probably advisable to not leave any trace of BTC transactions associated with a US financial institution because who knows when/if it could come back to sting you ...
That said, there are a lot of 'services' out there. localbitcoins seems relatively good if your location has an active community. If not, well, that's a little more difficult
If you use coinbase and link your BTC to a bank account, and use an anonymizer like bitcoinfog, doesnt that cover your ass? Since you were just using the BTC to purchase stones, jewelry and artwork from overseas?
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Check me out brudda lota references
http://silkroadvb5piz3r.onion/silkroad/user/131f4672fd
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The BTC economy has changed significantly in this calendar year. Just think: in January, Dwolla and MtGox could be used to move money, now both are rubbish... BitInstant was around as a quick fix for many, now it's toast. It's become exceedingly difficult to intermingle BTC and USD, and is probably advisable to not leave any trace of BTC transactions associated with a US financial institution because who knows when/if it could come back to sting you ...
That said, there are a lot of 'services' out there. localbitcoins seems relatively good if your location has an active community. If not, well, that's a little more difficult
If you use coinbase and link your BTC to a bank account, and use an anonymizer like bitcoinfog, doesnt that cover your ass? Since you were just using the BTC to purchase stones, jewelry and artwork from overseas?
Plausible deniability is not the security method we want to rely on. The way things have been playing out with the USA bank regulators and BTC, we fear a future is drawing near where the USA government declares that no BTC transactions have any possibility of being considered innocuous. If we knew what was going to happen with Dwolla and MtGox, we would have never interacted with them. We do not want to do anything to further associate any bank accounts of ours with BTC transactions.
Spreading FUD works relatively well when you have the full force of the law behind you, unfortunately for us...
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Is there a way to do this without linking a bank account. i would much rather stay 100% anon:)
much love_mcrad!
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Is there a way to do this without linking a bank account. i would much rather stay 100% anon:)
much love_mcrad!
^^ What he said