Silk Road forums
Discussion => Newbie discussion => Topic started by: Deilvsdog on August 09, 2013, 12:16 pm
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Ok,
I get that everyone accepted bitcoins. The issue I am having is converting my real life cash into bitcoins. I think I found a legit site/forum who can do this for me but then what happens? I have a program called Multibit. I guess the persons would send the bitcoins to my "wallet"? I know I keep hearing things about escrow. Not sure if that is something I am should be concerned about it or not? I am trying to figure all this stuff about because this is seems to be the best way to go now. Back in the day we would have small communities of forums that sold and would just use moneypaks/WU/MG things like that. I understand that that using bitcoins is most likely fair safer or more anonymous but it's a bit much for a noob to figure out. Would appreciate some guidance.
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In some cases sellers may accept alternatives to BTC, but probably only after you have developed a solid reputation/rating.
First you acquire the BTC, from the sounds of what you have posted it seems you'll be buying them from a normal web site. This is fine and many people do it this way. You can buy them with WU, bank transfers, etc, but many sites now require photo ID to register. Once you are registered you go to the buying section of the site, select a seller of BTC and your payment method (different sellers will have different prices and accept different methods of payment). Then you place an order for the BTC, pay, and recieve them either into a wallet on the site or your own alternative wallet. Many people prefer at this point to 'tumble' the BTC through some other wallets to clean up the trail a bit. Then you transfer them to your SR wallet on the SR servers. You wait for them to go into your SR account and then place an order for your drugs/other product/service. This whole time, BTC can take up to several hours to transfer between any two wallets, so do it all in advance of needing it and account for fluctuation in the exchange rate/price of items.
Now your order is placed and you've sent your address to the seller (hopefully encrypted, you can find threads about how to do that). All you do is wait for the item. Some people may want you to FE and send the finalization of the payment before they ship the product, but it is discouraged and officially not permitted. When the product arrives, finalize the payment and leave some feedback. Sellers also appreciate forum reviews of their products if you really like them, or I suppose buyers would appreciate knowing if the seller was not very good.
The hard part is waiting for the postman.
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Hey friend..... Hopefully this helps, Bitcoins are the top choice for anonymous currency. Not only can you easily buy them without giving out any personal or identifying information or any information that leads to your location, also you can change the "address" of your bitcoin wallet whenever you'd like while keeping the same wallet therefore making tracing bitcoins very difficult. But you can cash out just as anonymously if you are a vendor accepting bitcoins for payment. Localbitcoins.com is the best place to get bitcoins (in the US....as for other countries there are others here far more suited to answer that question) you can open an account anonymously and can buy bitcoins through vendors there almost instantly using cash deposits at your local bank of america, chase or citibank branches. You can also buy them on that site instantly using moneygram or paypal (you can even use your credit card for those two payment options) for a little extra cost. You'll be given a wallet at localbitcoins.com and you also have a wallet through your SR marketplace account. That's the little tab when you log in at the top that says account. What i suggest is using localbitcoins.com to buy your bitcoins then send them through bitfog before you send them to your SR wallet also request a new address for your wallet each time before you send money to it you'll get your new address instantly (you can find the address for your SR wallet once again under the account tab). Once your coins are in your wallet on the SR marketplace you can now place an order for some goodies. When you place an order instead or your coins being sent straight to the vendor they are sent to a mediation account or "escrow" basically what this means is the coins you using for that purchase are help by SR as a third party until you confirm on your order page that you have received your package and click on finalize. once you click finalize the coins are then released from escrow and given to the vendor. Escrow is just a system put in place to keep everyone safe and secure from scammers. That's why you here all over the boards to never FE. FE means finalizing early. that means you click on finalize before you receive your packages so your coins are sent straight to the vendor. By doing this you are giving away the only protection and chance you had at a refund if something goes wrong. I hope this helped and cleared up some confusion let me know if you have any other questions
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in my experience, they send it to your wallet, you sent it to your SR addy from your wallet. tadda, took me a little brainpower too though, i found i got the best deal in cash through mail, just make sure good stats, for paying in western union in a pickle/quickle Im copyrighting that Quickle C jescowhite2013 done! sorry for that, wake n zannied, anyway a guy named josh was very helpful in helping me make my first purchase of coins back when i was a wee bitty buyer, which i still am on the side, lol, and if i ever needed coins id go to josh. Im thinking of eventually making selling coins my way of cashing my coins, hmmm, sounds like it could be a good idea if not already the main way, oh and about escrow, they hold it in escrow, meaning noone can fuck with it till the transactions complete, you send them money whatever way, you mark paid, ur payment is held in escrow till user collects there cash then they have to release it within a certain time period, hope i was helpful l8~