Silk Road forums

Discussion => Security => Topic started by: hunter.s.thompson on April 15, 2012, 08:44 am

Title: What's the most anonymous way to buy bitcoins in the US?
Post by: hunter.s.thompson on April 15, 2012, 08:44 am
Since I've read that the FBI are investigating Bitcoin and SR I was wondering...
Just how dangerous is it to buy bitcoins by transferring funds directly from my personal checking account to Dwolla, sending the money to Mtgox and then buying bitcoins and sending them directly to SR?
I've read through these forums enough to get a lot of mixed messages on this.
If I send them to a mixer service, then that makes it pretty obvious that I'm trying to hide something, right? I've read in these forums the opinion that the act of mixing bitcoins is in itself an act of money laundering.
If I send it from my bank account, then it is simple for the authorities to trace the funds, Am I wrong?
I've only moved a few hundred so far, so I think the coppers would skip over me and focus on bigger fish, but I can't help but worry.
I'm interested in using Bitinstant to convert cash to bitcoins, but my question is: Wouldn't they ask for identification when depositing the cash at the bank?
I've also read in here about using prepaid credit cards to buy bitcoins, but is there a trail that way, and what service do I use to convert the CC to BTC? I've seen here buybitcoin.com. Is that safe enough? Is it anonymous?
Preferably, I don't want to end up paying more than 5% in fees, but it's undoubtedly better than risking ending up in prison.
What do you people think? What's the method that is the most anonymous without paying ridiculous fees?
Title: Re: What's the most anonymous way to buy bitcoins in the US?
Post by: flipside on April 15, 2012, 09:38 am
The method we most commonly recommend is this:

Although there are many, MANY ways to obtain Bitcoins, we feel the simplest, fastest, and most anonymous way for the average buyer to obtain Bitcoins using Tor would be to go to "http://www.wm-center.com" and send them a Western Union.

Within a few hours you can transfer your Bitcoins from WM-Center to an Instawallet at "http://www.Instawallet.org".

Then (if you choose) there are MANY ways to "mix and tumble" your coins before transferring them to your SR account. However SR itself has a "built-in" tumbler, so this step is generally not considered "essential".

You can have your coins in your SR account within a matter of hours using this method. :)

Peace

The Flipside Crew

Title: Re: What's the most anonymous way to buy bitcoins in the US?
Post by: hunter.s.thompson on April 15, 2012, 11:25 pm
Thanks for the quick and detailed response. I'll give it a whirl. :)
Title: Re: What's the most anonymous way to buy bitcoins in the US?
Post by: greatgreatgrandpa on April 16, 2012, 12:24 am
what new revelation causes you to think FBI is into SR or BTC anymore now than 12 months ago?
Title: Re: What's the most anonymous way to buy bitcoins in the US?
Post by: spacecadet1728 on April 16, 2012, 02:35 am
i like to use btcking. costs10% plus $6.50 but is very anonymous
Title: Re: What's the most anonymous way to buy bitcoins in the US?
Post by: radium1911 on April 16, 2012, 02:40 am
The most anonymous way is through moneypak. It is also the most expensive by far.

Second most anonymous is bitinstant. You don't need an ID or anything, but you will be on bank security tapes.

Last place is dwolla/bank transfers. Your identity is linked.

That said, it's nearly impossible to prove your BTC went to SR, and LE won't bother trying to prosecute small-time buyers. They're after the big vendors.
Title: Re: What's the most anonymous way to buy bitcoins in the US?
Post by: flipside on April 16, 2012, 06:20 am
As far as I can tell (correct me if I am wrong) there is no way to get coins without being 'on camera' at some point in the start (although I am waiting on advice about "possibly" sending WU's anonymously [off-camera] online) to avoid this).

Obviously Bitcoins are 100% legal to purchase, but they are also "very" easily traceable. It is the "money/coin trail" we are concerned about for the average user at this point, as well as the Feds ongoing interest in dirty Bitcoins and SR in general.

But if you "mix and tumble" your coins (i.e. use multiple Instawallets/Tor identities, Gambling websites, ect, or simply rely on SR's 'built-in' tumbler, this "shouldn't" be an issue. Although I would be very curious to know more details about SR's built-in tumbler if I were to rely on it 100%.

Will report back with any new information about 100% off-camera/Tor-based possibilities.

Peace

The Flipside Crew