Silk Road forums
Discussion => Newbie discussion => Topic started by: ectasynow on April 15, 2013, 02:34 am
-
I am new to SR and am lost! I have been left some bit coins from a fellow member who is sadly no longer with us. :'( I now would like to send some of the coins to Mt. Gox to sell, then re-buy when they're worth a little more, then send back into SR wallet to purchase with. How do I do this?!? I know this is 101 stuff to you guys and ladies, but I am confused and need to understand this method. And last, what is the best method of cashing out from SR when I take profits?
-
I need to know this too
-
In regards to the question asked at the end of your post,
First of all, when you start making money (well, technically Bitcoins) through being a vendor on SR, you should definitely do whatever you can to avoid ending up in a position where you have thousands & thousands of dollars worth of Bitcoins that you need to cash out. This is something that seems to happen to a lot of different vendors, & unless you're willing to be very patient & cash out gradually, it seems to be very hard - if not impossible - to cash out thousands of dollars worth of Bitcoins safely.
The method of cashing out that I would recommend would be through a vendor on SR who offers services such as sending cash in the mail or via Western Union/Moneygram in exchange for your Bitcoins. You can find vendors who are willing to do this in the "Money" section of listings on the Silk Road.
It's incredibly important that you use a vendor that's been on SR for quite a while & has at the VERY least 150 prior transactions on the Road. Also, it's obviously definitely important that the person is well-reviewed & that others have had very beneficial experiences with cashing out with them. However, being someone myself who offers that service, I know firsthand that it means having to deal with lots of extra-difficult customers & that many people get accused of scamming in the feedback people leave them even when the vendor has indisputable proof that they sent the money that they were supposed to.