Silk Road forums

Discussion => Security => Topic started by: psychedelicinsight on December 04, 2011, 02:06 am

Title: Is Dwolla Safe?
Post by: psychedelicinsight on December 04, 2011, 02:06 am
what exactly is dwolla? If I use it to buy bitcoins will they still be traceable?

I'm kinda confused on the difference between Dwolla and paypal.
Title: Re: Is Dwolla Safe?
Post by: phubaiblues on December 04, 2011, 02:49 am
what exactly is dwolla? If I use it to buy bitcoins will they still be traceable?

I'm kinda confused on the difference between Dwolla and paypal.

Dwolla is just an online currency, yes, similar to paypal.  It got handy to many of us, simply because we wanted to buy bitcoins, either thru mtGox or Tradehill, and dwolla was 'one' way of doing it.  It just takes a few days to get a bank transfer.  I see you've used get-bitcoin.com also, and I've used both those myself.  I like Tradehill, because I can keep dollars there, unlike get-bitcoin.com, where you have to make the transaction to btc.

But yes, dwolla are traceable.  All that is just dependent on how paranoid you are about it all, but I figure it's all tracable and all legal, no worries, buying bitcoins and all, but once I get btc, I do like to bounce them once or twice in instawallets, as I like them to be more private.  Good luck, you're doing it right, I saw on your other post, with get-bitcoin.com...you can use dwolla too, if you want to 'diversify' but they are slower...
Title: Re: Is Dwolla Safe?
Post by: psychedelicinsight on December 05, 2011, 12:13 am
Thanks a lot phuba! What exactly is the difference between Mt Gox, tradehill, and get-bitcoin? Can I store the coins I buy on tradehill's site?
Title: Re: Is Dwolla Safe?
Post by: MagicMan on December 05, 2011, 12:40 am
Mt. Gox and Tradehill are both Bitcoin exchanges. I use Gox because they're bigger (80% of all BTC transactions have gone through them as per wikipedia and their homepage) and because they're the ones that I started with and never bothered looking at others. I've never used get-bitcoin so I can't comment on them.  As far as I know you should be able to store coins and dollars on tradehill just like you can on Gox.

As for dwolla being safe, just use a fake name, address, and etc. and tumble all the coins that you buy from the money transferred from dwolla and you should be good.
Title: Re: Is Dwolla Safe?
Post by: purifiedwater on December 05, 2011, 02:07 am
Nvm :)
Title: Re: Is Dwolla Safe?
Post by: uncle frank on December 06, 2011, 03:19 am
I can't seem to get to MT Gox in the Tor browser.  It errors out, too many log ins from this IP.  Works fine in Chrome. 

My first transaction with Dwolla went smoothly.
Title: Re: Is Dwolla Safe?
Post by: phubaiblues on December 09, 2011, 04:14 am
Thanks a lot phuba! What exactly is the difference between Mt Gox, tradehill, and get-bitcoin? Can I store the coins I buy on tradehill's site?

Well, I don't know: MtGox and tradehill are exchanges, u know, kind of like a 'stock exchange' where you can buy and sell bitcoins, speculate, make trades, try to make a buck...I like tradehill, but I'd be o.k. with either one....

get-bitcoin is just a place to buy bitcoins, plain and simple...it's even simpler than the older version: exchangebitcoin.com.  You don't have an account, you just *buy* and they'll get them to you within 24 hrs. 

Which is best?  Damn if I know...they all serve their purpose.  I'd rather use tradehill or mtgox, but it's just more of a pain to get dollars to them...and that's what dwolla does: it's an accepted currency on those two.

But if I need btc today, now, and don't really care about getting the very best deal, and don't need to have dollars sitting on the account, then get-bitcoin.com is handier...I'd do both...I don't know, maybe now I wouldn't....just get you some btc on get-bitcoin.com and play around a bit, you'll get the idea....

A lot of people probably would use paypal, if tradehill or mtgox accepted them, but they don't...you got to remember there are a lot of scams going on, in this area, and paypal just doesn't want to have to deal with all the bs of people not getting paid and shit...but some of us have bought btc with paypal...it's just seriously overpriced....
Title: Re: Is Dwolla Safe?
Post by: CaptainSensible on December 09, 2011, 10:15 pm
Just know that MtGox is doing everything in it's power to cooperate with the DEA and other federal agencies.  Don't believe me?  Google "MtGox  money laundering"  and you'll find news articles explaining how MtGox is eagerly helping the DEA identify Bitcoin buyers.  Dwolla is probably doing the same thing. 

So one advantage to using Getbitcoins is that you give away much less identifying information in the process of buying your Bitcoins.   
Title: Re: Is Dwolla Safe?
Post by: axellrose on December 10, 2011, 06:27 am

As for dwolla being safe, just use a fake name, address, and etc. and tumble all the coins that you buy from the money transferred from dwolla and you should be good.

"tumble all the coins" . . . . Could you explain or expand on this please?
Thanks