Silk Road forums

Discussion => Security => Topic started by: drugsRus on March 11, 2012, 09:05 pm

Title: New Seller - cashing bitcoins back into GBP in the UK
Post by: drugsRus on March 11, 2012, 09:05 pm
Hello Silk Road,

We are setting up a new seller account on the silk road.

We have checked all the boxes and have all plans in place for postage, vacuum sealing etc... although after pouring over the forums and seller's guides, I just can't find an answer to this question.

What is the best way for me (in the UK) to get my bitcoins back to GBP?

Preferably I'd like it to be in cash, not into my bank account as the money would then need to be explained. All this money coming from a Bitcoin exchange would look dodgy I imagine. But one idea we had was to buy Moneypak and then transfer to a Paypal account. We could then deposit it onto a gambling website then withdraw into my bank account and it would just look like I had been gambling and won. Although this still would leave more of a trail than I would like.

Any ideas please? I'd really appreciate any advice with regards to cashing out without getting caught!

Thanks very much!
Title: Re: New Seller - cashing bitcoins back into GBP in the UK
Post by: alwaystrying on March 12, 2012, 03:13 pm
gamble it on a safe bet. then deposit it into your account.

or if you have a local market too, you could use your BTC on SR to make a big ole purchase from another vendor of a different product, then sell it in bulk locally for a small mark up.

that way you make more money and get the cash asap.

all depends on your situaton
Title: Re: New Seller - cashing bitcoins back into GBP in the UK
Post by: drugsRus on March 12, 2012, 05:57 pm
Thanks for the reply.

I don't think I'd be able to sell locally unfortunately.

A question about the betting sites, is there a minimum you have to bet on before you can take back your money? I figured you could just withdraw it straight away. But is the betting site likely to query you on why you are depositing large amounts of money just to withdraw it again shortly after?

And do they allow you to deposit from one account and withdraw to a different one?

Another question I have, maybe for you, or the rest of the forum please. Do you need to have ID to collect money from Western Union?

Thanks very much
Title: Re: New Seller - cashing bitcoins back into GBP in the UK
Post by: DropGuy751 on March 13, 2012, 06:27 pm
People thinking to hard about it.

Cash-out to VCC or some other payment method like LR etc then get VCC for extra anonymity, then use VCC to buy stuff, Win?

Sell stuff you bought with VCC for cash, or keep stuff for yourself.