Silk Road forums

Discussion => Security => Topic started by: sweenytoddpies on August 25, 2012, 04:11 am

Title: Is there an advantage to using Mtgox?
Post by: sweenytoddpies on August 25, 2012, 04:11 am
I'm wondering why people use Mtgox

It seems that you can just use Bitinstant and get the Bitcoin sent to an address you create in your client. I've read threads that say Mtgox is asking for ID (greanted, only in certain cases). Why add more complication to the process?

I understand there is some added anonymity, but it seems easy enough to increase anonymity of your Bitcoin by tumbling. Heck, SR does it for you.
Title: Re: Is there an advantage to using Mtgox?
Post by: angelkiller on August 25, 2012, 11:56 am
As I understand it, BitInstant goes through Mt. Gox. BitInstant just automates the process so all you have to do is give them cash and they'll give you bitcoins.

Gox doesn't require ID. The only advantage of Mt.Gox is lower fees. Bitinstant takes I think 4%. The price of convenience.