Silk Road forums
Discussion => Security => Topic started by: lokiju on March 29, 2013, 12:23 am
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I don't know if this qualifies as 'secret' but I"ll ask it anyway.
How do you get cash OUT of BTC? I think the BTC is going to keep rising, and I don't need the money, but some people must get it out.
I used BitFloor to get money IN, will they send you a check if you ask?
I'm in the US
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I'll tell you how if you pay me 1 BTC.
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I don't know if anyone will give specific details of this for obvious reasons. But it's pretty easy to figure out if you look at the other ways that people are selling BTC.
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The most profitable way to cash out is to use your BTC to buy drugs, then sell those drugs :)
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Bitcopia will buy your coins. I think you can get direct bank deposits for Wells Fargo and Bank of America accounts, or you can get cash in mail.
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Bitcopia will buy your coins. I think you can get direct bank deposits for Wells Fargo and Bank of America accounts, or you can get cash in mail.
Nice try, FBI.
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localbitcoins.com
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Hello, I buy bitcoins using Western Union and Moneygram. See the link in my signature. Thanks!
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Hello, I buy bitcoins using Western Union and Moneygram. See the link in my signature. Thanks!
the OP is trying to cash out of bitcoins..
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Hello, I buy bitcoins using Western Union and Moneygram. See the link in my signature. Thanks!
the OP is trying to cash out of bitcoins..
Hi, that's great! I would love to buy them from him (or anyone) using WU or MG.
Thanks!
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The most profitable way to cash out is to use your BTC to buy drugs, then sell those drugs :)
This :)
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Bitcopia will buy your coins. I think you can get direct bank deposits for Wells Fargo and Bank of America accounts, or you can get cash in mail.
Nice try, FBI.
lel
But really, I was just mentioning all of Bitcopia's options. Although I guess it was pointless for me to even bring up the bank options. ::)
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I was curious about this as well.
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It's not so much a secret. It's more information that is either learned from experience or earned by expedience.
The reason these methods are kept quiet is that this is the "last mile" of the money trail for the vendor. The easiest way to find dodgy shit for the cops is to follow the money. Also, the more generally known a loop-hole is, the more likely it is to be closed.
As such, you have to be a fool to publicly disclose your cashout methods. Anyone who does so is cutting off their nose to spite their face.
When you learn your own methods, whatever they might be, you will know what I mean and you too will be reluctant to disclose how you do it.
Your best bet is to search for more general laundering stuff (placement, integration, layering), absorb the information and then sit and ask yourself how you are going to fit it together.
On the other hand, if you just want to cash out a few bucks occasionally, just make sure your coins are clean and cash out via an established exchange. BTC arent illegal, nor is it illegal to own, buy or sell them, even if the person who owned them before you bought drugs *gasp*.
Personally, I'm looking for a friend who has similar interests, but wants to start a BTC trading business instead of a substance trading business. Until then, I have several other methods at my disposal.
Functionally, it is possible to trade BTC and drugs, but it kills my risk-o-meter. That shit last year with Vlad means I will never send coins for cash in post again. If you are a vendor and you do this, please make sure you have drop addresses so you decrease the chances of being discovered.
https://localbitcoins.com/ is your friend. :-)
(As is BTC-OTC)
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i dont trust localbitcoins.com because what if its a fed setting up an account and selling bitcoins locally and ten they follow you to your house and keep you under watch
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i dont trust localbitcoins.com because what if its a fed setting up an account and selling bitcoins locally and ten they follow you to your house and keep you under watch
Yep, could be. Also, your neighborhood CVS / Walmart / Bank of America have cameras. These "anonymous cash drops" are not as anonymous as they appear. There's no perfect solution.
Really, the only reason we don't get busted transferring BTC to SR is because LE doesn't give a fuck about buyers. They probably don't give a fuck about most vendors either, considering they can bust 50 kilos on a swift boat with 3 hours of work. You know how long it would take to do an investigation to find a bitcoin buyer?
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i dont trust localbitcoins.com because what if its a fed setting up an account and selling bitcoins locally and ten they follow you to your house and keep you under watch
I'll just leave this here
https://bitcointalk.org/index.php?topic=174918.0
So, as a few of you guys know, I'm moving to another country soon enough. When I get over there I won't have access to my bank account, so a few weeks ago I decided it might be a good idea to sell some of my BTC for cash. I had done this a couple of times before and had a positive experience, so had no whims about doing it again.
So I received a request from someone who wanted to buy 500euro worth of BTC in a f2f transaction. I drove down to meeting spot, met the guy, he gave me the 500euro and basically ran back to his car and drove off. I obviously found this strange, but it was an escrow tx, so I released escrow from my phone and went back to my car.
On my drive back, I noticed that there was a Ford Mondeo behind me (the kind of car that is usually used by undercover police in my city). It seemed to be following me, I didn't have all my paperwork on my car in order, so I decided to take a detour down some local back-roads and shake it.
So anyways, I lost the car, drove home and thought nothing of this strange encounter.
Over the next few days, I noticed strange needle marks and tiny tears in all of my mail, I also noticed a really strange parked car outside my house one day, when I walked over to it to ask them what they were doing there, they drove off at speed. I probably should've been suspicious then, but I had done nothing wrong and shrugged it off.
A couple of days later, I wake up to the sound of my door being smashed in. I run down to find 5 police officers in my house. They showed me a search warrant under the misuse of drugs act. The national drugs unit were parked outside with sniffer dogs ready, they left after a few minutes though and didn't come inside with the dogs. The police told me the person I met on localbitcoins was an undercover police officer, and they had copied the registration number off of my car and got my address from it.
They stripped the whole house down, turned everything upside down looking for drugs. They found 1 joint of weed and they also seized a clock which they thought was a digital scale (it wasn't) and informed me that they were going to prosecute me for intent to supply, even though I wasn't selling, and I showed them a prescription from a doctor in another country (that isn't valid here) and told them the superintendant of the local police station had informally told me that they wouldn't prosecute me for possession if it was medical use even though I was technically breaking the law. They also found padded envelopes and accused me of selling drugs through the post (a complete lie with no evidence).
They then told me that if I didn't give them all the messages & phone numbers of everyone I had met to sell BTC that they were going to seize all my bitcoin miners, computers etc and have them "analyzed". I was about to move country in the next few days and didn't want the hassle of having to deal with this, so I told them that I had deleted all the messages (which I did) but that I would be able to get them back if they left my computers there, and that I would co-operate fully (I'm obviously not going to co-operate). They then left and I changed my flight date and basically fled the country the next day, luckily I was planning on moving in a week anyways.
So, a warning to you guys, be careful doing f2f transactions or buying/selling BTC in general, even though we're not breaking the law it doesn't mean you won't get unwanted attention from the police.
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i dont trust localbitcoins.com because what if its a fed setting up an account and selling bitcoins locally and ten they follow you to your house and keep you under watch
I'll just leave this here
https://bitcointalk.org/index.php?topic=174918.0
So, as a few of you guys know, I'm moving to another country soon enough. When I get over there I won't have access to my bank account, so a few weeks ago I decided it might be a good idea to sell some of my BTC for cash. I had done this a couple of times before and had a positive experience, so had no whims about doing it again.
So I received a request from someone who wanted to buy 500euro worth of BTC in a f2f transaction. I drove down to meeting spot, met the guy, he gave me the 500euro and basically ran back to his car and drove off. I obviously found this strange, but it was an escrow tx, so I released escrow from my phone and went back to my car.
On my drive back, I noticed that there was a Ford Mondeo behind me (the kind of car that is usually used by undercover police in my city). It seemed to be following me, I didn't have all my paperwork on my car in order, so I decided to take a detour down some local back-roads and shake it.
So anyways, I lost the car, drove home and thought nothing of this strange encounter.
Over the next few days, I noticed strange needle marks and tiny tears in all of my mail, I also noticed a really strange parked car outside my house one day, when I walked over to it to ask them what they were doing there, they drove off at speed. I probably should've been suspicious then, but I had done nothing wrong and shrugged it off.
A couple of days later, I wake up to the sound of my door being smashed in. I run down to find 5 police officers in my house. They showed me a search warrant under the misuse of drugs act. The national drugs unit were parked outside with sniffer dogs ready, they left after a few minutes though and didn't come inside with the dogs. The police told me the person I met on localbitcoins was an undercover police officer, and they had copied the registration number off of my car and got my address from it.
They stripped the whole house down, turned everything upside down looking for drugs. They found 1 joint of weed and they also seized a clock which they thought was a digital scale (it wasn't) and informed me that they were going to prosecute me for intent to supply, even though I wasn't selling, and I showed them a prescription from a doctor in another country (that isn't valid here) and told them the superintendant of the local police station had informally told me that they wouldn't prosecute me for possession if it was medical use even though I was technically breaking the law. They also found padded envelopes and accused me of selling drugs through the post (a complete lie with no evidence).
They then told me that if I didn't give them all the messages & phone numbers of everyone I had met to sell BTC that they were going to seize all my bitcoin miners, computers etc and have them "analyzed". I was about to move country in the next few days and didn't want the hassle of having to deal with this, so I told them that I had deleted all the messages (which I did) but that I would be able to get them back if they left my computers there, and that I would co-operate fully (I'm obviously not going to co-operate). They then left and I changed my flight date and basically fled the country the next day, luckily I was planning on moving in a week anyways.
So, a warning to you guys, be careful doing f2f transactions or buying/selling BTC in general, even though we're not breaking the law it doesn't mean you won't get unwanted attention from the police.
wow...
this is why i still havent found a way to transfer money into btc yet. ill be sitting it out and thinking about it
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wow...
this is why i still havent found a way to transfer money into btc yet. ill be sitting it out and thinking about it
If you're in the US bitfloor is nice. You don't need a name or ID.
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wow...
this is why i still havent found a way to transfer money into btc yet. ill be sitting it out and thinking about it
If you're in the US bitfloor is nice. You don't need a name or ID.
only for the US?
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There are literally 3 or 4 people i can connect with in my mid size city on localbitcoins.... Fuck That.
Localbitcoins sounded like a possible honey pot when i seen it. I hope no vendors are using that for f2f transactions and especially cashing out. maybe check out bitcoin-otc i head good things about that service.