Silk Road forums
Discussion => Security => Topic started by: onlyin2012 on April 14, 2013, 02:44 am
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Hi All,
What's currently the best way to move Bitcoins from Silkroad to cash money? I noticed that you can send bitcoins to your Mt.Gox address but I don't trust that and after everything I'm seeing here re: Mt. Gox as of late I'm going to stay away from them.
I'm just starting to research and appreciate any feedback. Seems like
Thanks,
O
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Show up for the bitcoins meetings in your area, sell discounted for quick cash.
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Thanks Donkeydong,
Sounds like I need to do some homework. Can you suggest some key word terms to search and where? I'm admittedly not familiar with the fact that there are bitcoins meeting areas.
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I think he was joking about the meetings, but there is localbitcoins.com.
Find some naive person in your area to sell your dirty, drug-tainted coins to, at a profit even! :)
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Yes, localbitcoins works great. Don't be surprised if there are groups of people who meet up for btc outside of that, just have to find them and act like btc is your hobby too.
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and be the guy they think is the sucker who always makes bad deals. Well worth a small commission for immediate cash.
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I think he was joking about the meetings, but there is localbitcoins.com.
Find some naive person in your area to sell your dirty, drug-tainted coins to, at a profit even! :)
U could even then put in your wallet, that profit given ;)
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So... if I attempted to send my (beautiful-drug polished) bitcoins from SR to Mt. Gox would they accept the coins and then I would simply have to move sell them for cash to Mt. Gox's site?
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Why wouldn't they accept the coins? I know they tried to block "tainted" coins for a while in 2011. Those were coins that had been reported stolen, but they gave that up pretty quick, because it's basically impossible.
The issue here isn't whether it's possible to transfer coins from SR to MtGox, it certainly is. The issue is whether that is safe. Someone investigating transactions in the block chain, who has identified bitcoin addresses controlled by SR, could figure out that you're making money on the site, and MtGox would have no problem turning over your info in response to a proper LE request.
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uhmmmmm... i dont mean to sound like a DRuG addict or anything.. but usually once my coins get to SR, they are there for about 10 minutes before getting SPENT haha. I have NEVER moved them back OUT of SR... only in :-)
Hope that helps!
8) ::) 8) ::) 8) ::) 8)
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uhmmmmm... i dont mean to sound like a DRuG addict or anything.. but usually once my coins get to SR, they are there for about 10 minutes before getting SPENT haha. I have NEVER moved them back OUT of SR... only in :-)
Hope that helps!
8) ::) 8) ::) 8) ::) 8)
And i can bet you ALOT of people are in the same dam boat as me.. wish it wasnt so, bet it is tho..
:'( :'( :'(
:-* :-* :-*
:'( :'( :'(
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I hear what you mean, I've always been doing the same thing, just get the coins, move the SR and make my buy to avoid the fluctuations and potential loss of money, espeically now since the currency is so volatile.
What about just moving my SR bitcoins to my bitcoin wallet and then moving them to Mt. Gox sell them for money and then transfer the money to my bank that I have setup through Mt. Gox? This way, I've changed my bitcoin address and any would be LE officials looking to track down bitcoins paths would be even more work on their hands? Ideally the whole process would just take place on line and I wouldn't have to really meet up with people to trade bitcoins in persons. In my opinion, the longer the bitcoins are bitcoins, the more likely the chances are that I could lose money.
Appreciate all the feedback from the community, this is definitely a pretty cool group of people.
Cheers!
O
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What about just moving my SR bitcoins to my bitcoin wallet and then moving them to Mt. Gox sell them for money and then transfer the money to my bank that I have setup through Mt. Gox? This way, I've changed my bitcoin address and any would be LE officials looking to track down bitcoins paths would be even more work on their hands?
I think this is a Reasonably Safe thing to do. In general, the more address hops between SR and your cash out, the better. These could be actual wallets on your local machine that you delete afterwards, or anonymous online ewallets. There are some popular BTC "mixing" services that charge a small fee to mix or tumble your coins (BitFog is one, there are others). Personally, I avoid these as they are all possible LE honeypots.
At the end of the day, you're going to have a cash deposit from a BTC exchange on your personal bank record. This isn't illegal or incriminating in itself (yet), but it will certainly look suspicious if you get in trouble for drugs/hacking/terrorism/whatever in the future. For this reason, I agree with the poster above (+1 donkeydong) that selling your coins locally for cash is the safest way to do it, even if not very fast or convenient.
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uhmmmmm... i dont mean to sound like a DRuG addict or anything.. but usually once my coins get to SR, they are there for about 10 minutes before getting SPENT haha. I have NEVER moved them back OUT of SR... only in :-)
Hope that helps!
8) ::) 8) ::) 8) ::) 8)
And i can bet you ALOT of people are in the same dam boat as me.. wish it wasnt so, bet it is tho..
:'( :'( :'(
:-* :-* :-*
:'( :'( :'(
i am a passenger in that boat also, i got lucky and made some purchases prior to the most recent huge bubble and burst, to me btc is a means to obtain what i am after, NOT an investment vehicle. If you choose to invest in btc, understand it is much easier to manipulate than the stock market. When one brokerage controls 80% of the volume? comeon guys, you know the finance industry is corrupt through and through. Why think btc is any different? With the ddos and the methods they used to do what you witnessed, it will happen again and again. And now as main stream merica thinks they can make a few bucks it will only get worse, i am glad things are closer to what they should be, i need to place some orders, i will feel better when btc gets adjusted to where it should be, it still has a way to drop imo. Good Luck have fun sbmafia :)
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uhmmmmm... i dont mean to sound like a DRuG addict or anything.. but usually once my coins get to SR, they are there for about 10 minutes before getting SPENT haha. I have NEVER moved them back OUT of SR... only in :-)
Hope that helps!
8) ::) 8) ::) 8) ::) 8)
And i can bet you ALOT of people are in the same dam boat as me.. wish it wasnt so, bet it is
:'( :'( :'(
:-* :-* :-*
:'( :'( :'(
Nice Advice
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Anyone here prefer using a client as your bitcoin wallet as opposed to an online wallet? Seems that with LE always lurking around that it's probably not good to get to deep into discussion but I think I prefer using the online wallet with an account that I can create. What if my computer goes beserk or something happens on my client that jacks the client application? With the online wallet service I like that you can access it from most anywhere at anytime, change your bitcoin address and then just sell your bitcoins.
Just wanted to say thanks to everyone again for your help. P.S. I'm pretty high right now! :) I sure do love my opiates baby! Gotta stop taking them but am enjoying it while I can.
Cheers all!
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Anyone here prefer using a client as your bitcoin wallet as opposed to an online wallet? Seems that with LE always lurking around that it's probably not good to get to deep into discussion but I think I prefer using the online wallet with an account that I can create. What if my computer goes beserk or something happens on my client that jacks the client application? With the online wallet service I like that you can access it from most anywhere at anytime, change your bitcoin address and then just sell your bitcoins.
I feel safer storing coins in my own wallet, since I use encryption and backups. If something catastrophic happens, I'd rather it be my fault then some dickwads I have no control over. However, I'm also pretty confident that I won't lose my wallet. It's probably not a good solution for a lot of people.
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Lets say I doubled my money from the last BTC rally, and I sold the coins in the exchange before the drop. In my account I have a little more than double my original USD dollar amount. How can I get that back into dollars? I had to do this quickly last week, and I didn't think about how to get my money out of the exchange. It wouldn't bother me too much if I can't move it back to USD.
thoughts......