Silk Road forums
Discussion => Security => Topic started by: pikapikapika on December 03, 2012, 06:39 am
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Hi!
I have a slightly embarrassing first time bitcoin buyer question. I was using a well-reviewed bitcoin website that requires cash deposit at a bank, and was under the impression that the advantage of an in-person cash deposit is that I wouldn't have to provide any personal details. Unfortunately, when I got to the bank, the teller asked me for a first name and phone number before she'd put through my deposit. It would have been very easy to give fake information, but I froze up, and ended up actually telling her the truth because - in the moment - I felt like it would be worse to wait too long without saying anything. I realise what a dumb first time error this was, and I definitely won't be depositing money for bitcoins again without being mentally prepared to give the bank teller fake information.
My question now is how concerned I should be about this? I realise purchasing bitcoins is perfectly legal, so the problem I'm worried about is that I've made it easier to trace me. Should I be selling off these bitcoins and starting fresh, doing something else with them to cover my tracks before I spend anything, or is it not really a big enough problem to be worried about?
Thanks!
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That's concerning :(. I was very clear that I was making a cash deposit, and I don't see how the teller could have thought otherwise, because the deposit itself proceeded (otherwise) normally. It seems like the kind of thing that different banks might have different protocols for? They didn't actually ask me to prove my ID, they just wanted some basic contact information, so my assumption was that if my cash deposit didn't go through for some reason, they would be able to call me to let me know. But if it's really so unusual for them to ask at all, it makes me wonder if the account I was depositing to had been flagged or something like that? Maybe that's paranoid, but if there's even a possibility of that I'd rather start sell off these bit coins and start clean.
I'd be interested to hear if anybody else has ever been asked to provide a name and contact number, or any other personal information, when making a cash deposit for bitcoins?
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CM is obviously way more experienced than I am and I defer to him/her, but just my $.02, you've now tied your true ID to these bitcoins. Even though SR tumbles, so theoretically your specific coins shouldn't be tied to specific purchases, it wouldn't be hard to follow your coins to SR. So I would suggest cashing out this batch of coins and starting fresh OR hitting up a laundry between your current wallet and SR to break the ID chain.
EDIT: laundry rates average, I think, 1-3%? Maybe you sleep easier than I do but I'd consider it worth it.
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Thanks for the advice, CaptainMal and oldtoby. It seems like there isn't a particularly big risk, but I'll think about it and look into some tumbling options :).
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After investigating a bit further, I think it might actually be standard practice to require some sort of ID for cash deposits in my country. I looked up the deposit slips for several of the major banks on Google, and they all asked for name of depositor, plus either address or phone number. It's a bit disheartening - maybe the cash deposit route isn't the best one for this country!