Silk Road forums
Discussion => Security => Topic started by: Lubriderm on December 14, 2012, 01:14 am
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Bitinstant is a reliable source for getting bitcoins but the 3.99% is too much to bear.
Transferring $500 actually only gets you $480 ... it doesnt seem like much but it adds up!
Anyone know of any other ways of obtaining bitcoins for an inexpensive fee?
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I've been buying from btc vendors here but the rates are sky high. Is there a guide to buying btc's from mt gox or bitinstant or some other service safely and efficiently? I imagine there is....
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I've been buying from btc vendors here but the rates are sky high. Is there a guide to buying btc's from mt gox or bitinstant or some other service safely and efficiently? I imagine there is....
140 posts!? and you don't know?
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@redfunguy
I dont suggest buying from BTC vendors due to the high percentages of scammers, but there is a post on how to use bit instant.
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Thanks Lubriderm. I've bought from Sugar Mama about 4 times totaling close to 2K with no problems, just the 10-12% fee that I want to move beyond. I will do more research.
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If you want to buy Bitcoin, why don't you buy it "face to face"?
I know, some of us are really paranoid, so send a friend, someone else etc.
I think it's the cheapest way to get Bitcoin and you don't have to support fucked up sites / corporations etc.
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D- Bank, what do you mean face to face? As in go to a walmart or walk into a bank and fund and account, then do all the transfers from place to place to wash it?
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D- Bank, what do you mean face to face? As in go to a walmart or walk into a bank and fund and account, then do all the transfers from place to place to wash it?
For instance you could check out the Bitcoin's unofficial forum, escpecially the market place, meet a person IRL and do a "face to face" transaction, you give Bitcoin and recieve € / $, or vice versa.
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Exactly what Deutsche Bank said. Look on localbitcoins.com
Its not sketchy at all and most of the people that site are speculators. I am sure a bunch of people are selling coins right now since the price is so high.
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#bitcoin-otc is pretty good. Takes a bit of setting up and you do risk being scammed if you don't use it properly (read up on it, use the web of trust) but you're buying from individuals rather than through corporations. Cash in the post or face to face is the best method IMO, but you won't find anyone doing that cheaply and it's not like you can just transfer funds with a click of a button.
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I've always used bitinstant for my bitcoin transactions; it's wonderful if you're doing small transactions up to probably 1000 bucks. The only large transaction I did which was for 400 dollars netted about a 20 - 30 dollar fee, but the funds are in your account within an hour after going down to Wal-Mart and filling out the moneygram transfer. Plus a lot of convinience stores do moneygram so if anonymity is your thing then you can jump around. Although the transactions go to a company, so it doesn't scream illegitimacy when you use the service.
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I've always used bitinstant for my bitcoin transactions; it's wonderful if you're doing small transactions up to probably 1000 bucks. The only large transaction I did which was for 400 dollars netted about a 20 - 30 dollar fee, but the funds are in your account within an hour after going down to Wal-Mart and filling out the moneygram transfer. Plus a lot of convinience stores do moneygram so if anonymity is your thing then you can jump around. Although the transactions go to a company, so it doesn't scream illegitimacy when you use the service.
I to used to be a Bitinstant fan, but sadly i'm no longer using them. I used them because of the anonymity and ease of transaction for cash deposits.
Now they require wayyy too much info to make a purchase for coins. They want email addresses and names. Then when I tried using the cash deposit it forces me to use ZipZap, which then wants even more info. When I tried to deposit the money anonymously for a Moneygram, they required ID, address, phone number everything.
I tried 3 diff. locations and they required the same thing. >:( >:( >:( >:(
Anyone else have a better way to buy BTC anonymously? I mean I can walk into any store with cash and buy items, why do they need all my info to buy BTC....
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I am telling you guys.
The way to go is using localbitcoins.com.
Check it out. Its so damn simple!
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I am telling you guys.
The way to go is using localbitcoins.com.
Check it out. Its so damn simple!
That's good and all if you live in an area that has local sellers, but I myself live in the middle of nowhere in the US, and I would have to drive at least a couple hours to get to my nearest local seller. And even then there's only one or two in the area.
I've never been asked for my ID on a moneygram transfer, and really I don't see why it would matter... If you send your coins through enough wallets then how the hell are they going to get anything? SR may be a big part of BTC's use, but it's not all of it. Someone buying bitcoin is not a reason to suspect them of some darker thing. I get that the whole anonymity thing is important and all, but I really think that if you do right by the BTC when you get them into your wallet and wash them nice and clean where they can't be traced back to you ( which I don't see how they could be traced back to you in the first place ) I don't know why you'd worry. Even if you're putting a few thousand dollars into it, moneygram is used for bills as well as sending money to people. You don't have to tell the people that are handling your moneygram anything other than "it's for a bill" and what can they do?
I mean, all in all, I think that considering you're getting drugs shipped to your residence, the odd-chance that someone might be suspicious of your moneygram is the absolute least of your worries.
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how exactly does this localbitcoins.com work? you show up with cash and what a mt.gox account number or email or what? Can you pay cash? Do you need id? Is there any amount you cant buy/sell more than? What are the fees typically % wise?
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If you want a cheaper method then 4% + static fee (~4$ if I remember moneygram fee being...), you can try other cash vendors (only save $$$ if buying low quantities of BTC where the flat fee isn't spreadout as much...
- Blue Sky Traders (http://ok2yri46aaptiu2d.onion.to/index.htm) : Bank of America direct deposit
- Bitcopia (https://bitcopia.com/index.php): Wells Fargo direct deposit - I just used this service the other day, fast but WF did mess up with info and for faster service I had to email pic of receipt. They charge a 5% no flat fee...
Other then some of those, you can try local... though prices are higher in my area by ~1$ per coin.
Otherwise you have to use a more trackable/legit method... Though remember you will HAVE to mix coins for an additional 1-3% (blockchain.info is 1.5% flat) because they almost require verification of identity.
Dwolla->MtGox: Takes 30 days to setup, have to verify with photo id/utility bill. Dwolla charges $0.25 for transfers of funds (you fund dwolla with your own bank account), MtGox charges <0.6%. Benefit here is you can get the most current BTC pricing, you can even set buy orders if price reaches a certain level. Takes a week from funding to BTC generally.
https://coinbase.com: Again you have to fund with your own bank account. They charge 1% for purchases, they front you the $$ to buy at current MtGox+1% rate then deliver BTC once your bank transfer clears, about a week later (they give accurate date/time of BTC delivery). Cool thing is this is a one stop shop, you don't have to fund somewhere then transfer to exchange/btc vendor. They do not require ID verification but only fund with checking account. Limits of 10BTC a day purchases until 30 days which is raised to 100 a day.
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how exactly does this localbitcoins.com work? you show up with cash and what a mt.gox account number or email or what? Can you pay cash? Do you need id? Is there any amount you cant buy/sell more than? What are the fees typically % wise?
Have you even checked out localbitcoins.com for answers to your questions?! ??? They have a FAQ section that answers all of them, and more.
###CLEARNET###
https://localbitcoins.com/faq
###CLEARNET###
- grahamgreene
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There is a lot of bad advice here.
Your best bet is Dwolla then mtgox. It doesn't take 30 days. Took me less than one week. The fee is about 25 cents per transaction.
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There is a lot of bad advice here.
Your best bet is Dwolla then mtgox. It doesn't take 30 days. Took me less than one week. The fee is about 25 cents per transaction.
Sure thing, they changed their policy... FYI a few months back both your Dwolla and MtGox accounts had to be verified to transfer from dwolla to MtGox. Dwolla verification is 30 days after first "funding", where as the MtGox is photoid + utility bill.
Seems like now only Mt Gox needs to be verified, funny Mt Gox still has it sort of documented, linking to "http://help.dwolla.com/customer/portal/articles/484859-additional-requirements-for-sending-to-specific-merchants" which states the need to be dwolla verified to send to MtGox... I guess there was a big dwolla/btc scam going... I guess they have it straightened out now.
Also don't forget the MtGox fee for buying the BTC... it starts at .6% and goes down based on amount purchased I think...
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graham, im on the site now, i have read all the FAQ's. i cant figure out how to message a seller. What im trying to find out is if i need say $500 in an account how much cash do i need to give to the person? Could i do $5k in one day or is there a limit and they can flag or freeze your account? also, is there any issues with doing it in person or would you reccomend using there escrow service....which i guess wouldnt work for me as i need BTC and am not selling it so that is pointless for me.