Silk Road forums
Discussion => Security => Topic started by: aqualung on November 09, 2012, 02:40 am
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I've noticed you can use dwolla to buy bitcoins. Does anyone here have any experience with them? Will using dwolla compromise your identity in any way?
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I know this is old, but people might still stumble on it, so I figured I might as well give my input. I buy with bitinstant, and they ask for your name and number no matter how you pay them. I make a deposit at the store, but I think I might start using dwolla. Honestly, I can't see how it matter if the companies you're sending money with or to know your info. No one can possibly know where the coins are going; the system is set up so that we can all know something was sent, but no one can possibly where it came from or where it went to. So I suppose what matters is how much you trust the BTC system, and if you're using coins, you must trust it enough.
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Not to beat a dead horse... Dwolla itself requires valid information and a valid bank account of some sort in order to fund your account if I remember correctly. If you could some how falsify a picture of yourself, all the relative information, and it links to a bank account by all means have at it. From a security standpoint, they aren't handing out any of your information during a transaction depending on what you buy. A bitcoin exchange is just receiving money from a random Dwolla account and that is all they know. I've used Dwolla countless times for things other than bitcoins and they are a very large up and coming payment processing/transaction company with more pros than the major credit card companies. I'd preach Dwolla if it was possible as it takes all of the human interaction completely out of any Moneygram or bank deposits. Wait a couple days for your account funds to clear, buy coins, rinse and repeat.
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Have you tried sticking the tip in, just to see what it feels like? Tight and squishy, it's either in or out.
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with bitinstant, you can hand over fake info and get your money within 30 minutes after paying. dwolla, i "think" it requires real information. they are also freezing accounts like paypal, and have teamed up with big brother government.
i will never use dwolla - there are no benefits to using it for me.
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ive recently been using it for large cash deposits.
I can deposit a few thousand into the bank, initiate deposit into my dwolla account, then send the money to my mtgox account, then to blockchain, then to sr.
it ends up taking about a week to get the coins to SR (since mt gox has 200BTC withdrawl limit) but its much better than going to CVS 3 times a day for a week to get the same amount of coins (500$ limit), IMO.
I think i just need to be careful how much cash i deposit into said bank account.
Would it be more secure at all to open up checking accounts in multiple banks and have them all sync to dwolla, to dilute the amount of deposit cash in different accounts? would this help?
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Bump! Sounds like it would be suspect to have that many checking accounts. Then again I ain't no banker!
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It wouldn't be too out of the ordinary to have three or four checking accounts with different banks, but more than that may seem odd to anyone that could stumble across that information. As for cash deposits at the bank, if it were me I would keep all my deposits at 3 grand or slightly under just to avoid any reporting policies the bank has that the teller may initiate during the deposit.
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alright thanks for the comments
I actually do keep my deposit limit at 3000 haha
ill have to research it a bit more
thanks again
cheers
_seshat
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Yeah, sure it's secure.
So secure, that they want photo I.D.
The day I saw this on their blog, was the day I stopped using Dwolla for all of my deep web needs.
Great merchant. I wish them the best when it comes to legitimate purchases, but my dark web activity needs to stay just that way, DARK!
Just my opinion.