Silk Road forums

Discussion => Security => Topic started by: f1k4sDfsSfkLs987881 on July 19, 2012, 11:35 am

Title: Extracting BitCoin Safely
Post by: f1k4sDfsSfkLs987881 on July 19, 2012, 11:35 am
Hello all,

Benn searching and dont see anything straight to the point so I would just like to ask, what are the best methods for "cashing-out" your bit coin safely from SR to a bitwallet?  I am completely new, and have done all my homework, but I would like to hear from the people here who actually perform this task often.    ??  Just specifically regarding the actual cash out process, because the pinned-thread regarding all-in-one anon uses of SR is great for everything, just want to clarify is all.

My skepticism comes from the FBI being able to track physical btc-to-money transactions via third-party exchanges etc such as mt gox.

Please advise.

Thanks
Title: Re: Extracting BitCoin Safely
Post by: vlad1m1r on July 19, 2012, 04:59 pm
Hello all,

Benn searching and dont see anything straight to the point so I would just like to ask, what are the best methods for "cashing-out" your bit coin safely from SR to a bitwallet?  I am completely new, and have done all my homework, but I would like to hear from the people here who actually perform this task often.    ??  Just specifically regarding the actual cash out process, because the pinned-thread regarding all-in-one anon uses of SR is great for everything, just want to clarify is all.

My skepticism comes from the FBI being able to track physical btc-to-money transactions via third-party exchanges etc such as mt gox.

Please advise.

Thanks

Hi F1,

Your skepticism is both healthy and correct!

I am currently reading up on US AML (Anti Money Laundering) practices and see that USD 10,000 seems to be the magic number but as with here in the UK other types of activity can lead to a report being filed with the local Financial Crimes Unit including transfers from a particular account such as that used by an exchange - in fairness I am not aware of this happening in the UK but then I don't work in that area of banking any more!

I operate a service selling Bitcoins for cash in the mail and also assist vendors to receive cash in the mail in exchange for their Bitcoins for a small commission. This is by far the safest method to cash out as it is "off the books" - once you have your wad of cash of course you then need to "layer" it with legitimate proceeds from a business and/or spend it on consumables like food or rent in order to make sure you leave no paper trail.

The No. 1 user to speak to for laundering large amounts of cash is Limetless, one of our forum Moderators. If you need help with smaller amounts i.e less than USD 3,000 then feel free to send me a message.

All the best,

V.

Title: Re: Extracting BitCoin Safely
Post by: Limetless on July 19, 2012, 05:06 pm
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)
Title: Re: Extracting BitCoin Safely
Post by: f1k4sDfsSfkLs987881 on July 19, 2012, 05:10 pm
Hi F1,

Your skepticism is both healthy and correct!

I am currently reading up on US AML (Anti Money Laundering) practices and see that USD 10,000 seems to be the magic number but as with here in the UK other types of activity can lead to a report being filed with the local Financial Crimes Unit including transfers from a particular account such as that used by an exchange - in fairness I am not aware of this happening in the UK but then I don't work in that area of banking any more!

I operate a service selling Bitcoins for cash in the mail and also assist vendors to receive cash in the mail in exchange for their Bitcoins for a small commission. This is by far the safest method to cash out as it is "off the books" - once you have your wad of cash of course you then need to "layer" it with legitimate proceeds from a business and/or spend it on consumables like food or rent in order to make sure you leave no paper trail.

The No. 1 user to speak to for laundering large amounts of cash is Limetless, one of our forum Moderators. If you need help with smaller amounts i.e less than USD 3,000 then feel free to send me a message.

All the best,

V.

You are the bloke ill be dealing with then! I will be getting at you for your services asap.  Can you pm some commissions etc?  Thanks

Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I hear good things.  Once I graduate from V's mentoring, I will deal to you! sooner than later brother!
Title: Re: Extracting BitCoin Safely
Post by: Limetless on July 19, 2012, 05:21 pm
No worries mate. Come and speak to me when you need to get rid of $5000 per calender month consistently, I generally take clients that hit the $3000+ per month mark and then vet them in some other areas too. I only take clients that sell illegal products.
Title: Re: Extracting BitCoin Safely
Post by: vlad1m1r on July 19, 2012, 05:48 pm
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I have described Lim before as the "Napoleon of Crime" - as you can see from his preference for criminals as clients! You're an inspiration to us all, I salute you :-)

F1 - I will send you a message as soon as I get a chance this evening.

V. 
Title: Re: Extracting BitCoin Safely
Post by: LouisCyphre on July 20, 2012, 06:54 am
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I have described Lim before as the "Napoleon of Crime" - as you can see from his preference for criminals as clients! You're an inspiration to us all, I salute you :-)

Now you've made me want to go and watch Sherlock again!  Damn it!  ;)
Title: Re: Extracting BitCoin Safely
Post by: f1k4sDfsSfkLs987881 on July 20, 2012, 11:23 am
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I have described Lim before as the "Napoleon of Crime" - as you can see from his preference for criminals as clients! You're an inspiration to us all, I salute you :-)

Now you've made me want to go and watch Sherlock again!  Damn it!  ;)

haha!
Title: Re: Extracting BitCoin Safely
Post by: Limetless on July 20, 2012, 11:24 am
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I have described Lim before as the "Napoleon of Crime" - as you can see from his preference for criminals as clients! You're an inspiration to us all, I salute you :-)

F1 - I will send you a message as soon as I get a chance this evening.

V.

Were just a more interesting bunch lol. Laundering cash is more academically challenging than just avoiding tax anyway, anyone can avoid tax.
Title: Re: Extracting BitCoin Safely
Post by: f1k4sDfsSfkLs987881 on July 20, 2012, 11:26 am
Couldnt agree more.  In my old industry I was involved with anti ML protocols! hahah irony!
Title: Re: Extracting BitCoin Safely
Post by: vlad1m1r on July 20, 2012, 08:05 pm
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I have described Lim before as the "Napoleon of Crime" - as you can see from his preference for criminals as clients! You're an inspiration to us all, I salute you :-)

Now you've made me want to go and watch Sherlock again!  Damn it!  ;)

Gave you my number... thought you might call.. :-D

V.
Title: Re: Extracting BitCoin Safely
Post by: Limetless on July 20, 2012, 08:14 pm
Couldnt agree more.  In my old industry I was involved with anti ML protocols! hahah irony!

Yeah I have quite a few friends that work at banks and some of them work in AML and contrary to their own belief they are ridiculously slow on the uptake. For example most mainstream banks couldn't recognize a Reverse Property Flip even if they fell over on after it's mate hit it in the face with a shovel. In fact AML isn't really something that most banks take too seriously at a corporate level, look at the Hong Kong Singapore Banking Corporation and the scandal over them quite willingly washing quite literally Billions of USD in their Mexican branches. You can almost guarantee that of the $7Bil that HSBC attempted to ship to the U.S at least $2-3Bil of that was bent money either coming directly from drug sales or businesses funded by or for the purpose of laundering drug money.

Title: Re: Extracting BitCoin Safely
Post by: vlad1m1r on July 20, 2012, 08:26 pm
Couldnt agree more.  In my old industry I was involved with anti ML protocols! hahah irony!

Yeah I have quite a few friends that work at banks and some of them work in AML and contrary to their own belief they are ridiculously slow on the uptake. For example most mainstream banks couldn't recognize a Reverse Property Flip even if they fell over on after it's mate hit it in the face with a shovel. In fact AML isn't really something that most banks take too seriously at a corporate level, look at the Hong Kong Singapore Banking Corporation and the scandal over them quite willingly washing quite literally Billions of USD in their Mexican branches. You can almost guarantee that of the $7Bil that HSBC attempted to ship to the U.S at least $2-3Bil of that was bent money either coming directly from drug sales or businesses funded by or for the purpose of laundering drug money.

Amen to that bro - HSBC compliance and KYC procedures are a joke even at my own bank. Who knew eh? :-)

V.
Title: Re: Extracting BitCoin Safely
Post by: Limetless on July 20, 2012, 11:58 pm
Couldnt agree more.  In my old industry I was involved with anti ML protocols! hahah irony!

Yeah I have quite a few friends that work at banks and some of them work in AML and contrary to their own belief they are ridiculously slow on the uptake. For example most mainstream banks couldn't recognize a Reverse Property Flip even if they fell over on after it's mate hit it in the face with a shovel. In fact AML isn't really something that most banks take too seriously at a corporate level, look at the Hong Kong Singapore Banking Corporation and the scandal over them quite willingly washing quite literally Billions of USD in their Mexican branches. You can almost guarantee that of the $7Bil that HSBC attempted to ship to the U.S at least $2-3Bil of that was bent money either coming directly from drug sales or businesses funded by or for the purpose of laundering drug money.

Amen to that bro - HSBC compliance and KYC procedures are a joke even at my own bank. Who knew eh? :-)

V.

Haha yeah for sure. I was actually considering showcasing RPF's on here, but not sure if it'd be wise. I quite like the idea of teaching people stuff like that but at the same time it'd be silly to do it openly. I'll be honest, it'd also be so I could show off a bit as well but I like to share the wealth sometimes.
Title: Re: Extracting BitCoin Safely
Post by: LouisCyphre on July 21, 2012, 07:38 am
Lol yes Vlad you are correct...I am a rather bad mother fucker. ;)  8)

I have described Lim before as the "Napoleon of Crime" - as you can see from his preference for criminals as clients! You're an inspiration to us all, I salute you :-)

Now you've made me want to go and watch Sherlock again!  Damn it!  ;)

Gave you my number... thought you might call.. :-D

There's a Richard Brooke here to see you.
Title: Re: Extracting BitCoin Safely
Post by: LouisCyphre on July 21, 2012, 07:44 am
Couldnt agree more.  In my old industry I was involved with anti ML protocols! hahah irony!

Yeah I have quite a few friends that work at banks and some of them work in AML and contrary to their own belief they are ridiculously slow on the uptake. For example most mainstream banks couldn't recognize a Reverse Property Flip even if they fell over on after it's mate hit it in the face with a shovel. In fact AML isn't really something that most banks take too seriously at a corporate level, look at the Hong Kong Singapore Banking Corporation and the scandal over them quite willingly washing quite literally Billions of USD in their Mexican branches. You can almost guarantee that of the $7Bil that HSBC attempted to ship to the U.S at least $2-3Bil of that was bent money either coming directly from drug sales or businesses funded by or for the purpose of laundering drug money.

Amen to that bro - HSBC compliance and KYC procedures are a joke even at my own bank. Who knew eh? :-)

V.

Haha yeah for sure. I was actually considering showcasing RPF's on here, but not sure if it'd be wise. I quite like the idea of teaching people stuff like that but at the same time it'd be silly to do it openly. I'll be honest, it'd also be so I could show off a bit as well but I like to share the wealth sometimes.

Well I wouldn't mind learning about some of this stuff, even though I don't actually have a need for it at this stage (I'm not a vendor and don't plan on becoming one).

Have you considered writing your own ebook and then selling that on SR?
Title: Re: Extracting BitCoin Safely
Post by: f1k4sDfsSfkLs987881 on July 21, 2012, 08:54 am
Couldnt agree more.  In my old industry I was involved with anti ML protocols! hahah irony!

Yeah I have quite a few friends that work at banks and some of them work in AML and contrary to their own belief they are ridiculously slow on the uptake. For example most mainstream banks couldn't recognize a Reverse Property Flip even if they fell over on after it's mate hit it in the face with a shovel. In fact AML isn't really something that most banks take too seriously at a corporate level, look at the Hong Kong Singapore Banking Corporation and the scandal over them quite willingly washing quite literally Billions of USD in their Mexican branches. You can almost guarantee that of the $7Bil that HSBC attempted to ship to the U.S at least $2-3Bil of that was bent money either coming directly from drug sales or businesses funded by or for the purpose of laundering drug money.

Amen to that bro - HSBC compliance and KYC procedures are a joke even at my own bank. Who knew eh? :-)

V.

Haha yeah for sure. I was actually considering showcasing RPF's on here, but not sure if it'd be wise. I quite like the idea of teaching people stuff like that but at the same time it'd be silly to do it openly. I'll be honest, it'd also be so I could show off a bit as well but I like to share the wealth sometimes.

Well I wouldn't mind learning about some of this stuff, even though I don't actually have a need for it at this stage (I'm not a vendor and don't plan on becoming one).

Have you considered writing your own ebook and then selling that on SR?

book woul go down well, but then you wouldnt be able to specifics of each persons situation, you would just be covering a wide variety of contingencies etc
Title: Re: Extracting BitCoin Safely
Post by: LouisCyphre on July 21, 2012, 09:01 am
Haha yeah for sure. I was actually considering showcasing RPF's on here, but not sure if it'd be wise. I quite like the idea of teaching people stuff like that but at the same time it'd be silly to do it openly. I'll be honest, it'd also be so I could show off a bit as well but I like to share the wealth sometimes.

Well I wouldn't mind learning about some of this stuff, even though I don't actually have a need for it at this stage (I'm not a vendor and don't plan on becoming one).

Have you considered writing your own ebook and then selling that on SR?

book woul go down well, but then you wouldnt be able to specifics of each persons situation, you would just be covering a wide variety of contingencies etc

It'd still be good for those interested to get a general understanding of what's involved with some decent examples.  There'd be nothing stopping people wanting to dive deeper into matters specific to their situation from contacting Lim for personal training.  No doubt anyone who needed that would do so anyway.