Silk Road forums
Discussion => Security => Topic started by: fattysquirrel on July 26, 2011, 09:21 pm
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Well I guess I got my deposit in just in time. I made my first BTC transfer into SR yesterday and made my first purchase :). After all the time it took getting everything set up it felt pretty good. I went the route of :
Bank account - Dwolla - Trade Hill - mybitcoin.com - SR
apparently it was a good decision to transfer all the funds I had with Dwolla to Trade Hill since they are no longer accepting deposits from them. I assume this new TH policy started either yesterday or today? I just noticed it for the first time a short while ago when I checked out my TH account. I do have a couple of concerns. I only bought a small amount of coins and then transferred just 1 at first, and then the rest to the mybitcoin.com and then to SR, just to make sure I knew what I was doing and it all worked out fine. So now I have a few hundred dollars in my TH account still from the rest(majority) of my Dwolla deposit. I'm not to worried, but anyone think I should be concerned with these funds sitting in my TH account since they came from Dwolla? If you read over the info that TH posted detailing why they no longer take Dwolla deposits it talks about people using Dwolla as a scam. I assume if they were going to do anything about funds that had come from Dwolla, they would have done it at the same time they decided to stop taking deposits from them.
Another concern of mine is using mybitcoin.com. Since setting up that account and using it to make my first couple of transactions to SR I came across multiple bad reports about people losing coins with the service. I Saw some accounts on these forums as well as on the main bitcoin forums. So, is there a good reason not to just transfer my coins from TH strait to SR? And if that is ill advised, how should I go about getting the rest of the coins I purchase from TH to SR? I've seen talk about the bitcoin 'client'...I know my way around a computer somewhat well, but not really sure what the client exactly does for a person. I'm assuming it's a program I can put on my computer and use as a wallet in place of mybitcoin.com? If so, where do I go to DL the client?
Any help to my questions would be great, also looking for a discussion on TH's new policy of not taking Dwolla deposits. I read in the article on TH that the majority of the US funds that TH receives are from Dwolla, any chance this new policy might affect the short term price of coins? I would think there will be a drop in demand if less people are able to easily get cash into TH accounts. O, let me throw a link to the TH post: http://tradehillblog.com/
- fattysquirrel
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Look into Liberty Reserve.
Liberty Reserve website.
Find LR Exchanger on site.
WU Exchanger.
Go to Sleep.
Wake up.
Check LR exchanger or LR account.
Send LR to Tradehill.com
All in less than 24 hours.
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Look into Liberty Reserve.
Liberty Reserve website.
Find LR Exchanger on site.
WU Exchanger.
Go to Sleep.
Wake up.
Check LR exchanger or LR account.
Send LR to Tradehill.com
All in less than 24 hours.
Hey i see ur quite a fan of WU. What are the chances of using a fake name for WU and getting fucked by an LR exchanger?
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I've never used a real name to buy but the down side is if something goes wrong you cant get your WU money back without ID.
also you can fake your LR info too.
Except i might use a functioning email in case.
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Why thank you Mr. Bloodbath ;D Your words are very reassuring.
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In the US you can use WU without ID
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The fees you encounter might be a deal breaker but that all depends on your choice of exchanger.
Also I'm not responsible for any funds you may loose in any btc transaction ever involving this or any other absurd situation anyone can dream up. :D
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From the article on TradeHill's website:
"TradeHill has done millions of dollars of business with Dwolla and is their second largest customer."
Which means: Mt. Gox is their #1 customer. Dwolla is a bank, so SR has it's own drug bank. COOOOL!!! I hope those anti-BTC guys don't read TradeHill's site. They might eventually figure out what it took me (and anyone with a functioning brain) all of 0.014 seconds to figure out. ;)
I would think that TradeHill stands a better chance of going out of business without Dwolla than the reverse. TH might have just overplayed their hand....
@Nomad-could you tell a little birdie which exchanger to use at LR? I am piss poor at understanding their fees structure. And which place offers the best nameless reloadable debit card. I studied all of them last night and ended up with cold cream of wheat for brain cells.
You could send me a pm if you didn't want to put it up on zee board? much gracias senor!
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How do I put this eloquently....Dwolla SUCKS. Don't use them. I'd pay extra on Ebay buying BTC, using my real name, before using Dwolla again.
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Dwolla worked just fine for me personally. Took a little while longer than I would have liked to get the account opened and bank accounts verified. But other than that my experience was good. Although, that is neither here nor there, since if you use Trade Hill to purchase your coins, Dwolla isn't an option anymore.
What problems did you encounter with Dwolla that you would prefer to spend ridiculous prices on ebay happytree? Also, like nomad pointed out, there are other options besides just Dwolla and ebay.
-fattysquirrel
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Dang that blows i was used to using dowlla never had a bad experience how can i obtain bitcoins now ? Is Mt Gox a good way to go or any other suggestions yall i need some BTC please help??
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mtogx has had its problems, but is still the most used exchange.
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What problems did you encounter with Dwolla that you would prefer to spend ridiculous prices on ebay happytree? Also, like nomad pointed out, there are other options besides just Dwolla and ebay.
-fattysquirrel
--Customer service (non existent) aside from what they did to Tradehill.
--Well over 4 business days to transfer funds from bank account to Dwolla (then another day to get to Mt Gox) then another day to SR
--Non secure information on profile. Meaning, someone can grab your bank account, and set up a completely non-matching account under Dwolla, change name and continue using (and there is no cross-checking, or any process).
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--Non secure information on profile. Meaning, someone can grab your bank account, and set up a completely non-matching account under Dwolla, change name and continue using (and there is no cross-checking, or any process).
WHOA! WTF? Tell me more about this!
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They should only allow one bank account to one person. That would solve most of the issues, correct? I assume that they aren't doing that.. So, once my bank account is in the system, that account is attached to me. but it looks like that isn't the case..
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Not following. You mean someone with a different log-on could use your account?
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it MEANS your name does NOT have to match the bank account in the verification, AND the name/email, ANY of that info can be changed at the click of a button. So unsecured, it's beyond reddic.
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Dwolla suspended my account for no reason. my account had $500 in it and now i cant get it back. they are a bunch of crooks if you ask me. they tell me my routing info was incorrect,but if it was incorrect, then how come they successfuly got $500 from my checking? assholes....
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I think TH is accepting Dwolla again. Last time I went to their site their announcement was gone and they were listed as one of the companies that they work with.. I dont use TH much, so I can't say for sure..
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the whole bank=>dwolla=>tradehill process took five days to complete. no problems, it just took forever. i like tradehill. once you have funds all you have to do is place you bid and the transaction is instant. i set up accounts with mix and match emails, weird names and excessively long and complicated passwords. i think it is a good idea to not be able to remember any of your passwords. a flash usb works great, or just writing them down for quick reference.