Silk Road forums
Discussion => Security => Topic started by: zobinstrumentum1 on February 19, 2013, 07:11 am
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i just need a few things cleared up so i can come closer to my first purchases
im close but i need to fully understand what to do with/how to use bitcoins
thanks to everyone that has helped me get this far
i either use bit-instant to credit my exchange account,or have them sent to my e-mail
do i need to make an account with an exchange ? if so whats a recommended one ? (other than mt.gox)
or do i just send them to my email then to my SR account ? do i need a bitcoin client to do this ?
if so whats a recommended bitcoin client
Security and anonymity are my main concerns that effect how i would like to go about this
im not fixated on using bit instant so alternative methods are welcome to be suggested
Basically what does a veteran SR member do to get bitcoins on their SR account ?
ive tried to use the search function but no lightbulbs are going off above my head when it comes to this subject
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i just need a few things cleared up so i can come closer to my first purchases
im close but i need to fully understand what to do with/how to use bitcoins
thanks to everyone that has helped me get this far
i either use bit-instant to credit my exchange account,or have them sent to my e-mail
do i need to make an account with an exchange ? if so whats a recommended one ? (other than mt.gox)
or do i just send them to my email then to my SR account ? do i need a bitcoin client to do this ?
if so whats a recommended bitcoin client
Security and anonymity are my main concerns that effect how i would like to go about this
im not fixated on using bit instant so alternative methods are welcome to be suggested
Basically what does a veteran SR member do to get bitcoins on their SR account ?
ive tried to use the search function but no lightbulbs are going off above my head when it comes to this subject
First of all, welcome.
I've used BitInstant 5-6 times within the last month, and I've had no problems at all (BTC in my SR wallet within about 1-2 hours max)
First of all, realize that buying BTC is legal - so you don't really need to worry too much about this part of the process. Bitinstant doesn't know where they're sending the BTC, they just send them.
That being said, I've used all my real info and made cash payments at CVS. They asked for my ID one time, the rest they haven't (it was the first time, and I've used 2 different locations). I've made all my transactions go directly to my SR BTC Wallet address.
In all of my transactions, I've received email confirmation from BitInstant by the time I get to my car that they've processed the payment.
Then I'll go home and go to blockchain.info to confirm that the transfer is in process...
Then I get my shopping cart ready for the purchase to go through, and within an hour (two at the most), the transaction is complete... PIN # and voila - done deal...
If you're ordering personal amounts (I've ordered upto a gram of H, a gram of MDMA crystals, and one OC-80) and had them all delivered directly to my address, using my real name. The USPS got too much going on to worry about that stuff and the vendors spend a lot of time making sure it is stealthy.
If you're ordering mass quantities or weed - I'm not too sure about, but I still think the quantity rule applies...
Best of luck with your first purchase - let us know if you need any further help.
~~ jshizzle23 ~~
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so blockchain.info is the bitcoin client ,right ?
instead of sending the transfer to my e-mail i send it to my
SR wallet address ?
do i sign up with my BTC address thats associated with my SR account ?
i dont think thats right but i wanna be sure im not missing something obvious
i thought im supposed to have bit-instant transfer BTC to a wallet i create on a client,like blockchain.info for ex.
then use the client to transfer funds to my SR BTC address
and then for every new transaction i create a new wallet with my client ,have bit instant transfer BTC to the new wallet
then again to my SR BTC address
does it matter what client i use ? bitcoin-qt ,armory,electrum,or blockchain.info
sorry for so many questions i do try to find these answers on my own,pouring through various FAQ's
i just dont want to risk my security because i went ahead and jumped the gun ,thinkin i knew what i was doing
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can some one help me ,or am i truly that ignorant ? :'(
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so blockchain.info is the bitcoin client ,right ?
instead of sending the transfer to my e-mail i send it to my
SR wallet address ?
do i sign up with my BTC address thats associated with my SR account ?
i dont think thats right but i wanna be sure im not missing something obvious
i thought im supposed to have bit-instant transfer BTC to a wallet i create on a client,like blockchain.info for ex.
then use the client to transfer funds to my SR BTC address
and then for every new transaction i create a new wallet with my client ,have bit instant transfer BTC to the new wallet
then again to my SR BTC address
does it matter what client i use ? bitcoin-qt ,armory,electrum,or blockchain.info
sorry for so many questions i do try to find these answers on my own,pouring through various FAQ's
i just dont want to risk my security because i went ahead and jumped the gun ,thinkin i knew what i was doing
Yes, have it sent to your wallet address. Some people like to send the bitcoins to various other wallets before sending them to SR, but it's totally up to you. SR has its own coin tumbler built in.
Yes, you can use your SR address -- there is nothing in it that tells people "HEY, THIS WALLET IS ON SR FOR DRUGS!" ... there is nothing that distinguishes it from non-SR wallets. Again, whether or not you send directly here is up to you.
You do not need to create a new intermediary wallet for every new transaction. The most important thing to do is get a new bitcoin deposit address on SR every once in awhile.
No, it doesn't matter which you use. I like blockchain.info's wallet, personally.
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so blockchain.info is the bitcoin client ,right ?
www.blockchain.info is where you can go to verify that your transaction was actually made (you would enter your BTC wallet address and it would show you when and how many BTC were transferred - its just a means of verification).
instead of sending the transfer to my e-mail i send it to my SR wallet address ?
sending it directly to your SR wallet address will be the easiest & least confusing way - it will go directly from BitInstant's BTC wallet address to yours - remember, its completely legal to do this, so there's no need to push it through several layers or try to hide it
do i sign up with my BTC address thats associated with my SR account ? i dont think thats right but i wanna be sure im not missing something obvious
Ok, so I just went to the BitInstant website and the option to send it directly to a bitcoin address is GONE - don't know what happened, but this screws me up as well, because I don't have any kind of mtgox account or anything of that nature. BUT I am going to go get some BTC via BitInstant tomorrow, so I'm going to need to set up an mtgox account, as well. Not sure if you've done this, but I will be able to walk you through this after I've done it myself (which will be right after I post this).
i thought im supposed to have bit-instant transfer BTC to a wallet i create on a client,like blockchain.info for ex., then use the client to transfer funds to my SR BTC address
I think you're going to need a 3rd party wallet like mtgox -- I'm going to look into this, but I'm going to find a solution that works for both BitInstant and doesn't cost anything to setup/use - with BTC @ $30, I'm not trying to pay any fees besides what I pay to BitInstant and ZipZap (ZipZap receives the money for BitInstant and charges $3.95 for the transfer from MoneyGram to BitInstant (not sure if you were aware of this or not) - then BitInstant charges 3.99% of however much you deposit less the $3.95).
and then for every new transaction i create a new wallet with my client ,have bit instant transfer BTC to the new wallet then again to my SR BTC address
No, then every transaction with BitInstant, you'll give them your mtgox account (or whichever option I find to be free or the least expensive of what's left on BitInstant).
As of right now, when I select Cash Deposit, here's the options that BitInstant gives me: MtGox, Paypal, Bitstamp, Virwox, VouchX, BTC-e.com
does it matter what client i use ? bitcoin-qt ,armory,electrum,or blockchain.info
Bitcoin clients are just offline wallets that you control - it's like having the bitcoin in your pocket, whereas if you put it in your SR wallet, its like putting it in the bank (if you have a lot of bitcoin (or enough bitcoin that you would freak out if you lost it), then you would want to put it in your client wallet, I suggest just keeping it in your SR wallet that way it's always ready for use - but its up to you where you want to keep it, if you're not using it.
sorry for so many questions i do try to find these answers on my own,pouring through various FAQ's
i just dont want to risk my security because i went ahead and jumped the gun ,thinkin i knew what i was doing
Better to ask questions before you shoot - we are here to help - and this thread will be helpful to someone in the future, for sure.
Let me go check out MtGox real quick and I'll get back to you ASAP.
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OK - that was simple.
Just go to MtGox.com and setup an account - I suggest using your real info (easier to remember, if there's ever a problem and they need to verify you, then you can, if you use fake info, and you lose BTC for example, say bye-bye...
You DO NOT have to verify your account - it just gives you higher limits (right now your limit is like 200BTC PER DAY, which I doubt you'll be doing that much business), either way, like I said, its legal to buy/sell bitcoin.
When you go to "Deposit Funds" there is an option for BitInstant - when you select BI - it will give you an account number to put on the BitInstant fill-in form - no big deal!!
The most confusing part is understanding the difference between BitInstant and ZipZap. If you need help with that - just let us know how you're going to pay your cash deposit (CVS, Walmart, etc...) and we can help you out...
Thanks Scout for jumping in there - I was very surprised to see 2 responses while I was typing out my response... lol
=)
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OK - not so simple. Looks like someone had some problems when they went to withdraw the funds to a BTC wallet address - they needed the account verified, so if you plan on using fake info, MtGox might be a no-go. Not sure if that's a one-off or something that happens consistantly - never had to deal with it.
Here's a thread about BitInstant - it looks as though the removal of the Cash Deposit -> BTC Wallet Address being removed is just temporary - it was supposed to be back up yesterday, but as of now, it's still not up. http://dkn255hz262ypmii.onion/index.php?topic=120877.0
When are you planning on making your first transaction?? If it is SOON, you may want to look into something called Blue Sky Traders or cryptocurrent (both are through the SR forums, I guess...) Blue Sky took a 4.2% fee according to one person's post and I think it said cryptocurrent was at 5%?? Don't quote me - you'd have to look into it, but I didn't want to send you down the wrong path (luckily you can't moneygram right now, or else you might be off to deposit and I'd feel terrible...)
Hope this helps..
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no its fine Jshizzle, i read both those threads yesterday while trying to figure this out,
which led to some confusion as you can imagine
im just gonna wait it out and hopefully bit instant will bring it up soon
as now im confident i understand how that is supposed to work thanks to you and scout
you guys rock !
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been waiting on my coins from bit instant for 6 days now. They are having some delays is what they keep telling me
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no its fine Jshizzle, i read both those threads yesterday while trying to figure this out,
which led to some confusion as you can imagine
im just gonna wait it out and hopefully bit instant will bring it up soon
as now im confident i understand how that is supposed to work thanks to you and scout
you guys rock !
Glad we could help, +1 karma for figuring it all out and best of luck on your order, when you finally are able to do it...
You have much more patience than I, I would've already been looking for an alternative because I wasn't as smart as you... I shot first, asked questions last... lol