Silk Road forums
Discussion => Security => Topic started by: trashcat on October 27, 2012, 07:37 am
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Hello, I've spent quite some time researching the acquisition of bitcoins and it seems that just recently bitinstant has removed the option to deposit directly to a bitcoin wallet. Virtually every guide recommends this function that is no longer available. Through my research, I have come across two workarounds, but I do not feel very comfortable about them.
1. bitinstant->mtgox->tumbler->blockchain->SR wallet
2. find a vendor on SR, buy bitcoins from him. ->blockchain->SR wallet
The issues I have with 1. is that tumblers increase the amount of money spent per bitcoin and that mtgox requires personal information (not entirely sure about that, speculation). I honestly do not understand how SR bitcoin vendors work.
My question is if anybody knows of any bitcoin vendors that I can still use a bank deposit or CVS/Walmart that I can purchase the bitcoins from and send them directly to my blockchain wallet?
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MTgox doesn't require any personal information to set up an account. After signing up, there's some mention about the option to get "verified." This is were you'd have to provide personal information, but it isn't necessary for basic transactions. Just this evening I used @CVS bitinstant>mtgox>instawallet>SR to transfer >$200. I thought about using instawallet x2, but didn't think it necessary. Seemed like a safe enough method to me. *shrugs*
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Is instawallet the same thing as blockchain? If so I may want to attempt your way. The issue with that way is that you have to access mtgox with clearnet (I believe). And if you are on clearnet you aren't exactly secure. Does instawallet tumble the coins? Should I use a tumbler if I attempt your route?
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I tried going through MTGOX at first, but I ran into some wall where it wouldn't let me proceed for whatever reason.
I'm trying out bitcoinary now, trying to work out a deal for some BTC.
Failing this I'm going to try to find someone locally to sell my BTC for cash tomorrow.
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Really, I just followed the guide @199 here:http://dkn255hz262ypmii.onion/index.php?topic=26058.195 . I'm too new to btc to give any kind of advice, but from what I understand, since SR tumbles the btc many times during the process of loading/purchasing goods with/sending your btc, it's enough to just run it through 1 instawallet, though 2 if you want to be extra careful. But you're right about not being able to use tor with MTgox. They have a douchey advisory on their home page about how they'll fuck with your account if they catch you. I'm definitely hoping bitinstant reinstates those options to send directly to a wallet address, but it seems like this method is safe 'enough' if you need the btc right away, or want to take advantage of the lower value atm.
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Yeah, I've read the entire guide but it doesn't elaborate on any mtgox interactions. It looks like to create an account on mtgox I need to use an email? Do I need to create a tormail now for this or do I never have to actually activate the account I make?
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I'm having the same problems as everyone with using bitinstant for a cash deposit for BCs. Not only did they lose some options (coinapult, etc) when I try to do cash deposit via bitinstant and it takes me to trustcash to do the deposit slip that interface is broken so it never allows you to select the deposit option and print the slip, etc. So I'm trying Blue Sky Traders this morning. This is my third post on the topic so I'm going to start sounding like a sales employee - but I'm just a roadder who was freaking a little that I couldn't buy coins for a couple days. They have positive feedback and while I'm not psyched about it going directly to my SR account vs. a wallet or via email I can always move it to where I need it to in order to spend them wherever I want. I'll follow up with a post about how it went. On the positive side, you pay less in fees with this vendor because you're not losing a cut to as many people.
Their SR page is http://silkroadvb5piz3r.onion/index.php/silkroad/user/9f0dd63e28
Please post if you find another reliable work around. It can't hurt to have a few backup options for future problems.
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Yeah I'm about to try the Blue Sky option as well. I haven't found any other real work arounds. I'm looking at BlueSky and they say that we make an anonymous deposit to their account to receive our bitcoins, I'm not sure exactly what this means. Can you clarify on the process? It seems that it is similar to how it would work with bitinstant if you did a bank deposit option but I have never done that. Also, how do you actually order from them?
EDIT: Also, if we need to put say, $130 worth of cash in, do we put 1 order of $100 and 3 orders of $10 and then do 1 bank of america deposit for 130 or 4 deposits for 100/30x3? I am a tad confused.
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Yeah I'm about to try the Blue Sky option as well. I haven't found any other real work arounds. I'm looking at BlueSky and they say that we make an anonymous deposit to their account to receive our bitcoins, I'm not sure exactly what this means. Can you clarify on the process? It seems that it is similar to how it would work with bitinstant if you did a bank deposit option but I have never done that. Also, how do you actually order from them?
EDIT: Also, if we need to put say, $130 worth of cash in, do we put 1 order of $100 and 3 orders of $10 and then do 1 bank of america deposit for 130 or 4 deposits for 100/30x3? I am a tad confused.
It means you anonymously make a cash deposit to our bank account, and we send your bitcoins wherever you want. This process is exactly the same as with the old Bitinstant system--but they changed and won't send to a specific bitcoin address. We will. Most folks opt to have it directly transferred to their SR account. We can send them to any bitcoin address, of course, but prefer SR direct deposit because it's instant, and facilitates SR transaction auditing.
When ordering, please choose just one of whatever item interests you. In the address box on the shopping cart, you can specify your trade amount.
Thanks for your interest in our services!
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Just wanted to follow up on my experience with Blue Sky Traders. Placed an "order" through SR, got deposit instructions and a quote with how many BCs I'd be getting for the deposit amount, went to make the deposit and before I got back home from making the cash deposit the money was already in my SR account. Very quick. Quickest way by far I've ever gotten bitcoins and yet the same work or less on my end then my usual bitinstant cash deposit. Good communication, quick processing, reasonable fee. I would use again and recommend!
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Im surprised blusky hasnt gotten themselves or someone else busted yet, posting their banking info on an illegal drug forum kinda defeats teh whole purpose of anonymity eh?
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Im surprised blusky hasnt gotten themselves or someone else busted yet, posting their banking info on an illegal drug forum kinda defeats teh whole purpose of anonymity eh?
but buying/selling bitcoins isn't illegal
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BlueSky seemed overpriced from when I looked at the exchange rates today. Mt.Gox was listing at 10.5 yet the cost per bitcoin from BlueSky was 11.5.
That seemed in vast contrast to the example they provided in the FAQ that took a sampling of the Mt Gox price to compare it with their own that differed IIRC by about 30 to 40 cents. With that type of margin I'd just as soon stick with BitInstant, especially since you can make your deposit at any 7-11 open 24/7 instead of having to go to a bank.
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BlueSky seemed overpriced from when I looked at the exchange rates today. Mt.Gox was listing at 10.5 yet the cost per bitcoin from BlueSky was 11.5.
That seemed in vast contrast to the example they provided in the FAQ that took a sampling of the Mt Gox price to compare it with their own that differed IIRC by about 30 to 40 cents. With that type of margin I'd just as soon stick with BitInstant, especially since you can make your deposit at any 7-11 open 24/7 instead of having to go to a bank.
i think lots of people would like to still use Bitinstant...have you tried in the last two days? It's not working for most people. Bitinstant>Blockchain or isn't an option anymore, and Bitinstant>MtGox gives an error...
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BlueSky seemed overpriced from when I looked at the exchange rates today. Mt.Gox was listing at 10.5 yet the cost per bitcoin from BlueSky was 11.5.
That seemed in vast contrast to the example they provided in the FAQ that took a sampling of the Mt Gox price to compare it with their own that differed IIRC by about 30 to 40 cents. With that type of margin I'd just as soon stick with BitInstant, especially since you can make your deposit at any 7-11 open 24/7 instead of having to go to a bank.
Really? One day out of 5 months of constantly having better rates, and you skewer us? Did you mention the volatility of the market that day? Did you mention that we have consistently had better rates than anyone else? We publish our rates, and differentials. You know exactly what you get from us in a deal. Any other vendor quite this transparent?
Doesn't matter, we aren't competing on rates any longer. We're still quick and convenient. If folks still trade with us, good. If not, we'll move aside quietly.
Peace, we're out.
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I read somewhere on here that bitinstant will have the cash deposit to bitcoin address by monday, they are just having technical difficulties.
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I read somewhere on here that bitinstant will have the cash deposit to bitcoin address by monday, they are just having technical difficulties.
Edit to correct myself: https://bitcointalk.org/index.php?topic=120749.msg1300644#msg1300644
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i think lots of people would like to still use Bitinstant...have you tried in the last two days? It's not working for most people. Bitinstant>Blockchain or isn't an option anymore, and Bitinstant>MtGox gives an error...
Yeah I'm aware of the inability to use your blockchain wallet any longer. But I had no problem using it to post to mt.gox.
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Really? One day out of 5 months of constantly having better rates, and you skewer us? Did you mention the volatility of the market that day? Did you mention that we have consistently had better rates than anyone else? We publish our rates, and differentials. You know exactly what you get from us in a deal. Any other vendor quite this transparent?
Just going off what I saw from checking you out for the first time from your plug on this thread and providing my first impression. Not sure why you're so defensive and attack me for "skewering" you when I'm just being a smart and discerning buyer. I have no way of verifying your claim that for 5 months you've had "better rates".
But then again, of course it doesn't matter since you just announced you're not competing on rates any longer anyway. So it begs the question as to what your original point was.
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I miss the straight to Bitcoin address option but Moneygram to Mt. Gox has been working just fine. You can decide yourself if you want to route it through some other BC wallet first or send it directly from Mt. Gox to SR. I've read that SR's tumbler is pretty good so I just transfer my BC directly.
I got two different responses when I tormailed support:
First was this:
"TrustCash is no longer providing Bitinstant with payment services.
TrustCash LLC
Kent Carasquero,President"
Then today I got an email from Bitinstant saying that it seems to possibly be a technical glitch. So now I don't know what to think.
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I miss the straight to Bitcoin address option but Moneygram to Mt. Gox has been working just fine. You can decide yourself if you want to route it through some other BC wallet first or send it directly from Mt. Gox to SR. I've read that SR's tumbler is pretty good so I just transfer my BC directly.
I got two different responses when I tormailed support:
First was this:
"TrustCash is no longer providing Bitinstant with payment services.
TrustCash LLC
Kent Carasquero,President"
Then today I got an email from Bitinstant saying that it seems to possibly be a technical glitch. So now I don't know what to think.
Sounds to me like some authorities are starting to either ask questions or throw their weight around, and TrustCash decided they're done... I really don't know why else they'd abruptly cut their service -- so abruptly that apparently BitInstant's customer service isn't even aware of it -- if it was profitable. And I can only assume it was very profitable. Maybe they got approached with demands to start keeping more records, and modifying their entire process would have been too costly. I dunno.
I have no evidence to support this except for what's in this thread, so you can draw your own conclusions.
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I've never had any problem with funding through MtGox. I can't even remember if they wanted an email address, if they do just use some throwaway address.
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I have an account on mt.gox, I'd prefer to use it as I just recently used it with a bitinstant cash deposit. I've read a couple posts about how it'll be available again "soon" but that's not substantiated and I don't want to be left without a viable option.
How does moneygram on mt.gox work? I've googled it, searched the website and all that and I'd rather hear it from someone who uses it. Walmart is everywhere and I can always find somewhere else to use it.
Any and all help is greatly appreciated. :)
EDIT: I feel royally stupid, I've just figured out how to use it. Sorry for the wasted space!