Silk Road forums
Discussion => Security => Topic started by: SouthSquareBiz on July 23, 2013, 09:54 pm
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Hi, fellow vendors and high end buyers on The Road!
Look, I have tried and tried and tried not to start a thread about this, but my partner and I have seriously, seriously been considering becoming vendors.
Our main concern is liquidity. I am a buyer here. My partner is not, so I have never really given it too much thought, to be honest.
However once we drew up a business plan, I saw that it could be potentially quite lucrative and my partner does have a valid question.
How quickly can we turn btc purchases into cash or money order?
Is there a trustworthy vendor that will deal with massive amounts of cash or is our best bet to trust a btc exchanger to cut us money orders?
The majority of the threads I see deal with getting cash IN to get btc vs. getting massive amounts of btc out to be turned into cash.
Seasoned vendors and buyers familiar with btc to cash withdrawals, please advise, and thank you in advance. ???
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Get authorized for the vendor roundtable & laundering services are available by different entities
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could always spread your eggs to other baskets and pick back up some of the commissions SR cost by selling the BTC on localbitcoin - again, it's anonymous except buyer will be depositing to your bank account
fwiw
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or is our best bet to trust a btc exchanger to cut us money orders?
Only if you enjoy being in prison. You could contact the user StExo for a cashing out and/or money laundering consultation but it will cost you.
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lol lets see your 6 digit account when it gets set up. what you gonna sell ?
you need to find your own way to cash out. are you a buyer/reseller off the site. cause then you wont need to cash out all the time since you will need btc to re up.
if your actually going to withdraw 000,000 every month, i doubt it, then id talk to stexo or pureobrad. they both offer money laundering service but for a price. there is ATM cards you can purchase on silk road, and use an exchange like vircux or whatever. put btc onto the exchange, sell btc for usd, then put usd onto the atm card through exchange. all with a hefty hefty % fee.
you could get a partner, and ALL they do is sell your btc on local bitcoins. that would be there job, all they know is that you get btc all the time that needs to be sold, nothing more. dont tell em shit, just you mine btc and have for a long time or something.
they would need to be paid also, so its up to you. the USD government really funked shit up the past few months hopefully its just a lil slow right now but will pick up by christmas and be more mainstream.
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Well it can't be done cheaply that's for sure. You're either going to be eaten alive by the exchange fees, or eaten alive by the fees a launderer charge like myself, although that's a one time expense. If you're really looking to exchange this amount, have a look on my listing, send me a PM on the marketplace answering those questions and we can proceed. Generally withdrawing this quantity of bitcoin is not something just anyone can do I'm afraid, or at least not safely.
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stexo honestly though how many vendors are cashing out 6 digits a month. not very many. im thinkin hes full of it until he shows us different.
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stexo honestly though how many vendors are cashing out 6 digits a month. not very many. im thinkin hes full of it until he shows us different.
You'd be surprised ;)
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Get authorized for the vendor roundtable & laundering services are available by different entities
So far EVERYTHING I have tried on and off SR for sale has been shit or a straight up rip off.
You need to invent your methods yourself and tell no one.
Modzi
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WOW, ok, I am totally lost. :o
I am not lost by what I am being told as advice, that part is solid.
I'm lost that vendors are moving this amount of pill, powder, and liquid, and no one is making 10,000+ a month where they would need to cash out on a re-up into a physical currency with their local supplier?
I can't wrap my head around that.
Let's just put it this way, in real life, pushed a very popular stimulant and at the height, was making about $8500 a month with a roster of about 150 customers, but honestly, less than 50 were active EVERY week.
Now, that was just through who could actually be touched hand to hand in the city.
So, forgive me if thinking that one can do that locally, and then take their warez to a platform like SR, and not consistently make $10,000+ a month once established as not a great, but just a solid vendor, with good customer service, good shipping times, and just decent product, due to the convenience of coming straight to your house.
The-Truth, this sounds like solid advice. When the time comes, I will definitely sign up for it.
tbart, sounds like quite a bit of work, but at this stage in my development, I have to be open to new ways of remaining liquid if I really want to become a vendor.
Jack N Hoff, so let's say I have 3 figures, then 4 figures worth of bitcoin. I transfer it to a btc platfrom, cash the btc out into dollars, then choose the option to have it delivered as a USPS money order. Are you saying that would raise suspicion, building up to possible 5 figure cash out? I am asking because I truly don't know. For example, I know of a platform that, without me verifying my identity, I can withdraw $1000 a day. By my calculations that is $365,000 a year. Then let's say, I have a handful of accounts. I can transfer quite a bit, or am I looking at it all wrong?
bbbacc, I understand skepticism. Simply taking real world numbers that have been done per week, per month in real life and in effect extrapolating what selling to a multiplicity of that amount of customers on a platform such as this would look like. Trust me, I want my numbers to be as conservative as possible, because if I see too much velocity, I will have to either re-evaluate or tread with caution. So, what I'm getting from you is that each vendor is on his/her own when it comes to turning btc back into their native currency? WOW, I find that mind boggling for vendors on here, or maybe I just don't understand fully.
StExo, we will have to talk. Am a buyer here for quite some time and resell in real life. However, I have watched for about a year and a half now and just wondered if my wares could compete here, after spending time in the forums and researching reviews. Judging from the product that one could offer, it would not be unrealistic to expect a six figure revenue stream within half a year "easy". That is the only reason I felt the question was valid.
Gosh, I have to thank those who responded. I really appreciate you taking this question, especially with me being a buyer, and merely researching this piece of the business for a move to the vendor side. It is greatly appreciated.
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yeah obviously its on you. this isnt a game you arent a baby, you need to look after it on your own and dont expect people to help you because some people wouldnt give out the info even if you paid them. if your honestly looking to be selling that much, id make an account before you start talking about it. its not easy.
if your cashing out that much id have mulitple ways to do it, with you knowing all information about mining because your gonna have to start telling people you mine btc if your cashing out that much. have the knowledge so your not stuck in a corner with how you got all this btc
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if your cashing out that much id have mulitple ways to do it, with you knowing all information about mining because your gonna have to start telling people you mine btc if your cashing out that much. have the knowledge so your not stuck in a corner with how you got all this btc
While this may cater to some basic questioning, to get 6 digit amounts of bitcoins would take a HUGE amount of mining hardware. At this level you'd be racking up abnormally large electricity bills, and would have an impressive spread of hardware and cooling equipment. Just saying it might pay to think this through. Perhaps if you forge an electricity bill and have some photos of some rigs that aren't available online you could cover your ass a bit.
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To elaborate on OP's thread, when you are calculating your Gross Margins, What % of Gross Revenue would you allocate to the combined effort of CashingOut+LaunderingMoney
How do you think this changes for A) 4-Digit Vendors and B)5 Digit to 6 Digit Vendors.
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If you don't have a way to withdraw that kind of money then consider de-scaling the size of your operation, at least to test the waters.
Welcome to SR.
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again, it's anonymous except buyer will be depositing to your bank account
I do not mean to be rude, but, excuse my non-visible reaction to this post.
As to the OP, stexo has already spoken. So let us leave it at that.
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Well one advise :
Try to sell your product first and then talk later about 6 digits.
i think a lot of people think its easy to deal on or offline. but what about risks you make, inventory , refunds , reshipping . if you make your first 1k then you need to supply first before spending all.
6 digits is a good thing in mind to earn but start small . i see myself if i sell small listings i only make small figures . if i sell bulk i make more profit BUT i take more risks
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I am willing to share how this can be done, but I am not going to make it publicly known here on the forums.
If anybody wants to know how to convert your bitcoin to cash without losing any money on the exchange whatsoever and you live in the USA just send me a PM.
I will only divulge this to vendors, so I need to see that you are a SR vendor before I share this (gotta keep this info in the right hands only).
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hit me up with that info.
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What ever you do don't use those very bad shit polish anonymous visa debit cards. They are being watched so hard it's not funny.
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Again, I CANNOT express enough how thankful I am for people contributing to my thread while I am only "contemplating" vending here.
I understand information is just about as important as btc here, and I have gotten responses from people I am under the impression have thought about what I am thinking at some point in their vending development and were nice enough to share.
This community has helped my business, irl, in ways you cannot imagine.
yeah obviously its on you. this isnt a game you arent a baby, you need to look after it on your own and dont expect people to help you because some people wouldnt give out the info even if you paid them. if your honestly looking to be selling that much, id make an account before you start talking about it. its not easy.
if your cashing out that much id have mulitple ways to do it, with you knowing all information about mining because your gonna have to start telling people you mine btc if your cashing out that much. have the knowledge so your not stuck in a corner with how you got all this btc
Appreciate the advice, but never asked to be babysat. I have been here long enough to have an idea, but I believe it is prudent to garner the advice of people who are doing it or who have done it.
Been in this business, irl, a long time. Starting an account and then talking about it, well, that's just putting the cart before the horse. To me, that would be like having money for product, with no way to weigh or package it, and then wonder how to get a customer base. I need to know those things FIRST! Didn't start irl business like that and certainly don't plan to do that on the web. Due diligence is no different on SR than irl.
I am not new to the business of large sums of money from moving a clandestine product, however, I am new to the business of large sums of money being traded with a crypto currency as the underlier that can't be spent where I live, nor with my connect. Was touching $40 grand a month with MUCH less exposure than I would get on ACTUAL MARKETPLACE THAT ALLOWS YOU SELL PRODUCT! Maybe I am making the gross assumption, that I would do less business here, amongst more potential customers.
Now, in your opinion, is selling on here or in real life, harder or easier? See, I have sold large amounts of product in the streets, so I am having a hard time following the "easy" part.
If you don't have a way to withdraw that kind of money then consider de-scaling the size of your operation, at least to test the waters.
Welcome to SR.
Thank you, sharonneedles, this was my FIRST mind as this thread began to build. I may have looked at how large it "could" grow here, basing it off of actual numbers in real life. I may be comparing apples to oranges. That is why I started to this thread to get insight, not to boast, but to really understand if I want the hassle of having access to more customers and at the same time have the hassle of how to convert, BUT the "safety" of the community. My partner won't like it, but I believe this probably what I want to do. Make a set amount per month that looks "normal" and then learn the vending side of the game from there on.
What ever you do don't use those very bad shit polish anonymous visa debit cards. They are being watched so hard it's not funny.
You get a +1. I was thinking of these as a secondary, maybe tertiary method, but now thanks to your insight, they appear to be a "no go"!
I have been up on living invisibly, expatriating, and sovereignty for some time now and these were ALL the rave in the mid 2000's, at least in my circle.