Silk Road forums
Discussion => Off topic => Topic started by: happyredeyes on November 07, 2011, 12:41 am
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i cant figure out how to buy bitcoins, can anyone explain it please. It says use this address but i don't get it :o
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1. Get yourself a dwolla.com account and hook it up to your checking account. Transfer money from your checking account to dwolla.
2. Get yourself a mtgox.com account. When your money arrives at Dwolla.com, initiate a transfer to mtgox.com and buy bitcoins at whatever the going rate is.
3. Once you've purchased some bitcoins, withdraw the bitcoins from mtgox.com to your Silk Road account (you'll find your address in the account section of your SR account).
Some folks would add that you use a bitcoin wallet for max anonymity but I like having fewer places for someone to hack my bitcoins.
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Yep, after getting Tor setup, just so you can get here, this is probably the next 'tough' hurdle, where you have to do a little study. I can probably get you started. You have dollars, either in a bank account, or in hand, atm, whatever.
Start by looking here: https://get-bitcoin.com/
That's probably the easiest 'buy' place I know. They aren't hard to figure out. We've already got *many* discussions on how to purchase. Once you buy them, They will ask where to send the bitcoins. You can install a wallet on your Desktop. Most do that. Here's an easier way, however. Get one of these:
www.instawallet.org/
That's your own address, bookmark it. Then when you get btc(bitcoin), you can send them to that address...then you can send them to the Silk Road address in your account on the main site. Done deal.
More than that, you need to study up. Go to the Security forum on here, and just read up. There is a whole lot to learn. It would take too many pages to post it all. Good luck.
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I'd just like to mention CampBX as a source for bitcoin purchase. I recently threw in the towel with Mt Gox. I had nothing but problems with Mt Gox. When it did work (when the accounts weren't possibly compromised) my transfers would get lost or take weeks. I did some research and tried CampBX as a source for bitcoin. CampBX has a great and fast transfer method arrangement with Dwolla. It worked a treat. I am very pleased with CampBX so far. Anyone else use CampBX?
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Get a MoneyPak code and go see BTC Buddy. He has btc and will not steal from you.
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Milkman, I've been using Campbx from the get go. Didnt get asked for ID's, I can mail in Money Orders and they have a great Trade Platform. I highly recommend campbx. You can Short BC's, you can use Margin and you can go Long on Margin. Once you make yourself the free profit equivalent of a fat 1 oz bag of Kush, you Tumble your BC's through a few holding tanks until it gets to your SR Account. Know I made it simplified, but if you do your homework you can use this Volitillity to cash in instead of hiding in a closet overdoing it on your SR drugs waiting for the BC to go all over map and back.
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Hey oppy, can you give me a rundown on margin and how to use it? Or a link to some good info? I don't know shit about trading or investment, but I'm in the process of setting up a campbx account, and would like to mess around a little with trading and such. You can pm me if you don't want to clutter up the thread with trade chat.
Also, second what MrDdroMcGillacutty said, but I used SumYunGai. Fastest way to get coins on the Road, but you'll pay more for the convenience.
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Ok subtley. You're sitting at the blackjack table and the dealer throws you an ace. If dealer gives you a face card or a 10 it’s BlackJack! You get paid the $50 bet you put down plus another $25. You'd love to increase your bet, but it’s your las5 50. Luckily, your friend offers to spot you $50 and says you can pay him back later. If the cards are dealt right, you can win big and pay your buddy back his $50 plus profit made from BlackJack payout.
Margin magnifies the gain when the BitCoin goes up. Let’s say your nuts are tingling and your pretty damn sure BC’s are going up in next 30 days. Margin is only good for 30 days. Bitcoin is now at 2.22. You have 100 BC’s in your account. You put up 50% of your BC’s to Buy additional BC’s while BC’s are at 2.22. Your 50 BC deposit allows you to here forward buy all the BC’s you want in next 30 days. A week later, Bitcoins go to 5.55. You cash out. Regardless of how high BC’s go, you put 50 BC’s, you walk away with 100 BC’s at 5.55 a piece even though the 50 you put up were only 2.22. Here’s the bad news. Same scenario, you put up 50 BC’s at 2.22. BC’s drop to 1.25. Unless you used the Margin to “Short Sell” (meaning you purchased an Option believing BC’s were going to drop) you will get a Margin Call. You will lose the 50 BC’s you placed on deposit, plus your now obligated to pay any addition fees.
CampBX will also let you Short BC’s. Meaning, your nuts are tingling again and your convinced BC’s will drop in next 30 days. You Buy an “Option” from CampBx for 100 BC’s at 1.00 value. You pay say 25 BC’s at current value, but if price drops to 1.0 your allowed to Buy all 100 BC’s for only the 25 you put up..make sense?