Silk Road forums
Discussion => Security => Topic started by: BdaY41943 on December 02, 2011, 05:18 am
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Well I'm new here seeing as how this is my first post, I've been doing some research for the past few days and lurking on the forums to see if making a purchase on this site is worth my time. The thing that I'm most worried about is how to get safely get Bitcoins, from what I've read getting them through a vendor that trades for moneypaks is the most anonymous way to get them. I do have some confusion however as to how that works, once I were to send whatever vendor my moneypak, do the bitcoins go directly to my SR wallet or do I have to put them in another wallet or some other kind of depository first and transfer at a later date? I have also read that it is fairly easy to get scammed when trading moneypaks for bitcoins and I was there was any validity to that statement, if someone could point me in the direction of a reputable vendor who does this sort of transaction it would be greatly appreciated. Thank you advance for any advice on this subject!
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To answer your first question once you send them the moneypak number the vendor will send the coins directly to your silk road account. For the second question just look through the forums for reviews of moneypak vendors and that should help you make your decision. Just make sure to click the profile of whoever you decide to go through to make sure they have the coins to cover your moneypak.
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It is certainly one of the most risky methods for buying bitcoins... even reputable vendors may turn scammer. There is no escrow or protection once you give away your moneypak number. Feedback on SR can be faked, so DO NOT trust a new exchanger without reviews from established members on the forums.
That being said it is one of the fastest ways, and fairly anonymous just make sure to buy the moneypak with cash obviously. If you are willing to wait less than 24 hours for your coins, and have a bank of america or chase in your area, I would recommend looking into the cash deposit at get-bitcoin.com
You would send your moneypak # number to the vendor (encrypted would be safest but I have had success unencrypted...) who then takes their fee out and sends you coins at their exchange rate. Generally this is just to your SR account using your username, but could be to an outside address. I only had experience with sumyungai, who is setting up some kinda new market for moneypak->bitcoin exchanges but just stopped on SR. BTC buddy has lots of feedback on SR but you need to do searches on the vendors name in the money section on SR offering the deal on the forum and read the most current reviews to ensure they are legitimately exchanging coins.
SR can definitely be worth your time and effort if you are careful.
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microRNA- Great post all around. Oh so true, paragraph 1. Paragraph 2 is good if you wanna go that way. I have only heard good things that site. Although I have never used it. SIGH... EXCHB what happened? I miss you. And paragraph 3 not all SR exchangers use PGP. AND not all exchangers use the forums. BUT plenty of their buyers do. So research is definitely in order.
REMEMBER milk at the convenient store is always more expensive than going to a grocery store. And on a dairy farm milk is free. I am not sure that has anything to do with what I am saying but remember it anyway. When buying BTC, SAFETY, SPEED, ANONYMITY and TRUST come with that. It's more than buying btc. You are buying a package. Placing an order. Hoping on a delivery. It's NOT ALWAYS about the lowest price "DEAL". It may not really be such a deal. THE DEAL is getting bitcoins and not left w/an empty MP and no recourse.
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I used Get-bitcoin with no problems but it took a week turnaround. They have faster services but I haven't tried them.
I ordered today from BTC Buddy using MoneyPak. Paid cash at a drugstore. Placed an order with Buddy and had the coins deposited into my account within 5 minutes. Very impressive.
Both seem safe and reputable. All depends on how fast you want to order or are willing to wait.
Hope this helps and good luck,
Crisis
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Please read updates on SumYunGai on the scammer thread. This is an old review on the BTC vendor.
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Watch out all, MoneyPak is now cancelling and commandeering funds on selected cards due to suspicion of conducting/ purchasing illegal activities/products. They are making reference to the warning on the back of the card and giving the suspected one a 30 day dispute period to prove otherwise to get the decision overturned for the card holder to get the money back. People are saying that many are getting the money back after 30 days has elapsed and that MoneyPak is doing this in an attempt to bring attention to their preferred public reputation that they will not tolerate any illegal activity. So be extra careful, you may get your money back but you have to wait for it and go through a lot of BS. I am now buying Bitcoin with nothing but Bank Deposit with Cash. a done deal transaction.