Silk Road forums
Discussion => Security => Topic started by: usernamealreadyinuse on April 22, 2012, 06:33 pm
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If I transfer bitcoins straight from Mt. Gox to SR would that make it easy for authorities to join the dots and be able to make a trail?
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MT gox to SR is most likely going to be safe for relatively small time and infrequent buys, if you plan on doing any long term or large scale buys then invest in taking some time in mixing and hiding your coins.
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If I transfer bitcoins straight from Mt. Gox to SR would that make it easy for authorities to join the dots and be able to make a trail?
Hi buddy,
This has been picked up on in a thread before now. The transfer of Bitcoins from person to person through the BTC can easily be tracked - indeed each Bitcoin client downloads a constantly updated block of data which includes all transactions. That in itself isn't a problem unless a particular address can be shown to be yours.
If you use a verifiable method to buy Bitcoins e.g via transfer from your bank account to buy Bitcoins and then transfer those to SR and someone had access to MtGox's records it would be possible to trace the flow of BTC from your wallet with MtGox to SR AND link it to your name. The same holds true for sellers withdrawing funds from an exchange using a traceable method e.g paypal, bank transfer. In practice it would be rather involved to prove you had bought a specific item via SR even if the Police did have access to this information and they probably wouldn't go to this trouble for people buying small amounts of narcotics but you've asked a good question and I want to answer it.
In essence if you can link a person's identity to a particular Bitcoin address then you can trace all subsequent transactions they make. This is only an issue when it comes to obtaining Bitcoins or trying to cash them in i.e at the point of entry/exit
Solutions to this include sellers (like me!) who offer a service buying and selling Bitcoins for cash in the mail. Another solution would be to look on eBay or Craigslist for people near you who will sell physical Bitcoins for cash. Finally you can make use of a "mixing" service like BitcoinFog to exchange your own coins for those of others and then send this on to SR in exchange for a commission of 1-3%.
Please feel free to ask if you have further questions.
Thanks,
V.
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MT gox to SR is most likely going to be safe for relatively small time and infrequent buys, if you plan on doing any long term or large scale buys then invest in taking some time in mixing and hiding your coins.
Thanks for the reply, appreciate it.
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If I transfer bitcoins straight from Mt. Gox to SR would that make it easy for authorities to join the dots and be able to make a trail?
Hi buddy,
This has been picked up on in a thread before now. The transfer of Bitcoins from person to person through the BTC can easily be tracked - indeed each Bitcoin client downloads a constantly updated block of data which includes all transactions. That in itself isn't a problem unless a particular address can be shown to be yours.
If you use a verifiable method to buy Bitcoins e.g via transfer from your bank account to buy Bitcoins and then transfer those to SR and someone had access to MtGox's records it would be possible to trace the flow of BTC from your wallet with MtGox to SR AND link it to your name. The same holds true for sellers withdrawing funds from an exchange using a traceable method e.g paypal, bank transfer. In practice it would be rather involved to prove you had bought a specific item via SR even if the Police did have access to this information and they probably wouldn't go to this trouble for people buying small amounts of narcotics but you've asked a good question and I want to answer it.
In essence if you can link a person's identity to a particular Bitcoin address then you can trace all subsequent transactions they make. This is only an issue when it comes to obtaining Bitcoins or trying to cash them in i.e at the point of entry/exit
Solutions to this include sellers (like me!) who offer a service buying and selling Bitcoins for cash in the mail. Another solution would be to look on eBay or Craigslist for people near you who will sell physical Bitcoins for cash. Finally you can make use of a "mixing" service like BitcoinFog to exchange your own coins for those of others and then send this on to SR in exchange for a commission of 1-3%.
Please feel free to ask if you have further questions.
Thanks,
V.
Thanks for the reply, appreciate it. Going to look into BitcoinFog. Only question is this and not related to topic - how do I give out karma? Would like to give you and other poster some.
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Solutions to this include sellers (like me!) who offer a service buying and selling Bitcoins for cash in the mail. Another solution would be to look on eBay or Craigslist for people near you who will sell physical Bitcoins for cash.
Would love to find someone to do this with USD. Have been looking and haven't found anyone yet.
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karma is available to be used after you have 100 posts :)
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Yes indeed I have been eager to look out for someone who offers this service in the hope we could provide each other with some mutual advertising. In principle I am happy to accept/send USD in the mail but obviously shipping would be to/from Europe so it could take 1-2 weeks to process the transaction. If you're unable to find someone to do this for you in the US, I'd be happy to give you a quotation. Obviously if I come across anyone trustworthy I'll be sure to let you know.
Thanks, if I come across someone I'll shoot you a pm