Silk Road forums
Discussion => Off topic => Topic started by: squig007 on May 07, 2012, 12:47 pm
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forgive me for being thick here , but is there a step by step guide anywhere as to where to buy bitcoins and how to pay for goods on SR using the coins as i cant get my head around it at all
squig007
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Hello mate, first of what country do you live in?
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sorry i live in northern ireland uk
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ok, i use mtgox they arent really the fastest but works good for me. Create a account on there website but please note you have todo this from a clearnet connection (not by tor) if you do access your mtgox account by tor they get all pissy and might get you to provide ID to get your account unblocked.
On mtgox under funding options you select the option for UK cash deposit. From this you will see the banking information needed. either copy and paste and print it off, save it on your phone or write it down.
Be aware the last line aka the message is VERY important it allows them to put the money into your account.
Next walk into a barclays branch hand the teller the banking details and say you would like to deposit XX amount into that account.
(Ensure they enter the message aka your account number as the reference and note that it is case sensitive)
From here it normally takes around 1-2 days for the money to show up in your account (mtgox is based in japan so the whole timezone thing is annoying)
When you have your GBP on your account you then buy your BTC. From the interface its pretty self explanatory but you can change the price you want to purchase at depending if you want to wait longer for a better deal.
Once you have your Coins on your account its time to mix them up so they cannot be traced back to your clearnet account.
go to instawallet.org and save the url that is generated. This url is your wallet information if you lose it you cannot get back into that specific wallet and any coins in them are lost. copy the bitcoin address and head back onto mtgox and withdraw your coins to this address.
Now open up your tor browser and head to (http://fogcore5n3ov3tui.onion) this is a service called bitcoin fog it bascily mixes up your coins so they cannot be traced back to one specific person. The amount of time this takes varies on your settings. transfer the coins from the instawallet to the wallet in bitcoin fog and enter the exit address as your SR coin address found under the account settings section.
When the mixing process is done the coins transfer the coins to Silkroad and you should be set.
Be advised transferring coins from one place to another will have a slight cost depending on the service so always deposit a bit more then you want to spend and that transfer times can take anywhere from a hour to 5-6.
I suggest you get to grips with how the whole system works with a small amount say 5-10 pounds just to get some first hand experience before using larger amounts
I was pretty stoned while righting this so apology's if there are any mistakes or if parts make little sense :)
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If someone sober could read though and check there arent any gaping holes here please :)
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If someone sober could read though and check there arent any gaping holes here please :)
Welcome to SR Squig007,
+1 Karma to your Prawl for your excellent post on behalf of a fellow Brit.
I also live in the UK and am offering a service to allow people to buy BTC via cash in the mail (see link below for more info) but enough of my plugging, Prawl has it exactly right - I should just re-emphasise it's extremely important you have the teller at the bank use the reference number MtGox supply you with - I have had problems in the past with Barclays not adding this when depositing cash.
Just another word about Bitcoinfog - they will charge a small commission for "mixing" your coins (a random amount between 1 and 3%.) but it's well worth the money as it massively increases your anonymity - bear in mind that this method of buying coins isn't 100% anonymous but is suitable for buying small amounts of BTC on an occasional basis.
There is another provider named Intersango who allow you to buy BTC in much the same way but you can only fund your account via wire transfer, not cash deposit.
Any other questions please feel free to ask.
V.
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+1 Karma to your Prawl for your excellent post on behalf of a fellow Brit.
Cheers pal :)
I should just re-emphasise it's extremely important you have the teller at the bank use the reference number MtGox supply you with - I have had problems in the past with Barclays not adding this when depositing cash.
Yes this is very important also keep stressing that its case sensitive, its better to annoy the teller and make sure it gets though ok then for you to dump money into a account that you have no access too :)
Just another word about Bitcoinfog - they will charge a small commission for "mixing" your coins (a random amount between 1 and 3%.) but it's well worth the money as it massively increases your anonymity - bear in mind that this method of buying coins isn't 100% anonymous but is suitable for buying small amounts of BTC on an occasional basis.
Yeah im not sure if its possible to make BTC 100% anonymous its just about piling layers on layers so its dam near impossible (could be wrong here)
There is another provider named Intersango who allow you to buy BTC in much the same way but you can only fund your account via wire transfer, not cash deposit.
Back when intersango did cash deposits i used them once and only once, pain in the ass, support wasnt good so they lost my vote, and a wire transfer is just not worth the risk in my opinion, Cold hard cash baby!
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If someone sober could read though and check there arent any gaping holes here please :)
I also live in the UK and am offering a service to allow people to buy BTC via cash in the mail (see link below for more info)
Has anyone got any expierience with you, i would be extremely interested in this but it seems a little shaky to me. Ill message you on sr to get some details from you. (lockerp - sr)
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hi guys there are no barclays branches here in belfast , is there not a way to do it all online ?
squig007
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hi guys there are no barclays branches here in belfast , is there not a way to do it all online ?
squig007
Yes on mtgox under funding options you can find a option for wire transfer but of course a wire transfer is easier to track back to you.
I have little experience using wire transfers with mt gox
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If someone sober could read though and check there arent any gaping holes here please :)
I also live in the UK and am offering a service to allow people to buy BTC via cash in the mail (see link below for more info)
Has anyone got any expierience with you, i would be extremely interested in this but it seems a little shaky to me. Ill message you on sr to get some details from you. (lockerp - sr)
By all means send me a message - I am not sure what part of my profile/seller account seem "shaky" but if you have reservations I suggest you send small amounts of cash at first to build trust. You can wire money from your bank account to Barclays but this method is not as safe as Prawl says.
V.
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Well im ready to send in the next few days but it was just sending you money and trusting that you wouldnt just ignore me after that, but fuck it im not doing any big time deals here aha.
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Well im ready to send in the next few days but it was just sending you money and trusting that you wouldnt just ignore me after that, but fuck it im not doing any big time deals here aha.
The only currency on here worth a damn besides Bitcoins is respect, and I would lose that if I didn't deal fairly with people. As you will see from searching on the forums I am offering investment opportunities for people with BTC - the first link in that chain is to "cash out" my clients Bitcoins so they can be invested in more legitimate businesses. This is good news for people like you who need BTC as I'm only too happy to sell them to you for cash in the mail - the process is anonymous for both of us.
The whole house of cards comes tumbling down if I don't deal fairly and honestly with people - when you're ready to buy some BTC please by all means message me in advance and I'll give you a quotation.
V.
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hi guys after some serious thought. i finally took the plunge and put money into the mtgox, i then transfered the newly purchased bitcoins to my instawallet and then transferred it to bitfog - how long does it take to transfer to bitfog froom instawallet and once in bitfog how long to transfer to sr wallet -
squig007