Silk Road forums
Discussion => Security => Topic started by: stephen1 on May 31, 2012, 04:01 pm
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To deposit cash into an Intersango account you have to use a bank transfer, therefore you're giving them your bank account details which can be traced back to you. Does this add more potential risk or not?
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To deposit cash into an Intersango account you have to use a bank transfer, therefore you're giving them your bank account details which can be traced back to you. Does this add more potential risk or not?
Hi Stephen1,
A brief disclaimer : I sell Bitcoins for cash so feel free to check what I say with others - it doesn't make it any less true though! :)
Anyway the short answer is yes, there is a risk involved. Anyone with access to Intersango's records would be able to associate your identity with the Bitcoin address from which you send your coins and subsequent transactions can be traced throughout the block chain. You can mitigate this risk by running your coins through a mixing service for a small commission. (Bitcoinfog is my favourite).
The only way to be sure of obtaining Bitcoins safely is either to sell goods or services for them or buy them using cash. You don't have to use my service for this of course (although I hope you do!) but if you do decide to go ahead, I would recommend that instead of using Intersango that you use MtGox's Barclays account and pay using cash. It would still be possible to see who made the payment by analysing security camera footage but this would require extra time and effort, so it's safer.
All the best,
V.
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I've used intersango ever since i started my trip down the road for me it is worth the risk. It is very convenient.
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I've used intersango ever since i started my trip down the road for me it is worth the risk. It is very convenient.
...So's running out in front of traffic rather than using the crossing if it helps you get across the road faster, do it enough times though... :-D
As I said I know I will be accused by people saying "Well he would say that wouldn't he?" but this is just as true in the US and Asia where I don't operate - cash and sales of products/services are the only two truly safe ways of obtaining Bitcoins.
V.