Silk Road forums

Discussion => Security => Topic started by: BossNab on June 12, 2012, 10:54 pm

Title: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: BossNab on June 12, 2012, 10:54 pm
I plan to make a large deposit soon...however I feel as though going through bitinstant (which has a limit of $1000/deposit - 4000/day) and laundering that large amount of coins is just going to be a headache.
The only upside I feel from going through bitinstant might be a smaller fee? But if I had the chance to pay 1-4% more for coins in exchange for anonymity and speed I would def take it.

Does anyone have experience from large purchases of coins with a SR vendor?
If I buy BTC from a vendor does I go straight to my SR acc?
Is it more anonymous than bitinstant -> mtgox/etc. -> instawallet/etc. -> SR?
Are there any advantages from buying BTC from a vendor on the SR?
Are there any disadvantage?

Any kind of input or answers will help.

Thanks for your time!!

:)

Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: Crooked on June 13, 2012, 02:58 am
Use a multitude of techniques to get your coin in.

I.E.

Hit 3 banks using bitinstant for different amounts, with different tormails. Clean them if you're a particularly careful fellow. I think you should do so with bitinstant atm honestly since their service is getting big and I bet they're a little heated with LE right now. I'm just going with my gut on this one ofc.

Then hit a bunch of different walmarts for MPs. Use trusted exchangers for this. I recommend Sugar Mama.

Then, you can also use Western Union for amounts less than 1000 again.

Another exchanger to look at right now is BlueSkyTraders. He did 1300 in one deposit for me yesterday.

That's the most I've ever done via a bank deposit. BST hasn't been around too long though so it's up to you if you really wanna risk all that dough in one transaction.

Something I've learned here, is that when dealing with the Road, you're better off spreading all your shit out. Whether it's using 10 different exchanges to get 10,000 on here or sending a kilo to 20 different spots.... Yea it's more work, and yea it's more hassle... But it's the safer way to get shit done.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: Getz on June 13, 2012, 05:55 am
Crooked hit the nail on the head.

I have one thing to add: If you do use bitinstant, make sure you use the cash bank deposit > coinapult method. Everything can be done on TOR by using a tormail(s), and you don't have to mess with mtgox. Coinapult buys your coins at the current market rate and charges a 1% fee. Bitinstant 4.5% fee + 1% coinapult fee = only 5.5% in fees.

I like this method because its almost twice as cheap as using SR BTC vendors.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: Crooked on June 13, 2012, 04:35 pm
Crooked hit the nail on the head.

I have one thing to add: If you do use bitinstant, make sure you use the cash bank deposit > coinapult method. Everything can be done on TOR by using a tormail(s), and you don't have to mess with mtgox. Coinapult buys your coins at the current market rate and charges a 1% fee. Bitinstant 4.5% fee + 1% coinapult fee = only 5.5% in fees.

I like this method because its almost twice as cheap as using SR BTC vendors.

4.5% fee is only on less than 500$ transactions last time I checked. It's more like ~7% total fees I THINK.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: vlad1m1r on June 13, 2012, 07:00 pm
As a Bitcoin trader I can tell you for nothing that using cash and going to a trader is the safest option!

However if you'd rather use Bitinstant I would do as Crooked's suggested and make multiple smaller deposits via different banks - if the commission is 5% for two lots of USD 500 then it will be less than the 7% required for USD 1,000 after all!

I would recommend sending your BTC to Bitcoinfog - if you're feeling ultra paranoid create a new SR account and withdraw your funds from there to your real account too so they're run through SR's mixer as well.

All the best,

V.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: Crooked on June 24, 2012, 08:28 am
As a Bitcoin trader I can tell you for nothing that using cash and going to a trader is the safest option!

However if you'd rather use Bitinstant I would do as Crooked's suggested and make multiple smaller deposits via different banks - if the commission is 5% for two lots of USD 500 then it will be less than the 7% required for USD 1,000 after all!

I would recommend sending your BTC to Bitcoinfog - if you're feeling ultra paranoid create a new SR account and withdraw your funds from there to your real account too so they're run through SR's mixer as well.

All the best,

V.

So send coins from coinapult to a newb sr account, then send coins from that account to real buyer account from the newb acc?
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: vlad1m1r on June 24, 2012, 02:45 pm
As a Bitcoin trader I can tell you for nothing that using cash and going to a trader is the safest option!

However if you'd rather use Bitinstant I would do as Crooked's suggested and make multiple smaller deposits via different banks - if the commission is 5% for two lots of USD 500 then it will be less than the 7% required for USD 1,000 after all!

I would recommend sending your BTC to Bitcoinfog - if you're feeling ultra paranoid create a new SR account and withdraw your funds from there to your real account too so they're run through SR's mixer as well.

All the best,

V.

So send coins from coinapult to a newb sr account, then send coins from that account to real buyer account from the newb acc?

Correct! The SR coin mixer isn't as effective as Bitcoinfog's but will still hugely increase your safety. As I said though, by far the safest method to obtain Bitcoins is to buy them with cash.

V.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: sabteria14 on June 24, 2012, 05:50 pm
ive heard that sourdiesielman and rxking are reliable traders that charge no fees but its risky to fo thru them.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: BlueSkyTraders on June 24, 2012, 06:43 pm
I plan to make a large deposit soon...however I feel as though going through bitinstant (which has a limit of $1000/deposit - 4000/day) and laundering that large amount of coins is just going to be a headache.
The only upside I feel from going through bitinstant might be a smaller fee? But if I had the chance to pay 1-4% more for coins in exchange for anonymity and speed I would def take it.
Does anyone have experience from large purchases of coins with a SR vendor?
If I buy BTC from a vendor does I go straight to my SR acc?
Is it more anonymous than bitinstant -> mtgox/etc. -> instawallet/etc. -> SR?
Are there any advantages from buying BTC from a vendor on the SR?

How much is a large deposit? We've done many four-figure transactions here, and we suspect there are others that haven't spoken up about it. One of them is on this thread. If you do a transaction with us, your bitcoins are direct deposited into your SR account. Best to ask, of course, but logical to figure that the other vendors do the same. Some of the vendors here, BTS included, use the same model as BitInstant. We think we’re faster and offer a better return. We also make large coin acquisitions here on the Road, so we can speak on both routes. It really boils down to an element of faith, another word for trust. We have a working relationship with our suppliers that we carefully manage to ensure the relationship is more valuable than a single large cash grab. In the case of SR vendors, obviously the feedback and forum systems are reputation stores enabling the same notion there. Good luck!
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: vlad1m1r on June 24, 2012, 07:29 pm
I plan to make a large deposit soon...however I feel as though going through bitinstant (which has a limit of $1000/deposit - 4000/day) and laundering that large amount of coins is just going to be a headache.
The only upside I feel from going through bitinstant might be a smaller fee? But if I had the chance to pay 1-4% more for coins in exchange for anonymity and speed I would def take it.
Does anyone have experience from large purchases of coins with a SR vendor?
If I buy BTC from a vendor does I go straight to my SR acc?
Is it more anonymous than bitinstant -> mtgox/etc. -> instawallet/etc. -> SR?
Are there any advantages from buying BTC from a vendor on the SR?

How much is a large deposit? We've done many four-figure transactions here, and we suspect there are others that haven't spoken up about it. One of them is on this thread. If you do a transaction with us, your bitcoins are direct deposited into your SR account. Best to ask, of course, but logical to figure that the other vendors do the same. Some of the vendors here, BTS included, use the same model as BitInstant. We think we’re faster and offer a better return. We also make large coin acquisitions here on the Road, so we can speak on both routes. It really boils down to an element of faith, another word for trust. We have a working relationship with our suppliers that we carefully manage to ensure the relationship is more valuable than a single large cash grab. In the case of SR vendors, obviously the feedback and forum systems are reputation stores enabling the same notion there. Good luck!

I can vouch for BlueSkyTraders - they run a very impressive operation.

V.
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: RxKing on June 24, 2012, 07:55 pm
ive heard that sourdiesielman and rxking are reliable traders that charge no fees but its risky to fo thru them.


I am only speaking for myself  and I sell BTC. I charge $0 fees and I give you the 24hour SR average for BTC.

I cover all fees.

So if you buy BTC from me you get dollar for dollar in  BTC. You can read my listings to get all the info you need. My service takes no longer then 60 minutes for you to have  BTC in your account.

From what my customers tell me and what I have read on here... there are some vendors that take a whole day or longer for them to send you your coin. That is crazy and you should never have to wait that long.

My feedback speaks for it's self. I have read all kinds of threads and post about the nightmare's some people go through to get BTC. It seems couple day's there is a thread about how someone got scammed trying to buy BTC. And every time the person that got scammed makes the post to tell us about it...and they went with a vendor that had very little if any feedback or was a brand new vendor. I still can't believe people try and get BTC from a vendor with no feedback.

Just take your time and read the feedback's from the BTC vendor you choose. Send the vendor any concerns or questions you have before you make a purchase.Find out how long it will take for you to get your coin. If the vendor does not answer your questions in a timely manor or tells you it will take a day or two to get your coin....move on and find another vendor.

Buying BTC is very easy and fast....if you know where to go. There are plenty of good/great BTC vendors. Take a little time and do research.

Good luck~

RxKing

If you have any BTC questions, just send me a message on SR and I will try and answer them and help you. Even if you don't purchase from me:)
Title: Re: Buying BTC w/ cash deposit via SR vendor - Large deposit questions
Post by: Crooked on June 24, 2012, 08:35 pm
I plan to make a large deposit soon...however I feel as though going through bitinstant (which has a limit of $1000/deposit - 4000/day) and laundering that large amount of coins is just going to be a headache.
The only upside I feel from going through bitinstant might be a smaller fee? But if I had the chance to pay 1-4% more for coins in exchange for anonymity and speed I would def take it.
Does anyone have experience from large purchases of coins with a SR vendor?
If I buy BTC from a vendor does I go straight to my SR acc?
Is it more anonymous than bitinstant -> mtgox/etc. -> instawallet/etc. -> SR?
Are there any advantages from buying BTC from a vendor on the SR?

How much is a large deposit? We've done many four-figure transactions here, and we suspect there are others that haven't spoken up about it. One of them is on this thread. If you do a transaction with us, your bitcoins are direct deposited into your SR account. Best to ask, of course, but logical to figure that the other vendors do the same. Some of the vendors here, BTS included, use the same model as BitInstant. We think we’re faster and offer a better return. We also make large coin acquisitions here on the Road, so we can speak on both routes. It really boils down to an element of faith, another word for trust. We have a working relationship with our suppliers that we carefully manage to ensure the relationship is more valuable than a single large cash grab. In the case of SR vendors, obviously the feedback and forum systems are reputation stores enabling the same notion there. Good luck!

I did 600 through BlueSkyTraders, then 1300 through him as well. Definitely my best BTC transaction to date. LOW fees, SUPER fast, EXTREMELY professional. BST is phenomenal.