PSA: Stay safe with bitcoins, deal locally!!

Hi guys!

With the recent post about Coinbase shutting down accounts, please please use your heads guys!

localbitcoins is your friend. Deal in cash. Use tor based wallets. Keep your opsec straight!

There are so many ways to get fucked in this business, don't let the legal end of it get you. Btc is legal! Don't be sketch with it. Learn how to legally use it.

That is all. If you have anything to add, please do.


Comments


[11 Points] boutmymoney:

Deal in cash is best way to go. Localbitcoins sounds a little sketch but once you find someone locally you are set. Takes away a lot of paranoia and makes things much faster and easier.


[9 Points] cannabisity:

I've had no issues with Coinbase when buying BTC, transferring to MultiBit wallet, then to DNM. No tumbling and rather high dollar amount transactions too.

AFAIK Coinbase just recently started doing this so I might need to change my method but so far so good.


[9 Points] bitcoind3:

Tor based wallets do more harm than good for the average user. There are malicious exit nodes that perform SSL stripping attacks against bitcoin sites.

If you're paranoid use a local wallet / trezor. Otherwise stick to regular clear net wallets. Don't use tor to access your Bitcoins unless you are security expert.


[6 Points] interstringly:

I actually have pretty good arrangement personally. I came in to contact with a pretty trusted and well known bitcoin seller (cash deposit) on localbitcoins, and after making multiple significant transactions without hitch, he sent me his personal number. I keep in contact with him on a prepaid burner phone I have, and whenever I need coin I text him. He offered to give me a much better exchange rate if we were to trade directly, cutting out localbitcoins escrow fees. I started off trusting him with around $250 transactions, and gradually increased the amounts with each successful transaction. He's proved trustworthy thus far with amounts over 5 coins. I usually go first. There's really no trail that anyone can follow, especially since I swap the coins between local wallets I create in Armory. Prepaid burner phone/minutes bought with cash while wearing hooded clothing, registered online using tor and fake information. I would highly advise asking a trusted seller for their personal numbers and contact then anonymously. This guy has a pretty good idea of what I'm doing with the coins, but he has no clue who I am nor does he care what I do with them.


[3 Points] sobulbous:

If anyone can find a legit way of getting fiat onto BTC-e it would be a good alternative. Can always buy LTC on an exchange that has LTC/USD trading then send to BTC-e and swap LTC to BTC. LTC has enough liquidity that the fees involved wouldn't be crazy.


[2 Points] fuckbadpeople:

BTC atm for the win! well if you live near one,,


[2 Points] caakeface:

I have some issues with the concept of tainted bitcoins. Bitcoins are forever and are like cash. They may be involved in tainted transactions, a concept I do understand, but they can't be tainted themselves. Think about all of the bitcoin that was auctioned off by the US government after seizures. Is that now clean even though it has been used in countless illegal transactions?

If there are a chain of provably linked transactions that are related to illegal activity then I can see that being a tainted transaction. But if even one of the transactions can't be provably linked to illegal activity then I believe that clears the coins.

Think about cash again. If a drug dealer takes his $20 and goes to McDonalds to buy lunch, nobody is going to go after McDonalds for receiving that $20, right? I suppose that there are some cases where blocks of cash were stolen from banks and their serial numbers recorded or marked that would be the exception.

All that rant aside, if you make a transaction directly from Coinbase where they know your identity to a DNM that would be bad. Also if you transfer BTC 0.1579 to a single wallet and then BTC 0.1579 from that wallet to a DNM it's probably going to be pretty clear it was you, even if no one can link that intermediate wallet directly to you.


[1 Points] None:

[deleted]


[1 Points] ApricockApecot:

How 'bout just a bank deposit? Less people know you buying BTC the better that can link you to them


[1 Points] throwthrowaway09:

Can you send your BTC from coinbase to say Bitstamp? And then from Bitstamp to the markets? Or do they look at Bitstamp the same as LBC?


[1 Points] sapiophile:

What the everloving fuck is a "tor based wallet?" That doesn't make any sense at all.

Use a local wallet program, like Electrum. Stop using web wallets. I seriously can't believe this shit.


[1 Points] IDakhan25:

Set up LBC, get tails, put it all on your usb, wipe the entire computer. When LE comes breaking your house down have a magnet sitting very close to your usb stick.... Leave any form of dnm stuff away from your delivery home. DO NOT SHIT on the bed you sleep. come on we arent animals


[1 Points] ohiostate8:

I use trucoin finally one that takes credit cards and has low fees. Coinbase pissed me off cancelling orders, coin.mx only let me use a credit card for 250$ and one tine only plus huge fees, got ripped off on localbitcoins plys their fees are insane. Just my 2 cents.


[1 Points] oahdofasdjofiajds:

fuck u noob