Silk Road forums
Discussion => Security => Topic started by: rottentoe on April 19, 2012, 03:23 am
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I've pretty much figured out everything I need for the first transaction. These bit coins confuse the fuck out of me. What should I be using? I was thinking VirtEx but am not sure. Are they any that will be an instant deposit as I would like to hit the 420 sale but won't have money until friday morning. :( Any advice?
Also I read up on the offline wallet, yup can't wrap my head around it. Anyone who can explain in layman's terms?
And last but lot least. If what I want is 55cash (I have it set to show cash value) will I need extra? Like are there any extra charges at check out? How much more should I put in my bitcoin account here?
I have a million questions but can't think right now. I don't wanna fuck up somehow so I hope you agree that no question is to dumb because I don't wanna annoy the shit out of anyone.
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I haven't used any of the other BTC exchangers so I don't know if there are any that are instant, but you can get you BTC pretty quickly with VirtEx if you use the cash deposit method of funding your account. All but one of my deposits went though within an hour or so. From there you can buy your BTC and get them over to SR; Depending on how paranoid you are and method you use, this can take as little as ~1 hour (VirtEx=>SR) or longer if send the BTC to a bunch of other places before SR.
Not sure what you'd like to know about offline wallets, there isn't much to it... go to bitcoin website, download program and install it. The program itself isn't hard to figure out, it's pretty straight forward.
IMO it's better to deposit more than the price of the item you'd like to purchase. There is a fee when buying the BTC, there may also be a fee when transferring from BTC exchanger to SR if you use a tumbler service (I think that's what it's called). And someone correct me if I'm wrong, but I think the SR fees are part of the listed price, not entirely sure on this one. So I think it's better to have extra BTC left over instead of being short and having to go through the whole process for a couple dollars.
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I haven't used any of the other BTC exchangers so I don't know if there are any that are instant, but you can get you BTC pretty quickly with VirtEx if you use the cash deposit method of funding your account. All but one of my deposits went though within an hour or so. From there you can buy your BTC and get them over to SR; Depending on how paranoid you are and method you use, this can take as little as ~1 hour (VirtEx=>SR) or longer if send the BTC to a bunch of other places before SR.
Not sure what you'd like to know about offline wallets, there isn't much to it... go to bitcoin website, download program and install it. The program itself isn't hard to figure out, it's pretty straight forward.
IMO it's better to deposit more than the price of the item you'd like to purchase. There is a fee when buying the BTC, there may also be a fee when transferring from BTC exchanger to SR if you use a tumbler service (I think that's what it's called). And someone correct me if I'm wrong, but I think the SR fees are part of the listed price, not entirely sure on this one. So I think it's better to have extra BTC left over instead of being short and having to go through the whole process for a couple dollars.
Thank you so much for these answers. When I do the cash deposit should I do it in person at the bank? Do they ask questions and i.d and shit.... or should I just use the online banking?
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I find it easiest to just go to the bank and make the deposit in person, more anonymous and seems to be the quickest way to fund your account. Not the most convenient but I'd rather take the extra precaution.
Sometimes they ask for ID, you don't have to provide it unless your depositing >$10,000 (I think, overheard another teller informing my teller while making a deposit). Just bring the cash and leave your wallet at home or in the car. If they ask, offer to go out to your car and get it; if they take you up on the offer just leave and try another branch. They will usually ask for your name though. You can just give them a fake one, just be sure to have one ready so your don't hesitate to think of one on the spot.
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I use Canadian Bitcoins when I'm in a hurry.
https://www.canadianbitcoins.com/index.php
Buy a pre-paid visa with cash, and western union them the money. If you send it before 4pm MCT
you'll have the bitcoins the same day.
Virtex online bill pay works pretty good, but it'll take 2 days for your deposit to show up, your better off
doing a cash deposit if your in a hurry - but you'll have to find an RBC.
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There are cash ->> btc in person offers on bitcointalk.org for Toronto, Halifax, Calgary, Montreal and Vancouver. There are also countless EFT ->> btc threads now, and other methods like Canadianbitcoins or cavirtex.com
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Thank god for this thread and some fricken answers finally on how to cash out BTC as a Canadian.
I use virtex, and at the moment they work fine, but I want to cash out anonomously, whether that be EMT or whatever virtex only lets you do a direct bank deposit or a 'hyperwallet' deposit.
If you're Canadian i'm not sure how hard it would be to find an RBC bank. There are 20 within 5km of me apparently. That happens when there are only like 5 or 6 banks in a country, finding an RBC bank in Canada is simple, i've liked virtex for this cuz when i do a deposit they approve it within 2-3 hours.
For a Canadian vendor though i'm not sure what are good options on sustainable anonymous BTC sales? or are there any.
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Thank god for this thread and some fricken answers finally on how to cash out BTC as a Canadian.
I use virtex, and at the moment they work fine, but I want to cash out anonomously, whether that be EMT or whatever virtex only lets you do a direct bank deposit or a 'hyperwallet' deposit.
If you're Canadian i'm not sure how hard it would be to find an RBC bank. There are 20 within 5km of me apparently. That happens when there are only like 5 or 6 banks in a country, finding an RBC bank in Canada is simple, i've liked virtex for this cuz when i do a deposit they approve it within 2-3 hours.
For a Canadian vendor though i'm not sure what are good options on sustainable anonymous BTC sales? or are there any.
Hesitant to post in public what those would be, but the obvious choice is cash in mail and in person from trusted exchangers already with history on #bitcoin-cad and bitcointalk.org
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Thanks everyone. I'm pretty close to multiple rbc's so that's no problem. I do bank with them daily so I'm going to go to a different branch while I'm in another city in the morning. When using cavirtex.com it's in CAD funds... would that make a difference. Say I put in to buy 20 bitcoins.. pay in CAD are those Bitcoins usable just as is?
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Thanks everyone. I'm pretty close to multiple rbc's so that's no problem. I do bank with them daily so I'm going to go to a different branch while I'm in another city in the morning. When using cavirtex.com it's in CAD funds... would that make a difference. Say I put in to buy 20 bitcoins.. pay in CAD are those Bitcoins usable just as is?
They have limits for unverified users, think it's up to $1,000 deposit and only $300 withdraw. If you're just buying under $1,000 every 90 days then no problem. Yes, they are good 'as is' you can just withdraw straight to your SR account if you don't care, otherwise use instawallet or your own bitcoin client as a more anonymous middle man to send coins to first.
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You could just create another Virtex account if you want to go over the $1,000 per 90 day limit.
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You could just create another Virtex account if you want to go over the $1,000 per 90 day limit.
Yep. I did this on MtGox before virtex was around with dozens of different yahoo accounts and socks5 proxies. Generated MtGox USD and sold them offsite for cash.
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Hesitant to post in public what those would be, but the obvious choice is cash in mail and in person from trusted exchangers already with history on #bitcoin-cad and bitcointalk.org
Yeah i've been wanting the cash in mail option primarily, the only exchangers on here who sell bills sell like a $100 for $115, with the fees i'm already paying for this that the other, an added 15% is pretty hard to accept :/. Problem with #bitcoin-cad/etc. is the funds would still go into my bank account, I don't want a record of money going into my account heh (I have good reason :) ).
I'll probably end up using virtex for small deposits cuz i've been buying/selling/depositing with them long enough now i'm not too concerned, it's the sustainable cashing out from vending that i'm stuck.
That canadianbitcoins site looks interesting cuz they'll mail you cash, but they are currently offering $4.40/BTC which is .. far too under the market for me.
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Alright, heading out now for a couple hours... posted on Virtex to expect a cash deposit. Wish me luck with my first SR experience. So excited.
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Yea i use CaVirtex by doing cash deposits. They asked me for i.d once cuz im a "non-client" ( i dont have a bank with them ) but i asked for a few deposit slips for Virtex and now every other time i deposit ( this time with a deposit slip ) they dont ask for i.d, they just take the deposit slip, do wut they gota do, and its quick and easy and anonymous. I guess i should have said that i forgot my id when i went for the first time, but it slipped my mind, o well, Ha.
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Just wanted to chime in here as a new user of SR. I used Cavirtex using the bill pay option, got verified, and everything worked out well. Got my coins from them, transferred to a few wallets, then finally to SR and made a purchase today.
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Just wanted to chime in here as a new user of SR. I used Cavirtex using the bill pay option, got verified, and everything worked out well. Got my coins from them, transferred to a few wallets, then finally to SR and made a purchase today.
You can also use bitcoinfog ( http://fogcore5n3ov3tui.onion/ ) if your feeling extra paranoid when moving your coins around. Sadly just like everyone they take their share of fees (I think its 1-3%), but a great way of getting your BTC spread in the network over time and then many small random deposits over a set amount of time into your wallet or wherever.
I use cavirtex though too with confidence, their quick and their BTC are always cheaper for some reason (eg. now they are selling @ $4.75 on cavirtext and just over $5.00 on mtgox). Anonymous RBC deposits FTW
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dumb question here: if as a canadian i use cavirtex or canadianbitcoin.com, does this mean i don't use mt.gox? i'm going from "The Complete All-in-One Guide on How to Anonymously Use Silk Road". the steps there are 1) mt gox account, 2) bitinstant.com to get $ to mt. gox, 3) ewallets here and there, and then 4) silk road. from what i'm getting here, as a canadian should the steps instead be 1) cavirtex or whatever, 2) ewallets if you feel like it, then 3) silk road?
gah! my brain hurts
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I've pretty much figured out everything I need for the first transaction. These bit coins confuse the fuck out of me. What should I be using? I was thinking VirtEx but am not sure. Are they any that will be an instant deposit as I would like to hit the 420 sale but won't have money until friday morning. :( Any advice?
Also I read up on the offline wallet, yup can't wrap my head around it. Anyone who can explain in layman's terms?
And last but lot least. If what I want is 55cash (I have it set to show cash value) will I need extra? Like are there any extra charges at check out? How much more should I put in my bitcoin account here?
I have a million questions but can't think right now. I don't wanna fuck up somehow so I hope you agree that no question is to dumb because I don't wanna annoy the shit out of anyone.
www.canadianbitcoins.com is where I would go. Also, I've not had coffee this morning so I'm not going to bother to review it for how valid it is a response to your questions, but I wrote a post a while back on Bitcoins and security, so here it it:
"Bitcoins are online currency.
To obtain bitcoins, you can exchange money for bitcoins in any number of places.
MtGox is a good place, plus there are dozens of people on SR. However, you must always be wary of scams and the like.
MtGox can be found at MtGox.com and help using it can be found here: http://dkn255hz262ypmii.onion/index.php?topic=62789.0
When you go to use bitcoins, you should be careful not to leave a trail.
Use wallets. Buy bitcoins with the money of a friend if you can, or family preferably. Then transfer the bitcoins to one of these wallets. They're all over. Let me know and I can link you to a few trusted ones.
That wallet will be disposable for buying bitcoins. Once you transfer the funds out, delete it.
Then you transfer funds to another wallet. This can be your main one. Have a very strong password, and don't delete it.
Once you're ready to buy, you can transfer from your main wallet to a temporary (delete it after) wallet for transactions. Then, however the protocol for buying on the site you're buying from works, you'll probably transfer funds to a wallet you keep with them. Use this only for money you're about to spend.
Silkroad uses a wallet which you put bitcoins in and then spend out of. It's convenient. There are lots of guides on buying on SR so I'm not going to go into it. A quick search will reveal all you need to know.
That guide is a general overview, and it goes through my personal, medium-level paper-trail-reduction system. :P Use that when making illegal purchases.
Bitcoins and SR themselves are not illegal, but depending on where you are might arouse some suspicion so if you have to let on that you're into bitcoins, at least cover the trail to SR or you'll have someone looking at you a bit closer.
I hope this has helped. Feel free to PM me with any more questions you may have."
I'm not 100% about how offline Bitcoins work, but this raises that question with me, so I'm off to go do research on it!
Good Luck!
- The Consultant