Silk Road forums
Discussion => Newbie discussion => Topic started by: PAK1 on April 04, 2013, 03:20 pm
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Please help me to know if this scenario is secure enough to cash out bitcoins.
A friend of mine has a business that sells digital goods, if he state on his website that he accept bitcoins and open a mtgox account will it be safe for me to sell on SR, send money to a mtgox account and resend it to the guy so that he can give me the the value of the bitcoins in USD. Will this be safe enough for both of us?
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what does his accountant say about having to map bitcoins against sales? if he's legit then he has to be able to be able to show the tax man his books if they ever come knocking, which they might if they notice a jump in turnover and he'll be liable for tax on the coins when they're converted.
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that leaves me a bit lost. For now i do sell some stuff for friends but its to risky because this means i have to travel with the shit on my pockets lots of times to places where sometimes the police show up to check peoples pockets. I would like to avoid this. I wish to avoid also mobile communications. I realized SR is the most secure way to sell all the shit without getting referenced but the withdrawal of funds is now my main difficulty.
Regarding my friends business, is totally legal and i don't think he declares all the stuffs he sells. But i agree an huge increase in sales can became suspicions.
Can some one tell me if the anonymous credit card available in SR really work?
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have you looked at https://localbitcoins.com/ as a temp solution/last resort?
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I did, but the products i do have have a lot of demand on SR, i don't think i would be able to trade 5 to 10 bitcoins daily using localbitcoins. A really need a solid method to cash out without getting caught.
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i have faith that i will get a solid answer even before i get to 50 posts. Witch is logic because i wont use this account after the "beginning of the game" ;)
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Well, localbitcoins could still be an option if you're close to a major city. Where I am the traders with the most sales appear to be the ones where the minimum purchase is over 10 bc at the current price and they reviews appear to be pretty frequent. If nothing else it might do as a way to get rid of some of them.
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Well that will be an option for sure, I am just not willing to waste my bond. Has a last resort i will open 20 SR accounts and pass the BTC thru them all and buy some stuff that i cant get here, but that's not really the purpose because no one offers me the stuff, and the just accept payments using physical money. I think i will give it a try with small quantities and if i get to sell the BTC's i maintain the business.
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Any new ideas on this? i am just this bit away from opening my seller account on SR.
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Well, it would be great to have an answer from a reputable seller who can cash out BTC's with minimum risk.
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it is very unlikely anyone is going to tell you how they do it for two reasons.. the first is that it exposes them and if LE are hanging around gives them clues and the second is because if more people start to do it their way it might become noticeable and put everyone at risk.
Honestly, you are just going to have to work it out for yourself and then keep quiet about it.
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I kind of realized a way of cashing out the BTC's but ill need to use mtgox. Do tou people think that it will raise a flag?