Silk Road forums

Discussion => Newbie discussion => Topic started by: twelvemonkeys on May 14, 2013, 10:40 am

Title: buying bitcoins - what precautions are necessary?
Post by: twelvemonkeys on May 14, 2013, 10:40 am
Hey, I'm from Germany so I've actually been using a German bitcoin website all along and bought them with my real bank account. Then I went ahead and laundered them via bitcoinfog and from there I sent them to the road.
I'm not even sure if this was secure enough (is it?) but since I never made, like, bulk purchases or anything that would get me into too much trouble and generally dont give many fucks about anything I just did it that way from the very beginning until now.

But now I'm thinking about going even a step further because I'd like to get my BTC to silkroad faster (because doing the bitcoinfog-step always takes like 6-9 hours total) and I thought about just sending them straight from the German btc-website (which is linked to my bank account) to my SR-account. I know this would be stupid and careless, but like.. in what cases would anybody ever find and check my SR bitcoin-address and then ask that website to give them my real address? I mean how risky is doing it this way?

Anyway, I'm glad for any advice and tip!
cheers
Title: Re: buying bitcoins - what precautions are necessary?
Post by: fiendish on May 14, 2013, 11:01 am
Hey, I'm no tech guru but each bitcoin address is unique, how would it ever be linked to your SR account?
Title: Re: buying bitcoins - what precautions are necessary?
Post by: malpractice on May 14, 2013, 11:07 am
Hi

It definitely depends on your level of paranoia - I am buying from bitcoinnordic.com via my bankaccount directly - send them to my wallet in blockchain and then to SR.
I know that others think this is too risky, but remember that it is not illegal to buy bitcoins nor is it illegal to use them on SR - non-contraband items are sold.

Mind you I am using various bank- accounts in 3 different countries, shuffling between them from time to time.
Title: Re: buying bitcoins - what precautions are necessary?
Post by: twelvemonkeys on May 14, 2013, 11:08 am
@fiendish
I don't really know much about this either, but I think you can track bitcoins and the transaction between each bitcoin-address via blockchain (http://blockchain.info/). And it's definitely gonna be easier to track where the BTC are coming from If you're not using a laundry-service-thing like bitcoin fog.
Title: Re: buying bitcoins - what precautions are necessary?
Post by: malpractice on May 14, 2013, 11:19 am
@fiendish
I don't really know much about this either, but I think you can track bitcoins and the transaction between each bitcoin-address via blockchain (http://blockchain.info/). And it's definitely gonna be easier to track where the BTC are coming from If you're not using a laundry-service-thing like bitcoin fog.

Remember that SR tumbles the bitcoins once they arrive there - that is why it takes longer time for them to appear on your account.

Title: Re: buying bitcoins - what precautions are necessary?
Post by: JumboMonkeyBiscuit on May 14, 2013, 11:44 am
Bitcoin traffic can be followed by using the blockchain info. However i have not been able to find anything that says they can determine exactly what the purchases were following the flow of the coins. Someone please correct me if I am wrong? The safer you can be the better. Bitfog basically works like a giant bank deposit that mixes everyone's money together and then returns your money in smaller increments to scatter the blockchain info. My suggestion.... Create a clean user name, one that is only used for transferring bitcoin in and out of SR. Go to bitcoin.org and get a paper wallet for offline storage as well.....Hypothetical here.... If you receive a deposit from your bank account purchase of 10 bitcoins into your wallet and you want to get them to the road. Have your coins posted to your offline paper wallet from the bank deposit. Transfer them out in smaller increments to your clean user name. Then transfer to your purchase name. SR has it's own built in sort of tumblr as well. You don't have to pay a fee to have them tumbled somewhere unless you really feel like you are safer that way.

Just our two cents

JmB
Title: Re: buying bitcoins - what precautions are necessary?
Post by: twelvemonkeys on May 14, 2013, 12:19 pm
Thanks malpractice, I totally forgot that SR has that, excellent! Well, I'll just take the direct way from now on, I don't have the patience to wait an extra 6 hours anyway.

@JumboMonkeyBiscuit lol, that sounds pretty safe, good idea anyway!
But I'll stick with keeping it simple, like I said.. no patience
Title: Re: buying bitcoins - what precautions are necessary?
Post by: JumboMonkeyBiscuit on May 14, 2013, 12:22 pm
No problem


You could always visit JmB for your bit coin.... ;)