Silk Road forums

Discussion => Off topic => Topic started by: treejay on September 02, 2011, 03:43 pm

Title: Paypal
Post by: treejay on September 02, 2011, 03:43 pm
anybody willing to send me some bitcoins if i gift them money on paypal. theres no way i can cancel or chargeback.
you have to be a moderator or a well trusted person with a great rep.
i will be gifting the money first then you can send me the coins.
Title: Re: Paypal
Post by: treejay on September 02, 2011, 04:28 pm
ok walk me through this. i buy L$ with paypal on virwox then what. im a noob man
Title: Re: Paypal
Post by: treejay on September 02, 2011, 04:32 pm
i cant use virwox. i says you have to validate your account at a terminal. we have no virwox terminal
Title: Re: Paypal
Post by: profspudhed on September 02, 2011, 05:14 pm
validate at a terminal means one in second life not a physical terminal, you need to setup a second life account, teleport your avatar to one of the virwox terminals and it will link your account after that you need never touch second life again. should you be in the eu you can also use paysafecard or ukash to do it, but its best to take that through an extra step (neteller) to get the best rate, here are the methods i know of so far and the rates:

Cash>paysafecard>virwox>BTC  rate 20%
Cash>paysafecard>neteller>virwox>BTC  rate 4.75%
cash>ukash>neteller>virwox>btc  rate 4.5%

there are also several dodgy looking russian exchanges that will convert paypal/ukash/paysafe to liberty reserve but again rates here are astronomical thing £1=$1.2LR considering the actual current rate of £1=$1.62 even if they dont just steal your voucher they are basically robbing you blind, the cheapest way is usually to do a bank deposit, the annoying thing here though is it takes some 3-4 working days to process (i still fail to understand why this is)

also be aware virwox blatantly lie about their bitcoin withdrawal system, on the site it says "payouts are usually processed instantly but a few are checked manually for security reasons" those few are actually not a few but each and every single one, ive never had an instant payout once from them, at best hope for 24hours if its in the week, if you hit payout friday night then dont expect to see your coins till monday afternoon at least so as always plan well ahead, also be aware that virwox also only deal in whole bitcoins, not even a single decimal, so be prepared to have some sll left over in your account. it sure would be nice if there was somewhere that actually made it easy to buy btc. when virwox can accept paysafe and neteller bot that and ukash why isnt there somewhere just straight exchanging them for BTC at say a 5-10% fee youd make a mint

there is also xmlgold who will exchange paysafe for LR but again dont expect great rates, in fact i have only seen a single site with a near reasonable rate and thats libery4ukash.com they offer £1=$1.4 but the site is arguably the dodgyiest looking of the ones ive found yet so the higher rate makes it even more suspect
Title: Re: Paypal
Post by: treejay on September 02, 2011, 06:12 pm
i appreciate the help. i have my btc now. this is a great little thing they got going. i didnt even know about second life.
Title: Re: Paypal
Post by: SkyB86 on September 04, 2011, 11:03 am
Paypal>Virwox>SLL>BTC>Silk Road

That's what i used, such a rip off...
Title: Re: Paypal
Post by: diatribe on September 04, 2011, 04:10 pm
Cash>paysafecard>neteller>virwox>BTC  rate 4.75%

So I just take 4.75% of the amount of cash I'm going to use, and add that number to my total so I can cover that rate, right? For example, if I used $30, I'd have to have $31.42?
Title: Re: Paypal
Post by: SkyB86 on September 04, 2011, 04:22 pm
Yeah that's right ;)
Title: Re: Paypal
Post by: profspudhed on September 04, 2011, 04:44 pm
Cash>paysafecard>neteller>virwox>BTC  rate 4.75%

So I just take 4.75% of the amount of cash I'm going to use, and add that number to my total so I can cover that rate, right? For example, if I used $30, I'd have to have $31.42?

not quite, there are also commissions at each change of currency, but as it is they pretty much got us by the balls so they get away with it, you get discounts on the commission as you trade more so how much it costs you is a bit variable, ie i think the current rate is 50sll + 3.5% so your say £20 @ 416.1 SLL per £1 would actually give 7980 SLL after the commission (342 SLL) in general overall youll lose around 10% of what you actually put in but thats the price you pay for the convenience, you get much better rates at exchanges like the intersango ones where you just deposit cash into the account, the only annoyance with that is the 3 days it takes for the payment to be processed and who knows what can happen to the price of BTC in 3 days
Title: Re: Paypal
Post by: diatribe on September 09, 2011, 12:24 am
One dude is saying 4.75%, another is saying 10%. Can someone who's taken that route say which is correct?
Title: Re: Paypal
Post by: johnwholesome on September 09, 2011, 03:51 am
One dude is saying 4.75%, another is saying 10%. Can someone who's taken that route say which is correct?

That's just it, it changes all the time. The aggravating problem with virwox is that you can't exchange directly but have to go via another virtual currency called LindenDollars. They're used in SecondLife, some simulation whatever.

So you go Cash -> LindenDollars -> BTC

it sucks really...