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Market => Rumor mill => Topic started by: MiddleEarth on July 03, 2013, 10:48 am

Title: MiddleEarth: Review and feedback thread.
Post by: MiddleEarth on July 03, 2013, 10:48 am
I'll avoid writing a novel here since my vendor page is more or less comprehensive. If you've had a positive experience, or would like to comment on my services, then you are welcome to do so in this thread.



THE DEFINITIVE NEW ZEALAND GUIDE TO GETTING BITCOIN


mtgox.com

Pros
Relatively straightfoward. Best exchange rate due to enormous volume of orders that mtgox services.

Cons
You have to present photo ID as well as have a domestic bank account, thus a papertrail is unavoidable. They also block connections originating out of the TOR network.

How to
Go to mtgox.com and sign up for an account. You will need to become verified which involves submitting photo identification and a proof of address (Such as a powerbill). You could theoretically use forged documents, but if the details on the mtgox account don't match the details of the domestic bank account that the funds are being sent from, mtgox will not process the transaction.

Once the account is completely up and running, log into your account, select "funding options", then from the pull down menu select "bank transfer". At the bottom of the page will be the "wire information". Print it out, write it down, whatever.

Take that information into the bank, present it to the teller, and say that you want to make an international wire transfer. You will be asked for photo ID, and the money must come out of an actual bank account. So, if you have cash, the teller will deposit it into your bank account, then process the wire. Depending on your bank, you will also have to pay a fee. As of writing Westpac charged a fee of $25, other banks are similar. You will also pay roughly $13 in japanese yen as a fee on mtgox side.

That's basically it. If you're lucky, the money will show on your mtgox account the same day or overnight. If you're unlucky, the teller will fuck up the wire information and your payment could be delayed by a few days while the mtgox AML team figures it out. This may involve sending mtgox the receipt of your payment that you received from the bank, so be sure to keep it.

To actually buy the BTC, simply put in the amount of money you want to spend, and click "BUY BTC". Your money will automatically be converted into BTC at the best market rate.

mtgox is your best bet if the quantities you are buying are so little that it would never warrant attention from LE. If you intend to buy bulk, however, mtgox is fairly risky. Given the vast reach of the NSA and PRISM, the GCSB collaboration with american interests, and the destined crackdown on cryptocurrency, you may wish to consider alternatives.


virwox.com

Pros
Can fund a virwox account with a prepaid credit card, thus leaving no paper trail. virwox also processes a lot of orders (Though not nearly as much as mtgox), mean the exchange rate is decent.

Cons
Deposit limits for the first three months. Anal rententive admins who will ban your account the moment they suspect money laundering, drug purchasing or you simply do something they don't like. Poor customer service. "manual steps" that delay the transaction by a few days. Fairly heavy fees. Confusing website to negotiate, especially due to the fact that you must convert USD to linden dollars to BTC, and cannot simply convert USD to BTC.

How to
Unlike mtgox, you can make a deposit right off the bat. You only need to verify your account (using documentation) once three months have passed and you want to increase your deposit limit.

To deposit, select "deposit" from the menu on the right, and select a funding options. If you use a credit card, be aware that both skrill and paypal tend to be watchful for dodgy dealings, and if you use a paypal account, it has to match the details on the virwox account.

Once you have made your deposit, select USD/SLL (or whatever currency you deposited) from the menu on the left, and convert your cash into second life lindens. Then, select BTC/SLL and convert your SLL to BTC.

You will probably notice at this point that you have lost a fairly stinging portion of your original balance to fees. Such is the price you pay for the privellige of buying drugs online, I suppose.

Anyway, now all you do is select "withdraw" from the menu on the left, and you enter your BTC amount and SR wallet address. Ta da.

Well, not quite. You're probably going to be told that you transaction requires a "manual step". What this means is some dude has to manually look at your transaction and a-ok it. I've never been denied at this step, but it's still fucking annoying.

Once it's approved, however, it's a small matter of waiting the two hours for the coins to appear in your account.


bitnz.com

Pros
Tiny fees. Completely anonymous deposits (But not withdrawls) if you use a smart ATM (And dress appropriately, see below).

Cons
Exchange rate is bad due to the fact that there are no other competing exchanges in NZ. Expect to pay 20-25% more per coin over the mtgox weighted average. Site owner only processes deposits when he feels like it, and sometimes he doesn't feel like it for up to five days.

How to
Go to bitnz.com, sign up for an account, and get the guys westpac bank account number. Go into the bank, send the guy some money, wait for him to process it, then buy some bitcoins from the order book on the website.

SUPER SECRET AGENT BONUS OBJECTIVE

Wait until after business hours, put on your motorcycle leathers and helmet, and ride (you do have a motorbike, right?) down to the nearest Westpac smart ATM lobby. Use the ATM to deposit the funds into the bitnz account. The helmet will conceal your face from camera, and you don't have to declare any personal details when making the deposit.


Be aware that although virwox and bitnz offer financial anonymity, you can still be traced by logging on to these websites using your home internet. There are plenty of options for web anonymity, but they are far too expansive for me to go into here.

I think that should be enough to get anyone started. Please refrain from asking me for a meetup. I'm not really inclined to head on over to Mt Wellington or Howick only to find that instead of that $40 I was expecting for that two grams of bomb ass hash, you're placing me in cuffs and in the back of a squad car. I will not do any offline deals with strangers. No exceptions.

If i missed anything, don't hesitate to post. I'm always interested in increasing my knowledge of cryptosecurity.
Title: Re: MiddleEarth: Review and feedback thread.
Post by: kavakava on July 09, 2013, 11:12 am
@MiddleEarth.
What's your opinion of BitInnovate, as a way to get bitcoins?

I know they are down at the moment for some kind of amazing re-launch, but they have been selling BTC on this side of the ditch since January.
Title: Re: MiddleEarth: Review and feedback thread.
Post by: fiveotwo on July 09, 2013, 12:45 pm
I've had success in NZ with Local Bitcoins, coined, and bitinnovate (personal favourite).

Also I'd like to recommend MiddleEarth for his great service, I had a very positive experience receiving a free sample of 25i, and wouldn't hesitate to order from him again.
Title: Re: MiddleEarth: Review and feedback thread.
Post by: MiddleEarth on July 23, 2013, 12:39 pm
@MiddleEarth.
What's your opinion of BitInnovate, as a way to get bitcoins?

I know they are down at the moment for some kind of amazing re-launch, but they have been selling BTC on this side of the ditch since January.

I will definitely look into it when they come back online.
Title: Re: MiddleEarth: Review and feedback thread.
Post by: lssb2132 on July 29, 2013, 02:47 pm
Bought from MiddleEarth a while ago, everything went smooth and would order again. 5/5