Silk Road forums
Discussion => Silk Road discussion => Topic started by: MrOldVillage on November 24, 2012, 05:02 pm
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I could benefit from exchanging my bitcoins for moneypaks to load them on a prepaid card for spending 1-2k/month. It looks like all the SR sellers are charging over 10% to convert these, and I would just be pocketing this fee. It would not take long to pay off the cost of a seller account upgrade at that rate.
I am not sure how to do this without having it linked to my identity though. I recall I had to enter my social security number when I ordered the prepaid card. This is fine unless I can get in legal trouble for selling on here with taxes or whatever.
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You probably have to end up stealing someone's identity to do this successfully.
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I don't see why there would be a problem in exchanging bitcoins for monaypaks, then either cashing them at an ATM or sending to a bank account, as long as you take great precautions in laundering the bitcoins first. If they are properly untraceble, then how could anybody find fault in getting money from moneypaks? That's what MPs are for. You could get paid in moneypaks for a multitude of completely legal things in the real world.
To me there's no way to get in trouble doing this, again if done properly. If anyone has a differing view, I'd like to hear about it, explained in detail if possible.
goblin
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Greendot knows every moneypak that has been loaded on my card from random places all over the country, and if law enforcement sells me a moneypak, they can link up my real name to silk road. I don't see how laundering the bitcoin is going to help anything.
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I think you're talking about buying moneypaks from multiple sellers. If you stick with one, you're all right. If you launder coins, there's no way to trace them to SR activity. If a MP is traced to a SR seller, it still only shows you got a MP, especially if you use a different user account than the one you use to sell stuff. If that's what you do, I still say it's relatively safe.