Silk Road forums
Discussion => Silk Road discussion => Topic started by: erica on February 12, 2012, 08:05 am
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I'm debating on which to use with bitinstant.
I was signed up with MTGox but then read it was hacked & Trade hill was cheaper and more secure.
any suggestions?
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Mtgox for me has been MUCH faster, but i trade in gbp so have either them or inter-suckass-sango
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Either one. I use Mt.Gox because I tend to leave some cash behind since I only buy BC on a per purchase basis so I have a few bucks extra cash there. And the BC price between the 2 is pretty negligible. I also have heard that TradeHill can be very slow sometimes.
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I use Tradehill. Mostly for two reasons:
1) MtGox has publicly stated that they will assist LE in any investigation. Tradehill might also but this shows, to me at least, a little too much motivation on MtGox's part for my taste.
2) You cannot use Tor with MtGox. If you do they will lock your account. They will automatically assume that you are engaged in illegal activity. It's just to easy to accidentally access it through TOR.
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I use Tradehill. Mostly for two reasons:
1) MtGox has publicly stated that they will assist LE in any investigation. Tradehill might also but this shows, to me at least, a little too much motivation on MtGox's part for my taste.
2) You cannot use Tor with MtGox. If you do they will lock your account. They will automatically assume that you are engaged in illegal activity. It's just to easy to accidentally access it through TOR.
.....agreed I'm done with MtGox anyone that would so easily work with LE is no friend of mine!
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But of course that they will assist with LE in investigation. I mean, any legal company must to comply with LE if there is a valid court order or warrant. I do not see them saying that they will not assist, it would be hard to believe that any company would say otherwise..Mtgox is in Japan jurisdiction and been ask many many times about law issues so they did not have any other way then say what is required by law. Tradehill were not in same situation so they did not need to announce anything.
If you read legal on tradehill site you will see that they will also assist with LE in country where tradehill is registered (usa).
-Laws in the country where the user resides may not allow the usage of an online tool with the characteristics of TradeHill or any of its features. TradeHill does not encourage the violation of any laws and cannot be held responsible for violation of such laws. For all legal purposes, these Terms of Use shall be governed by the laws applicable in the state of Delaware, United States of America. You agree and hereby submit to the exclusive personal jurisdiction and venue of the state of Delaware for the resolution of any disputes arising from these Terms of Use.
-We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others' rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.
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Thanks for responses. I think I'm going go with Tradehill for now and see how it goes.
I'm planning a bank transfer Monday thru bitinstant so we'll see.
I'm not comfy with any mention of LE
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Is there a referrel code for Trade hill? I saw a box to add one when i went to join ....could I save money?
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There are referral codes and I think it saves you a tiny bit, plus referrer gets maybe 10 percent of your orders or something... but it would be a huge risk to link two accounts from anyone here at SR. You are about to link your bank acct (bank transfer?) to the tradehill acct through bitinstant, so unless you are doing a cash deposit and always access TH through tor it just seems really dangerous to me. I have never heard of anyone exchanging the referral codes unfortunately.
I would actually recommend the cash deposit through bitinstant to TH, even though you will pay a couple extra percent points for the fee. You have the money in the TH acct by the time I am back from the bank and its so easy. Plus I feel it adds a tiny bit more security than linking a bank acct.
A couple things to note about tradehill... Withdrawing money is not the easiest unless it is in the form of bitcoins I have heard but I dont know if this has been straightened out. Buying and pulling coins is never a problem. But do NOT use the instant buy feature... it never works and was frustrating when I first came. Just do a buy order for a little higher than the current avg and you can get coins right away and it is still cheaper than the instant buy or using get-btc.
Good luck,
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I don't have a banking account and i was only gonna use tradehill for bitcoins.
So i should be OK right?
I'm doing an anonymous bank transfer Monday, not from any account.
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When you said bank transfer I assumed it was through bank accts or something like that. If you arent linking your SR acct to your TH acct by the referral code it should be fine. I just dont know where to get a TH code off SR, and was just saying that could be crazy dangerous unless you are very careful.
Are you using cash deposit or is there another method I missed?
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I was just doing a cash deposit. I don't have any bank accounts cuz an ex boyfriend trashed my credit so they let seizing my bank accounts.....it was awful.
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MTGox wont let you really close your account just wont let you access it anymore? and keeps your records for 5 years. Dwolla keeps them for 3...for what its worth
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They seized your bank accounts?! Sorry to hear that. If he has a job now and you have any evidence you should sue him or at least try to get you credit cleared up if its possible. Good luck with all that, I hope it get straightened out and karma gives your bf what he deserves.
I am happy with the cash deposits, its what I use too since its so quick and easy. Good luck with tradehill, its not difficult just check the market data to see what you should offer for your buy order.
Oh and one more tip, only buy coins right before you are going to use them. I unfortunately have been waiting on a listing a vendor announced and bought coins in expectation a few days ago. The listing still isnt up yet and I have lost about 40 dollars due to the btc value decline. Really frustrating sometimes.
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MTGox wont let you really close your account just wont let you access it anymore? and keeps your records for 5 years. Dwolla keeps them for 3...for what its worth
Why would they do that? Now your scaring me!
Does trade hill pull crap like that?
What about the other sites bitinstant will transfer to,,,,any others good?
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They seized your bank accounts?! Sorry to hear that. If he has a job now and you have any evidence you should sue him or at least try to get you credit cleared up if its possible. Good luck with all that, I hope it get straightened out and karma gives your bf what he deserves.
I am happy with the cash deposits, its what I use too since its so quick and easy. Good luck with tradehill, its not difficult just check the market data to see what you should offer for your buy order.
Oh and one more tip, only buy coins right before you are going to use them. I unfortunately have been waiting on a listing a vendor announced and bought coins in expectation a few days ago. The listing still isnt up yet and I have lost about 40 dollars due to the btc value decline. Really frustrating sometimes.
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I noticed the price went down again......do sellers on SR always charge 7.50 per bitcoins? It looked like it was at 5.4 today...is there any way to buy at market value?
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For moneypak -> btc on SR the fees are always ridiculous. minimum i have found was 10 percent, which is double what you will pay on bitinstant.
On tradehill you can buy coins for nearly the market value. less than ten cents above the current market average if you want them immediately, less if youre willing to be patient.
however, I bought coins before the weekend when they were close to 6, so now by holding onto them I have lost a good bit of money since the coins are worth less than i payed for them.
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Oh I can keep it on tradehill as usd cash until I want bitcoins? Is mtgox the same?
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Yes, Mt. Gox and TradeHill are basically the same. I use Mt. Gox because I believe, correct me if I'm wrong, that it's a bigger market and BC there tend to be just a hair cheaper. Also, I've read somewhere here that TradeHill can be slow in fulfilling bc orders. But if you have the time either one will be fine. Just use a tormail address associated with whatever user name you pick, do a cash deposit through Bitinstant/CashTrust and you're pretty anonymous, all things considered.
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Yes, Mt. Gox and TradeHill are basically the same. I use Mt. Gox because I believe, correct me if I'm wrong, that it's a bigger market and BC there tend to be just a hair cheaper. Also, I've read somewhere here that TradeHill can be slow in fulfilling bc orders. But if you have the time either one will be fine. Just use a tormail address associated with whatever user name you pick, do a cash deposit through Bitinstant/CashTrust and you're pretty anonymous, all things considered.
The main downside to MtGox as I see it is that you cannot access it with TOR. If you do they will freeze your account until an investigation is complete. Correct me if I'm wrong. Seems like it would be awfully easy to do by mistake.
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Yes, Mt. Gox and TradeHill are basically the same. I use Mt. Gox because I believe, correct me if I'm wrong, that it's a bigger market and BC there tend to be just a hair cheaper. Also, I've read somewhere here that TradeHill can be slow in fulfilling bc orders. But if you have the time either one will be fine. Just use a tormail address associated with whatever user name you pick, do a cash deposit through Bitinstant/CashTrust and you're pretty anonymous, all things considered.
The main downside to MtGox as I see it is that you cannot access it with TOR. If you do they will freeze your account until an investigation is complete. Correct me if I'm wrong. Seems like it would be awfully easy to do by mistake.
You are 100% correct. Stay away from MtGox. Whatever happened to buying Bitcoins through Get-Bitcoins.com? Any company that will sell you Bitcoins without asking for documentation is to be preferred over MtGox, which requires a color copy of your state-issued ID.
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I signed up for Mt. Gox with a user name and an associated tormail address. Absolutely no documentation was required but I'm just exchanging US$ to BC. I agree that not being able to access it through Tor is a potential security flaw for us here - I guess if LE were to seize your computer - but if you use bitinstant to make cash deposits you're pretty safe. And I also don't see how they can seize my account when I can never even sign in there through Tor. I always get a message saying something like "There have been too many attempts to access Mt. Gox through your IP number.
This can be seen at tradehillblog.com
TradeHill suspending trading and returning client funds
Posted by jeredkenna in Uncategorized on February 13, 2012
::::: Announcement :::::: TradeHill suspending trading and returning client funds.
Dear Clients,
Effective immediately TradeHill will be shutting down trading / deposits and returning all client funds.
Due to increasing regulation TradeHill can not operate in it's current capacity without proper money transmission licensing. Combined with multiple bank account closures and Paxum's decision to close all Bitcoin business accounts, we have deemed the best course of action is to halt trading and pursue licensing while raising funds.
Everyone at TradeHill has also been working without pay for several months after one of our payment processors removed over $100,000 dollars from our account without notice. We decided to eat this loss instead of passing it on to our customers.
We will be focusing on Bitcoin.com and are preparing to release a new site before the end of the month.
It has been a pleasure working with the Bitcoin community and look forward to continuing our business in the future. More details to come soon.
Sincerely,
Jered Kenna
Chief Executive Officer
TradeHill
Please send all press inquires to: press@tradehill.com