Silk Road forums

Discussion => Security => Topic started by: onetwothreeabc on August 24, 2012, 01:43 pm

Title: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: onetwothreeabc on August 24, 2012, 01:43 pm
When I first got into the bitcoin game, the only way I figured out how to purchase them was to sign up with Dwolla to withdraw $ first. From there I found that BitInstant will transfer my $ to Mt. Gox to then purchase BitBoins then from there transfer to my SR account. Now through out that process I realize they always take a % for commission of transferring everything. I looked and kinda tried Escrow but do not understand it. Is there an easier process then what I'm doing? or is this sufficient enough. Thanks everyone!
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Hamb999 on August 24, 2012, 03:08 pm
Hi 123abc,

I think BitInstant is the most convenient when you use the Moneygram option (CVS, 7-11, Walmart).  But you have to be in the USA, I think.  If you post your location (country), others can tell you what they do.

I have heard of a service that offers lower commissions to get bitcoin (BTC).  I can't remember the site and haven't tried it yet.  Unfortunately, BTC commission are a fact of life and unavoidable, just like Silk Road (SR) commissions.  But, hey, we all have to make money.

You say you tried Escrow but didn't understand it.  Do you mean SR escrow?  Because that is how you buy on SR and you have to have the BTC first.  Your money for the order goes to escrow.  You can then release it to the seller when your package arrives.   That's your protection from being scammed.  If the package doesn't arrive, the vendor has to show proof of delivery or you get a refund (not always 100% refund).

Here is a link to how I get my BTC:  http://dkn255hz262ypmii.onion/index.php?topic=37143.msg421258#msg421258

Good luck.

Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: onetwothreeabc on August 24, 2012, 03:52 pm
Wow! I didn't know you could do it Via CVS. That's much faster then waiting for Dwolla to clear the funds (3-5 days) I'll try that. I'm located in Wisconsin. Glad to hear I'm (kinda) doing this right. I appreciate the reply!!
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Wilfred A on August 24, 2012, 04:07 pm
I go to Wal Mart for all of mine using bitinstant :) Just go to bitinstant, and click the drop down panel for money gram, and then the next drop down panel for BTC Address, which you can get by clicking on "Account" on SR, and just copy and paste the long address. It's very easy, cheap, and quick. I think the longest I've waited for mine is like 2 hours, and that's probably because it was on a weekend.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: StonerReakingHavoc on August 24, 2012, 11:43 pm
I'll agree that Bitinstant >  Money Gram > CVS/Walmart > BTC addy   is a easy way to get coin.
The only thing is if you go to a place that does Money Gram with the red phone is that you spend twice the time there having to repeat everything you say because the person on the phone is in India (not making fun of people from there just saying it's hard to understand each other).
Always use fake information when they ask your name, house address & phone #
They might try to ID you sometimes they do sometimes they don't, just depends on who is working.
Just say you're paying a bill and you don't have a ID to open a bank account to pay your bills.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: JohnnyThunders on August 25, 2012, 12:09 am
A few questions:
Is it posible to use bitinstant with a TOR browser and a disposble email address?
Aren't there any risks accociated with depositing directly from bitinstent to a SR account?
Also, bitinstant is asking you for a city location before they let you print, would it be safe to give them your real city location?

I go to Wal Mart for all of mine using bitinstant :) Just go to bitinstant, and click the drop down panel for money gram, and then the next drop down panel for BTC Address, which you can get by clicking on "Account" on SR, and just copy and paste the long address. It's very easy, cheap, and quick. I think the longest I've waited for mine is like 2 hours, and that's probably because it was on a weekend.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: StonerReakingHavoc on August 25, 2012, 01:03 am
1. Yes & Yes
2. Sending it directly to SR wallet would be just like sending it to a online wallet then to SR wallet. You can always send your coin to a place like Bitcoin Fog to make your coins untraceable but that's up to you.
3. Yeah it's safe to put in your zipcode to for it to locate a place that does Money Gram, it doesn't save any personal stuff on the print out.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: treeline on August 26, 2012, 01:37 am
Just wanted to chime in to say I used this method today & it worked like a charm. 

Bitinstant -> cash/moneygram -> Walmart -> BTC wallet

:)

No issues except that the Walmart guy had never seen the zipzap form from Bitinstant before and wasn't sure how to do it.  Lol.  But, it got done eventually.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Wilfred A on August 26, 2012, 03:59 pm
A few questions:
Is it posible to use bitinstant with a TOR browser and a disposble email address?
Aren't there any risks accociated with depositing directly from bitinstent to a SR account?
Also, bitinstant is asking you for a city location before they let you print, would it be safe to give them your real city location?

I go to Wal Mart for all of mine using bitinstant :) Just go to bitinstant, and click the drop down panel for money gram, and then the next drop down panel for BTC Address, which you can get by clicking on "Account" on SR, and just copy and paste the long address. It's very easy, cheap, and quick. I think the longest I've waited for mine is like 2 hours, and that's probably because it was on a weekend.

I've been using TOR, along with the email address that I created through TOR because I like to see my successful transaction, not just waiting the little bit of time for the BTC to show up. I am a little impatient at times when it comes to my money :P
I haven't found any risks in it for the fact it is sent to some "ZipZap Inc" in San Francisco, and I use a fake name, email, and address when I make my moneygram.
If you know where your moneygram locations are in your town, you do not need to give them the correct location, because when you send that moneygram off where ever you're at to the certain account # provided from "ZipZap" it will get deposited into your account. My guess is due to the account number that they provide :P


I'm pretty sure, that when you give them the location, it is only to show you where your moneygram locations are. Just helps you out.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: cheezcake on August 26, 2012, 04:54 pm
Everyone is saying BitInstant -> MoneyGram -> Walmart, but on the BitInstant site there's a MoneyGram Option and a separate Walmart option. Do you guys mean that you're using the MoneyGram option on the site but physically going to Walmart to carry out the transaction? If so, what's the Walmart option on the site for?

Sorry if these seems like a stupid question. I've never used any of these types of services, so I don't know anything about them.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Dugers on August 26, 2012, 05:59 pm
Just wanted to chime in to say I used this method today & it worked like a charm. 

Bitinstant -> cash/moneygram -> Walmart -> BTC wallet

:)

No issues except that the Walmart guy had never seen the zipzap form from Bitinstant before and wasn't sure how to do it.  Lol.  But, it got done eventually.

I do this same thing choosing moneygramm, then choosing a walmart as my nearest location for a moneygramm transfer.

Only difference is when I go into walmart, I grab an 'express moneygramm' form (Blue form) fill out the zipzap info, account number for zipzap and other account number for bitinstant, then the rest of the information can be faked (all your personal info.)

Everyone is saying BitInstant -> MoneyGram -> Walmart, but on the BitInstant site there's a MoneyGram Option and a separate Walmart option. Do you guys mean that you're using the MoneyGram option on the site but physically going to Walmart to carry out the transaction? If so, what's the Walmart option on the site for?

I've done it both ways and ended up with the same transfer options.

Here are the charges I currently get from doing it this way:
3.99% of the total you are transfering (bitinstant charges) they take this amount out of your total.
$3.95 charge from zipzap which is tagged onto the top of what you are transfering.
I send it thru moneygramm at a local walmart but I havent yet been charged a moneygramm fee which has seemed to surprise the walmart receptionist.... so I don't know if this is a glitch in there system or if it is normal.

An example of $100.00 transfer:
3.99% charge on $100.00 leaves $96.01 going into mtgox
+$3.95 to the $100.00 = $103.95

So..
Total spent = $103.95
Total into MtGox = $96.01
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Wilfred A on August 26, 2012, 06:38 pm
Everyone is saying BitInstant -> MoneyGram -> Walmart, but on the BitInstant site there's a MoneyGram Option and a separate Walmart option. Do you guys mean that you're using the MoneyGram option on the site but physically going to Walmart to carry out the transaction? If so, what's the Walmart option on the site for?

Sorry if these seems like a stupid question. I've never used any of these types of services, so I don't know anything about them.

Haven't got a clue on what the Walmart option is for. It could be the little express money machine that Walmart has in stores now, instead of going to the counter for a moneygram. That's my guess, but I haven't tried it so I do not know. I just choose the moneygram option.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: onetwothreeabc on August 26, 2012, 06:43 pm
These are great responses! Appreciate all the help, I'll be trying the moneygram at CVS later this week.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: kirby12 on August 26, 2012, 06:45 pm
Bitinstant is super fast and you can use the drive thru at the bank.Way easier than going in Walmart or Cvs.  Just run in and grab a deposit slip. No questions asked and btc in minutes.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: BigPeyote on August 26, 2012, 09:43 pm
ive been using SR vendors is this a bad way? is it less desirable because of the fees?
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Wilfred A on August 27, 2012, 12:13 am
ive been using SR vendors is this a bad way? is it less desirable because of the fees?

Yes, the fees using bitinstant is 3.99%, and $3.95 for the use of another company through bitinstant. Much better commission rates than the sellers here.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: sheldonrandall on August 27, 2012, 04:41 pm
I purchased my first ones through getbitcoins or something like that.  But I want to use bitinstant using the bank deposit option.  But I haven't a clue who to send the deposit to.  How do I find out this info?  Please someone help me. I am new to this site.
Title: Re: How does everyone else purchase Bitcoins? Am I doing this right?
Post by: Wilfred A on August 27, 2012, 09:40 pm
I purchased my first ones through getbitcoins or something like that.  But I want to use bitinstant using the bank deposit option.  But I haven't a clue who to send the deposit to.  How do I find out this info?  Please someone help me. I am new to this site.


Have you gone to bitinstant and tried going through the options? It gives you all of the instructions when you fill out the first page. That is for the moneygram at least, I haven't tried the bank branch option.