Silk Road forums

Discussion => Security => Topic started by: g01d3n on January 15, 2013, 01:59 am

Title: Are Coinbase and Mtgox good sites to purchase your bitcoins?
Post by: g01d3n on January 15, 2013, 01:59 am
Hello everyone. I'm still fairly new here and I was just wondering are Coinbase and Mtgox good sited to buy your bitcoins. I'm aware there are plenty of sites where you can get your bitcoins, and I'm unaware what the difference between all these sites are. Thank you very much for your time.
Title: Re: Are Coinbase and Mtgox good sites to purchase your bitcoins?
Post by: g01d3n on January 15, 2013, 02:02 am
Oh, and also, are there any safe sites to directly buy bitcoins online. I've searched everywhere to no avail.
Title: Re: Are Coinbase and Mtgox good sites to purchase your bitcoins?
Post by: Killerherts on January 15, 2013, 03:48 am
It would be in your best intrest not to use mtgox or dwolla with anything attached to Silk Road they are all going to have paper trail best bet is buying through bitinstant if your in the united states or buy locally like me the fees are cheaper then bit instant
Title: Re: Are Coinbase and Mtgox good sites to purchase your bitcoins?
Post by: g01d3n on January 15, 2013, 08:28 am
Well dang. I already bought bitcoins off of CoinBase. I have Mtgox account, but I just won't use it. Thank you very much for your advice.
Title: Re: Are Coinbase and Mtgox good sites to purchase your bitcoins?
Post by: peeweed on January 15, 2013, 01:38 pm
Well dang. I already bought bitcoins off of CoinBase. I have Mtgox account, but I just won't use it. Thank you very much for your advice.

You can still use them on SR, it just would be a very good idea to mix/tumble the coins first.  blockchain.info has a wallet with an anonymous send option, it costs 1.5%, this will send "different" coins essentially masking your identity from the ones you purchased to the ones the blockchain sends (for the most part).  So send your coins to Blockchain.info wallet, then anonymous send to your SR wallet.

bitcoinfog is another mixing service, it costs 1-3% (random fee) and based on their FAQ is a very good mixer but can take longer.  When you send they ask how long to spread it out, they send random BTC amounts during that time so LE can't just search 10 BTC sent on this day to this account etc.   Personally I think this is a bit overkill, learn to use blockchain.info to search your BTC transfers and check taint (Search for from address).  Do a mock send, aka send to another wallet like instawallet to test your process and chain taint.

The cash to BTC services are good because your identity is hidden 100% (cash) and it is fast, getting coins directly to your SR wallet in hours (some people still mix but many do not).  Though this costs more, usually ~5%.  Where as using a more official method like mtgox and coinbase takes longer but is cheaper (up to 1% using coinbase) AND I would say REQUIRES mixing.