Silk Road forums

Discussion => Security => Topic started by: TMan99 on August 17, 2013, 04:31 am

Title: Buying Bitcoins with Paypal
Post by: TMan99 on August 17, 2013, 04:31 am
I have used this method before and it worked for getting bitcoins, but I have questions about the anonymity of it.

*CLEARNET* http://bitcoinwithpaypal.com/

The fees were pretty heavy and hidden. At the end I got .1 BTC less than the exact exchange rate on coinbase, the fee % came out to be around 13-15% from an exact exchange. Pretty big, it was a small amount and I wanted to test it out so I didn't care.

It is not anonymous, if LE were to investigate you I wonder if they would bring it up and say what happened to the 2 BTC you bought? Where are they now? That could be used towards a conviction. I have the amount I bough in a BTC wallet and am unsure what I should do with it... Probably will just fog it up and use it here.

Local bitcoins bank transfer option seems to be better than this.
Title: Re: Buying Bitcoins with Paypal
Post by: wondercow11 on August 17, 2013, 04:58 am
I wouldnt trust it. when im EXTREMELY desperate, I go on bitcoin-otc.. some people accept paypal, but you have to gain trust.
Title: Re: Buying Bitcoins with Paypal
Post by: Boobonicchronic on August 17, 2013, 06:03 am
How much did coinbase charge you?
Title: Re: Buying Bitcoins with Paypal
Post by: flashlight5 on August 17, 2013, 07:52 pm
i took almost a minute of time and security wise could not come up with a worst way to buy bitcoins than using paypal
Title: Re: Buying Bitcoins with Paypal
Post by: Boobonicchronic on August 18, 2013, 12:27 am
Depends on if you are using your paypal or not.... Just sayin not everyone is going to the the paypal that is directly linked to me so that I leave a yellow brick road to my home for ANYONE to track....
Title: Re: Buying Bitcoins with Paypal
Post by: flashlight5 on August 18, 2013, 01:42 pm
sure... use your brothers paypal and throw him under the bus.

Well, lets say you are a small time buyer, spending $50 / month. Risk is not too big, that LE will spend hours and hours on tracing you. But buying BTCs in your own name is a bad idea if you also do SR. BTC is not something that government likes.  Not even to speak of the "dark forces controlling fiat currency" (do reading before saying its bs).

And paypal will hand out your info to LE   F A S T E R   than you can look. that can cause all sort of problems.

There is much better ways to get BTCs than use PP.