Silk Road forums
Discussion => Newbie discussion => Topic started by: wl2ong1 on May 08, 2013, 06:48 pm
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I personally use localbitcoins (Can be used anonymously) or craigslist to get my BTC. I feel that meeting face to face and handling the transaction is the easiest and quickest way. You can have the BTC sent straight to SR from whatever wallet they have. If you use local and they follow the proper procedure, they send it from local wallet to local wallet, which is an instant transfer... Then you can send it from local to SR... Takes less than 45 minutes.. By the time I get back home after purchasing my BTC, waiting for the first confirmation, and then driving home... BTC is in SR wallet.
It doesn't matter what wallet they use, you simply use blockchain.info/address/"Your address" and it will show the transaction. Wait for 1 confirmation and your business is concluded.
Just a helpful tip. I am sure it's been posted, but you never know.
Anyone else feel like sharing their experiences, feel free. :)
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It's a real issue where I am, because there's not a lot of localbitcoin vendors close enough.
Looking at their prices, I've so far found the BTC sellers on SR to be the better deal - 15% above MtGox's daily high is typical!
Seems I could get 15% - 20% cheaper by shopping around on the exchanges - but only via bank transfers and often with a lot of ID verification.
My #1 priority is anonymity and tumblers are unreliable, therefore a cash transaction somewhere along the line is required to separate me from the blockchain. UKash is the only alternative I've found to cash-in-mail, but buying with that is fiddly and increasingly rare.
I bet obtaining bitcoin is a major obstacle to trade on SR, assuming most people care about the inherent incrimination of the BTC blockchain. I've also read about how hard it is for sellers to convert their BTC earnings without suspicion. There's currently only a few money-in-post-for-BTC vendors competing on SR, so it's a pity all sellers don't use such transactions as a way of cashing out. Everybody would win as our collective dirty bitcoin cycle through the site over and over...
Presumably they don't do this because you have to provide a mailing address at which to receive the cash.
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When I first decided to order from SR, there was nothing local for me to pick-up bitcoins. However, since I started traveling to larger cities. I bounce every few weeks and I make sure that there are local prior to visiting said city.
It's unfortunate that their aren't more local BTC vendors. In my experience, everyone I have bought BTC from have been individuals that lean in the direction of "nerd". Really pleasant, more than happy to answer questions. I've been very happy with finding them local. Once I find a good local, I use them constantly...
Speaking of BTC... That just gave me a possible future idea for vending BTC.. I'll have to give it some thought and research and build up a trusty rep, but I think I can bring BTC to those that can't gain access to them easily and just ask the same price I get them for, if someone wants to tip, they can. That's my whole idea for coming to SR to get great MC... I just want to bring people a relief from all the shit that life can throw at you...
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Personally i've used BitInstant but they have had too many problems and errors it just sketches me out.
Recently though i've been just transferring funds from my bank to Dwolla to a website called CampBX (a trading platform) and the charge is 25 cents per transfer.
I've also heard Blue Sky Traders is the best for ultimate anonymity. (Cash deposit at a bank)
Blue Sky Traders: http://ok2yri46aaptiu2d.onion/index.htm
CampBx: CampBx.com
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I researched the forums before ordering my coins.... I found two legit options for me.... I went with JumboMonkeyBiscuit... not sure if they'll work for your cashing out but they have all kinds of stuff listed that it coin related
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There really are a ton of ways to get BTC but it makes a big difference where your located...
Never had a problem with bitinstant..
A quick google search will get you to a wonderful wiki with every btc option available
https://en.bitcoin.it/wiki/Buying_bitcoins