Silk Road forums
Discussion => Newbie discussion => Topic started by: reeki789 on July 07, 2013, 10:37 pm
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Ok. So recently new rules have come out in my country requiring people to be verified to buy bitcoins. Verification requires a photo id, and a utility bill with your name and address on it. This is meant to allow bitcoin companies to follow government money laundering regulations.
Clearly this raises concern for people who use SR.. The first concern being "if they have my ID they may flag my mail", which is highly unlikely but it does leave a trail if a pack is detected. Just trying to get peoples input.
Have you used SR while being verified on these sites??
Also does anyone know of ways to buy coins outside of these regulated companies? I know people don't like selling them on ebay because of chargebacks and stuff. Is there anything like this for honest people who aren't trying to scam people?
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If you are in a good area localbitcoins.com is a good way to hhok up with local people and buy with cash. No need for ID
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i'll check it out but a doubt anyone local in my city is selling enough.
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Are you in Canada? I've found that a couple of the Canadian exchanges have instituted these requirements. It's very frustrating to say the least, since I don't have any utility bills in my name.
I can't see how it would be possible for a private company like a bitcoin exchange, to share much info with LE or postal services. For example, my friend works at a casino, at which money-laundering is a possibility and a concern, but the casino's efforts amount to making a list (of people who win over $10,000 and leave with the cash), that they send to government every 60 days. There's just no way they'd be updating who has large amounts cash in real time. I'm almost certain that the same applies to bitcoin exchanges. If someone is selling thousands of dollars worth of BTC on a regular basis, eventually it is likely to get noticed. Somebody buying a few hundred dollars worth from time to time, has to be so common that there is no point in even keeping track. Do you think the bank keeps track and writes down all the serial numbers when you go in and withdraw say $2500? You *could* be buying drugs with that cash, but there's no way to keep track in a way that would make any sense.
All that said, I do think there are better ways to get BTC. As mentioned, localbitcoins is pretty good, and you can often find people who will do online transactions. Have you made any SR purchases so that you know some vendors? I've found that after a few purchases, it's possible to approach vendors who are solid, and make some sort of deal to buy BTC from them (which they are quite eager to liquidate for cash or other funds). For obvious reasons, I won't go in to too much detail about what arrangements I make. It's hard to recommend methods to get BTC without knowing where you're located though.
Hope this helps.
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i'll check it out but a doubt anyone local in my city is selling enough.
You'd be surprised-- well depending on if you've checked out the site yet or not :P But yeah, it's an excellent excellent, easy, less expensive way to get coin. Me? I'm buying coin this way while it's on sale and while everyone panics trying to figure out a way around formal companies who are now asking for ID, address, name, DOB...
Smoke weed everyday...
Cept when I'm out and waiting on the postmane, mane :D
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Yes in Canada. I'm going to check localbitcoins now.
And I agree with you ZXY, I don't expect anything to come from the verification. I am going to get a friend to verify a account this week, just to see how the whole "verified" process works. Like if they need to deposit the $$ themselves, or if i can just do it myself under their name. I do not exceed 3000$ deposited each month.
Unfortunately i had a great friend who was helping me out with this anonymity, who is now completely free of drugs and hates them :\
I am curious how you deal with vendors who want to exchange their bitcoins for $$.. I'll PM you about this.