Silk Road forums

Discussion => Security => Topic started by: Trippy Hippie on June 30, 2013, 06:50 am

Title: How good is coinbase?
Post by: Trippy Hippie on June 30, 2013, 06:50 am
Looking into new bitcoin buying options, without the stupid 4% fee that goes with a cash deposit on bit instant... Recommendations??

Is coinbase good?? What about Dwolla/Mt. Gox??
Title: Re: How good is coinbase?
Post by: FollowIcculus on June 30, 2013, 06:59 am
Blue Sky Traders when they are operational again.  Monday I believe.
http://ok2yri46aaptiu2d.onion/index.htm
Title: Re: How good is coinbase?
Post by: AbuNazir on June 30, 2013, 07:02 am
I had to fight with BitInstant to get my first order from them so I am in the same boat. I am all verified on Coinbase now so I am going to give them a shot. Honestly I am a little afraid because their website looks identical to BitInstant and I googled some unflattering reviews of 0 customer support, just like BitInstant. I have a feeling it might all be one company running several sites but maybe I am wrong. I'm trying to find an easy way to deposit cash into BTC-e. Their coins are always 5-10 dollars cheaper than gox and it's as anonymous as can be. Dwolla got shut down working with Gox by Big Brother. I would consider that burned.

If BST's is up Monday and selling I may try them first. I think the key right now is get as much bitcoin as you can afford in your wallet for now because the Feds are seriously cracking down on unlicensed currency traders, like Dwolla. I would get them while you can from BST because they will attract that attention sooner or later.
Title: Re: How good is coinbase?
Post by: Trippy Hippie on June 30, 2013, 07:07 am
I had to fight with BitInstant to get my first order from them so I am in the same boat. I am all verified on Coinbase now so I am going to give them a shot. Honestly I am a little afraid because their website looks identical to BitInstant and I googled some unflattering reviews of 0 customer support, just like BitInstant. I have a feeling it might all be one company running several sites but maybe I am wrong. I'm trying to find an easy way to deposit cash into BTC-e. Their coins are always 5-10 dollars cheaper than gox and it's as anonymous as can be. Dwolla got shut down working with Gox by Big Brother. I would consider that burned.

Interesting.. Not to mention, I saw something on Dwolla saying that if you attempt to access it through a proxy/tor network of any kind, they will suspend your account.... Not too reassuring lol.

How is Coinbase anonymous though? You have to register a legitimate bank account with them, seems to me like it wouldn't be very anonymous at all...
Title: Re: How good is coinbase?
Post by: Trippy Hippie on June 30, 2013, 07:12 am
Blue Sky Traders when they are operational again.  Monday I believe.
http://ok2yri46aaptiu2d.onion/index.htm

Heard of them, but I don't know their benefits... What's their pitch?
Title: Re: How good is coinbase?
Post by: AbuNazir on June 30, 2013, 07:16 am
It's not and that is my worry. Thats why I say have them deposited on an exchange. Buy and sell your coin a few times over a few days and then tumble it if you are still worried. SR tumbles it too, I don't see how it can be traced after that. Maybe it can, but I doubt it if you trade it on an exchange and move it through a few wallets and a tumbler before going here. I think the only stupid move is to buy them and send them straight to your SR wallet. That's asking for trouble. The shitty part is every time you transfer them or make trades on a market some middle man is getting a cut unless it's your own wallet. It's worth the 5 bucks in fees to me though to have clean coins.

Just FYI, BST isn't anonymous either. You gotta walk into a BoA and make a deposit. You are on a lot of cameras.

edit- sorry for the dbl post. Meant to hit modify not quote.
Title: Re: How good is coinbase?
Post by: FollowIcculus on June 30, 2013, 07:19 am
Blue Sky Traders when they are operational again.  Monday I believe.
http://ok2yri46aaptiu2d.onion/index.htm

Heard of them, but I don't know their benefits... What's their pitch?
There is no pitch.  You tell them how much $ worth of BTC you want.  They send you a message confirming your order.  You make a deposit at any Bank of America without having to show ID or any bologna like that and your coins are in your wallet usually within an hour or so.  Rarely they won't show up till next morning.  I would just suggest reading everything on the site I linked.  They update it (almost) daily.

Edit: They also have super competitive exchange rates.
Double Edit:  I guess this is only a viable option if you are in the USA.  I don't believe you mention where you are from but my advice is to stay the fuck away from Mt. Gox/Dwolla
Title: Re: How good is coinbase?
Post by: Trippy Hippie on June 30, 2013, 07:20 am
It's not and that is my worry. Thats why I say have them deposited on an exchange. Buy and sell your coin a few times over a few days and then tumble it if you are still worried. SR tumbles it too, I don't see how it can be traced after that. Maybe it can, but I doubt it if you trade it on an exchange and move it through a few wallets and a tumbler before going here. I think the only stupid move is to buy them and send them straight to your SR wallet. That's asking for trouble.

Hmm, that makes sense. I've just been using one BlockChain as an interlude between (previously) bit instant and SR, but maybe I should step it up. When you say exchange, do you mean something like Bitstamp? So say I buy $500 worth of BTC (just to keep it simple, say it's $100/btc, so 5 BTC) from either coinbase or blueskytraders... Then I could have them sent to Bitstamp where I could sell it in separate amounts to get 500 USD, then put an open option for buying and buy (in separate amounts) 5 BTC again, but they'll be completely different. Is that what you mean by exchange? Because that actually seems like a great idea! ...Though how much would I lose in transaction fees?

Also, if I were to use a bitcoin tumbler before SR, which would you recommend? And what are the fees like with them?
Title: Re: How good is coinbase?
Post by: AbuNazir on June 30, 2013, 07:26 am
I've never used Bitstamp, but you have the right idea. I have used Gox and BTC-e, those are both exchanges. Without getting too detailed, you are close. Sell them in multiple transactions, then maybe do a bunch over a few days to buy them back or buy all litecoin and then convert the LTC to BTC. That's got to be hell to trace. Then transfer it to coinfog to tumble and out to a wallet. Then to SR. Only trouble you might encounter is if they lose value while you are doing this. BTC has had a pretty obvious trend lately. It gets up to the 130's and then there is a selloff, usually at the end of the month. So buy low at the end of the month and sit on em a few weeks and they usually come back up. Then spend them .

You can also convert them to a BTC-e e-code and open another account and deposit them. Anyway, I don't want to give away too many tactics on this forum but you get the idea. Even if you have to buy in your name, they can be completely anonymous by the time they get here.

http://fogcore5n3ov3tui.onion/?page=index - Bitcoinfog is one I have used.
Title: Re: How good is coinbase?
Post by: Trippy Hippie on June 30, 2013, 07:32 am
Hey thanks a lot, AbuNazir! You've been very helpful, I'll look into the tactics you shared :)
Title: Re: How good is coinbase?
Post by: AbuNazir on June 30, 2013, 07:37 am
Actually I said part of that wrong. Buy your coins and deposit them on an exchange. Shuffle them up with some buying and selling in different amounts. If you want use more than one exchange acount and send them from one to the other. Move them out to your wallet or to coinfog. Then from there to here where they get tumbled again. If that can be traced I would be surprised, as long as they can't access your accounts of course. I doubt they can back trace that to you if they got a vendors coins.

No problem, hope it helped. And remember every time you buy and sell the exhange takes a small fee, and so does the tumbler. SO I would buy about 15 bucks more than I need to anonymize them. I know that's a hassle, but it's worth it to me.
Title: Re: How good is coinbase?
Post by: ThePhoenix on June 30, 2013, 08:27 pm
Blue Sky Traders when they are operational again.  Monday I believe.
http://ok2yri46aaptiu2d.onion/index.htm

Heard of them, but I don't know their benefits... What's their pitch?

i used blue sky once..w.as easy, just had to go to CVS to WU it...i don't like CVS. too small...too many camera