Silk Road forums

Discussion => Newbie discussion => Topic started by: meyndrowned on July 19, 2013, 06:53 pm

Title: Buying BTC with cash
Post by: meyndrowned on July 19, 2013, 06:53 pm
Im buying some bitcoins with cash, should i have them send them directly to my SR wallet, or have them send them to a different wallet and then Ill send them to my SR wallet from there?
Title: Re: Buying BTC with cash
Post by: SIECRIT on July 19, 2013, 07:50 pm
Precautions could be taken when you know the Bitcoins will be for illegal transactions.

Your payment method for buying Bitcoins is cash, which is not anonymous to start off with. If anything were to happen to you (better be safe than sorry), you could cover yourself up by having a deposit address that cannot directly be linked to you. The anonymity of Bitcoins is not automatically made by the current implementation due to every transaction being logged and it being available for anyone.

Personally, I would (1) send my coins to an eWallet service I trust (Blockchain in my case), (2) throw it into a mixing service and (3) finally send it to my main wallet. This is a basic way of anonymizing Bitcoins.
Title: Re: Buying BTC with cash
Post by: Enslyn on July 19, 2013, 08:07 pm
The above is good advice, also I generate a new address for each transaction, both on SR and in my wallet.
Title: Re: Buying BTC with cash
Post by: rjbridges on July 19, 2013, 09:11 pm
I always just use localbitcoins and deposit cash into their account. Then I send the btc through a few different wallets on a few different IPs.
Title: Re: Buying BTC with cash
Post by: jonk430 on July 20, 2013, 03:08 am
new address each transaction is good
Title: Re: Buying BTC with cash
Post by: agenorexchange on July 21, 2013, 07:01 am
straight to SR, who cares
Title: Re: Buying BTC with cash
Post by: REDzyy on July 21, 2013, 07:21 am
depends what you using your btc for. if juss sole purpose for SR then, yes send them straight to SR.
Title: Re: Buying BTC with cash
Post by: Kuchar on July 21, 2013, 07:53 am
If one sends coins straight to SR and generates a new wallet address afterwards, then that seems pretty safe to me. Or do you think it would be somehow possible to track the transactions?

I guess, if law enforcement would gain access to your SR account, because you for example keep your login details in unencrypted file, then they could find out your wallet address. But in this case there would be a lot of other incriminating evidence also..

Then again, I only do such a small transactions that I doubt that it would make much sense for the police to try track me down.
Title: Re: Buying BTC with cash
Post by: TheCostelloGroup on July 22, 2013, 01:10 pm
Im buying some bitcoins with cash, should i have them send them directly to my SR wallet, or have them send them to a different wallet and then Ill send them to my SR wallet from there?

It's probably not neccesary, especially when buying with cash. That being said though, you can can never be to careful. So, do it anyway :)
Title: Re: Buying BTC with cash
Post by: DeemzBeemz on July 22, 2013, 01:37 pm
I like to send them through a fog but it really shouldn't matter. How would they link anything to your a specific address?
Title: Re: Buying BTC with cash
Post by: phantomoto on July 22, 2013, 02:11 pm
What mixing service do you use? Thanks
Title: Re: Buying BTC with cash
Post by: AirshipAdmiral on July 22, 2013, 02:41 pm
Using bitcoin over a VPN or Tor (or both) is generally a good idea, because bitcoin is NOT anonymous in any way.

Bitcoin network architecture sucks, honestly.

There are experimental alternative blockchain-based cryptocurrencies (aka, altcoins, such as litecoin) that have a completely different network design.

Some altcoins are designed to be used exclusively over Tor, I2P, and other pseudonymous or totally anonymous P2P overlay networks. These altcoins are not as widely accepted or popular as bitcoin, however.

There are also non-blockchain cryptocurrencies that can be used over Tor, such as OpenTransactions or Ripple.

Ripple and OT servers can be operated over Tor as hidden services, federated with other Tor hidden services, and gatewayed to non-Tor (clearnet) servers the same way TorMail does.

For those not familiar with TorMail, Tormail uses disposable proxies that accept incoming connections from clearnet email servers and forward them over Tor to internal Tor hidden services located on a secret server farm somewhere.

I have detailed design specifications and schematics on how to design a high-performance Tor hidden service, though Tor's hidden service design is a major single point of failure and bottleneck.

Tor's hidden service design is incompatible with most load-balancing and high availability techniques used with clearnet websites. This is partly due to failures in HTTP itself and the web in general, but many of the limitations are imposed by Tor itself.
Title: Re: Buying BTC with cash
Post by: SIECRIT on July 24, 2013, 09:03 am
What mixing service do you use? Thanks

Blockchain.info has a built-in mixing service which I personally use.

https://blockchain.info/wallet/send-shared