Silk Road forums
Discussion => Security => Topic started by: Petimus on May 06, 2013, 03:51 pm
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With Bitfloor out, and Bitinstant -> Mt. Gox process now requiring you to be verified, what other "simple" alternatives are there for getting coins? I've heard of Bluesky Traders, but having to put an order in for the next week isn't realistic to me with the market so volatile. Does a bank deposit option like Bitfloor even exist now? Any help would be greatly appreciated.
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With Bitfloor out, and Bitinstant -> Mt. Gox process now requiring you to be verified, what other "simple" alternatives are there for getting coins? I've heard of Bluesky Traders, but having to put an order in for the next week isn't realistic to me with the market so volatile. Does a bank deposit option like Bitfloor even exist now? Any help would be greatly appreciated.
Depositing cash for bit-coins is extremely easy.
Just go to bitinstant.com & select-walmart-bitcoin address then go to easywallet.org-copy/paste the bit-coin address back to bitinstant page and finalize the process. Walk to your nearest Wallmart and fill out the blue money gram slip and within 30min you should see the coins in your wallet. How do I know this? I just did it all under 1 hour. It is that easy. No ID is required for bitinstant, now sure who told you that. It is 100% secure and confidential.
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How does Bitinstant decide what your exchange rate is when sending coins to your address. Is it last weighted average during time of transaction from Mt. Gox?
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How does Bitinstant decide what your exchange rate is when sending coins to your address. Is it last weighted average during time of transaction from Mt. Gox?
that is correct. It all happens during time of transaction. Weighted.
Rule of thumb - spend them coins within a few hours after you recieve them in your SR account to avoid any losses. Of course you may get lucky if the value goes up but you r in the market for something just spend it the very same day.
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Bitinstant -> Mt. Gox process now requiring you to be verified
My heart skipped a beat when I read this. I just double-checked; this is definitely not true. What country are you in?
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Whether it's true or not right now, you can count on it becoming true in the future.
How do you protect yourself from this garbage?
Be your own bank. Install the Bitcoin QT client, encrypt your wallet with a strong passphrase (several words in succession), then backup your wallet to at least a couple of geographically separate places.
When you need more BTC, hookup with a local dealer (through localbitcoins.com or another trust-based site) who will exchange cash for BTC. Very, very simple to do and impossible for the government to control. Unless cash is outlawed, this will always be a very viable option.