Silk Road forums
Discussion => Security => Topic started by: Banjo on May 08, 2012, 06:45 pm
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Yesterday I decided to try the new bitcoin to email option, and thought I'd post my findings/experience here.
I've previously used their service to send funds to CryptoXChange. While that works pretty well, I don't really trust CryptoXChange because you have to register (even if you just give them fake details, that still bothers me) and more importantly, you can't access your account via TOR. So I was curious to see that bitinstant has a new option: bitcoins to an email address. Basically the way this works is you deposit cash at a bank, and then partnering with another company called coinapult, they will give you a link where you can enter the address you want your coins to go to. I decided to do a test run with $50 USD.
First, I started the transaction on bitinstant. I provided them with my tormail address. Bitinstant charged a fee of 3.99% + $1.0 USD, so that left me with a total of $47. Once you finish your transaction, you are directed to a company called Trust Cash. They're the ones that facilitate the cash deposit to bitinstant. They charged a fee of $1.16, but they just tack that on to the deposit. So the total amount I had to deposit was $51.16.
Within twenty minutes of making the deposit at Bank of America, I got an email from Coinapult with a link where I could get my bitcoins. I went to this link, and it had a form asking for the bitcoin address I wanted the funds to go to, and asking for my PIN (this was created when I started the transaction at bitinstant).
I provided them with a new bitcoin address at bitcoin fog. It took two hours for the coins to show up in my bitcoin fog account. Next, I scheduled a withdraw that would last twelve hours to my SR address. (Also freshly generated).
I checked my account this morning, and found $44.85 had been deposited.
Overall, I think this will be my new purchasing method for the following reasons:
1.) It allows me to use TOR for all websites I need to visit
2.) I don't have to register for an account anywhere
3.) Nothing in any of the steps (except the final purchase of course) could be tied to my real identity.
The bitcoin fog step takes a minimum of six hours, but as long as you plan ahead, I don't think that would be a problem, especially considering the extra layer of anonymity it provides you. The part that involved bitinstant and coinapult took less than twenty minutes total, and worked perfectly.
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great report! i'm just curious on how much the BTC was traded to you for.
like what price does BitInstant use.... (mtgox ave?).
I just don't want to get stuck depositing say $50, and only get $45 worth of BTC when I get it transferred to SR
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They use the standard exchange rate (which fluctuates based on the market). The reason I ended up with about $5 less than I originally deposited was because each site takes a 1-3% fee for the transaction. There's no way around this, as you'd have to pay a fee no matter how you get your bitcoins. I just adjust for this by depositing about $15 more than I actually want to end up in my SR account.
But to answer you more specifically, I originally got 9.05 BTC (which is spot on for $47)
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alright sweet deal. i knew that bitcoin fog used 1-3% but I'm glad you confirmed that you got the correct amount before laundering the coins. thanks again for the update.
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I use it a few times works great.........but for sellers maybe they should not be too keen to be seen depositing money for bitcoins or even wires as a TOR connection and Bank deposit for Bitcoins is an immediate red flag I think to be put on a list and possible mail check......all the hassles to deal with which is why I don't care just buy by the gram or something..........
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Done several thousand in the last week with this method. Cept I just do some mixing with online wallets rather than bitfog.
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crooked-
can you verify that bitinstant gave you the correct exchange rate for your money?
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Just finished up 1st transaction with Bitinstant earlier this week. Went to back to make deposit, grabbed lunch and came home to coins then ran through fog. Seems to be spot on for amount I bought.
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so i did this except i just transferred from email to sr.
i love using tor for the entire process, i just create a new session for each transfer.
i deposited 101.16 to BOA and it was in my email in ten minutes, i emailed it to SR and it was there before I got home,
i paid 101.16 for 95.18
so a total of about 6.15 percent
although some banks dont charge the 1.16 fee
PROPS OP, THIS IS THE MOST ANONOMOUS WAY TO GO
fuck mtgox, props coinapolt, wonderful system.
I am just kinda worried about tormail.org being safe, but way better than that sketchy ass exchange mtgox for sho
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Is the consensus that you need bitcoinfog? Isn't the fact that you bought the coins anon via cash enough?
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I never use bitcoinfog personally. I don't want to be the guy who tells you it isn't necessary and then you get fucked by the long dick of the law, but it doesn't seem essential to me.
For you guys who use Bank of America, is it true that they ask for your name and address and shit like that when you deposit money? I shy away from BoA because I heard that a while ago. At chase they don't ask for any info at all.
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I think it's an added layer, but I don't think it's a necessary one. I dunno though, some people probably do. I think bitinstant to email via cash deposit at a walmart while grocery shopping is anonymous enough.
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Wherever you get your coin->Bitcoinfog->several different wallets->Silk Road account.
I think that's pretty damned anonymous.
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no BOA doesn't ask for id or nothing
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i thought the road had it's own washing and tumbling methods that made it so you didnt have to use bitcoin fog? please correct me and point me in the right direction with the bitcoinfog .onion address if i happen to be wrong..
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I never use bitcoinfog personally. I don't want to be the guy who tells you it isn't necessary and then you get fucked by the long dick of the law, but it doesn't seem essential to me.
For you guys who use Bank of America, is it true that they ask for your name and address and shit like that when you deposit money? I shy away from BoA because I heard that a while ago. At chase they don't ask for any info at all.
I've never been asked for any sort of personal info at all at BofA. All they ask for is the account details of Trust Cash. Once the teller asked me what Trust Cash was, (more in just a sort of chit chat sort of way) and I just told her it's an easy way to pay for online advertising. Their official name is Trust Cash Ads, inc.
As far as bitcoin fog goes, I don't know why people are so resistant to use it. Sure, it adds some extra time. But are you really so impatient that waiting a few more hours is worth risking your freedom? I'd absolutely hate to be sitting in a jail cell saying, "I wouldn't be in here if I'd just taken that extra step". Why not add all the security you can get? And for those of you who like to transfer from wallet to wallet, that takes almost as long, but is a lot easier to track.
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i thought the road had it's own washing and tumbling methods that made it so you didnt have to use bitcoin fog? please correct me and point me in the right direction with the bitcoinfog .onion address if i happen to be wrong..
Yea I have read that many times and believe it's true. If you have funds sent directly to your SR wallet it still wont be instant. The bitcoin network has to confirm it then they tumble it or something like that. I don't know the exact order of method
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As far as bitcoin fog goes, I don't know why people are so resistant to use it. Sure, it adds some extra time. But are you really so impatient that waiting a few more hours is worth risking your freedom? I'd absolutely hate to be sitting in a jail cell saying, "I wouldn't be in here if I'd just taken that extra step". Why not add all the security you can get? And for those of you who like to transfer from wallet to wallet, that takes almost as long, but is a lot easier to track.
A few hours? On their website it says its a few weeks.. but i do see your point. Though i'm using cash and plan on not using any sort of real information, so i can't really see how anyone would be able to trace it back to my irl identity. i'm all for extra layers but bitcoinfog for this method seems like over kill.
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As far as bitcoin fog goes, I don't know why people are so resistant to use it. Sure, it adds some extra time. But are you really so impatient that waiting a few more hours is worth risking your freedom? I'd absolutely hate to be sitting in a jail cell saying, "I wouldn't be in here if I'd just taken that extra step". Why not add all the security you can get? And for those of you who like to transfer from wallet to wallet, that takes almost as long, but is a lot easier to track.
A few hours? On their website it says its a few weeks.. but i do see your point. Though i'm using cash and plan on not using any sort of real information, so i can't really see how anyone would be able to trace it back to my irl identity. i'm all for extra layers but bitcoinfog for this method seems like over kill.
The longer you keep your money in the pool, the more anonymous it gets. However, the minimum *required* time is only six hours. Even if you only use the minimum required time, it still adds a nice layer of security, because it will transfer your total in random chunks at random intervals, which makes it harder to track.
It may be paranoid, but the reason I'm so concerned with making an already anonymous transaction difficult to track is, because I'm sure my face shows up on numerous security cameras at the bank. I'd like to make it as difficult as feasibly possible for them to track the transaction back to Trust Cash, and subsequently the bank I made the deposit at. I live in a larger city, but I think in some localities, that would be enough to figure out who they were looking for.
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The 2% BTCFog fee is not for me honestly... I know it's probably a lot safer but I just bribe diff people with drugs to do the deposits for me. And it's pretty easy to space out deposits over time + visit different areas. I never use the same amount or email twice either.
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What's the most anon email service for this? Is Tor Mail ok?