Silk Road forums
Discussion => Silk Road discussion => Topic started by: goodvibes on November 23, 2012, 10:58 pm
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I'm sorry if this has been asked before, I've been trying to read so much without having to ask too many questions. Do any of you guys buy your bitcoins from Mt. Gox? Are they safe/reputable/fast? I'm in the USA and just looking for an easy place/person to get bitcoins from so I can make my first purchase here. If Mt. Gox is not a desirable bitcoin vendor, where would any of you recommend I buy from?
Thanks in advance and again, I apologize if this has been brought up before. :-\
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I use bitinstant > moneygram > mtgox
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Mt. Gox is completely safe and aboveboard. Biggest Bitcoin exchange on the internet. But you may want to transfer your coins to Silk Road through a couple of anonymous wallets first. Mt. Gox would without a doubt be happy to share the destination of your transfers to any Government agency, and you have to give your real identity to Mt. Gox. Make a few bitcoin wallet accounts with sites like Instawallet or Blockchain with fake names. Send Mt. Gox coins to one, then the other, then to Silk Road. Your coins can no longer be proven to have been yours at the time the entered your anonymous silk road account. This is what I do in any case, and it has worked great for me. I use BitInstant to add funds to Mt. Gox and can recommend this service as well.
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You can use Dwolla and transfer your USD to MTGOX that is the least expensive way to exchange USD to BTC
You can also use Sugar Mama or other BTC vendors on SR
c/o this URL to get started on SR
http://dkn255hz262ypmii.onion/wiki/index.php/Main_Page
good luck
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https://btc-e.com/ is often 3 to 5 percent cheaper than Gox...... and it is also reputable also they don't log you out every 5 minutes like Gox does. Also it has a live trading board where you can post the amount of coins you want to sell, and for the price you want to sell them for. Also you can post how many coins you want to buy, for example if you're wanting to buy Bulk coin, you can post a lower than market value price and other users will be viewing these boards. At Gox you cant see any live data like that, also Gox doesn't have a live chat room on the main page either.
BTC-E
At the moment, the fee for transactions is 0.2%.
Mt.Gox
Mt. Gox charges a trading fee of up to 0.6% from each party of successful trades made through the market.
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I use Mt Gox all the time it's easy and reliable...
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I usually do Dwolla to Mt Gox transfers and it's a pretty easy process...the only problem is it takes about 5 business days for the transfer to complete so I have to plan ahead of time.
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So from what I understand from https://www.bitinstant.com/howitworks/onlinebank ... I can transfer money directly from my bank account to BitInstant and then from there to Mt. Gox and then on to other wallets. Well for whatever reason at https://www.bitinstant.com, it's not showing "Online bank transfer" as an option. Anyone know why?
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I use the moneygram cash option. In total I pay 4.55% fees plus $3.95 per deposit (which is another .53% on my standard $750 deposit). I consider this to be SR sales tax, which is substantially less than the sales tax I pay for physical or online transactions in the state where I live.
I go to the CVS down the street, pay my cash, come home and my money is already on mtgox.com. Transfer through a couple of wallets and its live on SR in a couple hours total turnaround time. Place my orders and account depleted. Not the cheapest, but a small price to pay for the convenience factor.
I see this like paying the available ATM's fee instead of wasting time looking for my bank's ATM. I don't understand why people go through long waits for such a small percentage of savings.
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All I use is mtgox. Why go any other way if you have the time. You need to set up acounts which is a pain in the dick, but its worth it if you plan on spending money on here for the next few years. Bank account sned money to Dwolla which is then sent to MtGox. Start process on monday, ends on friday or sooner.