Silk Road forums
Discussion => Security => Topic started by: ACutAbove on May 18, 2013, 03:43 am
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Hey Guys, whats the best way to get Paid? Where do you guys transfer your funds too? I have a BlockChain Account and I need to cash some BTC out, do I make an account with another Company and transfer funds to them? I have always spent my BTC on SR so this is a new thing for me. Thanks for the help.
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do I make an account with another Company and transfer funds to them? I have always spent my BTC on SR so this is a new thing for me. Thanks for the help.
Yes, this is what you do. But if you are moving a large quantity of coin, don't do it all at once or with one service. Just my opinion. If you are a dealer, you better find ways of converting anonymously.
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I recommend you check out LocalBitcoins.
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sub'd
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I recommend you check out LocalBitcoins.
Thank you, can you maybe elaborate? Do I use tor or normal browser? Do they deposit to my bank account? Thank you much!
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A normal browser is fine, but I STRONGLY recommend using a logless VPN or secure proxy to connect.
As for depositing to a bank account, sure they can. But I suggest accepting cash instead. That way the trade is untraceable.
I recommend you check out LocalBitcoins.
Thank you, can you maybe elaborate? Do I use tor or normal browser? Do they deposit to my bank account? Thank you much!
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We can help
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Jumbo:
What can you do? I'm also looking for a way to cash out if you can help.
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I recommend you check out LocalBitcoins.
Thank you, can you maybe elaborate? Do I use tor or normal browser? Do they deposit to my bank account? Thank you much!
LocalBitcoins.com, It is traditionally used in a peer 2 peer format. Meaning, anyone is a bitcoin exchanger. Just sign up, and find another user that is looking to buy bitcoins at your price. Like craigslist, meet them in a public place to transact. Use the escrow service for safety.
Also, check out the money section on bitmit.net. You can get most currencies and metals mailed directly to your doorstep.
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LocalBitcoins.com, It is traditionally used in a peer 2 peer format. Meaning, anyone is a bitcoin exchanger. Just sign up, and find another user that is looking to buy bitcoins at your price. Like craigslist, meet them in a public place to transact. Use the escrow service for safety.
Also, check out the money section on bitmit.net. You can get most currencies and metals mailed directly to your doorstep.
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So you meet in public? What if no ones in my area? I was under the impression if you were under $10,000 a month that you can use the the larger BTC vendors? Selling them was easy with bitfloor, Now I am a little confused on how I actually get my cash on a sale.
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You arrange a trade on localbitcoins.com and meetup with the cash party at a location with internet access. You transfer the agreed upon amount of BTC to the localbitcoins.com holding address just before meeting. It tells you exactly where to send it when a trade is opened.
When meeting, inspect the cash in question. If it's over $1000 (don't do this on a first trade), you'll want to use a UV light ($20-30) to detect counterfeit notes, as well as bone up on your knowledge of detecting counterfeit notes in general. After verification, release the payment on localbitcoins.com and the trade is done.
Don't forget to leave feedback for the successful transaction and tell the BTC buyer to do the same.
If you want to be extra careful, make sure you only login to localbitcoins.com from a logless VPN that accepts Bitcoin. This includes whenever you're on a coffee shop's wi-fi.
Lastly, it's up to you whether you decide to use the SMS verification service or not. That's more for the BTC buyer than anything else. One of these days they'll come up with encrypted texts that are compatible with TextSecure and other apps. Until then, they're out in the open.
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If you are a vendor on here or have drugs at home I would NOT USE LBC!
On several occasions the person who met up with me was a police officer. Sometimes blatant (showed badge, questioned me)
And sometimes I have had suspicions based on their mannerisms, etc.
Lucky enough I have a clean house, and only smoke pot a couple times a year. I can tell you if I was a vendor, I would probably be in jail right now.
I REPEAT VENDORS....DO NOT SELL YOUR COINS ON LBC...unless you want to spend some time in prison.
I was extremely lucky since I mine my coins, and do not partake in any illegal activities. Not sure how vendors get rid of coins, but if there not in jail its probably not LBC.
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I[...]do not partake in any illegal activities
so...why SR, if you don't mind me asking
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WOW! First time I've ever heard that. :o
All I can say is that, from a legal perspective, there is absolutely nothing wrong with trading BTC for dollars or dollars for BTC. If you cross the $10,000 reporting threshold, then you can end up in some hot water. Otherwise, you're golden.
If some LE wiseass decides to meetup with you, then tell him this is a perfectly honest, transparent and LEGAL business transaction- and you don't appreciate him wasting your time. Be polite, but use your authority and don't put up with any shit.
If he suggests anything as to the origin or destination of the BTC or the cash in question, tell him nothing. Don't lie! DON'T SPEAK. Those are fucking police state tactics that aren't even used at the border unless you've been flagged.
LE has no recourse if there is insufficient incriminating evidence and one doesn't incriminate themselves. A lot of times people will lie to the police (they may be 100% innocent and simply nervous), or say something dumb to throw them off the scent. Very, very stupid which almost always works against them and leads to an easy conviction.
Learn to assert your rights. If you don't, then no amount of stealth shipping methods, electronic security, or other digital know-how will be able to protect you when you're out in the real world dealing with people.
If you are a vendor on here or have drugs at home I would NOT USE LBC!
On several occasions the person who met up with me was a police officer. Sometimes blatant (showed badge, questioned me)
And sometimes I have had suspicions based on their mannerisms, etc.
Lucky enough I have a clean house, and only smoke pot a couple times a year. I can tell you if I was a vendor, I would probably be in jail right now.
I REPEAT VENDORS....DO NOT SELL YOUR COINS ON LBC...unless you want to spend some time in prison.
I was extremely lucky since I mine my coins, and do not partake in any illegal activities. Not sure how vendors get rid of coins, but if there not in jail its probably not LBC.