F bitcoin

wallyd

wallyd

VET
Joined
Aug 12, 2015
Messages
1,144
After being aloud to buy Bitcoin with no issues I tried to send Bitcoin to someone for a payment. I couldn’t get them to verify my identity. I took pictures of myself & my ID for over an hour. Different angles, different lighting, different rooms, everything you can imagine. NOTHING.

I sold my Bitcoin back after waiting overnight to see if something would happen if I gave it some time. They took $75 overnight for nothing but aggravation when I sold it back.

No one warned me about this but after a quick Google search this is common. I can say I tried but I won’t try again. Hopefully this will be a warning to others. Be prepared because it isn’t as cut and dry as others make it sound.
 
Some of these ID verification systems are buggy as hell as I've had issues with them as well. For one exchange it took 2 attempts to get thru verification but was successful.

My ID was not even recognized at all on even ID.me and their support tells me that the state needs to change the layout of the license. How helpful!
 
I’m not putting myself out there like that & jumping through all those hoops. I don’t like the idea of taking pictures of my ID & sending it anywhere tbh. Seems super risky to me.
 
I’ve never understood the use of btc to purchase anything anonymously bc at some point the blockchain will go back to the issuing exchange and by proxy the bank account the funds were sent from . Even if you mine it, if you’ve ever exchanged it for fiat, your info will be compromised. And crypto like monero, while better, can still be a pain in the ass. Cash is king imo and I have moved on to entities that accept it, after vetting of course
 
P1lsbury said:
I’ve never understood the use of btc to purchase anything anonymously bc at some point the blockchain will go back to the issuing exchange and by proxy the bank account the funds were sent from . Even if you mine it, if you’ve ever exchanged it for fiat, your info will be compromised. And crypto like monero, while better, can still be a pain in the ass. Cash is king imo and I have moved on to entities that accept it, after vetting of course
Click to expand...

It seemed like it wasn’t as secure as others made it out to be but I’m not a programming guru.
 
Never got involved with shit coin, and never will. The sponsors that only take that way are missing out on coin
 
irish_2003 said:
Buy bitcoin then convert to xmr then purchase items
Click to expand...
I would still be cautious… even a moron (most feds) can still trace it back directly to you. They will have you dead to rights and will throw in wire fraud and possibly money laundering, which are more criminal in nature (in most cases) than actually obtaining the contraband. I would rather wire money through western union or another vendor than use crypto. But I’ve been on the bad end of this before and am very paranoid and careful of how I make purchases of any kind.
 
I’ll never have anything to do with it ever again. My spidey senses told me not to even try it but I didn’t listen. I’m smart enough to learn from my mistakes.
 
I've been trying to pay a source with bitcoin as that's what he asks. So I opened trust wallet app(as I saw in flash lab thread and that's what he recommends). So I opened it, got my identity verified but they ask for SS#, is this normal and safe? Now I try to buy bitcoin using my credit card, and they'll only let me purchase 500 max. So I try to buy again now when I type 500, they say 499 so I'm over the limit. After multiple attempts now they declined my card lol.
No money lost but it's frustrating.
Now the source says I should buy trezor, Ledger, a cold storage wallet that's invisible.
All these are confusing and I'm fkng stressed lol...
 
It’s confusing as hell! I couldn’t even get verified. It’s not worth it to me, I’ll go elsewhere. I took selfies for over an hour in different rooms, different angles, different lighting, everything & still couldn’t get verified. When I sold the bs back the very next day I lost $75. No F’ing thank you.
 
I agree its a big hassle and covert and all that sh** , keep it simple , that is doing to much for me lol
 
wallyd said:
I’m not putting myself out there like that & jumping through all those hoops. I don’t like the idea of taking pictures of my ID & sending it anywhere tbh. Seems super risky to me.
Click to expand...
That is really crazy bro , I had watched a you tube video it broke it down a bit for me from gearpro but other than that its a hard pass lol
 
You are going to have these issues using an exchange to buy btc or using the exchange wallets. Use peer to peer exchanges and you will avoid all these issues
 
The reality is tho it is really hard for these guys to accept payment any other way and fly under the radar. BTC seems like a hassle at first but once you get it down it is really easy. You can buy it with cash app, Venmo, PayPal now or even coin base or robin hood and just move it to a custodial wallet after you buy it. Exodus, Mycelium, Coinomi are a few that are custodial only.
 
Kubes said:
The reality is tho it is really hard for these guys to accept payment any other way and fly under the radar. BTC seems like a hassle at first but once you get it down it is really easy. You can buy it with cash app, Venmo, PayPal now or even coin base or robin hood and just move it to a custodial wallet after you buy it. Exodus, Mycelium, Coinomi are a few that are custodial only.
Click to expand...
Agreed, with outfits like MG and WU making it very very difficult to send money to sponsors and their receivers not to mention blacklisting them bitcoin is pretty much the only game in town in order for sponsors to receive payment. One other option is cash in mail and that even has its risks.
 
  • Like
Reactions: DFL
MindlessWork said:
Agreed, with outfits like MG and WU making it very very difficult to send money to sponsors and their receivers not to mention blacklisting them bitcoin is pretty much the only game in town in order for sponsors to receive payment. One other option is cash in mail and that even has its risks.
Click to expand...
Yes and honestly once you get it down buying or selling bitcoin is simple. weather you use peer to peer or simply just purchase bitcoin with cash app and then move it to a non custodial wallet
 
MindlessWork said:
Agreed, with outfits like MG and WU making it very very difficult to send money to sponsors and their receivers not to mention blacklisting them bitcoin is pretty much the only game in town in order for sponsors to receive payment. One other option is cash in mail and that even has its risks.
Click to expand...
ive lost money with WU.. never tried bitcoin not savvy enough. CIM has been pretty good to me but i stuck with one one provider for a very long time. sucks that there is always a level of unneeded risk.
 
Guage said:
ive lost money with WU.. never tried bitcoin not savvy enough. CIM has been pretty good to me but i stuck with one one provider for a very long time. sucks that there is always a level of unneeded risk.
Click to expand...
Has WU seized your money?
 
Kubes said:
Yes and honestly once you get it down buying or selling bitcoin is simple. weather you use peer to peer or simply just purchase bitcoin with cash app and then move it to a non custodial wallet
Click to expand...
Totally agree! I don't understand how some have such a hard time using something like cashapp. It's relatively simple to use, I think anyway. Best way imo is to have your own hardware wallet like Ledger or Trezor and load and send from there.

Your info may be traceable on cashapp but once you send it to your wallet that's it. There is no way of tracing who owns that wallet. Or I should say it would be extremely difficult to trace the ownership of the wallet.

But I also agree that source's should offer an option for payment to their customers. Why make them jump through hoops to order from you.
 
Silntrunin said:
Totally agree! I don't understand how some have such a hard time using something like cashapp. It's relatively simple to use, I think anyway. Best way imo is to have your own hardware wallet like Ledger or Trezor and load and send from there.

Your info may be traceable on cashapp but once you send it to your wallet that's it. There is no way of tracing who owns that wallet. Or I should say it would be extremely difficult to trace the ownership of the wallet.

But I also agree that source's should offer an option for payment to their customers. Why make them jump through hoops to order from you.
Click to expand...
my concern here is, when I purchase BTC through cash app or paypal, you still have to use credit card to purchase and that leaves paper trace. I get it once you send to hard wallet, it can't be traced, but it still shows record of you buying bitcoin through cash app. Now if you're BTC to pay the source, it can show a pattern of buying btc then they disappear, buy btc then disappear... If someone wants to audit you, it can show a pattern of btc purchase for unknown purchases.
So how do we stay 100% anonymous?
 
myosaurus said:
my concern here is, when I purchase BTC through cash app or paypal, you still have to use credit card to purchase and that leaves paper trace. I get it once you send to hard wallet, it can't be traced, but it still shows record of you buying bitcoin through cash app. Now if you're BTC to pay the source, it can show a pattern of buying btc then they disappear, buy btc then disappear... If someone wants to audit you, it can show a pattern of btc purchase for unknown purchases.
So how do we stay 100% anonymous?
Click to expand...
The biggest shortcoming is the blockchain ledger which is public and you can search it for wallet addresses and such.
 
myosaurus said:
my concern here is, when I purchase BTC through cash app or paypal, you still have to use credit card to purchase and that leaves paper trace. I get it once you send to hard wallet, it can't be traced, but it still shows record of you buying bitcoin through cash app. Now if you're BTC to pay the source, it can show a pattern of buying btc then they disappear, buy btc then disappear... If someone wants to audit you, it can show a pattern of btc purchase for unknown purchases.
So how do we stay 100% anonymous?
Click to expand...
Then buy it from a peer to peer site and have them send it direct to your non custodial wallet. Also unless you are buying massive amounts it would be pretty easy to say you bought as investment and lost it
 
You must log in or register to reply here.

New Posts

Trending

Back
Top