Bitcoin Forum

For example, if some guy approach me and he want to sell bitcoin at low price, but big amount,

is this acceptable? or not? Why?

Can we know specific bitcoin is stolen goods?For example, if some guy approach me and he want to sell bitcoin at low price, but big amount, is this acceptable?

Most of the time you don't know.
Because even if you can track the source of tokens from the blockchain, you still don't know what's going on.

You can't track btc. It's anonymous and is developed for being anonymous. Moreover people use mixing services so that their coins won't get tracked. We don't need a KYC for creating a wallet, but when we need to exchange them we need a KYC. The public ledger so called blockchain is pretty difficult for criminals to hide with their money. The guy who needs to sell may be in a tough situation for immediate money or he might be afraid to sell such a huge money so that he might be caught with law enforcement.

Unless you are sure with the guy, buy them.

It could be yours if you buy by meeting each seller, and if you buy the way you send your money first, you better do not do it, because it could be fraud, that's my opinion.

that acceptable i guess buy and sell is have some agreement in it, when someone sell it that mean that man wanting to getting profit in it, and you as a buyer cause you seeing a need in it and you need that too

There is such a concept known as "tainted coins". You can read the inputs on this link (https://bitcoin.stackexchange.com/questions/7966/what-are-tainted-coins-exactly) for more information, but basically, since Bitcoins can be traced, it's possible to know which ones have been stolen. It's not very reliable though, unless you've actually followed the traces of a hack from its origin. You probably could get in trouble for buying stolen coins, but only because authorities might think you're the thief or are related to the heist.

As for whether or not you should buy in that situation, remember: if something is too good to be true, it probably is.

This is poor logic. I imagine everyone has been involved in handling stolen cash/counterfeited cash. Doesn't mean they are guilty of heists/making them. Bitcoin is the same, and identifying whether someone has been involved in a hack/heist or what ever would actually be difficult after a few transactions. Especially with the amount of mixing services/exchanges which just make it easier for the transactions to look legitimate.

iT is acceptable if you both agree on your each terms, actually there are a lot of people who do buying and selling bitcoin by meetups but of course be very cautious on every transactions you do specially if it is what you said BIG AMOUNT, your life will be on danger too, if the man/ woman you want to trasact is a scammer or kidnapper, all your work will be gone. Actually if you would buy cheap bitcoin and the transaction of the both of you succeed you will gain a lot of profit.

I'd be more concerned that it was a scam, rather than stolen coins or something. I mean why would someone sell way under market value?
On what platform have you received such a deal?

Will,its up to you if you accept that offer,but for me i thinks there something fishy in that kind of aggreement that there someone approaching you to sell his bitcoin at low price,but in big amount,because in reality theres no sensible person would offer this kind of treaty,especially now that bitcoin will pump again in the market,so in order to prevent that kind of dishonesty strategy we must always vigilant in every transaction we made.

It is a negotiation on an exchange that can be uncertain. I do not have the habit of believing in such direct conversations. There will be no stolen bitcoin or they will use them as a way to scam and occupy large amounts of money from you. Be careful and learn about them.

USD EUR conversion rate is 0.83 right now according to google. if someone approached you on the streets and said he is going to give you a good deal on his EUR with a nice discount will you do the trade with him on the street? (assuming you have a way of telling the EUR is not fake).

I agree, which is why I said it's generally not reliable. I'm just saying the concept exists. I've never heard of anyone running into trouble because of it, but, if you somehow end up with it, and chain analysis services trace it back to you (considering exchanges and mixers could be forced to give up info), you could get questioned or something. For example, let's say there was a hack, and someone sold you some coins peer-to-peer. You sent those to some exchange or an address that is linked to your identity, but it turns out those coins were part of the hack. From there, you would potentially be a person of interest and could even be considered a suspect -- not automatically guilty. It must also be noted that I was merely citing a remote possibility.

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It depends on the situation, if authorities are keep on tracing every transactions of that stolen Bitcoins and you bought it, then you are already in trouble because it is now possible to trace Bitcoin especially if you use an exchange to convert it to cash. This is also why it is better to just buy and sell cryptocurrencies on exchanges. But if that stolen Bitcoin is not being traced then it is acceptable and you will be fine. The problem is you'll never know if you bought a stolen coin to a stranger or people you only meet on the internet until the police arrested you.

This is a serious red flag. Why should this guy want to dump his coins, at prices much lower than the global exchange rates? Ask him why he is doing it. I his answer seems satisfactory to you, then you can proceed with the purchase. You should be cautious. But at the same time, you should not ignore any profitable deals. 

I think it's hard, you can track the transaction to see if it comes from a hacker's address. Not only stolen bitcoin sold at low price.

Tainted Bitcoins are not being listed for a lower price, why would they do that? I am sure that 98% of the Bitcoin users don't know about tainted coins nor know how to check whether is tainted or not. Also it's not a legitimate reason for exchanges to connect you to crimes. If you really care about it, then use one of these mixer services that make the history of the coins completely useless.

Like you are walking in the streets? If you want to know on where those bitcoins came, you can trace the address on where it came from. There were people (legit) who are selling volumes of bitcoin to a casino here in my country and they are really a lot of it somewhere around 2,000 but no one wants to take the deal. It's hard to know if those btc were stolen or hacked if it isn't then the guy just wanted to sell it for quick profit and dump it totally.
Are you in this situation OP?

It is impossible to determine whether BTC is stolen in the block chain!

Because BTC is hidden, can't judge it belongs to someone, can only find it from a wallet!

Someone wants to sell you BTC at a low price, you can choose to accept, because this can make profit!

The ability to know or differentiate between say 'A' bitcoins and 'B' set of bitcoins is at the moment not possible. What may be known is the originating source of the bitcoins and the wallet from whence it came. To be able to prove fraud will require special tools and skills knowing where to look.

Does it even matter if the bitcoin you received is from a good person or has gone from the hands of a criminal? You don't even know if the paper bills you receive are 'clean' or not, and if the bills you now hold was once owned by a criminal, so what? It isn't like you will also be held liable for the person's crimes.

I mean I would purchase them and re-sell them to the market but you should ask yourself why they aren't doing the same? Maybe they want to avoid the KYC or maybe the Bitcoins are tainted. The problem only arises for ourselves if we ourselves don't want to undergo more KYC and if there is a black-list that denies the taint of Bitcoins. KYC we shouldn't worry about and the black-list really should not exist (although people are vying for it now). All said and done unless you are a government agency with vast resources you won't know if the Bitcoin is tainted or not and if I saw a solid $ opportunity I would take it in a heart beat.

Well this may become possible along the line sometimes in the future, but a number of other structure outside bitcoin itself may become necessary so as not to dilute the main purpose of the technology

All can be, but at a low price, I would have suspected that there is something wrong and would not take it.
It is also a strange phenomenon if someone approaches you and offers to buy bitcoin

This is usually a trap. There must be a reason to know that a large amount of bitcoin is sold at a low price, and a large number of bitcoins are traded on the face, and some even need a witness.

This is just as simple as the law of offer and demand.
if you need something the most, you would buy it whatever it cost. or if you need money the most, you would sell it whatever it cost.
nothing special in this case.

first, it has a high possibility that guy want to scam you. if he say you must pay him first, you better leave him.
second, if he send you bitcoin first, why not ? you can get bitcoins with a cheap price, it means you will get more.

I think this is an exchange and it can be uncertain at any time. There is no faith in conversation practice. Because there is no Bitcoin to steal there. They will take away many coins from you by fraud. So be careful and know about them all the time.

The question is why is he selling at a lower price for large amounts of bitcoin. That could be a possible scam.
You might to let him do the trade first. But I guess he wont do it cause it cannot be transferred back.
Meet up will be better or get a collateral instead of just doing it with good words of him. Do not be tricked by those. They are all over the internet and will do it anytime they see a victim.

If someone approaches you, and tries to sell you bitcoin below market rate, then you do need to be careful. Not because it may come from a source that is illegitimate, but because of the fact that he is most likely trying to scam you.

Anyways, to answer your question, bitcoin is fungible, just like cash.

You have no knowledge of what the bitcoin is used for before it is passed onto you, nor do you have the responsibility of knowing what the coins are used for. Each coin is the same as the other, regardless of where it came from. Although there are probably complex blockchain analysis techniques to track these coins earned from illegitimate sources, as long as you don't participate in them, you should be fine.

Just like cash, if the bill that you receive was used by criminals at one stage (which is pretty much every bill), it doesn't affect its value.

if he seriously wants to sell bitcoin for a cheap price, so, I will not be kidding. I will accept and buy it.

it's like your friend will sell a Lamborgini with a very cheap price. are you sure you will refuse?

if it is real is not a fraud I think I accept it, because it can benefit very big results, and if that kind of fraud do not be taken.

I feel hesitant about the offer, because only a fool that sells bitcoin for a cheap price, and maybe he will be cheating.

unless you transact with transparency or meet with him and make direct transactions, then it's better.

It seems like you should be wary of that person, because if anyone offers a bargain it could be that person intends to deceive you. But if you already know the person, and it's been around a long time then it would not hurt to buy it, maybe he was in need of money or was bored to have bitcoin.

But most of all you still have to be vigilant and careful in all transactions later.

if it becomes me I definitely accept it and it depends on your beliefs and beliefs to bitcoin the answer back to you, buy cheaply and sell with a high selling price one strategy in investing with bitcoin

Even if you can track the source of tokens from the blockchain, you still don't know what's going on. On the other hand you can't track bitcoin, bitcoin is anonymous. And when someone sell it that means he want to get profit in it. If you need you can buy it, but have an agreement first so that you will not be a loser.

What kind of topic is this?damn question is too far from the title.
I dont know why people like this have the guts to create a thread lol

If that guy approached you selling bitcoin in lower price and you believe it,then both of you are FOOL,are you noob?why would that person do sell in lower price when he can sell it in higher?sometimes use your mind before spreading this

Interesting question

Would you really even want to know if the BTC you are receiving is stolen goods or not? Do you even know if the Fiat currency that you lay your hands on has not been stolen or used for not so angelic purposes? If someone is selling you BTC for a price that is far below market value then you should probably be suspicious but that rule should count for Fiat currency as well.
Unless you have some sort of moral issue with it then might as well just continue to trade with it or hold it.

Every bitcoin that has been used in any transaction would carry a 'taint' with them, so no matter where theae bitcoins land, they'd always carry this 'taint' that somehow makes the coin movement traceable. In order to obfuscate the trail, some people use mixers most of the time in order to mix their coins and receive fresh ones. Anyway, going back, no one will ever know or bother to know where the money comes from. Besides, if the money came from some nefarious activity, the owner couldn't claim it as it's not the present owner's fault if the original owner of the money lost it during a theft. I'd accept tainted payments any day since it is still regarded as money. They can't do shit about it once it lands in your pocket legally.

it is difficlult to judge if the btc is stolen from others.
trace btc is very difficult and it transfer anonymous.

It is quite impossible to answer because it is totally depend on the person and hos puopose.

You mean like they are illegally taken from someone else then he is trying to sell it back?
Well that is no problem. You can buy it if you want. Just be sure it is not a fake one.

You could do some mixer to also add some security and for the past owner to not track it anymore. You could also try to put it in an exchange then he may kiss goodbye to his bitcoin.
I dont think someone will do that if he knows how to steal bitcoin. He also knew how he can take care of that certain circumstances.

 ;) ;) There is a big problem though. You can sell at a higher price by buying at a lower price.  ;) ;)

I don't think there is way to know which bitcoin is stolen. For example: if James has 10 bitcoins in his wallet and he stole 2 more, now he will have 12 bitcoin in his wallet. If you buy 1 bitcoin from James, how would you know that the 1 bitcoin sent to you by James is from the stole bitcoins?

for safe steps you should avoid it, because when it is tracked as a theft then you will also be carried on the case.
an expert in technology will certainly be able to trace the origin of the asset.

I think this is a trade and it can be indeterminate whenever. There is no confidence in discussion hone. Since there is no Bitcoin to take there. They will take away numerous coins from you by misrepresentation. So be watchful and think about them constantly.