Please help I don't want to get scammed

[jdogman]

So this guy wants to buy 500,000 xrp (ripple) from me.  He has agreed to pay with bitcoin before receiving his xrp.  Is there anything I need to look out for?  I know its probably a scam but I can't help but think that if he's sending me bitcoin, then he can't do a charge back or anything.

What am I missing? Thanks

[backtrackit]

make sure he pays first or use escrow.

[wormbog]

If you get payment in bitcoin up front I don't see how you could get scammed.

Just watch out for last minute changes to the deal.

[MoneyMorpheus]

Just make sure the transaction gets 1 confirmation before releasing the xrp

[jdogman]

I can't really use escrow because I will need to use his bitcoin to purchase the xrp.

I was reading about these attacks https://en.bitcoin.it/wiki/Double-spending How can I protect myself completely?

[MoneyMorpheus]

I can't really use escrow because I will need to use his bitcoin to purchase the xrp.

I was reading about these attacks https://en.bitcoin.it/wiki/Double-spending How can I protect myself completely?

You can't double spent btc if it is already confirmed 

[minerpart]

Protect yourself by waiting 20-40 mins till you see multiple confirmations of the funds in your wallet. There is no reversal or double-spend possible after multiple confirmations.

[MoneyMorpheus]

Protect yourself by waiting 20-40 mins till you see multiple confirmations of the funds in your wallet. There is no reversal or double-spend possible after multiple confirmations.

I think it can't be reversed after 1 confirmation as well. Double spents usually are transaction without fee's and, before the transaction gets confirmed, the same coins are send with fee's to another address. Feel free to correct me if I'm wrong.

[jdogman]

Thanks for all your replies

[Sonny]

Protect yourself by waiting 20-40 mins till you see multiple confirmations of the funds in your wallet. There is no reversal or double-spend possible after multiple confirmations.

I think it can't be reversed after 1 confirmation as well. Double spents usually are transaction without fee's and, before the transaction gets confirmed, the same coins are send with fee's to another address. Feel free to correct me if I'm wrong.

It can be reversed if the sender has a lot of computation power (51% attack).
But, in current situation, it is safe enough to have just 1 or 2 confirmation instead of 6, unless you are really doing a huge trade.

[PirateButtercup]

So this guy wants to buy 500,000 xrp (ripple) from me.  He has agreed to pay with bitcoin before receiving his xrp.  Is there anything I need to look out for?  I know its probably a scam but I can't help but think that if he's sending me bitcoin, then he can't do a charge back or anything.

What am I missing? Thanks

Unless you're looking to make a reasonable profit for offering to help him, then I would send him to ripplewise.com or btc2ripple.com. Both accept BTC anonymously and deposit XRP directly into the Ripple account provided (after 3 confirmations). Your acquaintance can do this himself....
Cheers!