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Author Topic: First approach 2 BTC  (Read 474 times)
nrm4bits (OP)
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December 20, 2016, 09:46:57 PM
 #1

I read this post about earning bitcoins (https://bitcointalk.org/index.php?topic=1244332) and i found some of them interesting, specially the writing, services and the products ones. Bitcoin still very new to me and so making money online. The most common risk when making business online is getting scammed, maybe this questions have already been answered in some posts in the forum but i havent found it or the ones i have read didnt convince me, anyway my questions and thoughts are:

1- How do you do business here in the forum? Does it functions like the freelancer sites or is it just a matter of trust between users?

2- I know that we can use the service of an escrow here but, let's say i'm selling an e-book for example, and this guy want to buy it but neither trust each other so we look for a trusted third person (that's the escrow's definition I found here https://bitcointalk.org/index.php?topic=1626462.msg16355251#msg16355251) and we send the money and the product to him. So:

   2.1- Why won't the escrow keep a copy of my product for free?

or if in the case that i send the product directly to the buyer:

   2.2- Why won't the buyer say he didnt get my product and keep both the product and the money?

I guess what i'm looking for is the safest way of doing business even knowing there is always a risk.

3- Now related to accounts. What about the top ranked users, trustful escrows and/or any user here in general. I know that keep control about buying and selling accounts is imposible and the administrators (or whoever) dont do it due to a matter of not lying to the user (i think i read that in a post).

/*   I found some useful links about trust & related topics, for newbies like me:
   -> https://bitcointalk.org/index.php?topic=33835.0  - Trust no one
   -> https://bitcointalk.org/index.php?topic=891261.0 - Trust Vocabulary
   -> https://bitcointalk.org/index.php?topic=211858.0 - Marketplace trust
*/

So how can we really trust in the others?

4- Related to exchanging currencies. I found this site (https://www.bestchange.com/) that claims every exchanger listed is legit and trustful.

   4.1- Have you heard and/or use this site and any of the exchangers used there? and if so any opinions Smiley

   4.2- Have you ever exchanged bitcoin to USD (Western Union)
   
5- Last but no least, the measurement units and notations, explanation please.
   * BTC       = bitcoin
   * 1 mBTC   = 0.001 BTC
   * Satoshi    = 1 uBTC    = 0.000001 BTC
   * bit      = Huh

thks in advance, any mistake let me know
cuddleface
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December 20, 2016, 09:55:09 PM
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So, I can answer the fifth point of your post:

1 BTC = 1.0 BTC (Just for notation. This line is for Demonstration purposes only.)
1 mBTC = 0.001 BTC
1 Bit = 0.000001 BTC
1 Satoshi = 0.00000001 BTC

Hope that helps!
ZACHM
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December 20, 2016, 10:15:33 PM
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2- I know that we can use the service of an escrow here but, let's say i'm selling an e-book for example, and this guy want to buy it but neither trust each other so we look for a trusted third person (that's the escrow's definition I found here https://bitcointalk.org/index.php?topic=1626462.msg16355251#msg16355251) and we send the money and the product to him. So:

   2.1- Why won't the escrow keep a copy of my product for free?

or if in the case that i send the product directly to the buyer:

   2.2- Why won't the buyer say he didnt get my product and keep both the product and the money?

I guess what i'm looking for is the safest way of doing business even knowing there is always a risk.

If you make a deal with someone, they send the BTC to the escrow, the escrow confirms receipt and tells you it is ok to send the product to the buyer. When the buyer receives the product they tell the escrow to release the funds and the escrow sends it to you.

If the buyer claims he did not get it, then it is up to escrow to decide, usually by requiring proof from both parties. Meaning you need to provide some form of proof that you sent it. In the case of something digital, maybe copies of emails, or links that show it was downloaded, etc. When shipping something usually the tracking number would be good and some pictures of the item boxed up.
DannyHamilton
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December 21, 2016, 03:25:35 AM
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1- How do you do business here in the forum? Does it functions like the freelancer sites or is it just a matter of trust between users?

This is just a discussion forum.  It is not a commerce website.  You can attempt to engage in business with other members fo the forum if you want to (nobody is going to stop you from trying), but there really isn't anything built into the website to protect you or your customers.

2- I know that we can use the service of an escrow here but, let's say i'm selling an e-book for example, and this guy want to buy it but neither trust each other so we look for a trusted third person (that's the escrow's definition I found here https://bitcointalk.org/index.php?topic=1626462.msg16355251#msg16355251) and we send the money and the product to him. So:

   2.1- Why won't the escrow keep a copy of my product for free?

Don't use an escrow provider that you don't trust. Keep in mind that there are members of this forum that have been VERY trusted, and then later acted in an untrustworthy way.  If you choose to engage in business here, it will be intrinsically risky.  It will be up to you to manage your own risk and to figure out who you want to trust and who you don't. The forum provides a feedback system that allows users to describer their interactions with others, but that system is often abused.  Scammers leave negative feedback to try to discredit trustworthy individuals, and create extra user accounts to leave themselves positive feedback.  They also create accounts with userID that are very similar to trustworthy members.

or if in the case that i send the product directly to the buyer:

   2.2- Why won't the buyer say he didnt get my product and keep both the product and the money?

Make sure you understand EXACTLY what the conditions are of release of escrow, and that you agree with those conditions.  IF there is a dispute, then a quality escrow provider will give you and the other party an opportunity to reach an agreement on how to resolve it.  If you are unable to reach an agreement, then a quality escrow provider will mediate the dispute and come to as fair a resolution as they can given the terms that both parties agreed to ahead of time.

I guess what i'm looking for is the safest way of doing business even knowing there is always a risk.

3- Now related to accounts. What about the top ranked users, trustful escrows and/or any user here in general. I know that keep control about buying and selling accounts is imposible and the administrators (or whoever) dont do it due to a matter of not lying to the user (i think i read that in a post).

So how can we really trust in the others?

You can't.

4- Related to exchanging currencies. I found this site (https://www.bestchange.com/) that claims every exchanger listed is legit and trustful.

   4.1- Have you heard and/or use this site and any of the exchangers used there?

No.

and if so any opinions Smiley

If they "claim every exchanger listed is legit and trustful", then I don't trust them at all.  How would they know? Sounds like a scam to me.

   4.2- Have you ever exchanged bitcoin to USD (Western Union)

Yes, but not at that site.

5- Last but no least, the measurement units and notations, explanation please.
   * BTC       = bitcoin
   * 1 mBTC   = 0.001 BTC
   * Satoshi    = 1 uBTC    = 0.000001 BTC
   * bit      = Huh

Metric (SI) prefixes tend to be used.

So:
    centi = 0.01
    milli = 0.001
    micro = 0.000001

The smallest unit that bitcoin can be broken into in the blockchain protocol is 0.00000001.  This has been given a nickname taken from the pseudonym of the person (or group) that created the bitcoin protocol (Satoshi).

There are some people that have decided to give microbitcoin a nickname of "bit" and centibitcoin a nickname of "bitcent".  There are also a few that have decided to give 10 satoshi (0.1 microbit) a nickname of "Finney".  These aren't common, but you will occasionally see them used.

So:
  • 1 satoshi = 0.1 finney = 0.00000001 BTC
  • 10 satoshi = 1 finney = 0.0000001 BTC
  • 100 satoshi = 10 finney = 1 microbitcoin = 1 μBTC = 1 bit = 0.000001 BTC
  • 1,000 satoshi = 100 finney = 10 microbitcoin = 10 μBTC = 10 bits = 0.01 millibitcoin = 0.01 mBTC = 0.00001 BTC
  • 10,000 satoshi = 1,000 finney = 100 microbitcoin = 100 μBTC = 100 bits = 0.1 millibitcoin = 0.1 mBTC = 0.0001 BTC
  • 100,000 satoshi = 10,000 finney = 1,000 microbitcoin = 1,000 μBTC = 1,000 bits = 1 millibitcoin = 1 mBTC = 0.1 bitcent = 0.1 centibitcoin = 0.1 cBTC = 0.001 BTC
  • 1,000,000 satoshi = 100,000 finney = 10,000 microbitcoin = 10,000 μBTC = 10,000 bits = 10 millibitcoin = 10 mBTC = 1 bitcent = 1 centibitcoin = 1 cBTC = 0.01 BTC
  • 10,000,000 satoshi = 1,000,000 finney = 100,000 microbitcoin = 100,000 μBTC = 100,000 bits = 100 millibitcoin = 100 mBTC = 10 bitcent = 10 centibitcoin = 10 cBTC = 0.1 BTC
  • 100,000,000 satoshi = 10,000,000 finney = 1,000,000 microbitcoin = 1,000,000 μBTC = 1,000,000 bits = 1,000 millibitcoin = 1,000 mBTC = 100 bitcent = 100 centibitcoin = 100 cBTC = 1 BTC
nrm4bits (OP)
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December 21, 2016, 04:48:02 AM
 #5

WOW DannyH, you have answered all my questions, i was thinking that i posted too much, anyway thks Smiley
So can you tell me where have you exchanged bitcoins for USD Western Union
DannyHamilton
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December 21, 2016, 10:39:55 AM
 #6

where have you exchanged bitcoins for USD Western Union

localbitcoins.com

AND

the Currency Exchange sub-forum here at bitcointalk.
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