What recourse do you have in case of paying by Bitcoin and getting scammed?

[kevin_k101]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

[1715029795]

1715029795

[1715029795]

1715029795

[1715029795]

1715029795

[Beerwizzard]

Jut use escrow. There is a lot of different websites (or even private forum users) offering such services. Now it could be used with online and offline trading. They all have their own specific listed in contract before transactions but it makes everything safer.

[john2231]

Better to hire some trusted escrow in services section here https://bitcointalk.org/index.php?board=52.0 and i think you can deal to someone safety that you are not using escrow..

Try this trusted escrow here if you deal to someone https://bitcointalk.org/index.php?topic=631008.0 but they are asking for payment

Or here try this escrow offering for free https://bitcointalk.org/index.php?topic=2062906.0

And hope that you don't deal to someone without escrow..

[_Miracle]

"What recourse do you have in case of paying by Bitcoin and getting scammed? "
the same recourse if you had paid with hard cash (fiat): none.
This is decentralized currency.... no "one" is in charge of it.

[Wind_FURY]

"What recourse do you have in case of paying by Bitcoin and getting scammed? "
the same recourse if you had paid with hard cash (fiat): none.
This is decentralized currency.... no "one" is in charge of it.

That is not a good argument. Do not drag fiat in the argument to get the attention away from the OP's question. The solution is of course to use escrow, although it is not trustless.

[DannyHamilton]

That is not a good argument.

Of course it is.  If you give someone an irreversible form of payment (regardless of whether it is Bitcoin or Gold, or Fiat currency), then you accept a risk. Your forms of recourse are identical in all those cases.

Do not drag fiat in the argument to get the attention away from the OP's question.

Drag fiat into the argument?  The point has nothing to do with it being fiat, and everything to do with it being irreversible.

The solution is of course to use escrow, although it is not trustless.

This solution is also available and commonly used for fiat, gold, and any other form of payment.

In the case of fiat, your bank or credit card company is acting as the escrow provider.  In the future, it will be quite likely that there will be bitcoin banks that will hold bitcoins for those that aren't comfortable securing their own and that will offer services much like current fiat banks.

[krishnapramod]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

Got scammed on this forum:

1. You will see several bitcoin related ads on this forum, they aren't endorsed by BCT so before using them or transferring any funds to them it's your responsibility to do some research about these to validate their legitimacy. In case you got scammed you can start a scam accusation thread, https://bitcointalk.org/index.php?board=83.0.

Sometimes you might get a refund, most probably not, but it would prevent other users from getting scammed.

2. You will see users endorsing their own services or products on this forum. The rule is to always use escrow when dealing with a fellow forum member, exceptions can be made if that user has a very good reputation or if you had several trades with that person, otherwise stick to escrow.

If you got scammed by an user then start a scam accusation thread and the best possible way BCT can intervene is by neg rating the scammer.

Generally got scammed using bitcoin:

Refunds are impossible with bitcoins so the best thing to do is avoid scams. Like I said, it's your responsibility to research, verify, validate and then decide is it worth spending your coins.

[klf]

"What recourse do you have in case of paying by Bitcoin and getting scammed? "
the same recourse if you had paid with hard cash (fiat): none.
This is decentralized currency.... no "one" is in charge of it.

That is not a good argument. Do not drag fiat in the argument to get the attention away from the OP's question. The solution is of course to use escrow, although it is not trustless.

While dealing with unknown people online it is always safer to go with trusted escrows. This process may add additional cost and some delays to transactions but it is a more secure way when dealing with cryptocurrencies. Never send any irreversible payments to an unknown person without using a trusted escrows.

If you want to pay with fiat then you got an option to use Paypal because they will provide a buyers protection so you can buy without worrying much.

[seattletu]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

At the moment there is no recourse available for Bitcoin purchases.The only way to avoid scams is Either use Escrow or study and research about the seller or client. Right now that is only possibility existing.As some one said above in future we may see Bitcoin banks, which help us to do more secure trading with any one.

[ethereumhunter]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

At the moment there is no recourse available for Bitcoin purchases.The only way to avoid scams is Either use Escrow or study and research about the seller or client. Right now that is only possibility existing.As some one said above in future we may see Bitcoin banks, which help us to do more secure trading with any one.

it is better to use escrow as third party to avoid getting scam because in bitcon, when we make transaction and its getting confirmed, we can not asked for refund although we can asked to the seller but if the seller is refuse to give refund then our bitocin can not back. escrow agent will help us to secure our bitcoin but we need to choose recommended escrow agent to avoid bad thing that will happen. but i don't think that bitcoin bank will solve this problem because if we have bitcoin bank, government will not stay for this and they will asked for paying tax to us and i don't think that we want to pay the taxes.

[_Miracle]

"What recourse do you have in case of paying by Bitcoin and getting scammed? "
the same recourse if you had paid with hard cash (fiat): none.
This is decentralized currency.... no "one" is in charge of it.

That is not a good argument. Do not drag fiat in the argument to get the attention away from the OP's question. The solution is of course to use escrow, although it is not trustless.

the key word was "recourse"
If you're going to be rude: don't be.
P.S. I wasn't in an "argument" until now.

Yes I am making a direct reference to bitcoin being digital cash as opposed to "hard cash".

[yoseph]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

Bitcoin cannot officially do anything to get your coins back in the evening that you are scammed, and since you don't really know the guy in person , there is no way to lodge an official complaint, Doing business with bitcoins takes a lot of risks especially when it's not a face to face deal.

[Juggy777]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

If you are talking of this forum then it's very simple use reputed escrow, you could get in touch with yahoo62278 though he's doesn't have a service thread, his reputation is enough. Always remember escrow charges a fee be careful when you deal with one and later don't argue that fees were not informed. Deal with members who have green and look at their post history to get a idea. Whenever in doubt insist on a escrow. Also the correct section for finding a escrow is service section post your requirements there.

[iptvgyal]

I believe the issue with Bitcoin is it "untraceable" hence why people like that scammer tell you it's the only accepted method. You need to report him to the police!

[Qartersa]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

If it is here on the forum, then you can file a scam report against the user that scammed you. But if his account is just a newbie or a throwaway account, he wouldn't care about his reputation. This is one of the tradeoffs bitcoins has. It is anonymous and irreversible, but if you get scammed then that means you can't go after the scammer or reverse the transaction.

[darkangel11]

I wonder why so many people want protection from the government or other agencies and can't at least attempt to protect their money and be careful with it.
Just think about it for a while. When you buy a knife, get careless with it and cut yourself, do you ask your neighbor for help or call the police? Maybe this isn't the best example, but I hope you can see the point. Don't blame others for your own stupidity. Don't forget that bitcoin is never at fault when you get scammed, just like a knife is not at fault when you cut yourself.

[guoyu78]

I am curious to know what recourse does anyone have when they look at the advertisement here on the board, pay money using bitcoin either by purchasing on the user's id or transferring using your account and not getting the product?

Would the Bitcoin to intervene if you lodge an official complaint?

There is no recourse to get your scammed money back. Even if you raise an official complaint, you cant get your money back. The only thing you can do is to create a post on the scammer in the Scam accusation Section and it will surely not give back you scammed money. Always use an escrow service to be safe and try to avoid upfront payment to avoid getting scammed.