Trust No One

[earth159]

good.

[geodude]

I learned the hard way. Trust nobody.

[YeahBitcoin]

So many sites popping up right now it's hard to how many of them are legit. Sheath up that wallet....

[bkk2090]

Yea, seems scum are all over trying to scam.  Shit is fucked.

[turkdragon13]

dont your bitcoins just stay in your wallet if you dont use them?

[Shadow714]

Thanks for the tips

[Stunna]

Thanks for the advice, will certainly keep this in mind.

[xk5]

I think it's nuts that anyone uses an online wallet at all, which in my defeats a considerable amount of the anonymity and total control aspects that make BTC great.  But then again one of the main reasons I use bitcoins in the first place is because I'm paranoid as hell, so to each their own I suppose.

One thing though is that if you are not going to use an online service... make sure to encrypt your wallet and always have a backup on a thumb drive or other physically removed device.  Make sure to backup each time you add new receiving addresses or you'll never retrieve those coins if your wallet file gets corrupted or trashed in some way.

[BitCoinSeo]

It seems to me that bitcoin trading is kind of like the online freelancer websites, you have to take time to build up a good reputation and sometimes start off with small jobs to earn peoples trust.
Facebook profile just tells you a person is on the internet it doesnt say what kind of person they are.
I have almost 10yr old ebay account with 100% rating same with at freelancer that should mean something in an ideal world internet.

[Mills00013]

I'm actually scared to death recently of how dangerous the market is becoming. I guess it's no different than carrying large amounts of cash and dealing like that, but it's still a whole new world. Good to have some of the advice given in this thread.

[Beauxe]

I would suggest the community develop standards for a "good business seal of approval" - particularly as it concerns transparency and responsibility.  While the anonymous feature of bitcoin is appealing in so many ways, it is not realistic to think that a currency can be successful in an ecosystem without trust and accountability.  If we are to develop legitimate financial and processing infrastructure, much of it will have to operate in a similar fashion to the bricks and mortar infrastructure we have built over centuries.

[isnoop]

I would suggest the community develop standards for a "good business seal of approval" - particularly as it concerns transparency and responsibility. 

BBTCBB.  Better Bitcoin Business Bureau.  It just rolls off the tongue.

[Tony116]

thks for your advice.

[szita2000]

I would suggest the community develop standards for a "good business seal of approval" - particularly as it concerns transparency and responsibility.  While the anonymous feature of bitcoin is appealing in so many ways, it is not realistic to think that a currency can be successful in an ecosystem without trust and accountability.  If we are to develop legitimate financial and processing infrastructure, much of it will have to operate in a similar fashion to the bricks and mortar infrastructure we have built over centuries.

If you think it is not far off from "perfect" I think the biggest limitation of the currency is the electricity price. Where it won't be economical to mine, everybody will leave BTC and move to another cryptocurrency.

[Wardrick]

Theymos is about to lend out 1000's of BTC to people. Uh oh

[lamaestro]

Thanks for the warning! ^^

[shibaji]

It certainly looks like e-currency community needs protocols for better security. Due to chargeback issues, at the moment it is very hard to convert between fiat and e-currency. I wish it becomes smoother quickly.

[Galt]

thanks for the tips

[kikotoby]

you can always use escrow if you need it...

This is not a review of SR .  We all know that everyone who uses SR they should use the escrow ..Still good info bro..You are correct but alot of people still get scammed bye people ,vendors who mandate that they FE.
That is the biggest red flag for me..

[hashrate]

Great introduction into the dangers of the marketplace. It's a shame I can't encrypt each of my dollar bills.