Trust No One

[Ridi]

Not to mention, when you do get screwed with a bank.  Not only is your money stolen, but getting a new encrypted wallet on a new piece of hardware is probably a lot easier than dealing with a bank to get a new account or password.

[leniad]

Not to mention, when you do get screwed with a bank.  Not only is your money stolen, but getting a new encrypted wallet on a new piece of hardware is probably a lot easier than dealing with a bank to get a new account or password.

makes sence

[nighteyes]

I do think that a more secure method should be establish to securely keep your wallet safe. The only thing that comes to my mind is a bank of some sort, but i would also y scare of that, just by thinking that im giving someone or an organisation control of my coins.

We can move at least part of the way there if the namecoin network gets moving correct? If you had a .bit address that contained your personal bank. I dont know where the .bit website info is held, and on that part Im confused...but it sounds like for a price ,a piece of cyberspace can be had to run your personal transactions....but again, maybe Im completely misunderstanding namecoin.

[spruce]

I like paper bitcoin wallets like those from Casascius, although you have to trust that he kept no copy (I do). Then, since the private key has at no time been near the internet, you're safe from computer crime.  Encode the private key with a literally-unbreakable one-time code (see link in my sig) and you're all set. Until you want to start spending from that wallet, but that's another story.

[bou707]

paper bitcoin is a good idea

[goodlord666]

Hey kids! Just trust the really smart guys!

[camosoul]

I'm ultraparanoid. It should be my username...

I have my wallet on my Linux box who's / is under 4 concurrent layers of DM_crypt. I ran that system before I ever heard of bitcoin. I'm not doing anything illegal, I just don't think my business is anyone's damn business. I take my wallet offline with a flash drive using TrueCrypt. I use the triple cascade encryption option on a file container. I even use that tiny new lexar echo drive and geocache a backup of the wallet in a similar container file. It's tiny, and even if somebody finds it, what can they do? That degree of encryption is just stupid. I'm considering a MicroSD geocache instead, it's even smaller.

If I could do that to the cash in my wallet, I would. You can't hide cash in a geocache as an off-site, off-line backup, and still be assured of it's safety. BTC is the best.

I only wish I could find someone local to buy BTC from w/ cash... The locator services are useless. If the forums had a geographicaly organised section, it would be a dream...

[Gr4ndpA]

"Don't trust no one but your mama, and still cut the deck.."

[The Vark]

I'm ultraparanoid. It should be my username...

I have my wallet on my Linux box who's / is under 4 concurrent layers of DM_crypt. I ran that system before I ever heard of bitcoin. I'm not doing anything illegal, I just don't think my business is anyone's damn business. I take my wallet offline with a flash drive using TrueCrypt. I use the triple cascade encryption option on a file container. I even use that tiny new lexar echo drive and geocache a backup of the wallet in a similar container file. It's tiny, and even if somebody finds it, what can they do? That degree of encryption is just stupid. I'm considering a MicroSD geocache instead, it's even smaller.

If I could do that to the cash in my wallet, I would. You can't hide cash in a geocache as an off-site, off-line backup, and still be assured of it's safety. BTC is the best.

I only wish I could find someone local to buy BTC from w/ cash... The locator services are useless. If the forums had a geographicaly organised section, it would be a dream...

There's still time to change your username, because that would have been most fitting!

BTC to Cash locally is tough, I would suspect mostly because this is a pretty small community by most standards and we're spread out all over the globe.  I haven't found a good solution yet either, I'm just hoping that as Bitcoin matures so will the locator services and alike.

But, until then, I just had to offer my kudos on a truly terrifying amount of encryption on your part.   

[whatsitworth]

All great advice for a newbie like me, thanks!

[dacoinminster]

Obvious

Ofcourse

Is this how newbies build up their post count so they can get out of this section? I feel kind of sorry for them . . .

[Xephan]

Is this how newbies build up their post count so they can get out of this section? I feel kind of sorry for them . . .

Basically that's what happens when a forum impose a post count limit on newbies. It just makes them more spammy.

[greenbee]

Paper bitcoin would be just a piece of paper with a really nice number draw on to it by the owner.

[BBanzai]

Local trading does happen, and much like EBay's model for vendor reputation, it requires publically viewable comments on transactions...obviously, new vendors and new customers are both at a disadvantage.  But brave folks try new vendors with pocket change and see how it goes.

[FlipPro]

+1 a trillion times.

Noobs please take the time to learn as much as you can about Bitcoin. Treat it as cash.

TREAT IT AS CASH

I cannot stress this ENOUGH.

[kilgore]

So if the bitcoin markets aren't safe, how can I trade my bitcoin??

As far as encryption of the wallet goes:

Should I be hiding my encrypted wallet, and only retrieve it when I need to run the bitcoin program?  It can't be encrypted and used and the same time, right?

[Gr4ndpA]

+1 a trillion times.

Noobs please take the time to learn as much as you can about Bitcoin. Treat it as cash.

TREAT IT AS CASH

I cannot stress this ENOUGH.

I sent $100 cash in the mail once. The guy said he never got it on the phone.... then a month later I found $60 in my pijamas and then two months later I found $40 in my poker chip box!

[Ridi]

So if the bitcoin markets aren't safe, how can I trade my bitcoin??

As far as encryption of the wallet goes:

Should I be hiding my encrypted wallet, and only retrieve it when I need to run the bitcoin program?  It can't be encrypted and used and the same time, right?

Don't trust equates to don't be stupid.  Obviously Mt.Gox isn't safe. You might find TradeHill or another site worth some investment if you investigate (always investigate, ask questions, run a search,) and then only trade in amounts that you're willing to lose if something goes haywire.

Document everything.

And just because Bitcoin allows you to be anonymous doesn't mean you have to accept that as an excuse for people not letting you know who you're dealing with.  I might be willing to do business with TradeHill, but I would rather buy and sell bitcoin locally with people I've met or can meet face to face any day of the week.

Hmm that might be a worthwhile forum to start-up.  A place where sellers and buyers can find each other State by state, maybe I should look around on Craigslist.

[silverchair]

Just be careful whom to trust. 

[kilgore]

Hmm that might be a worthwhile forum to start-up.  A place where sellers and buyers can find each other State by state, maybe I should look around on Craigslist.

It already exists!

http://tradebitcoin.com/