Trust No One

[beelzebobo]

Fair call man... Nobody online is worth losing your cheese over

[MyZhre]

Do you trust the pool?

[Ean]

Another useless Newbee forum thread. Everyone is posting without any value add.

Really?

[diepigman]

There's a lot of shady exchanges out there.

[kkurtmann]

i trust my pool

[scotgardner]

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...

Incredible!  With that much encryption, changing your username is almost prerequisite...

[Aldun]

It might not be the best insurance, but I'm quite sure I could trust moderators for example ^_^.

[rogue88]

Trust no one, except your family

[Ean]

Trust no one, except your family

Why would I trust your family?

[diehard454]

I'd trust my neighbor before my family.  Less of a pain, and he never asks for nothing.

[rogue88]

^{What is trust?  Baby don't hurt me.}

[DaCat]

Family can't be trusted; they are to good at playing the pity card.

[ronald0211]

reminds me of the x-files 

[trill]

wow i totally agree

[Bitman_Began]

Someone pity me, I like many other lately, was foolish enough to trust Bitmarket... I sold about 60 BTC in the last 3 days and haven't had a reply from either a buyer, an admin, and certainly not a payment in my bank account. I wonder if I will ever even see those coins again! My funds are of course frozen indefinitely, with no communication from the admins at that site and others are saying they aren't able to get one either. Trust no-one...

[minecoin]

Oh, I will trust no one, not even myself or my FPGA mining for me...

[ondoin2]

Good guide, thanks.

[seaf20]

thanks for the tip

[satdav]

I dont trust anyone now the reason is due to someone reported me to a major irc network for spamming and making up logs qabiut me

[Proofer]

...  Bitcoin is based on value (rather than based on debt, like our present [and arguably, any conceivable] fiat currencies).  The exact intrinsic value that Bitcoin has is the value represented by the proof-of-work algorithm that is solved when nodes on the network process transactions.  Without this intrinsic value of Bitcoin, no extrinsic value (such as the ability to trade it for goods / services) would be possible.

I don't understand this.  That value -- CPU/GPU time, electricity, etc. -- was expended does not imply that same value was captured or saved to become intrinsic in the product.  The work that goes into proof-of-work makes the product scarce, but not valuable.  The intrinsic value of gold, for example, does not derive from the difficulty of mining it, but from its intrinsic properties such as brightness, inertness, malleability, etc.  Tree stumps are very hard to "mine" but don't have much value.