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Author Topic: Trust No One  (Read 143115 times)
Serenata
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March 12, 2012, 07:59:58 AM
 #361

Nice post dacoinminster and I agree with most of your points, though I believe that there are levels of trust. All depends on the "volume". I wouldn't go to the supermarket carrying 10000 euros on me so the same goes with Bitcoin... I wouldn't use the "big" (or "savings" if you prefer) wallet to make transactions all over the internet. A hosted wallet service is quite OK as well, if you use it for "pocket money" transactions.

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March 14, 2012, 04:02:47 PM
 #362

Be Careful would be the best advice instead of trust no one.

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March 16, 2012, 12:46:31 PM
 #363

People should exercise prudence and trust no one.  Both are vitally important. 

Let us also not forget what the ancients enjoined "Know thyself." 
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March 18, 2012, 02:44:50 PM
 #364

Thanks good advice
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March 18, 2012, 03:37:42 PM
 #365

Thanks for the common sensical advice!
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March 20, 2012, 06:47:26 PM
 #366

"trust noone" is bullshit. grow some balls, trust some people and take risks. otherwise we're getting nowhere: everyone just sitting on his rotten pile. money must flow, otherwise it's not money.

An economy is people working together, having ideas, producing stuff, investing their money. How is that supposed to work if noone trusts anyone?

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March 21, 2012, 02:02:46 AM
 #367

"trust noone" is bullshit. grow some balls, trust some people and take risks. otherwise we're getting nowhere: everyone just sitting on his rotten pile. money must flow, otherwise it's not money.

An economy is people working together, having ideas, producing stuff, investing their money. How is that supposed to work if noone trusts anyone?


Good point. However, that is optional trust. The whole point of cryptocurrencies, and thus Bitcoin, is that you aren't FORCED to trust anyone. Also, an economy only requires people to trust that others will act in their own self-interest. Being trustworthy is good for business, if the system is good. The optimal system is where all people's best interests are mutual, therefore, no conflict/crime.

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March 21, 2012, 04:44:50 AM
 #368

I am a naturally trusting person, and I suppose looking at this bitcoin thing, I set up some pc's, they make me money, WTF?  Grin
Where I live money is fairly easy to come by, just takes a bit of work.
This doesn't even require work  Huh
At the end of the day, any system, anyone, anywhere can get ripped off.
I think people invest too heavily in "securing wealth" instead of, I dunno, spreading it so other people don't need to steal it =/
I'm no expert, but I'd say that this entire economy might be somewhat influenced by politics. i.e. if America, the EU, or any other county has a problem with the BTC economy, and decide to make it illegal, price drops.
If too many countries crack down, I can't see BTC being the best investment =(
Hope I'm wrong, 'cos I wanna stack the skrilla with you boys yo', but, like with any currency I guess, there is always the presence of imminent failure.
Having said that, I would like to thank dacoinminster for his excellent thread and information, which is very informative, and I have taken much of it on board.
I guess what I'm trying to say is, at the end of the day, it's just money =/

On a side note, just had an idea, dunno if someone cleverer than me already came up with it, or if it's possible (can't think of why it shouldn't be), but, would it be possible to attach two, or even more passwords to a bitcoin wallet, so for joint accounts all parties must enter their own passwords?
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March 21, 2012, 05:45:16 PM
 #369

No trouble to have a joint account sitting on an encrypted disk that needs 2 keyfiles to open.

I read in a book once: "I don't trust anybody I don't know, and I treat everybody like I don't know them"

I'd approach every new thing with a lack of trust, and let that trust be earned.

(Kind of like the forum does with newbies. )


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March 22, 2012, 12:54:26 AM
 #370

lol, love it, and very true to an extent.
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March 23, 2012, 03:40:56 AM
 #371

Oh yay, I'm so paranoid now! Actually, my first password ever to my first e-mail account was Tru5tN01, so I have probably been paranoid for awhile.
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March 23, 2012, 02:52:18 PM
 #372

Be Careful would be the best advice instead of trust no one.

Exactly.  Immediately after accepting that, still remain vigilant. 
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March 26, 2012, 06:42:25 PM
 #373

good thread.

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March 27, 2012, 12:38:43 PM
 #374

No trouble to have a joint account sitting on an encrypted disk that needs 2 keyfiles to open.

I read in a book once: "I don't trust anybody I don't know, and I treat everybody like I don't know them"

I'd approach every new thing with a lack of trust, and let that trust be earned.

(Kind of like the forum does with newbies. )



I've secured my wallet as suggest by the wiki, I believe, but I feel I need to take that extra step and use something like TrueCrypt to further secure it. But then there is the issue of mounting and unmounting the encrypted image when appropriate.

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Kush
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March 28, 2012, 01:17:25 AM
 #375

What's the point of bitcoin if you have to be so paranoid?
juve4v
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March 28, 2012, 08:35:59 PM
 #376

The amount of BTC proportional to the amount of paranoia or viceversa
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March 28, 2012, 10:36:03 PM
 #377

I somehow agree with this, but then the whole idea of the anonymous trade stops working. There must be other methods that don't include giving personal informarion.
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March 29, 2012, 06:04:36 AM
 #378

The way bitcoin works, you get your bitcoins from mining or buy from an exchange or from someone. Then send the same bitcoins into an offline or paper wallet, or a bitcoin address that you created using one of the many generators or even the client itself.

You don't need to trust anyone. The network takes care of that for you. You just need to secure the coins you control.

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March 31, 2012, 01:48:00 PM
 #379

Loved the comic strip.
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March 31, 2012, 04:54:51 PM
 #380

yes bitcoins are really difficult to track
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