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Author Topic: Trust No One  (Read 158999 times)
vphen
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September 14, 2012, 04:00:40 PM
 #661

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don't trust online wallet services

even to Mtgox?
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September 14, 2012, 05:02:40 PM
 #662

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don't trust online wallet services

even to Mtgox?

I only store bitcoins offline. I send money to MtGox or other exchanges in small amounts, and only for the length of time it takes to make a transaction and get my money out again.

You may choose to trust an online wallet service if you feel they are trustworthy. I will not trust ANY online wallet until bitcoins can be stored safely even when a hacker has complete access to them. For instance, if bitcoins could be marked as savings in the protocol and become non-transferable for a period of time selected by their owner.

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September 14, 2012, 06:28:36 PM
 #663

Verify, then trust sparingly
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September 14, 2012, 07:00:53 PM
 #664

Thanks for writing this, the advice given will help me to protect myself from theft.
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September 14, 2012, 09:08:21 PM
 #665

This is true.  I used bitfloor originally, luckily i did not keep coin in their wallet.

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September 14, 2012, 10:22:07 PM
 #666

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don't trust online wallet services

even to Mtgox?

I only store bitcoins offline. I send money to MtGox or other exchanges in small amounts, and only for the length of time it takes to make a transaction and get my money out again.

This gentleman knows what's going on. I don't store bitcoins offline myself because I prefer to keep my money in USD (it's a bit more useful  Cheesy), but it would be cool to see the internet in general start accepting bitcoins as a payment method. I think once Amazon allows the use of bitcoins an offline wallet will be a very good idea. Until then, I rarely keep bitcoins from one day to the next (unless you count amounts less than half a bitcoin, leftover from transactions)
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September 15, 2012, 11:19:17 AM
 #667

Offline walet is very recomended i think
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September 15, 2012, 09:23:08 PM
 #668

Good advice. Is there a resource that lists trusted operators?
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September 15, 2012, 09:33:00 PM
 #669

Yeah trust NO ONE. INCLUDING THE TROLLS ON THIS FORUM.

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September 16, 2012, 08:01:47 AM
 #670

Sad, but common throughout the internet as a whole.
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September 16, 2012, 09:53:26 AM
 #671

The best thing to do is keep funds for transactions in exchanges, everyday use (if there is any) in a wallet on your pc (connected to the internet) and saving funds that you wont need for a while in an offline armory wallet.  These will then be completely safe. Other thatn that invest the funds!

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September 18, 2012, 04:28:04 AM
 #672

Good thread, thanks.
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September 18, 2012, 05:57:50 AM
 #673

Good advice. Is there a resource that lists trusted operators?
Such a list itself shouldn't be trusted as it would be written by a person (or multiple people) on the internet, and in compiling such a list they are implicitly asking you to trust them and their list of trust.  Now a web of trust may be another matter, but I'm neither very well versed in the details of a web of trust nor aware of such existing with a focus on the bitcoin community.

On topic: I've been on the internet for a long time and have learned by watching others how important it is to not trust anyone with much of anything, even a login to a game or somesuch.  Luckily I've never been burned by anyone I did trust, but I am always very careful.  Anyway, before I even started actually purchasing and using BTC I set up an offline wallet and all of the BTC I've bought so far have (and any I plan to buy in the future will) be sent to an offline wallet ASAP after being converted.  I do need to get my encrypted backups distributed though, as a fire or similar here would wipe most of my copies.  Someone here mentioned it before; you shouldn't trust yourself or your home/computer/HDD to be around or available forever either!
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September 18, 2012, 06:13:32 AM
 #674

a 'trust' list is, as the member said above me, contradictio in adjecto in a sense. this site would require an official escrow system in order to 'endorse' those trustworthy. if escrow cannot be serviced, this 'trust' list is a great cause for scammers, especially in allowing for the incentive to rank, distort, and exploit 'trustworthiness' etc.
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September 18, 2012, 09:27:44 AM
 #675

Very helpful advice
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September 18, 2012, 06:40:02 PM
 #676

Bitcoin is essentially cash. The only thing I worry about is the tracking that comes along with all these new programs. I know for it to truly succeed although we are going to need major infrastructure.

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September 18, 2012, 06:50:44 PM
 #677

In other words, Bitcoin is like Paypal. Don't send money to unverified strangers.
it's not necessarily about trust, but due diligence.

use a phone book, make sure the name matches the address, and the phone number is real. Call them.
Same thing people do with PayPal when verifying customers.

People who are identified won't be very likely to scam you.
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September 18, 2012, 07:30:24 PM
 #678

Thanks for the advice Grin
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September 19, 2012, 12:10:26 AM
 #679

this is very helpful. thanks for your advice!
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September 19, 2012, 03:08:55 AM
 #680

thanks for the tips
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