Trust No One

[Giant redfox]

Yes, I am sure it can be trusted!

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[IAmBitGirl]

@UncleBobs good question. That goes for a lot of things (e.g. used car dealer, real estate agent, friends). You just hope that they are honest.

[UncleBobs]

@UncleBobs good question. That goes for a lot of things (e.g. used car dealer, real estate agent, friends). You just hope that they are honest.

Hi BitGirl.  What I'm wondering about is the general reputation of the escrow services.  To use your examples, I'd probably trust a real estate agent more than a used car dealer, because used car dealers have a well-deserved reputation for sharp practice, to say the least.  Are there any escrow services that are "head and shoulders" above the others in terms of their reputation, like MtGox is for exchanges?

Anyway, technology is coming to our rescue.  When Big Brother can give lie detector tests over Skype, we'll all be safe from the fibbers  www.wired.com/threatlevel/2013/01/ff-lie-detector/all/

[RobertM]

yeah
i just recalled Mr. moon
the guy who took my 100 btc.

[dmus]

Topic cannot be stressed enough.

[cheehoo909]

what can be done to provide better trust between exchanges and customers?  better security? Better general information about the owner like name, if registered insured company?

[oliviancool]

Do not trust anyone, my advice!

[bigdork]

Lucky for me, my first transaction buying Bitcoin online, I totally trusted a random person with a $200 moneypak. They came through and I've been a happy bitcoiner ever since .


I've been scammed by 2 people for about 12 bitcoin. The transactions were so small I didn't suspect fraud. Other than that, my interactions have been overwhelmingly positive. People who use bitcoin want bitcoin to work (for the most part). Have faith, but be careful.

[xxjs]

Do not trust anyone, my advice!

Generally, you need to trust someone, sometimes. You can probably trust your wife to wash your underwear.

[mygodpp]

good to know that

[goshlosh]

Do not trust anyone, my advice!

Generally, you need to trust someone, sometimes. You can probably trust your wife to wash your underwear.

Yes, the first time you got pure LUCK. This thread is exactly for people like you who think scammers don't scam for small amounts. But they do.

[MikeD]

I use Bitcoins only as a means to an end.  A site that I need to send money to only accepts BTC, so I load up the funds needed on my Coinbase wallet, then send them away.  My wallet almost always carries a 0 balance.

Holding massive amounts of money in the form of Bitcoins is a potentially very dangerous endeavor.  Some folks mentioned "getting in early" on Bitcoins, which would be seeking to profit from a potentially upward shift in the exchange rate to a national currency.  This is like trading FOREX, only unlike FOREX there is not an entire country backing the value of Bitcoins.

Bitcoins are only as valuable as they are secure, employed, and sought after.  If Bitcoins are left behind for another form of virtual currency, and no one wants to buy them anymore, they will become worthless.  If businesses and privateers stop accepting Bitcoins, they will become worthless.  And if some major flaw in the security of Bitcoins is exposed, they will become worthless.

That's a pretty big risk, if you ask me - which nobody did.

[koalahauff]

Have been scammed only once for .5btc lol, wasn't to big of a deal, but really just be skeptical all the time

[defluo]

I thought I could trust GLBSE to be stick around, took most of my coins with them. I got half back and reissued shares of BITBOND  on cryptostocks, which are practically worthless. Don't trust anybody with any more than you're willing to lose. Bitcoin is the new wild west of the internet.

[constitution]

Listen to this thread.. TRUST NO ONE!

[jcash23]

I got in at the beginning of the online gambling game.......these are words to live by.

[PeterChang]

Thanks for the guidelines!

[MrKnowITall]

I must say after conducting an exhaustive research of bitcoin & bitcoin wallets the post was dead on.  Thanks a million for the refresher!

[maunderingcabal]

This is a good warning to new users. Nice post. There are some shady people on the internet. I'm worried about saving my wallet on my computer, what if the computer just died. I would never keep a very big balance, but still. That's a scary thought that you could lose money from hitting the delete key on accident.

[dbasql]

Thanks for the information.