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Author Topic: Trust No One  (Read 159789 times)
goshlosh
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January 23, 2013, 09:01:41 AM
 #981

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.
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MikeD
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January 23, 2013, 10:53:06 PM
 #982

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.
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January 24, 2013, 02:31:49 AM
 #983

Have been scammed only once for .5btc lol, wasn't to big of a deal, but really just be skeptical all the time
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January 24, 2013, 06:30:29 AM
 #984

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
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January 24, 2013, 03:20:55 PM
 #985

Listen to this thread.. TRUST NO ONE!
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January 24, 2013, 03:46:22 PM
 #986

I got in at the beginning of the online gambling game.......these are words to live by.
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January 25, 2013, 12:39:40 PM
 #987

Thanks for the guidelines! Smiley
MrKnowITall
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January 26, 2013, 02:11:15 AM
 #988

I must say after conducting an exhaustive research of bitcoin & bitcoin wallets the post was dead on.  Thanks a million for the refresher!
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January 26, 2013, 08:04:27 AM
 #989

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.

You like my post? Buy me a beer for ฿0.01
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dbasql
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January 27, 2013, 01:58:48 AM
 #990

Thanks for the information.
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January 27, 2013, 08:13:24 AM
 #991

Thank you for this post!
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January 28, 2013, 07:47:28 AM
 #992

Someone trusted me once, it worked out for them but in general I would agree. Don't trust anyone.
Chrille
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January 28, 2013, 01:04:29 PM
Last edit: January 29, 2013, 01:09:27 AM by Chrille
 #993

A reminder to never trust the exchanges.
liralen
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January 29, 2013, 08:13:12 PM
 #994

Some of us have found that out the hard way.
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January 30, 2013, 01:54:31 AM
 #995

Deep and thought-provoking post. While I don't agree with all of it, the encryption and offline wallet is the way to go. Where would this currency have ever gotten it's footing if everyone went about the idea with "Never trust anyone."
gb5692c
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January 30, 2013, 02:21:19 AM
 #996

Awesome info
tobandan
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January 31, 2013, 04:11:01 PM
 #997

Aye, brother!

BTCut what encryption would you recommend?
sublime5447
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February 01, 2013, 04:25:54 AM
 #998

I agree it is all about knowing who to trust. That is why I developed a way to verify customers for coins Grin


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Timer
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February 01, 2013, 11:53:24 AM
 #999

What are the safest Escrows to use on this forum?
BrainGame
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February 01, 2013, 12:42:58 PM
 #1000

"Trust no one" is just so - nonsense. You have to trust your doctor, your bank and the shop you buy your food. The doctor for his ability to cure you, the bank for not just taking your money and the food for not beeing poisoned. But you can of course keep an watchful eye on everybody.
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