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Author Topic: Trust No One  (Read 160639 times)
this1dude
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May 14, 2013, 05:59:13 PM
 #2121

awesome advice, will heed  Grin

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Supercoin
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May 14, 2013, 06:05:33 PM
 #2122

It's right!
itod
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May 16, 2013, 01:43:02 PM
 #2123

The fact that I'm paranoid doesn't mean they are not trying to get me! Wink

 
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dj213
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May 20, 2013, 07:35:11 PM
 #2124

thx for all informations, but i think it up to us how to secure our investments and how to put faith in people!
At the end its all about money!

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deadweasel
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May 20, 2013, 07:37:37 PM
 #2125

thx for all informations, but i think it up to us how to secure our investments and how to put faith in people!
At the end its all about money!

It sure is.  Good luck.

jimi8383
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May 24, 2013, 12:14:43 AM
 #2126

great post...learned a lot  Grin
AnonBitcoinBuyer
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May 24, 2013, 12:29:10 AM
 #2127

Staying alert != paranoia  Smiley
marykay
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May 24, 2013, 08:12:53 AM
 #2128

I'm glad you posted this I will always think back to this before doing anything Smiley
tiros
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May 26, 2013, 12:13:18 PM
 #2129

Thanks for this useful post.

Greed shouldn't be the essence of bitcoin
pablotextoris
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June 02, 2013, 04:26:52 PM
 #2130

The problem is that trust is a snowball and eventually the amount trusted is going to get bigger and bigger. I'm a cynic so I don't believe that anybody is incorruptible, just a matter of price. Sometimes it's not even the person's intention to defraud anybody, things might happen that he is forced to make a bad decision.

After all, if a crook knows Michael is holding on to say 10K BTC or about US$ 120K (now but hey it might be US$1.2M 2 years later) worth for you, and given his full name and such makes it that the crook knows exactly where Michael leaves, what's to say he won't pay Michael a surprise visit and force Michael to transact that 10K BTC + his own personal stash somewhere else where his partner immediately converts it to cash?

I've been thinking about trying to come up with a system that can be untrusted but seriously at every point, I always find a human being can always fuck it up from outside the technological system. Of course it could be my paranoia coming up with all kinds of "ridiculous scenarios" that won't ever happen in real life. Even then it's only a question of how probable.

So fundamentally the only way to reduce the exposure to close to zero is just a system with low fraud/loss probability P + never trusting it with more than X amount so that P * X is always such a small number that the users won't really feel it even if that system fails.

Amen to that! - Very well worded

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June 02, 2013, 04:52:05 PM
 #2131

Great advices. Thanks

hatted
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June 06, 2013, 01:03:18 PM
 #2132

I heard of a story of someone's BTC being hacked despite all measures being taken, such as Paper Wallet, Truecrypt, and offline access, but they still got hacked.

It does make me paranoid, but I guess that's just some of the risks of using Bitcoin.

Every form of money have the risk of stealing. But don't be paranoid.  Smiley
dawie
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June 07, 2013, 11:03:52 PM
 #2133

One can never be too carefull.  Hopefully BTC would at least instill some better qualities back into the majority of humanity in the long run.

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BTC: 1HWUnvZ3xQykdSJsfyGiGQpZG16uFe8DXJ
XMR: 44fJ52WJGUmceBX6iARnfW6k9p2MFrwkb9AeXRDvQDaZYM8zkA2uuysE164GBGrhkvGh8PAxGUFU5Fq eEmk82Cww3CHdeRS
thestringpuller
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June 07, 2013, 11:08:54 PM
 #2134

Trust no one: not even yourself...
dawie
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June 07, 2013, 11:13:07 PM
 #2135

That does not really instill confidance does it?

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XMR: 44fJ52WJGUmceBX6iARnfW6k9p2MFrwkb9AeXRDvQDaZYM8zkA2uuysE164GBGrhkvGh8PAxGUFU5Fq eEmk82Cww3CHdeRS
John818
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June 07, 2013, 11:27:06 PM
 #2136

I trust myself but even I can't be trusted, so where do I go from here?!
quantumlooper
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June 08, 2013, 03:29:01 AM
 #2137


And what about the bitcoin developers?
frito
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July 01, 2013, 04:25:55 PM
 #2138

Seriously. Don't trust the exchanges, don't trust online wallet services, don't trust your anti-virus software, and don't trust anybody online.
....



Comic from: http://bitcointalk.org/index.php?topic=13903.0
mew. I do not trust u buddy.
agaric
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July 01, 2013, 04:33:05 PM
 #2139

I think bitcoin developers can easily rip everybody
Arnald
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July 01, 2013, 07:21:28 PM
 #2140

I trust no one but I have to be carefull also, I have some dollars at one exchange some bitcoins at another one and divided in 3 wallets 1 main computer, 1 virtual machine and the cellphone wallet.
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