Avoid buying Bitcoin from someone all because you know them.

[Justbillywitt]

The thing is that the guy who actually bought the bitcoin might have actually known that the bitcoin was stolen but he was willing to buy it and take the risk. There are people like that, they believe that nothing will happen. But that aside, well it's not every bitcoin deal you do with people you  that ends up badly. When you know the genuine source that the bitcoin is coming from and it's not stolen, you can have a transaction with a brother or a friend. For example If someone I know is in a signature campaign where he earns bitcoin weekly wants to sells his bitcoin to me whenever he wants to sell, should I reject the deal because I know him?

[Tmoonz]

The thing is that the guy who actually bought the bitcoin might have actually known that the bitcoin was stolen but he was willing to buy it and take the risk. There are people like that, they believe that nothing will happen. But that aside, well it's not every bitcoin deal you do with people you  that ends up badly. When you know the genuine source that the bitcoin is coming from and it's not stolen, you can have a transaction with a brother or a friend. For example If someone I know is in a signature campaign where he earns bitcoin weekly wants to sells his bitcoin to me whenever he wants to sell, should I reject the deal because I know him?

I don't think the point is to reject simply because you know a certain person, the emphasis  from my reading of the concept is that knowing someone is not enough reason to making a deal with the person there should be more to it than just knowing the person, there should more in the sense that it should be someone you know that has a good and reputable character although it is hard to fully trust anyone based on character people can change at any time at one point or other unknowingly to you but that would be more better than dealing with some one knowingly to you of not having a reputation character.

[Die_empty]

I don't think that is a good advice not to buy bitcoin from someone you know that he or she has been in that business for many years with experience, buying bitcoin from such person nothing wrong about that but buying bitcoin from your enemy, I will not advice people to take such risk because it can lead you to trouble that will make you spend years in prison, there are some people that will steal government funds or institutions funds to buy bitcoin from people they don't like which is why I called them enemy just to put you in trouble because they know there is no how you can hide your identity for government agency not to trace you to collect the fund from you and still arrest you, I think you see the reason your shouldn't buy bitcoin from your enemy than to buy from people you verify their profile how long they have been in that business that make people to trust their transaction.

I will buy Bitcoin from someone I know if I know the source of their income. An example is if a member of the forum wants to sell his coins, I will gladly buy them. At this period, when criminal activities are increasing, it is risky to buy cryptocurrencies from people without verifying the source. I would prefer to buy from established exchanges, than from unverified sources.     

The thing is that the guy who actually bought the bitcoin might have actually known that the bitcoin was stolen but he was willing to buy it and take the risk. There are people like that, they believe that nothing will happen.

If he is aware that it was stolen, then he is not smart. People who engage in such transactions know how to cover their tracks to avoid linking the coin to them. 

[Fiasem20]

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

Exactly the point,buying or selling a digital asset from a friend should raise red flags. In this space,trust is a luxury no one can afford.The 25 year old was lured into purchasing the asset due to the discounted price, a classic tactic often used to peddle stolen goods.Typically, stolen items are sold at rock-bottom prices to entice unsuspecting buyers.However, the young man's greed clouded his judgment,and he failed to consider the potential risks.
However,it's not just buyers who need to be cautious; sellers also need to be vigilant.Individuals you've traded with in the past through peer-to-peer transactions might attempt to extort your assets.Therefore,it's crucial to conduct all trades on a centralized platform and keep your personal life separate.

[Justbillywitt]

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

Exactly the point,buying or selling a digital asset from a friend should raise red flags. In this space,trust is a luxury no one can afford.The 25 year old was lured into purchasing the asset due to the discounted price, a classic tactic often used to peddle stolen goods.Typically, stolen items are sold at rock-bottom prices to entice unsuspecting buyers.However, the young man's greed clouded his judgment,and he failed to consider the potential risks.

Most of us are sounding this way because it's another person that's involved and the case is now public. The truth is that many people here will not think twice about this offer if we were in the position of the 25 years old Man. It's easy to pass blame to others, but if most of us find ourselves in that situation, we will see it as opportunity to get bitcoin cheaply. We will see it that the seller don't know the actual worth of bitcoin, and we want to take advantage of the business opportunity. Many people here will jump at such opportunity without asking any questions. But am glad a thread like this is now up to enlighten people to always ask questions. But my argument is just that, we should deal with our friends if we know that they are legal and genuine. Know who you call your friends, there are honest friends who can naturally give you discount when selling stuffs to you.

[Fiasem20]

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

Exactly the point,buying or selling a digital asset from a friend should raise red flags. In this space,trust is a luxury no one can afford.The 25 year old was lured into purchasing the asset due to the discounted price, a classic tactic often used to peddle stolen goods.Typically, stolen items are sold at rock-bottom prices to entice unsuspecting buyers.However, the young man's greed clouded his judgment,and he failed to consider the potential risks.

Most of us are sounding this way because it's another person that's involved and the case is now public.

If it were my story or your story,the world would still sound the same.No one's judging or pretending to be perfect here;everyone has their own imperfect past.I simply stated a fact:as humans,don't let greed cloud your judgment. That doesn't mean you shouldn't think twice before engaging in anything that comes with potential risks.

[Su-asa]

It's not safe to sell your digital assets to someone facial but even though you want to sell to someone it should be someone you leave with in the save house because the both of you probably know each other.
Although I am not totally against the idea of selling your digital assets to someone physically but the fact that the seller have to give discounts is the main reason for the buyer to know that it's either a trap or a scam. Like the op, Bitcoin is already on a high rate, so it's obvious that something phishing might happen during the transaction.
As for me I have sold USDT to someone physically and the transaction went smoothly, although it was a small transaction because I can't risk myself selling huge amount of digital assets to someone physically. I rather sell huge amount on a CEX.

[ejikeme24]

But the reason I do not like face to face sales of bitcoin is that it can lead to physical attack. We have read on different news about different people that were physically attack all because those that attacked them know that they have bitcoin. Attack can come from anywhere, even from someone that you will not expect.

With this thing you just said now I'm convinced that face to face sales is not actually good. And yeah, with the way some people are struggling to get a portion of bitcoin means that they can do everything possible just to get it. So i would prefer trading with a different users but not just random users but someone that have a good level of trust, or better still I can reach out the AI that is being introduced in this P2P trading I believe he can recommend me to a user that have a good level of trust. This days I think P2P trading is now becoming more easier and safe as they are now bringing things that can reduce the rate of scammers in this crypto space especially in P2P trading.

Reference: https://bitcointalk.org/index.php?topic=5553857.msg65676316#msg65676316

[BitBakerr1]

OP you are right is better we avoid buying Bitcoin from people face to face because of all this issues, I find it difficult to trust people this days because people are evil and wicked, I have heard something like this too and they said the person that stole the coin and sold to the other person has denied but with more investigation the truth came out.
I don't buy things from people if I want to buy something I go to a store to buy it, I have seen a case where someone bought a car from his friend not knowing that his friend stole the car and killed the person when he was caught the car was taken away from him and he lost his Money and he was still arrested but was later released.
OP is very good you shared this story so newbies will be very careful what they do, as a newbie if you want to buy Bitcoin do it in an exchange so you won't get yourself into this kind of problems.

[kawetsriyanto]

I will buy Bitcoin from someone I know if I know the source of their income. An example is if a member of the forum wants to sell his coins, I will gladly buy them. At this period, when criminal activities are increasing, it is risky to buy cryptocurrencies from people without verifying the source. I would prefer to buy from established exchanges, than from unverified sources.

Even if we know someone's source of income and he is one of this forum members, there is no guarantee to safe purchasing the Bitcoin among the forum members. Criminal cases can come from any people, including from the forum members. Moreover if we never meet him directly in real life. I assume it will be always better to buy the Bitcoin in the reputable exchanges. Just avoid buying Bitcoin from other people that we don't really know in real life!!

If he is aware that it was stolen, then he is not smart. People who engage in such transactions know how to cover their tracks to avoid linking the coin to them.

He isn't smart and he isn't careful.
This industry is full of the risks, we can't easily trust anyone. We must always remember to do something in a safest way.

[hedgeh0g]

If anyone offers to sell their Bitcoin to you simply because they know you one way the other, don't buy from them.

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

All newbies should also be careful when buying or selling Bitcoin or any other cryptocurrency through the p2p procedure, even if it is organized by good big exchanges.

Because these are completely different meanings:
- withdrawing Fiat from the exchange to a card with a note that it was the exchange that sent this money.
- Or get money from a stranger directly by transfer to a card. Even if he passes verification on the exchange.

In the country where I live, dishonest guys can often try to launder their money this way, sending it for cryptocurrency, after which honest guys will have problems with the law.

[Versatile_choice]

If anyone offers to sell their Bitcoin to you simply because they know you one way the other, don't buy from them.

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

All newbies should also be careful when buying or selling Bitcoin or any other cryptocurrency through the p2p procedure, even if it is organized by good big exchanges.

Not only newbies alone, even those who are already in this crypto space for long can still fall for this p2p scam. So I feel that this information also need to be pass to those who have been in this space for long, everyone need to be extremely careful when buying or selling bitcoin using the P2P procedure. and I also want to agree with @Kiakia on this highlighted comment, because for someone to Walk up to you to do face to face sales means that the person may have bad intention towards you. maybe after trading with him you may see something different within a short period of time, so we shouldn't engage ourselves in such deal.

[sokani]

I don't think that is a good advice not to buy bitcoin from someone you know that he or she has been in that business for many years with experience, buying bitcoin from such person nothing wrong.

Sometimes, you think you know people until something happened and then it'd become glary to you that you don't know them. I could give you examples of people who portray themselves as successful businessmen, entrepreneurs and politicians, but they're online scammers, ripping unsuspecting individuals off of their hard earned money. No one knows this until they were caught.

So if some persons chose not to buy Bitcoin from someone who sells crypto because they don't know the source, I understand and I'd do same.

[SilverCryptoBullet]

I don't think that is a good advice not to buy bitcoin from someone you know that he or she has been in that business for many years with experience, buying bitcoin from such person nothing wrong.

People can change with time and you must avoid trusting anyone forever. Trading with anyone, even who you trust a lot, must be done carefully and a most careful approach is using Escrow. If there is a trusted Escrow service, I strongly recommend to use it rather than trade directly in person.

Sometimes, you think you know people until something happened and then it'd become glary to you that you don't know them. I could give you examples of people who portray themselves as successful businessmen, entrepreneurs and politicians, but they're online scammers, ripping unsuspecting individuals off of their hard earned money. No one knows this until they were caught.

So if some persons chose not to buy Bitcoin from someone who sells crypto because they don't know the source, I understand and I'd do same.

They can be successful people in the past, just a few days ago but unfortunately, they got big financial issues only days after a trade with you. You know, with big financial problems, people can do many things you don't think they will, and even they don't imagine they will do it too.

Trading must be safe and I don't trust anyone with what they have done individually or as a business job in the past for safety and success of my trade.

[Iamgoat]

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

Exactly the point,buying or selling a digital asset from a friend should raise red flags. In this space,trust is a luxury no one can afford.The 25 year old was lured into purchasing the asset due to the discounted price, a classic tactic often used to peddle stolen goods.Typically, stolen items are sold at rock-bottom prices to entice unsuspecting buyers.However, the young man's greed clouded his judgment,and he failed to consider the potential risks.
However,it's not just buyers who need to be cautious; sellers also need to be vigilant.Individuals you've traded with in the past through peer-to-peer transactions might attempt to extort your assets.Therefore,it's crucial to conduct all trades on a centralized platform and keep your personal life separate.

Honestly we're on this platform so we can learn from each others experiences and this matter is a serious lesson for me and every other person who listens. If someone walks up to you being it your friend or family to say I have digital assets, come and buy from me directly without having to use the p2p exchange or do not worry I will sell my digital assets to you at a giveaway price, you should already considere such statements as a red flag because sometimes shady and stolen digital assets are shared around at a ridiculously cheap prices just to quickly get people who will be ready to buy and the fear is once you're held in the centre of such transactions, you won't only lost your money but also get reported or in worse cases banned for holding stolen digital assets.

Another way we should be careful of like mentioned above is over trusting someone whom you've been having transactions with over the p2p exchange platforms, someone can use such personal or financial relationships they have built with you to scam you of your funds. So, let's always take the patience of buying and selling our assets through the legit p2p platforms to avoid being caught in the middle of a fraudulent activities in the internet, which is usually more dangerous sometimes than the physical activities since it.is oftentimes underestimated by people.

[Ishicryptic]

The thing is that the guy who actually bought the bitcoin might have actually known that the bitcoin was stolen but he was willing to buy it and take the risk. There are people like that, they believe that nothing will happen. But that aside, well it's not every bitcoin deal you do with people you  that ends up badly. When you know the genuine source that the bitcoin is coming from and it's not stolen, you can have a transaction with a brother or a friend. For example If someone I know is in a signature campaign where he earns bitcoin weekly wants to sells his bitcoin to me whenever he wants to sell, should I reject the deal because I know him?

Bitcoin was created for p2p transactions between two parties so it is not entirely correct to discourage people from peer to peer transactions but anybody that wants to do peer to peer should know about money laundering. If you do p2p transactions with a criminal the transactions can be traced to you and it becomes a criminal case where you must prove your innocence. Exchange p2p transactions should be seen as alternatives if you cannot get a reliable second party to do the transaction with. Most criminal transactions are caught in exchanges so it requires us to atleast know the source of funds of a sending address so we don't have issues win our exchange account.

[Hyphen(-)]

Not only newbies alone, even those who are already in this crypto space for long can still fall for this p2p scam. So I feel that this information also need to be pass to those who have been in this space for long, everyone need to be extremely careful when buying or selling bitcoin using the P2P procedure. and I also want to agree with @Kiakia on this highlighted comment, because for someone to Walk up to you to do face to face sales means that the person may have bad intention towards you. maybe after trading with him you may see something different within a short period of time, so we shouldn't engage ourselves in such deal.

Even though Bitcoin wasn’t designed to be traded through P2P transactions only, it was the main method of sending or selling Bitcoin that many people were using before evil-minded people started to join crypto and Bitcoin, which has made the sending and receiving of Bitcoin through P2P transactions dangerous because scammers are everywhere, and the person you are exchanging Bitcoin for fiat with might set you up, and you might be robbed, and so on. That was why the central exchanges came up with a way of using P2P transactions on their exchanges so that if you have Bitcoin, you can sell it using the exchange as escrow to avoid physical contact and also scale.

The only problem with centralized exchanges is KYC, if not, they have brought some good improvements and has curb a lot of scams related to p2p physical sell of Bitcoin because no one is trusted.

[Awaklara]

Bitcoin was created for p2p transactions between two parties so it is not entirely correct to discourage people from peer to peer transactions but anybody that wants to do peer to peer should know about money laundering. If you do p2p transactions with a criminal the transactions can be traced to you and it becomes a criminal case where you must prove your innocence. Exchange p2p transactions should be seen as alternatives if you cannot get a reliable second party to do the transaction with. Most criminal transactions are caught in exchanges so it requires us to atleast know the source of funds of a sending address so we don't have issues win our exchange account.

I think when Bitcoin is used legally as a means of transaction, the situation might not be too complicated. Service providers and goods can accept Bitcoin directly. Likewise, company employees can receive payments in Bitcoin. P2P transactions are not that complicated, we just need to know who we are transacting with. There will always be those who want to do harm, but what we can do is remain vigilant.

[ndutndut]

I don't think that is a good advice not to buy bitcoin from someone you know that he or she has been in that business for many years with experience, buying bitcoin from such person nothing wrong.

Sometimes, you think you know people until something happened and then it'd become glary to you that you don't know them. I could give you examples of people who portray themselves as successful businessmen, entrepreneurs and politicians, but they're online scammers, ripping unsuspecting individuals off of their hard earned money. No one knows this until they were caught.

So if some persons chose not to buy Bitcoin from someone who sells crypto because they don't know the source, I understand and I'd do same.

Yes. It's best to avoid buying Bitcoin from people you know or those who have been involved in the crypto world for a long time. Accidents can happen to anyone, and we never know when bad luck will strike. It's safer to buy crypto on a trusted exchange.

Besides, buying crypto on an exchange isn't difficult. Sometimes I wonder why people would want to buy crypto from someone else. The risks are so great, including fraud or other undesirable events. The crypto world is full of risks if you're not careful in making decisions about trading, investing, security, and especially buying crypto from others.
If you're planning to buy crypto from someone, it's best to cancel it, as buying crypto from a trusted exchange is safer.

[Ojima-ojo]

What do you expect when you dealing with a sensitive assets like Bitcoin and risking to meet the buyer in Person, that is a lot of risks that I will never take, considering how I value my privacy and security.

Aside the eas that come with using the exchange to sell and buy my Bitcoin, my security is also very important to me that is why I move alone and don't have physical transactions when dealing and exchanging my Bitcoin to Fiat.