Regarding (1), you can always reject trading with Tor/Proxy users and/or require ID verification..
Yes, you can do that and all active traders are doing that, but newbies might have a very a bad experience due to that.
Topic: [ANN] LocalBitcoins.com - a location-based bitcoin to cash marketplace - page 6. (Read 125864 times)
March 30, 2015, 09:07:24 PM
Yes, you can do that and all active traders are doing that, but newbies might have a very a bad experience due to that.
March 30, 2015, 02:46:14 PM
Could you elaborate what your main concern is? Did they state to not have a cold wallet or something? As long as they have 95% in cold wallets, I assume they will bail out anybody who looses money due to their fault.
1.They are not taking action against dishonest people - they could drastically reduce the number by banning all Tor/VPN/Proxy users and requiring ID from all users.
2.They are not working to improve their credit rating -> dealing with them may have a negative impact on your own credit rating.
3.I don't know about their cold wallet/hot wallet policy, but they still don't use multisig...
Regarding (1), you can always reject trading with Tor/Proxy users and/or require ID verification..
March 30, 2015, 11:34:56 AM
Could you elaborate what your main concern is? Did they state to not have a cold wallet or something? As long as they have 95% in cold wallets, I assume they will bail out anybody who looses money due to their fault.
1.They are not taking action against dishonest people - they could drastically reduce the number by banning all Tor/VPN/Proxy users and requiring ID from all users.
2.They are not working to improve their credit rating -> dealing with them may have a negative impact on your own credit rating.
3.I don't know about their cold wallet/hot wallet policy, but they still don't use multisig...
March 30, 2015, 09:13:38 AM
I just emptied my LocalBitcoins wallet after using them for a while, because LocalBitcoins is not doing enough to protect their users.
Could you elaborate what your main concern is? Did they state to not have a cold wallet or something? As long as they have 95% in cold wallets, I assume they will bail out anybody who looses money due to their fault.
March 29, 2015, 02:43:44 PM
I just emptied my LocalBitcoins wallet after using them for a while, because LocalBitcoins is not doing enough to protect their users.
March 09, 2015, 11:33:19 AM
How much do you trust the app though? It's not technically LBC app right, a third party made it?
They are a third party app that uses the LBTC API and I have been using the app for a year now, without any problems. But yes, you will have to trust the third party to not fuck you. March 09, 2015, 11:32:15 AM
I downloaded the app but never got around to setting it up, just seem to use my browser when using LBTC on the move.
Really it is not LBTC's fault customers try and do charge backs, it should be easy enough to prove to the bank you upheld your part of the bargain.
In this case i did not notice the user was using Tor, i normally deny people using Tor or a proxy and it would be nice if LBTC gave the option to automatically deny transactions like such, just like i can choose to have ID verification a requirement.
When you open the app for the first time it will use a browser to get your authentification to use your LBTC account. So if you aren't logged in on your phone, you will have to do that. Afterwards it's a dedicated app which doesn't use your browser. Just give it a try. Really it is not LBTC's fault customers try and do charge backs, it should be easy enough to prove to the bank you upheld your part of the bargain.
In this case i did not notice the user was using Tor, i normally deny people using Tor or a proxy and it would be nice if LBTC gave the option to automatically deny transactions like such, just like i can choose to have ID verification a requirement.
And yes, it is easy, because they have to use an invoice number when sending the money to you. That invoice number can be linked to the transaction you have done on LBTC thus making transaction reversals useless (most of the time).
How much do you trust the app though? It's not technically LBC app right, a third party made it?
March 06, 2015, 01:38:18 PM
Me too... No stupid bank wire offerings. Market still very small in my area, though
March 06, 2015, 11:00:27 AM
I downloaded the app but never got around to setting it up, just seem to use my browser when using LBTC on the move.
Really it is not LBTC's fault customers try and do charge backs, it should be easy enough to prove to the bank you upheld your part of the bargain.
In this case i did not notice the user was using Tor, i normally deny people using Tor or a proxy and it would be nice if LBTC gave the option to automatically deny transactions like such, just like i can choose to have ID verification a requirement.
When you open the app for the first time it will use a browser to get your authentification to use your LBTC account. So if you aren't logged in on your phone, you will have to do that. Afterwards it's a dedicated app which doesn't use your browser. Just give it a try. Really it is not LBTC's fault customers try and do charge backs, it should be easy enough to prove to the bank you upheld your part of the bargain.
In this case i did not notice the user was using Tor, i normally deny people using Tor or a proxy and it would be nice if LBTC gave the option to automatically deny transactions like such, just like i can choose to have ID verification a requirement.
And yes, it is easy, because they have to use an invoice number when sending the money to you. That invoice number can be linked to the transaction you have done on LBTC thus making transaction reversals useless (most of the time).
March 06, 2015, 08:21:26 AM
this is the first exchange from where i got my real money for bitcoin.i just love this site
March 06, 2015, 08:09:22 AM
If you are not satisfied with www.LocalBitcoins.com, you might like to check www.100bit.co.in. Though, for now, u need an invite to join this...
Well that is pointless for Mr joe public who does not know anyone in the circle to invite him in..... sounds great for all the black market dealers who want to cash out though
Sorry. I did not understand your statement. The site posted before that it is still under beta testing and hence only people with invitation are allowed. Before they fix all problems, they wont allow open sign up. I dont get, what black market has to do with this !!!
I told u to check as you said LocalBitcoins.com fees are higher. As per 100bit.co.in home page statement, it will take 0.01 BTC to join the platform and then 0.001 BTC for each trade, irrespective of the trade amount.
p.s. I dont understand who is deleting my post and why it is getting deleted ?
you are advertising a competing service.....
I was mainly joking, for the average person that site is not an option and for black market sellers it would be easy to share invitations between each other, bad humor.
U were talking about MyCellium. How can that be allowed then ?
March 06, 2015, 08:05:52 AM
If you are not satisfied with www.LocalBitcoins.com, you might like to check www.100bit.co.in. Though, for now, u need an invite to join this...
Well that is pointless for Mr joe public who does not know anyone in the circle to invite him in..... sounds great for all the black market dealers who want to cash out though
Sorry. I did not understand your statement. The site posted before that it is still under beta testing and hence only people with invitation are allowed. Before they fix all problems, they wont allow open sign up. I dont get, what black market has to do with this !!!
I told u to check as you said LocalBitcoins.com fees are higher. As per 100bit.co.in home page statement, it will take 0.01 BTC to join the platform and then 0.001 BTC for each trade, irrespective of the trade amount.
p.s. I dont understand who is deleting my post and why it is getting deleted ?
you are advertising a competing service.....
I was mainly joking, for the average person that site is not an option and for black market sellers it would be easy to share invitations between each other, bad humor.
March 06, 2015, 08:05:13 AM
The only way LBTC could compete would be by having a great easy to use app with a simple GUI that is easy to navigate, everyone i meet these days says they prefer mycelium to fiddling around with their internet browser and g auth codes
You could try the app I talked about above. Yes, you need to auth it first which means passwords and Gauth codes, but after that it's smooth sailing. However it's not an official app so that could put people off. I'm wondering how LBTC could prevent someone from reversing a payment. I mean they already require that people use an invoice code for a transaction which you can show your bank. That should stop almost anyone that tries to reverse a payment. I downloaded the app but never got around to setting it up, just seem to use my browser when using LBTC on the move.
Really it is not LBTC's fault customers try and do charge backs, it should be easy enough to prove to the bank you upheld your part of the bargain.
In this case i did not notice the user was using Tor, i normally deny people using Tor or a proxy and it would be nice if LBTC gave the option to automatically deny transactions like such, just like i can choose to have ID verification a requirement.
March 06, 2015, 08:04:58 AM
If you are not satisfied with www.LocalBitcoins.com, you might like to check www.100bit.co.in. Though, for now, u need an invite to join this...
Well that is pointless for Mr joe public who does not know anyone in the circle to invite him in..... sounds great for all the black market dealers who want to cash out though
Sorry. I did not understand your statement. The site posted before that it is still under beta testing and hence only people with invitation are allowed. Before they fix all problems, they wont allow open sign up. I dont get, what black market has to do with this !!!
I told u to check as you said LocalBitcoins.com fees are higher. As per 100bit.co.in home page statement, it will take 0.01 BTC to join the platform and then 0.001 BTC for each trade, irrespective of the trade amount.
p.s. I dont understand who is deleting my post and why it is getting deleted ?
March 06, 2015, 07:53:25 AM
If you are not satisfied with www.LocalBitcoins.com, you might like to check www.100bit.co.in. Though, for now, u need an invite to join this...
Well that is pointless for Mr joe public who does not know anyone in the circle to invite him in..... sounds great for all the black market dealers who want to cash out though
March 06, 2015, 07:48:50 AM
The only way LBTC could compete would be by having a great easy to use app with a simple GUI that is easy to navigate, everyone i meet these days says they prefer mycelium to fiddling around with their internet browser and g auth codes
You could try the app I talked about above. Yes, you need to auth it first which means passwords and Gauth codes, but after that it's smooth sailing. However it's not an official app so that could put people off. I'm wondering how LBTC could prevent someone from reversing a payment. I mean they already require that people use an invoice code for a transaction which you can show your bank. That should stop almost anyone that tries to reverse a payment. March 06, 2015, 06:33:57 AM
LBTC is okay if you ask me, i prefer mycelium.
...
DITO...
The only way LBTC could compete would be by having a great easy to use app with a simple GUI that is easy to navigate, everyone i meet these days says they prefer mycelium to fiddling around with their internet browser and g auth codes
March 06, 2015, 06:31:52 AM
.. if you ask me, i prefer mycelium.
...
DITO ...
March 06, 2015, 06:24:49 AM
LBTC is okay if you ask me, i prefer mycelium. Just had my first piece of LBTC fraud.
tried to buy some shopping last night, card declined, tried ATM, declined.
Spoke to bank today and a lock had been put on my account due to a reverse transaction attmept from a user in germany. My bank aksed for a screenshot of the transaction release info as proof and they would deny the request.
It would be nice if LBTC gave you more options to protect against fraudulent buyers.
The site can detect if a user is using a proxy or tor, why not also have a tick box to disallow users of these services to use adverts, just like i get to choose if i want them to have verified ID or not.
Also 1%........ when myceliumk charged they were at 0.2% which is much more reasonable and inline with exchanges.
Paying 1% on a $10,000 transaction is not cool LBTC, paying 1% on a $1000 transaction is not cool........ no offence LBTC but you must have raked in the BTC by now
tried to buy some shopping last night, card declined, tried ATM, declined.
Spoke to bank today and a lock had been put on my account due to a reverse transaction attmept from a user in germany. My bank aksed for a screenshot of the transaction release info as proof and they would deny the request.
It would be nice if LBTC gave you more options to protect against fraudulent buyers.
The site can detect if a user is using a proxy or tor, why not also have a tick box to disallow users of these services to use adverts, just like i get to choose if i want them to have verified ID or not.
Also 1%........ when myceliumk charged they were at 0.2% which is much more reasonable and inline with exchanges.
Paying 1% on a $10,000 transaction is not cool LBTC, paying 1% on a $1000 transaction is not cool........ no offence LBTC but you must have raked in the BTC by now
March 06, 2015, 04:13:58 AM
localbitcoins is the absolute best place to buy or sell btc, period
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