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Topic: He who have ears let him hear - page 2. (Read 341 times)

member
Activity: 369
Merit: 16
$CYBERCASH METAVERSE
September 16, 2021, 03:39:45 AM
#17
Ideally, transactions should be P2P to avoid third parties.
Peer to peer marketplaces are third parties that provide Escrow services for safety of both buyers and sellers.
You are right that Dex are the perfect place to trade coins without leaving behind any trace but not all fraudsters knew this, if one has nothing to hide anyways there isn't any reason to hide how you transact crypto
member
Activity: 78
Merit: 24
September 16, 2021, 03:26:20 AM
#16
Every time I make a deposit, I trade at a merchant that I often trade, so the risk will be smaller, and there has been no bad money in about a year or two. It is recommended to choose a familiar merchant.
member
Activity: 223
Merit: 13
September 16, 2021, 01:02:11 AM
#15
This is a good advice, I have people around me that always want to use my binance account to sell coins but I don't allow it because they are into frauds as well and I don't want my image to get tarnished, binance exchange have my KYC and also BVN, if anything goes wrong I will be hold responsible
member
Activity: 369
Merit: 16
$CYBERCASH METAVERSE
September 16, 2021, 12:56:18 AM
#14
Well, this is risky as hell to get yourself in trouble but when you don’t have a lot of ways, what can you do? Maybe the buyer didn’t want to go through the hassle it had to take for depositing money into the exchange and avoid withdrawal fee. Or what about the buyer wanted to buy BTC without any info shared with CEX? There can be a lot of alternatives why anyone would avoid buying BTC from exchanges.
This is exactly the reason we should be more cautious; ensure more privacy. You have coin mixer for that to leave trace. Wondering why didn’t the scammer do that LOL.
This is not a good excuse for the seller, how much can an exchange charge for withdrawal? Roughly 1$ to 5$ for converting to Fiat, I think the seller knew that he can be caught if he used exchange because of KYC verification, he intentionally sell it locally
legendary
Activity: 2268
Merit: 1379
Fully Regulated Crypto Casino
September 16, 2021, 12:51:01 AM
#13
Stop buying BTC from random people, we got centralised and decentralized exchanges for this, the reason why I'm saying this is because someone bought BTC from a scammer in my country and the scammer was apprehended somehow and the BTC he sold to this person was scammed from one Jonathan in the U.S, the buyer was arrested as well thinking they are in this together, it takes weeks before more proves where gathered to prove that the buyer don't know anything about it.
Thats a nice tip. But I doubt everyone will just buy bitcoin randomly, thats should be their risk as well. Also if I were the buyer, I am gonna check first the seller legitimacy and if he didnt have any transaction worth suspicious.  You are right, that there are centralized exchanges. But sometime buyers protect also themselves thats why choosing peer to peer method, however its also a risk if they encountered similar case like you shared.
legendary
Activity: 2310
Merit: 4085
Farewell o_e_l_e_o
September 15, 2021, 08:54:08 PM
#12
Ideally, transactions should be P2P to avoid third parties.
Peer to peer marketplaces are third parties that provide Escrow services for safety of both buyers and sellers.
hero member
Activity: 2156
Merit: 803
Top Crypto Casino
September 15, 2021, 08:52:13 PM
#11
Scammers are everywhere, you need to be cautious before and do the right thing as per the law in your country. Ideally anyone who is interested in buying Bitcoin should buy it from a reputable exchange but if your friend is selling you Bitcoin you would always believe in your friend. In my opinion that individual who bought the Bitcoin is not a fault. It is just a bad luck that he bought it from a scammer.
legendary
Activity: 2576
Merit: 1860
September 15, 2021, 08:29:08 PM
#10
I'm afraid there is actually no difference at all. The scammer could have sent the BTC to Binance or other exchanges to sell. BTC in Binance and other centralized and decentralized exchanges are not guaranteed to be clean. There is no way we could tell whether the BTC we are buying from centralized and decentralized exchanges are stolen or not unless we are buying virgin coins.

Ideally, transactions should be P2P to avoid third parties.
hero member
Activity: 3024
Merit: 680
★Bitvest.io★ Play Plinko or Invest!
September 15, 2021, 06:09:00 PM
#9
There are those that are fine to do real life and meet up trades. There's no way to stop that.

As for those, they have reasons for it like they are not really on the technology and they just want someone to help them purchase who actually owns it.

But true to that when someone wants to buy, there are the exchanges.
copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
September 15, 2021, 03:49:21 PM
#8
You could somehow put some source(s) of the news if it's available on your country's media outlet's website, coz the way of how the scam happens is confusing to us who just read your statement.

While there are lots of pros of buying/selling to p2p but the cons are still there since the money/fiat used to buy can be reverse depends on what method they use but the bitcoin/crypto sent cannot be reverse. That's why its more safety to buy/sell to the one you knew.

But buying/selling on cex, has more pros too in terms of ease of use and convenience, but in return you need to give you personal information which is kinda cons too.
legendary
Activity: 2184
Merit: 1302
Playbet.io - Crypto Casino and Sportsbook
September 15, 2021, 03:33:03 PM
#7
Stop buying BTC from random people,
Who even buys Bitcoin from a random person they do not know and cannot get hold of, you can only do that when you're transacting on an exchange, if you're not going through an exchange, you'll have to somewhat know the person or must have met them on a platform, like bitcointalk for example and such person must have an untainted reputation before you can go on and buy Bitcoin from him/her.

The thing is, if you do not have a trusted buyer or seller outside an exchange, it's much better you carry out your transaction on an exchange, but it's going to come at the price of your privacy.
legendary
Activity: 2352
Merit: 6089
bitcoindata.science
September 15, 2021, 02:32:06 PM
#6
Stop buying BTC from random people, we got centralised and decentralized exchanges for this, the reason why I'm saying this is because someone bought BTC from a scammer in my country and the scammer was apprehended somehow and the BTC he sold to this person was scammed from one Jonathan in the U.S, the buyer was arrested as well thinking they are in this together, it takes weeks before more proves where gathered to prove that the buyer don't know anything about it.

Instead direct your friends to binance or other exchanges to buy coins cos you don't know what your friends are doing behind the close door.

It is a good option to be able to buy bitcoin from centralized or decentralized exchanges, specially if we want to sell/buy to random people.

However, the most amazing about bitcoin protocol is that we are allowed to sell p2p, without any intermediary. Ofc it is dangerous to sell to a random person, because he may be a scammer. But we can sell to people we know.

Being able to sell to p2p to people we know, or we just met, is amazing. There are more honest than dishonest people in this world, and being able to decide to who we can sell/buy is amazing. We cannot do that with tradicional financial assets, like stocks. We have to use exchanges.

I think a random person in the internet is more suspicious and more likely to be a scammer than someone that you just met in your real life, as there a lot of scammers hiding behind the computer.
legendary
Activity: 2744
Merit: 4065
September 15, 2021, 02:31:37 PM
#5
If you have a way to buy bitcoin legally and proof of payment using one of the central platforms in your country, then the best option is.
Bitcoin and other cryptocurrencies are easy to track so you may end up with a problem buying from random people although using a good mixing service will be enough to solve such a problem.

When I talk about the currency mixing service, I do not mean services like coinjoin because it may lead you to more problems.
legendary
Activity: 3038
Merit: 1104
This is what I do. I drink and I know things.
September 15, 2021, 12:57:52 PM
#4
Stop buying BTC from random people, we got centralised and decentralized exchanges for this, the reason why I'm saying this is because someone bought BTC from a scammer in my country and the scammer was apprehended somehow and the BTC he sold to this person was scammed from one Jonathan in the U.S, the buyer was arrested as well thinking they are in this together, it takes weeks before more proves where gathered to prove that the buyer don't know anything about it.

Instead direct your friends to binance or other exchanges to buy coins cos you don't know what your friends are doing behind the close door.

Even if this is the case and everything is how you say it, theoretically (but more difficult due to the KYC?) the same thing can happen if the scammer uses an exchange to sell them. Authorities will accuse the exchange because someone sold through them stolen BTC. Or not? Undecided
full member
Activity: 378
Merit: 135
September 15, 2021, 12:45:20 PM
#3
One good reason why people choose not to buy crypto from centralised exchanges is to ensure their privacy. Centralised exchanges require kyc for p2p traders. The buyer received the Bitcoin in a CEX I think that's why the police got to him
hero member
Activity: 1358
Merit: 851
September 15, 2021, 12:34:23 PM
#2
Well, this is risky as hell to get yourself in trouble but when you don’t have a lot of ways, what can you do? Maybe the buyer didn’t want to go through the hassle it had to take for depositing money into the exchange and avoid withdrawal fee. Or what about the buyer wanted to buy BTC without any info shared with CEX? There can be a lot of alternatives why anyone would avoid buying BTC from exchanges.
This is exactly the reason we should be more cautious; ensure more privacy. You have coin mixer for that to leave trace. Wondering why didn’t the scammer do that LOL.
member
Activity: 369
Merit: 16
$CYBERCASH METAVERSE
September 15, 2021, 12:16:55 PM
#1
Stop buying BTC from random people, we got centralised and decentralized exchanges for this, the reason why I'm saying this is because someone bought BTC from a scammer in my country and the scammer was apprehended somehow and the BTC he sold to this person was scammed from one Jonathan in the U.S, the buyer was arrested as well thinking they are in this together, it takes weeks before more proves where gathered to prove that the buyer don't know anything about it.

Instead direct your friends to binance or other exchanges to buy coins cos you don't know what your friends are doing behind the close door.
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