Please help I don't want to get scammed

PirateButtercup

member

Activity: 61

Merit: 10

Quote from: jdogman on February 07, 2014, 01:05:04 PM

So this guy wants to buy 500,000 xrp (ripple) from me. He has agreed to pay with bitcoin before receiving his xrp. Is there anything I need to look out for? I know its probably a scam but I can't help but think that if he's sending me bitcoin, then he can't do a charge back or anything.

What am I missing? Thanks

Unless you're looking to make a reasonable profit for offering to help him, then I would send him to ripplewise.com or btc2ripple.com. Both accept BTC anonymously and deposit XRP directly into the Ripple account provided (after 3 confirmations). Your acquaintance can do this himself....
Cheers!

Sonny

hero member

Activity: 868

Merit: 1000

Quote from: MoneyMorpheus on February 07, 2014, 01:27:04 PM

Quote from: minerpart on February 07, 2014, 01:21:03 PM

Protect yourself by waiting 20-40 mins till you see multiple confirmations of the funds in your wallet. There is no reversal or double-spend possible after multiple confirmations.

I think it can't be reversed after 1 confirmation as well. Double spents usually are transaction without fee's and, before the transaction gets confirmed, the same coins are send with fee's to another address. Feel free to correct me if I'm wrong.

It can be reversed if the sender has a lot of computation power (51% attack).
But, in current situation, it is safe enough to have just 1 or 2 confirmation instead of 6, unless you are really doing a huge trade.

jdogman

newbie

Activity: 10

Merit: 0

Thanks for all your replies

MoneyMorpheus

sr. member

Activity: 251

Merit: 250

Quote from: minerpart on February 07, 2014, 01:21:03 PM

Protect yourself by waiting 20-40 mins till you see multiple confirmations of the funds in your wallet. There is no reversal or double-spend possible after multiple confirmations.

I think it can't be reversed after 1 confirmation as well. Double spents usually are transaction without fee's and, before the transaction gets confirmed, the same coins are send with fee's to another address. Feel free to correct me if I'm wrong.

minerpart

sr. member

Activity: 280

Merit: 250

IIIIII====II====IIIIII

Protect yourself by waiting 20-40 mins till you see multiple confirmations of the funds in your wallet. There is no reversal or double-spend possible after multiple confirmations.

MoneyMorpheus

sr. member

Activity: 251

Merit: 250

Quote from: jdogman on February 07, 2014, 01:13:03 PM

I can't really use escrow because I will need to use his bitcoin to purchase the xrp.

I was reading about these attacks https://en.bitcoin.it/wiki/Double-spending How can I protect myself completely?

You can't double spent btc if it is already confirmed Wink

jdogman

newbie

Activity: 10

Merit: 0

I can't really use escrow because I will need to use his bitcoin to purchase the xrp.

I was reading about these attacks https://en.bitcoin.it/wiki/Double-spending How can I protect myself completely?

MoneyMorpheus

sr. member

Activity: 251

Merit: 250

Just make sure the transaction gets 1 confirmation before releasing the xrp

wormbog

hero member

Activity: 561

Merit: 500

If you get payment in bitcoin up front I don't see how you could get scammed.

Just watch out for last minute changes to the deal.

backtrackit

member

Activity: 112

Merit: 10

make sure he pays first or use escrow.

jdogman

newbie

Activity: 10

Merit: 0

So this guy wants to buy 500,000 xrp (ripple) from me. He has agreed to pay with bitcoin before receiving his xrp. Is there anything I need to look out for? I know its probably a scam but I can't help but think that if he's sending me bitcoin, then he can't do a charge back or anything.

What am I missing? Thanks

Topic: Please help I don't want to get scammed (Read 792 times)