Topic: Tips for local transactions - page 28. (Read 828964 times)
Pretty much common sense. If I were to ever trade in person it would be in a very public place, I personally would go to my local cafe which offers free wifi and has security cameras.
Useful info, thanks 
Thanks!! 
Very useful, thanks.
Thanks for tips. 
Thank for your tips. It is useful for me!
nice one
The intention of this topic is to help new buyers and sellers in the BitCoin community who are looking to meet up and trade locally. I've done a lot of local trades and sales over the years, so I'm hoping that my experiences can help beginners by giving them ideas on how to trade safely.
Fantastic info, thank you for providing this.
Personal safety does need to be top of mind, as is also emphasized on ShadowLife's post:
Quote
Once you received the money, you have to make sure that you don’t leave the protected public places with the money to avoid getting robbed after the deal
- http://shadowlife.cc/2012/11/secure-and-professional-bitcoin-otc-exchangesI haven't completed all that many in-person trades myself but more than once now I have been asked to sell for cash an amount of bitcoins larger than any amount I would be selling by myself. But had I previously gotten in contact with other traders in my area a larger trade amount probably could have been arranged since that would allow me to have to trade only up to my personal max level and then also there would be two or more of us present when the cash traded hands.
As far as buying bitcoins from an untrusted stranger, the risk of double spending (due to either a Race attack or a Finney attack) is significant enough to require at least one confirmation (or a Green address transfer or a service such as a LocalBitcoins "Transaction" where the funds released to the buyer would always be already-confirmed funds).
One challenge with in-person trading is with communications and coordinating the meet. Unless you are already planning on spending a couple hours at a coffee shop or wherever, make sure to specify in advance your expectations otherwise you'll often be stuck waiting for your trading partner to show, oftentimes in vain.
For a recent trade the buyer arrived on time but he needed to get cash from an ATM. It was only then that he learned that his bank account has a low maximum daily withdrawal amount, leaving me holding more bitcoins (and less cash) than I had planned. Had I confirmed that the buyer had cash in-hand before even setting a meeting time and location is something that would have saved me time, money and the resulting headache.
very helpful, thx
If video deterred crime, most crime wouldn't be captured on it. If a criminal has no reason to legitimately fear being shot, he will act with impunity.
You are suggesting lethal force versus each criminal? even the tiny ones?
Define "tiny".
If video deterred crime, most crime wouldn't be captured on it. If a criminal has no reason to legitimately fear being shot, he will act with impunity.
You are suggesting lethal force versus each criminal? even the tiny ones?
well written, thanks for taking the time.
Stickied. Great tips for local transactions, and should help to keep new users safe.
Thanks!
Thanks!
Thanks for the sticky! Really hope this advice can help everyone out!
Yes, it will help everyone especially those newbie
Thank you so much for the tips and informations here...
Most video surveillance cameras are visible, but unnoticed. Criminals are often unaware that they are being recorded.
For a Bitcoin face2face transaction, in addition to the other methods described in this thread, consider suggesting that both parties to the transaction face the surveillance camera (Starbucks, etc.) for 15 seconds before proceeding. That should increase the deterrent value.
There are some people who would not want to do that, for legitimate reasons, so use your own judgement before proceeding.
For a Bitcoin face2face transaction, in addition to the other methods described in this thread, consider suggesting that both parties to the transaction face the surveillance camera (Starbucks, etc.) for 15 seconds before proceeding. That should increase the deterrent value.
There are some people who would not want to do that, for legitimate reasons, so use your own judgement before proceeding.
If video deterred crime, most crime wouldn't be captured on it. If a criminal has no reason to legitimately fear being shot, he will act with impunity.
Try to do bitcoin transactions with individuals you don't kinow/trust in public, well-lit places. Preferably with decent video surveillance going on. I.E. Shopping mall, high end restaurant, etc.
Here's a report of a face-to-face transaction gone bad.
In this instance, a person selling headphones through Craigslist was contacted and a face-to-face trade (at a McDonalds) was arranged. Except it didn't go according to the buyer's plan and the seller left with both the headphones and the bitcoins:
I just got robbed blind of bitcoins - in person. I'm feeling like I've lost trust in the usability of the currency and looking for advice.
- http://www.reddit.com/r/Bitcoin/comments/1b89wm
Wow, that's terrible situation. Police really can't do much about it without certain knowledge. I guess legal action isn't the way here. In this instance, a person selling headphones through Craigslist was contacted and a face-to-face trade (at a McDonalds) was arranged. Except it didn't go according to the buyer's plan and the seller left with both the headphones and the bitcoins:
I just got robbed blind of bitcoins - in person. I'm feeling like I've lost trust in the usability of the currency and looking for advice.
- http://www.reddit.com/r/Bitcoin/comments/1b89wm
thank you arkadaslar
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