Topic: Trust No One - page 64. (Read 161312 times)
Have been scammed only once for .5btc lol, wasn't to big of a deal, but really just be skeptical all the time
I use Bitcoins only as a means to an end. A site that I need to send money to only accepts BTC, so I load up the funds needed on my Coinbase wallet, then send them away. My wallet almost always carries a 0 balance.
Holding massive amounts of money in the form of Bitcoins is a potentially very dangerous endeavor. Some folks mentioned "getting in early" on Bitcoins, which would be seeking to profit from a potentially upward shift in the exchange rate to a national currency. This is like trading FOREX, only unlike FOREX there is not an entire country backing the value of Bitcoins.
Bitcoins are only as valuable as they are secure, employed, and sought after. If Bitcoins are left behind for another form of virtual currency, and no one wants to buy them anymore, they will become worthless. If businesses and privateers stop accepting Bitcoins, they will become worthless. And if some major flaw in the security of Bitcoins is exposed, they will become worthless.
That's a pretty big risk, if you ask me - which nobody did.
Holding massive amounts of money in the form of Bitcoins is a potentially very dangerous endeavor. Some folks mentioned "getting in early" on Bitcoins, which would be seeking to profit from a potentially upward shift in the exchange rate to a national currency. This is like trading FOREX, only unlike FOREX there is not an entire country backing the value of Bitcoins.
Bitcoins are only as valuable as they are secure, employed, and sought after. If Bitcoins are left behind for another form of virtual currency, and no one wants to buy them anymore, they will become worthless. If businesses and privateers stop accepting Bitcoins, they will become worthless. And if some major flaw in the security of Bitcoins is exposed, they will become worthless.
That's a pretty big risk, if you ask me - which nobody did.
Do not trust anyone, my advice!
Generally, you need to trust someone, sometimes. You can probably trust your wife to wash your underwear.
good to know that
Do not trust anyone, my advice!
Generally, you need to trust someone, sometimes. You can probably trust your wife to wash your underwear.
Lucky for me, my first transaction buying Bitcoin online, I totally trusted a random person with a $200 moneypak. They came through and I've been a happy bitcoiner ever since 
.
I've been scammed by 2 people for about 12 bitcoin. The transactions were so small I didn't suspect fraud. Other than that, my interactions have been overwhelmingly positive. People who use bitcoin want bitcoin to work (for the most part). Have faith, but be careful.
.I've been scammed by 2 people for about 12 bitcoin. The transactions were so small I didn't suspect fraud. Other than that, my interactions have been overwhelmingly positive. People who use bitcoin want bitcoin to work (for the most part). Have faith, but be careful.
Do not trust anyone, my advice!
what can be done to provide better trust between exchanges and customers? better security? Better general information about the owner like name, if registered insured company?
Topic cannot be stressed enough.
yeah
i just recalled Mr. moon
the guy who took my 100 btc.
i just recalled Mr. moon
the guy who took my 100 btc.
@UncleBobs good question. That goes for a lot of things (e.g. used car dealer, real estate agent, friends). You just hope that they are honest.
Hi BitGirl. What I'm wondering about is the general reputation of the escrow services. To use your examples, I'd probably trust a real estate agent more than a used car dealer, because used car dealers have a well-deserved reputation for sharp practice, to say the least. Are there any escrow services that are "head and shoulders" above the others in terms of their reputation, like MtGox is for exchanges?
Anyway, technology is coming to our rescue. When Big Brother can give lie detector tests over Skype, we'll all be safe from the fibbers
www.wired.com/threatlevel/2013/01/ff-lie-detector/all/ 
@UncleBobs good question. That goes for a lot of things (e.g. used car dealer, real estate agent, friends). You just hope that they are honest.
Yes, I am sure it can be trusted!
Can escrow services be trusted?
People Shouldent trust people fullstop after all we are people 
I like this ideaology, hope bitcoin make it real
People Shouldent trust people fullstop after all we are people
Bitcoins are too easy to steal. Then when somebody has them, they're gone! Never trust anonymous people on the internet. Even people that you can ID will rip you off sometimes.
You know, IDs can be bought for Bitcoins...
I'm very surprised to realize that we can trust each other in Chinese cultural background more than you guys, though we have our blind spots and problems. 
excitement!
excitement!
Encryption is your friend! I don't think it's necessary to remind people not to keep records of their encryption keys out in the open. I guess not everybody is able to remember a 25 character string with random case, though. I actually have a couple of wallets backed up to ... gmail, s3, usenet. A copy of the encryption key in a safety deposit box helps too, if you're liable to forget whether the 14th character was an uppercase or lowercase t..
I guess it's excessive, really. It's very unlikely that anybody that would break into my home would also look for documents containing encryption keys.. And then think to use them ... or even know what they unlock. But I guess some of us are just enthusiastic about security.
I guess it's excessive, really. It's very unlikely that anybody that would break into my home would also look for documents containing encryption keys.. And then think to use them ... or even know what they unlock. But I guess some of us are just enthusiastic about security.
I am a complete noob to bitcoins, and after reading a portion of this thread, I am wondering if I am better off just sticking with cash. It's very disheartening to see how seemingly simple it is for someone to steal bitcoins from my computer. ..
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