Topic: Trust No One - page 89. (Read 161312 times)

i know i trust my friends

I think bc is the safest way to buy sth on the internet atm.

hmmm maybe i should rethink this bit coin stuff and stick to mail instead, well i'll have to see how it goes first... anyways thanks for a heads up

I just say what other people hav too: trust is necessary when using bcoins. n

You're right to be prudent Farfie - Bitcoin can be anonymous if used correctly but too many people make rookie errors and use them in such a way that can reveal their own identity.

Probably your first hurdle is obtaining Bitcoins safely i.e via a method that's untraceable. I have been trading on the Silk Road for around 6 months now selling Bitcoins for cash to people in the Uk and Europe but you can also use your local Craigslist or similar to buy Bitcoins in a manner that can't be tracked. If you have to use bank transfer then at the very least I'd suggest using a mixing service which will make your transactions harder to trace.

This brings me to my next point which is that the Bitcoin block chain is not anonymous in the sense that it contains details of every transaction ever made. If a person's identity can be linked to a particular BTC address e.g through withdrawing funds from there to a bank account, then any Bitcoins sent to or from that address can be traced throughout the block chain. This is why it's important to obtain Bitcoins in a safe way.

Sunny point number three is that as with physical cash it's not possible to reverse a transaction in the same way you can charge back a credit card or Paypal payment. This has made Bitcoin an easy target for scammers. Silk Road operates an escrow service to try to reduce the likelihood of that happening but this has led to some dishonest people ordering goods from vendors and claiming they never arrived to received products free of charge.

Nevertheless I have faith the system can work for those people that want it to. Trust is a huge issue but as long as you deal honestly and fairly with others, by and large they'll do the same for you in my experience.

V.

My password is between 40 characters to 120 characters long. Maybe it's 64 characters long.

It's all lowercase and numbers only. No special characters. The numbers and letters alternate.

For reference, here is how they looked like:


(note: these are not the actual passwords, but I am merely showing you the construction of the ones that I use.)

Trust no one. Maybe I did put in a special symbol somewhere, or actually used UPPERCASE letters too.

Oh, stupid me, those are not my passwords, those are the logins or usernames for mtgox. My passwords are much longer.

Well the thing is, to me, bitcoin is in it's very nature, too good to be true

When I started on SR this kind of attitude used to upset me but now I'm well established there I wonder if it's only reasonable to assume that people will go with someone they know and trust.

I'm occasionally contacted by people who also want to be Bitcoin traders and it seems certain that while their intentions are good, it's just some operation they're running from their own bedroom using their own bank account which means in a few months they're going to get a visit from the nice people at the IRS or are simply going to get bored and stop fulfilling their clients' orders on time.

Naturally people need consistency when it comes to vendors so someone who has already proved their mettle is a safe bet. For people just starting out I would say think small at first - as every transaction is a chance to prove your honesty and integrity.

V.

what if there's a dispute between, say, you and me. Who has better leverage?

I think forum rep is overrated.

If you really want some good reputation, establish a #bitcoin-otc identity and make some good transaction. With otc, the trust is built by making good transactions, not by posting a lot of crap on the forum.

the most important thing is that we can't trust anyone when dealing with new member on the forum so try to deal with trusted member or old member

Good advice, especially important for paypal users.

Same could be said of anything.  There is no system that can fully insure transactions made with different currency/items.  There are some interesting use cases with loosing funds on the network with hashes that cannot be resolved by either party until they agree on a transaction, but this assumes that the involved parties would sooner work together to ensure these coins are not lost than to abandon claim.  And it can only work with purely digital transactions...

I think you can't trust anybody, but the if you want to see bitcoin grow you must trust somebody... just mentioning

I like when there is a plan. And this looks like a really good set of instructions to keep in mind. Thank you.

Coming to the topic of trust no one, I disagree, we do have to trust at some time. And trusting people offline and online is kinda similar. I think of it as getting as much information as possible on the people that you want to trust and in the end going with your gut feeling.

Great advice!

Good guide.  I don't know if anyone mentioned it here, but definitely don't trust bitcoins with Paypal!

What company? What country? Not sure what you're talking about. Remember, Bitcoin is not a company, and it's not related to any country.

And it cannot be taken down. Bitcoin is simply a world wide P2P network consisting of hundreds of thousands (and growing) random users all over the world. Exactly who or what do you think they could 'take down'?

Well, they'll have to shut down the entire internet. Not gonna happen (and if it does, regular banks will be f*cked just as much).

The legislation in countries are very harsh, if a company doesn't have some sort of legislation it will be taken down.

well I 've got my coins stolen from BITCOINICA... no more trusting... Now I need to make sum new coins..

Don't run windows.