Topic: Trust No One - page 95. (Read 161362 times)

Thanks!

I'd like to know too.

looks like this is the only way to trade bitcoins then:


photo from z1xwitch: http://z1x.dk/

simply, there is trust necessary but that can be managed to minimize your risk.   i trust an exchange for the day or two while a little bit of my funds were sent there before i do a trade.  then i withdraw.  if the exchange closes (or is forced to) the chances of me having any funds there when that happens are fairly small.

So how can one safely obtain bitcoins if there is no trust anywhere?  When the money changes hands there must be some protection?

Cool posts. I don't trust anyone here neither.

 True that bro! You can't trust no one on this forum or any forum! 

The fastest method is to use a copy of the html file from BitAddress.org
 - http://BitAddress.org
That will generate private and public key pairs in your browser, regardless of whether you are online or offline.  You can then print that out and have a paper-based wallet.  You can then import that private key into an exchange (e.g., Mt. Gox) a javascript wallet (e.g., My Wallet from http://BlockChain.info/wallet ) or with a third-party utility, into the Bitcoin client wallet.


The bitcoin-qt client will create a new wallet the first time it is launched, and it will create a pool of addresses which can be used to start receiving bitcoin payments at but you cannot spend those coins until the blockchain has caught up.

If you are wanting to create an offline-only wallet (i.e., an "air gap network" wallet) for security reasons, that is a special use-case and is described here:
 - http://en.bitcoin.it/wiki/How_to_set_up_a_secure_offline_savings_wallet

tl;dr: Bitcoin is a network-dependent technology.  The Bitcoin client is not necessarily functional to end-users without it being connected to the network.

noob question: how do I create a wallet without a network connection? You guys are full of bold and supposedly clear statements about security, but it may not be that clear for everybody! Sadly there is not a word about creating a new wallet on an official bitcoin wiki, so I can only guess I understood the pieces of information on this forum well enough...This is how I thought it works:
to create a new wallet you need to start a bitcoin-qt (or bitcoind?) and let it download the whole block-chain. Or is it not needed and the valid wallet will be created even when I install Bitcoin while offline? Well I just tried that on my second laptop: copied a bitcoin install file onto it, disconnected it from network, installed Bitcoin and checked "run bitcoin client" while clicking "finish" button. Then I checked the data folder and was surprised there is already about 350MB of data Where did this come from? Wallet.dat was also there...but no what? Is that complete? Bitcoin client is still not starting, but I see it in the task manager doing something. OK so finally the window appeared after a minute or so and is trying to synchronize with a network even when I am offline. No error message, so now tell me what should I think? Is this wallet.dat OK to use? Why is the file continuously being changed (modify time) even when there is no network connection? I guess I will now send some BTC to this wallet address, then move it to my another computer, load it in bitcoin-qt and see if the balance updates...

dont trust anyone

Is there a list in this forum for trustworthy people?

really?

But of course! You can trust them to overcharge or otherwise screw you out of your hard-earned money.

Sometimes I don't even trust myself.

Implementing widespread use of WOT would go a long way toward weeding out the casual scammers. It's still possible to game the system but it takes a lot of work. In my experience most scammers just don't want to work that hard. That's why they're scammers....

Excellent link above; Never new United States notes existed.

They were hacked a while ago, so idk.

Thanks for the advice!

How secure is Mt. gox? Are they the most secure of the online currency converters?

Nice Post, it would helpful for me for online online transactions.
thanks for sharing

Agree +1