Topic: Trust No One - page 98. (Read 161312 times)
indeed, be careful who you trust with your bitcoins!
Trust have to be earned. When doing a business with new entity it's advised to be cautious. Companies (and individual people as well) can fail from time to time for myriad of reasons. I'm yet to have any sizable sum in BTC but from what I could understand about its protocol it is safer than conventional banking ever can be. (especially considering todays political risks...)
As what mom and dad always says trust no stranger. 
Thanks
Just read this thread for almost an hour - lots of good advice, thanks!
I noticed Bitcoin people are paranoid. But yes trust yourself only, look at whats happened last year 
If it wasnt for the disasters and dishonest people / scammers the price would be higher still today.
If it wasnt for the disasters and dishonest people / scammers the price would be higher still today.
Seriously. Don't trust ...
As much as I have learned up to now is: Bitcoins make banks obsolete.
Which is a good idea, as banks are not really trustworthy, at least not on a large scale.
Now people struggle very hard to get ther bitcoins to a new kind of banks.
Obviously they can´t even trust themselves.
Well apparantly life is a game all about learning.
Some have a better strategy, some are just lucky, while others are repeating the lessons.
Thanks for this advice 
Seriously. Don't trust ...
As much as I have learned up to now is: Bitcoins make banks obsolete.
Which is a good idea, as banks are not really trustworthy, at least not on a large scale.
Now people struggle very hard to get ther bitcoins to a new kind of banks.
Obviously they can´t even trust themselves.
Well apparantly life is a game all about learning.
Some have a better strategy, some are just lucky, while others are repeating the lessons.
Seems like their is alot of scammers when it comes to bitcoins.
that is so crazy everything is lies and deception where are the thoroughly honest business world ?
You can find 100% honest business world just within yourself because you will never find anyone else 100% honest in this crual world.
that is so crazy everything is lies and deception where are the thoroughly honest business world ?
aaahhh.. Trust is factor we can do but we should not .... :-)
Specially when we talk about online wallets and using e-money usage then we should be carefull be for emking any decision.
Specially when we talk about online wallets and using e-money usage then we should be carefull be for emking any decision.
Although in the lending thread there is quite a big amount of trust.
Relying on trust sucks. Avoid it completely when you can.
Agree
I sent 6 bitcoins to Instawallet, thinking they were gone forever after 3-4 days when they didn't appear. Figured if the site was legit, people might've been loggin all these different addresses and constantly checking to see which wallets have activity. Got those six BTC though!
I'd like to add Trust no-pc either. I don't know how, but in the last 3 o 4 days somebody cracked my e-mail password and requested a password recovery from Deepbit, then changed the Reward Address... I've lost almost 1BTC, until I realize what happened.
Therefore, don't trust any other pc than yours, and eventually check your payments address...
Therefore, don't trust any other pc than yours, and eventually check your payments address...
With the recent takedown of Megaupload.com, I think trusting any third party is worth another look.
"Megaupload is based in Hong Kong, but some of the alleged pirated content was hosted on leased servers in Ashburn, Va., which gave federal authorities jurisdiction, the indictment said."
http://www.google.com/hostednews/ap/article/ALeqM5g0HiB0PrdprLqIHlwUdYtB05l2sA?docId=c93737704b504930a11fc307d67b674d
How many coins is Mt. Gox in possesion of? How big a blow would that be to bitcoin? This would be worst than the incident in which the polish exchange last year lost bitcoins due to hardware failure. In a raid such as with Megaupload.com, not only could all users of an exchange lose their bitcoins, some government would be in charge of those bitcoins.
It's a wake up call to me. I've moved most of my coins from the exchanges, but I think bitcoin as an idea would definitely face a set back unless a large number of people exercise this kind of caution.
"Megaupload is based in Hong Kong, but some of the alleged pirated content was hosted on leased servers in Ashburn, Va., which gave federal authorities jurisdiction, the indictment said."
http://www.google.com/hostednews/ap/article/ALeqM5g0HiB0PrdprLqIHlwUdYtB05l2sA?docId=c93737704b504930a11fc307d67b674d
How many coins is Mt. Gox in possesion of? How big a blow would that be to bitcoin? This would be worst than the incident in which the polish exchange last year lost bitcoins due to hardware failure. In a raid such as with Megaupload.com, not only could all users of an exchange lose their bitcoins, some government would be in charge of those bitcoins.
It's a wake up call to me. I've moved most of my coins from the exchanges, but I think bitcoin as an idea would definitely face a set back unless a large number of people exercise this kind of caution.
This is why there's a call to decentralize. Essentially the reason Bitcoin was created.
P2P Exchanges should be able to solve this problem.
With the recent takedown of Megaupload.com, I think trusting any third party is worth another look.
"Megaupload is based in Hong Kong, but some of the alleged pirated content was hosted on leased servers in Ashburn, Va., which gave federal authorities jurisdiction, the indictment said."
http://www.google.com/hostednews/ap/article/ALeqM5g0HiB0PrdprLqIHlwUdYtB05l2sA?docId=c93737704b504930a11fc307d67b674d
How many coins is Mt. Gox in possesion of? How big a blow would that be to bitcoin? This would be worst than the incident in which the polish exchange last year lost bitcoins due to hardware failure. In a raid such as with Megaupload.com, not only could all users of an exchange lose their bitcoins, some government would be in charge of those bitcoins.
It's a wake up call to me. I've moved most of my coins from the exchanges, but I think bitcoin as an idea would definitely face a set back unless a large number of people exercise this kind of caution.
"Megaupload is based in Hong Kong, but some of the alleged pirated content was hosted on leased servers in Ashburn, Va., which gave federal authorities jurisdiction, the indictment said."
http://www.google.com/hostednews/ap/article/ALeqM5g0HiB0PrdprLqIHlwUdYtB05l2sA?docId=c93737704b504930a11fc307d67b674d
How many coins is Mt. Gox in possesion of? How big a blow would that be to bitcoin? This would be worst than the incident in which the polish exchange last year lost bitcoins due to hardware failure. In a raid such as with Megaupload.com, not only could all users of an exchange lose their bitcoins, some government would be in charge of those bitcoins.
It's a wake up call to me. I've moved most of my coins from the exchanges, but I think bitcoin as an idea would definitely face a set back unless a large number of people exercise this kind of caution.
Relying on trust sucks. Avoid it completely when you can.
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