Topic: Using LocalBitcoins.com (Read 2135 times)

we need to read all rules before doing any transaction its better and safe way many not do this and after this crying scams and cheats its not site fault

It is listed as unconfirmed because it is unconfirmable as far as the localbitcoins definition of confirmed feedback extends.

"Confirmed" feedback is feedback where localbitcoins can be certain that a transaction actually occurred (such as with their escrow service or their transaction service).
"Unconfirmed" feedback is feedback where localbitcoins can not be certain that a transaction actually occurred (such as between two people who have no contact created or where the contact has been cancelled).

I expect it to be confirmed.

I have lots of unconfirmed feedback, and lots of confirmed feedback.  Why are you upset about the unconfirmed feedback?  Would you prefer that it just be deleted?

There's nothing wrong with having unconfirmed feedback.

I have unconfirmed feedback for months and the support doesn't help 

I have done nearly 200 trades on localbitcoins and I have not had a single problem worth remembering. I have had to dispute two transactions and both were quickly resolved.

Of course, there are going to be some people that have problems. Things happen.

What kind of troubles?

is anyone having troubles with localbitcoins? i am lol

Nice release times arbitrager. Is your system automated? If so, how do you get live bank data?

Bank to bank transfer isn't safe.

The receiving side takes the blame if anything goes wrong.

In my perhaps over 100 online transactions at localbitcoins, I haven't gotten scammed once. I'd even say that I rarely even see people try (although one did try yesterday, I don't remember the case before that). The key is really just to stick to payment methods you know and if it's too good, it probably is.

The whole SS scam thing had me cracking up.  If people just took the time to read through what's on the site, they'd realize that giving that code away is the last thing you want to do.  I understand what you're saying though.  I don't think it's really a matter of their site being too complicated.  I think most people just want to jump on there and takeoff without reading through everything.  It could be out of laziness or impatience or whatever.  You'd think that people would be more careful when their own money is at stake though.

People get blinded by greed so no doubt they are at fault too. But LB's system is complicated and users don't take the time to read about it. Just see this thread for proof. And FYI I am guilty of this too. I complained to LB that my online sell ad wasn't showing up and they linked to their FAQ where it talks about the need to deposit 1 BTC.

Also LB is in a constant battle with scammers. Take that recent screenshot scam where scammers trick users into sending them screenshots of the backend where the escrow release code is shown. LB responded by hiding the release code under a link. Scammers responded by shamelessly asking their marks to click on the link before taking the screenshot!

If you read through a lot of the scam stories, you'll figure out pretty quickly that it's pretty much people not being smart or using common sense when dealing with transactions.  The way their system is setup, it's actually next to impossible to be scammed if you don't use any reversible payment methods (Paypal, Dwolla, etc).

^^ For online sales you need to have at least 1 BTC in your wallet. For in person exchanges you don't. But if you want to get rated on LB you need to use either their transaction service for in person exchanges or their escrow service for online exchanges.

Note the transaction service is not an escrow service.

For face-to-face cash exchanges?  You don't.

The localbitcoins "transaction service" is there as an option, but there is no need to use it nor is there any need to have any bitcoins in your localbitcoins wallet either.

I buy and sell bitcoins at localbitcoins regularly, and my localbitcoins wallet has 0 bitcoins in it.  Only about 10% of the people I've exchanged with have requested that I use the localbitcoins "transaction service", the rest just give me the bitcoin address from their wallet, and I send the bitcoins directly from my wallet to theirs when we meet.

It sounds like you didn't create your ads correctly.

Okay, I was under the impression I did not have to use the escrow system. If that's the case I am using the wrong service.

Thank you!

I trade on LocalBitcoins a lot. It is not clear to me what the problem is that you are  describing so I'll write a quick summary.

If you want to sell bitcoins face-to-face:

1. Send enough bitcoins in your LocalBitcoins wallet to make a few sales (most people buy $100 in a transactions, but some buy more). The amount in your wallet will affect the high limit in your ad.
1. Create a local sell ad.
2. Someone will start a transaction.
3. You agree on a time and place to meet.
4. The buyer may request that you "fund" the transaction before you meet. It rarely happens, but it only means that you reserve the bitcoins for the transaction.
5. When you meet, the buyer hands you the money, and you "fund" the transaction (if you haven't already), and you "release" the bitcoins.
6. You will get a code that you give to the buyer. This code must match the buyer's code. If it does, you are done. If it doesn't, you have done something wrong.

If the buyer wants you to send the bitcoins to different wallet, then you don't "fund" and "release". Instead the buyer gives you the money and you send the bitcoins to the buyer's wallet. Then you wait for at least one confirmation.

If you want to buy bitcoins face-to-face:

1. Create a local buy ad.
2. Someone will start a transaction.
3. They will generally ask you to respond first, to make sure you are active.
4. They will "fund" the transaction.
5. You agree on a time and place.
6. When you meet, you give the money to the seller and he releases the bitcoins to you. You are done.

It hasn't happened to me but it has happened to other people. Someone posted about it on reddit.

All sorts of things happen on LB. That is why you need to understand how it all works to avoid getting scammed. The devil is in the details.