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Topic: What makes you trust bitcoin related services? - page 7. (Read 898 times)

legendary
Activity: 1638
Merit: 1329
Stultorum infinitus est numerus
One of the main reasons is that you can see the site's funds. It's all public. Most of the sites share their addresses, even if they don't, you can basically find it by just checking a few addresses on the blockchain. This is especially important when checking out, for example, an exchange site. If the exchange does not have even 1 BTC but is advertising themselves as the biggest and the best exchange, that should raise some flags. So, long short story. Transparency, whether they like it or not is probably my main reason.

So you want like, to be able to see the amount of bitcoins they have in their wallet, and for example statistics on how the site is doing?

Yes. The example I gave was for an exchange. The situation depends on what kind of platform you'd like to register to. If we want to go by your example, a gambling site. You'd like to see that public statistics, their hash system (provably fair), their userbase and if possible, their current bank (their main BTC address) which is going to handle the payments.
newbie
Activity: 20
Merit: 1
One of the main reasons is that you can see the site's funds. It's all public. Most of the sites share their addresses, even if they don't, you can basically find it by just checking a few addresses on the blockchain. This is especially important when checking out, for example, an exchange site. If the exchange does not have even 1 BTC but is advertising themselves as the biggest and the best exchange, that should raise some flags. So, long short story. Transparency, whether they like it or not is probably my main reason.

So you want like, to be able to see the amount of bitcoins they have in their wallet, and for example statistics on how the site is doing?
legendary
Activity: 1638
Merit: 1329
Stultorum infinitus est numerus
One of the main reasons is that you can see the site's funds. It's all public. Most of the sites share their addresses, even if they don't, you can basically find it by just checking a few addresses on the blockchain. This is especially important when checking out, for example, an exchange site. If the exchange does not have even 1 BTC but is advertising themselves as the biggest and the best exchange, that should raise some flags. So, long short story. Transparency, whether they like it or not is probably my main reason.
newbie
Activity: 20
Merit: 1
It varies depending on what type of service do they offer. For casinos, must have is the provability of the fairness of their games and their withdrawal/deposit system. Customer support is a factor too, and if they failed on this side of the service, usually it makes me want to go turn my back and just forget that they exist. Same for all the other services. If they failed on customer relations, they might as well fail on other aspects because they don’t listen to the customers’ concerns and would likely not want to change or improve what’s weong on their service.

So, for you it's mostly, like customer support?
legendary
Activity: 3542
Merit: 1352
It varies depending on what type of service do they offer. For casinos, must have is the provability of the fairness of their games and their withdrawal/deposit system. Customer support is a factor too, and if they failed on this side of the service, usually it makes me want to go turn my back and just forget that they exist. Same for all the other services. If they failed on customer relations, they might as well fail on other aspects because they don’t listen to the customers’ concerns and would likely not want to change or improve what’s weong on their service.
newbie
Activity: 20
Merit: 1
Hi,

I have some questions where I have been thinking about the past week.
Why do you trust some website/company with your bitcoins?

Let's say a bitcoin casino, what makes you deposit bitcoin?
Is it the provably fair? Does it mean you trust a site when the game is fair?
Is it the looks of the site? The amount of users there are? If there is an open chat where you can see active users?

Or something else that doesn't have a game that's fair, for example a bitcoin exchange, how do you trust them?

Overall: What makes you trust bitcoin related services?


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Another question: What does a new service need to earn your trust?
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