Author Topic: How do you know who to trust?  (Read 904 times)

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Offline Tibberon

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How do you know who to trust?
« on: January 20, 2014, 06:42:21 PM »
Hey everyone,

I am new to the whole digital currency movement and have been reading as much info as I can about it. I decided to go with mining dogecoins, mainly because they seem to be the easiest for me to mine at this point. Secondly because the community behind it seems to be more helpful and willing to answer questions. I have already got myself mining doge at this point, as well as doing what I can to get some from faucets and other sources, but I would like to purchase more. I have read through the forums for buying them as well as looked on the internet. My questions are: How do you ensure who you are trading with is legit? Are there certain individuals that the group as a whole recommend? I know even with this information I could end up losing out. But at least I can say that I did my research before committing on a whim. Thanks in advance everyone and I look forward to seeing you all around here.

To the Moon sounds like a great ride and I am along to see the fun.


Offline cownaetion

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Re: How do you know who to trust?
« Reply #1 on: January 20, 2014, 07:48:54 PM »
You can do as much research as you want but the truth is you will never know who to completely trust. Even if you did find someone who you felt was trustworthy and say you have made a few successful transactions with the seller, that does not mean they will not try to hustle you down the road (i.e., your small purchases are successful however the day you place a big order is the day they never return your message).

This forum has a "Trust" rating for every user that you can find to the left of the post, underneath their name/avatar. Click on that "trust" link will bring you to all the feedback that has been left for the seller. Obviously this is just like any other feedback you'd expect to see from another online market place (i.e. eBay). The difference here is that anyone can leave feedback at any time, no transactions are necessary.

Every user also has a "fame" rating however I cannot explain that one because I am not sure what it is my self, though I believe it is from other users that rate you (think YouTube likes/dislikes).

Even with this extra information the truth is it really isn't that difficult to falsify. So to make sure you are not going to get scammed you need to do two things: only be willing to trade with money/coins that you can afford (i.e. your coffee money, not your rent money), and use a little common sense. If possible, always use an escrow service (this is simply someone/something that acts as a middle man and makes the switch). If your using Paypal or a similar service, try making the purchases in incremental amounts (i.e. if your buying $100 worth, make it in $20 chunks so the most you would lose if the person did run off with your money was only the first $20 that you sent cause you will not send the next $20 until you received the proper coinage equivalent to that $20). It takes a little longer but it is more secure and if you are not paypal scammer (yes, buyers can also be scammers) then a trusted seller shouldn't have a problem about making money from a trusted buyer.

Good luck.
Wizard of Milk

Offline mc2

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Re: How do you know who to trust?
« Reply #2 on: January 20, 2014, 08:46:55 PM »
Do your research and use an escrow.


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