Silk Road forums

Discussion => Security => Topic started by: phubaiblues on November 01, 2011, 10:09 pm

Title: Bitcoin Scam Warning!
Post by: phubaiblues on November 01, 2011, 10:09 pm
Lately, about once a day, we get a new bitcoin seller.  They also get a few buyer accounts, and immediately post glowing positive feedback about their transactions.  Quit being naive, and giving away your money.  Use an outside exchange, like get-bitcoin.com, or mtgox, or tradehill, or at least someone who has been around awhile.

I'm getting tired of seeing "Oh I got ripped last week by "fill in the blank" ..... it's just stupid.

Reputable btc sellers aren't coming here: it's just a daily scam we can't yet prevent.  Don't buy it.  I know getting btc is one of the hassles on here: we all go thru it...and we don't get ripped.  This site is based on escrow, not somebody saying how honest they are.  BTC sellers don't provide escrow, naturally, so avoid them...quit giving away money!
Title: Re: Bitcoin Scam Warning!
Post by: deadfuture on November 02, 2011, 08:38 pm
I couldn't agree more.  To anyone new that's reading this think twice about getting your btc here, there's just no risk for the scammer and it's easy money for them!  I don't want to point any fingers but it looks like sugar mama may be the newest btc vendor and anyone using her should tread verrry carefully.
Title: Re: Bitcoin Scam Warning!
Post by: godofall2 on November 02, 2011, 08:46 pm
hate this guy or ppl who doing this. think we should ban all new buying bitcoin with moneypak or whatever. and just keep the ones who we have now as the only ones.
Title: Re: Bitcoin Scam Warning!
Post by: vanilla on November 02, 2011, 08:51 pm
Even if  you do find a legit btc for moneypak vendor you are still paying a premium for the service. Sometimes over 20% for something you could do for %5 through get-bitcoin.com. I know that buying with moneypak seems easier and more convenient and doesn't force you to learn anything about btc or how to safely navigate SR and related websites, but DAMN people. You are only doing yourself a disservice and taking a HUGE risk on getting scammed out of your hard earned drug money. Be smart, be safe.
Title: Re: Bitcoin Scam Warning!
Post by: deadfuture on November 02, 2011, 09:00 pm
hate this guy or ppl who doing this. think we should ban all new buying bitcoin with moneypak or whatever. and just keep the ones who we have now as the only ones.

I do see where you're coming from with that but I know even reputable btc vendors are praying for new reputable btc vendors to come in because they can't handle the volume.  Banning MP to BTC transactions altogether may be a better solution... or at least creating a new verification for these MP to BTC vendors.
Title: Re: Bitcoin Scam Warning!
Post by: Rook on November 02, 2011, 09:15 pm
I vote this thread get sticky'd.  ASAP!
Title: Re: Bitcoin Scam Warning!
Post by: freddieisdead on November 02, 2011, 09:48 pm
As far as using MP to purchase BTC I would highly suggest checking out bitcoin-otc. There's definitely a bit to learn at first but once you get the hang of it, it's very easy to find an honest person who will exchange with you and for much better rates than exchanging MP through SR. Also their web of trust makes it hard to get ripped off if you're being smart.
Title: Re: Bitcoin Scam Warning!
Post by: Dopeboy on November 03, 2011, 07:13 am
Is there really that much of a demand? I wouldn't mind being an exchanger, but I'm in Canada and there are no moneypak retailers in Canada AFAIK so how would I turn the moneypak into cash?
Title: Re: Bitcoin Scam Warning!
Post by: phubaiblues on November 03, 2011, 10:05 pm
Is there really that much of a demand? I wouldn't mind being an exchanger, but I'm in Canada and there are no moneypak retailers in Canada AFAIK so how would I turn the moneypak into cash?

Well, first I'd study up on the btc vendors ads on the main site, and then if you got into the different main exchanges, like Tradehill and mtgox, u'd see the different ways you can transfer one form of currency for another...up in Canada, I'm not so sure...

we do have reputable btc sellers, I've just never bought from them, and it's unfortunate that they get painted with this same brush, but my friends vouch for SumYunGuy, and if I were buying on SR, I'd probably go with him...Sugar Mama might very well be legit, but she just picked a terrible time to get started, as we'd had so many who were scammers...and how to tell the diff? 

It's hard when it's brand new btc vendors right now, since we've had so many bad ones, I can't imagine why a good one would even try, unless they have a way to verify themselves...Some way to hold off on being able to cash moneypack  until btc are in transit, a form of escrow, as now buyers are just too damned vulnerable...the worst scammer actually came thru on the first few transaction, so he could get some feedback, and then got a few thousand bucks, and laughed at people for their trust...so, lately, just a tough market...

I wish any honest btc seller good luck, and hope maybe they can come up with a way, better than just 'reputation', to ensure buyers are protected...