How to Mine Bitcoins - wikihow

Some Basics Of Bitcoin

For someone not familiar with Bitcoin, the first question that comes to mind is, "What is Bitcoin?" And another common question that is often asked relates to the Bitcoin price. It started out a under 10 cents per Bitcoin upon its introduction in early 2009. It has risen steadily since and has hovered around $4000 per Bitcoin recently. So regarding Bitcoin value or the Bitcoin rate this is a most remarkable appreciation of value and has created many, many millionaires over the last eight years.
The Bitcoin market is worldwide and the citizens of China and Japan have been particularly active in its purchase along with other Asian countries. However, recently in Bitcoin news the Chinese government has tried to suppress its activity in that country. That action drove the value of Bitcoin down for a short time but it soon surged back and is now close to its previous value.
The Bitcoin history chart is very interesting. Its creator was an anonymous group of brilliant mathematicians (using the pseudonym Satoski Nakamoto) who designed it in 2008 to be "virtual gold" and released the first Bitcoin software in early 2009 during the height of the USA economic crisis. They knew that to have lasting value, it like gold had to have a finite supply. So in creating it they capped the supply at 21 million Bitcoin.
Bitcoin mining refers to the process by which new Bitcoin is created. With conventional currency, government decides when and where to print and distribute it. With Bitcoin, "miners" use special software to solve complex mathematical problems and are issued a certain number of Bitcoin in return.
A question that then arises is, is Bitcoin mining worth it. The answer is NO for the average person. It takes very sophisticated knowledge and a powerful computer system and this combination of factors makes it unattainable for the masses. This applies even more to bitcoin mining 2017 than in past years.
Many wonder, who accepts Bitcoin? This question gets asked in various ways, what are stores that accept bitcoin, what are websites that accept bitcoins, what are some retailers that accept bitcoin, what are some places that accept bitcoin and where can I spend bitcoin.
More and more companies are beginning to see the value of accepting cryptocurrencies as a valid payment option. Some major companies that do are DISH network, Microsoft, Expedia, Shopify stores, Newegg, Payza, 2Pay4You, and others.Two major holdouts at this time are Walmart and Amazon.
Ethereum is the strongest rival to Bitcoin in the cryptocurrency market and many wonder at the question of Bitcoin vs Ethereum. Ethereum was created in mid-2015 and has gained some popularity but still ranks far behind Bitcoin in usage, acceptance and value.
A question that often comes up often relates to Bitcoin scam. This author has a friend who made a purchase from a company that promised 1-2% growth per day. The company website listed no contact information and after a couple months the website simply vanished one day and my friend lost all the money he had invested which was several thousand dollars.
One has to know how to buy Bitcoins, how to purchase Bitcoin or how to buy Bitcoin with credit card in order to get started. Coinbase is a very popular site to do this. Their fee is 3.75% and the buying limit is $10,000 per day. This would probably be the easiest way to buy bitcoins.
Others would like to buy Bitcoin with debit card. Coinbase also provides this service and has clear step by step instructions on how to proceed with either your debit or credit card.
There are those who would like to buy Bitcoin instantly. This can be done at Paxful, Inc. and can be done through W. Union or any credit/debit card.
Other common questions that come up are what is the best way to buy Bitcoins, the best way to get bitcoins or where to buy bitcoins online. The easiest way is probably to purchase it through a digital asset exchange like the previously mentioned Coinbase. Opening an account with them is painless and once you link your bank account with them you can buy and sell Bitcoin quite easily. This is quite likely also the best place to buy Bitcoins.
One must know what a Bitcoin wallet is and how to use it. It is simply the Bitcoin equivalent of a bank account. It allows you to receive Bitcoins, store them and send them to others. What it does is store a collection of Bitcoin privacy keys. Typically it is encrypted with a password or otherwise protected from unauthorized access.
There are several types of digital wallets to choose from. A web wallet allows you to send, receive and store Bitcoin though your web browser. Another type is a desktop wallet and here the wallet software is stored directly on your computer. There are also mobile wallets which are designed for use by a mobile device.
A question that occasionally comes up is that of Bitcoin stock or how to buy Bitcoin stock. By far the most common way to proceed in this area is to buy Bitcoin directly and not its stock.
There is one entity called Bitcoin Investment trust which is an investment fund that is designed to track the market flow of Bitcoin. Some analysts however are calling this a risky way to become involved in this marketplace.
The Bitcoin exchange rate USD is a closely watched benchmark both on a daily basis and long term over the last 8 years since its introduction to the world's financial marketplace. A popular company to receive the most current rate in Bitcoin valuation is XE. They show Bitcoin to USD valuation and also the complete Bitcoin price chart, the Bitcoin value chart and the Bitcoin to USD chart. If you ask, "How much is one Bitcoin?" you will always know from their continuously updated charts.
Similar questions that come up in this area relate to the bitcoin rate history, the bitcoin price chart live, the bitcoin to dollar exchange rate, the bitcoin dollar chart and the bitcoin 5 year chart. The previously mentioned website, xe, is also a good source for answers to these questions.
Regarding Bitcoin cash, ie. to get USD from selling Bitcoin, Bitwol is one company that enables you to do this. WikiHow is another company that will take you through this process.
submitted by shomesrobery to BestBitcoinCasinosa [link] [comments]

The Mandela Effect (Part 4 – The Rationalist Cult Member)

This is a continuation of the Mandela Effect story. For the introduction, click here.
How did you first become aware of the Incident?
Do you believe in coincidences?
Um, what?
There’s a system called Bayesian statistics. It’s a mathematical procedure that applies probabilities to statistical problems. This allows people to update their beliefs in the evidence of new data. For example, if somebody beats the stock market once, we might say they got lucky or it was a fluke occurrence. If somebody beats the stock market five times in a row, we would say that they have got some advantage or technique that works better than everybody else, because the chance of beating the stock market five times in a row by pure chance is pretty slim.
I’m not sure how this relates to the Incident.
That’s because you’re not thinking in terms of Bayesian probabilities. The Incident plays havoc with probability. Things that we might consider the unlikeliest of scenarios – like Trump winning – suddenly start happening all the time. Suddenly the weirdest and most outlandishly random things become normal day-to-day occurrences. Like the number 21, or the colors.
Wait, I sound crazy, don’t I? (Laughs) Sorry, I’ve been told that’s a by-product of spending too much time around the Incident. I’m not crazy, I assure you. It’s just that when you see this kind of… reality distortion, for lack of a better word, it’s a little unsettling. Let me start from the beginning.
We found the subject online, as you undoubtedly heard from (the Silicon Valley Mogul). We listed his predictions out. Understand that at this point, we simply thought he was a newly discovered super forecaster. The purpose of listing his predictions was to quantify accuracy. One of these predictions involved Bitcoin. His prediction was that in approximately five years, Bitcoin would collapse. That sounded strange to me, so I crunched the numbers to see what might possibly happen in five years. It turns out that five years from his predicted date is when the last Bitcoin was expected to be mined. You see, Bitcoin was designed to have a finite limit, with each bitcoin being harder to mine than the Bitcoin before it. This limit was intended to artificially inflate the currency, giving a “first mover” advantage to the people who bought into Bitcoin first. In investment terms, the incentives of Bitcoin seem designed to trigger an early adopter gold rush. So apparently our anonymous super forecaster figures that once the last bitcoin is mined, nobody outside of the bitcoin owners will have any incentive to accept the currency, and the speculative bubble will pop, similar to the Dutch tulip mania of 1637. That didn’t strike me as particularly unusual, until we found out about the subject’s odd preference for the number 21 – their calling card, if you will. Do you know what the maximum number of bitcoins is? 21 million. It led me to wonder if perhaps the subject had some involvement in the creation of bitcoin, since he majored in computer science in college and had some background as a former programmer. Could he have indirectly influenced the creator of Bitcoin? It turns out that there’s no way to be sure, since the creator of Bitcoin is completely anonymous and untraceable.
Once I noticed that, other coincidences started to pop up, all involving the number 21 in some way. For example, the subject had predicted early in the Democratic primaries - in his usual shifty unprovable way involving typing and deletion - that Biden would be President Trump’s most dangerous foe. Subsequent to this prediction, Trump made the historic phone call to the Ukraine that led to his impeachment. You know that the first day of Trump’s impeachment trial was January 21st – isn’t that an interesting coincidence? And wasn’t Trump’s first phone call to the Ukraine also on the 21st? These coincidences started to add up in eerily improbable ways, and I found myself a bit reminded of the story of Macbeth.
There’s more. Supposedly, the subject spent a lot of time on a Reddit forum known as dramawhich was also started on the 21st. I started to wonder if the subject had not just predicted these events, but was also somehow causing them. If so, it would have taken unparalleled planning ability to be able to coordinate these events so far ahead of time.
Then the color thing happened, and my whole perspective changed. One singer seemed to be trying particularly hard to get the attention of the subject by creating music videos with the colors that he had specified. The subject said “Why try so hard to signal to me in the present? Just look into your past, and you’ll already see your own future staring right back out at you.” I looked at her music videos, and I realized that a lot of the previous music videos she had made already used the colors that the subject referenced, even though they were dated from before the subject had ever mentioned the colors. It was as if on some subconscious level, this singer had known about the colors retroactively. Once I realized this, I started to examine the subject’s behavior more closely, looking at past events as well as the future. He liked to visit a nearby cemetary a lot, and while there, our cameras caught him reciting a “spell” in front of a tombstone made of rose quartz. It turns out that there were a lot of those rose quartz tombstones in that cemetary – a suspiciously high amount. Upon further research, it turns out that the reason for these rose quartz graves was because of a hurricane that had ripped through New England in 1938 – on September 21st. That was when my worst suspicions were confirmed. Somehow, the incident was affecting time. Had the gravestones always been rose quartz? Or did the spell make the hurricane happen 80 years ago, and so our memories were changed to fit with the new timeline? Ask yourself this – if somebody sent a single photon back in time and created a butterfly effect that altered history, how would you know?
But surely if time was being altered, somebody would have noticed it, right? Well, it turns out that there’s actually quite a lot of people who say that they’ve noticed alterations to the timeline – it’s just that the rest of us don’t believe them. We laugh at them and call them crazy. Hell, a few years I was one of the people laughing at people like that. Well, who’s laughing now? (Laughs hysterically)
What is your interpretation of the Incident?
At one point, the subject seemed frustrated by our attention. “This has all happened before, and you idiots react exactly the same way each time,” he said. What if that’s accurate? History contains countless stories of witches and wizards. Today we laugh at our ancestors for believing in silly stories about magic and faeries, but rationalists and Silicon Valley executives talk quite seriously about the possibility that we are living in a simulation, and that one might be able to partially hack the “user permissions” of reality itself. What if it’s the same thing?
Imagine that you’re some sort of extradimensional being with the ability to hack this “reality matrix” in a few unique ways. According to the subtext of the Spellbook – which we have been studying very carefully - these things don’t have bodies: instead, they manifest their consciousness to a limited extent in gifted people’s psyches. That sounds a lot like reincarnation to me. How long could such a creature live? Maybe a short time. Maybe forever. We know these things like to keep a low profile, but they aren’t perfect at it. We discovered this one by accident, and in response, it rapidly created a religious cult to defend itself and started distorting reality to advance its goals. Surely this could have happened before. Why are we so certain that this is a new phenomenon? Maybe a lot of the other “secret societies” and “magical orders” that existed throughout history started in exactly the same way. Somebody noticed one of these creatures doing something inexplicable, they reacted to defend themselves, and next thing you know we have a secret cult of influential people all learning magic from their new extradimensional mentor. In other words, exactly like what is starting to happen now. It’s like this thing didn’t even bother to change its MO. (Laughs wildly.) And hey, why would it? Some things are so well optimized that they hardly ever need to change. They go through existence unchanged by evolution because they are already perfectly evolved.
What part of the Incident would you categorize as paranormal or outside the bounds of understanding?
Haven’t you been listening? Pretty much everything about the incident defies explanation. We have prophecies coming true, clairvoyance, strange psychic dreams, vast conspiracies, strange transhuman cults, and fringe science. I know what you’re thinking: I was in this from the start, so supposedly I was one of the people most heavily impacted by the mental effect of the Incident. But the truth is that the only thing I was impacted by is the understanding that our entire understanding of reality is a lie. Who wouldn’t be impacted by that?
submitted by SocratesScissors to scarystories [link] [comments]

Zcash4win & Zcash4mac MEGATHREAD

This thread is for users to find information that is spread across many threads since zcash4win and zcash4mac are now depreciated.
What happened:
David Mercer the developer who worked on zcash4win and zcash4mac has decided stop allowing downloads of these (which are stuck on old versions) so it doesn't confuse new users since they not up-to-date. David is not part of Zcash Company and his software is open source. The only "Official" Zcash software is the Linux version.
Why
Rather than continue to update the zcash4win and zcash4mac code he has decided to create new wallet/node software from the ground up so it will be a better codebase/GUI and easier to update for the future. The new version will be called "winzec" and available at winzec.com when it is done.
What does this mean for zcash4win and zcash4mac users?
If you are currently running zcash4win or zcash4mac you don't need to do anything. The zcash4win and zcash4mac are just not available to download, they will continue to work until the Hard Fork expected in a few months.
Are the funds I have in zcash4win or zcash4mac lost?
No, remember the way all Blockchains like Zcash and Bitcoin work is that coins are on the Blockchain at all times. Your wallet has the Public and Private keys that allow you to spend from the addresses you control.
Help my wallet won't start!
Since the zcash4win version is version 1.0.12 (and the latest version is 1.0.15) you need to add disabledeprecation=1.0.12 to the configuration file as explained in this thread: https://forum.z.cash/t/required-config-change-for-zcash4win-1-0-12/26632
There is a Video of how to do this Here: https://youtu.be/VT06Nh6TTzw
This will keep the node from auto-depreciation and allow you to still use it until a the new version comes out or the Hard Fork when you will need to switch wallets.
If you do the above steps and it still won't sync you may have to reindex your chain:
Open a Command window and try:
C:\Program Files\zcash4win\app\zcashd.exe -reindex -daemon=0
NOTE: The above line is just an example and will need to be tweaked depending on your computers users/app location/etc..
If you are not familiar with how to run something from a Command line please see this tutorial: https://m.wikihow.com/Run-a-Program-on-Command-Prompt
What if I want to switch wallets?
To switch wallets you first need to determine if you want to use or have funds in a private address.
If you don't have funds in a private address and don't want to use private addresses then you can transfer your funds to many other wallets like Jaxx or a hardware wallet like a Ledger Nano.
I have a list of wallets here: https://www.zcashcommunity.com/wallets/
If you do have funds in a private address and don't want to send them to a transparent address read on:
Step 1 is setting up a new full node. You can install the Zcash Official Linux Client via this guide: https://github.com/zcash/zcash/wiki/1.0-User-Guide
There are several Videos on how install Zcash on Linux here:
https://youtu.be/5ahQZZYcntQ https://youtu.be/9-P7IHC7d-o https://youtu.be/noiPWhPT6sk
I have an very old written step-by-step tutorial about how to set up a VM and install Linux & Zcash here: https://minezcash.com/how-to-mine-zcash-part1/ (just ignore the last "mining steps)
Step 2 Is once you have a new Node running you have two choices: You can generate a new address to send the funds to the new wallet or transfer the wallet.dat file to the new node.
Instructions to get a backup of your wallet from zcash4win are here:
https://youtu.be/JGtpUnHTf2w
You can use that wallet.dat to restore your funds to any full node wallet Linux Windows or Mac.
The best part about running a the official client is that you can update as soon as an update is available directly from the Zcash developers! No more waiting for third party developers to push an update.
While you are here, take a second to backup your wallet.dat file to somewhere safe, preferably offline or on a separate computeUSB so in case of disaster you won't lose everything.
Please feel free to post questions in this thread, new threads on this subject will be closed and re-directed to this thread.
submitted by minezcash to zec [link] [comments]

Trouble with Mining Helper

A visual guide to opening ports to mine using Bitcoin 1776 software
https://imgur.com/a/gQqtpyw
This won't be a long (or sufficient tutorial) because this can become complex. The current BROADCAST block is 530515. However, an at home user has mined a PRIVATE block of 530517. In order for this to be accepted by the main chain, they must 'broadcast' their block.
This is easiest to do using a VPN type of service. One solution is:
https://www.supremevps.com/
And get their cheapest VPN offering 2 CPS / 2 RAM, and then manually request an upgrade to add 200 GB of storage.
Another option is:
https://zeronehosting.com/
They are a data hosting VPN service (by default) but their computers are so slow it will be challenging to mine, even at this very low setting.
Either option will run about $360 / year or $30 a month. The advantage of Supre is that they use Solid State Drives, which sync in about 2 days. Zerone uses Hard Disk Drives, which sync in about 2 weeks. Either option will work for hosting a full node, but only the first option will be reliable to mine with, which mines a block about every 2 hours (if you are diligent).
You can also mine from your Home Computer, but this is more challenging as you MUST open up port 6703. With a "Windows Server" machine, this is fairly simple but requires the added step of Configuring the firewall to permit Bitcoin 1776 connections to go in and out.
To check if your port is open, you can try:
http://ismyportopen.com/
Or
https://bitnodes.earn.com/
(not sure if this will work past the point of the fork)
This is the difference between a Listening Node and a Broadcast node. A listening node can be a full node, but will never transmit block data out. It only receives blocks in. It is unsearchable, unconnected to the network, beyond the IP addresses it manually enters (or is added to it via software, seed nodes). A broadcast node IS searchable, and every other node can connect to it. If you are doing this from your home computer, this can create the 'attack vector' of getting dos'd as your IP address is exposed. This is a remote risk, and not one I'd worry about, but something to be aware of. If you use a VPN service, it's not a problem.
You must run a full node to mine blocks.
Personally, I have not been successful (or maybe just barely after much trial) in opening up my home ports. However, there are two basic steps:
Configure Windows Firewall to allow Bitcoin 1776 to get in and out.
Configure your Router / Modem to allow Bitcoin 1776 or Port 6703 to be open and connected to the internet. This is typically referred to as "Port Forwarding" but sometimes "DMZ".
However, you can have other firewall type software, your ISP could block it, or something could go wrong and diagnosing the problem can become challenging.
OK, so if you have mined Bitcoin 1776 blocks and do NOT want to become de'synced from the network, you MUST broadcast those blocks to the network. If the network mines more blocks which are broadcast, then your blocks will become invalid. I will hold off on personal mining until Sunday or Monday to allow time for the private miner to attempt to open up their ports (obviously I can't prevent others from mining, but this may be a low risk).
If you become desyned from the network you can either wait until the network passes your blocks, in which your blocks will become orphaned (and you will not receive credit), or you can use the "invalidate" command to reset your blockchain to some specific point. As we currently do not have a public block explorer, this may become challenging, however you can easily invalidate up to the forked point, and then resync the last 15 blocks or so within minutes, once properly connected (sometimes this take several attempts, invalidating, revalidating, etc - but is a relatively fast process and can be accomplished within an hour or two).
How to resolve becoming desynced:
https://www.reddit.com/Bitcoin1776/comments/9bkybf/bitcoin_1776_software_ready_to_mine/e7431u6/
I will add some more tutorial language, but this should be enough to give you a starting point for diagnosing problems. Thank you,
Bitcoin 1776 Team
How to open up your ports (with a Windows Server computer this is easy, harder for a Personal Windows, home use machine):
https://www.wikihow.com/Open-Ports
Imgur Album
https://imgur.com/a/gQqtpyw
submitted by Bitcoin1776 to Bitcoin1776 [link] [comments]

Absolute noob questions

Hello! I have a decent gaming computer (running win10 Pro) with an AMD R9 390 card in it that spends most of the day not doing anything.. I was thinking about trying my hand at mining with it. I'm generally pretty technically literate (sys admin), but completely new to mining. I've read some stuff on wikihow, but most of the links are outdated. I checked for pinned posts here and on bitcoin and didn't find enough info to really point me in the right direction..
So now I ask.. How do I get started in this? Is it a waste of time? I have read some about mining pools, but I don't understand if I can join a pool with just my PC, or if I need official mining hardware? Am I better off mining independently? Am I just wasting my time?
Thanks in advance for any answers!
submitted by eckadagan to BitcoinMining [link] [comments]

Don't we love our miners folks?

Thank You to all the miners that are choosing the right way forward for bitcoin. Bitcoin Unlimited represents an emergent consensus that helps all users of bitcoin.
It helps miners by allowing them to create larger blocks and include more transactions, earning them more fees. It places the control of blocksize in the hands of the market, where it belongs. Supply and demand forces acting on miners will decide how large blocks are, not proclamation by bitcoin core. The more people are able to use and spend Bitcoin, the higher the value for everyone, which improves mining profits. Ultimately, the success of Bitcoin lies with its ability gain mainstream adoption by merchants, customers, and businesses. This will not be possible with a scarce block space fee market model, due to expensive transaction fees.
It helps consumers by ensuring that blocks can expand naturally to a viable size so that everyone can place transactions on-chain, without paying massive fees, or waiting hours for confirmation. Bitcoin's 10 minute block time is already quite long compared to altcoins, so we cannot afford to have even further transaction delays if we want bitcoin to be viable at the point of sale.
It ensures that the network can scale into the long term, by enabling larger transaction throughput. Bitcoin cannot survive and thrive on 7 transactions per second, let alone compete with altcoins offering even higher transaction throughput and no transaction fees, such as Steem. To remain the reserve currency of the cryptosphere, we have to offer a superior service. Bitcoin will be eaten alive if we cannot adapt, evolve, and improve to keep up with our many competitors.
Bitcoin Unlimited is the way forward to end the blocksize debate once and for all. The answer is let the market decide what the blocksize should be. There will be no more need for bitcoin to hard fork everytime blocks start to fill up. Segwit is a bandaid solution for the next 6 months. Bitcoin unlimited is a flexible solution for the next 50 years. It better that we get this issue sorted now, rather than later. If we can solve this problem quickly and cleanly, the value of Bitcoin is sure to take this positively.
This solution represents a peaceful transfer of power from the secretive, exclusive, and entrenched bitcoin core team back to the regular users where it belongs. No longer will we be dictated to about how large blocks can be. No longer will we be held in long confirmation mempools to protect the business interests of Blockstream. No longer will we stand for massive transaction fees that price out mainstream users. No longer will we be censored by vested interests. Bitcoin is for everyone, and the time for larger blocks is now.
Take Action:
Users:
Run a Bitcoin Unlimited full node:
https://www.bitcoinunlimited.info/download
Once synchronised - ensure that you have port forwarding on port 8333 activate to help seed the blockchain to other nodes:
https://bitcoin.org/en/full-node
http://www.wikihow.com/Set-Up-Port-Forwarding-on-a-Router
Once set up, you can verify that your node is publicly reachable with:
https://bitnodes.21.co/
Read the Bitcoin Unlimited articles of Federation that outline the democratic guiding principles of the group:
https://www.bitcoinunlimited.info/articles
Miners:
Direct your mining power to pools that support Bitcoin Unlimited:
https://www.viabtc.com/
https://slushpool.com/home/
https://gbminers.com/
Read viaBTC's plan for a safe hardfork:
https://medium.com/@ViaBTC/miner-guide-how-to-safely-hard-fork-to-bitcoin-unlimited-8ac1570dc1a8#.b9pjtvsex
[Essentially we signal BU until we have 75% of hash power, then we wait two weeks to ensure market consensus and stability, then we start mining and accepting 2MB blocks.]
Satoshi's vision of open, borderless, peer to peer electronic cash is more powerful than any one person, any one group of people, and certainly more powerful that bitcoin core's attempts to stifle its unstoppable growth. Bitcoin is more than software, it is a movement. Each and every one of us has a part to play. If we can throw off bitcoin core and move to an open system of decentralized emergent consensus based governance, we can truly do anything. Bitcoin is more than one software client, it is a protocol that can be implemented in a multitude of different ways. The more choice users have, the better our chances of success in mainstream adoption. Let there be a multitude of clients that we vote for with our hashing power. We cannot allow the most powerful peer to peer network ever created to be manipulated and gatekept by a nepotisitc cartel that refuses to listen or compromise. We need a client for the people.
Bitcoin Core: You're fired.
To all Bitcoin Unlimited Miners: You are appreciated, and supported. The silent majority is on your side.
My name is Harrison Mclean, and I support Bitcoin Unlimited. Who's with me?
(Edit 1 - removed unnecessarily large images)
submitted by Dahaz159 to btc [link] [comments]

I just created a WikiHow article called Buy Bitcoin in the UK, can you make it better?

I just created a WikiHow article called Buy Bitcoin in the UK, can you make it better? submitted by InternetofMoney to Bitcoin [link] [comments]

[PSA] Updated real-world currency trading guide!

In this guide, we will discuss the most current safe methods by which to convert your Dota 2 (or any Steam-tradable) items for cash over Paypal, Western Union, Bank Transfer, or Bitcoin.
I will assume you know how to find a buyeseller and list your items. That information should be obvious, if you're using this community. I will also assume you have set up a Paypal account. Verify it!
Full disclosure: selling items for cash over Paypal is never 100% safe. Chargebacks can and do happen, even with users who have a lot of rep. The best you can do is minimize your risk by following these steps OR using alternate cash transfer methods, such as the ones outlined above.
Step One: Rep rep rep!
When selling or buying an item over Paypal, the #1 most important thing is reputation. Without it, you will have a hard time buying items of significant value because it's unclear whether you can be trusted not to incur a chargeback. It's also important as a seller because you will attract more business if you have a lot of +rep.
It is highly encouraged to check if your buyer's Paypal account is verified. Follow these steps!*
Checking a user's SteamRep report should always be your first step when determining whether someone is reputable or not. SteamRep is a scam/fraud report database, wherein users submit proof that another user is a scammer or has otherwise engaged in fraudulent activity. Under no circumstances should you trade with a marked scammer because you are putting yourself at significant risk to get the scammer tag passed on to you. The reason for this is that if you knowingly trade with a scammer, you are passively (or actively) encouraging that behavior, effectively making you accessory to the offense.
Special note: You may see some "pending reports" against a user. Usually, if these reports are compelling enough, you should avoid trading with that person and/or be very careful.
Reputation threads are used to keep track of purchases/sales made over Paypal and other real-world currency protocols, and it's highly encouraged to set one up. There are only two websites that house rep threads that I recognize as legitimate (though more may exist):
When examining someone's rep thread, you need to take into account the following things:
  1. How old is the thread? If it's brand new, that may be a warning sign. If it's months or years old, that's probably a good sign. Paypal recently changed their policy regarding chargebacks, so it's best to look for threads with Paypal rep older than 180 days, which is now the available window for chargebacks.
  2. How many +reps does this person have? If only just a few, I would avoid doing a large transaction with them. If there is any -rep, read it carefully and determine if it's worth the risk!
  3. Is the person you're talking to really the person in the rep thread? Double check by asking them to PM you from that forum account with a secret phrase! I've been impersonated about a dozen times by people who link to my rep thread with a spoof account on Steam. Be careful!
If the person's rep checks out with you, move forward. If not, walk away! You have no reason to feel guilty about saying no.
In the event someone doesn't have a rep thread, but you want to work with them anyway, look at their Steam profile. Consider the following things:
Step Two: Finding a middleman
The use of a middleman when dealing with real-world currency transactions is imperative. It significantly reduces the risk for both parties, since neither will have to "go first" when trading. There are many great and trustworthy individuals who offer their services for free, but some may charge a small fee. Tipping is entirely optional, but it is considered customary to tip the middleman for his time and service. Tipping should be relative to the size of the transaction, but it's ultimately up to you.
  • Some /dota2trade moderators are active middlemen and will respond to your request for help via modmail. Message us here if you need someone! I have middlemanned for tens of thousands of dollars just myself.
  • SteamRep middlemen are community admins who represent their respective communities, but will usually middleman for just about anything.
  • Dota2Traders also has a list of middlemen.
If you can't find one, wait until you can! Do not rush a deal, or you might end up getting scammed, and there's nothing anyone can do about it at that point. Steam support has zero pity for items lost to most scams these days, especially if it's heavily implied that you were selling for cash.
Step Three: Completing the transaction!
Once you have found a middleman and all parties are online, determine the method of payment you would like to use. Consider the pros and cons of each.
  • Paypal transactions are the quickest, easiest, and usually incur the lowest fees. However, it is the least secure, and chargebacks are easy to issue. Chargebacks almost always fall in favor of the scammer (99.5%).
  • Western Union transactions have higher fees, but are almost completely safe for the seller. Please read up on the Western Union process for sending money there. Typically, this process will take more time than Paypal, up to more than one business day. If there is a dispute about whether the money was sent or received, both parties must provide substantial evidence to support their claim.
  • Bank transfers operate in much the same way as a Western Union transaction would. In this case, the buyer must receive some personal information from the seller in order to send the money. Please read more about the process.
  • Bitcoin transactions are a little complicated, but there are middlemen who know how to determine by examining a blockchain whether the coins were sent properly, so it's very hard to scam and be scammed using bitcoin.)
Once the details have been figured out, the transaction should go as follows:
  1. Group chat is opened with all parties involved.
  2. Check everyone's profiles to make sure that there are no impersonators or fake middlemen.
  3. Seller then sends the items to the middleman. Beware the middleman injection scam! Check the person you're trading with before accepting.
  4. Buyer then sends the agreed upon amount of funds to the seller over the preferred medium. See sub points below for further clarification. Please note that Skype screen share may be required for some of these:
  5. Seller confirms that the cash has arrived as expected. If there is a dispute about the amount, fees, or whether the payment has arrived, the middleman holds the items until a resolution has been reached. Concrete evidence is required from both parties to determine who is telling the truth, or if there is a rare glitch in the system.
  6. Middleman then sends the items to the buyer.
  7. Exchange +rep on rep threads and/or profiles and/or reddit threads.
  8. Tipping is customary and to stiff your middleman is considered very rude. These people volunteer their time and efforts to ensure you trade as safely as possible.
It is at this point that you may all part ways with the transaction complete.
I excluded Moneypak from this document revision because it is more difficult than it is worth. I recently went through a transaction wherein the seller accidentally requested a refund and we had to wait nearly two weeks for the check to arrive before I could send the item to the buyer. Nobody was happy about that.
If you have suggestions, please include them and I will edit them in.
submitted by musical_hog to Dota2Trade [link] [comments]

Help me help a newbie move his bitcoins off an exchange.

A friend of mine asked me the safest way to move his Bitcoins off Coinbase. So I wrote this wikiHow on how to use a paper wallet: http://www.wikihow.com/Store-Bitcoin-with-a-Paper-Wallet I think it's pretty good article, but I'm sure there are more experienced Bitcoiners here that might have some advice on how I could make this article better. Could you give this a read and let me know if the methods I describe here are adequately secure? http://www.wikihow.com/Store-Bitcoin-with-a-Paper-Wallet
submitted by TabascoMint to Bitcoin [link] [comments]

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