Found someone with BTC locally

Basically I've come across friend who's just told me that they've been storing some BTC since a while ago and now wants to sell them. The transaction will be done via cash.

Should I be worried in any way? When the coins are in my wallet they're in my wallet and no way it can be reversed? I do find this person trustworthy but I just don't want it to be a fuck up in anyway otherwise I'll just use LBC, however the currency rate is cheaper.

Just asking since I've never done it this way before. Thanks


Comments


[8 Points] DerkNatMerkats:

If you have bitcoin in your wallet there is no way to reverse it. Just do the transaction right there and leave when you get your first confirmation or something.


[2 Points] deep_touch:

Use your own wallet that you created and have a backup of. Don't use wifi on site. Wait for at least one confirmation. Meet indoors in public.

In person exchanges of cash for Bitcoin can be an easy way for LE to profile dealers


[2 Points] None:

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[2 Points] throwahooawayyfoe:

Sending someone bitcoin is essentially the same thing as opening your physical wallet that you carry in your back pocket and handing them a federal reserve note. The only way you can get it back once it's in the other party's possession is for them to give it back.

If you want to make sure everything goes super smooth, use a local wallet that you control the keys to to receive it and prime that wallet beforehand by sending a small test amount to it (0.0001 + a super small tx fee is fine, all you're doing is testing to make sure the wallet is working properly. It literally doesn't even need to confirm, it just needs to show up in the ledger as an incoming transaction to show that the address is valid and connected to the bitcoin network). Also make sure you copy and paste the address directly (by way of sending it to them as an email or something) or scan the wallet's QR code with your friend's device. Relying on yourself to type in a BTC address manually is not so reliable as case matters and any character transposition or other typo means you fucked up and you can wave byebye to those coins. When you go to actually send the full amount, include a miner/tx fee of ~0.0005 btc (more if you want it to confirm even faster) and you should be golden.

If this is really one of your personal friends, I'd say you struck a small jackpot. An in-person cash deal is just about the single-most anonymous way you can get BTC other than mining it yourself and the risk of getting robbed by a friend is slim to nil. Go for it, OP. You found yourself a goldmine.


[1 Points] None:

hi slutbag. I have/had a similar situation. I'm actually paranoid that coinbase, who shut my account down for TOS violations, gave my info to the police/IRS. I'm not even sure how they handle that information so it has me spooked. Localbitcoins. I wish I had come here a lonnnnnnnnnng time ago, First off, I'm a cunt, and as such, I prefer to only meet with other cunts. I was in luck. Women are trading just as much as men. They are cool. And it is so much nicer to do business with that person than an institution/monegram. I established a relationship with a gal and look forward to doing business this way, from now on. TAKE THE LEAP edit: only use reputable traders with a few trades under belt and always be vigilant! As for your friend, once coin is sent they can't "unsend it" it's just like you sending money from your wallet to wherever


[1 Points] sunchip14:

omg post this shit in the /r/dnmnoobs. BTC is not reversible


[1 Points] None:

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What is this?