Crypto currency (IF banned from CA)
- Thread starter YoboCopter
- Start date
nikom court
Player Valuation: £20m
Exchanges have been robbed same as banks,if you leave your bitcoin on an exchange and the exchange gets hacked thats your own fault,not your keys not your bitcoin!
NOBODY can Rob your bitcoin unless you give them the password!
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So then your whole point about the Afghani leader robbing millions not happening if it was bitcoin is a load of bollocks.
It's like saying "well the Afghani leader wouldn't have been able to rob that money if everyone kept it stuffed in their mattress rather than in a bank.
feel sorry for these poor people,if they had their money in bitcoin,this would have been avoided.
the central bank governor has legged it with all their money!
Afghani Currency Falls to Record as Central Banker Roils Markets
Afghanistan’s currency extended losses to a record low as the departure of the acting central bank governor added to political turmoil weighing investor sentiment.www.bloomberg.com
not to mention the leader running off with $170 mil of foreign aid.
So how is bitcoin going to avoid this?
DuuuncanHadaPigeon
Player Valuation: £10m
Look, as you can see from my posts in response to @nikom court I totally disagree with his point in regards to bitcoin and Afghanistan.
But what you clearly fail to understand is the distinction between holding bitcoin on an exchange (middleman) and holding it yourself (self custody of private keys)
It is a massive difference. I disagree with what he says but you can't compare exchanges and other platforms getting hacked, to a bitcoin wallet getting hacked. They are apples and oranges
No, I understand that just fine.
What's the difference between holding bitcoin and exchange and holding cash in the bank?
As I said earlier, the Afghanis wouldn't have had their money robbed if they had kept out of the bank and under the mattress.
No difference to that and keep your bitcoins in a private wallet, but banks, just like public exchanges, can be robbed.
Therefore, bitcoin would have offered no advantage over cash.
DuuuncanHadaPigeon
Player Valuation: £10m
Exactly.
There is little difference, holding cash in a bank is more secure than holding bitcoin on an exchange. Banks can be robbed, just like exchanges can be hacked
A private wallet where you own the private keys is infinitely more secure than cash under a mattress.
I'm not defending this point that afghanis should have held bitcoin to make them safer, it's a stupid argument. Just read my previous posts.
What I am saying is, you can't conflate exchanges getting hacked with bitcoin being unsecure. It's apples and oranges.
Stop putting your de-centralized assets into a centralized exchange. Stop giving your private keys to exchanges. You give away your keys, you give away your wallet.Nothing at all like those folks who lost all their bitcoin when the wallet services got "hacked" or the web host "disappeared".
Very secure.
Hackers steal $600m in major cryptocurrency heist
Thousands of digital tokens have been stolen by hackers in one of the largest cryptocurrency heists.www.bbc.com
Bitcoin bandits: Hackers steal equivalent of $40M from Binance
Hackers used a range of attack methods to steal 7,000 bitcoin from Binance, a one of the world's largest cryptocurrency exchanges on Tuesday.www.usatoday.com
Japanese bitcoin exchange is robbed of $60 million worth of cryptocurrency
Its digital wallet was connected to the internet and remained vulnerablewww.theverge.com
The Inside Story of Mt. Gox, Bitcoin's $460 Million Disaster
Tokyo-based bitcoin exchange Mt. Gox filed for bankruptcy last week, saying hackers had stolen the equivalent of $460 million from its online coffers. The news rocked the bitcoin world, and it could even bring down the much-hyped digital currency.www.wired.com
$1.1 billion in cryptocurrency has been stolen this year, and it was apparently easy to do
More than $1 billion worth of cryptocurrency was stolen in the first half of 2018, and unfortunately for those who own crypto, it's pretty easy to do, according to cybersecurity company Carbon Black.www.cnbc.com
South African brothers disappear along with $3.6 billion in Bitcoin
The founders of South Africa's largest crypto exchange have gone missing.fortune.com
The blockchain is very secure. The exchanges......not so much.
nikom court
Player Valuation: £20m
Ok,there is no difference between holding bitcoin at an exchange and holding cásh at a bank.
But the big difference when fleeing a country is bitcoin is borderless,it seperates nations from money,is extremely portable and easy to carry over borders and across the globe, nobody can take it from you unless you give it to them, nobody even knows you have it,if there is no advantage in that I give up!
nikom court
Player Valuation: £20m
cash aint king if you are expecting western union to bail you out!
YoboCopter
Player Valuation: £50m
My coin that was 8 for a while on crash is 35ish now…
improvments
improvments
DuuuncanHadaPigeon
Player Valuation: £10m
do you keep it on binance? I have just read they have stopped withdrawals for your coin
YoboCopter
Player Valuation: £50m
Just under 50 now
YoboCopter
Player Valuation: £50m
If only binance let you withdraw id be a wealthy man lol
DuuuncanHadaPigeon
Player Valuation: £10m
dont use centralised exchanges! not your keys not your crypto
YoboCopter
Player Valuation: £50m
Na got them in a safe wallet now mate but still dont know how to withdraw from that haha
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