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Im thinking about buying iota. Do you guys suggest keeping iota in the exchange instead such as binance?
Also im bit confused here. So the iota wallet is very hard to use? Also there is no password? If thats the case, how is that even secure? So when you use the wallet, you have to create your own seed? How many words is that? And you basically make up your own words?
This thread gives a lot of false information that OP is spreading. For the iota wallet you need to create a seed with 81 charakters (letters and the number 9). This seed is your password that gives you control of your coins. It is very important to NOT use online generators for your seed! Because if you use a third party website to generate your seed, you fully trust them that they don't save your seed on their website. If you generate your seed offline your iota will be safe. Don't forget to write your seed on paper in case your computer crashes! |
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Perhaps 90% of all wallets used these online seed generators.
There were reportedly 4 million dollars stolen from people who didn't care about the security of their wallet. That's about 0.001% of all wallets Wrong. In the meantime there have been much more compromised wallets and stolen funds reported. Links and more information you can find in this thread if you open your eyes.
Just because you fanboys live away from reality does not mean reality does not exist and this whole shit has not happened. Including that massive design flaw.
Do you see the first link on the website that you are suggesting ( https://forum.helloiota.com/9284/Call-to-action-lets-catch-the-thief) ? It's a spreadsheet with all addresses and amounts of the stolen IOTAs. Scroll down to line 517 and you can see that a total of 4 million dollar got stolen. So what about your claim that 90% of all IOTA wallets were compromised? |
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Wrong. In the meantime there have been much more compromised wallets and stolen funds reported. Links and more information you can find in this thread if you open your eyes.
There is no link in this thread that states that 90% of all wallets are compromised. This is just a story you came up with Just because you fanboys live away from reality does not mean reality does not exist and this whole shit has not happened. Including that massive design flaw.
What exactly is a fanboy? Is it somebody who secures his wallet such that hackers can't steal his funds? If this is the case then I am a fanboy, yes  |
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If one would have kept IOTA on the exchange, no seeds would have been created and the funds would still sit there.
you prove again that you have no technical knowledge about how cryptos work. Do you really think that exchanges don't generate seeds? Where do you think they store the coins? Perhaps 90% of all wallets used these online seed generators.
There were reportedly 4 million dollars stolen from people who didn't care about the security of their wallet. That's about 0.001% of all wallets In this case it did not help as the seed, that's how they call their private key, was generated online by malicious sites they promoted in their forum, as their own client did not have the functionality to create such.
The Iota Team warned about online generators. See this post from August 2017 (long before funds got stolen) "All things considered, seed generators are still not considered safe if they come from a third party source, and not considered best practice. I would caution people against using this tool at this time. ( https://forum.iota.org/t/iotaseed-io-now-also-for-generating-paper-wallets/3915)" |
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It's ok, you can continue to talk rubbish every day.
Yes, I will continue to try educating you. I didn't lose hope If you would research enough you would see that only a few new people to cryptos got robbed. That happened with bitcoin in the past too. The difference with people who got their bitcoins stolen is that they learned from their mistakes. I did not design IOTA and I did not make a private key the way to log into it.
Consider yourself lucky if you still did not get robbed. It may happen.
I will inform you if they get stolen but since my start in cryptos in 2013 not a single coin got stolen from my wallets... I'm just very careful and paranoid if it's about my private keys. Since I'm talking with you i think I found out what type of guy you are... In the past you thought cryptos are not worth to invest in because the market is to volatile. After the hype of bitcoin in September 2017 you wanted to make big money and decided to step into cryptos. At this time bitcoin was already to expensive for you, so you thought to buy IOTA because it was still cheap. Unfortunately you didn't research how to securely operate a wallet and by accident you gave your private key to a third party who now stole your coins. Now you are extremely pissed because you lost your money (I can really understand that and it is a shame that there are so many scammers in the crypto szene). I can also understand that people always try to find someone they can blame for their own mistakes. However what I don't like is, that you are giving misleading information over and over again in this thread. |
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It does not matter where you think you place it. They have stolen the private keys, and thus own all your funds. And that is a major design flaw of the IOTA client that requires one to openly use the private key, which they call seed, to log in.
Another day, another unqualified comments from you The only flaw are the people who give away their private key to others. I think other people also see what you are trying: Negative promo for IOTA because you were naive by using the online seed generator. By this move you gave the criminals full access to your wallet. This can happen to your bitcoin as well, so better learn from it and secure your stuff as quick as possible. |
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I think login with your private key is not risky as long as you don't disclose it to other people!
And if your machine is compromised you are game over with all software wallets. So what's your point? How should I be able to hack your wallet without the private key?
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It's not the devs fault , yet they linked their new investors to this malicious seed generator themselves, doesn't really make sense to me.
As far as I know they linked to a github code and not to iotaseeds.io One guy from the official iota forum actually warned about that .io site It is not devs fault if you disclose your private key to third parties
You really don't get it? It is a major and substantial design flaw to use a private key, which the seed is, to log into ones wallet. Without any authorization. 2 major rules of information security have been breached here. Sadly you don't learn that your authorization is useless if you disclose your private key! I hope at some day you just understand the technology and learn from your mistakes.. But instead your just blaming everyone else but you |
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It is not devs fault if you disclose your private key to third parties
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Really sad with all crypto newcomers who didn't get educated how to handle the coins  This makes it to a paradise for scammers |
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It's ok, you don't need to write any more, we know you don't get it  . And I don't mean that negative. Just educate yourself. Information Security is a big topic, may look overwhelming, but there are some basic concepts like AAA, look that up for your own good. LOL i was not even talking to you but you always have something to say. Your just trying to spread FUD because you came to the insight that you screwed it up You are the guy who lost money so probably you should educate yourself about information security Like I said, my coins didn't get stolen |
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It's sad to see that people who are new to crypto don't research how to securely operate their wallets and start to blackmail the devs if something goes wrong.
What rubbish is that now? Who is blackmailing the developers? Nobody. They made a mistake and did not think all through. They forgot to implement authorization, I wrote that already. The only mistake they make is not to acknowledge these gaps and problems with their software, thus putting users at high risk. Which is unchanged. Damn, now I'm discussing this with you again You're writing always the same shit that only a noob could write. That is exactly what i mean.. do your homework first and then invest in cryptos its not IOTAs problem, it's you carelessly give away your private key |
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It's sad to see that people who are new to crypto don't research how to securely operate their wallets and start to blackmail the devs if something goes wrong.
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You are probably in the wrong profession if you don't realize what happened here.
My IOTAs are still in my wallet ;-) Obviously I'm not that dumb as you Yes, I know you are the other IOTA fanboy that only gets rude. Your public presentation. Congrats. I just tried to explain the situation to you. But after you start offending, I'm not polite anymore. |
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You are probably in the wrong profession if you don't realize what happened here.
My IOTAs are still in my wallet ;-) Obviously I'm not that dumb as you |
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I can understand that you are pissed of because you lost your funds but this issue has nothing to do with Authentication, Accounting and Authorization. You gave your private key to an untrusted third party. Thus Authorization is not the problem here because with the private key a bad actor can steal your funds regardless of the password protection.
You obviously don't understand even basic concepts. Can you read your email without a password to your account? No. I read the whole thread and realized that other users already tied to explain it to you without success. I am working for more than 8 years in Information Security, so I can tell you I got more than basic concepts. Your argument with email does not hold because if you generate your password with an online generator, your account may be exposed to criminals. Furthermore for your email you just use one password to log in. No private key involved here. If you would use PGP to encrypt your mails and you would use an online generator for your private key, a bad actor could save your key and read all encrypted messages that you receive... I hope you got it now, because that will be the last time I explain it to you. |
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What a rubbish from the IOTA fanboys. Certainly it is not safe to post any private key online or use it to log into your wallet. That's why no wallet uses a private key to openly login, only the IOTA wallet does that. And as I wrote several times before, they do so without authorization.
Again, AAA: Authentication, Accounting and Authorization, the 3 pillars of information security. IOTA failed to implement authorization. And that's what they are to blame for!
I can understand that you are pissed of because you lost your funds but this issue has nothing to do with Authentication, Accounting and Authorization. You gave your private key to an untrusted third party. Thus Authorization is not the problem here because with the private key a bad actor can steal your funds regardless of the password protection. If you would say that users have no possibility to generate their private key offline using just their wallet software, I wouldn't say anything against it. So if you want to blame the IOTA team for it, then you could give the argument that they didn't design the wallet software for people who are new to crypto or have no idea how to securely generate a private key. |
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I talk sense. You don't have basic understanding. That's the problem with most people.
Could you explain why you "talk sense"? Do you own Bitcoin? If your argument is true, it should be no problem to post your private key here because your funds are still protected with your wallet password? |
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You are not safe, even if you did not use any seed generator. I explained that already. There are 2 things, authentication and authorization. Right now you can only use a seed which is your private key, to login to your wallet, authentication. There is no way to protect this seed. That would be authorization, or put it simply, a password. IOTA does not have that simple but necessary functionality.
You're talking bullshit! If I knew your private key for the wallet, an encryption password would not prevent me from stealing your coins. The password would just help you if I would infect your system with a backdoor and your private key is stored in clear text on your hard drive. |
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What's more, one all the more thing, as I am a games wagering individual, might want to know why you all don't put each UCL recreations or Europa League amusements for betting?just inquisitive in knowing
But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. |
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