While coinbase has done great in this particular incident, but you have to look at the flipside as well. A central business authority prevented users to use their own money for whatsoever reasons. For this incident, Coinbase deserves a thumbs up, but in general, someone else controlling your money in a nutshell and they have the power to decide when and where you can spend your own money!
Not being pessimistic but that's the reality.
Whoever open accounts on coinbase and other CEX platform already know the platform also have control over their account. If they don't know, it is their responsible to the ToS. They could have allowed the transaction to go through but they didn't which they are fully taking responsibility for in case anyone think otherwise that they should have allow people to be able to spend their currency the way they like |
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Just because they do this does not mean they are not safe. Most centralized crypto platform are being regulated and subject to financial regulations of the country in which they are based and this is the reason why as a user you need to read their term of services before sign off. If you are not involve in any shady business and you always receive clean coin, it is good to use. As a beginner, I will always suggest coinbase because you can easily recover your login details in case you forget your password
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d) be very secure in relation to users' funds
This is the most important thing that all exchanges should have. And for that new exchange, they should show how strong the security they have. We're talking about users fund and people don't want to be disappointed by hacks and loss of funds through exchanges. Although we always advise that people shouldn't be keeping their funds on exchanges but this is the main asset of a new exchange should have. You will never how secure a platform is until it suffers hacking. All of them will tell you they implement the strongest security means to prevent attacks by hackers. Not until cryptopia got hacked nobody will believe such noble exchange could suffer such a devastating hacks. I consider low withdraw fee and higher withdraw limit to be more important since this are things that are more visible to everyone without being told |
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You don't trust coinbase with your info and also coinbase can't trust you that you will be bringing clean crypto to their platform that is why they require KYC. Not only them but also other centralized exchange. They need all this before they allow you to access some other features such as buying with cards. This has nothing to do with bitcoin but rather where you want to store your crypto. By the way no registered bitcoin business will allow you to buy with card without verifying your identity
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I was reading about Cashaa, that was hacked and 336BTC were stolen. But the hacker can't move them right? He will leave footprints. So why should hackers steal them since they can be found? For example if they want to convert them to fiat.
The only way I think you could get by from this felony is to keep them on very long term. So long that it may be forgotten. But still, it may.
When robbers go to bank, they don't really have amount they want to steal before they left for robbery. They still as many as they can and part of the reason why they are being caught. The same thing apply to hackers. They hack accounts and ones they see huge amount of btc, they become nervous to steal everything. Crime charges very from country to country, while some country might have a long jail term for this act, some might not depending on the scenario and how much the criminal is ready to corporate |
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for this attack, the btc is being sent internally from another blockchain wallet right? so whoever doing this attack has the coin in his blockchain wallet. their system must registered how many times he did speed spend attack and blockchain can move the available btc(if not fully) to the person who lost in this, after all its their official wallet not other party wallet.
1. Whether BTC is sent from Blockchain wallet to Blockchain wallet or from a different wallet to blockchain wallet. The balance and the transaction details appear almost instantly as soon as the blockchain.com wallet detects an incoming transaction... This does not necessarily mean you have received the bitcoins yet. You have to check if the transaction has been confirmed. It's a common feature with other exchanges and casinos though I don't like it. 2. They make is so clear that they can not assist as an intermediary in payment disputes. Your wallet, Your transactions, Your funds, Your responsibility. Contact the platform, exchange, or party from which you expected to receive funds. Please note that the Blockchain.com support team cannot assist as an intermediary in payment disputes. https://support.blockchain.com/hc/en-us/articles/360000575926-I-was-expecting-to-receive-funds-but-have-not-received-them-yet
The link on blockchain.com shows an Android wallet. If an address was generated on this wallet, how can that address say "This BTC address is unused". If the balance shows up on the "blockchain" wallet for an unconfirmed transaction, that means they should be acting as the escrow or arbitrator for such a transaction. Judging from the fact that the OPs incoming transactions never got confirmed, Blockchain.com effectively "ALLOWS" such a double-spend attack.
Even if the address is generated, if it doesn't receive any confirmed transaction, it still remains unused. I also don't like how they show the balance even before the transactions gets a single confirmation. Here is an example of how another Blockchain wallet user got confused because of the same thing and got scammed off BTC worth $2000 - Help with a missing Bitcoin transactionso from this what is see is crypto is not really "secure" coin. someone new always going to fall for such scam. Its really not for normal people and business, its the currency for scammers and businesses who do illegal trades and wants to hide transactions from authorities. only reason i wanted to try this because it dont have big transaction fee, currency conversion fee like paypal. atleast in paypal we can win charge backs. im just going to sweep this under rug as unexpected monthly loss and going back to traditional secure currency. im actually glad it learned this early at 900$ not at 900k$. Thank you to everyone who took time to explain things. I'm sorry from your lost but people take advantage of what is good and makes demon out of it. Crypto offer individuals the possibility of owing, dictate and have full control of what to do with it without anyone holding or performing transaction for you. This is why it is so important to fully understand everything about crypto before start transaction. Just because people dupe you doesn't make crypto a bad thing. |
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how did he even persuaded them at the mall to operate an ATM without any business registration and License ? there could be more to this. It is amazing that US is recognizing crypto as a form of money but operating an bitcoin ATM business is just like owning a crypto exchange platform which need to be registered in a country of interest. Operating such an illegal business stance a chance of being paraded by criminals who can be involved in money laundering
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They are technically telling you that they are not ready to get their currency holding a competition with any crypto especially when used as payment processor which also mean you will need to convert any crypto into fiat before spending. It is still OK than banning the coin. Maybe they are trying to safe business that might want to be accepting it as payment from losing part of their profit due to crypto market volatility.
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The future and prospect of this Pi network depend greatly on the listing on the exchange and this is the reason why it has not been listed on any exchange. It is very uncommon to see project having such huge numbers of community which in the case of Pi, it is due to the reward which is substantial and ease through which it can be mine even with the use of smartphone
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Crypto is praised as currency of future, 100% secured way of transaction. my question is how?
-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.
This is how regulated bank suppose to be but it is not always the case. It has been recorded in the past where bank authorities through their staff siphon money from dormant accounts of individuals. Through crypto, you are in full control of your asset and you are required to plan how to provide the way to pass your funds to your love one in case of death -If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.
So how is this a currency of future, did anyone asked these question before?
cryptos are for intellectuals. You are suppose to protect your coin the way you protect your properties. This also include not giving out informations that can lead to your account being hacked and not to fall for fake giveaway. Money can only be recovered if it has not been successfully withdrawn by the third party so it is always a 50:50 chances. It is not in all cases that money being stole are recovered back by the bank |
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Alot of people that fell for Scam like this are newbie who got btc but never take time to study what it is. of course, I know people believe so much in an influential people but when you check this giveaway links, you will realize the same script which has been recorded so many time as a scam is being used. if Obama want to give anything, it will be in form of donations and not requesting for funds from people. It is painful to keep seen people falling for this scam even up to this present moment
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It has been discussed so many time that investing in crypto involve a lot of risky. Be it old or new coin or token. Do not invest what you can't afford to lose and when you invest, you can minimize your risk by doing research on the project and ask questions from experience community members if something seems to be unclear. There is guarantee in anything but make sure you minimize the chance of investing in risk project
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It is very likely that any project that intend to conduct and choose ICO over other most likely have a known group of investors and some others that must have verified the authenticity of the project and know one or two team member of the project. You hardly see such project spending money to promote the project by having bounty campaign and might be backed up by influential people
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If it does, then why are project dev still engaging bounty hunters? I'm not disputing your point but to me, the problem arise when dev give huge amount of money for bounty. They do this just to attract many bounty hunters, knowing very well they may decide to change the rule of the bounty after the sales. Dev see bounty campaign as a medium to promote their project without spending penny before they realize their objective.
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I guess that are looking for a currency that provide complete anonymous transaction without having to start using mixing services. Monero seems to be the choice for them. If they successfully pay the hackers the ransom without them getting arrested, it is likely hackers change from demanding for BTC to Monero for paying ransom and the next questions will be how to trace monero collected in such cases.
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If I am not mistaking, just because a site is the oldest does not makes it rank higher than the others. SEO does not work like that. Quality content is the number one driver in website ranking higher. Also, the higher the number of backlinks the website has, the greater the ranking. when you compare bitcoin.org to blockchain.com you will understand why the latter is ranked higher. also, you may need to use other ranking site to make a reasonable conclusion
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That's being impacted by what is currently happening in the world. People are not making enough and the basic needs are the only things they spend the little they earn on. Between taking transport and getting food, the latter become necessity and that is the reason why it is. In my country right now, sanitary pads, face masks, foods and drugs are the things selling fast. Business such as transports are not making enough especially when their movement has been limited
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I wonder if you are considering trading volume because if you have been doing this with 0.18% fee, I must tell you that the it if fair enough. Sometime I do daily trading on bitmax but the major challenge I'm facing is low number of traders and low trading volume. My order always take long to be filled. In case you want to try and compare with bitmax. There fee is also low
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I would love to know How many years it takes crypterium to achieve this because I was made to believe MasterCard accepting any crypto project follows a very rigorous process. Amon card has been fighting for this for so long to the point they are now considering Chinese Upay card. Hearing this news shows it is achievable and probably MasterCard is giving crypto related project an edge.
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Many platform that require kyc have system that automatically discover Photoshop documents. If anyone send a Photoshop document for kyc and it was accepted, then the platform might be checking manually which makes it possible to not discover Photoshop documents. In the case of polymath, it is possible they are not making use of algorithms to do this.
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