Except this is not always the case. Regulations haven't evolved yet to force all exchanges across the nations have user protection mechanisms. In Mt. Gox some have still not been compensated, same as with Bitfinex's and Coincheck's hack. And those who were compensated, were partially.
I know they don't always compensate users and it depends. Like if a hack is not big enough to kill that exchange and if they see they will have long term gain if they make compensation to their users. It is possible if they don't have their exchange tokens and bet it as collateral like FTX. They can die or file bankruptcy and I only say there are some factors to consider when using CEX or DEX. I honestly feel more safe in a reputable, open-source environment, as with other Bitcoin software like Bitcoin Core and Electrum, than leaving my funds in some stranger with questionable security and money insurance.
Again it depends too. If a person is amateur and can not learn to use non custodial wallet in a few hours because of old age, lack of English reading skills ... using centralized exchange is not too bad. Then try to learn and improve knowledge and practice to use non custodial wallet. It is acceptable if you are a newbie and use centralized exchange account to store bitcoin. Though, it is not bad to start like that, if you are in this market like 6 months, 1 or 4 years and still don't use non custodial wallets, it is unacceptable. I only want to say, it is not correct to say CEX is the best or DEX is a best, it depends on specific user and at specific time. |
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My point is :
-Your CEX is hacked : risk for your funds + risk for your personal data
-Your non-KYC service is hacked : risk for your funds
A CEX is more risky from my point of view
And about Bisq, apart if the user downloads a fake software of Bisq, I don't really see what could go wrong ? its way of functioning is very protective of user funds
When a centralized exchange is hacked, they compensate their users instantly or gradually. When a decentralized exchange is hacked, who will compensate you as a user? Nobody because it is decentralized and I am talking about really decentralized exchanges, not what are called as DEX with public founder teams. Like if Bisq is hacked because that software is exploited, who will compensate you? |
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When Binance and Coinbase were sued by the SEC
Institutions should be afraid, but why are institutions the other way around?
Not all companies will maintain their leading positions forever. Nokia, Koddak, Sony are good examples and you can forget about such fear, without Binance, Coinbase there will be other exchanges in future. Before Binance, biggest exchanges are Poloniex and Bittrex but Bittrex just filed for bankruptcy months ago. And if the institution has entered, the pump should have happened, especially when it coincided with
halving in 2024. Right?
There are already institutional investors in Bitcoin market. You can explore who they are in Bitcoin TreasuriesIn halving years, we will likely have big news to heat the market and lift it up. First and some Bitcoin Spot ETFs in 2024, what do you think? |
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Consolidating your wallet UTXOs is doing an on-chain transactions but you don't send coins in those UTXOs to another wallet of another person but sending it to another address in a same wallet or another wallet of yours. It is consolidation. Best if that wallet has Coin control feature because you don't always want to consolidate all UTXOs. When you do consolidation, you have to pay fee for that on-chain transaction. [Guide] Consolidate your small inputs when fee is low.Creating a cold storage wallet with Electrum. |
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Hardware wallets --> are best for holding purposes.
Only if they are good open source hardware wallets. Close source hardware wallets can change from good to bad and do things without notification to their users. With open source wallets, if they change, community will detect it with open source code. Business --> both wallets and exchanges can be used but i prefer to use exchanges as some exchanges has the feature of sending money without anybfee such as Binance pay id etc.
Sending without fee only possible if exchanges waive out transaction fees for users. It is more common with gambling platforms and less common with centralized exchanges. With centralized exchanges, you can send coins to other users on a same exchange without fees. You must know it is not on chain transaction but only an internal credit to that account balance. Centralized exchange does not spend any fee generously to support you. |
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Their made-up "wrapped" tokens even get "market cap" and with that, pretend Bitcoin's market cap is lower than it actually is. What if I take 1 Bitcoin and wrap it 1 billion times? My market cap will be $30 trillion!
Those wrapped tokens can be depeged and when depeg occurs, if we own wrapped tokens, our capital will vanish. Stable coin depegs are bad but wrapped token depegs can be worse. Because they might have nothing to keep the peg like stable coins. My advice: avoid any exchange that feels the need to create their own "token" to increase their own profit. Just like you should avoid any exchange that overcharges you on withdrawals.
Get profit for their exchanges is not the worst which is if they use their tokens as collateral and bet to get richer. They ignore risk like Sam Bankman-Fried and their exchanges can collapse like FTX. |
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Minimum Merit requirement in the last 120 days: 150+
Unsure but does this merit requirement is for GreenZone or all spots? None of below applications have 150+ merits. They did not read your announcement carefully or thought it is applied for Green zone.
By the way, please let me know if I fit the Green zone. Thanks. |
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I've heard that many times but I'm not so sure. For starters, if the fees are high, I don't think it would be convenient for unbanked people to make day-to-day payments with Bitcoin, besides they won't be able to do it in many places and the LN is impractical if not relying on third party wallets. The unbanked do not have enough to save much, they live from day to day and for little savings I think Bitcoin is the same as a bit of gold.
Bitcoin transaction fee is not like fee in bank transfer which will have different fee tiers with bank transfer values. Banks charg you more when your bank transfer has higher value. Bitcoin transaction fee is different and only depends on transaction size and fee rate. With same input, output, address type you will have same transaction size. With same fee rate, two transactions will have same transaction fee even they move either $100 or $1000 bitcoin equivalent. I agree with you that fee for bank transfer and Bitcoin transaction are always big problems for small value transfer or transaction. |
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In the world today, many people prefer to keep their money in their house save because of the perceived fraud by our traditional banking system that has decided to rip the populace off their hard-earned money without remorse
...
If they are fearful of banks and decide to move to Bitcoin, it is a first good step but it is not enough. If they open their accounts at centralized exchanges and store their coins in such accounts, they will face with risk like with banks or even bigger risk. Because regulations on cryptocurrency centralized exchanges are easier than on banks. So risk with centralized exchange will be bigger. If they do this, stay with banks is safer. Reminder.If they choose Bitcoin, they must use non custodial wallets. |
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In addition to the above posts, there is another currency that supports Electrum(Not the fork of Electrum.) It also supports tBTC when you enable testnet on Electrum but this coin has no value it usually use only for testing and development. If you want to test something want to learn how to use it you can get free tBTC from this testnet faucet list. Testnet faucet list. https://bitcointalk.org/index.php?topic=5215716.0#post_faucet |
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They have bad reputation in security but the community thought that Binance will always make compensation to their users. They did it in the past but they might or might not do it in future. I guess they will do it if they won't suffer a very big loss which can damage their exchange treasury and trigger its collapse. If a loss is big enough for a collapse, Binance will become insolvency and they will come to an unhappy ending for users, like FTX. |
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TheBeardedBaby! Today I just clicked on All and got the Cloudflare issue like you. Perhaps previously I did not understand your flow of doing this. Personally I use this format like I discussed days ago. https://bitcointalk.org/index.php?action=printpage;topic=5455869With that print page (limit to 25 pages and less), you will not get the Cloudflare issue. Hope it solves your uncomfortable experience. Question: Is a print page what you need? |
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Trust wallet is a non custodial wallet where they will give you private key, you can use this private key (from Trust wallet) to access your wallet through any other non custodial wallet e.g.
Trust wallet is not open source and it is a big issue, maybe not now but in future, who knows? A big warning is from Atomic wallet. Atomic Wallet hacked! Get your funds out now!You will not always have chance to get your funds out if a wallet is compromised like that. As for TRC20 wallet, it's same, you just need to find and use non custodial wallet.
Most EVM-compatible wallets will start with ERC20 chain first and move to other chains like BEP20, TRC20, ... Custodial wallet e.g. centralized exchange is where you must avoid to leave your coins because if they're disappear, your coins also disappeared too e.g. Mt.Gox, FTX etc.
Put our your funds to exchanges then you only can pray that they will not be hack or scam you. Reminder |
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After the development of other coins which are altcoins and their swapping, altcoins like USDT on Tron blockchain and privacy coins have become what the criminals are using. Little amount of bitcoin is involved in illicit activities.
Many inaccuracies. - Bitcoin is a biggest cryptocurrency and it has biggest trading volume. It is a most favorite cryptocurrency for mixer services. You can find many Bitcoin mixers but very little altcoin mixers.
- You can argue with me but you can look at signature campaigns in Bitcointalk, if they are from mixers, Bitcoin mixers.
- With high volume of Bitcoin, it's more easily to do that with Bitcoin than with altcoins.
- Not all bitcoins or cryptocurrencies used in mixers are for illicit activities like money laundering.
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A "quality post" is also something that hasn't been redundantly and unnecessarily made time and time again without any new information at all.
I agree with mk4. Google or chat with ChatGPT is enough to know what is quality post in Bitcointalk. It is about searching and reading before posting. Like this answer from ChatGPT, somewhat related to post quality I asked ChatGPT how to earn meritPlease read [Guide] Searching effectively and the welcome message has some words about quality too. |
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I can not understanding what you thought when writing this diagram. It is non sense (sorry but I have no different word to say about this one). If you can not display it directly in your post, you can draw it on a paper and make a screenshot. It is for visual only because your mindmap is not good so a screenshot can not make it better. Mastering Bitcoin - The Bitcoin network. I guessed you are wanting to learn about Bitcoin network. The Figure 3. The extended Bitcoin network showing various node types, gateways, and protocols contains what you are learning. |
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We all are being hacked by the centralized exchanges and yet we still use those exchanges.
"We" are not being hacked by centralized exchanges. They are hacked, lost their treasuries and as their users, we lose our money when they reject to compensate users or no longer have enough money for compensation. Exchanges can scam us too and run away with our money, not hack us. We all know that the coins we put on those exchanges aren't ours anymore, and still we let our money there.
Not we, not all of us store our coins on exchanges. If it is you, it is your choice. I'm also among the people who withdraw his earnings to a centralized exchange's wallet because that's the only valid option for me, and that's why I can't avoid it even though I know the risks.
Do you really trade day by day, very often? Only store a little capital of all you have on exchanges to trade. If you store all capital on exchange account, hopefully you won't pay high cost if one exchange goes away like FTX within a week. currently trusting decentralized exchanges is more risker than the centralized ones.
Even they are not 100% decentralized, you can use them more safely for your capital than with centralized exchanges. You must use one wallet for trading on DEX and never use your main wallet for DEX trading. |
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I lost the track of that topic. Did theymos introduce any of the options that we discussed there?
I did not followed it up but weeks ago, I saw images in my threads shown again and guessed theymos did something. In fact, checking his posts today, he did not change anything. It looks like imgur is no longer blocking the image proxy. I didn't change anything on the forum's end, so imgur must've loosened up their limits. I guess it's not necessary to convert img images into links as long as imgur keeps working. But to prevent this from happening again, you'll get an error if you try to embed imgur images in posts from now on.
I'd like to create a page which recommends services for hosting forum images, and mention this in the error message you get when you try to use imgur. Other than TalkImg, which ones are good?
It lasted a few days and images returned to be invalid. Also another issue to prevent this from happening again, you'll get an error if you try to embed imgur images in posts from now on. This also means old posts can no longer be edited without replacing the image links (I just tested it). It's based on the message ID. Posts before roughly when I posted that can be edited without updating the imgur links. |
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I don't know I have ever got that problem, I did not remember actually.
Oi! I don't believe you LOL I meant, about Cloudflare with Show all. I barely click on it so I am not sure what happened in the past but my test after The Bearded Baby created this thread, I did not get the issue, with Tor. I checked it again today, it works. That topic has 11 pages.
Maybe you implied about issue with Cloudflare if we log in our accounts, with Tor and without Capcha bypass code. Everyone get that issue if we don't use the Captcha bypass code and try to solve captcha manually, it sucks. Is it the issue you meant?  |
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