Recently I purchased a large number of coins on an exchange and began to proceed to send them to a private wallet. I had $5000 stolen within about 20 minutes of my first deposit. I had followed the same procedure I have used for years without incident, downloading an offline generator, booting a machine with TAILS, creating a paper wallet, and depositing to it. I had thought this was fairly secure but now reading up on it I see how wrong I was.

Now I have several thousands more in various coins I have recently purchased sitting on the exchange where I bought them, and I am terrified of attempting to get them off the exchange and into wallets without getting stolen.

As I understand it, it is likely that there is malware on my machine deep in the BIOS or something which was capable of stealing the keys as they were generated.

I am sorely tempted to leave the coins in the exchange, since that has 2FA protection and, after all, it's the process of moving them that seems to be the biggest security risk, but everyone seems to agree that's a bad idea and I do hate the thought that a 3rd party is in control anyway. Can I please be advised on how I can safely get my coins into secure wallets? Thanks.

So...nobody has any clue then? lolz.

Ok, let me try again. I mean look, it takes a lot of money to grow pot, in fact. Theoretically, yes, you get a seed free in your bag, you stick it in the ground and up it grows. But in reality, all the pot farms supplying dispensaries with high quality herb spend a lot of money on electricity, fertilizer, and clones (it's very uneconomical to grow from seeds).

But if this is in doubt, let's use gold. That costs a ton of money to produce or invest in.

The coin miner spends only a few dollars in electricity.

This doesn't matter, because the guy trading gold for the coin can't get that electricity. The coin has no real value. The guy with the gold GAVE it value, by agreeing to hand over X amount of gold for a coin.

My question is, WHY would anyone do this? What is the perceived advantage? What are they trying to accomplish, that could possibly make it worth giving away a bunch of their hard earned gold in return for an easily earned string of code, whose value is, after all, defined only by how much of my gold I decided to hand out for it in the first place?

What is PoS? Also, what is the point to buy a bag of this coin? It's value is equal to 1 gram of pot. So the value of the coins will only go up, if the value of 1gram of pot also goes up. Which isn't likely to happen. Even if it does happen, it will rise only a little. Am I wrong?

Which one is better and why? Are they both GPU-only or can they be mined with more powerful methods?

So can anyone explain how it is economically feasible for anyone to "back" coins with these products? I don't get it. You create an altcoin out of thin air, then you agree to hand over your pot, your gold, or whatever, to anyone who mines one? What is in it for the person holding the gold or pot? It looks like they just agreed to hand over their valuable real-world assets for free. It just looks like hot-potato to me.

I mine 1 Pot coin. Jim has 1g of pot. He gives me the gram of pot. He takes the Pot coin, hands it to Bill for 1g of pot. Now Jim got his gram of pot back, and Bill is down 1 gram of pot. etc. etc. etc.

In the end of the story, isn't the only person who benefits the guy who did nothing, got a pot coin, and convinced some sucker to give him a free gram of pot for it? Everyone else gains nothing, and the guy at the end of the line last one holding the coin is the loser. wtf?


PS. what happened to the "Hayek" coin backed by gold anyway?

I'm trying to wrap my head around this.

 The only reason to mine for an altcoin is because it provides the opportunity to exchange them for more Bitcoin than mining for Bitcoin directly.

Two forces will act on XYZCoin to eliminate this opportunity for excess profits. First, I will keep producing XYZCoin and selling them in the market, driving down its price.

 At the same time, the additional mining power entering XYZCoin mining will drive up its difficulty, reducing the amount of XYZCoin expected given the hashpower in my mining rig.

So by definition, the value of every altcoin is always going down. Therefore, it is incredibly stupid for anyone holding BC to trade it for any AC.

So, can anyone explain to me, why is it that people trade BC for AC? Why does the AC market even exist at all?