erre
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March 10, 2019, 09:52:50 AM Merited by fillippone (1) |
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Posted similar question a few pages back,but got quickly devoured by pages of memes that monopolised the short attention son of WO thread... (not whining at all, I like WO memes!) 6.2% is appealing, but remember that you are being KYC’d if you deposit. Basically you are giving up your privacy for 6.2% yearly interest. Keep in mind that if you deposit from an address, simple chain forsensic analysis will drive the G-Guys to your BTC stash. More than that, you are giving your private keys to a third party entity. What if they bankrupt or they get "hacked" or their CEO dies or whatever?
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fillippone
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Activity: 2296
Merit: 16409
Fully fledged Merit Cycler - Golden Feather 22-23
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March 10, 2019, 10:04:05 AM |
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Posted similar question a few pages back,but got quickly devoured by pages of memes that monopolised the short attention son of WO thread... (not whining at all, I like WO memes!) 6.2% is appealing, but remember that you are being KYC’d if you deposit. Basically you are giving up your privacy for 6.2% yearly interest. Keep in mind that if you deposit from an address, simple chain forsensic analysis will drive the G-Guys to your BTC stash. More than that, you are giving your private keys to a third party entity. What if they bankrupt or they get "hacked" or their CEO dies or whatever? Yes , of course, “Not your keys, not your Bitcoins” is the reason #1 to avoid this kind of schemes. I thought It was obvious, but yes, you are right, it need to be remembered every time. I think Gemini is a state of the art exchange, but the risk is still present.
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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March 10, 2019, 10:09:42 AM |
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Gemini is providing custodial services not running the business. It’s not backed by Gemini and by definition has to be a fractional reserve.
It’s unfortunate because this will most likely end badly, and the Gemini name will be mud.
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fillippone
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March 10, 2019, 10:23:00 AM |
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Gemini is providing custodial services not running the business. It’s not backed by Gemini and by definition has to be a fractional reserve.
It’s unfortunate because this will most likely end badly, and the Gemini name will be mud.
Yes, what I meant is that if Gemini (the custodial) gets hacked, your bitcoin are gone forever. This is indipendent from the service, but dependent from the fact you are going away your BTC!
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El duderino_
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BTC + Crossfit, living life.
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March 10, 2019, 10:25:09 AM |
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via Imgflip Meme Generator@nutildah, its this beer? F*** it gonna try most of them there actualy good (starting to like a beer it seems....) i better don’t go the beer way when i’m back home... And still people talking suprisingly good english @the philippines (like best i had on vacation if not a english speaking country )
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HairyMaclairy
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March 10, 2019, 10:25:16 AM Last edit: March 10, 2019, 10:45:14 AM by HairyMaclairy Merited by BobLawblaw (4) |
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It’s worse than that. BlockFi is selling or rehypothecating your Bitcoin. Gemini doesn’t need to be hacked for you to lose everything. Only “reserves” are stored with Gemini. Who the hell knows where your Bitcoin actually end up. From their Terms of Service 10. Consent to Rehypothecate
In consideration for the interest earned on your account, you grant BlockFi the right, subject to applicable law, without further notice to you, to hold the cryptocurrency held in your account in BlockFi’s name or in another name, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use any amount of such cryptocurrency, separately or together with other property, with all attendant rights of ownership, and for any period of time and without retaining in BlockFi’s possession and/or control a like amount of cryptocurrency, and to use or invest such cryptocurrency at its own risk. You acknowledge that, with respect to assets used by BlockFi pursuant to this paragraph, (i) you may not be able to exercise certain rights of ownership and (ii) BlockFi may receive compensation in connection with lending or otherwise using cryptocurrency in its business to which you will have no entitlement. From their FAQ What does BlockFi do with account assets?
BlockFi generates interest on assets held in Interest Accounts by lending them to trusted institutional and corporate borrowers. To ensure loan performance, BlockFi lends crypto on overcollateralized terms (similar to the structure of our crypto-backed loans). Furthermore, BlockFi’s automated risk management system monitors positions 24/7, providing the same trusted risk management system used with BlockFi’s crypto-backed loans. BlockFi has the ability to terminate a borrow in a timely fashion and also manages reserve balances to facilitate customer withdrawals from Interest Accounts. Reserves are stored securely with Gemini, a New York trust company regulated by NYDFS.
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El duderino_
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BTC + Crossfit, living life.
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March 10, 2019, 11:17:03 AM |
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This week in Indian Crypto ▫️1/2 time approaches, RBI has 2 weeks to submit draft to SC ▫️Bahrain invites Indian firms to use its crypto ecosystem ▫️WazirX to go Global ▫️FB to launch Blockchain WhatsApp Payments 1st in India ▫️Bangalore most crypto jobs #indiawantscrypto https://twitter.com/desicryptohodlr/status/1104381251035717635?s=21
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GrosWesh
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March 10, 2019, 11:23:33 AM |
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Hi there ! I'm reading all your post every single day since weeks but i never write here, in part due to my imperfect english (i'm french). Today, i'd like to ask you your thoughts on something i've been aware this morning. Some people think following big wallet is pretty often annoncing huge dumps by its movements. https://bitinfocharts.com/bitcoin/address/18rnfoQgGo1HqvVQaAN4QnxjYE7Sez9ecaI put here a pic where it was clearly explained. A few days ago (28 of february) 60 000 Btc were moved. So... is it time to go on usdt ? I'm seriously thinking on it for 3-4 coming days. Just asking, please let me know what you think if you don't mind. Have a nice sunday all !! Edit : i have to precise i'm not fudding or whatever else... i'm just ask myself if that kind of 'discovery' is something worth. 2nd Edit : someone added the purchases in addition to sales on the chart.
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HairyMaclairy
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Degenerate bull hatter & Bitcoin monotheist
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March 10, 2019, 11:46:27 AM Merited by JayJuanGee (1) |
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It’s an interesting chart. But the wallet is now empty and the last move was 1 March. So it seems any influence that wallet could have is now gone
Given the size I wonder if it is an exchange cold wallet and those coins have now all gone to strong hands.
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Last of the V8s
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Be a bank
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March 10, 2019, 11:49:12 AM Merited by BobLawblaw (1) |
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yup correlation != causation and yet i might win my bet yet nice one GrosWelsh - make some more good posts, you get a finely-embroidered hat
I can sense Comradissimo Homer's fingers itching
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Last of the V8s
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Be a bank
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March 10, 2019, 11:52:13 AM |
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Last of the V8s
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Be a bank
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March 10, 2019, 11:56:53 AM |
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jesus litecoin is up 20% since i agreed to that part of our bet and looks bullish maybe ether will bring it all down - looks terribru
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Last of the V8s
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March 10, 2019, 12:00:11 PM |
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It’s an interesting chart. But the wallet is now empty and the last move was 1 March. So it seems any influence that wallet could have is now gone
Given the size I wonder if it is an exchange cold wallet and those coins have now all gone to strong hands.
/biz/ and bitinfocharts usually 'know' whose are the top ten wallets. here they don't happen to. maybe it was cryptoqueeen cashing a tiny bit out for their hols.
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El duderino_
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BTC + Crossfit, living life.
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March 10, 2019, 12:14:43 PM |
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It’s an interesting chart. But the wallet is now empty and the last move was 1 March. So it seems any influence that wallet could have is now gone
Given the size I wonder if it is an exchange cold wallet and those coins have now all gone to strong hands.
Don’t know what V8 means with their hols....? But HM is more accurate probably Some of those coins went to cryptoqueeen’s cold Wallet And a slice to mine (Maybe not straight from there, but some BTC has been added) We have been taking on Some cheap Corn ( not the cheapest we have had but cheap) damn do i like poker when i’m running good (my friend always says i run as God.... nothing he ever have seen before, and he really played the best of the best ) BTC was mean’t to be for me, just knew i’m a true true hardcore Hodler and i Will remain to be
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El duderino_
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BTC + Crossfit, living life.
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March 10, 2019, 12:15:47 PM |
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Its a cool one, but infofronts trump-Thanos is cooler
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El duderino_
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BTC + Crossfit, living life.
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March 10, 2019, 12:17:21 PM |
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Bitmain already facing multiple lawsuits and more being filed. Their assembly, component, production, and repair companies are unpaid and losing patience. Seems Bitmain is deep in debt and trying to raise new capital from unwitting investors to keep goin… https://twitter.com/redditbtc/status/1104717278246043648?s=21
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El duderino_
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BTC + Crossfit, living life.
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March 10, 2019, 12:19:02 PM |
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Hey @APompliano this one made think of you home... Just was leaving the local Safeway and bam boom bip look what they installed up live and running! The 🇺🇸 corn adoption sure as hell is thriving when u see these puppies in Chesapeake Beach, Maryland! $BTC CAN'T STOP WONT STOP! KEEP them coming spread/adoption everywhere https://twitter.com/ninjacryptocoin/status/1104447910366924800?s=21
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