MTGOX2 - KEEP YOU`R BITCOIN SAVE

[boled]

We have learnt a couple of lessons from the Mt. Gox hack and that was :

~ Not to store large amounts of coins on exchanges
~ Never trust exchanges 100% to keep your coins safe, it is very vulnerable.
~ Exchanges are run by people and people cannot be trusted.
~ If you do not control the private key, then those bitcoins are not yours.
~ Big exchanges are not more secure than smaller exchanges and visa versa.

The problem is, many people were not around when this happened and many people forget things over time and that gives them a false sense of security. 

I agree with your statement. But your statement does not include a solution. can you provide the safest advice on managing bitcoin assets.

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[warning_btc]

Everytime all advice do not store btc's on exchanges.
But how to trade then.
Maybe need to develop new exchange where your deposit was in pending mode but you can trade already. And when you want withdraw you need complete your first deposit

[Tamilson]

MtGox did that because they got hacked

They got hacked by self. It can not be determined was hacked by hackers or by self.
You can send Bitcoins from 1 address to another and declare it hackers for avoid taxation.

I don't disagree, as it's definitely possible, but do you have any proof that it was in fat indeed a sort of "self-hack" to steal the money of their users?

Accusation without proof is invalid however that incident isn't impossible as temptation is rising when money is on the hand. Like wth everything can happen and maybe that was just a show up.

Everytime all advice do not store btc's on exchanges.
But how to trade then.
Maybe need to develop new exchange where your deposit was in pending mode but you can trade already. And when you want withdraw you need complete your first deposit

Even they will develop that, the risk is still there since it's a third party and besides you don't have any private keys. So what for?

[Bitfling]

Have no auditors who can prove all this virtual Bitcoin trading on exchanger backed by moneyfull private keys.
When people start to windraw Bitcoins from exchangers MTGOX2 will happen.
So better keep your Bitcoins outside echangers for safety.
https://electrum.org/ if you can not use bitcoin core wallet.

It is true that we should not keep our coin in exchanger wallet. Many hackers looking on exchanger and many people think its safe to store it on exchanger wallet. Better move it to our own wallet if we decide to keep it for long term

[xbiv2]

So better keep your Bitcoins outside echangers for safety.
https://electrum.org/ if you can not use bitcoin core wallet.

off topic here despite being true.

Not

[Herbert2020]

So better keep your Bitcoins outside echangers for safety.
https://electrum.org/ if you can not use bitcoin core wallet.

off topic here despite being true.

Not

stop deleting and posting the same comment to bump this topic every day.

[xbiv2]

Banks and exchanges have the same problem keeping your money on a exchange is ludicrous people are lazy and think it will never happen to them.
There so used to people taking care of them the current system babysits you oh you lost your credit card we can undo those transactions!

Banks have goverment protection. Exchangers dont have any.
So keep your Bitcoin in personal wallet, be a bank for youself.

Yes, we have been preaching this all along. If you don't have the private keys then its not your coins. There have been similar instances in the past that putting a lot of your bitcoin in a exchange wallet is not safe so I would have to agree with you in this one. But I wanted to see your arguments about the Mt Gox2 paranoia of yours.

They (exchanges) overshort with Bitcoin, at some moment bankruptcy will better exit for em than payout Bitcoins.

[shamc]

Even electrum isn't safe, there was a scam fairly recently where a cloned wallet was advertised at the top of Google so people downloaded the hacked version and they subsequently lost their coins

[xbiv2]

Even electrum isn't safe, there was a scam fairly recently where a cloned wallet was advertised at the top of Google so people downloaded the hacked version and they subsequently lost their coins

Electrum is save.