Bitcoin Forum
July 21, 2019, 01:51:47 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: « 1 2 3 4 5 6 [7]  All
  Print  
Author Topic: Why can't we have a good cryptocurrency exchange?  (Read 874 times)
lovesybitz
Sr. Member
****
Offline Offline

Activity: 868
Merit: 289



View Profile
May 29, 2019, 04:59:56 AM
 #121

Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...

Hacking doesn't have to do anything with the reputation of an exchange. Any and every exchanges are prone to hacking no matter how stringent information security mechanisms they have! The reputation matters when an exchange gets hacked and how they manage the entire scenario to get back online and refund their customers.

On the recent hack on Binance, I believe they are trying really hard to get the situation under control. The owner is being upfront in communicating their plans and they have created a fund called SAFU to deal with such unforeseeable events. That's where the reputation comes from!

I honestly, agreed on you Sir that almost all exchange are really prone to hacking. But I also believed that in some other exchange there is a big possible an inside job happen. Like what happened before on etherdelta, its a decentralized platform exchange were it has been hacked many times and yet still they have a traders who used their platform though majority are afraid to use anymore. For me, there in that case I do believed that there is an inside job though I don't have evidence, maybe my evidence only was etherdelta before you can able to use it you need to import first your private key and eth address, so in that case they have an access to steal your coins ion there, in my opinion only and based on my experienced too. But for now it is an advantage to use an exchange that belong to top in the market like Houbi, coinbene, okex and others. 
1563717107
Hero Member
*
Offline Offline

Posts: 1563717107

View Profile Personal Message (Offline)

Ignore
1563717107
Reply with quote  #2

1563717107
Report to moderator
1563717107
Hero Member
*
Offline Offline

Posts: 1563717107

View Profile Personal Message (Offline)

Ignore
1563717107
Reply with quote  #2

1563717107
Report to moderator
1563717107
Hero Member
*
Offline Offline

Posts: 1563717107

View Profile Personal Message (Offline)

Ignore
1563717107
Reply with quote  #2

1563717107
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1563717107
Hero Member
*
Offline Offline

Posts: 1563717107

View Profile Personal Message (Offline)

Ignore
1563717107
Reply with quote  #2

1563717107
Report to moderator
1563717107
Hero Member
*
Offline Offline

Posts: 1563717107

View Profile Personal Message (Offline)

Ignore
1563717107
Reply with quote  #2

1563717107
Report to moderator
Oilacris
Hero Member
*****
Offline Offline

Activity: 1274
Merit: 522


★Bitvest.io★ Play Plinko or Invest!


View Profile
May 29, 2019, 12:34:29 PM
 #122

Ima be blunt, based on the fact that loads of people are still without exchanging trade pairs because the likes of binance and such have decided to close deposits indefinitely (gcse computer science and business for us teaches how to develop disaster recovery regimes) so the fact that high profit exchanges can't do it is just off.

Most of these exchanges do stuff with customers money too while on there especially if they haven't withdrawn for a long time. Coinbase, poloniex, bitmex and binance I believe will all be susceptible to this, as well as bitfinex who have already proven how great their money management strategies are (I luckily only had a dollar on there at the time of that hack)...

Hacking doesn't have to do anything with the reputation of an exchange. Any and every exchanges are prone to hacking no matter how stringent information security mechanisms they have! The reputation matters when an exchange gets hacked and how they manage the entire scenario to get back online and refund their customers.

On the recent hack on Binance, I believe they are trying really hard to get the situation under control. The owner is being upfront in communicating their plans and they have created a fund called SAFU to deal with such unforeseeable events. That's where the reputation comes from!

I honestly, agreed on you Sir that almost all exchange are really prone to hacking. But I also believed that in some other exchange there is a big possible an inside job happen. Like what happened before on etherdelta, its a decentralized platform exchange were it has been hacked many times and yet still they have a traders who used their platform though majority are afraid to use anymore. For me, there in that case I do believed that there is an inside job though I don't have evidence, maybe my evidence only was etherdelta before you can able to use it you need to import first your private key and eth address, so in that case they have an access to steal your coins ion there, in my opinion only and based on my experienced too. But for now it is an advantage to use an exchange that belong to top in the market like Houbi, coinbene, okex and others. 
You don't know on what you are saying man. Etherdelta hack was a redirection with the site not totally having the PK's of each user of the site.They are phished indirectly so you can
directly make a blame with the site that it do have an inside job but its been known that's its an attack.We do have some options though but even the most reputable ones "Binance"
do even suffer such incident that's why its better not to entrust anyone with our funds.



.
.BIG WINNER!.
[15.00000000 BTC]


▄████████████████████▄
██████████████████████
██████████▀▀██████████
█████████░░░░█████████
██████████▄▄██████████
███████▀▀████▀▀███████
██████░░░░██░░░░██████
███████▄▄████▄▄███████
████▀▀████▀▀████▀▀████
███░░░░██░░░░██░░░░███
████▄▄████▄▄████▄▄████
██████████████████████

▀████████████████████▀
▄████████████████████▄
██████████████████████
█████▀▀█▀▀▀▀▀▀██▀▀████
█████░░░░░░░░░░░░░████
█████░░░░░░░░░░░░▄████
█████░░▄███▄░░░░██████
█████▄▄███▀░░░░▄██████
█████████░░░░░░███████
████████░░░░░░░███████
███████░░░░░░░░███████
███████▄▄▄▄▄▄▄▄███████

██████████████████████
▀████████████████████▀
▄████████████████████▄
███████████████▀▀▀▀▀▀▀
███████████▀▀▄▄█░░░░░█
█████████▀░░█████░░░░█
███████▀░░░░░████▀░░░▀
██████░░░░░░░░▀▄▄█████
█████░▄░░░░░▄██████▀▀█
████░████▄░███████░░░░
███░█████░█████████░░█
███░░░▀█░██████████░░█
███░░░░░░████▀▀██▀░░░░
███░░░░░░███░░░░░░░░░░

██░▄▄▄▄░████▄▄██▄░░░░
████████████▀▀▀▀▀▀▀██
█████████████░█▀▀▀█░███
██████████▀▀░█▀░░░▀█░▀▀
███████▀░▄▄█░█░░░░░█░█▄
████▀░▄▄████░▀█░░░█▀░██
███░▄████▀▀░▄░▀█░█▀░▄░▀
█▀░███▀▀▀░░███░▀█▀░███░
▀░███▀░░░░░████▄░▄████░
░███▀░░░░░░░█████████░░
░███░░░░░░░░░███████░░░
███▀░██░░░░░░▀░▄▄▄░▀░░░
███░██████▄▄░▄█████▄░▄▄

██░████████░███████░█
▄████████████████████▄
████████▀▀░░░▀▀███████
███▀▀░░░░░▄▄▄░░░░▀▀▀██
██░▀▀▄▄░░░▀▀▀░░░▄▄▀▀██
██░▄▄░░▀▀▄▄░▄▄▀▀░░░░██
██░▀▀░░░░░░█░░░░░██░██
██░░░▄▄░░░░█░██░░░░░██
██░░░▀▀░░░░█░░░░░░░░██
██░░░░░▄▄░░█░░░░░██░██
██▄░░░░▀▀░░█░██░░░░░██
█████▄▄░░░░█░░░░▄▄████
█████████▄▄█▄▄████████

▀████████████████████▀




Rainbot
Daily Quests
Faucet
Pages: « 1 2 3 4 5 6 [7]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!