DannyHamilton
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Activity: 3472
Merit: 4798
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February 14, 2015, 05:20:17 PM |
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I agree that its possible there are only two situations.
But as for (2), I wouldn't say that the exchanges manipulated the user to send the bitcoin.
Some exhanges are considered safe and trustworthly, currently, so people use them (day traders),and if one day an attacker compromises their code or someone on the inside steals the bitcoins, I think it would be considered privatekey control loss, over the manipulated loss. But I guess it could be considered both in that event.
When I stated (2), I was intending a reputable exchange/bank, that goes rouge, compared to an outright scam exchange (like what mycoin.hk, seems to have been).
Yes, but from the moment you sent your bitcoins to a exchange, you no longer own them. You are trusting that you will get back either bitcoins or dollars, but there's no 100% certainty. So you are saying that "trusting that you will get back either bitcoins or dollars" is the manipulation? I'd say that providing a false sense of security and presenting yourself as more capable of securing bitcoin funds against loss than you actually are is the manipulation. |
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AgentofCoin
Legendary
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Activity: 1092
Merit: 1001
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February 14, 2015, 05:28:11 PM |
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I agree that its possible there are only two situations.
But as for (2), I wouldn't say that the exchanges manipulated the user to send the bitcoin.
Some exhanges are considered safe and trustworthly, currently, so people use them (day traders),and if one day an attacker compromises their code or someone on the inside steals the bitcoins, I think it would be considered privatekey control loss, over the manipulated loss. But I guess it could be considered both in that event.
When I stated (2), I was intending a reputable exchange/bank, that goes rouge, compared to an outright scam exchange (like what mycoin.hk, seems to have been).
Yes, but from the moment you sent your bitcoins to a exchange, you no longer own them. You are trusting that you will get back either bitcoins or dollars, but there's no 100% certainty. So you are saying that "trusting that you will get back either bitcoins or dollars" is the manipulation? I'd say that providing a false sense of security and presenting yourself as more capable of securing bitcoin funds against loss than you actually are is the manipulation. So if such is all true, would the Decentralized Exchanges (which seems to be the new thing/phrase around here) be already considered manipulation? |
I support a decentralized & unregulatable ledger first, with safe scaling over time.
Request a signed message if you are associating with anyone claiming to be me.
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R2D221
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February 14, 2015, 05:30:57 PM |
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Kind of, because it can't be 100% decentralized if you involve fiat money.
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An economy based on endless growth is unsustainable.
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tss
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February 15, 2015, 04:50:27 AM |
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bitcoin is secured in a den of thieves. be warned don't trust anyone with your keys. be responsible for your own coin, that is what it was designed for.
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Cryptonitex
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February 15, 2015, 05:37:45 AM |
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Don't keep BitCoin in the hands of others. Make sure they are in a place where you trust them. Like a cold wallet that only YOU have access to.
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ozycash
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February 15, 2015, 08:41:23 PM |
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btc is secure, those that get it stolen are either inside theft or the wallet owner give away information so somebody else can use the wallet!
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cellard
Legendary
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Activity: 1372
Merit: 1252
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February 15, 2015, 11:55:44 PM |
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Hi,
I am a beginner in using bitcoin but the event is worrying.
What do you think of what happened with this bitstamp and MtGox?
Thank you for your help
It's people's fault for trusting a centralized amateur exchange. I only trust Gemini (winklevii) and its not out yet. |
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R2D221
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February 16, 2015, 12:03:02 AM |
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Hi,
I am a beginner in using bitcoin but the event is worrying.
What do you think of what happened with this bitstamp and MtGox?
Thank you for your help
It's people's fault for trusting a centralized amateur exchange. I only trust Gemini (winklevii) and its not out yet. You shouldn't trust exchanges more than necessary. I always empty my exchange accounts. |
An economy based on endless growth is unsustainable.
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