thanks for the warnings.
thanks for the warnings.indeed, it is VERY easy to "buy" bitcoins and crypto currencies on BTC market or any other platform, but you do not have any key, you just buy and sell them, if anyone get into your account (finding your password or hacking into the platform, they can then transfer your crypto currencies (steal them) this has happened in other platforms in the past and what can you do then?
Same as banks, but cryptos are harder to track by law forces, and the crypto platform exchanges do not have the backbone of CBA or other banks: we can all reasonably assume that if NAB get hacked and your account is emptied, you will get your money back; not with BTC market or any of the others..
So I move some of my cryptos on a USB ledger.
Is it safer?
well it is at risk of thief, fire, physical loss, etc but that is my responsibility.
I would not keep sizeable amount of money under crypto form stored by a platform for too long;
Just my view, very open to discussion there
I would VERY MUCH like to be able to move my BTC in a safe repository: imagine, sending to UBS , against a yearly fee..I would jump on the opportunity, but would have to be a trusted bank in a trusted legislation (aka not Australia, EU or US of A)
i don't fully get how usb ledgers workindeed, it is VERY easy to "buy" bitcoins and crypto currencies on BTC market or any other platform, but you do not have any key, you just buy and sell them, if anyone get into your account (finding your password or hacking into the platform, they can then transfer your crypto currencies (steal them) this has happened in other platforms in the past and what can you do then?
Same as banks, but cryptos are harder to track by law forces, and the crypto platform exchanges do not have the backbone of CBA or other banks: we can all reasonably assume that if NAB get hacked and your account is emptied, you will get your money back; not with BTC market or any of the others..
So I move some of my cryptos on a USB ledger.
Is it safer?
well it is at risk of thief, fire, physical loss, etc but that is my responsibility.
I would not keep sizeable amount of money under crypto form stored by a platform for too long;
Just my view, very open to discussion there
I would VERY MUCH like to be able to move my BTC in a safe repository: imagine, sending to UBS , against a yearly fee..I would jump on the opportunity, but would have to be a trusted bank in a trusted legislation (aka not Australia, EU or US of A)
You also get a set of keywords you can use to rebuilt that key should your usb get damaged or lost.i don't fully get how usb ledgers work
the computer runs a trusted program on the ledger to generate a key. this private key is stored on the usb ledger ...
but if you lose your usb ledger, or the data gets jumbled somehow, how do you get the private key back??? it just seems better to have it down on paper or plastic paper as well, and not just on a usb stick.
yeah, it's interesting alright . wouldn't mind if it did drop. get a chance to rebuy it at a better priceBTC fluttering at the $50k mark. Moving quickly around that mark (I suspect there is a bunch of buying/sell pressure at this point that is moving it above/below).
Interested to see where it goes from here (my SL is now at $46k)
BTCUSD 4H
View attachment 120211
after all those hours i learnt that i forgot to confirm through an email (or didn't see an email), but the transfer did go through in the end.You also get a set of keywords you can use to rebuilt that key should your usb get damaged or lost.
Stop dissing Tulips.... errrr I mean crypto, stop dissing crypto.I hadn't given much thought to crypto currency until yesterdays converesation with my optemtrist. But since then I have to say it looks like one gigantic, fast moving scam.
In that context I believe there could be a very quick blow off/crash across the crypto currency marketplace. So the next question is -
What would be the impact of such a crash on more traditional security/financial markets ? How exposed is the banking system to crypto currency ? Are brokers who also handle shares likely to fall off the perch in such an event ? What are the risks in the derivative market with these plays ? At what stage, if ever, will the SEC or Central Banks challenge the runaway madness of crypto currency and impose direct regulation ?
This analysis examines some of these issues and raises further concerns.
no impact. few players are in on itI hadn't given much thought to crypto currency until yesterdays converesation with my optemtrist. But since then I have to say it looks like one gigantic, fast moving scam.
In that context I believe there could be a very quick blow off/crash across the crypto currency marketplace. So the next question is -
What would be the impact of such a crash on more traditional security/financial markets ? How exposed is the banking system to crypto currency ? Are brokers who also handle shares likely to fall off the perch in such an event ? What are the risks in the derivative market with these plays ? At what stage, if ever, will the SEC or Central Banks challenge the runaway madness of crypto currency and impose direct regulation ?
This analysis examines some of these issues and raises further concerns.
what wallet were you using?just to update i've had some success with other key pairs i got from different websites, and various software wallets.
just disappointing that on mobile app (using this for testing) seems to hide the private key (after doing a sweep), and then charge a fair bit for tratransfers
what wallet were you using?
A couple of years ago, i did use paper wallet and it worked but was cumbersome and easily error prone.i now used a usb like Ledger.
this is where i generated the paper wallet with public address copied in my signature . there is about 15 dollars there, and i have the private key, but can't seem to register it or withdraw it from electrum/other wallets. They record no funds in it. I'll try again soon.
I'm starting to think that as well. u just hide the magical words. I assume you can just derive them any time by googling the BIB protocol ...A couple of years ago, i did use paper wallet and it worked but was cumbersome and easily error prone.i now used a usb like Ledger.
Dyor but i believe that is an easier way and reasonably safe
From ledger stock to btc market, this evening $17 usd to transfer 0.2 btcIsn't there a transfer fee you get slugged with?
Is it because there isn't enough in the wallet?
I usually only transfer around eth or xrp as they are fast. In xrp case I think its 15xrp that needs to be left in the wallet. Eth had fees on the transfer.
807566
Bitcoin was slow and expensive from memory.
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