Pages:
Author

Topic: . (Read 3140 times)

legendary
Activity: 1400
Merit: 1013
.
March 01, 2014, 01:12:29 AM
#45
Agreed.  Even after the theft, within one minute of talking to someone about what happened at Gox I can gauge how much they know about BTC the protocol.

1.  They mispronounce it BIT CON, not to be sarcastic either.
2.  They say "Its too bad those bitcoins didn't work."  What?
3.  They refer to BTC as "Something drug cartels came up with to facilitate drug deals and launder money."

When Tulips come up I feel like wringing someone's stupid, ignorant neck, really.  And the concept of "buying power" and how it relates to deflationary vs inflationary currency is just straight up too difficult for some people to comprehend.
This is all very good.

The world will be a better place the fewer Bitcoins people like that end up holding. The future does not belong to them.
full member
Activity: 140
Merit: 100
Put your trust in MATH.
March 01, 2014, 01:02:43 AM
#44
Agreed.  Even after the theft, within one minute of talking to someone about what happened at Gox I can gauge how much they know about BTC the protocol.

1.  They mispronounce it BIT CON, not to be sarcastic either.
2.  They say "Its too bad those bitcoins didn't work."  What?
3.  They refer to BTC as "Something drug cartels came up with to facilitate drug deals and launder money."

When Tulips come up I feel like wringing someone's stupid, ignorant neck, really.  And the concept of "buying power" and how it relates to deflationary vs inflationary currency is just straight up too difficult for some people to comprehend.
sr. member
Activity: 280
Merit: 250
Knowledge is Power
March 01, 2014, 12:49:52 AM
#43
So in other words, do all the same things that people have been telling you to do countless times now. I only got into bitcoin in Nov. of last year but I made 100% sure to reduce any chances of losing my bitcoins BEFORE I made my purchase. I learned about wallets, exchanges, etc. It sucks but the people who lost the most from this were willfully ignorant of the knowledge.
member
Activity: 97
Merit: 10
March 01, 2014, 12:34:34 AM
#42
For those who don't want to read the text:

1. Keep your bitcoins on your wallet, not a online one.
2. Preferably on a cold wallet.
3. Split the bitcoins into multiple wallets for more security if needed.

the lesson will be that the general public won't get into something when these two elements are met (1) they don't understand it and (2) now realize that there is a distinct chance of losing their money, not bc of the volatility, but by a theft, fraud and/or negligence which they do not understand either.
full member
Activity: 252
Merit: 100
February 28, 2014, 09:39:32 PM
#41
I you wanna trade, you have to use an exchange. So it could happen to any of us. Imagine you had all your BTC on Gox? I would drive crazy. I saw some members of the community organized an action to support the Mt. Gox victims. http://www.solidarity4mtgoxvictims.com:800/

When i trade i use BTC-e.com. Do you guys think this exchange is safer?


Thanks
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
February 28, 2014, 08:51:38 PM
#40
keep most of your coins on an online wallets with no 2 factor and crappy password.

sent money to an insolvent exchange to get some cheap coins.

never install or update your antivirus and download crappy stuff like dogecoin.
legendary
Activity: 1456
Merit: 1000
February 28, 2014, 06:20:41 PM
#39
proper regulated exchanges should use client accounts which are kept safe from their day-to-day expense accounts.

Any collapse and client money is kept safe and it still belongs to you. administrators called in to run exchanges that go bankrupt can't touch it.

we should demand exchanges use off-line client accounts.
hero member
Activity: 622
Merit: 500
February 28, 2014, 02:47:53 PM
#38
If you aren't the sole controller of your private keys, you don't have any bitcoins.

Keep spreading the word!

Quoted to spread the word.  Holiday has been saying this for a long time now.
sr. member
Activity: 455
Merit: 250
February 28, 2014, 02:46:32 PM
#37
Don't put all your eggs in one basket?
legendary
Activity: 1666
Merit: 1000
February 28, 2014, 02:07:43 PM
#36
I agree with everything you say except for one thing:

These are not lessons from the mtgox collapse. They are lessons from the mybitcoin and bitomat collapses (and others) more than 2 years ago.

In fact, the are lessons from basic common sense.
More transparency would be appreciated. Regularly auditing customer assets, for example. But because of human deficiency, this is a disadvantage to the trading platform, as vircurex is showing as an example. This is a not solvable intrinsic problem, that will repeat in the future. This is also an example, why regulation can be necessary.

Without regulation, the damage can only be limited, if trading platforms keep small and distributed. Or if humans react more reasonable on honest platform information. So withdraw all unnecessary money from platforms, for they crash sooner than later.
legendary
Activity: 938
Merit: 1001
bitcoin - the aerogel of money
February 28, 2014, 01:36:57 PM
#35
I agree with everything you say except for one thing:

These are not lessons from the mtgox collapse. They are lessons from the mybitcoin and bitomat collapses (and others) more than 2 years ago.

In fact, the are lessons from basic common sense.
member
Activity: 70
Merit: 10
February 28, 2014, 12:20:29 PM
#34
Keeping bitcoin in cold storage is the best option. If you want to cashout do it slowly like 5% per day. NEver trust anyone.
legendary
Activity: 1400
Merit: 1013
February 28, 2014, 12:11:50 PM
#33
It's 1994 and you're whining that the Internet will never go anywhere because it's too complicated for Grandma to install Winsock and mess with AT commands.

You just lost 90% of the people here  Grin
Correct, and the 10% who would get it are still curled up in the fetal position after reading the word "winsock".
sr. member
Activity: 366
Merit: 250
February 28, 2014, 11:47:10 AM
#32
For those who don't want to read the text:

1. Keep your bitcoins on your wallet, not a online one.
2. Preferably on a cold wallet.
3. Split the bitcoins into multiple wallets for more security if needed.
Thank you. The post is rather useless, this has been said and posted thousands of times. Nobody listens to the first one.

even keeping in ur wallet is dangerous
legendary
Activity: 942
Merit: 1026
February 28, 2014, 11:45:55 AM
#31
It's 1994 and you're whining that the Internet will never go anywhere because it's too complicated for Grandma to install Winsock and mess with AT commands.

You just lost 90% of the people here  Grin
legendary
Activity: 1400
Merit: 1013
February 28, 2014, 11:39:21 AM
#30
Yeah right, tell your grandma to use bitcoin client or use paper wallets...
bitcoin will remain a geek speculation as long as we don't have trustworthy bitcoin banks.
It's 1994 and you're whining that the Internet will never go anywhere because it's too complicated for Grandma to install Winsock and mess with AT commands.
full member
Activity: 140
Merit: 100
Put your trust in MATH.
February 28, 2014, 11:36:22 AM
#29
HELLO???  Don't you people realize that people sent GOX loads of money only when the price dropped like a rock, trying to buy cheap coins?  It was a calculated risk to triple or quadruple bitcoin holdings.
That's simply worse than gambling, as it was an incalculable risk.

Yeah, its called going ALL IN on the RIVER.

Except, it wasn't the card needed to win a big pot, it was a frickin deuce.
legendary
Activity: 1666
Merit: 1000
February 28, 2014, 11:35:11 AM
#28
Yeah right, tell your grandma to use bitcoin client or use paper wallets...
bitcoin will remain a geek speculation as long as we don't have trustworthy bitcoin banks.
I believe a wallet like multibit is already usable by my grandma.
legendary
Activity: 1666
Merit: 1000
February 28, 2014, 11:33:09 AM
#27
HELLO???  Don't you people realize that people sent GOX loads of money only when the price dropped like a rock, trying to buy cheap coins?  It was a calculated risk to triple or quadruple bitcoin holdings.
That's simply worse than gambling, as it was an incalculable risk.
sr. member
Activity: 434
Merit: 250
In Hashrate We Trust!
February 28, 2014, 11:32:53 AM
#26
Yeah right, tell your grandma to use bitcoin client or use paper wallets...
bitcoin will remain a geek speculation as long as we don't have trustworthy bitcoin banks.
Pages:
Jump to: