Always monitor your coins - Always be secured! - page 2.

mk4

legendary

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Merit: 3873

Paldo.io 🤖

Quote from: mocacinno on April 30, 2019, 07:23:16 AM

This is why i don't fully agree with your OP: if you monitor your coins, you don't gain a lot of security... As soon as somebody steals from you, your funds are gone wether you monitored them or not...

Pretty much this. Unless the hacker is stupid enough to send the stolen BTC straight to an exchange like Coinbase, then you might have a slight chance.

What's better? Actually learn how to store your coins in a safe manner, before actually purchasing them. Purchase a reputable hardware wallet, write down your seed on paper(s), and don't be a dunce and flaunt to everyone that you hold bitcoin(unless you want to be kidnapped or something).

mocacinno

legendary

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https://merel.mobi => buy facemasks with BTC/LTC

One of the key concepts of bitcoin and allmost all other altcoins is immutability. This basically means that if your transaction is valid and included in a valid block that has been broadcasted and accepted by most nodes of the network, the transaction becomes irreversible. This is certainly the case once a couple valid of blocks have been found and added to the blockchain after the block including the transaction the thief generated to rob you.

This is why i don't fully agree with your OP: if you monitor your coins, you don't gain a lot of security... As soon as somebody steals from you, your funds are gone wether you monitored them or not...

The only difference between monitoring and not monitoring might be that if you monitor, and for some reason you have used the same xprv or private key on multiple chains, you might be able to saveguard unspent outputs on different chains before the attacker is able to spend them... This *might* be the case for those forked chains, or for multi-coin wallets.

I do agree with your final comment: never store your coins on exchanges, casino wallets, online wallets,...

richminded

sr. member

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Merit: 268

One way to protect your coin is to monitor it, at least everyday! because hackers are in this market waiting for some opportunity to steal your coin.
Protecting it is a must, and don't forget to have a lot of back-up on every keys that you have.

Newbies should not skip this process, look for a better wallet, better system and never hold too much coins on the exchanges!
Your wallet is important as you, secured it well!

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