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Topic: Are CoinBase, Kraken, and Poloniex Doomed to Fail? - page 2. (Read 1708 times)

legendary
Activity: 3248
Merit: 1179
"The Bigger They Are, the Harder They Fall" I don't think this work just for exchangers. Every big company is potential target. BitFinex is hacked and money is stolen that is truth, but as we see BitFinex is slowly recovering, and price is going up (there is a thread some people thing regaining trust is reason of the increase). I think people are aware of that fact, everything can be stolen or hacked. With good equipment and smart people there is not enough safe place in this world.
I don`t know are these exchange sites are doomed to fail, if they invest in their security probably they will have more chances to survive.
legendary
Activity: 1120
Merit: 1008
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I completely agree with
Quote
The best place to hold your assets is in cold storage — keeping your private keys off the Internet when you’re not using them.
However holding bitcoin in cold storage and trying to earn profit from trading daily is not quite possible as in trading sometime your assets will be in the form of another alt or your bitcoin stucked in margin positions. SO without storing bitcoin in exchanger and trusting their security we can't trade and make profit.
hero member
Activity: 812
Merit: 500
Are CoinBase, Kraken, and Poloniex Doomed to Fail?

If you’re reading this, you’re probably aware that over the summer an exchange called BitFinex was hacked and lost about a third of the value stored on the exchange. You may have your cryptocurrency and tokens on one of the large exchanges, like CoinBase, Kraken, Poloniex, etc. That means you have a password to the exchange, and the exchange holds your private keys. This short essay is my attempt to explain why any successful exchange that aggregates customer keys is simply one that hasn’t been hacked yet...

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a

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