Topic: Are Your Coins Safe - page 2. (Read 405 times)
Usually the main problem is in users, they have slow secuirity. As for me, it's better to use cold wallet for your main investments. Also I trust wallets in which I can control my private keys.
It is def very scary that it might not be secure, this fear that it could just disappear one day...I just think that we need to make sure that we did everything we could and necessary to protect wallets
I am very sad if there are hackers that drain our coins. because it is very detrimental to many parties, especially for exchangers, it can make bankruptcy.
That is not possible unless you have a hacker living with you and he/she knows your password or where you kept your private keys and backup phrase ,another one is if you fall victim to a phishing scam mostly in spam email folders ,once you keep your private keys and backup phrase safe to yourself only your funds are safe
So, he must follow what you say to lost the coins he has?
Not follow, what he meant was the coins must fall under these categories before the attacker could steal their coin. Let's be real even if it's not a PoS coin there's always a possibility for you to lose your coins.@OP Bitcoin Discussion is not the appropriate place to post this thread. The article is all about altcoins that uses PoS and how they're vulnerable to a false attack.
Is it not possible that we'd wake up one day and all the coins of a network are gone. Maybe mined overnight by hackers https://cryptoinfowatch.com/proof-of-stake-attack-25-cryptocurrencies-vulnerable/
in my opinion indeed when our funds are not in the wallet that we have the private key, then there is always the possibility of hacking, because this crypto network is actually quite weak, hacking like this is the proof. No matter what we used for (PoW or PoS) the chance for being hacked are exist
My coins are safe until I don't use bad methods to store my personal data and private keys and this is always on my hand
This is a very good same precaution, but would only be valid of you coins are stored in your wallet, preferably a hard ware wallet. Your assets can be stolen if stored in exchange wallets or if you allow unauthorized extensions to your device.
In general proof of work algorithm puts emphaisis on security at the expense of scalability, it's the reverse on proof of stake algorithm.
My coins are safe until I don't use bad methods to store my personal data and private keys and this is always on my hand and my responsibility because unlike in the real world there is no once to blame but the user when the coins are lost and also there is no centralized authority like police to do investigations so the user must be very brave and focused during the use of digital wallets because one mistake can led to a huge loss
Is it not possible that we'd wake up one day and all the coins of a network are gone. Maybe mined overnight by hackers https://cryptoinfowatch.com/proof-of-stake-attack-25-cryptocurrencies-vulnerable/
So far yes, all of my coin holdings are safe. Because all cons was store in my wallet using MEW then if bitcoin mulibit.hd which I most often used and
it is already proven and was proven and tested too. But of course, stay away from the phishing site to to avoid scammer here in crypto world.
Of course it is possible, we live on a powder keg, as it will be no longer clear! One thing is clear, that as you write it will really happen.
Well it would take miners a couple of more years to mine the remaining bitcoins so i doubt any hacker would have the capability to do that overnight on any network, be it eth or even tron. They can try though hacking exchanges which will compromise a lot of people's accounts and assets. Personal assets should be well secured if it's in a hard wallet so it's up to the user on how safe they wanna get.
I think there is no any issue with bitcoin or any other altcoin wallets because most of the time they are fail safe by design developed to face any hacker but there user's always get sloppy when using and doing transactions with them specially when storing private key's and other significant information to access wallet so some end up loosing there both hard earned money and time due to hackers or criminals but these are things that can be eliminated if we use them by following good practice
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So in order for you to loose your coins you must be in the following categories;
1. You must invest in a PoS coin
2. The PoS coin you invested in must be from the ones mentioned in the article
3. The attacker must know how to implement the attacks mentioned in the article
4. The attacker must be successful in the attack
So, he must follow what you say to lost the coins he has?So in order for you to loose your coins you must be in the following categories;
1. You must invest in a PoS coin
2. The PoS coin you invested in must be from the ones mentioned in the article
3. The attacker must know how to implement the attacks mentioned in the article
4. The attacker must be successful in the attack
For me, you feel safe on your investment if you have the full power of the private key and password and it must have a 2FA google authentication and verified with Gmail that is very safe for me. If you want also safer there's a desktop wallet for cold storage.
However, it's our responsibility to keep our coins safe.
Hardwallet is the top coins in terms of security since you have the control over your private keys. Exchange wallet is also good but it will depend on the exchange that you are using and on how you protect your account. This market is not that safe because of scammers and hackers, so always have a back up plan if something bad happen to your coin.
Until and unless you have stored your coins in a wallet whose private key is only with you, your coins are safe. The article you mentioned above describes about the vulnerability of Proof of Stake coins.
There are only a few coins which are vulnerable for such attacks and the chances of those coins being owned by somebody else with the mentioned attacks is quite difficult.
So in order for you to loose your coins you must be in the following categories;
1. You must invest in a PoS coin
2. The PoS coin you invested in must be from the ones mentioned in the article
3. The attacker must know how to implement the attacks mentioned in the article
4. The attacker must be successful in the attack
So, only when all the conditions are met then possibility of your coins getting vanished is true.
You shall now know what not to do
There are only a few coins which are vulnerable for such attacks and the chances of those coins being owned by somebody else with the mentioned attacks is quite difficult.
So in order for you to loose your coins you must be in the following categories;
1. You must invest in a PoS coin
2. The PoS coin you invested in must be from the ones mentioned in the article
3. The attacker must know how to implement the attacks mentioned in the article
4. The attacker must be successful in the attack
So, only when all the conditions are met then possibility of your coins getting vanished is true.
You shall now know what not to do
I hope so, but I can’t be sure since I have no control with my private keys and its an online wallet. Well, this is a must to protect our wallet since cryptomarket are so prone for scammers and hackers. Hard wallet is better I think so I want to try it in the future since my coins are slowly growing now.
Hardware wallets and paper wallets are completely reliable except for users' omissions. It's hard to say the same thing for exchanges. There are too many factors in the exchange. First of all it must be reliable. Then mail, passwords and 2FA codes should be stored safely. Computer and mobile phone have to be clean.
Is it not possible that we'd wake up one day and all the coins of a network are gone. Maybe mined overnight by hackers https://cryptoinfowatch.com/proof-of-stake-attack-25-cryptocurrencies-vulnerable/
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