You guys think coins lost were just deposited there to trade?
I bet a big amount was just stored in there.
As I said, lets go back to basics.
Btw, Bitcoin QT wallet is the way to go.
Topic: Big amount of coins on Online Wallets! (Read 1149 times)
Well to be fair to traders, you can't really trade from a remote wallet. The coins have to be in an exchange wallet and ready to buy/sell frequently. The price swings so fast, and sending BTC from a remote wallet to an exchange wallet can take anywhere from 5-10 mins to in some cases an hour. By the time you are ready to sell them you may have missed the opportunity.
I can't feel too sorry for traders... the REASON these short term opportunities exist is because careful people keep their coins offline. If you didn't factor this risk into your calculations you made a bad trading mistake.
I feel sorry for newbies who read a few online articles, bought a few coins on Gox and just left them there (for a variety of reasons, time being one)
I am pretty much happy with my Bitcoin Armory ... I have a complete off line wallet on my Ubuntu Privacy Remix distro ( modified kernel ensures that no network hardware can connect to the Internet ) My pgp key is on 2 factor smartcard ( http://www.g10code.com/p-card.html ) ... also my TrueCrypt plausible deniable volume
all complete off line ...
all complete off line ...
Agreed.
Of course it would help if the bitcoin-qt wallet backup story were not so screwed up. ( Possible to lose coins even when you have a valid wallet backup if you are sending a lot of payments and new change addresses are generated. Affects every altcoin too I believe. )
So the lesson there is backup your wallet regularly. Not just once.
Of course it would help if the bitcoin-qt wallet backup story were not so screwed up. ( Possible to lose coins even when you have a valid wallet backup if you are sending a lot of payments and new change addresses are generated. Affects every altcoin too I believe. )
So the lesson there is backup your wallet regularly. Not just once.
People are lazy and those coins were there for a long time. 
Gox fucked a lot of people over.
This is out of discussion.
I do not have to repeat that I am sorry for people losses.
Well to be fair to traders, you can't really trade from a remote wallet. The coins have to be in an exchange wallet and ready to buy/sell frequently. The price swings so fast, and sending BTC from a remote wallet to an exchange wallet can take anywhere from 5-10 mins to in some cases an hour. By the time you are ready to sell them you may have missed the opportunity.
While the point about security and online wallets can't be stressed enough, this is not time to blame the victims.
Gox fucked a lot of people over.
The end.
(I have no coins or fiat on Gox btw.)
Gox fucked a lot of people over.
The end.
(I have no coins or fiat on Gox btw.)
I get crazy when people come up saying they had bunchs of coins on Gox and cannot access their stack.
You had 100 BTC in Gox? 500, 1000, 8K? You guys are killing me!
Who transfers and (even worst!) keeps that amounts on an online exchange without guarantee?
It is an online wallet after all ...
Lets go back to basics guys.
You had 100 BTC in Gox? 500, 1000, 8K? You guys are killing me!
Who transfers and (even worst!) keeps that amounts on an online exchange without guarantee?
It is an online wallet after all ...
Lets go back to basics guys.
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