Elon Musk's dispute with a cryptocurrency wallet

hulla

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Quote from: Pmalek on February 17, 2021, 02:23:23 PM

Quote from: hulla on February 17, 2021, 01:52:24 PM

If Elon can create different of hype base message for Doge nothing stop him from doing the same as a favor for the free wallet and the last time I checked after the dispute free wallet experience 50% increased of download/user.

I doubt his intention here was to give positive advertisement to Freewallet in the same way he gave it to dogecoin and bitcoin. He publicly stated that the wallet sucks and advises his followers not to trust custodial services like that. The only interesting feature I found in the linked article is that sending coins/tokens between two Freewallet accounts (email addresses) is free.

But this wallet has an awful reputation. Check out just some of the threads accusing them of various scams:

1. Freewallet.org is a fraudster who cheated me out of 15.2BTC
2. Freewallet.org is a scam or they are just never satisfied
3. FREEWallet.org is a SCAM
4. Freewallet.org SCAM accusations - a compilation

I am aware of the wallet awful reputation and what Elon said about the wallet (free wallet) but the wallet representation reply and what Elon said after the wallet issue was resolved is definitely a statement of creating for someone like Elon who's people easily used his statement as invest advised.
He directly hypes the wallet but he does in the end

The Cryptovator

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Quote from: ?? on ??

If I were in his place, I would ask Freewallet to send 100K dogecoins to me and I would write good words about them or write bad ones.
or I would choose a reputable wallet like trustwallet.

I am not criticizing you, but most probably that's why you weren't Elon Musk. This is one kind of threat or blackmail. The funds are of Elon Musk, he shouldn't threaten to withdraw it. He has the right to move his funds any time, but since Freewallet makes trouble then Elon did the right thing by creating a public post. On the other hand, he had spreads the word that why a custodial wallet shouldn't use to hold your assets. Instead of asking them privately, Elon made it public, so all the crypto users are now aware of the Freewallet's shady behavior.

Pmalek

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Quote from: JeromeTash on February 17, 2021, 03:22:26 PM

The Last thing I remember is that he tried to use Freewallet, but they blocked his account. He took it on Twitter and complained about the account getting blocked of which freewallet quickly tried to save their asses by stating that they unblocked it

Some hours later he tweeted staying that the wallet sucks and nobody should ever use a wallet where they have no access to private keys. I am expecting that you would understand that from the last statement, that he clearly moved on from freewallet.

Your timeline is a bit off. You can check the link that was shared in the OP. Here is how it went down:

All the tweets are from February 10.
- The "Your app sucks" is the first tweet that he posted at 7:35AM.
- He then continues by saying custodial wallets should be avoided because users don't have access to their own private keys at 8:13AM.
- At 8:51AM he asks Freewallet to unlock his account.
- After they unlock it, he tweets "thanks for fixing" at 09:57AM and that is the end of the tweets exchange.

He is a smart lad so I assume he moved on to a different wallet, but we can't know for sure.

n0tailbg

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Quote from: Mart1ncrypto on February 17, 2021, 06:21:44 AM

What do you think about the dispute between Freewallet and Elon Musk over private keys? https://cryptogeek.info/en/blog/elon-musk-and-freewallet-situation
Why Elon Musk criticizes the Freewallet, but at the same time uses it?

It is not clear why Musk chose this particular wallet to store his cryptocurrency, because there are a lot of these wallets in the world. Maybe he knows what we don't know.

nelson4lov

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Quote from: Mart1ncrypto on February 17, 2021, 06:21:44 AM

What do you think about the dispute between Freewallet and Elon Musk over private keys? https://cryptogeek.info/en/blog/elon-musk-and-freewallet-situation
Why Elon Musk criticizes the Freewallet, but at the same time uses it?

Regardless of the fact that Elon Musk uses Freewallet despite knowing the disadvantages that comes with it, it doesn't change the fact that users do not have control over their own assets when using custodial wallets. You tend to spend your money only when they allow you too. Freewallet team banned Elon Musk after his initial team. It goes to show how much power over our assets that we give away when we use these wallets or services. I've seen a lot of people get locked or banned out of their accounts by these services and majority of the time, leaving them with no way to access their funds.

Despite the fact that you can still lose money with non-custodial wallet, at least you know you're at fault and step up your game.

JeromeTash

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Quote from: Mart1ncrypto on February 17, 2021, 06:21:44 AM

Why Elon Musk criticizes the Freewallet, but at the same time uses it?

Do you have proof that he still uses the wallet.
The Last thing I remember is that he tried to use Freewallet, but they blocked his account. He took it on Twitter and complained about the account getting blocked of which freewallet quickly tried to save their asses by stating that they unblocked it

Some hours later he tweeted staying that the wallet sucks and nobody should ever use a wallet where they have no access to private keys. I am expecting that you would understand that from the last statement, that he clearly moved on from freewallet.

Pmalek

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Quote from: hulla on February 17, 2021, 01:52:24 PM

If Elon can create different of hype base message for Doge nothing stop him from doing the same as a favor for the free wallet and the last time I checked after the dispute free wallet experience 50% increased of download/user.

I doubt his intention here was to give positive advertisement to Freewallet in the same way he gave it to dogecoin and bitcoin. He publicly stated that the wallet sucks and advises his followers not to trust custodial services like that. The only interesting feature I found in the linked article is that sending coins/tokens between two Freewallet accounts (email addresses) is free.

But this wallet has an awful reputation. Check out just some of the threads accusing them of various scams:

1. Freewallet.org is a fraudster who cheated me out of 15.2BTC
2. Freewallet.org is a scam or they are just never satisfied
3. FREEWallet.org is a SCAM
4. Freewallet.org SCAM accusations - a compilation

hulla

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Although custodial wallet are not advisable for every crypto currency user but I don't believe in the drama that happened between Elon Musk and the Freewallet Dev. If Elon can create different of hype base message for Doge nothing stop him from doing the same as a favor for the free wallet and the last time I checked after the dispute free wallet experience 50% increased of download/user.

The Cryptovator

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If you see deeply both are win-win situations. Elon Musk tries to express his opinion about the disadvantage of a custodial wallet. On the other hand, Freewallet trying to convince the community that they locked the account due to security reasons. As a custodial wallet, it's their responsibility to secure their user's funds, either he is a multi-billionaire or a normal user. That's why they locked the account to make sure the original owner wan to withdraw his funds. But for me, Freewallet could contact via different ways instead of lock account. It doesn't necessary to lock the account to verify the real person.

hugeblack

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I think that he needed some dogecoins for his young son, and perhaps he did not use them. Rather, he tried to show the community that although he was a famous person, they blocked his account.
Everything related to Elon Musk may be strange and incomprehensible, I do not know why media focus on what he is doing so much.

I also believe that when you google "Dogecoin wallet" the first result that appears to you is that wallet.

Generally, they are scammers

Charles-Tim

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It is not about the use of custodial wallet that is the matter, the issue is to reveal the truth, to let people know how custodial wallets are not recommended. A wallet that has no private key generated for users but generated and controlled by the third party. Who has the private key control the wallet, freewallet users can think they have control over their wallet, but they do not, it is freewallet that have the full control. If they want, they can freeze your wallet account. Unlike noncustodial wallets that generate private key to users individually which makes the individual that have the keys to control their funds independently without relying on any third party.

Mart1ncrypto

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What do you think about the dispute between Freewallet and Elon Musk over private keys? https://cryptogeek.info/en/blog/elon-musk-and-freewallet-situation
Why Elon Musk criticizes the Freewallet, but at the same time uses it?

Topic: Elon Musk's dispute with a cryptocurrency wallet (Read 156 times)