Exchangers Are safer then Banks and wallets - page 3.

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Quote from: Fullbear2222 on November 10, 2022, 12:44:21 PM

Quote from: ScamViruS on November 10, 2022, 12:12:13 PM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Binance have done this many times and i know there someone to watch over my wealth.
Private wallets they can be hacked but nobody dont refund.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.

People do business in exchangers we stake we trade we use leverage it's like NASA or hospital you cant just close it.
That's why big guys are close to exchangers binance is backed up wall Street.
If something happens then who gona belive in crypto anymore ??
If they close it they get coins and USDT but those are worthless without people who's using it.
It's a whole big crypto economy USDT USDC busd and btc and other crypto you cant just close it it went too far.

So it's like electricity or water system.

After believing all these backup stories, think about how correct it is to think of the exchange as a bank. Exchanges are the worst place to hold funds, any exchange is safe until the black chapter of that exchange comes out. Any experienced trader, investor tries their best to keep their funds safe. I can't keep my funds anywhere on someone's word, anything can happen at any time and they can refuse to return my funds.

So be careful not only binance but any exchange. I have no confidence in your words, I think all this is not so easy as you think. So give priority to caution rather than influencing people in the wrong direction.

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Quote from: ScamViruS on November 10, 2022, 12:12:13 PM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Binance have done this many times and i know there someone to watch over my wealth.
Private wallets they can be hacked but nobody dont refund.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.

People do business in exchangers we stake we trade we use leverage it's like NASA or hospital you cant just close it.
That's why big guys are close to exchangers binance is backed up wall Street.
If something happens then who gona belive in crypto anymore ??
If they close it they get coins and USDT but those are worthless without people who's using it.
It's a whole big crypto economy USDT USDC busd and btc and other crypto you cant just close it it went too far.

So it's like electricity or water system.

ScamViruS

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Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Binance have done this many times and i know there someone to watch over my wealth.
Private wallets they can be hacked but nobody dont refund.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

This is completely wrong. Binance is currently refunding their customers after any incident, as long as they have the amount of funds they were able to refund. But if they face a massive any incident that puts them in such situation then they will have no words except to say "Sorry" to their customers. Then the trader will be stuck there. So be careful and don't trust any exchange blindly, the mighty today can also be the loser tomorrow.

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Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.
Binance have done this many times and i know there someone to watch over my wealth.
Private wallets they can be hacked but nobody dont refund.

We live of generation of refund, in crypto main thing Are refund what i did learn about.

Exchanges are the worst place to keep your funds. Op you have wrong impression on wallets. Use hardware wallets or probably Ledger to store your funds. These are the best and secure method to keep your funds safe. The reason for which I am saying that exchanges are not safe is that, it don’t give complete access to our own coins, and by somehow they have access to our coins. Moreover already there are many examples in the history where there was security breach in exchanges and for which the coins are stolen from exchanges.

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https://bit.ly/387FXHi lightning theory

If your coins indeed were safe with exchanges, why have all suspended withdrawals (for 24 hours plus) due to unscheduled maintenance (I'm not sure about coinbase but I remember binance having a 48 hour one - some exchanges have been known to start manually confirming withdrawals too which doesn't make sense - if it was because you expected some accounts could cheat, why wouldn't you just tell them specifically and not affect everyone else). I'd expect any problem exchange side to be fixed within 2 hours or for them to have a float (/hot wallet) of funds they can still use to process withdrawals and don't mine losing in case a vulnerability persists.

The main reason exchanges have closed so far is due to mismanagement of funds, don't trust when there's no reason to. It might not take many conspiring individuals to completely empty an exchanges wallet in future too.

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@OP, what was your worst experience from a bank? Afaik, banks are closer to government oversight and they're more responsible for your money.
One case binance may consider you to retract your remarks^[1]. Binance in some clauses follows the rules of crypto mechanisms in general such as transactions are irreversible, withdrawal speed depends on network traffic, etc.

1. https://bitcointalksearch.org/topic/binance-stuck-my-withdrawal-5370726

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Quote from: NeuroticFish on November 10, 2022, 09:59:07 AM

Quote from: stompix on November 10, 2022, 09:46:14 AM

Worse, you're talking to the new polo7 and 325btc clones, when they taking a break and are not talking to each other.

Interesting. Then we have a ban evader.
I've added him to my ignore list and will also report him.

I dont agree i belive Same things becouse i went Same economy course with polo7 he knows economy very well so i learn from Him but 325 i dont know about probably 325 might be student of polo7

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Quote from: stompix on November 10, 2022, 09:46:14 AM

Worse, you're talking to the new polo7 and 325btc clones, when they taking a break and are not talking to each other.

Interesting. Then we have a ban evader.
I've added him to my ignore list and will also report him.

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Quote from: stompix on November 10, 2022, 09:46:14 AM

Quote from: NeuroticFish on November 10, 2022, 09:26:55 AM

But I seem to talk with walls, so I let you in your dream world.

Worse, you're talking to the new polo7 and 325btc clones, when they taking a break and are not talking to each other.
The same ideas he has posted a hundred times with each of his identities, cex are good, stablecoins are better than bitcoin and better than fiat, the economy that is going to be destroyed and can be saved with printing tokens, etc etc.

Quote from: Polo7 on October 04, 2020, 03:55:18 PM

Cryptocurrency Exchangers are the ones who is motivated to keep our money in safe!
Otherwise People take a money out of there!
So yes They are our Banks!!
New generation banks
Cryptocurrency Exchangers fully recover all the losses!!
If anyone Will complain about cryptocurrency Exchanger stolen funds its a red Alert for all cryptocurrency generally When People Don't trust They just Go away from cryptocurrency Right Now its safe no problems!!

So cryptocurrency must be secure our wealth Very seriously wich They do it

Also, just as a heads-up he also has another alt that is just posting the same garbage and they have gone one step further congratulating each other on their views
https://bitcointalksearch.org/topic/loan-is-key-to-wealth-here-is-how-without-liability-5420265

Quote from: Rikafip on November 10, 2022, 09:25:17 AM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

You have to be kidding right, after everything that has happened lately and with the exchanges track record so far.

No, he's not kidding and he's not even trolling, he actually believes this crap, just as he believes a lot of the stuff he has posted with both this new one and his other three to five as I've lost count of his accounts. So just like NeuroticFish fish above, sorry to bring you the bad news that you've completely wasted your time with him, and also, don't try further, it's impossible to have a discussion, you're talking to the walls and he is yelling back at you.

I have group of traders who have Same mindset together we can win.

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Quote from: stompix on November 10, 2022, 09:46:14 AM

No, he's not kidding and he's not even trolling, he actually believes this crap, just as he believes a lot of the stuff he has posted with both this new one and his other three to five as I've lost count of his accounts.

Ah I haven't realized that I was actually talking to the latest polo7/325btc alt account, thanks for the heads up. Since talking to him is like playing a pigeon chess and I am too old for that crap, I just added him on my ignore list.

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Quote from: NeuroticFish on November 10, 2022, 09:26:55 AM

But I seem to talk with walls, so I let you in your dream world.

Worse, you're talking to the new polo7 and 325btc clones, when they are taking a break and are not talking to each other.
The same ideas he has posted a hundred times with each of his identities, cex are good, stablecoins are better than bitcoin and better than fiat, the economy that is going to be destroyed and can be saved with printing tokens, etc etc.

Quote from: Polo7 on October 04, 2020, 03:55:18 PM

Cryptocurrency Exchangers are the ones who is motivated to keep our money in safe!
Otherwise People take a money out of there!
So yes They are our Banks!!
New generation banks
Cryptocurrency Exchangers fully recover all the losses!!
If anyone Will complain about cryptocurrency Exchanger stolen funds its a red Alert for all cryptocurrency generally When People Don't trust They just Go away from cryptocurrency Right Now its safe no problems!!

So cryptocurrency must be secure our wealth Very seriously wich They do it

Also, just as a heads-up he also has another alt that is just posting the same garbage and they have gone one step further congratulating each other on their views
https://bitcointalksearch.org/topic/loan-is-key-to-wealth-here-is-how-without-liability-5420265

Quote from: Rikafip on November 10, 2022, 09:25:17 AM

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

You have to be kidding right, after everything that has happened lately and with the exchanges track record so far.

No, he's not kidding and he's not even trolling, he actually believes this crap, just as he believes a lot of the stuff he has posted with both this new one and his other three to five as I've lost count of his accounts. So just like NeuroticFish above, sorry to bring you the bad news that you've completely wasted your time with him, and also, don't try further, it's impossible to have a discussion, you're talking to the walls and he is yelling back at you.

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Quote from: Fullbear2222 on November 10, 2022, 09:22:39 AM

Nothing wrong with Fiat as long as they print it and give to me

And you're wrong again. A lot is wrong with fiat (it's an overly manipulated and inflationary IOU that is based on you trusting on institutions that are not as trustable as they are advertised). But I seem to talk with walls, so I let you in your dream world.

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Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

We live of generation of refund, in crypto main thing Are refund what i did learn about.

What if Binance get hacked and i don't mean your personnal wallet on their exchange, the entire exchange will there still be a refund? And even if they do it will take a very long time and obviously getting the exact worth of the coin left in their exchange is impossible.

Hardware wallet gives full control and decentralisation it gives this peace one gets when they know their funds is in safe hands. When seeking a wallet to save coin never trust CEXs they can disappear at any time even Binance is not too big to abscond. Imagine if multiple users get their account hacked in one day picture how long it will take to get a refund....

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Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.

You have to be kidding right, after everything that has happened lately and with the exchanges track record so far.

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Becouse If something happens they always refund losses.

Yeah, right. They may cover some smaller loses due hacks, but when shit hits the fan (like in FTX case) you will see how they "always refund losses".

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Binance have done this many times and i know there someone to watch over my wealth.

Yes, what we would do without dear CZ and him watching over our wealth.

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Private wallets they can be hacked but nobody dont refund.

Yes, because if you get hacked it no one else's fault by your own. Man up, take responsibility for your actions instead expecting someone else to do it better for you.

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

We live of generation of refund, in crypto main thing Are refund what i did learn about.

Then unfortunately you learned nothing.

Quote from: Fullbear2222 on November 10, 2022, 09:22:39 AM

Nothing wrong with Fiat as long as they print it and give to me

Ever heard for something called inflation?

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Quote from: NeuroticFish on November 10, 2022, 09:15:59 AM

Quote from: Fullbear2222 on November 10, 2022, 09:13:17 AM

Crypto refunds are more easy they can create coin

I don't know, maybe Binance can create BNB, maybe FTX could create FTT. But they cannot create Bitcoin, they cannot create Ethereum, they cannot care the honest valuable coins. They're not central banks and the coins are not just "printed paper". That's why we are leaving the fiat behind.
Even more, if they do create their (shit)coins out of thin air to pay their customers, those coins will become worthless as soon as people find out.

Nothing wrong with Fiat as long as they print it and give to me

Im not against fiat system Im against that there is limited options to get those Fiat currency in my pocket
I don't Care about If its worth or not i care only how any currency come in my pocket more is good

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Quote from: Fullbear2222 on November 10, 2022, 09:13:17 AM

Crypto refunds are more easy they can create coin

I don't know, maybe Binance can create BNB, maybe FTX could create FTT. But they cannot create Bitcoin, they cannot create Ethereum, they cannot care the honest valuable coins. They're not central banks and the coins are not just "printed paper". That's why we are leaving the fiat behind.
Even more, if they do create their (shit)coins out of thin air to pay their customers, those coins will become worthless as soon as people find out.

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Quote from: NeuroticFish on November 10, 2022, 09:01:38 AM

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

Well we all know much now FTX people will get refund so yes safe

Sorry to say, but people's wishes is not what reality is. As much as I hope FTX will refund, I fear that the chances that not to happen are... increasingly high.

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.

Actually there were plenty of cases there were no refunds, even in the more recent history.
Even more, at least in Europe the banks are regulated and the deposits until 100k EUR are refunded by the state, no matter what. By the law. This doesn't happen with exchanges and they will refund only if they can (not insolvent) and want to (eg if not under some odd jurisdiction they can get away without paying).

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

Binance have done this many times and i know there someone to watch over my wealth.

Binance is one of the exchanges. For now, they did refund and this increased their popularity. What will happen in the future or with other exchanges... I would not take chances.

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

Private wallets they can be hacked but nobody dont refund.

Private wallets are ... private responsibility. Even if you're not tech inclined you can buy a hardware wallet and your funds are pretty much safe (unless you publish online the backup seed).

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

We live of generation of refund, in crypto main thing Are refund what i did learn about.

You live in a dream world. I wish your dreams come true, but I fear that if you continue on this path, sooner or later a cold shower awaits you.

Crypto refunds are more easy they can create coin

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Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

Well we all know much now FTX people will get refund so yes safe

Sorry to say, but people's wishes is not what reality is. As much as I hope FTX will refund, I fear that the chances that not to happen are... increasingly high.

Quote from: Fullbear2222 on November 10, 2022, 07:16:39 AM

Exchangers like binance Are safer then banks and walllets.
Becouse If something happens they always refund losses.

Actually there were plenty of cases there were no refunds, even in the more recent history.
Even more, at least in Europe the banks are regulated and the deposits until 100k EUR are refunded by the state, no matter what. By the law. This doesn't happen with exchanges and they will refund only if they can (not insolvent) and want to (eg if not under some odd jurisdiction they can get away without paying).

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

Binance have done this many times and i know there someone to watch over my wealth.

Binance is one of the exchanges. For now, they did refund and this increased their popularity. What will happen in the future or with other exchanges... I would not take chances.

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

Private wallets they can be hacked but nobody dont refund.

Private wallets are ... private responsibility. Even if you're not tech inclined you can buy a hardware wallet and your funds are pretty much safe (unless you publish online the backup seed).

Quote from: Fullbear2222 on November 10, 2022, 08:52:22 AM

We live of generation of refund, in crypto main thing Are refund what i did learn about.

You live in a dream world. I wish your dreams come true, but I fear that if you continue on this path, sooner or later a cold shower awaits you.

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Quote from: so98nn on November 10, 2022, 08:18:01 AM

This is first time someone has come up with the idea that Exchangers are safer. We are already in the privacy driven market and there are only two things either you are the custodian or you are not the custodian of your coins. I highly doubt any exchanger would give away money for the hacks and shits to incur that loss in their own business. Unless it’s highly special and genuine case.
Define safety of your coins? In the world where we can’t even trust a penny next door you are claiming an exchanger would take care of our funds. That’s insane thought and you better upgrade it or it could put up wrong trust with your funds in someone’s hand.

Well we all know much now FTX people will get refund so yes safe

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This is first time someone has come up with the idea that Exchangers are safer. We are already in the privacy driven market and there are only two things either you are the custodian or you are not the custodian of your coins. I highly doubt any exchanger would give away money for the hacks and shits to incur that loss in their own business. Unless it’s highly special and genuine case.
Define safety of your coins? In the world where we can’t even trust a penny next door you are claiming an exchanger would take care of our funds. That’s insane thought and you better upgrade it or it could put up wrong trust with your funds in someone’s hand.

Topic: Exchangers Are safer then Banks and wallets - page 3. (Read 612 times)