Topic: Not your Keys not your btc (Read 204 times)

I dont give f.... If my money fckd... The Exchanger owner or owners are responseble they have liability!!  My money is money  the Exchanger Administration will pay from their own pocket its so Simple


First Rule in life dont mess with others people things....!!

If decide to steal money get some balls If you dont have balls be humble

Its so simple can't put it more simple way!!
If everybody start stealing no liability and no responsebility then how to make any business?
So business must be honest, period!!

If Exchanger will steal my money... The owners of Exchanger will still maintance good life, it means they or someone have my money!
Well then they from their own pockets or bank accounts becouse I as customer I Want my money and I will not Leave the Exchanger owner alone until he or She will pay the money, for His own peace of Mind he will pay becouse he or She have other customers money so its not big deal to me others money at least the Exchanger owner will have peace of Mind and clean reputation!

So respect Honor and liability it must in business

Yeah I used to do that before, holding some of my coins on an exchange, not all. When I have coins, some of them are stored in my private wallet and the rest stays in my exchange and what I was using was Luno exchange. It was always quick for me, I can convert my Bitcoin to cash immediately and withdraw that same day, if I meet up with their withdrawal time.

I wouldn’t say it’s safe, but it saves cost for me and also saves time, but it can be risky if that exchange you’re saving those coins on should eventually get hacked. Why I said that it saves cost for me is because if I should store direct on exchange , there wouldn’t be need to be moving the coins and paying extra transaction fees.

You clearly don't need to get the best out of bitcoin. If you don't care about its best properties which I enumerate for you below:

• Decentralization
• Censorship resistance
• Pseudonimity
• Open Source
• Permissionless
• Transaction Immutability
• Consensus rather than command and control

well, bitcoin is not for you. Have an eToro account and make your fake trading for profit over there.

So I guess dex are solution right?

You can put your coins on the wallets where it can be connected to an exchanges.  This is what they call as non custodial exchanges where the coins stays on your wallet till you connect it to an exchanges, mostly dex of swapping platform.  I don't know if you still consider it an excuse.

The only that will stop you here is if you are slow enough to see the market trend, you sell ahead if you know the market trend will change very soon and while there is still enough supply and demand.

Its nothing else then exucuse to steal.
If they steal 100$ ok but If the money i will lose is bigger then world is small the money goes in some one Pocket money just dont disapeare.
Money goes in to someone pockets...... The Statement: your funds are Exchanger funds in Exchanger well its just exucuse to steal.
I do belive in respect and honor eye for eye Blood for blood 

However: If they decide to pull out the heist it means they start to sell with lower price to other retail buyers If they steal from one place...

But they can also become the share holders of the wall street instutions before big heist to sell it to the instutions who will buy with any price and then they send fbi or sec to close down exchangers and claiming about some nonsense ""money lndry ""
If we are on this scenario now then we are in danger

but If they want to sell to institutions i guess they do it with maximum price not like 20k range.

I agree on the core concept. Even if the coins are entitled under your name, that does not do shit as the bitcoin protocol only recognize private keys for authorization and whatnot. I can’t stress this enough - for as long as an exchange holds your funds, it is virtually theirs so after any and every trade, just withdraw the funds and just deposit after. Paying fees are better than losing it all, right?

Im asking success receipe 😗
100000% success and csnt fail in Bitcoin.
I been doing a lot research on btc and a lot things just dont make any sense more likely its not about btc but are related to btc and crypto.

Right now i dont like that SEC approach at all.
Anyways If traders start to feel fear they might start to take out their coins of the exchangers its a beneficial for the btc price as less supply in the Exchangers but more demand.
No wonder why poloniex paying  apy to hold btc there now just to motivate traders to hold their btc there....

Ahhh oops I thought you were just talking about withdrawals nvm...

HitBTC charges 0.25% as taker's fee while 0.01 for maker as makers fee. Binance charges 0.1% as trading fee. This is how custodial exchanges operate but their withdrawal fee are constant.

Different peoples in the world have a different opinions. We use hardware wallets to secure our funds, not for trading. If you are a trader, then usually you will have to hold funds on the exchange. But still, not your key not your coin exists there. Because once you are holding funds on the exchange then you just holding an algorithm there. When you attempt to withdraw your funds then the exchanges will give payout from their hot/cold wallet. So during withdrawal, you may face any issue. But again, don't hold your fund into exchanges for a long time. I wouldn't agree with your logic unless I am a trader.

Why ask me? I don't know what you're intentions are. If you're a trader, obviously you need the funds to be on exchanges to be able to trade. On the other hand if you're more of an investor and a holder, then securing your funds using a hardware wallet is highly recommended.

@OP you're describing a system in which exchanges inflate the order books and sell coins they don't have. Your whole post looks to be in support of exchange driven inflation - which I'm also pretty sure is or should be a crime if not stated in their ToS and even if it is it'd probably lead to them being shut down.

If this was your sentiment and you don't think all orders are posted by genuine users then you've also implied you need to move your coins off an exchange yourself.


What exchanges do you know that charge a % on fees rather than a flat fee (I haven't seen this). 

You seems to be wise person so what is your advice just hodle btc in hard wallet and relax?

Id like to follow your advice I dont know what education or background but i guess you have good education on this.

Trading on custodial exchanges can be most flexible and fastest but not with the lowest fees. Custodial exchanges do charges in percentage, while noncustodial exchanges only charge mining fees. So, if you want to exchange low amount of bitcoin can lead to high mining fee on noncustodial exchanges while the fee will be low on custodial exchanges which can be 0.1% to 0.2% on custodial exchanges. But if the amount of bitcoin to exchange if high, the mining fee only will still be charged on noncustodial exchanges while custodial exchange will charge in percentage which will increase the fee and making it higher than that of noncustodial exchanges. So, it depends.

Do you not know hardware like trezor have Dex, the time of exchange can take 10 minutes but you can exchange your coins on many noncustodail wallets, and only mining fee will be charged. For holders, they can easily make use of of Dex while frequent traders can make use of custodial exchanges because of trading flexibility.

It is not new that custodial exchanges are complying to governmental policies. What you can say is that will SEC have strict regulation for cryptocurrencies? While custodial exchanges and other companies providing custodial crypto service will be the governmental targets while the custodial companies will comply.

If you do not like the statement, that means you do not know what the statement is all about. It is simple and basic that if you do not have a private key to your coin, you do not have full control over the coin because the private key is used to unlock the coin from the blockchain.

What are you trying to suggest?

I have explained how holders can make use of Dexs, while also they can make use custodial exchanges. Some exchanges have no strict regulation about kyc, if a country governmental laws about crypto regulation is getting stricter and out of hand, seeing others reputed exchanges in the country where the their laws are not strict to have increase in trading volume.

But in my opinion, that does not mean custodial exchanges can not freeze someone's account because not your key not your coin. Making use of hardware and Dexs will be my forgo. It can take 10 minutes for my trade to complete, but charging mining fee is not an issue for me, and like especially if someone's is a holder.

I've been holding in my cold wallet coins since 3000, I haven't made a profit in $ terms?


Ask the ones that had coins of exchanges from Bitcoinica and MtGox till Quadriga and Altsbit, I have a feeling they have changed their stance on this.


I'll give you the perfect way to shield yourself from volatility, perfect for you, keep your money in $.
If after months spent on this forum and hundreds of topics you're still missing key points and advantages, one thing is clear, BTC is not for you.

You do realize that buyers on exchanges are buying coins from other exchange users right? And vice versa. Not from the exchange itself. If there's not enough liquidity to meet the demand of the buyers, what will simply happen is that the price will increase as the buyers execute the orders of the higher sell offers.

Reason the people hold btc in exchangers is becouse if they want to exchange to fiat coins like usdt stable coins then its fastest and with lowest fee way.
If im holding  in the hard wallet And btc Goes Down or goes up I can not make profit...

So is this is meaning that SEC Will come after Exchangers soon?  Once the btc prices will go up becouse Exchangers will not have enough liqutity to meet the demand for all this traders who will try to cash out the profit? 

I dont like that not my keys not my btc I think its dumb statement! 
Its exucuse to scam out honest btc holders and traders this keeping me the conclusion that 2-3 Exchangers might be busted by FBI and SEC.

To take down 2-3 Exchangers its enough to take out enough liqutity of the market.
So that Exchangers have no duty to serve the liqutity demand from their traders.

I see this is Coming but before that the weatlhy investors will be know that first and will transfer their btc in hard wallets.

But then again not your keys not your btc is just that I dont have no any ways to protect myself fast enough against volatility.