Topic: Poll : do you trust an exchange to hold your bitcoins ? - page 7. (Read 9194 times)
I don't trust them but I'm doying it anyway. I usualy look for signs when something start to go wrong and until now it worked.
of course not. but that doesn't mean i don't keep coins there. i have 30% in cold storage, and the rest spread across 3 exchanges -- Stamp, BFX, BTCE. if one of them runs off with my coins, i won't be crushed. just hoping to make enough coins in profit for it to be worth it, if that ever happens. never used Gox.
What is the point of keeping your coins on an exchange?
You can easily keep your coins secure with a software wallet and/or a blockchian.info wallet. You can keep an account with an exchange without any coins. You can transfer any coins that you wish to sell on an exchange within an hour or so.
I just don't see the point
Of course I don't trust exchanges. Look at bitcoin exchanges' histories, generally. Think about Gox. I spread my coins across 5 exchanges (3 BTC/USD, 2 BTC/alt), to keep from having my trading coins in one place. I know the floor could fall out at anytime.
Mtgox problems came out around June last year when people not able to get their fiat out. It didn't suddenly just go bust.
People paying attention already use their cash to buy bitocoin to transfer out.
The current batch of exchanges have more to lose than gain from stealing.
Sure, Mt Gox problems started long before they went bust. I saw the warning signs and never sent coins there. But what you just said -- that could have applied to Mt Gox as well. I don't trust these exchanges for a second.
Of course I don't trust exchanges. Look at bitcoin exchanges' histories, generally. Think about Gox. I spread my coins across 5 exchanges (3 BTC/USD, 2 BTC/alt), to keep from having my trading coins in one place. I know the floor could fall out at anytime.
Mtgox problems came out around June last year when people not able to get their fiat out. It didn't suddenly just go bust.
People paying attention already use their cash to buy bitocoin to transfer out.
The current batch of exchanges have more to lose than gain from stealing.
Of course I don't trust exchanges. Look at bitcoin exchanges' histories, generally. Think about Gox. I spread my coins across 5 exchanges (3 BTC/USD, 2 BTC/alt), to keep from having my trading coins in one place. I know the floor could fall out at anytime.
Trust no one when it comes to $$$
not exactly true, there are some places and companies that you can trust when it comes to keeping and handling your money/BTC
of course not. but that doesn't mean i don't keep coins there. i have 30% in cold storage, and the rest spread across 3 exchanges -- Stamp, BFX, BTCE. if one of them runs off with my coins, i won't be crushed. just hoping to make enough coins in profit for it to be worth it, if that ever happens. never used Gox.
This is solid advice but after my fiasco with blockchain I don't know that I would trust any other exchange to hold my coins, as it is I can't even hold my own coins on my computer without worrying that I've downloaded malware. It's not like a click every link that says I've won a million dollars, but even that simple Google adwords thing really messed with me.
Keep a majority of mine on Coinbase and Atomic-Trade exchange. Most exchanges seem really shady.. No idea how people could actually put money in any exchange that is anonymous. That's just asking for trouble. At least with the previous mentioned, there is some accountability.
of course not. but that doesn't mean i don't keep coins there. i have 30% in cold storage, and the rest spread across 3 exchanges -- Stamp, BFX, BTCE. if one of them runs off with my coins, i won't be crushed. just hoping to make enough coins in profit for it to be worth it, if that ever happens. never used Gox.
solid advice -- don't put all your eggs in one basket. take Gox as an example -- i don't think the "early guard" of bitcoin exchanges will all make it through the next few years. someone is bound to fall -- and it's best to position yourself wisely.
of course not. but that doesn't mean i don't keep coins there. i have 30% in cold storage, and the rest spread across 3 exchanges -- Stamp, BFX, BTCE. if one of them runs off with my coins, i won't be crushed. just hoping to make enough coins in profit for it to be worth it, if that ever happens. never used Gox.
Never
Came ever so close to being wiped out by the mtgox fiasco
Once bitten twice shy
Came ever so close to being wiped out by the mtgox fiasco
Once bitten twice shy
No No NO 
Short answer is no.
They might be honest but government can still confiscate their bank account and seize the bitcoin.
They might be honest but government can still confiscate their bank account and seize the bitcoin.
I trust Coinbase and Bistamp to deliver my coins, but I would never hold them there. I move them to cold storage as soon as I have the ability.
i trust and feel safe with my BTC at BTC-e
I trust BitStamp and coinbase. There are a lot of venture capitals who went there.
Even if others have trusted a lot of money with them does not mean that you should as well.
Unless you plan on trading on bitstamp then you should not hold your money there.
There is no real reason to keep your money at coinbase.
I trust BitStamp and coinbase. There are a lot of venture capitals who went there.
I don't trust them but I have no choice.
We all know Bitcoin is made so that you can be your own bank, and if handled properly, it's the only way for your money to be really secure.
Nevertheless, I'm sure many of us still have a significant amount of bitcoins on an exchange, for various reasons (because we trade a lot, or because we trust an exchange more than a paper wallet).
Please answer this quick poll : https://fr.surveymonkey.com/s/PPX6WK5
I will update this post to show you the poll results.
(Edit : you can also see the results of the poll right after you answer it. I added Coinbase in the list.)
Nevertheless, I'm sure many of us still have a significant amount of bitcoins on an exchange, for various reasons (because we trade a lot, or because we trust an exchange more than a paper wallet).
Please answer this quick poll : https://fr.surveymonkey.com/s/PPX6WK5
I will update this post to show you the poll results.
(Edit : you can also see the results of the poll right after you answer it. I added Coinbase in the list.)
well, there's no reason to trust an exchange more than a paper wallet. i do trade a majority of my coins on a regular basis. but i don't trust any of the exchanges. i trade on BTCE, Bitfinex, and Stamp, spreading out my funds for the inevitable collapse of another exchange.... just hoping to increase my $ and BTC enough that i'm still a good margin ahead when it happens.
This strategy can still be dangerous as you are vulnerable to hackers.
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