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Topic: Poll : do you trust an exchange to hold your bitcoins ? - page 8. (Read 9194 times)

sr. member
Activity: 252
Merit: 250
For me, I don't.

You can trust one with few money, but who knows how his eye will charge his brain when he see a lot of money.
hero member
Activity: 658
Merit: 500
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.)

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.
legendary
Activity: 3038
Merit: 1032
RIP Mommy
Survey doesn't have an option for 0%, which is equivalent to answering "NO" to this topic title.
sr. member
Activity: 266
Merit: 250
I dont find a reason (except from some withdrawal fee they apply) to keep coins in there.
I need some in there for day trading but what I do not trade I prefer to get it out of there.
So I have to say that I don't trust them a lot.

This is the reason why people hold coins in an exchange in the first place, trading.

Traders wish to be able to use all of their "capital" for use in trading.
sr. member
Activity: 351
Merit: 250
I dont find a reason (except from some withdrawal fee they apply) to keep coins in there.
I need some in there for day trading but what I do not trade I prefer to get it out of there.
So I have to say that I don't trust them a lot.
vip
Activity: 1316
Merit: 1043
👻
Definitely no!
full member
Activity: 140
Merit: 110
bitcoinnaire
without taking the survey i'm going to just say no. no. no.

because of the whole google adwords blockchain thing I had several btc stolen from me, from now on i am keeping an offline wallet and making sure that it never happens again, since blockchain and google refuse to both do anything about it. i'd prefer to be able to see my wallet, sitting right in front of me than not knowing, and forgetting passwords, and what else.
sr. member
Activity: 266
Merit: 250


lol

The above picture sums it up perfectly.

Bitcoin is designed to be decentralized and having BTC on exchanges centralized coins, even if there are multiple centers (each of the exchanges)
legendary
Activity: 1596
Merit: 1000
If the exchange has a record of honest conduct.

Honest conduct does not mean everything. There are something which is out of their control, such as security issues, insider theft, hack attacking.
hero member
Activity: 764
Merit: 500
I'm a cynic, I'm a quaint
I do not trust any exchange. I will use them, but get my money / bitcoin out asap.
sr. member
Activity: 462
Merit: 250
Absolutely not, have been stung several times by online exchanges, most notably by MtGox
full member
Activity: 224
Merit: 100
THE GAME OF CHANCE. CHANGED.
I only send bitcoin to an exchange when I want to sell them, and will keep fiat there until I buy the coins back. I do not trust any exchange, not only because they might become insolvent any minute, but they might also force me into verification before I can withdraw anything.
me too. Even the exchange is big and stable, I still do not trust them. Do you guys still remember Mtgox why to file for bankruptcy? Hacker can steal all the BTC in the wallet of the exchange once they found the security issue and donot care how large the exchange is.

Mtgox went down largely due to incompetency and insider theft.

How many people actually believe the theft happen more than 1 year and no one discover it?
legendary
Activity: 1316
Merit: 1004
I only send bitcoin to an exchange when I want to sell them, and will keep fiat there until I buy the coins back. I do not trust any exchange, not only because they might become insolvent any minute, but they might also force me into verification before I can withdraw anything.
me too. Even the exchange is big and stable, I still do not trust them. Do you guys still remember Mtgox why to file for bankruptcy? Hacker can steal all the BTC in the wallet of the exchange once they found the security issue and donot care how large the exchange is.
legendary
Activity: 966
Merit: 1000
Not ALL bitcoins for sure i keep max of 0.5 coins on exchanges.
full member
Activity: 185
Merit: 100
If the exchange has a record of honest conduct.
sr. member
Activity: 462
Merit: 250
Dont put bitcoins in exchange, or if you want to, keep small amounts below 5 btc and keep monitoring the exchange very often, almost always there are signs before the shutdowns of the exchanges
hero member
Activity: 644
Merit: 500
No. I have held Bitcoins in a exchange, but normally, the amount isn't over .2BTC.  And if I hold it, it's either for a few days or a day. I don't do it because exchanges control the accounts, and your Bitcoins. Some exchanges can also glitch, like the negative balance at Cryptsy. And a example of them controlling your funds is when Vircurex froze all user's Bitcoin, Litecoin, and Feathercoin balances.
hero member
Activity: 658
Merit: 500
I only send bitcoin to an exchange when I want to sell them, and will keep fiat there until I buy the coins back. I do not trust any exchange, not only because they might become insolvent any minute, but they might also force me into verification before I can withdraw anything.
newbie
Activity: 28
Merit: 0
maybe no . but for reason manual maybe yes
sr. member
Activity: 353
Merit: 250
BITCOIN
Trust no one when it comes to $$$
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