Exchanges

The volume of crypto exchanges going bust or requiring emergency measures must surely dent confidence in block chain currency alternatives.


I do wonder if Bitcoin will ever get back to its highs of 2021.

It's mostly a combination of wishful thinking, scamming and ignorance. The only way to come out safely is to treat it as a gamble, don't bet what you can't afford to lose, and hope for the best.

This is a really interesting area with a lot to talk about. I agree it is very high risk, but my fundamental belief is that there are enough people that distrust their governments and financial institutions to such a degree that the main projects are still worth buying in to. It's the same reason I stack precious metals, the only main differences, in my mind, are tangibility and 5,000 years of history, but the rational is the same. While not positive at face value (there's a pun here for sure!), I feel it's a highly pragmatic domain to get involved in. To this end, I see those 2021 highs as reachable again. But know really knows? But in terms of exchanges specifically, this is why I go for cold storage only. No hot wallets in this household.

I think that CBDC's which will be installed this year in the western countries to help save the sheeples from the cowboy regulation crypto area, where fraud, theft, scamming takes place like it does in the fiat world every day ie the sheeples being scammed and robbed by the elites and we don't even notice eh! Will hurt bitcoin dreadfully.

Once installed after 2 or 3 years cash will be banned. And then GCHQ and the NSA will see every transaction we do. If we are bad boys we will be de-platformed from the banks and other computer digital areas.

The BTX 11 billion theft, like Madoff, will get the blame. Probably a CIA/ FBI set up with the 30 year old boy that's gone back to his Mummy and Daddies house to be looked after.

And I don't believe in conspiracy theories.

FREE ASSANGE, that's what I say. To HELL with all of our systems Ponzi Schemes.

I’m investing in chickens, potatoes and I’ve ordered a cow. You can’t eat binary code or silver.

ArcaneCollector wrote:I’m investing in chickens, potatoes and I’ve ordered a cow. You can’t eat binary code or silver.

I was going to make a joke, but then realised it was not appropriate..

Off to the naughty corner for me

Admin wrote:

ArcaneCollector wrote:I’m investing in chickens, potatoes and I’ve ordered a cow. You can’t eat binary code or silver.

I was going to make a joke, but then realised it was not appropriate..

Off to the naughty corner for me

No such thing as an inappropriate joke in my book!

ArcaneCollector wrote:

Admin wrote:

ArcaneCollector wrote:I’m investing in chickens, potatoes and I’ve ordered a cow. You can’t eat binary code or silver.

I was going to make a joke, but then realised it was not appropriate..

Off to the naughty corner for me

No such thing as an inappropriate joke in my book!

LOL well I would say it to my close friends but perhaps not on a forum where it could be taken out of context

@Admin when you PM @ArcaneCollector with the joke, could you copy me in?
@ArcaneCollector I can see we're going to need another naughty corner!

The Cat's Mother wrote: @Admin  when you PM  @ArcaneCollector with the joke, could you copy me in?
@ArcaneCollector I can see we're going to need another naughty corner!

I am not sending the joke, I type as I speak. So the joke might be lost amongst anyone who really does not know me, and could be thought of more as a threat than a joke. That is all I am saying. If you look at what people are stocking up on and you know me... Think for a second. Martin will get it in a second.

With that bombshell out the way....

LOL

OK enough of this dribble !
I'll give you 3 ounces of AG for the chuck arcanecollector 4 if you deliver !

I can send you some eggs over and you can hatch them yourself.

I barely walk on egg shells as it is so I really don't have the time to hatch them

SilverTrader wrote:I barely walk on egg shells as it is so I really don't have the time to hatch them

But the thought does conjure up a wonderful picture, chuck.

Are any of the big exchanges safe in 2023?
Would you use the services of Binance, Coinbase or Crypto.com?

No idea

But if you do buy Bitcoin or any crypto coin, you can always put it onto a physical wallet (essentially a secure USB drive) and remove the risk of leaving it in an exchange wallet.

It’s the Fiat on-ramp and off-ramp that’s the real issue.  As others have mentioned, only use exchanges to the extent absolutely necessary. Never leave your crypto on an exchange. Move it to a hard wallet, like Trezor, or ledger. Stick to the coins with the most liquidity. I would personally stick to Bitcoin. Keep away from staked coins. Stick to coins that use a proof of work protocol like BTC.

What happens if your trezor usb wallet gets damaged or malfunctions?
Lose everything?

No you don’t. You will still have the sequence of words that represents your private key. The words that were created when you first setup your hard wallet. You can use this words to generate your private key on a replacement hard wallet.

Of course, forgive me, it’s been a while since I researched wallets.

Don’t lose those 20 words or write them down incorrectly

No apology necessary buddy.
Lol yes. You will be in a whole heap of pain if you do….

I also suggest that you never type the words into a computer or phone. Always write them down on paper. Never take a picture of the words either.

I think i'll just stick to coinbase.