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Messages - Z-tight

Pages: 1 [2] 3 4 ... 36
16
Crypto Wallets / Re: If a cryptocurrency user forgets his password, what happens to his wallet?
« on: May 03, 2024, 10:30:08 PM »
Quote from: NikeFit_7777 on April 28, 2024, 09:18:21 PM
There is not always technical support, and it is much easier to lose access.  8)
People who use BTC need to know that they are the ones responsible for the safety of their funds and if they lose it, they have lost it for good, however losing your password does not mean you have lost your funds and you can recover your wallet with your seed phrase.

Take note that simply because an exchange can help their users recover their password does not mean it is a safe platform to store coins, not your keys, not your coins. If the exchange does not lose your money in fractional reserve 'scam', then they can be hacked or they will just confiscate your money anytime.

17
Basic Questions about Cryptos / Re: What do you do if someone trusts you and wants to Invest in you?
« on: May 03, 2024, 10:16:44 PM »
Quote from: Sevi on April 23, 2024, 06:27:34 AM
Given the fact that someone trusted me and would want to invest to me then I would definitely cater them and help them in order to make their money huge as well as teach them to grow their investment.
Have you made your own money huge or grown your own investment? It is obvious you do not understand a thing about BTC or crypto, how do you agree to store someone's coins and take up their risks for them. If someone makes such an offer to you, tell them to learn how to store their own coins and they should not buy BTC until they have learnt its basics.

18
News related to Crypto / Re: Binance founder Changpeng Zhao sentenced to four months in prison
« on: May 03, 2024, 10:09:10 PM »
Quote from: yhiaali3 on May 03, 2024, 09:57:11 PM
As you know money drives everything, even the four months that Zhao will spend in prison will most likely be comfortable as he will have all the amenities since he has enough money to live a comfortable life in prison.
Sbf is a rich man and he comes from an influential family, but he got 25 years in prison, i know we can argue he should have got more, but if it was all about money then he should have got way less too.

I know the rich and influential can influence judgements in their favor, however, the reason why cz got 'only' four months has been stated in this topic already.

19
News related to Crypto / Re: Binance founder Changpeng Zhao sentenced to four months in prison
« on: May 03, 2024, 05:13:21 PM »
Quote from: yhiaali3 on May 03, 2024, 06:08:25 AM
I wonder if Zhao had been a poor man who had no money, would the judges have sympathized with him? :'(
That is not the case here, a 'poor man' would not own a cryptocurrency exchange that will give him the opportunity to commit the financial crimes that CZ and Binance committed. CZ pleaded guilty, paid billions of $, cooperated with authorities and gave them all the info and data they need, and that is why the sentence was light, it has nothing to do with sympathy from the judges.

20
Crypto Wallets / Re: Wasabi wallet shutting down Coinjoin
« on: May 03, 2024, 05:07:46 PM »
Quote from: Aanuoluwatofunmi on May 03, 2024, 04:14:45 PM
Their privacy already has been questioned by the community since they started the partnership with the blockchain community,
Whose privacy? Are you talking about Wasabi partnering with a blockchain analysis company? If that is what you are saying, it no longer matters at this point, they have shut down their CoinJoin service, the government have taken down Samouria, and the bigger picture is two privacy solutions down and many more to go in the weeks and months ahead.

21
Crypto Wallets / Re: Wasabi wallet shutting down Coinjoin
« on: May 02, 2024, 11:59:31 PM »
Wow, just right after Samouria was seized by the U.S and their founders arrested and charged for conspiracy to commit money landering, Wasabi are taking the 'careful' step and backing out from enhancing privacy for bitcoiners.

I know Wasabi f'd up when they started blacklisting certain utxo's from their CoinJoin, but it remains one of the service people use to stay anonymous and it is kind of sad that it is going down as well. The government is definitely going to win this 'fight', and there could be nothing left of privacy in a few years from now.

22
News related to Crypto / Re: Binance founder Changpeng Zhao sentenced to four months in prison
« on: May 02, 2024, 11:42:11 PM »
4 months because he cooperated fully with the authorities and paid billions in settlement, i don't think anyone who was interested and followed this case closely would be surprised by the sentencing, maybe he could have got a few months in addition, but that is that.

Who could be next in the list of crypto service owners to be arrested and prosecuted?

23
Cryptocurrency discussions / Re: Again, Don't Ignore Security
« on: May 02, 2024, 10:58:46 PM »
Quote from: hugeblack on May 01, 2024, 09:30:14 PM
In the past, we used to hear about a hacking event every few months, but in recent years its frequency has increased rapidly.
These centralized exchanges store a lot of money in online wallets, and like you know, anything online is prone to attack and hacks. There are also rumors that some of the attacks could be inside jobs, i don't know how true that can be, but that can also be the reason why they get hacked frequently.

Crazy thing is if they don't get hacked, then they lose the money in fractional reserve 'scam' or just obvious misappropriation of funds, i.e. sbf and ftx.

24
Bitcoin Forum / Re: ordinals and inscriptions
« on: May 02, 2024, 10:32:08 PM »
Quote from: ABCbits on May 02, 2024, 01:09:16 PM
We'll continue to see people using Bitcoin for reason other than financial transaction, although we also can hope it won't gain much popularity/usage.
I know that with the spammers it would be very difficult for the fee rate to fall as low as 1 sat/vbyte, and stopping them would mean censorship in a censorship resistant network. However, just as you said, i believe people will start losing interest in things like these in the long run, and the hype will be lost, they cannot possibly keep this hype for a long time.

25
Bitcoin Forum / Re: Bitcoin halving is beginning, not the end of a big bull run. Hold your bitcoins!
« on: May 02, 2024, 01:08:10 AM »
Quote from: Jamal Aezaz on May 01, 2024, 08:32:37 PM
You will be familiar that two days ago prices went down from 57k$ but now it is again 60k$ so why doesn't someone buy it at 57k$ instead of selling it due to fear.
Weak hands do not buy BTC during a dip or when the price drops low. They did no research, so they do not even believe in the network to begin with. Weak hands are just there for profit alone, that is why they try to time the market by buying when the price starts to rise, what we call buying out of fomo.

26
Bitcoin Forum / Re: ordinals and inscriptions
« on: May 02, 2024, 01:02:45 AM »
Quote from: babo on April 30, 2024, 12:26:48 PM
we will definitely never see 1 sat per vbyte again in my opinion
No, not never. I believe we would see 1 sat/vByte again, but it is going to take sometime to happen. If all the spammers causing this congestion go away and there are no new ones, then fees can fall as low as that again.
Quote from: Captain Corporate on May 02, 2024, 12:02:43 AM
I think this is quite obvious that these type of "extra" stuff on bitcoin doesn't really help anyone at all.
It doesn't help us (people) who want to make p2p tx's. However try telling this to the spammers.

27
Bitcoin Forum / Re: The 134th reason why you should not use Wasabi Wallet.
« on: May 01, 2024, 11:03:51 PM »
Quote from: JISAN on May 01, 2024, 10:36:38 PM
How Trust wallet can sell your information? where they provide security phrase as your wallet security key.
The problem with trust wallet isn't that they can sell user's data, it is not a custodial service so that is not the risk in using the wallet. Trust wallet is a self custodial wallet, however it is closed source and you cannot verify how the keys were generated, but you simply have to believe what the developers tell you about it.

28
Basic Questions about Cryptos / Re: What is Bitcoin?
« on: May 01, 2024, 10:57:22 PM »
Quote from: Aanuoluwatofunmi on February 14, 2024, 04:13:57 PM
if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
Yeah, BTC is censorship resistant and there is no central authority in control, BTC users can also achieve a good level of privacy when they use BTC and they can even achieve anonymity if they use BTC privacy solutions. This is why the government continues its attack on services that enhance privacy for BTC users and they are also on the attack against BTC fungibility, but the network is still what it is.

29
Bitcoin Forum / Re: The 134th reason why you should not use Wasabi Wallet.
« on: May 01, 2024, 09:38:45 PM »
Quote from: SamReomo on April 30, 2024, 09:50:54 PM
Yes, that's very true but they are leaving the US market when they saw Samourai wallet got seized by the SEC. That simply shows that they fear that in future they might also get seized if they continue their services in the US.
That in itself is not a bad thing. There is nothing wrong if they try to protect their service from being taken down, and if they are doing so because they saw what happened to similar services, then that is being proactive and avoiding the same situation from happening to them.
Quote from: SamReomo on April 30, 2024, 09:50:54 PM
I know some people say that US is going to shutdown each privacy providing service, but if the privacy providing service hasn't done something wrong then why they even have to fear a government?
Because the government is trying to shut down every privacy solution, accusing them of money laundering, even without proof most times. The government does not want people to use BTC without traces, because they want to be able to monitor you and i.

30
Cryptocurrency discussions / Re: Again, Don't Ignore Security
« on: May 01, 2024, 09:23:43 PM »
Quote from: dkbit98 on May 01, 2024, 05:29:05 PM
I just saw one of the campaign managers getting scammed in telegram, so it's better to be suspicious to all received messages, and limit the use of Telegram and similar messangers.
100% agree, the number of scammers in Telegram is simply unbelievable, i used to think that only newbies are vulnerable to scam attempts on that platform, but every now and then we see 'older' members also falling victim to scammers there.

For people who use Telegram, once you get an unsolicited message, treat it immediately as a scam until you prove it isn't. Bitcoiners have to do better to protect their coins from scammers.

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