Welcome to [/NiobiumBomesp](https://reddit.com/NiobiumBomesp). This subreddit is open to discussion about the Ethereum based cryptocurrency Niobium Coin and Bomesp, a Virtual Business Currencies Exchange.
Payfair.io: Decentralized Escrow and P2P Crypto-exchange
PayFair is a person-to-person cryptocurrency trading platform. We bring people from different countries together to exchange their local currency to a cryptocurrency of their choosing. The decentralized escrow service is enabled by the PAYFAIR token (PFR), which is an ERC-20 token based on the Ethereum blockchain. We provide extremely low fees for all transactions in a safe, private and decentralized environment.
You probably think that storing your Bitcoin on an exchange is safe because exchanges have insurance - they have not! They only have insurance for about 1-2% of their funds. -> In case of a "hack", you will lose ALL of your coins.
Safe to leave my bitcoin (and other coins) on exchange?
I know I can’t be certain that my money is safe on the big name exchanges but should I be worried ? Like if I plan to hold long term..... I feel even more scared to hold it in a physical ledger in case I lose the physical hardware. Not sure what to do. Appreciate advice!
You probably think that storing your Bitcoin on an exchange is safe because exchanges have insurance - they have not! They only have insurance for about 1-2% of their funds. -> In case of a "hack", you will lose ALL of your coins. /r/Bitcoin
[IMPORTANT] We need a complete *detailed technical* guide for splitting coins after the fork + an utility to do so to remove uncertainty and allow exchanges to list the >1MB Bitcoin safely.
It makes total economic sense for an exchange to list both sides of a fork which is also advantageous to >1MB Bitcoin. However they absolutely need a technical guidance to do this as demonstrated by a good faith inquiry about this by Brain Armstrong. Exchanges (at least not all of them) can not be expected to implement coin splitting by themselves without guidance - they can not be expected to have such high level of expertise to do it confidently right and safely. It needs to be relatively simple so any exchange wishing to do so can split coins easily and without any significant risk. There is just an high-level overview of suggested approaches tweeted by Jihan. Not having such a technical guide and a reference utility opens the door for going "the easy way" and simply ignore >1MB Bitcoin and demand "replay-protection" from the majority hashrate (which is absurd) as also demonstrated by the ill-conceived "joint exchanges letter". It also serves some exchanges as an excuse to demand the above as well as not listing >1MB Bitcoin. As an individual, I also want to have an option for easily splitting my coins without transferring them to an external service, which can be highly risky during a fork event. I imagine a lot of people would want this option so they can move their coins separately on the respective chains (allowing to sell only 1MB coins or >1MB coins whichever one prefers and keep the rest in local wallet). I do not want to be forced to transfer both and rely on an exchange/external service to split them for me. The thread where Brian asks for suggestions for splitting coins was a chaotic soup of different approaches which clearly demonstrated that there is confusion here even among BU/Classic devs as multiple approaches were suggested without any one being the universally recommended. This clearly demonstrated that work is needed in this area. So this is a plea for >1MB Bitcoin proponents (BU, Classic devs etc.) to write up a highly detailed and technical guide for a recommended and as reliable as possible way to split coins for exchanges as well as individuals with a reference implementation demonstrating the approach (and serving as a splitting utility for individuals).
[uncensored-r/Bitcoin] Reminder: Your coins are vulnerable on exchanges. Keep them in a wallet you own to be safe.
The following post by PhyllisWheatenhousen is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7la9bn The original post's content was as follows:
No, gemini is not a wallet. No, coinbase is not a wallet. No, bitfinex is not a wallet. I've been in crypto for years. I've seen many people lose their entire savings from an exchange scam or hacking. IF YOU DON'T CONTROL YOUR PRIVATE KEYS, YOU DON'T CONTROL YOUR BITCOIN.Don't risk losing your money. Get a wallet from here, and transfer your coins to it. Only use exchanges for as long as you need them and take your coins off when you're done. Many of you are new to bitcoin and are only here for the short term investment. You'll sell as soon as the price gets high enough. Don't risk keeping your coins on an exchange in the mean time. With the high price, the incentive to hack an exchange is higher than ever. Transfer to a wallet you control then back to an exchange when your ready to sell. Happy bitcoining!
Get a FREE Omnilayer Wallet Worth $250 when You Buy my Last 100 Omnilayer coin, 20% OFF Official market Value: Cash Exchange in a Safe Public Place, secured verifed Paypal, Secured bitcoin payment gate Welcomed. Home Contact Email: [email protected] /r/bitcoin_uncensored
Okay guys I need a little advice. I want to store my bitcoin, crypto, and other alt. In a secure place outside of a exchange platform. What would be a safe place to keep them and also a place where I can have multiple wallets for the my different coins.
Okay guys I need a little advice. I want to store my bitcoin, crypto, and other alt. In a secure place outside of a exchange platform. What would be a safe place to keep them and also a place where I can have multiple wallets for the my different coins. /r/Bitcoin
Wishing to trade items in my inventory - https://steamcommunity.com/id/ifyourereadingthisspreadlove/inventory/ I'm willing to sell anything and everything. Things are missing from my inventory and are on exchanged across the web already which I can withdraw and they list: Golden Silent Wake Genuine Ripper's Reel of the Crimson Witness Genuine Golden Latticean Shards To make your time easier you can use this website to list my items by price. Please any and all offers are welcome. I'm willing to cut marketplace value by 10% negotiable, 20% bulk. If you're holding other cryptos I haven't listed i'm willing to research and take into consideration of the coin. DISCLAIMER: Our business will consist of a trust trade ~ You will receive items after the coins are in my wallet and have passed the confirmation/pending stage. Cheers.
12-21 18:57 - 'Don't forget the counterparty risk! Don't keep your coins in exchanges and e-wallets! Store your bitcoins somewhere safe!!!' (self.Bitcoin) by /u/shadowboyah removed from /r/Bitcoin within 0-5min
''' Now that the price is going to the moon, I'd like to bring back the topic of counterparty risk. Because I see new people coming in, I'd like to inform them that leaving your money to someone else, be it a bank, an exchange, a darknet market, a borrower etc etc, you face the risk of never getting your money back! In Bitcoin there have been many hacks, ponzis, scams which have affected it price very negatively. Some of the most famous ones where : Bitcoinica, Mt. Gox, BTCe, Poloniex, BitStamp, Cryptsy, Shapeshift, Gatecoin, Bitfinex, BTER, Vircurex, Mintpal, Bitpay, Cavirtex, Bitquick, the DAO, Bittrex, cloud mining scams, p2p lending, Darknet markets exit scamming/getting bust etc. The way they were hacked varied, some didn't lose customer funds, others refunded them, others lost altcoins etc, but the danger of losing everything is still there. Coinbase has had problems with the IRS demanding customer info, Cryptsy lawsuit because they helped Cryptsy's CEO steal and cash out customer funds, freezing accounts for gambling etc, not giving customer's Ethereum Classic after the Fork and so on. Some of the 'old guys' know about all that and prefer to stay safe. Others keep risking it. Just be the smart guy! Very few people profit from trading or arbitrage! Do you think you are in the 10-20% of people that constantly make money trading? Chances are you aren't... In a year you could have made more than 2-3x just by holding your coins in a private wallet! Some people were lending money at Bitfinex to earn interest (more than 10% per year). Guess what happened to them... They initially lost 36% and then it went down to 18% due to BFX's clever trick. And some people just kept USD in that exchange thinking nobody could take it from them. Don't get distracted by high yields by any altcoin like Dash, Nubits, Lending Club or Cloud mining scheme. 90-100% of all those are scams or just unable to keep their promises. Some people might have profited, but on the expense of others, and in total, more people lost than gained. And you are going to ask me: What if I want to sell or buy some coins? How do I do it? Well, nowadays there are many ways where you can do that safely. Might not very cheap, but these are probably some of the best ways to do it: Localbitcoin, Bitcoin.de, Paxful, Wallofcoins, BitBargain, Bitsquare, Tether (Omni Dex), Mycelium local trader, Purse.io, itBit, Gemini or Glidera, are some ways where you can buy coins with very little counterparty risk and OTC. If you still insisted in trading, BTCC and Kraken are currently the best exchanges in my opinion! The best way to buy coins would be to buy them with your debit/credit card and get them sent to your private wallet instantly! Some exchanges/services that I know are Glidera, Bitstamp, Coinbase, Bitx, Coinsbank and CEX.io. There might be others, but I don't know how good they are (I never buy with credit cards btw). I mainly use Kraken. I once deposited coins and sold them on Kraken and within 1 day I had my Euros in my SEPA account. Selling coins is riskier and the only 100% safe way, is to exchange BTC with cash with someone that you trust. I used to sell coins via Localbitcoin a few years ago. I would buy from an exchange and sell it for more there. After some time, I stopped using Localbitcoins. I had a small customer base, which I trusted and they trusted me. I'd work simply with bank deposits. At some point I trusted them and they trusted me so much, that I would send them the coins even the day before they'd make the deposit. I never had a single problem. But, I had problems when I started... On my first trade someone tricked me on my first trade and I released the coins without ever getting the payment. I also had a problem when I sold coins with Paypal as he did a chargeback. I was young and naive, but luckily I didn't lose more than 200£ in total. Do some KYC to make sure they aren’t sending money from a hacked account or use services like Moneypolo, OkPay and Perfect money. These services are great for sellers, but as a buyer you might lose your money if you get hacked. Avoid services where someone can reverse a transaction like PayPal and Skrill. It isn't just about the exchanges getting hacked. What if you get hacked? Someone could easily steal all your details and even if you had 2FA on, they could steal your funds (something extremely hard to do, maybe impossible, if you had a hardware wallet. Finally, arbitrage isn't that profitable. The probability of one exchange getting hacked is lower than the probability of one out of five exchange being hacked. So you have to expect losses from at least one exchange... Bitstamp, BTCe and Poloniex made their customers whole again and that's very honorable, but how many more blows can they take? What if they lose altcoins and they take the route of socialised losses? ''' Don't forget the counterparty risk! Don't keep your coins in exchanges and e-wallets! Store your bitcoins somewhere safe!!! Go1dfish undelete link unreddit undelete link Author: shadowboyah
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