I would not use hardware devices. My phone had a bug, and all the apps got deleted, but when I reinstalled all my money was still in the app.
Baron's Crypto Trading Journal
- Thread starter Baron
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I would not use hardware devices. My phone had a bug, and all the apps got deleted, but when I reinstalled all my money was still in the app.
So your cold wallet actually worked after a bug in your phone, and you suggest he should not use a hardware device, which is a thumbdrive. What is safer to store your private keys? Coinbase, or a thumbdrive in your cold dead hands?
What is your problem?
I am sorry you are too stupid or poor to understand how a wallet on your Iphone works. I could throw the Iphone into a nuclear reactor, then buy another Iphone and ALL of my money would then be on the new Iphone.
Baron
ET Founder
Once I installed Exodus on my desktop, getting it up and running on my phone and tablet was super easy. After I downloaded the app on my mobile devices, I just used the device cameras to scan a QR code on my desktop and everything synced up within minutes.
The Trezor hardware device I plan on using as well is probably overkill but I figure it's worth experimenting with no matter what just to understand it.
The Trezor hardware device I plan on using as well is probably overkill but I figure it's worth experimenting with no matter what just to understand it.
Baron
ET Founder
As the FTX debacle captures the majority of people's attention in the crypto space, I predict that we're going to get a summary judgment from the SEC vs. Ripple case within the next month or so stating that XRP is NOT a security, and that's going to be the catalyst for the next crypto bull market wave.
Are you going to add to your position?
Baron
ET Founder
Absolutely.
And imagine how epic it might be if people actually want to hold their own keys. Seeing at FTX had 80k bitcoins on their books that they didn't actually buy from the open market, the price of bitcoin was suppressed. I don't know how exchanges work and how they can guarantee you a price for a bitcoin purchase. But if they first sell you bitcoin they don't have, and then have to source it because you want to withdraw it, in a fast moving rally, it could get very expensive for them.
Perhaps when you're dealing with the "real" bitcoin vs. paper bitcoins that are floating around bitcoin exchanges, the "real" bitcoin price will quickly be much higher.
FTX stole the bitcoins and other crypto assets from the customers who deposited them. Transferred them to Alameda who acted as MM who sold them to the FTX customers, but everything was fake
Customers buy bitcoins and other crypto assets, then if they don't withdraw in time, they are transferred to Alameda who acted as MM to sell them to the FTX customers
When the balance sheet was leaked to Coindesk, that's when everyone tried to withdraw all their cryptos and FTX quickly ran out
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When FTX customers wired fiat, the funds went straight to Alameda account. I have a separate thread that Silvergate bank may be in a lot of trouble as they were in the middle of that mess. Same FTX MO, customer deposits of fiat were stolen immediately after deposits and transferred straight to Alameda account
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When FTX raised funds through venture rounds, the money was borrowed by Sam in the billions. Check the bankruptcy papers
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So to summary, FTX stole customer deposits of crypto assets and FTX stole customer deposits of fiat, and then FTX stole the funds they received from their private investors by loaning to their top management
FTX and Alameda and SBF stole $10-50 Billions worth of stuff, by some estimates
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But it's all the fault of cryptos. The regulators will come down hard on cryptos
Well, FTX sure ain't the first nor will they be the last. And yet there is no shortage of gullible tards who can't get over all-things crypto. Just what more do you need in order to see that the entire crypto space is run by friggin' thieves?