/biz/ - Business & Finance

Its the high traffic ..

anyway i have no stakes there :)

>>5919687

do you all keep your cryptos on coinbase or do you send them to your own wallet ?

>>5920035
>not forwarding them to exchanges
Your money should be making you more money anon. You don't just HODL BTC like someone's grandparent.

>>5920081
yes but you can also lose money and i don't want to risk that i'm already really liking my gains so far

>>5920035
Any amount you would cry over goes to offline wallet. I got mt.goxed, never again. My shit is on a usb in my fireproof gun safe.

>>5920188
(Assuming youre hodling. If you trade regularly, still keep SOME in an offline wallet in case, but you're probably fine on exchange as ling as you move your shit at the very first sign of trouble. I'm jumpy after gox, i moved some coins offsite while binance was upgrading the other night)

Coinbase is insured, provided they’ve been paying their insurance policy. So if your shit disappears, the insurance policy will have to pay out to make their customers whole.

>>5920188
Isn't it just more safe to keep it on Coinbase? Something could always happen to your USB. Coinbase is insured, right?

>>5920703
>>5920977
Only the USD Wallet on Coinbase is FDIC Insured, like how banks Insure your bank accounts. Your Cryptocurrency Wallets are NOT insured, so if anything happens to your cryptocurrencies, you won't see them ever again. But if your USD wallet gets fucked you'll get most if not all of your money back. I just learned though that they only keep 2% of users funds online and the rest offline which is interesting

https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

https://www.coinbase.com/security

>>5919382
I gave up on cuck base a long time ago.
absolute shit company

>>5919382
No the shitchains are all clogged up with pajeets, chinks, and Stacies buying $50worth of TRON and thinking they are the wolf of wall street

>>5921142
Thank you anon

Because of their insurance they only have 2% of all funds in active wallets and the rest in cold storage. See link above.

>>5919382
>Is coinbase insolvent? Certainly explains the delays.
I was thinking the exact same thing actually

>>5921233
>>5919687
>Trying to blame the blockchain
Shapeshifted some coin from eth in a matter of minutes
Try again shlomo

>>5921233
This maybe makes sense for ETH but LTC is affected as well. It's not an ERC20 coin. Totally different chain. This should all but confirm a problem.

>>5920977
So here's what happened when gox collapsed from being insolvent.

First all withdraws were frozen. People warned, but few listened because they were the biggest. They were coinbase big and back when there was almost no competition.

Then the site closed down and declared bankruptsy. But we'll still get our money, right? Just wait...

So into the class action we went. Me and everyone else went through the motions of providing our gox balances, needing to pay attention and opting into next phases of the suit, etc.

In the end, they engineered it in a way that the lawyers sucked up every remaining asset, nobody got a payout, and nobody went to jail.

So no, your money is not safe in the biggest exchange. The USD wallet might be but none of your coins. You will get blacked

Where the fuck is the free market. We should have 20 CB's to buy from.

>>5922399
There's kraken but their site is down every 10 minutes and thats even more sketchy.

Local bitcoins is probably best option

>>5922236

https://www.reddit.com/r/mtgoxinsolvency/

>>5922542
Huh, didnt know it was still going.
My claim was denied in the day.

>>5919382
>Is coinbase insolvent? Certainly explains the delays.
No idiot. It isn't insolvent and it doesn't explain the delays.

>>5920003
Fucking kek

>>5919382
>Is coinbase insolvent
Yes
t.employee

>>5922927
Explain your reasoning, or shill

Keep in mind coinbase is a US based company and mtgox was not (Japan).

Considering how big coinbase is, I have the feeling they would not be able to get away with stealing money and running away, especially considering they seem to work closely with the IRS and possibly other govt entities. I trust them enough to keep my investments there

That being said, it's not outside the realm of possibility. Bernie Madoff got away with stealing billions from Americans, and an incompetent/corrupt SEC helped him get away with it. Always be cautious with your money

>>5923031
I wouldn't trust the US companies anymore than Japan. It would need to be based out of a smaller country like Switzerland or Hong Kong that ARE FITTE FORCED to protect investors because that's what keeps their economies so comfy.

>>5923031
He didn't exactly get away with it. He's serving a life sentence.

>>5923247
Got away in the sense that most of Madoff's victims never got reimbursed. Hell, even the lawyer who managed the assets in that case got something like a billion dollars (yes, that much) for that work.

My point is that any of us could be screwed when we least expect it, and lose it all. If someone is really concerned about security they should just buy bonds or something.

>>5922998
>Explain your reasoning, or shill
How about this 2016 video?
https://www.youtube.com/watch?v=2mJ0sYCBmxw