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/biz/ - Business & Finance

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49955617 No.49955617 [Reply] [Original]

It's sitting on an exchange.
It's sitting on Celsius, Voyager, Blockchain, Paypal, etc
It's "wrapped Bitcoin"(wBTC) on some other blockchain like Ethereum or Solana.

Not your keys, not your Bitcoin.

>> No.49955650

>>49955617
At this moment the commie realizes it fucked up

>> No.49955721

>>49955617
Has anyone discovered Paypal's wallets yet? I'd be interested to see how many people bought "crypto" from them

>> No.49955736

>>49955721
do they even have wallets ?

>> No.49955819

>>49955736
They gotta have a wallet, imagine if they did not? That would be a scam...

>> No.49955869
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49955869

>>49955617
Bumping for truth.

I don't understand how people will happily take an "IOU" from some overseas company with a flashy website, and think "I'm making money!"
No, dummy, THEY'RE making money. Unless you have the money (tokens/coins) in your own posession, you're operating at a loss.

>> No.49955894

>>49955617
Correct, but it's best to just let them get rugged. They won't believe you until a crisis happens and people learn what tail risks exist in crypto.
Imagine the smell if bitgo fucked up their custody for wbtc.

>> No.49955986

>>49955617
B-b-b-b-but if I waste a lot of time in courts and have private secret meetings where people people swear they trust me, then surely keys don't matter...!? Surely that's what crypto is all about right, trust and endless legal battles, not keys and coins, right?

>> No.49956190

>>49955721
Has anyone even discovered PayPal's fiat funds? The plain (yet strangely largely unknown) truth about PayPal is that the numbers seen in PayPal account balances do not actually reflect actual money in PayPal's banks. They can issue "PayPal credits" to PayPal account balances as they desire. If you work for PayPal you can just create an account and give that account "$9999" and make it fully verified status etc, then buy stuff with those numbers. When you top up a PayPal account with money from your bank with lets say 200 USD, you're in effect buying 200 PayPal credits from them. You get the number "200" in your PayPal account balance. That's just 200 with a dollar sign, it's not actual USD. When you spend those "200" on something, PayPal still has the 200 USD you sent them earlier, that's not sent anywhere. The store you bought from just received the imaginary 200 PayPal credits, which they then can convert to real USD -- only then does 200 USD disappear from PayPal's banks; when they transfer 200 USD to the PayPal account owners bank.

>> No.49956202

>>49955617


I made like $1000 in promotional bonuses in celsius then withdrew, it would have been so easy to keep the crypto in there.

I'm so blessed to have withdrawn after the promos ended

>> No.49956383

>>49956190
Damn that's actually pretty sad that these companies entities can simply do elaborate scam like this and get away with it, that's why I'm an paypal hater and all those other bank-linked companies that try to get away with crimes like this.
Eventually that's how they fucked humanity in the first place when they start trading paper to gold..

>>49956202
You got extremely lucky there, you jewed the jews....
How exactly was this bonuses promotional?