just leave it on Coinbase

[Anonymous No.57933344]

The absolute state or "crypto investors" on plebbit. Wasn't crypto supposed to be for based tech anarchists, how did everything go so wrong?

[Anonymous No.57933355]

>>57933344

[Anonymous No.57933356]

>>57933344
These retards dont know how big Mt Gox was

[Anonymous No.57933374]

>>57933355
>bro it'll lose value anyway so just leave it there

[Anonymous No.57933404]

>>57933356
Not comparable to Coinbase in any way, shape, or form

[Anonymous No.57933461]

>>57933344
>using paypal as an example of a safe way to hold your money

Redditors are surreal

[Anonymous No.57933492]

>>57933404
It absolutely is

[Anonymous No.57933500]

>>57933344
people need to be honest with themselves and do a risk analyses on holding your own corns or leaving them on coinbase
simple fact is for most of them yes holding on coinbase is probably the better option
at this point one can be quite sure that coinbase isnt gonna do a mtgox so the only worry is .gov intervention in the form of capital controls
so keep your clean btc/eth on there and have a completely separate wallet for your shitcoin needs

now tell me this isnt the best options for the majority of people involved

[Anonymous No.57933511]

>>57933344
Nice full house.

Here's why this is a bad idea:
https://www.ar15.com/forums/General/I-just-lost-40-000-of-Bitcoin-on-Coinbase-/5-2703114/

tl;dr: malware on computer and/or SIM-swapping attack, suddenly a l33t haxx0r (or just some random pajeet scumbag) stole everything out of his Coinbase account, and because the attack came from outside Coinbase and wasn't an inside hack of Coinbase's own system, Coinbase says they're not liable.

[Anonymous No.57933524]

>>57933344
>just leave it on Coinbase

[Anonymous No.57933638]

I actually believe this is an inevitable result of AGI and quantum computing.
Within a decade everyone's digitally stored wealth - bank accounts, crypto exchanges, brokerages, 401ks - will get wiped out.
Put this is your schitzo screencap folder to laugh now and cry later.

[Anonymous No.57933673]

>>57933344
At this point holding coins at Coinbase is safer than a hardware wallet

[Anonymous No.57933686]

>>57933673
>unauditable proprietary software
>unauditable proprietary hardware
Both are two sides of the same coin.

[Anonymous No.57933727]

>>57933673
I generally agree, my endstage next year is to hold on cb and kraken, not in a browser extension.

[Anonymous No.57933781]

>>57933727
Based. I hold on 4chan, just send my private key to some obscure thread where people don't know about crypto and retrieve it later from the archives.

[Anonymous No.57933788]

>>57933344
>transfer out
>coinbase reports
>irs enters the chat
>>you've been audited

REEEEEEEEEEEE!!!!

[Anonymous No.57933817]

>>57933344
If I had 6-7 figures worth of crypto I'd absolutely move it into a hardware wallet, but I'm a poor bitch so if I lose what I've got it'd be worthless anyways from the brutal crash that would follow a major exchange shitting the bed.

[Anonymous No.57933823]

>>57933638
this will also usher in a mark of the beast verification system, but that's only after the ac enters the chat, and the ac enters the chat only after a ww3

[Anonymous No.57933829]

Where are you supposed to hold your coins?

[Anonymous No.57933840]

>>57933823
It's interesting how crypto will be controlled in the end times.

[Anonymous No.57933850]

I just hold my BTC in a series of magic words on a piece of paper in a locked box

[Anonymous No.57933933]

>>57933686
I accept the risks of both, and so split 50/50 (kraken. not coinbase). Same with banks and brokers. Spread things around. Eggs and baskets etc.

(Fucking Ledger. It was quite a slick device until it started spamming me with adverts for its backdoor service. And it's expensive. Like 9usd pm. Greedy little frogs)

[Anonymous No.57933978]

>>57933511
checked
here's another one
https://medium.com/coinmonks/the-most-expensive-lesson-of-my-life-details-of-sim-port-hack-35de11517124

[Anonymous No.57933986]

>>57933461
It boggles my mind that people use paypal to this day

[Anonymous No.57934064]

>>57933344
I agree with his point in the final few sentences. Hardware wallets and private keys all scare normalfag investors. Just tell them that Coinbase is safe and that Binance will keep their funds safu so they buy. Who cares if the exchange goes down and they lose everything? Not my problem.

[Anonymous No.57934149]

>>57934064
>I agree with a redditor
Couldn't be me kek

[Anonymous No.57934152]

>>57933978
ever using sms based 2FA
even in 2019 he should have known better

[Anonymous No.57934810]

This Fag didnt get absolutely wrecked by Mtgox like I did. Fuck him

[Anonymous No.57934860]

a stupid nigger and his funds are soon parted

[Anonymous No.57934884]

>>57933344
breh. if its not PoW then its not open and decentralized. Bitcoin (BTC) has been subverted with 1MB blocks so you can't use it as p2p electronic cash. it literally is digital gold. and if you wanna use it its gonna cost you a lot.

BCH is usable as p2p electronica cash but everyone thinks its a scam lmao.

[Anonymous No.57934907]

>>57934884
>BCH
Is/will be subverted. Any transparent blockchain will be.

[Anonymous No.57935609]

Self custody is a bad idea for the average person. These people can't even handle passwords, let alone seed phrases

[Anonymous No.57937066]

>>57934907
its okay. nature of decentralization means you can just move to a not subverted chain. there's also xmr, and a few other PoW coins.

[Anonymous No.57937116]

>>57937066
Yeah, the free market has given us XMR so for now the problem of digital cash is already solved and almost everything else is a cope.

[Anonymous No.57937129]

Crazily enough Reddit is right. Coinbase are the custodian for fucking Blackrock's BTC I think your rugpulls will be safe

[Anonymous No.57937262]

I can't even connect to coinbase to make a withdrawal. Is anyone here not even slightly skeptical this shit isn't all just a big scam. I had to transfer my BTC from Binance because you can't even withdraw your cash from there either.
Sorry, but if the market gets hot and they restrict the outflows of cash then you're all stuck in a pump & dump with no way out.

[Anonymous No.57937281]

reddit has better discusion than this shit hole this time around and I never thought I'd see the say. This place has been killed by chainlink and jannies, good job guys

[Anonymous No.57937297]

>>57933344
Exchange insolvency is not an obsolete phenomena. FTX just blew up like yesterday.
"Too big to fail" in crypto has to be most ironic thing I've ever witnessed
>money sent offshore etc
Except crypto transfers are one way only and can't just be yoinked back like tradfi, so when it8s gone, it's really irreversibly gone.
Custodians shitting the bed is not some rare occurrence. It happened to the point of crisis historically, that's why we now have deposit insurance. The exchange offers NONE
Do you really expect me to trust some random jackoff with the value of a house with no loss protection whatsoever?
>>57934064
Because every time this does happen it scares the fuck out of everybody.
>ah the learning curve on using a trezor is too steep, so just be way less secure and lose your life savings - better optics in the end

[Anonymous No.57937326]

>>57937129
BlackRock had 24 million invested in FTX
If you think that's going to stop this shit from rugging you are wrong. And there's still no laws related to them straight up not letting you cash out when they feel like it.

[Anonymous No.57937329]

>>57933511
>>57933978
So a hacker would need:
>email address and password
>phone number and SIM-swap
>Coinbase username and password
Is that right? Or are they able to bypass one or more of these?

[Anonymous No.57937403]

>>57937329
Just the phone number hypothetically.
>Have phone
>Call provider, this is my number
>social engineering: what's the email I have on file again?
>do SIM swap
Now controls the number
>goto email
>forgot password, reset with SMS code
Now controls the email
>goto coinbase
>user: email
>forgot password
>reset with email
Now has coinbase
Fundus are fuckedu

[Anonymous No.57937522]

>>57935609
This is right.
The actual answer for 99% of people is to use a custodian.
Saylor uses coinbase. He is way smarter than you, way more technically astute than you, has the resources to multisig in a way thay he is never at risk of key loss, and he chooses to use a custodian.

[Anonymous No.57937539]

>>57937522
>Saylor as an authority
KEK

[Anonymous No.57937568]

>>57933461
Paypal was always such shit. They would freeze your funds for no reason and loan it out at interesting for 3-6 months.

[Anonymous No.57937585]

>>57937403
>>social engineering: what's the email I have on file again?
>>do SIM swap
How do they social engineer their way around not having the PIN associated with the telecom account? Any time I've tried to fuck with my own account those phone support people won't move an inch without it.

[Anonymous No.57937595]

>>57937522
>LE FREEDOM BRO! SOVEREIGNTY!
This is so bad. It's unreal. It's like a satire of the crypto narrative.

[Anonymous No.57938925]

>>57937595
Imagine believing you are sovereign lmao

[Anonymous No.57939013]

>>57938925
>believing you are sovereign
I don't because I believe in Christ. But people like Saylor shill BTC for it supposedly being sovereign and then use custodial services.

[Anonymous No.57939052]

>>57933511
wouldn't they have been able to hack his metamask too then?

[Anonymous No.57939074]

>>57933344
not my problem

[Anonymous No.57939092]

>>57939013
>I believe in Christ
You haven't read the bible once, Cletus

[Anonymous No.57939133]

>>57933344
if you are incapable of installing a software and not losing a password then I absolutely agree, please coinbase-sama, I'm stupid

[Anonymous No.57939172]

>>57934884
you can swap it to liquid or lightning, whichever strikes your fancy for like 2%
Or if you want you can deal with your own channels

[Anonymous No.57939213]

>>57933344
normies, anon. honestly, thats sound advice for em

[Anonymous No.57939321]

>>57933344
A hardware wallet means it can be physically damaged and destroyed, a larger risk than a multibillion dollar enterprise getting hacked and dumping coins because your coins would be worthless anyway after a hack and it dumps 50% or more. Which will mean 80% by the time you get wind of it.

[Anonymous No.57939478]

>>57933344
um based

[Anonymous No.57939533]

I'd like to just say fuck coinbase for merging coinbase pro and coinbase advanced. THEY DIDN'T MERGE THE FUCKING STATEMENTS SO WHEN YOU GO TO GET YOUR TAX DOCUMENTS, WHOOPS ALL THOSE PURCHASES YOU MADE AREN'T THERE ANYMORE

YOU HAVE TO FUCK AROUND WITH A DOCUMENT GENERATOR WITH GARBAGE SETTINGS TO FIGURE IT OUT, ONE YEAR AT A TIME

It's to the point where it's so much work, it'd be faster, easier, and cheaper to file manually myself, but I have a feeling that doing that would get me audited, whereas if I use turbotax even though THEIR SHIT IS JUST AS BAD AS COINBASE, they've got deals with the IRS so I'm less likely to get audited.

If I can't get it figured out today I WILL just file manually and take out enough cash so that if I get my accounts frozen during an audit I won't starve to death.

[Anonymous No.57939564]

>>57939321
>A hardware wallet means it can be physically damaged and destroyed
That doesn't matter at all as long as you remember your seedphrase + passphrase.

[Anonymous No.57939574]

>>57939321
>because your coins would be worthless anyway after a hack
Literal reddit thinking. (>>57933374) Kek. Literal redditors are on /biz/ right now!!!

[Anonymous No.57939601]

>>57933673
>>57933344
Yep safe from doing any trades when there is any massive trend up or down.

>WHOOOOPS it's down sooooorry
>so sorryyyyy~
>we did 10x load testing, I swear.
Memewhile, you get dabbed on by onchain users.

[Anonymous No.57939620]

>>57933673
>holding coins at Coinbase
>holding coins
>holding
>coins

[Anonymous No.57939692]

>>57933344
>just leave it on Coinbase
you want it on exchange if you're planning to sell it or long

[Anonymous No.57939933]

NOT YOUR KEYS
NOT YOUR COINS
JUST USE A HARDWARE WALLET AND MAKE HOT WALLETS FOR TRADING
DONT CLICK FUNNY LINKS
DONT CONNNECT TO RANJEETS DAPPS HE SENT YOU IN TELEGRAM DMS
STOP BEING A NIGGERFAGGOT

[Anonymous No.57940013]

>>57933344
This is what mass adoption looks like. If I knew we would reach such levels of clownery, I’d be way way richer than I am
> t. oldfag who bought btc in 2012 to buy weed

[Anonymous No.57940085]

>>57933500
you are correct. my friend lost 9 bitcoins losing his phone where he stored his private key.
most people are to reckless and stupid to hold their own keys.
exchanges can fail, can cancel your coin, can freeze your assets if they suddenly suspect you're a drug dealer or terrorist, but it's still a better chance than keeping your key safe for long years.

[Anonymous No.57940096]

>>57939933
>HARDWARE WALLET
So the glowies know you have crypto when they seize your electronics? Great idea...

[Anonymous No.57940217]

>>57940085
If you are incapable of safely storing 12 words then you are too retarded to live.

[Anonymous No.57940307]

>>57940096
OK Mr CIAs most wanted

[Anonymous No.57940560]

>>57933461
Redditors hold the same opinions as the mainstream establishments they use, so they won't ever get punished for wrongthink like this, and because they assume they are the dominant and correct opinion, this could never happen, period, and if it does, you deserve it. They act exactly like religious zealots.