http://btc-e.com is an exchange that saved me from MtGox fiasco in 2013 as i chose to trade on it.
The main info on this exchange is - its anonymous, despite all this years nobody knows who run it or where is it.
For this reasons some people love it and use it, and some are scared.
Markets
Today over 12h ago exchange went down
Of course this can happen to any exchange to have ddos or other problem but this makes people nervous.
I pretty much trust this exchange but you never know ;) Theres also stories online of people who got frozen there and never got their money out.
So a reminder - do not hold coins on exchanges unless you need to trade.
Every time you send coins to some place where you dont own private keys of you risk losing everything.
Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips! |
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No private key = You have counter-party.
UPDATE - LOOKS BAD.
Thx for sharing.
In paper wallet we trust.
What an idiot. Probably couldn't pull in money anymore, so instead of looking to merge with another exchange, do actual god damn work. He just tried to run away with an insane amount of cash. I hope he gets locked up for the rest of his life.
Upvoted!
P.S. I've recently moved to Whaleclub for my trading. Whaleclub also gives you demo money to play with, to try it out before you commit any real money. Comment or PM me with any questions. I'd like to get a group of us together possibly to discuss current events in the crypto space :P
https://whaleclub.co/join/NcE0h - 30% bonus on first deposit with my link!
whale is terrible..spread is so weird and bonus is a sign of no good..could soon scam us..
Idk, I've had plenty of success there. It's a day trading platform, not to hodl or anything. The bonus is paid out when you have losses to minimize them at first. You don't get a lump sum of 30% just deposited. Please, continue how it's terrible. :)
This includes all coins and not just BTC? Can you keep your coins on Coinbase or is that not safe as well?
Don't Leave your Coins on any Centralized Exchange this includes CoinBase and Circle!
@kingscrown, we may be seeing a week of "stress tests" for all the Bitcoin exchanges.
https://steemit.com/bitcoin/@belerophon/why-bitcoin-will-soar-to-new-highs-on-august-1st-and-how-to-profit-from-it
FULL STORY FOR NOW - BTC-E CONNECTED TO MTGOX HACKS AND MORE
http://blog.wizsec.jp/2017/07/breaking-open-mtgox-1.html
This has got to be the most ironic thing to happen to you. The exchange that "saved" you from the Mt gox hack played a big part in the exchange going down XD
I admit.. :)) But we will see how it goes
the moral lesson of never keeping coins on Exchanges is true but Hardly applicable for traders. A cautious risk management and portfolio diversity fits better.
indeed, just remember when you go to exchange to trade you may loose coins.
i had to trade so i knew the risk
Welcome to Brazilian Portugueses
https://steemit.com/autoconhecimento/@caioasc/hello-everybody-here-it-s-caio-castilho-talking
Countdown start , put your eggs on hard wallet ...in crypto world now hacking is normal now day by day some one hack , be safe be happy
This post received a 3.9% upvote from @randowhale thanks to @ehujra! For more information, click here!
@ehujra i think the only time you should trade your coins from a offline wallet is when you are using them as soon as you have exchanged them you should put them back to keep them safe tooo many people deposit to much coin into online wallets aswell (to cover fees) however people need to start working out the fees the will occur and only transfering the correct amount will maybe 2% extra to cover any fluctuation while the transaction is being signed. this will make you more likely to keep your coins rather than loose them to hackers!
As confirmed by Reuters, one of its founders got arrested, which should be the cause: https://steemit.com/cryptocurrency/@bcn/breaking-btc-e-affiliated-russian-citizen-arrested-for-laundering-usd4-bln-in-bitcoin-over-six-years
It could also be an excuse for the other operators to abscond with all the coin!
Each news that comes like this takes us one step closer to the mainstream adoption of decentralized exchanges,this could be the solution.
Defnitley
It might be tougher to implement, considering the monopoly of a coin like BTC
Possibly but we don't know the long term stability, BTC can either be the Berhshire Hathaway stock or a fad at this point.
My sentiment too :)
You can say that again buddy
True!
@datageek I think everything to do with cryto eventually will be decentralized like the darknet markets that are now being taken down i think will come back up as a anonymous community decentralized market like a darknet craigslist or ebay but based around crypto. also Steemit and steem is proof of how effective decentralization is.
Alphabay got outed by a newcomer because the new one offered multi signature transactions. Therefore the owner cannot run off with your cryptocurrency
Atomic swaps in the Lightning network (LN) will eventually make exchanges redundant. Segwit will start the development process of implementing the lightning network. It's already being developed for Litecoin, but ignore the hype. LN won't be ready for August 1st, that MIT hype was a hoax by an MIT student.
Yea, only trade and then withdraw to you wallet. What happened with mtgox is quite crazy, i hope it never happens again.
This post received a 3.4% upvote from @randowhale thanks to @sticker! For more information, click here!
Exchanges are definetly NOT a safe place to keep your coins in :p
This post received a 2.2% upvote from @randowhale thanks to @steemian69! For more information, click here!
Always good advice but Blockstream and Core developers have made Bitcoin and slow and expensive to move. For these reasons I've found myself leaving it on exchanges for too long. I'm looking forward to a fork away from their control and giving bitcoin the functionality it had for years before they got involved.
I'm looking forward to Bitcoin Cash as well, can't wait to fork away from BSCore's dev centralization and get some real much needed on-chain scaling.
I could not agree more! People need to wake up and see that segwit is destroying the beauty of Bitcoin!
@spiftheninja, Ofcourse segwit will ruin bitcoin also people who have bitcoin in a exchange like coinbase will loose out as they say they will only give you one side of the fork rather than both so in effect you will loose half. People should just leave BTC and all other crytos to do what they want rather than trying to make BTC go the way of etherium.
yeah me to waiting for market to get stable and want to buy some good coin which will make good money
it's NOW TIME TO BUY MASSIVELY.
@dumptrump are you recommending he buys bitcoin at its current price?
i know its gone from 2800 to 2400 but i wouldnt invest in bitcoin until it his 2100 - 1900 as i think it will go back down to 1700 to 2000 for the next few months.
https://www.tradingview.com/i/l145T54J/
but after 1 august it will go high
What date is Bitcoin Cash going live? As long as you have a physical wallet, will you get Bitcoin Cash at the fork?
on August 1. Jaxx, freebitco.in(a bitcoin hot wallet too) have announced/planning on supporting bitcoin cash. But i will be selling that shit when it's released. Segwit is a must. I also love bigger blocks but no too big , 4 mb is the max I accept.
And yes physical wallets will support it if you want to download the whole bitcoin abc node.
Bitcoin Cash will be gone soon. Owners have 5% of the marketcap so are big whale contenders. Segwit is a must. Bitcoin cash is only beneficial to fat cat miners who don't want to lose out to segwit's cheaper offchain transactions. Off chain bites into their profits, thus the greedy hard fork
I have recently been staying away from btc in general because of the high fees to move it around. I would rather trade with btc on the exchange and take out ltc, or eth.
@paulygg, I wouldnt touch bitcoin until mid august after the segwit on august 1st happens and then i would wait 2 weeks for the market to settle but as you say i have some litecoin but i would also stay away from ethirium as i think it will loose value soon as there is a unlimited amount of ethirum so the marketcap will spreed acrosss more coins as currently there are 91,018,773.78 but if there is 200,000,000 then the price will effectivley be halved unless the hype continues
Is Eth going to remove the cap on the number of ETH created? I hadn't heard that.
@mynewsteemit i read something about it being removed not sure if it was correct ill try and see if there is a real source on it
I thought eth never had a cap. I think ETC does.
I just started and this is the plan of action I've taken.
follow me.
follow me.
Follow me
Follow me
BTC-e is the oldest of all the current exchanges - been around since 2011. They have always been a reliable exchange. If there was a reputation system for exchanges, BTC-e would have the highest ranking.
So it makes sense the government wants to shut it down with their typical BS "money laundering" accusations. What Alexander is really getting arrested for is running the exchange.
I was told the exchange wasn't making money like Poloniex, and other competitors. If you look it up, it's not on a lot of alt coin top 5 trading sites.
Just curious, where do you get your info for "top trading sites"? And what do you base that on?
I run a mining group. Our connections to some of these alt coins allows us access that most people don't have. We've stayed with Bitfinex, Bittrex, Coinbase for purchases, trades. When a coin value is high enough we store them into offline wallets.
Really good advice. Coins on an exchange are not yours. Period.
This is especially relevant with the coming chaos on August 1st. Regardless of what happens, keeping your coins in your own wallet ensures you have control on whatever new chains come about.
I recommend Breadwallet for casual users who have some Bitcoin on an exchange and haven’t used a Bitcoin wallet before.
See my post below for information on Breadwallet and what to do come August 1st.
Chaos is Coming; a Praise of Breadwallet: keep control over your coins, follow the chain of your choosing.
@KYLE.ANDERSON I'd rather recommand a cold wallet as EXODUS or JAFF !
Neither are “cold wallets”. Also both are not fully open source. A critical problem and complete dealbreaker for me.
i used this exchange from 2012 , when bitcoin was 300$ i sold all my coins to them converted to my netteller
i think ive used from 2013 but when its gets back ill check my history :)
good ol days when BTC was cheap
Wish i had bought more bitcoin then
Buy BTS then, if you want that old-tyme goldrush feelin'.
They've been a very reliable exchange for a long time, so it makes sense the US govt wants to shut it down.
Well makes me glad I switched to Whaleclub for my BTC trading. Wish I still had some coins from the dark ages..
Use my link and get 30% bonus on your first deposit!
Link: https://whaleclub.co/join/NcE0h
Went to btc e as well after mt gox. Leaving coins on an exchange can be a painful thing, i learned that lesson last year on bitfinex.
Question...I know Coinbase keeps everything in cold storage so I'm not as worried about my coins there....but why doesn't Kraken, Poloniex, etc give you the option if you're not going to trade, to cold store them? That sure would be nice. So I'm guessing you keep all your coins in a nano ledger?
EXODUS my man !! trust me
rip
PSA: Please use the Bitshares DEX. You can't get hacked and no one can steal your coins. You can trade Bitcoin, USD, CNY, gold, silver, anything with no risk and cheap fees. Just DEX. :)
I hope it's coin continues to grow in value on the market.
Thanks for the reminder!
Great advice and this cannot be stressed enough to get your BTC off exchanges and into a paper or bread wallet, somewhere where you own the private key. Re-Steemed
Here's a great video by @lukestokes of how to set up a paper or bread wallet.
"If you don't control the private key, you don't control the crypto-currency."
Ive never used that exchange, but if i did I would prob find a new one after that!
"unplanned maintenance" doesn't sound very good at all. It's really surprising that almost all the major exchanges get hacked over the years, but somehow btc-e escaped the wrath of the hackers.
Thanks for the important information! But in your opinion, even in exchange as bittrex and poloniex isn't sure to keep the altcoin?
Are there any secure multicoin wallets?
Here is the real reason BTC-e is down:
BTC-e Down for Good? The real reason for "maintenance" revealed!
Thanks for your tips!
I agree completely that coins should not be left on exchanges. You see far too many pictures and videos of people showing off their portfolio of crypto where it is all on an exchange. They are risking losing it all in the event of a Mt Gox style shut down.
I appreciate it is difficult if you want to trade regularly and it can be an issue to keep track of many different wallets and back ups etc but this is by far the safest way of keeping control of your coins. Trezor now supports several coins (not sure about Ledger) but there are other multi wallets.
This advice is also particularly pertinent at the moment with the ongoing issues with Steem at Poloniex and the potential of a bitcoin chain fork, you should ensure you maintain control of your keys!
BTC-e is the oldest of all the current exchanges - been around since 2011. They have always been a reliable exchange. If there was a reputation system for exchanges, BTC-e would have the highest ranking.
So it makes sense the government wants to shut it down with their typical BS "money laundering" accusations. What Alexander is really getting arrested for is running the exchange.
The best is to store your coins on a hardware wallet, like Ledger Nano S or Trezor. Lot's of unexpected things happen in the bitcoin world and people lose their coins to "inside hacks" very often..MtGox, Bitfinex etc..
Can you store every crypto in these wallets? Is it tough to do? Seems like there's a different process to cold store btc, as opposed to monero, as opposed to Civic, etc.
It's kind of sad you see nothing has changed with exchanges in 4 years. Thanks for the reminder. Keep those coins safe boys and girls!
Gox taught me my lesson. Lost so much in that fiasco I've never trusted an exchange again.
how did you lose just wondering
It's an exchange that got hacked and lost everyone's money.
Opps i meant how much
Markets are always a risk , have to play the cards right @kingscrown thanks for the advice (:
:o
i'm actually feeling safety only with erc20 tokens offline!
Nice work.. 👍
STEEM On!!
Awesome!
It's crazy to think that even some of the oldest exchanges come across issues. The absolute most secure way to store your coins is through an offline hardware wallet where you hold the private keys. I personally use the trezor and highly recommend it to anyone that is looking to purchase a safe and secure ledger. Here's their website:
https://shop.trezor.io/
There are some dangers when one re-hypothecates something. Obviously, you design derivatives so that you can sell 2 copies of the same thing for the same price. It can be very addicting when it works. Just ask the Federal Reserve. These exchanges might have just been called to account. If there are 3 people with a claim to the same BTC, who gets the BTC-C?
Might be carnage over the next few weeks, and when the dust settles, the starting blocks set for the next Crypto race.
You never know, no matter how much you trust a service. Be aware of everything !
Thank @kingscrown Great advice! I'm always worried about things like this, so good to get confirmation I'm right to worry. Cheers!
Always best to use a hardware wallet to store your coins. Trezor or Ledger are two of the best ones. I personally like trezor better.
Apparently BTC-E have been laundering the missing MT Gox coins and the guy has been arrested in Greece. This is why the sites down.
Thank you for sharing this information @kingscrown what are the safest wallets to use for the different currencies?
Unscheduled maintenance implies that they need to do an audit - which means they've likely either had wallet problems or have been hacked. I hope they have insurance in place in case they were hacked.
Is exodus a paper wallet?
thanks for the advice man!
Is keeping SP and SBD here in Steemit the same as an exchange? If not how is it different?
No, it's not the same. The difference is that when you create an account on the Steem platform you get a master key (a private key that you control). If you go into your account settings you'll also see your other keys. You have a post key, memo key, owner key, etc... In crypto world your wallet key is in essense your wallet. That's why it's so important that you never lose it. No one can recover it for you. This is the built in security of crypto currencies. When you store crypto on an exchange, you are really storing your funds in their wallet. They control the private keys to all the wallets you have under an exchange account. You're just trusting that they'll continue to allow you access to their wallet which holds your funds. That's why you'll always hear that if you don't control the private key, you don't control the funds.
There is extra security layer with steemit, you can't withdraw all steem at once, you can withdraw only portion on weekly basis. First I though this is annoying, but on the other hand if your account gets hacked, you still have some time to recover it.
I'm not sure how exactly this can be done.
I have my login and owner password stored in password manager and backed up.
I wonder if something like steem cold wallet is possible.
This type of news is good. It incentivises people to take their crypto off of exchanges.
All are in red Bitcoin Exchanges Down
This is truly the Wild Wild West. Thx for posting, I'm waiting on some hardware wallets to arrive, but 90% of my coins are in cold storage.
resteemed, as usual.
I enjoy reading your posts and others like it, but I wondered why steemit is not on the list of active crypto markets you have shown?? I'm not upset, just concerned..
All my currencies are out of an exchange, it really is like playing Russian roulette if you leave it in there.
I am pleased I have been doing heaps of research before buying any.. I am yet to take the plunge...So much to learn! Pleased I learnt about cold storage before i buy ..not into playing russian roulette lol.
Hehe yeah it is always a bit tricky, you can start off buying your desired cryptocurrency (like using for example coinbase) and transfer to your desired wallet :)! x
I have signed up to coin base and coin jar but need to learn about wallets :-)
Good post and very interesting. The kind of science that I get after I read your post.thanks for information...
I am a newcomer to steemit community, I really need the support of senior steemit to be successful in steemit like my senior senior in steemit like @ good-karma, @sweetsssj, and levycore ... I am very dream to succeed in steemit ... hope May be helped to realize my dream.