Bitcoin Thread

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L-Dog said:
Maybe long term but initially there will be a massive lack of trust in the space and all crypto will crash guaranteed. Long term their might be a recovery but if you don't have life changing amounts of money I would just leave it on a reputable exchange instead of a ledger which only comes into play if you are a high roller.
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Even as just a SMALL minnow, I have the opposite view: there have been just too many exchanges that disappear with the crypto. I follow the motto: Not your wallet, not you bitcoin.
 
How safe is it to access crypto exchanges on public wifi if you use a VPN, ensure the wifi is the correct one, stick to https websites, have 2fa set up and use different email addresses and passwords for each exchange? I'm seeing conflicting information online. If it's not safe, can someone explain how the risk comes about exactly?
 
Wary GOM said:
Even as just a SMALL minnow, I have the opposite view: there have been just too many exchanges that disappear with the crypto. I follow the motto: Not your wallet, not you bitcoin.
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And far more instances of people losing their own wallets.

Much safer with reputable exchanges.

Problem is people don’t look for reputable, they look for cheap. Cheap = shortcuts.
 
SauRoNZA said:
And far more instances of people losing their own wallets.

Much safer with reputable exchanges.

Problem is people don’t look for reputable, they look for cheap. Cheap = shortcuts.
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Certainly people look for cheap not quality. Nonetheless, having all my crypto on an exchange is pretty much the same as having all fiat in one bank account.
 
Wary GOM said:
Certainly people look for cheap not quality. Nonetheless, having all my crypto on an exchange is pretty much the same as having all fiat in one bank account.
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I mean similar logic applies.

Would I give all my money to African bank? Not a chance.

Would I give it to FNB? Sure thing.
 
Wary GOM said:
Certainly people look for cheap not quality. Nonetheless, having all my crypto on an exchange is pretty much the same as having all fiat in one bank account.
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Only in the most basic sense of assets being in one place. Exchanges don't have nearly the legal obligations banks do.
 
There has been another de-peg...

watcher.guru

Huobi linked Stablecoin de-pegs: Down to $0.85

Stablecoins losing their peg is no more a rarely occurring phenomenon in the crypto space. It all started in...
watcher.guru watcher.guru

Huobi linked Stablecoin de-pegs: Down to $0.85​


Stablecoins losing their peg is no more a rarely occurring phenomenon in the crypto space. It all started in May when Terra’s UST crumbled in value. A bunch of other stablecoins followed suit in the subsequent months.

On Thursday, HUSD noted a 8% drop in price and was trading at $0.92 at press time. In fact, on decentralized exchanges, it was priced at $0.85 against USDC, USDT, DAI. In fact, Curve Finance’s warning read, “Exchange rate is too low!”
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And another one ---​

​

Cash-Backed HUSD Stablecoin Loses Peg, Drops to 92 Cents​

The stablecoin is trading as low as 89 cents against USDC on Curve Finance.​

By Oliver Knight
AccessTimeIcon
Aug 18, 2022 at 10:58 a.m.
Updated Aug 18, 2022 at 4:23 p.m.
 
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