Quote from: Nahl on August 03, 2016, 02:43:06 PM

yes i have been learn it since cryptsy got hacked and my friend lost his funds on those exchange i have strong reason to not trust them 100% and currently i personally more prefer to save all of my bitcoin to my own wallet because i could get full access and control all of my funds but in exchange i could not able to do that

if everyone does this BTC will simply die.

Most of the reason BTC works is exchanges like this stand to turn some profit on trades and speculators.

This is very simple btc transactions run 300,000 per day on average on the actual blockchain.

What happens here on this is exchange is I give a btc. It is 1 transaction my address to the address on the exchange. That shows on the block chain.

On the exchange servers that btc is chopped diced and converted to other coins cash what ever with next to zero transactions on any blockchain of any coin.

this is how btc still works as a commodity that is tradable. If every transaction my 1 btc did was on a chain it moves to slow to trade.

Anyone that says don't leave money on an exchange is correct if you simply want to convert the coin to another coin or to cash.

But if you have any desire to buy and sell and trade you must leave the coin in the hands of the exchange.

Frankly the owners of this company should be put to death by Chinese government since Hong Kong Belongs to China last that I heard and China still has the death

penalty.

I only say this because they are guilty of murdering crypto coins due to insanely stupid security. If people think the ETH fork into ETH/ETC was bad this is worse. Since killing off a huge exchange makes the coins closer to worthless ness. Without a safe way to trade and without a larger on blockchain transaction limit BTC is going to die.
This is where we are today. Exchanges crash and burn time and time again. Plus the blockchain transaction cap stays the same.

To those that say traders should not trade crypto coins I will forgive you for lack of understanding why the coins exist in the first place.
Hint sitting in a few addresses doing nothing is not the correct answer.