Post
Topic
Board Bitcoin Discussion
Re: Did I just lose my Bitcoin?
by
figmentofmyass
on 24/12/2017, 09:58:33 UTC
I don't think I will ever invest in Bitcoin again. It's way too risky and the fact that operations can't be undone makes is highly unappealing.

One mistake in the sending or receiving address and you're screwed I mean that's just messed up isn't it?

i hear you. the reality is that many users (if not the majority) have gotten scammed once or twice when they first got involved with bitcoin. nearly instant and irreversible electronic payments = a natural niche for scammers.

but regarding the "One mistake in the sending or receiving address and you're screwed" comment--there is actually a checksum mechanism built into bitcoin addresses that largely prevents that. so if one of the characters is mistyped, the checksum will be invalid and wallets won't allow you to send the transaction.

what happened was a phishing and social engineering attack. that's the most common way to get your bitcoins stolen. as long as you keep your bitcoins in cold storage and are careful about getting socially engineered, you'll no longer be low hanging fruit.