Search content
Sort by
Showing 5 of 5 results by MohammadMDP
Re: What if Coinbase and other Wallet services take all of our coins and run away?
That's a fear I have sometimes too. But coinbase is not some scam company. It has reputed and known founders. But still, if you want to keep your coins safe, store your coins in a hardware wallet.
That's the same thing as "hide your money under your pillow", what's the point? isn't a bank account better?
Crypto Currency is just a bullshit a few people made to scam the people's money out.
It's only useful for pirates, smugglers, thieves, drug dealers, scammers, who don't want their money to be traceable so that they can skip the money laundry.
Re: What if Coinbase and other Wallet services take all of our coins and run away?
Then you're up shit creek.
Up shit creek without a paddle!
cause if you loose your money in a bank, at least you have a paddle of suing.
but in Crypto Currency, how on earth can you prove that you had a wallet, and how much coins that wallet had?
even if the Blockchain has the history of that wallet address, how can you prove that wallet is yours??!
Re: What if Coinbase and other Wallet services take all of our coins and run away?
All of you just answered based on low possibility or the company's reputation or being a hard thing to do, or they will go to jail and stuff.
I don't know why do you think it is a very hard thing to do?!!
if the company is based inside the U.S, the FBI for example can get them only if they remain in the country.
It's so easy for Coinbase to do that, presume I'm the owner, I get out of the country today and go to a country like Russia or Iran, then I transfer all the coins in our database of wallets to my own physical wallet, then I convert them all to different currencies and store them in a Swiss bank, and then I shut the website down or just leave it be after clearing the database. now who can catch me? what can they do? easy money in one day.
I had to wait years to gather that much money, but now I have it in a day, and now I can start another business in another country without any trouble.
and about the "Hold your own wallet some place safe" thing, isn't that prehistoric?!!!
in the past people were putting their money under their pillow! and the banks were invented to change that and keep people's money somewhere safe for them and guarantee their money by official documents.
and now again, you are telling me I should hold my own money in my own wallet in my pocket or under my pillow??!!!
while there are so many benefits and services banks provide for us (like Bank Checks, Loans, setting withdraw limitations, and so many other services)
what does a wallet of bitcoin in your pocket do for you??!!!
what if you loose it? what if your hard drive break, and so many other what-ifs.
I think Crypto Currency is an idiotic idea in the first place.
I don't know why do you think it is a very hard thing to do?!!
if the company is based inside the U.S, the FBI for example can get them only if they remain in the country.
It's so easy for Coinbase to do that, presume I'm the owner, I get out of the country today and go to a country like Russia or Iran, then I transfer all the coins in our database of wallets to my own physical wallet, then I convert them all to different currencies and store them in a Swiss bank, and then I shut the website down or just leave it be after clearing the database. now who can catch me? what can they do? easy money in one day.
I had to wait years to gather that much money, but now I have it in a day, and now I can start another business in another country without any trouble.
and about the "Hold your own wallet some place safe" thing, isn't that prehistoric?!!!
in the past people were putting their money under their pillow! and the banks were invented to change that and keep people's money somewhere safe for them and guarantee their money by official documents.
and now again, you are telling me I should hold my own money in my own wallet in my pocket or under my pillow??!!!
while there are so many benefits and services banks provide for us (like Bank Checks, Loans, setting withdraw limitations, and so many other services)
what does a wallet of bitcoin in your pocket do for you??!!!
what if you loose it? what if your hard drive break, and so many other what-ifs.
I think Crypto Currency is an idiotic idea in the first place.
Re: What if Coinbase and other Wallet services take all of our coins and run away?
Then what benefits does it have against bank accounts when there is no security guarantee?!
In bank accounts if the bank you have money in, bankrolls, up to an amount guaranteed by central bank will be given back to you by central bank.
but in Coin Wallets, it's like you give your money to an unknown person and ask them to hold it safe and secure for you!! is't that idiotic?
In bank accounts if the bank you have money in, bankrolls, up to an amount guaranteed by central bank will be given back to you by central bank.
but in Coin Wallets, it's like you give your money to an unknown person and ask them to hold it safe and secure for you!! is't that idiotic?
What if Coinbase and other Wallet services take all of our coins and run away?
In the future there will be billions of dollars stored in Wallets, what if one day they decide to stop and shut down their services and transfer all the money to their own wallet and confirm the transactions and convert all of their coins(Bitcoin and any other Altcoins) to USD and disappear?
How can we get our money back? whom can we sue? how can we prove how much coins we had in their wallet?
How can we get our money back? whom can we sue? how can we prove how much coins we had in their wallet?