Crypto Bros in the house?!?
🗣️ DISCUSSION 💬
To all the crypto guys that lurk among us. For those of us who are crypto-finance retards, what should we be investing in? WTF is the difference between Bitcoin and all the other shit?!? Help us out! I want to get in on this scam
Bleutrade was hit and miss, up and down. Should have withdrawn and gotten out before they went offline for good. One day they restricted withdrawals only if you ID'd yourself and were in their geographical country preference list as I recall.
Cryptopia was like Mount Gox all over again. Personally I think it was an inside job. I'm not alone, look how many people still use: Coinbase, Binance, Kraken and so many others.
As for Loopring, that was a bigger bullshit deal. I had 2FA setup but it was a backdoor hack on the service that handled their "guardian" setup. I personally believe it also was someone on the inside that knew how everything was setup. Loopring's response has been total crap. They got hacked, didn't report it, then got hacked again when customers lost funds. They've done nothing to make their customers whole. As you should know, Loopring smart wallet is billed as "be your own bank" a decentrailzed, not centralized, wallet. Didn't matter. They were able to pull everything out of my level 2 wallet.
So that is my advice, don't trust any wallet, use cold storage at all times until you want to cash out.
I agree, thats the take i have.
Coinbase and Kraken have FDIC insurance and give a lot of info to the Fed like a bank. I doubt theyll go under until you have a big fallout with the banking sector just because of all the info they have to give but I could always be wrong.
If you get a chance, i recommend looking into Cardano and how its built. Charles Hoskinson can be a pain for a lot of people but I think the people building Cardano are doing something right. They've had no glitches or hacks on the blockchain in 8 years though there have been a few projects that rug pulled. The big con is that progress can seem slow from the timeline of announcement to completion of a big change.
They have a solution for practically every problem in the crypto industry. Their governance is also something to admire but they'll have to make it dead simple easy for users to become a drep, find dreps, and vote. Lace wallet was supposed to help with that.