Earlier quoted context omitted.
It’s happening right now.
Can you elaborate on this?
Exodus Bitcoin Wallet: $490k swindle
261–270 of 297 posts
Re: Exodus Bitcoin Wallet: $490k swindle
#262Even the real version is the app is a software wallet right? If you have almost 500k in BTC and do not have it on a hardware wallet and use their official software for it, I have to say it's at least partially on you if you lose it.
It wouldn't matter. If your seed phrase is exposed, you lose all funds.
You sound like you do not understand hardware wallets. The point of the hardware wallet is that you NEVER EVER expose your seed phase you basically hammer it in some metal or buy something that survives fire with your seed phase, and you NEVER EVER type it into any program, nor to you write it down from a computer screen but only directly from the wallet device. If anyone is dumb enough to go through the setup process of a hardware wallet and STILL end up typing their seed phase into some software wallet, then it's on them.
So hell yeah, it would matter, because that setup process alone makes you understand crypto better and why it's isolated from your PC. As others mentioned, that person later realized this.
Re: Exodus Bitcoin Wallet: $490k swindle
#263Even the real version is the app is a software wallet right? If you have almost 500k in BTC and do not have it on a hardware wallet and use their official software for it, I have to say it's at least partially on you if you lose it.
Bitcoin "wallet" is just a pair of public and private keys. Honest question - what is the difference between a "hardware wallet" and a thumbdrive with the keys on it, except for the price tag?
You sound like you really do not want to understand this at all. It's COMPLETELY different.
Re: Exodus Bitcoin Wallet: $490k swindle
#264[flagged]
Re: Exodus Bitcoin Wallet: $490k swindle
#265Earlier quoted context omitted.
“Enforcing laws” with regard to what? Censoring transactions? Freezing accounts? If people want a system where this as well as excessive inflation are close to impossible, they now have an option, with the clear caveat of that ownership. It’s not like there aren’t other options to choose - custodial services and multi-signature wallets. Banks are custodial services too, and that’s fine.
> “Enforcing laws” with regard to what? Censoring transactions? Freezing accounts? Fraud. Transaction rollbacks. Consumer protection laws.
[deleted]
Re: Exodus Bitcoin Wallet: $490k swindle
#266Earlier quoted context omitted.
Early days… 15 years later. To quote spaceballs, When exactly will “then” be “now”?
In 1980 packet switching had existed for 20 years already. The public Internet wouldn’t emerge for more than a decade after that—and it would take yet another 20 years for the true power of packet-switched networks to be realized, in the form of mobile Internet. In 2000 neural networks had existed for more than 50 years. More than 20 years later their full potential is finally being realized, and many would say it is…
IMO, your timelines are way off and the goalposts are totally skewed. In 1980, the Commodore 64 hadn't even been released yet. Even so, 15 years later, in 1995, almost 15% of adults had dialup access to the Internet. The real goalpost here is the advent of the WWW.
TBL released his paper and source code for the WWW on April 30, 1993. On that date, all that existed was an idea and a command line browser. Most people only knew the web in those early years as "that thing you could reach by telnet to info.cern.ch".
Even given this modest start, fifteen years later, in 2008, nearly 75% of adults used the internet according to a Pew research study (https://www.pewresearch.org/internet/2015/06/26/americans-in...). In 2008, we already saw the emergence of the e-commerce market, with upstart Amazon already commanding a 1% share of the entire retail market (to put in perspective, that grew to ~6% by 2019, according to Census and Morgan Stanley data: https://finance.yahoo.com/news/chart-shows-just-big-amazon-r...). Heck, by 2008, you could watch a movie instantaneously on your TV without renting or buying the DVD! (https://web.archive.org/web/20080525201828/http://www.netfli...)
So yes, you can determine something about the relative strength of a particular technology by the speed it is adopted in the marketplace. Fifteen years is a long time, and even taking into account the slow Internet speeds between 1993 and 2008, people found enough value in the Web to use it on a daily basis. I don't see the same adoption curve for cryptocurrencies.
Re: Exodus Bitcoin Wallet: $490k swindle
#267Earlier quoted context omitted.
have fun staying poor.
lol, cry more.
Re: Exodus Bitcoin Wallet: $490k swindle
#268Earlier quoted context omitted.
I think what parent is saying is the DNS request could have gone to your domain but the TLS handshake and HTTP POST could have contained another domain, because your site and the bad actors server could both be behind the Cloudflare CDN, which would handle both transparently.
No, I mean the initial HTTP request can go to some other site, which can then issue a redirect to anywhere it pleases (i.e. to exchangerate-api.com). If you're running a malicious service and you want to throw people off the scent, one common strategy is to redirect to random legitimate services so that anyone investigating thinks you're part of the other service.
Such a redirect would be visible in wireshark.
Re: Exodus Bitcoin Wallet: $490k swindle
#269Earlier quoted context omitted.
“Enforcing laws” with regard to what? Censoring transactions? Freezing accounts? If people want a system where this as well as excessive inflation are close to impossible, they now have an option, with the clear caveat of that ownership. It’s not like there aren’t other options to choose - custodial services and multi-signature wallets. Banks are custodial services too, and that’s fine.
If you want lawlessness go ahead, but don't come crying when someone steals your riches or punches you in the face.
Yes. The option now exists to have private digital means of exchange, free from direct government devaluation. There are absolutely drawbacks; it is not for everyone.
Re: Exodus Bitcoin Wallet: $490k swindle
#270Earlier quoted context omitted.
“Enforcing laws” with regard to what? Censoring transactions? Freezing accounts? If people want a system where this as well as excessive inflation are close to impossible, they now have an option, with the clear caveat of that ownership. It’s not like there aren’t other options to choose - custodial services and multi-signature wallets. Banks are custodial services too, and that’s fine.
> “Enforcing laws” with regard to what? Censoring transactions? Freezing accounts? Fraud. Transaction rollbacks. Consumer protection laws.
Those should be applied at a higher layer than the base one, and the vast majority of people should be using custodial services if they have access.
A much smaller fraction should be using open source and audited hardware wallets as well as offline paper wallets.
People will have the option to shoot their foot off with real, direct control, yes. That option or ‘genie’ doesn’t go back in the bottle, not permanently.