Nope, still can't get over the fact that the owner of FTX fooled people into giving him money for a cryptocurrency that didn't exist.
@DarksideStraxus Isn't that, like, literally the whole crypto biz model?
#crypto
@Ironworker229 @DarksideStraxus
That would be the #crypto biz model for bad actors. Understanding the uses and purpose of it helps to show which are good and which are not. It's about blockchain tech. Everyone should do their own research. Banks that are regulated are now in it as well. If you transfer money, sometimes it might transfer by way of #crypto and you don't even know it.
https://www.creditdonkey.com/crypto-friendly-banks.html
@sghamel @DarksideStraxus LOL! You do you and you have my sincere best wishes, but I am realistic and humble enough to know that I am in no way competent to "Do my own research" on just about any part of the #crypto schemes out there. I'm sure that there are sophisticated traders (gamblers) that lose their ass every time a crypto crash happens. I think there have been several, already. If banks want to use it internally, I'm sure they'll receive a gov't bailout if needed. I won't.
@Ironworker229 @DarksideStraxus
LOL, all good. Not trying to get anyone involved that doesn't want to be. I am just saying that blockchain and #crypto will be around in some form or fashion from now on. I enjoy it and it provides extra income for me but I am a researcher by heart, so I am more careful than most about which to choose. I will say that my wife and I like to gamble and usually small when it comes to unknowns. Like they say, only invest what you can afford to lose. Cheers!
@sghamel @Ironworker229 @DarksideStraxus agreed. There are bad crypto currencies out there, hundreds of them. Don’t be fooled by low prices and big hype. However, the underlying technology behinds it, decentralization, public visibility, and open blockchain is solid and legitimate. There will likely be one main currency to rule them all, but it’s not going away. This is an informative film to learn about crypto ➝ https://youtu.be/Y2qe3hFeQ5g
@bfgreen @Ironworker229 @DarksideStraxus For the most part I agree with you. I do disagree about, there will only be one in main #crypto currency in the end. I believe there are at least 2 main and many sub-main that will rise to the top like cream. Like the original internet the top companies survived and the sketchy ones disappeared taking many down with them, not unlike Mt. Gox and of course FTX. I used to work in the blockchain field, but now just watch and learn. Thanks for the link.
@sghamel @Ironworker229 @DarksideStraxus you’re probably right, they’ll be a handful of choices with varying capabilities. Curious if you know much about hardware wallets and have suggestions. Always looking for direct advice. I use a Ledger Nano X HW wallet and like for the most part. Have gotten to the Coinkite Coldcard level yet!
@bfgreen I have 2 of the nano's. I keep one in my office and one locked away and I have a secure file in 2 places with the seed phrase. Both files are encrypted so as to keep them safe. When I travel I carry the empty one and can restore with the seed phrase I have in a cloud anywhere in the world to access my wallet. Same seed phrase for both. When I get home I wipe the extra one and go back to the one in my office. #crypto
@sghamel similar for me other than one is a Nano X (stored) other is Trezor (travel). I have three steel backups of my seed - nothing in cloud. I work in cloud technologies and know some of our capabilities. Here’s my steel backup model, super easy ➝ https://youtu.be/3Aj_EHOu9WE
@bfgreen Biggest thing about storing the seed in the cloud is to label it for the wrong device/wallet, if someone should happen to run across it and care enough to try to figure out what to do with it. Anyway, I figured out years ago that if I carry a wiped nano, there is no issue of customs and how much "money" I am carrying. There still needs to be clarity about that.
#crypto