this post was submitted on 25 Feb 2025
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Crypto once again showing why it’s either just a casino with extra steps or a way to buy drugs rather than a serious solution for any currency or real world transactions.
It’s so amazing and digital and modern and easy to steal.
Are there crypto scams? yes, and plenty of them. Can you buy drugs with them? sure (and I thinks that's great!) Do either of the above statements get at the core issue here? not at all.
The issue here is not with the crypto itself. The issue here is the same issue that is regularly a problem anywhere software is deployed, digital security. The take away here is that many (all?) crypto exchanges are failing to properly secure their systems. Which is why the general rule that anybody investing in crypto should follow is never keep crypto in an exchange wallet unless you plan on trading it in the very short term. As an extension of that rule, you should never keep your crypto in a wallet that you don't hold the private keys for. If you don't have the private key for the wallet, it's not your wallet. Not your wallet, not your crypto.
You know you could’ve asked what I already know instead of assuming it’s nothing and giving me the most basic 101 lecture all because I spoke ill of the almighty crypto. I mined for three years.
It wasn't meant as a lecture for you. I made no assumptions about what you know, just what you said. The lecture was for others coming by your comment because lots of people don't know the dangers of keeping crypto in exchange wallets.
Apologies if I offended you.