I just lost 1,400 BTC

Re:I just lost 1,400 BTC by brianwawok on Monday August 31, 2020 @02:30PM (#24334480)

Also, I think it's just the reason that crypto-currency will fail.

If you trick me into an ACH transfer of 16 million, there will

a) Trigger some random human based audits at my bank before the money can leave (likely involve some phone calls)

b) Have actual recourse, like court orders to hold the funds at the other bank

c) Take some amount of time to happen, to allow for A & B

It's not perfect, and it has bugs.. but I would never store actual money of value in crypto anything.

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Re:I just lost 1,400 BTC by pvg on Monday August 31, 2020 @04:46PM (#24335761)

If you trick me into an ACH transfer of 16 million, there will

Fun recent case - Citibank claims they fatfingered $900 million over:

https://www.bloomberg.com/opinion/articles/2020-08-25/citigr...

And they're having some trouble getting all of it back although the commentaries suggest that they (eventually) will.

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Re:I just lost 1,400 BTC by brianwawok on Tuesday September 01, 2020 @03:49PM (#24346208)

Yah, and this case is a lot different than someone hacked it. If it has been "hacked" it would have been a different story. More like a complex legal case + fatfinger.

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Re:I just lost 1,400 BTC by BTCOG on Tuesday September 01, 2020 @11:08AM (#24342606)

Naysayers consistently say that "It will fail," without realizing the chain continues to work regardless of your faith or mainstream uses. It works, it will continue to work. It works via satellite and radio. It's unstoppable like BitTorrent. It is decentralized. Faith or not, Bitcoin is not going to fail and it works perfectly as intended.

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Re:I just lost 1,400 BTC by lgregg on Monday August 31, 2020 @02:35PM (#24334539)

This is exactly the reason why I don’t use crypto currencies.

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Re:I just lost 1,400 BTC by swyx on Monday August 31, 2020 @02:36PM (#24334545)

unless a bank wouldnt serve you, like for sizable parts of the economy.

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Re:I just lost 1,400 BTC by throwaway43234 on Monday August 31, 2020 @02:39PM (#24334585)

Good reason to pull all crypto into fiat ASAP, store it in a real bank (or really, diversify it - user said that was the "vast vast majority" of their savings, that should never be all in one asset), and report it as other income on your taxes.

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Re:I just lost 1,400 BTC by eanzenberg on Monday August 31, 2020 @02:37PM (#24334561)

Sizable, like 2%?

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Re:I just lost 1,400 BTC by eanzenberg on Monday August 31, 2020 @02:40PM (#24334602)

I looked it up. 6% of Americans don’t have a bank account. Doesn’t say whether they could go ahead and get one, or they choose not to.

Sizable?

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Re:I just lost 1,400 BTC by soco on Monday August 31, 2020 @02:59PM (#24334785)

Correct me please if I'm wrong, but I'd say most of those folks not served by a bank wouldn't have the skills to manage bitcoins either.

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Re:I just lost 1,400 BTC by brianwawok on Monday August 31, 2020 @03:49PM (#24335267)

The 6% of people without bank accounts are often the least wealthy, more sick part of our population (basically, the people that need protected).

They do NOT have the technical skill to manage a bitcoin wallet. If anything it points even MORE to why we should not use crypto.

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Re:I just lost 1,400 BTC by blaser-waffle on Tuesday September 01, 2020 @12:37PM (#24343616)

Is this 6% of all USA-ians, or 6% of adults?

I don't expect most 10 year olds to have chequing accounts, and if we're talking about about all Americans I'm honestly surprised it's not higher, taking into account da yout, those who are mentally/physically infirm, and those folks who just don't trust banking.

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[dead]

Re:I just lost 1,400 BTC by dang on Monday August 31, 2020 @04:46PM (#24335771)

Would you please start respecting the site guidelines? We've cut you a ton of slack and given you a ton of warnings. If you keep violating them, such as by posting unsubstantive and/or flamebait comments, we're going to have to ban you.

https://news.ycombinator.com/newsguidelines.html

I mean, seriously:

https://news.ycombinator.com/item?id=24213951

https://news.ycombinator.com/item?id=23717834

https://news.ycombinator.com/item?id=22815833

https://news.ycombinator.com/item?id=19872246

https://news.ycombinator.com/item?id=16703618

https://news.ycombinator.com/item?id=16314542 ("we've warned you about this several times before")

https://news.ycombinator.com/item?id=15265824

https://news.ycombinator.com/item?id=14918125

https://news.ycombinator.com/item?id=12756676

https://news.ycombinator.com/item?id=12554500

https://news.ycombinator.com/item?id=11812475

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Re:I just lost 1,400 BTC by swyx on Tuesday September 01, 2020 @04:57PM (#24346969)

wow, you're very tolerant dang. i woulda hit the banhammer the 3rd or 4th time.

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Re:I just lost 1,400 BTC by brianwawok on Tuesday September 01, 2020 @09:28AM (#24341509)

Did not see deleting post between this and mine, was real confused what I did...

Keep up the good work dang

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Re:I just lost 1,400 BTC by pvg on Tuesday September 01, 2020 @11:24AM (#24342792)

The comment was flagged dead, not deleted. You can turn on 'showdead' in your settings to see dead comments.

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Re:I just lost 1,400 BTC by dang on Tuesday September 01, 2020 @02:15PM (#24344908)

Sorry about that! This confusion has come up before, and it's a really bad one when it hits. Can you suggest anything that would have made the situation clear to you in the first place?

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Re:I just lost 1,400 BTC by diggernet on Thursday September 03, 2020 @06:11PM (#24369469)

Coming in late here, but addressing your target by name would probably add a lot of clarity in these cases.

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