1. #1
    QuangX
    QuangX's Avatar SBR PRO
    Join Date: 02-03-11
    Posts: 2,755
    Betpoints: 6668

    what happens when bitcoin get stolen from these exchanges?

    Are they gone forever? people are SOL? shit out of luck?

  2. #2
    Russian Rocket
    Kleptoman
    Russian Rocket's Avatar Become A Pro!
    Join Date: 09-02-12
    Posts: 43,910
    Betpoints: 533

    gone as ...Gone Baby, Gone!

  3. #3
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    be careful do not let it sit

  4. #4
    manny24
    pay Bobby
    manny24's Avatar Become A Pro!
    Join Date: 10-22-07
    Posts: 20,088
    Betpoints: 649

    stickfukked

  5. #5
    QuangX
    QuangX's Avatar SBR PRO
    Join Date: 02-03-11
    Posts: 2,755
    Betpoints: 6668

    Quote Originally Posted by jjgold View Post
    be careful do not let it sit

    This is crazy....

  6. #6
    pavyracer
    MOLON LABE
    pavyracer's Avatar SBR PRO
    Join Date: 04-12-07
    Posts: 82,189
    Betpoints: 410

    It's like asking what happens to your money if you have already paid the prostitute and the police bust you before you ***.

  7. #7
    QuangX
    QuangX's Avatar SBR PRO
    Join Date: 02-03-11
    Posts: 2,755
    Betpoints: 6668

    Well, How does a company survive if they owe people 60. something million. So that company does underwater?

  8. #8
    BIGDAY
    angelman.org
    BIGDAY's Avatar SBR PRO
    Join Date: 02-17-10
    Posts: 48,241
    Betpoints: 24866

    Quanger... No more questions. Let's concentrate on pounding winners.

  9. #9
    QuangX
    QuangX's Avatar SBR PRO
    Join Date: 02-03-11
    Posts: 2,755
    Betpoints: 6668

    Quote Originally Posted by BIGDAY View Post
    Quanger... No more questions. Let's concentrate on pounding winners.
    Just lost like $2k. im pounding something....

  10. #10
    ThaWoj
    hope i dont wake up tomorrow
    ThaWoj's Avatar SBR PRO
    Join Date: 03-09-10
    Posts: 6,260
    Betpoints: 3427

    the long term forecast for DEC 16 is still over 4 figures

  11. #11
    BuckyOne
    BuckyOne's Avatar SBR PRO
    Join Date: 01-02-15
    Posts: 2,727
    Betpoints: 19273

    If you screw up your deposit and send it to the wrong address(miss it by one letter/digit - you are just screwed - money is in cyber space?

    But, isn't reflected in the overall price? Money paid for that is in the float but will never have to be paid out?

  12. #12
    QuangX
    QuangX's Avatar SBR PRO
    Join Date: 02-03-11
    Posts: 2,755
    Betpoints: 6668

    Quote Originally Posted by BuckyOne View Post
    If you screw up your deposit and send it to the wrong address(miss it by one letter/digit - you are just screwed - money is in cyber space?

    But, isn't reflected in the overall price? Money paid for that is in the float but will never have to be paid out?
    Cant they recover it? I heard you can recover it. but if it goes into someone else account. you are screwed. lol

  13. #13
    ThaWoj
    hope i dont wake up tomorrow
    ThaWoj's Avatar SBR PRO
    Join Date: 03-09-10
    Posts: 6,260
    Betpoints: 3427

    Less than 1% chance it goes to someone else. 99%+ the transaction does not go thru and you still have your funds

  14. #14
    BuckyOne
    BuckyOne's Avatar SBR PRO
    Join Date: 01-02-15
    Posts: 2,727
    Betpoints: 19273

    Even a 1% chance of losing it with no recovery is a risk - a factor - A 1% chance I lose 10 k on a bank transfer is not acceptable! So, it is back to risk reward. Screen shots - snippet tool to document every key stroke and maybe you can recover something that is lost???

    I don't know - I don't trust it for anything but small amounts?

  15. #15
    Optional
    Optional's Avatar Moderator
    Join Date: 06-10-10
    Posts: 57,796
    Betpoints: 9194

    Money does not get sent to the wrong address even 1% of the time.

    The chances of someone changing any of the characters in the string and it turning into another valid address is trillions to one... or higher.

    The first part of the address code is the actual address and the last part is a checksum that must calculate to be equal to the address code.

    Just cant happen.

  16. #16
    QuangX
    QuangX's Avatar SBR PRO
    Join Date: 02-03-11
    Posts: 2,755
    Betpoints: 6668

    Quote Originally Posted by Optional View Post
    Money does not get sent to the wrong address even 1% of the time.

    The chances of someone changing any of the characters in the string and it turning into another valid address is trillions to one... or higher.

    The first part of the address code is the actual address and the last part is a checksum that must calculate to be equal to the address code.

    Just cant happen.
    Nice clarification Op.

  17. #17
    Ghenghis Kahn
    Best Baller on SBR
    Ghenghis Kahn's Avatar SBR PRO
    Join Date: 01-02-12
    Posts: 19,735
    Betpoints: 2261

    yes usually if you put in the wrong address, the transaction won't go through and it'll tell you to reenter the correct address.

    hacked exchanges on the other hand, they're fukked. bitfinex is done.

  18. #18
    raiders72001
    raiders72001's Avatar SBR PRO
    Join Date: 08-10-05
    Posts: 10,488
    Betpoints: 15350

    Quote Originally Posted by QuangX View Post
    Are they gone forever? people are SOL? shit out of luck?
    Some exchanges have insurance. Circle is insured by Marsh.

Top