BlacktopTravelr wrote: ↑Fri Apr 23, 2021 3:28 pm
I'll tell you what scares me the most about this cryto/online money is how do I get my money or prove that it is mine when the internet or my computer hard drive crashes and it will most likely crash when I need it the most. I knew a guy that had over 10,000 bitcoins and his laptop hard drive crashed and there was no way to get the information he had on it. He took it to an expert to see what he could do and the expert said all he could find out was the crash was most likely caused by a virus that wiped the hd data clean three times leaving nothing on the hd. That sounds like something Hillary did to her 30,000 emails.
Not saying your buddy is lying...but that's not the way crypto works, for the most part.
I'm on Coinbase.com. I have a portfolio with some of my cryptocurrencies in there. I also put some on my hard wallet. Coinbase is currently the most secure website for cryptocurrency. They're also a little pricey for transactions. It's not that bad but I believe 7% is what I paid.
Basically, when you purchase crypto, depending on the amount, you will receive a "code" that no one else can hack, they can't steal it and without specific passwords and passcodes they cannot get to it! That "code" determines the amount. No one else can see your code(s). Even when you transfer your crypto, say, to buy something you get an address to send it to wherever you're going to send it. Even though the receiving party has that address (and that address is never used again, for you or anyone else) when you send your crypto it goes to another part of the blockchain before being sent to that address. It's almost as if there's a "cloud" middleman that no one can see. (I know, very confusing right? I can't explain it as well as others.)
Has crypto been hacked? Nope! Has the websites that hold your crypto been hacked? Yes. (If this makes any sense.)
Everything I've read and watched says that the worst way to store cryptocurrency is on your computer or your cell phone. (like a computer "wallet"). Also, there's a bunch of websites that are not as secure as Coinbase. And then you have the websites that are, basically, scamming "brokers" that have high fees and are very unsecure. (Do your research!)
The Trezor 1 hard wallet I have requires access to the Trezor website, then a code to turn on the wallet. (It's a number password that YOU create. And every time you plug in your Trezor to your computer the number pad will display...and all of the single digits are in a different order, and it changes every time you turn on your hard wallet. Also, should I ever lose my hard wallet (it's about the size of a key fob) then, so long as I have the 24-word code, I can get all of my crypto back safely.
Hypothetically, if everyone went to crypto...the banks would crash! I mean become non-existent. I know that's not going to happen but I really do believe this will be the new currency most will use. It's change, and something like fiat currency that's been around for centuries is hard to let go of. But the more you understand crypto, the more it makes some much more sense to use. Everything is so easy, there's no middleman, it's secure if you use the correct tools and the money we would no longer pay in "user fees", etc. would add up.
Think of it this way. For example, when you buy a car there's surcharges, license fees, dealers fees, etc. Imagine buying a car with crypto and all you have to pay is the few dollars for the website fees.
And again, as far as security well...how many times has your credit card been hacked? How many times has someone stolen your money (or the banks)? So far, crypto has a lot better track record of keeping secure than fiat currency has.
There will be a time where you will no longer be able to use, "But...I didn't know!", as an excuse. And if you're exiled from society, well, you were warned.
And I do own $5 worth of Bitcoin for joining Coinbase.com (or...0.00009079% of a full Botcoin! 
)
(putt putt putt)
I want to say it as a litecoin, but I can't be 100% sure. Hell, I can't even remember when I bought it and for how much? 
All I remember is I had a wallet of some kind I kept the coin data in. But the fact I remember a coin that started with the letter E makes me think I could be wrong. 
This is why the central banks hate crypto...they cannot control it! But the banks control the stock market, don't think otherwise. They always have. Look at what the banks did when the Game Stop stock cut the hedge funds. The central bank shut it sown. Why? Because "their people" were getting their asses handed to them by the layman. Crypto works the same way.
