BTC-e Bitcoin exchange closure is an avoidable risk reminder, Monero, Litecoin

BTC-e Bitcoin exchange closure is an avoidable risk reminder, Monero, Litecoin


hello everyone this is Adam Meister the
bitcoinmeister the disrupt meister
welcome to today in bitcoin today is
july the 26 2017 buy-and-hold strong
hand control your private keys seriously
thanks for the person who used the coin
based referral link that is listed below
in the notes section hey people are
still buying a big coin up to the last
you know people aren’t scared off by
these dick flood dates and everything
that’s good to know
and speaking of buying things and using
links below joseph over at crypto HW
wallet calm wants to remind everyone
will get treads ors next friday so we
are ready to ship
all right so try swords are gonna be
back in stock over there check out the
notes section below also in a notes
section link to yesterday’s show and of
course this friday which is coming up
this week in bitcoin we’re gonna have
some interesting guests it probably will
be around come on about 3:30 p.m.
Eastern Time don’t quote me on that yet
but be prepared a guest is going to be
from India one of our guest a new guy
that you haven’t heard of before so this
should be interesting was people wonder
about India and Bitcoin and all that
stuff so yeah cryptography D you can get
shirts like this listed below with the
Meister discount code all right so let’s
jump right into the big news of the day
Greece arrests Russians suspected of
running form a billion-dollar Bitcoin
laundering ring and this is the guy who
might have been in charge of the Bitcoin
exchange BTC – II which many of you have
heard me talk about before because I’ve
said that it’s anonymous it’s in Eastern
Europe it could shut down at any time
well guess what and I mentioned it
yesterday a lot in the video and it
hasn’t come back up again it is
disappeared and people are saying that
the owner again I there’s a Reuters
article about that he’s been arrested if
that’s really the owner and that he
might have been involved in the mountain
GOx hack back in the day that’s all
cryptocurrency gossip okay the bottom
line is you can’t keep your Bitcoin or
litecoin or whatever add an exchange
because you don’t get a warning before
it shuts down it just shuts down and
they run away with your money and some
of you are saying oh well it says
they’re gonna come back online alright
sure believe that if you want to believe
that your prep I’m gonna get my coins
back for BTC – II believe that if you
want to believe that okay what you
should done was you should have bought a
traceur back in the day and stored your
Bitcoin over there or a ledger Nano or a
key key or whatever the bottom line is
that this is a lesson that everyone’s
got to pay attention to and that you
were all warned about this lesson and
it’s gonna keep happening it’s gonna
happen again again it happened with
BitFenix last year and there was a the
price went down when this happened the
bright the people the price has gone
down a bit because of this partially
because of this probably but it’s not as
big of a deal
as the big Phenix one in terms of
affecting the price so that’s that’s
cool I mean the the the Bitcoin
ecosystem has progressed where we don’t
we’re not as fixated on these closures
anymore but these closures are gonna
keep on happening you cannot rely on
third parties relying on third parties
is the biggest mistake a person can make
in cryptocurrency and count that like
button if you agree with that statement
because whether whether you get into
well I’m gonna exchange my Bitcoin for
some other coin or I want to try to
invest in some mining thing or I’m
gonna store it at an exchange and try to
be a trader even though 90% of traders
lose money
that’s all third party stuff when you
just buy and hold put it on your trees
or
control your private key that’s it no
third parties involved at all and it
sounds boring
I know but long-term thinking people
short-term thinking gets you into the
mindset where oh I’m gonna store it on
this exchange exchange it might get
hacked one day it’s not gonna get hacked
when I’m on it and you won’t get it
maybe oh just close and then come back
again because of something that happened
in Eastern Europe and everything will be
fine again so for some of you this is
all very repetitive when saying but for
a lot of people you need to be reminded
and it still new to you there are a lot
of new people in this space and we don’t
want new people ending up like this
because it just it creates an atmosphere
that isn’t good for the community where
the mainstream media picks up on false
spilt false narratives where they’re
gonna say oh Bitcoin got hacked not BTC
– II got hacked so the less people who
are angry about this the better okay so
uh yes it is an avoidable the reminder
is that this is all very avoidable
it’s all very avoidable so hey there’s
an article Fortune magazine or
fortune.com
um I guess it’s Fortune magazine article
about hedge funds and cryptocurrency and
the one little tip and I link to it
below and the one little tidbit that I
just was really interesting is that
there’s one of these hedge funds owns
one percent of all the Monaro out there
of all the of all the cryptocurrencies
to own one percent of and who it is a
hedge fund owns one percent of all the
Monaro
out there that is really interesting
that’s um I mean imagine more and more
hedge funds buying the Bitcoin
in other crypto current we’re at the
beginning of something here and that
they they were willing to risk on this
caught anonymous coin that is associated
with the dark market and everything very
interesting really is something that’s
provoking so pound that like button if
you like Manero let’s see a people have
been two people have emailed me
completely separate people about
litecoin and the M address
apparently oh I saw something palpable
the chat there the bad virus looking
forward to seeing fluffy pony on the
Kaiser report tomorrow I’m convinced
that Manero is truly the most disruptive
currency in the space well thank you for
the five British pounds there I think
that’s what you sent me there that the
bad virus and yeah Monaro is very
interesting I don’t like Kaiser
I think he’s wack but uh you know he’s
got a big show that’s cool that he’s
giving a fluffy pony some exposure and
again Manero fans I’d love for a fluffy
pony to come on the show here we go it’s
like we just don’t give a – people
opinions to speak their mind Manero can
speak their mind on this uh this channel
also I just have not been able to
arrange that with fluffy pony but hey
man he’s on the he’s a lot more people
gonna watch them while Max Keiser then
on Adam Meister show so today each is a
very good for very good for Manero and
again maybe don’t ask him about one
percent of his uh but you know I bet
fluffy pony isn’t a big fan of hedge
funds I’m you know I don’t know him
personally but from some of the things
he’s put out there we didn’t think he’s
a big fan of hedge funds I’m wonder what
he thinks about one percent of his uh
what he created being owned by a hedge
fund maybe he doesn’t mind because you
know anyone can buy it so going back to
litecoin a second person in contacting
me of two people have contacted me about
this litecoin now has an emma dress and
then there’s the l a– dress and some
people are getting very confused and
there’s a three address and they all
might not work well together and it
the treasure only stores the EM
addressed so my advice to everyone is is
pay attention before you jump into
litecoin learn about Emma dresses out of
the dresses and three addresses more so
than I have and if you’re gonna change
you know send between all three and you
know know what they are before before
you start sending your light coin from
your tresor or to your tresor or even
storing like horn on your treads or try
to understand what all three of those
things are alright because two people
have called me very contact me and
they’re not very happy about how there’s
an Emma dress now they’ve run into some
problems and I’m not flooding litecoin
here this is an educational type of
finger I love uh I love Charlie he’s got
to come back on the show soon hopefully
all right going back to the alt coins
that have been coming out that are using
the Bitcoin name well first of all
remember in the next few weeks the best
thing you can do with your Bitcoin is do
nothing
make sure your coins are not only to
exchange that’s all it’s really that
easy
control your private key so uh there are
such things as replay attacks and
apparently some of these fake bitcoins
that are coming out are going to protect
you against a replay attack but because
of that now I’m not an expert on that
that if further differentiates
themselves from Bitcoin the path they’ve
taken and further puts themselves in
this odd corn category which they no
doubt are they’re funny coins so that’s
interesting but again I don’t I don’t
want to trust some that they’re
protecting you from a replay attack
there’s some people that are telling me
that you’re gonna get some private key
exposure if you try to buy one of these
fun coins that are out there so or try
to involve yourself at all you know try
to split your Bitcoin into this FUD coin
so a lot of people are saying oh I’m
gonna get a free FUD coin from all this
nonsense well it might not be that
simple people I mean when I start
hearing about the exposure
your private key to these people who are
behind these flood coins and that
doesn’t make me feel very secure you
know this has been about security today
this video hey and I’m not an expert in
technical things like this about
exposing your private key if this really
is going to happen when you get involved
with this flood point but if it is dude
just enough because I have no
interesting getting about in this flood
so you know but if it is avoid avoid
avoid and anyway avoid avoid avoid it
anyway it’s it’s a flood coin
it’s an altcoin and you know you’re
trying to make five dollars and then
losing your big coin because of it
you’ll feel very bad in the end you’ll
feel how like how those btc-e people are
feeling today who kept their coins on
BTC dashi all right
uh and I want to remind everyone that
you know just because something uses the
Bitcoin name doesn’t mean this Bitcoin
and they’re already examples of that out
there there is an altcoin called Bitcoin
dark there is an all coin called Bitcoin
plus they’re not Bitcoin everyone knows
it they’re not and it’s funny sometimes
they surge when you have these weird
news stories where people get confused
and think they might be some real form
alternate form of Bitcoin I don’t know
they’re not so Andreas Antonopoulos has
a new video out that it talks about how
do you how you secure your Bitcoin and
he’s obviously he’s putting it out there
because of the current situation in
Bitcoin that people need to secure their
Bitcoin now and he’s and he reminds you
if you have your Bitcoin at coinbase
that’s you don’t own your pickling
really they own your Bitcoin alright
let’s see again I think people are doing
a better job not not giving a platform
to the people behind me be fun coins and
you know I just glanced over to the chat
and I see people are saying my name is
is a reminder I can’t read the chat when
I am doing this video
if people have questions you can email
me the questions of course of course
Adam and treszura help calm if it’s a
simple question I’ll give you a simple
answer if it’s it you know if it’s a
complex question we’re gonna have to
there’s going to be a consultancy fee
involved obviously if you want a big
long answer and again Adam Petra’s or
help calm if you want to schedule your
cryptocurrency consultation or if you
need to schedule your treasurer setup I
can help but I again people sing things
over in the chat I mean I see been
shindig towel is there and he always
deserves us a shout out and you should
pound that like button because mention
mean towels they are spread in the MiG
towel philosophy but I can’t read what
you guys are writing when I’m you know
in the middle of the story in the middle
of a video no offense to anyone over
there
so the sec again they are putting the
smackdown on the eye cos i don’t know
the specifics I’ve heard that maybe
Americans aren’t going to be able to buy
I cos I have not had time to read the
article is partially link to below but
all you really need to do know is that
they taken an interest thing it’s not
gonna be easier now for these I cos this
isn’t the best news for aetherium I
would assume but maybe some people will
like it and say oh well I SEOs are about
to be regulated heavily by the SEC so
that means the theorem is great I don’t
know make your own decisions on your
speculative altcoins like that so I
believe that’s it for today I could say
pound out like button 15 more times and
yeah remember that just because
something has the Bitcoin name doesn’t
mean it’s Bitcoin it’s nothing but an
altcoin baby oh my god that’s a
flashback isn’t it anyone know that old
hip hop song from back in the 90s I’m
not gonna name it because I might have
butchered it so badly just now that it’s
completely unrecognizable i’m adam
meister the bitcoinmeister the disrupt
meister and i’m gonna subscribe to this
channel like this video share this video
and no I don’t really like hip hop
I’d like classic rock I’ll leave you
with that note found that like button
bye bye everyone
you

13 comments

  1. Adam and I both hate Bitcoin Cash so much we both promise to burn our Bitcoin Cash. We will send it to a keyless address.

    Thumbs up and join the burn movement. Pound that like button. Burn baby. Buuuuurrrrnnnn.

  2. So BCC is a dream come true for KING OF THE TROLLS, right? If it's such a great idea, miners and the rest of the community will embrace it resulting in a higher BCC price Vs Bitcoin, right? Am I missing something?

  3. I agree with most of what you say but this is a much bigger deal than bitfinex not becuase of the price but because of freedom, bitfinex got hacked, btc-e was attacked by the USA gobernment when they are believed to be in Bulgaria, he was arrested in Greece and he is Russian, that is an example of the USA goberment attacking Bitcoin freedom outside of its legal boundaries, I am against colored coins and for freedom for that reason it makes no sense to accuse of btc-e of having stolen coins even if true, otherwise could you image the nightmare if each time we got a coin we had to get gobernment approval to white list the coin that is not what Bitcoin stands for. I agree with you that coins should be kept on a hardware wallet, however an exchange it is to exchange and while the coins are at the exchange there is always a risk. If someone steals your wallet and deposit those stolen dollars in a bank the bank would not be liable for the stolen dollars, an exchange works the same way, however the goberments and media have a double standards, lets not fall on that trap. This is a very good reason why Gobernments can not be trusted, and decentralizacion is of extreme importance, that is why I am against large blocks and believe in what the core developers stand for. The atack on BTC-e was because it was an anonymous exchange and its customers had privacy, look at what happened to coinbase users, they got a request from the IRS treating every single user as a criminal. Decentralized exchanges are needed in this financial revolution. To many Bitcoin is just about money and a quick profit, but for many of the early adopters is also revolution about financial freedom. What happened to BTC-e is sad because it was financial terrorism by washington, its a crack down on financial freedom, this attack will continue against anonymous exchanges, anonymous email, anonymous servers, anonymous vpn, because its about control. The goberment is not going to return the coins to its users, the lesson to learn for everyone is not only to use a hardware wallet, but do not trust gobernments that do not respect your freedom. Use a trezor or ledger nano s wisely, use a passphrase protected 24 word seed, and a good pin 8 digits or better. Also when voting do not worry about left/right worry about fredom/opression which is much more important. What does make sence is to go after people that comit crimes, like for example going after the mtgox crackers, and return the goods to its owners, but they are not doing that, they are going after the exchange because it is anonymous.

  4. Trezor stores all the Litecoin addresses, use beta wallet. M-addresses are located under "Legacy Account" on the left hand side. Smash that like button.

  5. Why do all the moron holders say DONT KEEP ON EXCHANGE, u do realize u make way more trading then holding. You morons should say DONT KEEP WHAT U CANT LOSE ON A EXCHANGE……..holding btc wont gain u coin if u don't trade u don't gain……..

  6. The site wasn't hacked or went bankrupt like the other exchanges you idiots but just legal issues in how the site is run. We should be able to get out money back. I don't know why people assume they ran off with money when it was a legal issue.

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