Own Crypto?

Own any Crypto?

You’re a target.

Period. 

Are you ok being a target?

The tension doesn’t get you down?

You take it in your stride?

Fine. 

You’re probably good for the game. 

I am not. 

I don’t like the tension. 

I don’t want any crypto on any of my devices, alone because of the tension element. 

I don’t wish to be a target. 

I don’t like the History, with exchanges going bust et al, cryptojackings, and what have you. 

I don’t like the bubble-chart. 

Governments are pushing against it. 

Top banks dissuade. They’re not willing to hold it in their cyber-lockers, for then, they become targets. 

Then, just too many cousins. Which cousins are the black sheep? Which one will go all the way? Who knows?

Let’s talk volatility now. 

Bought some crypto? Down 20% since? Now what?

I don’t want to be faced with these questions on a daily basis. 

Terrorist push. They move it with crypto. 

I don’t want to be moving it like terrorists do. 

Russian servers? Bulgarian IP? 

Already getting the jitters. 

I don’t comprehend blockchain.

Multiple people saying something is something doesn’t make that something something. 

Is someone making a very big fool of a lot of people, and getting away with it too?

Too many “I don’ts”.

Too many red flags.

Next, you’re telling me that I’m a target too. 

Fine. 

However, for whatever I’m a target, for that thing the criminal will need to accost me physically, on the road, or in my house. 

Are you getting it?

The robber will have to rob my house physically. 

Not so the case with you, crypto-owner. 

The hacker can hack from any corner of the globe. 

Criminals don’t wish to be cracking safes when they can steal from computers thousands of miles away. 

So,…

…careful. 

Advertisements

The Collapse of Mt Gox and its Meaning for You

February 2014.

Mt Gox collapses.

It’s not a mountain.

Mountains don’t collapse.

The largest Bitcoin exchange in the world – gone.

What happened?

Hazy area.

If one reads through the company’s press releases, it seems they themselves are not sure. Or, they’re trying to cover up that they got hacked, big-time.

Company’s claiming a black-swan event. Software goes into a crazy loop. Transaction shows as failed. However, system releases Bitcoin. Do this over and over again. You’re down 750k Bitcoin. Half a billion dollars. Hmmmmmmmmmm. Not buying it.

It’s probably not an inside job. Trail would’ve been too hot.

They’ve actually and probably gotten hacked. Possibly in the earlier days. Perhaps they tried to cover it up for the longest time, till it was no longer possible. There came a time then, it would seem, to throw in the towel and declare bankruptcy, coupled with the release of an unbelievable explanation.

Do the math. Conjecture.

We are down to conjecture, after an abominable event like this, where retail investors along with handlers, dealers and the works get fried.

For heaven’s sake.

Makes you rethink Bitcoin majorly.

Diversification is a safe thing. However, not at the cost of converting your computer into a big red flag.

There are two kinds of computers in the world. Those with Bitcoin or its cousins, and those without.

Currently, those with are targets.

There’s no better system of storing Bitcoin.

Banks aren’t taking it up systematically.

Dollar lobby is too strong.

It’s not letting Bitcoin settle.

Who was behind the possible hack?

You tell me.

Why would anyone sacrifice one’s sleep?

No tension, please.

We don’t wish to lose sleep over the fact that our computer might get hacked in the night. Also, will the cousin’s ever sort themselves out?

If criminals could hack Mt Gox, what are the chances of one’s desktop surviving?

Yeah, where does that leave you?

Till Bitcoin gets accepted more systematically, and till mainstream banks start storing it for you in their cyber-lockers, I’m afraid this leaves you off the Bitcoin demand-list.

Yeah, safety first.