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BigBaldBeardGuy said:
Get a different bank?

Use a debit card?

Coinbase is easy as an exchange. Then keep in a separate wallet like Gemini for purchases.
Click to expand...
Or use an actual wallet instead of a different exchange. Exchanges aren't wallets, they can look like and function like one, but they are VERY different things, in several very important ways.

For example, exchanges that offer services to US customers are legally obligated to record and maintain records of the first off-exchange transaction.

Meaning if you send funds from coinbase, Gemini, kraken, etc to a wallet they know who you are and what address you sent those tokens to. So if something comes up fishy with that receive address later you are linked to that transaction as firmly as if you'd used your credit card. Moreso even, because credit cards can be stolen.

Use an actual wallet to hodl and spend your cryptocurrency. Never store on or spend from an exchange
 
laqpoqir said:
Or use an actual wallet instead of a different exchange. Exchanges aren't wallets, they can look like and function like one, but they are VERY different things, in several very important ways.

For example, exchanges that offer services to US customers are legally obligated to record and maintain records of the first off-exchange transaction.

Meaning if you send funds from coinbase, Gemini, kraken, etc to a wallet they know who you are and what address you sent those tokens to. So if something comes up fishy with that receive address later you are linked to that transaction as firmly as if you'd used your credit card. Moreso even, because credit cards can be stolen.

Use an actual wallet to hodl and spend your cryptocurrency. Never store on or spend from an exchange
Click to expand...
Trying to wrap my head around this cryptocurrency ish... Do you have any wallet suggestions? Im assuming they can by linked to an exchange? I dont understand this wallet address. Buying coin. Sending it to your wallet. Sending it to another wallet then sending to the vendor? Headache
 
Kstains405 said:
Trying to wrap my head around this cryptocurrency ish... Do you have any wallet suggestions? Im assuming they can by linked to an exchange? I dont understand this wallet address. Buying coin. Sending it to your wallet. Sending it to another wallet then sending to the vendor? Headache
Click to expand...
Think of it like this:

Exchanges are banks (they literally are for legal purposes...). So any bitcoin stored on coinbase is equivalent to dollars kept in your bank. If you wrote a check from your bank account to someone else who deposited it into their bank account you wouldn't be the least bit surprised to learn that transaction was easily traceable. It's functionally identical with bitcoin when you're sending directly from an exchange.

Bitcoin held in a wallet is like cash held in.... A wallet. Hence the name. Bitcoin sent from your wallet to another wallet is comparable to giving a handful of bills to the guy standing on the corner before he gives you a gumjob. Although it's worth noting that bitcoin in particular is much more traceable than cash, even though when used in this matter it's still very difficult to do.

So taking bitcoin from an exchange and putting it into your wallet is roughly akin to drawing cash from an ATM and then spending those bills wherever you like.

That's an extremely simplified analogy and explanation but you get the idea.

I won't recommend a wallet for the same reason you wouldn't (or shouldn't) recommend a source. Tons of wallets are scams. Probably most are actually if you count the shady Chinese shit on the Google play store. So do some research and figure it out on your own. Don't trust me or anyone else giving you a specific recommendation.
 
Kstains405 said:
Trying to wrap my head around this cryptocurrency ish... Do you have any wallet suggestions? Im assuming they can by linked to an exchange? I dont understand this wallet address. Buying coin. Sending it to your wallet. Sending it to another wallet then sending to the vendor? Headache
Click to expand...
Electrum, it’s an offline wallet. Look up videos on YouTube if you don’t understand how to use it, but it’s pretty simple. It’s not an exchange, it’s purely a wallet that can be put on a flash drive and locked in a safe. The last part isn’t necessary though because you can just keep the wallet on your desktop with the electrum icon. The flash drive is just another safety measure.
 
Btc wallet is not like cash. Cash doesn't leave a digital trail. BTC is a public ledger and there is nothing anonymous about it.
 
combover said:
Btc wallet is not like cash. Cash doesn't leave a digital trail. BTC is a public ledger and there is nothing anonymous about it.
Click to expand...

What do you think is more important, using an easily understandable analogy that is close enough that a normie can comprehend and then use it, or being autistically nitpicky and correct so that only nerds can follow?


Lots of smart people clearly don't even know that an exchange isn't a wallet, much less comprehend the intricacies of this very complex system. Keeping the explanation simple enough that anyone can understand is far more useful. This is a steroid forum, not a privacy or cryptography one. Know your audience and don't be a pedantic asshole.


And if you weren't so dead set on being a pedantic asshole you'd have noticed the part where I specifically addressed your complaint with the caveat that bitcoin is far more traceable than cash.

And since we're being pedantic now, bitcoin absolutely can be used anonymously, though it's somewhat difficult and easy to fuck up. It cannot be used privately because it's a public ledger. Like most people you don't seem to understand the distinction between those two concepts.

It's entirely possible to be private but not anonymous, like closing the blinds in a hotel room. Anyone can find out who is in that room just by watching who comes and goes, but what happens behind the closed door is an unknown because that's private. Contrasted against putting on a mask and robbing a bank. Everyone can see what the robber is doing but no one knows who he is because he's made himself anonymous.

Privacy and anonymity are not the same thing. But I'm sure you're going to deliberately miss the point and say something about the bank robber leaving DNA or hidden cameras in the hotel room..
 
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laqpoqir said:
What do you think is more important, using an easily understandable analogy that is close enough that a normie can comprehend and then use it, or being autistically nitpicky and correct so that only nerds can follow?


Lots of smart people clearly don't even know that an exchange isn't a wallet, much less comprehend the intricacies of this very complex system. Keeping the explanation simple enough that anyone can understand is far more useful. This is a steroid forum, not a privacy or cryptography one. Know your audience and don't be a pedantic asshole.


And if you weren't so dead set on being a pedantic asshole you'd have noticed the part where I specifically addressed your complaint with the caveat that bitcoin is far more traceable than cash.

And since we're being pedantic now, bitcoin absolutely can be used anonymously, though it's somewhat difficult and easy to fuck up. It cannot be used privately because it's a public ledger. Like most people you don't seem to understand the distinction between those two concepts.

It's entirely possible to be private but not anonymous, like closing the blinds in a hotel room. Anyone can find out who is in that room just by watching who comes and goes, but what happens behind the closed door is an unknown because that's private. Contrasted against putting on a mask and robbing a bank. Everyone can see what the robber is doing but no one knows who he is because he's made himself anonymous.

Privacy and anonymity are not the same thing. But I'm sure you're going to deliberately miss the point and say something about the bank robber leaving DNA or hidden cameras in the hotel room..
Click to expand...
Pedantic....I had to Google that !!
 
laqpoqir said:
What do you think is more important, using an easily understandable analogy that is close enough that a normie can comprehend and then use it, or being autistically nitpicky and correct so that only nerds can follow?


Lots of smart people clearly don't even know that an exchange isn't a wallet, much less comprehend the intricacies of this very complex system. Keeping the explanation simple enough that anyone can understand is far more useful. This is a steroid forum, not a privacy or cryptography one. Know your audience and don't be a pedantic asshole.


And if you weren't so dead set on being a pedantic asshole you'd have noticed the part where I specifically addressed your complaint with the caveat that bitcoin is far more traceable than cash.

And since we're being pedantic now, bitcoin absolutely can be used anonymously, though it's somewhat difficult and easy to fuck up. It cannot be used privately because it's a public ledger. Like most people you don't seem to understand the distinction between those two concepts.

It's entirely possible to be private but not anonymous, like closing the blinds in a hotel room. Anyone can find out who is in that room just by watching who comes and goes, but what happens behind the closed door is an unknown because that's private. Contrasted against putting on a mask and robbing a bank. Everyone can see what the robber is doing but no one knows who he is because he's made himself anonymous.

Privacy and anonymity are not the same thing. But I'm sure you're going to deliberately miss the point and say something about the bank robber leaving DNA or hidden cameras in the hotel room..
Click to expand...
Wtf are you going on about with your walls of text?
 
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