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Re: Predatory Sparrow

By: monkeytrots in GRITZ | Recommend this post (0)
Thu, 19 Jun 25 2:46 AM | 13 view(s)
Boardmark this board | Grits Breakfast of Champeens!

Msg. 09916 of 09973
(This msg. is a reply to 09913 by Fiz)
Jump:

You really do miss the point, Fiz. Exchanges establish the value of every single crypto - including bitcoin.

Without those 'exchanges' - no value.

Yes, there are some ways to 'use' cryptos (that exchanges have established some of value for) without going through an 'official exchange' - people that will accept wallet transfers, etc. BUT - and this is a big one - ALL SECURITY FALLS ON THE TWO PARTIES USING THAT METHOD.

It is far from 'foolproof' - and can be far more dangerous than an exchange.

If you are 100 percent sure that YOUR device/wallet can not be hacked, and the person you are exchanging with is similarly secure, then, by all means, have at it.

If you don't understand the risks above, stay away from crypto transactions.

Even debit/credit cards with chips have 'hacking' security issues, at many levels, and one should be careful about the merchants that one uses for such transactions.

Finally, brethren, whatsoever things are true, whatsoever things are honest, whatsoever things are just, whatsoever things are pure, whatsoever things are lovely, whatsoever things are of good ...

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Re: Predatory Sparrow
By: Fiz in GRITZ
Thu, 19 Jun 25 2:33 AM

Msg. 09913 of 09973

Monkeytrots: "Well, without an 'exchange', crypto is useless."

No, it's not. It's fundamentally the same risk as if you bought or sold anything else for cash.

https://cointelegraph.com/news/how-to-buy-or-sell-bitcoin-without-using-a-centralized-crypto-exchange

Just so you don't get hung up on what is, and isn't an "exchange", read to the bottom: Offline PtoP exchanges.

Now, admittedly, I wouldn't want to be doing this with very large transactions -- but I wouldn't want to be doing super large cash transactions, either.

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