一個價值US$250以上嘅Bitcoin對換Monero教訓 🤕 A paranoid lesson costs US$250 on BTC to Monero Conversion (EN/CN)
蝕錢事小，教訓是大，我希望分享呢個慘烈嘅教訓比大家。This is a costly lesson worth everyone pays attention to. (English in the Middle)
Image Source
我想同大家分享一下我對換加密幣奶野嘅慘烈故事，由Bitcoin對換Monero損失左現價價值US$250嘅Bitcoin (0.045 BTC)，希望各位唔好同我一樣咁樣奶野。😔
故事嘅開始
話說我一向都會用VPN去外國一個朋友屋企內嘅VPN Server去做某啲野，有時會冇disconnect 就做左啲Bitcoin交易。有一日我同我朋友傾開Bitcoin佢就好緊張😨咁問我有冇連住佢個VPN Server時做過Transactions。咁答案當然係有啦，佢就話唔好再咁做喇，因為響外國會有機會比稅局當左啲Bitcoin係佢嘅，唔單止驚比人話佢暪稅，更加怕佢被當成先前做過嘅一啲重要申報呃政府，呢個係罪犯天條。💀
其實據我所知，應該冇關係嘅，因為我冇用Bitcoin去買啲野送去佢屋企，咁照計係查唔到。但我諗左幾日，唔想佢有任何不快嘅遭遇，所以我研究左一陣後，就做左一個舉動：將Bitcoin轉換做Monero，再經一兩個Monero Wallet之間嘅轉換，然後換番做Bitcoin。 我希望完成之後我啲Bitcoin可以唔再受注視。惡夢就由此開始。😿
唔係冇人知你有Bitcoin㗎咩？
當我睇Bitcoin.org個網站學習嘅時候，佢係話我聽冇人知我有Bitcoin。但係研究耐左，我就發現有兩個問題：
- 一般On-Device嘅錢包交易嘅時候都要連接上服務商嘅接入點📡
- 有公司會不停咁研究Bitcoin嘅交易數據，並將得出嘅結果加埋商戶登記嘅用戶資料賣比政府💰
第1點嘅問題係我朋友個 IP Address理論上係會留響個接入點度。加上第2點，最少我嘅交易會當左係我朋友嘅交易(我經佢VPN Server)。幸運嘅係我冇買到野送去佢度，如果有嘅話就冇得救，實會比人追究佢之前冇申報資產。
我做左啲乜野？
由BTC Wallet send去ShapeShift，轉出去Monero Wallet，再由一個Monero Wallet送去第2個再送去第3個Monero Wallet。最終目的係要轉番做BTC。💱
點解要咁樣換
一般交易所都要查你家宅，所以其實啲Bitcoin你點換都有人知係你嘅。我研究後發現我唔可以用交易所。響佢身處嘅國家，冇人會無啦啦送一件投資工具(Bitcoin)比另一個人而唔收番回報💲。如果係送左啲Bitcoin去我名下嘅交易所戶口度，咁會變左資產轉移，要交資產增值稅。所以我揀左ShapeShift，佢唔會記底我係邊個，設定好送入送出乜加密幣，再送加密幣入去，佢就會送我想轉換嘅加密幣出番去你指定嘅錢包地址。總之唔送比人，又唔係吐現，咁就唔會引致要稅務匯報。
當我換左做Monero之後，由1個Monero送去另1個度係冇方法追查到原本個錢包係邊個嘅。所以我傳送3次就應該冇人追查得到，咁我朋友最多都係被當做冇增值嘅傳送，或當係操作錯誤而冇晒被誤認為係佢嘅Bitcoin。
失敗事件簿
不幸嘅事情實在太多，應該可以拆開幾篇去講解，但我都係打完出黎就忘記左佢就算。😣
首先第一個失敗事係我冇研究清楚Monero Wallet嘅特性。因為好多人都話唔好用網上Wallet，我冇去用到最方便嘅MyMonero。我怕佢一旦死左website，我就冇方法攞番黎轉換Bitcoin。其實唔係的，我以後介紹時會講。我走去Download左Monero Wallet 官方版，行Full Node嘅，即所有交易數據(Block)都會下載落黎，要幾十GB，而且Sync嗰時係要運算一下，響我部慢機度要等好耐。呢個Syncing係一波三折，有時係正常冇反應，有時係卡住左響度我都唔知要Restart先可以繼續Sync。我由Monero $100蚊升到上$150先至Sync完，原本諗住都即時轉番去Bitcoin，乜價都冇所謂。
第二係當時係手賤試梗新野，我用梗Exodus Wallet。搵左好耐都搵唔到傳送嘅手續費設定，先前睇左個YouTuber講有幾intelligent，應該唔差太遠掛，結果手續費佔左3%。😶
跟住我走去用ShapeShift，轉完之後計番美金，冇左10%。計一計同原本嘅價值已經冇左 12.7% 😭（未計今日Bitcoin已經升值左好多）。
當時諗一諗，如果再轉番去BTC，咪又蝕多啲？搏一搏Monero對BTC會升啲啲，可以幫補一下。當時係有呢個可能再升的📈，泡菜國當時炒起左Monero，真係唔出奇。
點知後來中國話要停ICO，再要停交易所，搞到全部加密幣都大跌📉。問題黎喇，Monero對Bitcoin跌得多過佢地用美金計嘅跌幅。我諗住蝕多10%止蝕算。記得當時已經諗好左改用Changelly去換番做BTC，中間嘅費用平過用ShapeShift好多好多。
響我準備對換嘅時候，我嗰部用黎行Monero Wallet嘅電腦突然hang左機。原來如果行行下突然間死機，Monero Wallet入面裝左Full Node嘅Database係會完全被破壞，要由頭重新Sync過晒啲Block先可以將Monero送出去。🤦🏻♂️
我部電腦嘅速度慢，Sync好左都已經係3日後嘅事，到左嗰時一切已經太遲，XMR/BTC已經再跌左33%😱。已經變成左要退守等佢升。
之後嘅故事，就唔好詳細講喇，因為到左今日，計番BTC，我已經蝕左55%⚠️，大約0.045 BTC咁上下，以今日$5700呢個價黎計，大約係US$250。Bitcoin再升，我就再蝕多啲。
學左啲乜野？
交左咁多學費，自然學到好多野可以同大家分享。要點如下：
- ❌唔好亂咁將啲Bitcoin換 altcoin。換親都係睇好走去搏升值先好換，唔好彩蝕左都心甘命抵
- ❌唔好亂用新嘅加密幣Wallet。有啲Wallet有人不停響YouTube度推薦，唔等如好用。好多都只係收左好高嘅廣告費，人肉讀番你聽☢️。只有真正多人用嘅Wallet先好去試用
- 有啲Wallet真係好用，就唔好用到悶走去亂試新野，要試都要用多餘嘅電腦同得幾美金嘅戶口去試㊙️
- ❌唔好用ShapeShift。ShapeShift好貴，先食你一邊價，再收手續費又唔話你聽係幾多，之後再食另一邊價。⛔️
- 用Changelly。佢會寫到明你送幾多入黎，收幾多手續費同到達另一個錢包會有幾多數目嘅加密幣。㊙️
- 要用可靠嘅硬件去對待加密幣。如果要行Full Node嘅錢包，最好就搵一部專用嘅電腦喇。㊙️
不幸之後嘅總結
經一事，蔡一智長一智，學左好多野。而家只有一路望佢返家鄉，一路努力啲寫Steemit Story去補充番當中嘅損失啦。
老實講而家已經算好好，我前幾日原本想對換番做BTC就算，唔想再賭落去。但最後都有好多ching勸我唔好咁做，所以今日先唔會犯多一項「最低位沽出」嘅經典罪行。🙇🏻
實際上學到嘅野都好多，例如前日嘅 錢包轉換技巧。我會一步一步寫出黎同大家分享。
English Version
Background
I usually connect to a VPN server in my friend’s home for some tasks that can only be done with the IP Address in his country. Sometimes, I will conduct Bitcoin transactions without disconnecting the VPN connection. One day, when I was talking with him about Bitcoin, he was shocked and asked whether or not I did conduct transactions with his VPN server. The reason behind is he worried his government would think the Bitcoin I have belongs to him, making him dishonest on not reporting his asset and filing tax accurately.
I think it is not an issue, because I did not use my Bitcoin to buy product or service with his address. After thinking for a week, I believed I had to make him relax not to worry too much on this issue. I had to take actions: Convert all my Bitcoin in that wallet to Monero and then mixes them a few times, then convert back to Bitcoin. I was hoping to leave no trace on my Bitcoin. The nightmare happens since then.
Isn’t Bitcoin Anonymous?
When I was studying Bitcoin in Bitcoin.org, they said holding Bitcoin is anonymous – yes, holding. As my knowledge developed, I see 2 issues:
- All the On-Device light wallet needs to connect to a service server to broadcast the transactions.
- There are companies that analysis the blockchain, and sell analyzed data that can match our identity to governments.
For point 1, I basically had my friend’s IP Address left in the service server. Together with point 2, my transactions were linked to my friend’s internet service. Luckily, I did not use his home address for Bitcoin purchases. If I did, he will have to report capital gain on the transactions.
What I did
I sent my Bitcoin from my wallet to ShapeShift, and asked ShapeShift to send the converted Monero to my Monero Wallet. Then, sent all the Monero to a 2nd and then 3rd Monero Wallet. My goal was to convert them back to Bitcoin. And this is the starting of my nightmare....😣
Why I need to do it this way
Most exchanges require users to submit their identity proof for using their services. When someone send their Bitcoin to my exchange account, it is a transfer of asset. In most western countries, this will be treated as a sell off of asset, and get capital gain/loss. If the Bitcoin I want to convert are believed to be the asset of my friend, he will need to file the transactions in his next tax report. So, I have to use some anonymous exchange that will not record who I am for this purpose. With ShapeShift, all they need is my Bitcoin input, and the altcoin address, in my case Monero, to make the conversion happens.
With Monero, transactions between Monero wallet is not traceable by design. Send it a few times with highest fee will make my Monero untraceable. From that point, I can convert back to Bitcoin.
A series of Epic Failures
My epic failures can be expanded to a week of stories. I will just use briefly talked about them below.
1st, I did not research enough (I did research) before using the Monero Wallet that runs full node. I have been told not to use web wallet, so I skipped the most useful wallet MyMonero. I don’t want my fund stuck there when their website goes down. (In fact, not an issue, I will explain it in next story.) The official Monero Wallet requires all the blocks that contain transaction records completed syncing before I can use all the features. Syncing takes up a lot of CPU resources, especially on my 8 years old desktop PC. When I finished syncing, the price of Monero had already went up from $100 to $150. I thought it was no big deal, as I would just convert them back to Bitcoin in an hour or two.
My 2nd failure was using Exodus Wallet – I was testing it. I don’t familiar with it enough for sending my Bitcoin. I was not able to find the fee settings – I thought it should be intelligent enough to get me a low fee as a YouTuber suggests, intelligent. At the end, the intelligence is on fastest processing that cost me 3% of my total transfer. Shit
Okay, forget about the 3% loss, just get it done with ShapeShift. 10% loss with ShapeShift. Their fee structure is vague. Till this stage, it was 12.7% loss in US dollar, not to mention today Bitcoin appreciates.😢
Dang, if I would convert back to Bitcoin with ShapeShift, it would get me loss again. Let’s gamble a bit on Monero, because Korean was pumping Monero. Appreciation against Bitcoin was possible.
The nightmare continues – China caused all cryptocurrency depreciates. The price of XMR against Bitcoin drop even further. I thought I should cut the loss when the XMR/BTC decrease by 10% on that round. With Changelly, the fee was still acceptable, a lot cheaper than ShapeShift.
Right before I wanted to complete the transactions with Changelly, my PC that run the Monero Wallet hanged – the database (block) corrupted and needed to resync from the beginning. No sending was allowed before it completes. As my PC was too slow, it completed after 3 days. It was 33% more loss not counting the previous 10%. It was too late to convert.
As of today, the accumulated loss counted in Bitcoin is 0.045, about 60% loss compare to day 1. The price of Bitcoin today is $5700, the loss in US dollar today is $250. When Bitcoin go up further, my loss in both XMR/BTC and XMR/USD will enlarge.😑
Lesson learnt
The cost of the lesson is too much to me. Let me share my thought.
- ❌ Do not convert your Bitcoin to altcoin unless you are ready to gamble. Converting for gamble is not bad, if there are losses like I have now, my gamble mode will not hurt me this much.
- ❌ Do not switch wallet without spending time for research. Some Youtubers recommend the wallet because they get paid to read out an advertisement to convince you it COULD BE good. Only use wallets that are popular enough and well tested.
- ❌ Do not switch wallet because you feel bored. If you really want to test them out, use a spare computer/phone and a new account that holds only a few bucks.
- ❌ Do not use ShapeShift. ShapeShift is expensive, they profit from margins, as well as vague processing fee. They do not clearly show you how much they charge you.
- ⭕️ Use Changelly instead. They clearly show you how much you will get when the conversion arrives your wallet, as well as the fee they charge you.
- If you need to run a full node wallet, use a reliable computer to do it.
Life after the Epic Failures
Okay, I’ve learnt my lesson. I am lucky enough a lot of good friends recently met stopped me from cutting loss a few days ago. If I did not listen to them, I might have sold my Monero in the quarterly low, leading to further loss. I love you guys~❤️
I will be patients to wait my Monero goes up, and spend more effort to write my Steemit stories. I wish everyone is good and will benefit from my story.
Copyright © RyoPlasmic 2017. All rights reserved.
Stories like this need to be told, otherwise many people will continue to come across the same issues. I have upvoted and resteemed the article so other people can also become more informed.
Thanks ^_^