Feeling vulnerable on my first time
I just moved a little Ethereum from @bittrex to exodus for 'safe' keeping. I have no idea how safe any of these things are. What happens if the company goes belly-up?
I have tried transferring small amounts of Eth three times from Poloniex to Bittrex with no success although the transaction has been completed. I have been able to bring Steem out of there though, back into Steemit.
I transferred a tiny amount first to make sure it went through to the Exodus desktop program and a minute or two later it showed up in the wallet. Then I transferred what I wanted to save and it showed up too. Score.
Does anyone else get nervous doing this? I mean, I am not shifting large amounts but I felt quite anxious. I think it is because I am so uncertain about all of these things and that even these small amounts are significant to me. In the past, I didn't have to worry about all of the transfer issues, it was all invisible behind the bank screen. Not that that is a great thing, but, this feels quite weird for me.
I am still uncertain how all of this works but I am determined to learn. I mean, what choice do I have? I sit for many hours each day developing content for my Steemit profile and it is slowly, slowly, creeping along, I better learn how to make it useful too.
In my last post, I mentioned asking my brother to help my wife sort through this if for some reason I was incapacitated or gone. There must be a better way through the blockchain to ensure that spouses (or those that are indicated) can get access to the various wallets etc.
In the case of my death, please send **** my hex keys...
I think that in the future, all data is going to be handled in such a way and hopefully, this will cut out many of the rent seeking middlemen that exist in the walking world now as managers of our financial affairs.
Until such a time that all of this is easy, I guess I will have to keep learning and getting anxious every time I transfer or do anything crypto for that matter.
I am inching a long though, kind of like this tiny caterpillar I photographed on a daisy yesterday. And I hear that every inch counts.
So for now, I will rest easy that my little bits of money that isn't really money is split between a few different online places I do not know will be there in the morning when I awake.
Sweet dreams...
Taraz
[ a Steemit original ]
Well, my dear friend @tarazkp. I'm glad you found of some usefulness the Exodus Wallet for 'safe' keeping your hard earned altcoins.
Yeah! exodus is an actual cold wallet which is safer to hold your crypto-wealth in there. Way more safer than hold your molah in any other website or crypto trading platforms online. So, if any company goes belly-up, this will always will happen more often and faster on those places outside your own PC or Smartphone where you actually haven't the absolute control of the keyphrases, passwords & stuff. ;)
As for to confirm how healthy is going on the development of those offline safer wallets, it is just matter to daily check & keep a close eye on their official website only to check the news.
I hope you already have created your Localbitcoins account also. If it's so, I bet neither your wife or your little baby will have any troubles to learn quickly how to take over and to seize your filthy richness in a blink. Eventuality, which I'm willing to bet that will not be needed to happen too soon. In sight of the long long healthy life and presence on this planet that I augur for ya. :)
Yes, Thank you for your help :)
I actually haven't got to localbitcoins yet. I am a slow mover...
You are always very welcome mate!! :)
And if it is really true that you are a slow mover. I can push you and annoy you daily kinda like the most irritating & exasperating mother-in-law on earth to get on your nerves quickly as to send you straight to frenziedly create your LB account in a trice. :p
Yeah i turn into a nervous wreck too and I'm not exactly moving small fortunes around either, not just you 😆
:) One day, we will have so much it won't matter right?
I imagine that my freakout will increase in direct proportion to the amount XD
Diversity is good. All of your eggs are not in a single basket.
Diversity requires detailed records. Records create vulnerability. Vulnerability creates anxiety .
I poses a few ounces of silver. I have distributed them to various locations. Finding all of it is unlikely for the unknowing. Anxiety eventually needs to become easy to manage.
Do you ever feel like a pirate?
I definitely need to get more systematic in my approach. Build good habits for this early.
No. No pirating here.
I have a very low trust level with banks and fiat currency.. They be villainous scallewags.... the lot! Mark me words matey.
Yes, almost every transaction I make with Poloniex or Bittrex I start out with a .001 SBD transfer to ensure it is accepted. Once bitten, twice shy! It will be a while before I fully trust the exchanges.
Can you move directly from poloniex to bittrex?
I personally haven't done it, but I don't see why you couldn't. Each exchange gives you a unique address you transfer your funds in and out of. All you would need to do is give Poloniex or Bittrex the address of the other when transferring.
None have gone through. I was just assuming that Poloniex are punishing me for leaving them :)
Your post is very interesting to follow .. i pray you always given success.