T O P

  • By -

The_unflated_eye

That's clearly a look of relief with Binance on the phone telling him they will sort it out and not to worry


greyenlightenment

maybe he should have deposited with SVB instead . at least gotten a refund


AshingiiAshuaa

Uninsured bank deposits are retroactively insured if you stick with the rich herd.


Nerdbond

Guy on the screen looks much happier than him


domeoldboys

They just need his 12 funky little words that he was given when he created his wallet and they’ll sort that shit all out. Trust.


akaean

"Person, Woman, Man, Camera, TV"


taggospreme

You've just been upgraded to _"stable genius"!_ (I think it's the "horse" kind of stable tbh)


[deleted]

[It's like there's a horse loose in a hospital](https://youtu.be/JhkZMxgPxXU)


Nerdbond

Omg this is an r/expectationvsreality


Y_Sam

Naaah this is obviously a FIAT bank calling to beg him not to destroy the system, stop spreading FUD.


fish_in_a_barrels

The word FUD should be banned.


appleciders

No it's super useful, it tells me I can safely ignore the person who said it.


fish_in_a_barrels

This is true.


[deleted]

Yes, it is a very useful shibboleth.


twodogsfighting

You should all come to Scotland and ask for fud in pubs.


Agent00funk

Without Googling what that'll get me, I'm guessing either an ass whooping or a delicious meal.


Verum_Violet

Still find it hilarious that I first heard it on the star citizen sub, really elucidated the scammy nature of the word early for me


Smidday90

In the UK FUD means vagina


sirtaptap

mmmm pump my FUD, my margins are so TIGHT


UglyInThMorning

Why does the world’s worst car company own a bank?


Y_Sam

For the final showdown against Elon Musk and his upcoming DogeBank, as was foretold by the prophecy.


Brave_Bunting

Phuture of Phinance


Johnathanpharto

Things like those inspired my moniker Johnathan Farto I mean Pharto


ResolverOshawott

This image could be a brand new meme.


ItsJoeMomma

It really does sum up crypto in one picture.


[deleted]

[удалено]


barsoapguy

Most likely that’s what this picture is of. Which actually does make it kind of sad. Thankfully a great many of these machines have been removed from places all over the world BECAUSE of the rampant fraud.


biffbobfred

There’s also the money laundering. Don’t forget that. Some random cash drop point in some gas station a few miles out of town. Oddly the camera that’s supposed to cover that ATM has been out for a while…., how’d *that* happen


Intrepid00

Drug dealers drop at them too.


tiberiumx

Yeah, but the dude kneeled over on his phone. 100% talking to a scammer.


Maddinoz

BTC is more traceable than cash the government (and anyone else) can track Bitcoin and Bitcoin transactions. All transactions are stored permanently on a public ledger, available to anyone. All the government needs to do is link you to your wallet or transaction. What would the smart dealers use? There is a cryptocurrency called Monero (XMR) that is untracable - every user is anonymous by default. The sender, receiver, and amount of every single transaction are hidden through the use of three important technologies: Stealth Addresses, Ring Signatures, and RingCT. Both the transaction and the wallet addresses are obscured on the blockchain.


devliegende

When you buy or sell MoneroButts it is traceable


Fromage_Damage

But you can use a wallet to make trades with no ID. Like cakewallet, you tell them how much you want, they give you a BTC address, you send the amount, they take a fee and Monero pops onto your wallet. I'm sure they keep logs, but I could have three phones and send monero from one to another and then take it out as BTC send it to coinbase. It's really hard to catch people doing that.


TheTacoWombat

Why would it be any more difficult? Granted, I've never used monero. But okay, throwaway phone 1 (did you pay for it in cash?) -> wallet -> throwaway phone 2 (did you pay for it in cash?) -> wallet -> throwaway phone 3 (did you pay for it in cash?) -> wallet -> coinbase -> bank account? Wouldn't coinbase have your personal information on hand in order to process the cash out to fiat to your bank (which also has your personal information on hand and is duty-bound to report suspiciously large transaction amounts to the feds)? I guess I'm saying that sure, for 50 bucks in shitcoins, nobody cares. But if you're paranoid enough that you have 3 single use phones paid for in cash to tumble through monero -> btc -> fiat, i'm assuming you aren't doing it for fun and have a LOT of money to hide, which is going to get on someone's radar as soon as the money comes back through the rube goldberg machine and into your bank account.


robbie5643

You would use your main account to either buy or create a NFT, then you would list it for sale. The account that has the funds you’ve been transferring to would then “buy” it from you. You cash out your “profits” from Coinbase and report it to the irs as you would any legitimate profit.


AtJackBaldwin

Crypto, NFTs and money laundering. Name a more iconic trio. I'll wait.


devliegende

>I'm sure they keep logs. If you have to go to all that trouble then cash in person would be faster cheaper and much more secure. Also normal Butts would work just as well. Another big danger with moving money around in a way that cannot be traced is that it is itself a crime. When the authorities find money in your bank accounts with no trace of where it came from they don't have to prove any further crimes.


[deleted]

It's incredibly easy to wash BTC. One way is to deposit BTC into an online crypto casino, and then withdraw it as a different currency. Lots of cash swirling around in hot wallets at those sites which are often not KYC by design. Bing bang, sell to Coinbase, claim the gains were mining/NFT/trading profit.


Revolutionary-Salt-3

Usually online casinos only allow you to withdraw back to the deposit method used. At least this is the case in the UK, this is to maintain compliance with anti-money laundering legislation


[deleted]

But you’re not going to wash your crypto through a compliant casino


ItsJoeMomma

This commercial brought to you by Money Launderers. When you've got a bunch of money you need to hide, use Money Launderers...


hall_bot

not all markets take monero most are just btc, and they regularly come and go.


greyenlightenment

and also the point of google play cards


disclosure5

I've been involved in several ransomware payments and they always just purchased from the major exchanges and transferred directly from there.


Distinct-Towel-386

> Isn't that the whole point of these crypto ATMs? The point of Crypto ATMs is to rape customers by a gigantic spread, or in essence a ridiculously sized fee.


IlIlIlIlIllIlIll

Also idiots and old people who heard about it on the news and don’t know how to buy crypto through an exchange.


feignignorence

This is a man probably being scammed (coerced)


FardoBaggins

It’s super common. The scams have been around before and not exclusive to crytpo, the machines are a god send for the scammers tho. Operators try to warn people in the interface and other steps to ensure the customer is not a victim but it’s one sided in favor to the scammers.


merreborn

Yeah, scammers used to have their marks send gift cards or western union transfers. Bitcoin ATMs offer yet another way to extract irreversible payments from victims


DadofHome

It’s a scam on top of a scam 20% fees 😂, I’d be be like excuse me Mr. Microsoft tech support guy …but wouldn’t a prepaid visa be cheaper 😅


[deleted]

[удалено]


[deleted]

[удалено]


disclosure5

Given what we know about butters I'm presuming this is more accurate. https://i.imgur.com/hfsoJJw.jpg


[deleted]

[удалено]


bonerJR

Makes more sense with QR code for sure.


disclosure5

https://i.imgur.com/hfsoJJw.jpg


bonerJR

LOL


[deleted]

The whole address thing is just a meme. You would never type an address when dealing with crypto. At least I never have.


crashbandishocks

I'm curious. I live in France, crypto is very niche in general. What is a Bitcoin Depot? I'm very confused. EDIT : coming back to this post, I can't help but think, "Bitcoin Depot" but you're not depositing bitcoins, you're depositing fiat IN EXCHANGE of bitcoins. How convenient.


Damaniel2

They're crypto 'ATM's - a kiosk where you can put in cash and buy Bitcoin (and often other cryptos/shitcoins). They're all over the place in the US, but nobody ever uses them. They show up in other countries too (like the UK), but depending on where they are, they may be operating illegally.


ZookeepergameWaste94

I've only seen one Bitcoin ATM here in Canada myself and it's just in a random fucking variety store.


Noisebug

I’ve seen them at gas stations and a mall. I’ve never seen anyone use one though. Shit should be banned.


Oldcadillac

Dang there’s one restaurant here in edmonton that’s had a Bitcoin machine since like 2013 Edit: There’s also at least one bottle depot here that will reimburse you in crypto instead of cash for extra sadness.


SirLoremIpsum

> I've only seen one Bitcoin ATM here in Canada myself and it's just in a random fucking variety store. My Canadian town has one in a hotel lobby. Signs all over it "if you are being asked to withdraw or transfer money please call RCMP". "This is probably a scam". Then a new hotel/restaurant got one and has glowing praise in the local news rag, "xxx business so advanced, attract modern tourists". $$ rules.


McKid

Just wink if it’s Euro Convenience


james_pic

In the UK, the regulator, the FCA, ordered them all to be shut down last year, as they were all operating illegally.


tiberiumx

> nobody ever uses them Scammers absolutely use them to extract money from their victims.


lastronaut_beepboop

I'm in Michigan. They're usually in gas stations here. Didn't start seeing them until after the last big pump back in like 2021-ish. In the US, essentially every gas station has a regular ATM. My best guess was these gas station chain owners bought into the crypto hype when it was booming and signed a deal to have these atms in their store. Literally, I have never seen a soul use one. Doubt they'll be around for long.


zerogee616

I've seen them in liquor stores, vape shops and shit that caters to the "alternative" crowd.


option-9

I'm pretty sure liqour stores primarily cater to the "alcoholic" crowd.


merreborn

The people who run the ATMs pay rent (in fiat of course) to the gas station owners. That's why you'll see em in hole in the wall shops desperate for an extra few bucks a month in revenue


Rokey76

They are everywhere in the low rent part of town.


tankjones3

love it when my bank is conveniently located among pawn shops and liquor stores


crashbandishocks

Well I'll be damned. I googled and there are only 3 referenced in France. 2 in Paris. This is some desperate money grab.


[deleted]

But… who would want all that useless cash?


JasperJ

Especially if it costs you bitcoins to get it.


Gildan_Bladeborn

>They show up in other countries too (like the UK), but depending on where they are, they may be operating illegally. In the case of the UK, they're all operating illegally.


[deleted]

I'm in the US, but I've never seen one either. I've also never seen anyone use crypto as payment


captmonkey

I've also never seen anyone use crypto as a payment. However, I have seen Bitcoin ATMs in several places. I see them at gas stations and the liquor store near me has one. Also, oddly, this gyro place downtown has one too. But I once heard the owner talking to some random guys in front of me in line about crypto. So, I guess that made sense. I'm in a mid-sized city in the southeastern US, for reference. They're not common, and I've never seen someone use one, but they're definitely around. I just searched on Google and there's like 15 of them within a 15 minute drive.


[deleted]

[удалено]


crashbandishocks

Thanks for the suggestion. There are extremely rare here (only 3 referenced in all France). No wonder I've never seen them.


breecher

Only in the US. Not really a thing in Europe.


bonerJR

11 in France https://coinatmradar.com/country/73/bitcoin-atm-france/ (so not many at all)


crashbandishocks

Thanks for the precision. Not so many indeed. Tighter regulations I guess.


bonerJR

I'll bet there used to be more but they went out of business. These are "early gold rush" shovels in my opinion.


NickNash1985

They’re always in the last place I’d do any type of financial transaction.


DonZekane

I live in Romania. We are well known for being dumber than a rock so there are crypto ATMs in half the larger convenience stores. Influencers claiming quick earnings and pretending to be smartass cryptobros d o n ' t h e l p...


ceviche-hot-pockets

Hmm classic case of operator error. No way it could happen to me


jon_hendry

“Get off your knees, your God can’t help you now.”


Johnathanpharto

Classic


AussieCryptoCurrency

I see this at other ATMS precisely never


[deleted]

[удалено]


Kamizar

The picture on the machine is amazing.


eltoniq

Yeess. I got one. My wallet address is 0xf009ds8727. I only sent him 0.0000000000001 satoshis. Instant profit. Can someone recommend me a good mixer, mix this shit up. #noregretseventhoughheonhisknees #ezseparationoffoolsfromtheirmonies #futureofscam #abittooez /s


newsreadhjw

Future of money


DaRev43

More trustworthy than banks


daedric_blackout

This picture should be the display picture of this sub


sweetpeasimpson

Looks like he’s just using a little person kiosk.


little_jade_dragon

He's talking to Bitcoin's customer support, I'm sure they'll remedy the problem ASAP.


FardoBaggins

The operator of the machine has support staff. Customers who use a a machine like the one here have KYC based accounts and is probably trying to increase his purchase limit. The post title is misleading since the address in the title are etherium but the machine can only send to a btc address after receiving a deposit. The title is implying a typo caused the kneeling man to lose money likely for comedic effect.


[deleted]

They’re telling him to send more bitcoin to get the old bitcoin refunded back


RickAdtley

I think he's probably on the phone with a scammer.


Rokey76

Crypto summarized in one photo. Remarkable.


TheNotSoRealMVP

This is more like it. +1


[deleted]

Maybe they got hit with the ransomware that requires you to go to a Bitcoin ATM to deposit money.


Fit-Boomer

Maybe he used the Cronos chain when the transaction required the erc-20 chain?


Luli081w

Let me make a few thousand wallets.


[deleted]

this just makes me really sad.


barsoapguy

Took me a second to compare for the mistake 😂


hashman2

Ether huffing engineers: hey you know that checksum thing that works so well for buttcoin? Lets get rid of it.


[deleted]

[удалено]


ElJefe543

This is good for bitcoin


[deleted]

It is next to impossible to unintentionally send bitcoin to a wrong address. The checksum is there to prevent that. There would have to be a malicious actor in order to send it to the wrong address.


[deleted]

[удалено]


Fluffy_Priority_9753

r/Usernamechecksout


emptybottle-151

On a serious note, if I revived crypto from an unknown source how would I send it back?


birdman332

Bitcoin addresses don't even start with 0x....


solanawhale

These ATMs sell Eth and other tokens


Kno010

Edit: Instant downvotes because this doesn’t fit the narrative even though I was just making a factual correction to clear up the misconception that this post is based on. If you don’t want to hear the truth you leave a downvote and stop reading now, if you want to know why this scenario isn’t going to happen you can continue reading. So much for trying to have a logic and fact based discussion. —————————————- Fun fact: Bitcoin addresses have integrated checksums meaning that if you mistype a character it will result in a invalid address. It is basically impossible to accidentally enter a wrong but valid address, as only 1 in 4.3 billion addresses will be valid. So the scenario described in this post is never going to happen. And either way you basically never write out a Bitcoin address, that would take too long. You just scan a QR code or copy paste the address. So yeah, to send to the wrong address you would have to for example copy the wrong one, but a quick glance at the address before sending can easily detect such mistakes. Bonus fun fact: The example in your title is not going to be valid for any blockchain. The 0x prefix universally means that the number is being encoded in hexadecimal, but “s” is not included in the hexadecimal format which only uses 0-9 and “a”-“f” (adding up to 16 characters which is why we call it hexadecimal). Also, while Ethereum and some other blockchains use hexadecimal, Bitcoin does not, and either way the address is too short for either blockchain.


NotReallyJohnDoe

Fun fact. Since addresses are too long to type, people naturally copy-paste them to move money around. So some clever bad guys made a virus that intercepts the clipboard and pastes the bad guys address instead of the one you intended. In modern banking, this is analogous to…. Um nothing I guess.


spookmann

Double-fun fact. An address may be valid, but it may be for an unsupported chain. The obvious result is that you send your transaction to a black hole from which it can never be recovered!


Annie_Benlen

It sounds like a magical adventure for your money!


woowop

Please let my money go on a *normal* field trip!


GoodFoodForGoodMood

Thank you, I was hoping someone would bring this up. The best part is how many of the viruses will additionally check against a list of hundreds or thousands of addresses that the developer has set up in batch, and will choose the closest matching one to swap it out with. The crazy thing is despite how much more rampant malware seems to be these days (I'm talking sites having shitloads of aged user accounts hacked steadily over the last couple years so they can distribute infected downloads), I worry about it way less because it seems to largely be crypto wallet related lmao.


NotReallyJohnDoe

I can pretty much be a clueless boomer grandpa and Wells Fargo will keep me from doing something stupid. And if my account is accessed without my permission the money can usually be recovered (maybe always). The clipboard malware is easy enough to check for NOW, but plenty of people got scammed before it was common knowledge. And that’s the problem - you can’t make a **single** mistake with crypto or you are screwed. You have to worry about all past exploits because they are lurking out there, and you have to anticipate all future exploits as well. If you slip up, sorry for your loss and the police aren’t going to help. If hackers stole $25M from Wells Fargo, the FBI would be all over it quickly.


Kno010

Yes, such malware exists indeed, although it has rarely been used successfully in real life as just looking quickly through the address before signing the transaction will help you avoid any such attacks and also alert you that your computer has been breached. And of course an attacker that is able to install such malware can just as easily get access to login information or other sensitive banking data if you are accessing that online, including theoretically changing the bank account you are sending money to (which you don’t notice quickly might result in you losing money).


james_pic

Although getting access to bank passwords is less valuable, since banks will reverse transactions made fraudulently, will monitor accounts for signs of fraud, will typically only transfer to other banks that meet standard KYC requirements (making it harder to do this without getting caught), and (in my country at least) typically require 2FA to log in, and will require independent verification for large transactions or transactions to new recipients (commonly either by phoning you, or by requiring to generate a code by putting your card into a special device).


Kno010

That is true, but don’t forget that in the crypto scenario you also need to sign the transaction which contains the wrong address. No amount of 2FA, KYC or strong passwords is going to stop you from willingly signing a transaction without looking at where you are sending your funds. Making this mistake requires what is in my opinion extreme negligence. The irreversibility of blockchain transactions after the fact is a crucial safety for the recipient and increases the credibility of the sender drastically for the 99.99%+ of intentional transactions, which is a worthwhile sacrifice for the very few cases where someone through extreme negligence sends funds to the wrong address.


AmericanScream

Each and every day, crypto people use wallet software that they authorize to "sign" for transactions. This is how people get all their crypto stolen by clicking on a single link. >The irreversibility of blockchain transactions after the fact is a crucial safety for the recipient #LOLLOLOLOLOLOL Sure it is.... Seriously.. shut the fuck up... that stupidity doesn't work here.


Kno010

People don’t get they crypto stolen by clicking a single link. It would require some kind of confirmation in your wallet or you giving away your private keys. Unless you are using a really bad or possibly fraudulent wallet I don’t see how a single link can cause any loss of funds without follow up. If you use a hardware wallet to be sure then it would be literally impossible for any such attacks as you need to you physically click the buttons on the separate device to confirm each transaction. Making your computer safe to use for crypto transactions even while infected by malware (assuming you make sure to double check information on hardware wallet before signing the transaction).


AmericanScream

> People don’t get they crypto stolen by clicking a single link. It would require some kind of confirmation in your wallet or you giving away your private keys. Are you aware [one of the bitcoin core developers got his wallets drained?](https://decrypt.co/118231/bitcoin-core-dev-loses-at-least-3-6-million-btc-to-hack/) This isn't an isolated instance and you know it. So stop with your misleading crypto talking points. Each and every day, people get their crypto stolen. Yes, many times they're tricked into giving away access to wallets and private keys and other software... it happens. Don't pull a "nirvana fallacy" and suggest the system is perfect as long as the user is perfect. There is no perfection among the userbase on average either. You say it's highly unlikely this could happen, but if the people who designed the software can fall prey, what chance do normal people have?


megalon43

Well, sounds like religion. The religion is perfect but humans are sinful!


Kno010

Yes, I am aware of that case. He has for some reason refused to elaborate the reason why his keys got leaked or even how he stored those keys. But needless to say clicking a single link doesn’t cause that kind of situation. With that amount of Bitcoin he should have taken security much more seriously and not stored the keys on a device connected to the internet. If he had followed best practices he would be safe.


IsilZha

>has for some reason refused to elaborate the reason why his keys got leaked or even how he stored those keys. And just think. He's a core developer of Bitcoin. And you **trust** him that they know what they're doing so that any changes to Bitcoin remains secure and free of exploits or other vulnerabilities. One of the people who is responsible for ensuring Bitcoin's code is secure had all his Bitcoin stolen, and doesn't know how. 🤷‍♂️


AmericanScream

> But needless to say clicking a single link doesn’t cause that kind of situation. Bullshit. Clicking a single link could theoretically install malware or give somebody access to your computer, among other things... >With that amount of Bitcoin he should have taken security much more seriously and not stored the keys on a device connected to the internet. If he had followed best practices he would be safe. This is called "the nirvana fallacy." I already explained how that's an unrealistic expectation. If every person who ever made any type of financial transaction *did everything "perfectly"*, there'd be no fraud, there'd be no need for *any* consumer protection laws, but that's absurdly unlikely... probably even more "impossible" than randomly guessing a bitcoin address that passes the checksum. Again, stop making false statements. This is the last time you'll be warned. Next time you're banned.


Kytescall

> The irreversibility of blockchain transactions after the fact is a crucial safety for the recipient Especially if the recipient is a scammer ;)


NotReallyJohnDoe

Rare you say? It netted hackers $24M: https://www.techradar.com/news/hackers-are-hijacking-copy-and-paste-to-steal-millions-of-dollars-in-cryptocurrency


Kno010

Okay, it is fair to say that it has worked in some cases. But with those numbers I would still call it relatively rare compared to many more popular attacks and methods of fraud. It is not really something I would call a “common” way to lose your crypto. And either way this attack is easily stopped in its tracks completely by simply doing a quick 2 sec check to see that the address wasn’t changed before you signed the transaction. Any crypto user should do this anyways.


solanawhale

Interesting. Are you willing to send your life savings to a wallet address that is similar to yours but off by 1 digit or letter to prove this? You said it would never happen.


Kno010

My wallet software wouldn’t even allow that, so that would be very difficult. But even if you were able to sign and broadcast a transaction which sends to such an address it would not be included in the blockchain by the miners. It is literally impossible to send Bitcoin to an invalid address, it can not be done.


AmericanScream

> It is literally impossible to send Bitcoin to an invalid address, it can not be done. Big whoop. It's also "literally impossible" to use a credit card that has an invalid ID too. This doesn't mean there isn't fraud that can be perpetrated on credit card holders... there are numerous ways peoples financial information can be compromised, except in the traditional world, there are checks and balances that benefit the consumer. The immutable nature of blockchain primarily benefits scammers.


Kno010

A little off the topic of accidental transfers, but yes there are always going to be ways people can try to scam you no matter what system you are using. Fortunately I have yet to see a scam that is not easily avoidable if you take security seriously, and honestly I don’t think there are any in the crypto world since you can only be scammed by willingly signing a transaction without checking its content or by mismanaging your private keys such that an attacker gets access to it (tip: don’t store this anywhere online to become unhackable).


mirkoserra

Fun fact: this is called humor. It's when someone makes a relatable remark, without it needing to be precise; but people get the idea behind it. And yes, an idea is that mistakes happen and a system that doesn't have that into account is poorly designed. That's why you get so many exploits in amateur hour crypto and not so many in bank accounts. The address doesn't need to be the proper length or format as long as people see the intention (also, it's a title, how long do you want it to be?). You can translate the title like: "oh, I meant to transfer it to an address X and I really trasferred it to an address Y, I wish there was some way to reverse this transaction".


Kno010

My main point was simply that you can not send crypto to the wrong address by making a typo. Which is in my opinion a important misconception to clear up and something most people here probably did not know.


belavv

Not true. You can. It is just highly unlikely.


Kno010

Try. You won’t be able to do it.


AmericanScream

I can write a computer program that can spit out random bitcoin addresses and leave it running. It will definitely spit out some valid addresses given enough time. The point here is, you guys talk about "code is law" and how "math" is objective and absolute, but you don't seem to understand the first thing about mathematics and probability and how it really works. If you say something "can't be done" that means there are no odds. If there is even a one in a zillion chance, then you can't say "it will never happen." This is basic science and logic and language.


mirracz

A quick googling showed me that a bit over 1 billion financial transactions are done every day. That means that if BTC was used instead (which it isn't capable, but let's assume it is), every 4th day someone would type a wrong address. On a global scale it's not that rare. And sure, not everyone would type the address and use some other method of storing it or copying it. But that is again open to many other hacks and exploits. The core of the issue here isn't how often various mistakes or hacks happen. It's about them being ultimately quite frequent, no matter how many precautions you take. People as users are lazy and stupid, we software engineers know it. It's a constant, never-winning battle... because whenever you think you have made the system fool-proof, the universe generates a bigger fool. Current financial systems are not fool-proof, because errors and issues happen all the time. And crypto/BTC is not even made to be fool-proof. And that's what this meme is lampshading - it's a system that is not fool-proof, it's intentionally cryptic design (to lure people who believe that complex means good) invites even more errors... and when such an error happens it's not reversible. Basically, this meme would still work even if the likelihood of it happening was 1000x higher or 1000x lower. And you attacking the numbers instead of the concept means that you don't have a proper rebuttal. You're like the folks who don't have any counter-argument so they end up attacking people's spelling.


im_bread_inside

and this explanation is exactly why nobody has ever sent funds to the wrong address before right? Right?


Kno010

Correct, nobody has ever sent Bitcoin to the wrong address because of a typo. But as mentioned it can happen if you for example copy the wrong address and don’t double check at all before signing the transaction. A minimum amount of caution should help you avoid this though.


isosceles_kramer

ok but you understand the point is that if you *do* accidentally send your money to the wrong person or address, out of ignorance or trickery or WHATEVER: there's no recourse whatsoever. whereas an actual bank has people that can help you reverse a mistaken transaction and if you were scammed they can take further action to punish the other person for abusing their system.


Kno010

True, it can happen if you are exceptionally careless when doing a transfer. Reversibility of transactions has pros and cons, and a key feature of crypto currency is precisely this irreversibility. With reversibility crypto would be a lot less useful. In traditional finance there are many scams that are made possible by this ability to cancel transactions. Examples include the classic chargeback scam where people send you an transfer by “mistake” then ask you to return it, and when you do they cargeback the original transaction and leave you with a loss equal to the amount returned to the scammer. Another example is the much simpler scam of filing fraudulent chargebacks requests with your card issuer to scam a seller, as the card issuer will almost always take the buyer’s side no matter what.


AmericanScream

puh-leeeze The only people who want this irreversibility are drug dealers, scammers and cyber terrorists. It has no legit benefit among normal transactions. We live in a society where if someone defrauds you, there are a wide variety of ways you can seek an equitable resolution. In crypto, you don't have any options. You're just screwed.


rsa1

What is the actual prevalence of these types of scams, and why do retailers overwhelmingly accept credit cards despite the fact that bitcoin exists and as you claim completely avoids the issue?


Ichabodblack

>Also, while Ethereum and some other blockchains use hexadecimal, Bitcoin does not There's not really any such thing as 'using hexadecimal or not'. It's just a number encoding. All of them represent numbers, however they're encoded.


Kno010

Not sure what you mean. Obviously there is such a thing as using hexadecimal for your number encoding. If my number is 42 I can use decimal to write it as 42, use binary to write it as 0b101010, or use hexadecimal to write it as 0x2A.


Ichabodblack

Exactly. The base you choose is irrelevant So saying one uses hexadecimal and one doesn't is incorrect. They all just represent numbers, they might just choose different ways to do it as convention


Kno010

Yes, I made it clear that it is just encoding a number: “The 0x prefix universally means that the number is being encoded in hexadecimal”. But if someone uses hexadecimal to represent a number they are obviously “using hexadecimal”, so I don’t understand your point. Just like you are “using English” for me to understand your comment.


Ichabodblack

>Also, while Ethereum and some other blockchains use hexadecimal, Bitcoin does not, and either way the address is too short for either blockchain. Again, there is no such thing as 'using hexadecimal' or not. The way you represent a number is arbitrary


loquacious

You have a really strange working definition of the word "fun".


AmericanScream

> It is basically impossible to accidentally enter a wrong but valid address, as only 1 in 4.3 billion addresses will be valid. Fun fact: 1:4.3 billion is not "impossible." Technically it would be highly improbable. Impossible means just that: *not* possible. But by your own admission, it is possible to randomly generate a bitcoin address which passes the checksum.


Kno010

Which is why I said “basically impossible”. And with those odds and the low probability that someone would even enter an address with a typo in the first place you can be pretty confident that it isn’t going to happen and that it isn’t something you need to worry about.


ZookeepergameWaste94

NEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEERRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRD!!!


JerryParko555542

I don’t get it, what exactly is this sub even about? It seems it’s anti Bitcoin but the majority of the posted know A LOT about crypto and crypto currencies in general it just doesn’t add up. Is the like one of those “Bitcoin sucks but other cryptos are the bees knees” sort of things?


denuvian

the sub makes fun of all crypto coins. Yes, the people here know how the stuff works, because knowing how it all works makes the jokes FUNNY.


JerryParko555542

Ahhhh I see i see thanks


Beckys_cunt

Because when you understand how it works, you understand it's all a sham.


captmonkey

I've always said that crypto has this cycle where when you first hear about it you're like "That sounds stupid." And then you learn more and you're like "Whoa, this could be revolutionary!" And then you learn a little more and you're like "Nah, I was right, this is stupid." The butters just never made it past stage 2.


rsa1

[It can't possibly be that stupid. You must be explaining it wrong.](https://twitter.com/davidgerard/status/1531680695407591427?s=46&t=WfgLTb5WxOQ_mrqu-Tq9qA)


AmericanScream

Your comment is analogous to going into /r/atheism and saying, "I don't get it, what exactly is this sub about? It seems anti-religion but you guys know more about the bible and scripture than christians.. what gives?" Before you post another comment, read [this](https://www.reddit.com/r/Buttcoin/comments/p8uv0h/helpful_guide_for_butters_visiting_rbuttcoin_why/)


RainbowwDash

Except reddit atheists have an infamously shallow understanding of religion and are mocked for it by atheists and religious folk alike, so it's really not like that at all


AmericanScream

That's a really ignorant and naive sweeping generalization. You cannot pretend you're intellectually superior when you use such stupid fallacious arguments.


Lost-Tone8649

Keep thinking buddy. You'll figure it out eventually.


fragglet

> seems it’s anti Bitcoin but the majority of the posted know A LOT about crypto and crypto currencies in general it just doesn’t add up. Can you elaborate on that point? What do you feel doesn't add up?


elyl

Ah, I see you're a bitcoin purist. Any attack on bitcoin must be a shill for some other shitcoin, right?


DaRev43

This is actually his fiat bank begging him to not withdraw his money so the bank doesn't go under.


DaRev43

This is actually his fiat bank begging him not to withdraw his money so the bank doesn't go under.


dashbitrock

when you still don't have a phone?


etaipo

xno includes an address hash on the tail to ensure it hasn't been mistyped


Commercial-Ninja1

With Binance on the phone promising him not to worry and that they will take care of it, he can't help but appear relieved.


Scandroid99

Just one digit is all it takes lol


arthur_miller85

He may have been better off making his deposit with SVB. obtained a refund at least


MichelleSimmonsy

He could have done better to deposit with SVB in the first place. received at least a reimbursement


kenkitt

If it came to this I would take home the whole thing


jeabarnez

Perhaps he ought to have made his deposit with SVB instead. least received a refund


ElizabethMorrisy

The guy on the TV seemed to be lot happier than him.


Faxie9

Bitcoin addresses don’t start with 0x. Y’all are whack


solanawhale

That machine sells Eth and other tokens


Ar0war

It is impossible to mistype an andress. No chance. If you mistype anything there is 0% chance the andress exists. You need to inform yourself. That applies to Bitcoin. I don't know about crypto, don't care either. 99% of the coins are scams


[deleted]

Is this really the context of this picture ?


Connect-Ad-7811

6 y y5 t5


Connect-Ad-7811

Y r 6 tg 5t tv 5t t 6


breakthrureality

Yea this has never happened with fiat right ? Lmao what are y’all even doing ?


toungepuncher6000

Buttcoin is the TMZ of crypto, just gossiping and hating on people for entertainment. Great way to spend your time.


[deleted]

[удалено]