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    Author Topic: bitcoin can't be robbed  (Read 785 times)

    • Pablo-wood
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    July 31, 2023, 07:16:54 PM
     #101
    Quote from: SquirrelJulietGarden on July 31, 2023, 08:26:42 AM
    You use cash to buy Bitcoin at Bitcoin ATMs.
    You see in the following article, there is no bank cards to use and trade at Bitcoin ATMs that only have cash. If you need bank cards to use at Bitcoin ATMs, is it better than using banks and bank ATMs? KYC will be required and if you are Bitcoin user, more or less you don't like KYC.

    Bitcoin ATMs: A beginner’s guide to Bitcoin teller machines
    Thanks for that resourceful insight. I now get why Bitcoin ATMs won't use bank cards the KYC phobia; I used to think bank cards were the major means by which Bitcoin users purchased their coin but now I understand why cards will never be used on a Bitcoin ATM machine so as to maintain to keep the transaction pseudonymous.

  • serjent05
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    July 31, 2023, 09:30:09 PM
     #102
    Quote from: worle1bm on July 31, 2023, 11:58:00 AM
    If we just leave aside this case then there are many ways btc can be robbed like online scams or even physical threats also if someone came to know about your Bitcoin storage as we have seen in some cases.So the title don't go in all the ways as bitcoin ATM machine also have cash inside it so they can get it although they were fool enough to take it as fiat one.But there are ways if you are ignorant enough that your btc can go to someone else.

    I agree, Bitcoin just like any other asset and finances can be robbed if we are too careless with our information and security.  Hackers and scammers always aim to find vulnerabilities among Bitcoin holders.  If they found out that there is these vulnerabilities that they can exploit in order to get access to our Bitcoin then they can rob it.  So there are lot of evidence that can dispute @OP's title disregarding the incident of the ATM stated in the first post.

    So I would say to the newcomers that are reading this thread that Bitcoin can be robbed if we are very lapse in securing our Bitcoin holdings.

  • Franctoshi
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    July 31, 2023, 10:05:11 PM
     #103
    Quote from: serjent05 on July 31, 2023, 09:30:09 PM
    Quote from: worle1bm on July 31, 2023, 11:58:00 AM
    If we just leave aside this case then there are many ways btc can be robbed like online scams or even physical threats also if someone came to know about your Bitcoin storage as we have seen in some cases.  So the title doesn't go in all bitcoin ATMs also have cash inside them so they can get it although they were fool enough to take it as fiat one. But there are ways if you are ignorant enough that your BTC can go to someone else.

    I agree, Bitcoin just like any other asset and finances can be robbed if we are too careless with our information and security.  Hackers and scammers always aim to find vulnerabilities among Bitcoin holders.  If they found out that there are these vulnerabilities that they can exploit to get access to our Bitcoin then they can rob it.  So there are lot of evidence that can dispute @OP's title disregarding the incident of the ATM stated in the first post.

    So I would say to the newcomers that are reading this thread that Bitcoin can be robbed if we are very lapse in securing our Bitcoin holdings.
    This scenario that Op illustrated is not in agreement with the topic or subject matter, and in reality, Bitcoin can be robbed in the ATM if the robbers can hack through the Bitcoin ATM, it is just for them to transfer the funds there to an unknown wallet address.
    And if the ATM were to dispense cash very possible except for the fact they are only used for online transactions which they can hack into and steal the money.
     
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  • Ayebabara
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    July 31, 2023, 10:20:50 PM
     #104
    Those are naive arm robbers, they are very stupid of thinking of such and  making such move. They are ignorant of bitcoin. Bitcoin is only meant for online and nobody can steal the way they steal from the local Banks. Even they steal hardware wallet, yet they can't transfer the coins in the wallet without the key. Unless they forcefully took the keys from the owner as well. Then another how to do it, because from the op story the way I look at it , the arm robbers didnot even know anything about bitcoin they might only know that bitcoin is money and they were they to steal the money. Lol. What a disappointment.

  • Fatunad
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    July 31, 2023, 10:31:18 PM
     #105
    Quote from: RiverBoy on July 31, 2023, 07:06:15 PM
    That's very funny for a person building Bitcoin ATM to withdraw Bitcoin or any other cryptocurrency, which is not possible, because Bitcoin is simply means a digital currency, which can not touched, but only see the virtual figure of the assets you have in wallet and all Bitcoin transaction are being done online. Accept when government officially accept as a means of transaction in a country, it can be able to link with Bank, by issues ATM to withdraw as Fiat money, base on the current price in market to the local currency exchange rate, it we come to past as long Bitcoin is exist on the planet
    This is the difference if you do have the knowledge or not and since these robbers do really have that kind of knowledge about ATM's on having fiat then they would really be coming after on whats inside.
    The thing on here is that they do destroyed out an BTC ATM machine which you wouldnt really be seeing any cash inside or if ever there's one then it wont really be that soo much big.
    Everything would really be that in digital form in terms of those amounts and if you dont have the idea on what it is, then you would really be having impressions that the said ATM is empty
    and having no cash but eventually that is really having that funds inside but its on digital form.I dont know if these ATM's does have  that kind of private key generation for each
    address, but if it does have then it could potentially be that known on those possible exploits of those wallets that had been that generated.
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