Plz plz plz - keep your BTC in your non-market wallet and only deposit into your DNM wallet what you need, when you need it

Sorry for such a cancerous title, but it's crazy how many posts I read of people loosing shit tons of BTC because a market exit scammed and they had x amount of BTC. Not just vendors, buyers too.

Please do not keep any money you don't need at that time, or are planning on using very soon in your Market's wallet. Keep it in your electrum wallet, or whatever else it is you use, and then when you need it, send it through a tumbler to your Market before you buy.

This would greatly discourage markets from exit scamming and reward them less if they did, and save you a lot of time and money.


Comments


[48 Points] Randaal_Inc:

I don't get why people leave money in markets. That's like giving your money to a complete stranger and trusting them to hold onto it


[19 Points] None:

another exit scam and not more than $5 lost from me. u gotta be a fuckin moron to leave money on these markets.


[12 Points] BarmeloXanthony:

even if it's like 0.00xxx, shitt. they add up


[5 Points] NightSymphony:

I'm surprised this needed to be a post.
Best thing about multisig escrow is money is never needed to be on site and out of your hands. from your wallet straight into escrow where no 1 party can just take it. 2 of 3 multisig requires 2 parties involved to agree by signing the transaction with each of their bitcoin private keys. if market goes down, buyer and vendor can still cooperate to move the coin where it needs to go. I recommend buyer keep track of their redeem script, bitcoin private key from the same bitcoin address as the bitcoin public key, and order number. vendors keep track of your own. Redeem script and order # will be the same as buyers.


[6 Points] DJDomTom:

Recommended tumbler?


[3 Points] Vendor_BBMC:

I'm pretty sure Nucleus isn't an exit scam. No bitcoin is moving. Also, the owner's personal bitcoin wallet hasn't done anything since 13 April.

I think the owner may have been arrested on 13 April. Maybe the server is safe, maybe the cops have it and haven't emptied the bitcoin out yet - I don't know.

I think it's likely that the owner was doxxed by 6 transactions totalling 59 btc he cashed out at localbitcoins, sent by a wallet which has had a quarter of a million dollars a month pass through it.

Lets keep our fingers crossed for Mr Nucleus.

https://www.walletexplorer.com/wallet/NucleusMarket

All the bitcoin (5000 btc-ish) is still there, but the last withdrawal was clearly him (12 btc) and he didn't tumble it.


Back to the general subject of the thread:- Have you ever wondered why, when you release the escrow, the bitcoin doesn't go to the vendor's OWN (offsite) wallet? One bitcoin address is like another to a computer, so its like a shopping mall making all the shops in it use the mall's cash registers, which are bolted down.

On Silk Road, there was an automatic withdraw system you could set up to send your taking offsite as soon as you were paid. I'd be grocery shopping at night and my phone wallet would make that "ker-ching" sound.

The reason Ross set this feature up was because he had no intention of stealing from vendors. What's the point of a multisig escrow, if it releases to just another pretend "bitcoin wallet" which won't work just at the wrong time.


[3 Points] ag0risthooawayyfoe:

Well all the money in escrow is more than enough to run off with and be set for life, I had ~$2k stuck in escrow on abx when they exited


[3 Points] Dnm_cunt:

Yeah people are dumb af. Just use MtGox ffs.


[2 Points] abrakazan:

After all this time- how have people not learned that? At this point, no one should really be a novice. Even beginners should have read enough into our history to know better on a lot of the basics.


[2 Points] 25c-nb:

I thought this went without saying, I figured everyone would have known this by now. Seriously how hard is it.


[1 Points] papayabananatree:

Alas the price of stupidity


[1 Points] CynicalElephant:

Or do leave your money in your market wallet, and then have it robbed from you. I don't really care if your money gets stolen, just don't bitch about it.


[1 Points] jaharden:

Do people not do that?


[1 Points] Anothersleeper:

People leaving the btc encourage the markets to bounce. Greed and desire are base to the human condition, they are one pointed and exist for one reason.


[1 Points] Theeconomist1:

We will never learn.... Doomed to always repeat history.


[1 Points] madisonrebel:

I don't "keep" my BTC. I buy it as needed with the intention of spending it quickly. Avoids losses due to price fluctuations, and keeps my transactions small and low-profile. But then, I'm just using it for personal purchases, not a business.


[1 Points] TheOpiateKing:

No one is complaining about leaving money on the site. They are complaining about literally just placing an order, or having an order in escrow for a day or 2 and not getting their goods. I don't think anyone actually left coins sitting there.


[1 Points] niggerghost:

it's common sense people!! keep your transactions small and your market wallet low,just put enough money to cover the cost of whatever it is you gonna buy.


[1 Points] bnb1337:

Personal wallet is life


[1 Points] droppingwhen:

Thought this was common sense, been doing this since day 1. I might keep it in a market for 24 hours and that's because it was tumbling -> going to it -> confirming and I'll either get bored and start something else and forget about it or leave or go to sleep lol.


[1 Points] jeinova:

only send to DNM when you are about to order something. Send only the amount you need. Should be common sense. Would you give extra money to your local grocery store for the next time you go there in the future?..


[1 Points] TripAddict:

[deleted]


[1 Points] TDarkKnight:

ill leave no more than 10 bucks in markets. If they run off with my money, then fuck it. Its not easy keeping up an anonymous market with feds all over your ass.


[1 Points] -peacelovehappiness:

I never leave coins in the markets. I deposit 7.5k for a few orders and order my items. 15 minutes later Nucleus is down and hasn't returned. What are the chances...


[-1 Points] None:

I keep all my btc in my boof hole