Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

founded 1 year ago

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Did you know anyone can freeze your account on an exchange with one unblockable trick? (universeodon.com)

submitted 1 day ago by [email protected] to c/[email protected]

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This week on "Unexpected Downsides To #Cryptocurrency":

Did you realize that you can't reject #blockchain transactions and therefore anyone who wants to harass you can more or less freeze your "bank account" at an exchange like #Coinbase instantly just by either:

a) sending a euro through a sanctioned mixer service like #TornadoCash before sending it to you or

b) sending a few cents to a sanctioned terrorist wallet before sending you a single cent

The automated systems used by Coinbase will immediately notice that you have interacted with suspicious or sanctioned wallets and Coinbase, which, like all crypto companies, spends as little as possible on customer support, will lock your account until you produce a passport for the person who sent you that tiny amount of money (often for months).

These so called "dust attacks" constitute revolutionary new vectors in harassment.

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[–] [email protected] -1 points 21 hours ago (2 children)

Not your keys; Not your coins.

[–] [email protected] 3 points 1 hour ago (1 children)

What a snappy slogan. Did you come up with it all by yourself?

[–] [email protected] 2 points 1 hour ago

No, I'm not really well versed in crypto. A friend of mine that works in offensive security mentioned this to me. Basically with how the algorithms behind cryptocurrency work, and with how the legal process works, you don't have control over any of your coins nor do you have legal avenues to correct any wrongdoing, nor does any human power or agency have the ability to forcibly correct actions taken by bad actirs. You MUST treat crypto like cash in a mattress and do everything yourself, anything else is a security theater facade.

[–] [email protected] 8 points 19 hours ago

not your peepee not your poopoo