From what I understand, that’s how a lot of financial exchanges work. Unless you do the work of buying and selling cryptocurrency directly from and to other holders yourself, or transfer it into your own crypto wallet, your assets only exist within the exchange’s own systems.
Seems that way. Kinda wild to have 2000 bitcoins floating around. Not sure I really understand whats going through a crypto enthusiasts brain to know this is still happening and still have any faith in the system whatsoever. Maybe the ledger is fine, but whatever this is, its not what its being presented as.
Either transactions are on chain, or they aren’t.
Then how did they get them back in 35 minutes? I seriously thought that if they’re gone, they’re gone.
Well they are clearly not on chain then, right?
So this exchange is an air number type place then. That’s what you’re saying? Ig, good to know.
From what I understand, that’s how a lot of financial exchanges work. Unless you do the work of buying and selling cryptocurrency directly from and to other holders yourself, or transfer it into your own crypto wallet, your assets only exist within the exchange’s own systems.
Oh shit, that’s why they say don’t hold your assets there. Interesting.
As is your traditional bank…
Seems that way. Kinda wild to have 2000 bitcoins floating around. Not sure I really understand whats going through a crypto enthusiasts brain to know this is still happening and still have any faith in the system whatsoever. Maybe the ledger is fine, but whatever this is, its not what its being presented as.