# Cons:**1- The trilemma hasn't been fully solved yet.**This is probably the biggest one. More so than having some scams making their own shitcoins. For those who aren't familiar with this, the trilemma means the dilemma of having a system that's secure enough, while being decentralized enough, and having enough scalability, so that none of those points are points of weakness.Bitcoin, for instance, scores very high on security, just high enough on decentralization, but can't scale without L2s. And right now, there's no crypto that scores high on all 3. There are promising projects that score high on maybe two, but just need more nodes and more decentralization. If the trilemma isn't solved, it doesn't necessarily make crypto useless. It will just make it only specialized on one or two aspect, and not a very complete technology, and maybe not as reliable. ​**2- Scams.** Wherever there's money, and also technology that gives some kind of edge or tool that gives some level of power, there will always be scammers and criminals who will want to take advantage of it too.So it's not something that will ever go away. Just like the internet has been also a powerful tool that can also empower criminals and scammers, and can be tied to money or access to it.There will always be an armed race against scammers. But the crypto space could do a little more to target scammers, and create more security layers for users.As much of a Fort Knox blockchains have been, what's happening outside of it in the space, has been pretty flimsy. ​**3- Volatility.**This is not really an issue with the tech itself. But it's probably a major issue for people entering the space, and even people using it just for the features and tech. It's not very helpful as a currency or even a functional token, if there's too much fluctuation.But many people are still using it for speculation, and can get burned with the volatility. ​# Pros:​**1- Decentralization, control, security, and sovereignty.** These are some of the core benefits that I really like in crypto, and that I hope projects will try to stick to. There's a lot of projects that stray away form that, but still enough projects that target those values. There is still more development needed in this area, but crypto already stands out in what it's been able to achieve.And it's hard to deny the benefits that blockchain technology can provide in those aspects. ​**2- A door to a world of solutions.** It's really interesting to see how big of a door has been opened to an entire world of solutions, to creating decentralization, security, efficiency, transparency, etc... to a variety of solutions and technologies, expanding far beyond just peer to peer payment.One of the big explosions in tech solution came from smart contracts. Being able to put code and executable programs on the blockchain. But we've also seen with utility tokens and chains, how the space has been able to expand solutions into oracles, indexing, logistics, web 3.0, databases, cloud computing, and is even being experimented on this sub with a social media token or SocialFi. ​**3- Ease of use.**This one used to be a major con. For the first time, I'm able to now put it as a pro, thanks to the recent development and progress in this space.It used to be a little complicated for the average person to use, trade, buy, and secure. At least not to the level where your grandpa could use it.But now, they've dramatically simplified a lot of the apps and steps compared to the last several years.There are still the more advanced features that still remain complicated, like running your own node, bridging, participating in liquidity pools, etc...But anyone who knows how to use a smart phone, will have no issue buying crypto, or using it in a store, and use all the basic features, thanks to the new simplified apps. On many of the simplified apps, buying and selling is just a matter of entering how much you want, and hitting the buy or sell button.Hot wallets are much simpler to setup now. And there's even semi self custody wallets on Coinbase, for those not ready to venture into cold wallet full self custody.Using it in a store is much easier with simplified apps like Flexa. And they even have crypto cards where you can use crypto just like you would a credit card, with just a tap of the card, for those who really can't learn anything beyond a credit card.To the point where even my grandpa who can't figure out how to use self checkout lines, has figured out now how to jump on crypto, and can use all the basic features. Granted, I still wouldn't want him to go into the more advanced features. Now the tools exist to make it simple for the average person, and even for grandpa and grandma. #TradingAdvice #etf #scammers. $BTC $BNB

India’s notorious cryptocurrency hacker Srikrishna Ramesh aka Sriki moved $1.2 million worth of Bitcoin from inside a prison. Sriki was arrested by the Special Investigation Team (SIT) of the Criminal Investigation Department in 2020 for hacking Bitcoin and other cryptocurrencies worth millions. The scammer was first arrested by the Central Crime Branch (CCB) for procuring drugs through the DarkNet. However, in the course of the investigation, it was revealed that he was also involved in cryptocurrency scams.Nonetheless, despite being in a quarantine prison in the southern city of Bengaluru, Sriki managed to move $1.2 million worth of Bitcoin. It is reported that Sriki bribed a police constable to bring him a laptop inside his cell. The constable brought in a laptop with internet connectivity and the scammer moved Bitcoin worth $1.2 million at the behest of some influential persons. He further laundered the money in prison and the ordeal was completed in 20 minutes.In 20 minutes, he transferred stolen Bitcoins to different wallet addresses. It is suspected that through these wallets, money may have been laundered into India through a secret yet unidentified network. The SIT is now investigating the matter and is inspecting the wallets for further details.Bitcoin Moved Inside a Prison in 20 MinutesThe crime at the prison occurred in 2020-2021 months after he was imprisoned for Bitcoin and drug scams. An investigation is now underway and authorities are questioning Sriki about his connections.“Sriki was always kept inside a quarantine cell and many were contacting him. One day, a constable was asked to smuggle a laptop inside. On the day, when some Bitcoins worth ₹10 crore ($1.2 million) were moved, the laptop was with Sriki inside the cell for about 20-22 minutes and it was brought out later,” said a source to The Hindu news outlet.#BTC #scammers.

In the world of cryptocurrency, security is paramount. As the value of digital assets continues to grow, so do the threats from hackers and #scammers. One of the most effective ways to protect your cryptocurrency holdings is by using a hardware wallet. In this comprehensive guide, we'll delve into what hardware wallets are, how they work, and why they are a must-have for any serious cryptocurrency enthusiast.
What Is a Hardware Wallet?Store your crypto with your private keys so that you are the one with accessibility of that crypto.How Does a Hardware Wallet Work?Generating and Storing Private KeysSetting Up Your Hardware WalletMaking TransactionsTypes of Hardware WalletsUSB-Based Hardware WalletsSmartcard Hardware WalletsPaper Wallets (for cold storage)The Importance of Private KeysPrivate and Public KeysKeeping Your Private Keys SecureTransacting with a Hardware WalletSending and Receiving CryptocurrencyConfirming Transactions on the DeviceAdditional Security FeaturesMulti-Signature SupportBuilt-in Displays and ButtonsBackup and Recovery OptionsCommon Mistakes to AvoidSharing Private KeysFalling for Phishing Scams
Peace of Mind with Hardware Wallets:
A hardware wallet is not just a tool; it's your fortress against the ever-present threats in the cryptocurrency world. By understanding how hardware wallets work and following best practices for private key security, you can safeguard your
effectively.
In a landscape where online threats and scams are constantly evolving, hardware wallets offer the assurance and peace of mind you need to navigate the exciting world of cryptocurrency. Don't wait until it's too late – invest in the security of your digital wealth today with a trusted hardware wallet.
#hardwarewallets #security #BTCMove $BTC

The fake Skype application is being heavily distributed on the Chinese internet, the SlowMist Security Team has learned.As many international marketplaces are inaccessible within China due to local regulations, bad actors are actively exploiting this gap, flooding the market with phishing applications targeting crypto investors.According to a blockchain security firm SlowMist, a group of Chinese scammers has recently started distributing a fake version of Skype — version 8.87.0.403 — for Android devices among multiple local marketplaces, such as 51pgzs, siyuetian, and others. They lure victims to believe they downloaded a legit version of the video chat application.Fake Skype application for Android on a Chinese marketplace | Source: MediumOnce the malicious application is installed, it obtains images from various directories on the Android phone and monitors in real-time for any new images. All the images stored on the victim’s device are then uploaded to the phishing gang’s backend interface.Analysts at SlowMist also learned that the gang behind the fake Skype application also targeted users in 2022 with its scam version of Binance, pointing out that both malicious applications have similar backend domain “bn-download3[dot]com.”“Further analysis revealed that ‘bn-download[number]’ is a series of fake domains used by this phishing gang specifically for Binance phishing, indicating that this gang is a repeat offender targeting Web3 specifically.”SlowMistIn addition to images, the malicious application sends data to bad actors’ backend, such as device information, user ID, and phone number. To make things worse, the fake Skype even monitors incoming and outgoing messages to see if they include TRON or Ethereum-type address format strings to replace them with addresses pre-made by the scammers automatically.A USDT wallet on TRON belonging to a malicious Chinese gang | Source: MediumSlowMist found out that the TRON chain address, which belongs to the scammers, had received nearly $193,000 in Tether (USDT) with 110 transactions, noting that funds are still coming in as the most recent transaction was on Nov 8, 2023. In general, most of the stolen funds were laundered through BitKeep’s Swap service, with the transaction fees covered by a user registered on the OKX crypto exchange, SlowMist emphasized#scammers.