Mishaboar Profile picture
Dec 29 6 tweets 3 min read
A reminder to withdraw your #Dogecoin from crypto exchanges, shibes - a good way to end the year.

Take the time to learn to use a non-custodial wallet, make tests with small amounts, create backups, then withdraw.

Your crypto is not safe on any exchange.

1/n Art by @italia_dogecoin! Mishaboar holding a wonderful shiba
What we saw happening during the past year is just a confirmation of what we already knew.

Remember, #Dogecoin: exchanges are businesses, and they are not bound to act in your best interests.

Their focus: attract as many customers and hold onto their liquidity.

2/n
Many of us wrote dozens of threads warning users against holding their crypto on exchanges like Voyager, FTX, Gemini, Binance, Coinbase - these threads were never that popular, and many users of these exchanges acted as staunch defenders of their platform choice.

3/n
The business model of all exchanges involves obscurity - lack of transparency is perfectly intentional.

It has allowed them to thrive and hide the risk their customers are exposed to. Sometimes risk is hidden, other times written in terms of services nobody reads.

4/n
Remember #Dogecoin. You are a gateway to crypto for many.

If crypto wants to survive, everybody advocating for it will need to fight this tendency for obscurity and warn newbies about it.

Always fight for transparency, always ask questions, help highlighting risk.

5/5

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More from @mishaboar

Dec 12, 2021
Excitement and sentiment are everything in this speculative market, and they are also the cause of the "cycles" we see among retail investors.

Market cap is really only the last price somebody was willing to pay for an asset * total theoretical supply.

#Doge
The aim of real FUD spread around #Dogecoin throughout the year (it has no devs; it has no future; it must be capped; a whale holds 30% of the supply) is exactly aimed at killing sentiment and making people sell and lose interest, because they think there is no hope.
Alongside FUD, institutional investors and speculators driving the price, marketing ploys by exchanges pushing towards other tokens, and in general any attempt to gain control of the liquidity are aimed at manipulating the sentiment and interest of the public. #Doge
Read 4 tweets
Dec 11, 2021
A good review from NextAdvisor/@TIME about why Binance.Us, while in theory more compliant with U.S. regulators, is not a great option as an exchange.

Their point about security is spot-on, especially after the recent wallet disaster. #DOGE

time.com/nextadvisor/in…
We talked a lot about why holding on ANY exchange should not be done.

The recent wallet incident anyhow, also through the official press release released by #Binance, points at the fact their infrastructure was obsolete and/or not maintained with the needed care. #DOGE
The first hint is that they had been using Dogecoin Core 1.14.0, a version released in 2019 (2 years and a half ago). This is prehistoric by cryptocurrency standards.

The second hint is that they seem to have ignored recommendations provided to them by the #Dogecoin devs.
Read 6 tweets
Dec 11, 2021
Over the past years I have come across several reports of users losing all their funds because they are using "online" wallets.

Freewallet is one of those mentioned more often, with users having lost huge amounts of #Dogecoin on it.

NEVER hold your #Doge in online wallets!
This applies also to more "legit" websites like dogechain.info (the .com domain is a scam we have been fighting earlier this year).

Even on legit websites users get locked out, lose 2FA authentication, and cannot gain access to the #Doge they are holding.
In general, follow this rule: your seed phrase and/or private key should be NOWHERE else but in your own private wallet and offline backups.

Remember:

Seed phrases and private keys must NOT be shared.

Services hosting these "online" for you must be avoided, always. #Dogecoin
Read 6 tweets
Dec 11, 2021
Not only #Bitcoin, but also #Litecoin and #Dogecoin have now recovered the lost hash rate after the China mining ban.

This means the network is more secure than in the past months, making a 51% attack much more unlikely.

A higher hash rate means a healthier network.
You can also check the thread below by Charlie Lee, the creator of Litecoin, explaining how #Litecoin/#Dogecoin "merged" mining works and benefits both blockchains.

Here you can see the comparison between Litecoin and #Dogecoin hashrate over the past years.

The dotted line indicates the mining profitability. Thanks to its increased price (compared to last year) Dogecoin is quite profitable for miners.

bitinfocharts.com/comparison/has…
Read 4 tweets
Dec 10, 2021
As per their official press release, because of mishandling of the upgrade of their wallets, in November, @binance sent out duplicates of old transactions from 2019 to 1634 users.

These accounts have been marked as in "arrears" and asked to return the extra $Doge.
The issue was caused by the fact Binance was holding their Doge in a very old #Dogecoin Core version (1.14.0!) when they upgraded to 1.14.5.

In 2019, they had resent stuck transactions without following the proper protocol. More on this:

The changes introduced in Dogecoin 1.14.4-1.14.5 caused those old transactions to become unstuck and being sent over few minutes to 1600+ users, to wallet addresses many of those have no longer access to.

As a response, Binance shut everything down at once. For 3+ weeks.
Read 10 tweets
Dec 10, 2021
For #Dogecoin holders on Binance, and all Indian shibes on @WazirXIndia that have been anxiously waiting to withdraw through the bridge with Binance:

Withdrawals are open right now on Binance. Not sure for how long, so do give it a try now before this goes down again. Image
As we discussed in the past, Binance, through its CEO, has followed a clear strategy aiming at de-legitimizing #Dogecoin throughout this year.

@cz_binance made several disparaging remarks aimed at spreading FUD and bringing #Dogecoin down; stuff like:

The gravity of remarks like that one (on which he then doubled down) is that anybody into crypto for more than a few months knew that "whale" was an exchange. The patterns were unmistakable.

The fact the CEO of an exchange pushed this rhetoric is disquieting and manipulative.
Read 8 tweets

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