PIVX wallet/desktop wallets

>>1989383
Why are you more sketched out keeping your PIVX in the wallet made by the people who made PIVX than you are of keeping it on a pajeet exchange to get stolen

>>1989383
This is such a stupid question that I refuse to believe you're asking it seriously.
This absolutely must be bait.

>>1989387
>"like, what if this thing glitches out? how does it actually store my pivx?"
>"I'm so afraid of this program fucking up and running into compatibility issues and shit that I wonder if it's even worth it to put my pivx on it. "


?


>>1989391
Not bait, I'm just a newbie. Gotta start somewhere

good grief no ones gonna throw me a bone here? im legit trying to hop on team meme scheme and pimp that pivx

>>1989434
>>1989396
You've obviously done not even the slightest bit of research on crypto if you don't understand how wallets work.

>>1989443
I understand that your wallet has an address and that it is associated with a digital ledger (blockchain) and that's about as much as I thought I needed to know... didn't realize I needed to understand the detailed technical intricacies of how the sausage is made to use a wallet app

besides i know how to use it, I just want to know how it's more secure and how I can trust it not to fuck up down the road, especially if I put it on a hard drive and don't touch it for years

>>1989463
Just make sure you have backups of your address and key. And make backups of wallet.dat

>>1989468
this is what everyone says, but I want to know why. What is stored on wallet.dat and how could it be used to restore my pivx should the program fuck up?

>>1989463
>I just want to know how it's more secure
Because you control it.
You have no idea what the private key is for any of your exchange addresses because those addresses are all the property of the exchange.

>>1989490
ah I see, so all someone has to do is hack the private keys of an exchange and voila, there in there diddlin around with your bitbeans?

>>1989547
Yeah, or the exchange could just take all the keys and fuck off like Mt Gox.

>>1989550
that could only happen if the lead dev is anon
..wait...

>>1989585
He could just move somewhere with no extradition.
He'd have literally tens of millions of dollars in untraceable monopoly money.

Do a dry run wallet recovery on another computer if your a newb. Will save you a lot of stress down the road. Do it before sending the whole stash.

>>1989587
>>1989585
have been reading up on Mt Gox, they basically just declared bankruptcy after "misplacing" BTC which I think was pretty brilliant if you ask me


it's like "hey come use our exchange and support the decentralization and deregulation of of digital currency" then they turn around and jack it all and first thing they do is turn to legislation that is designed solely for fiat currency

>>1989622
Bankruptcy has nothing to do with currency.
There's a misconception that crypto is incompatible with ordinary banking and finance, but that's not at all true. The blockchain is essentially just a way to make cash transactions without physical cash. If they wanted to, banks could easily apply things like fractional reserve banking to Bitcoin.