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One Hidden Lesson To Learn From - Trust No One: The Hunt For The Crypto King by mistakili

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hive-167922 · @mistakili ·
$39.36
One Hidden Lesson To Learn From - Trust No One: The Hunt For The Crypto King
![95CB0BC8-DB0E-4036-87CC-A99BBDF49ABC.jpeg](https://images.hive.blog/DQmVTGwKjD5ZXYLRjfw9C4zTeU3mEicEAdTtyde9BfLcfYY/95CB0BC8-DB0E-4036-87CC-A99BBDF49ABC.jpeg)
[Source](https://m.imdb.com/title/tt15479902/?ref_=tt_mv_close)

Hi guys, I took some time out to relax over the weekend to watch the documentary/movie that has become so popular within the Crypto sphere
 titled *Trust No One: The Hunt For The Crypto King*, it’s about an exchange in particular that rugged it’s users, QuadrigaCX, people have been talking about it. 

[The story has been well summarized in this post](https://hive.blog/hive-167922/@geekgirl/trust-no-one-the-hunt-for-the-crypto-king), if you’ll like to check it out to catch the full context of what I’m on about. 

While there were many bogus lessons to pick up from the movie, there were also subtle ones. 

So there was this guy in the movie who wanted to use the QuadrigaCX exchange and at his first attempt, he sent in all his funds and as you might have guessed, he lost all of it. 

Wake up call guys, do not send all your funds in the first attempt! Break it into chunks not just to avoid mistakes but to minimize the risk of making them. 

The guy wanted to move about $400k into Bitcoin, and he did it in one transaction, he then realized that his money got stuck within the system and couldn’t withdraw it. 

If he had divided his transaction into chunks, he wouldn’t have lost all his money. It was really a pathetic situation. 

I can remember the first time I mistakenly sent funds to a wrong address, it was gut wrenching, I hated myself and beat myself up for it for a long time, now I’ve learnt my lesson, knowing I might have jittery fingers, I do a test send first, then do the remaining, sometimes I break them into chunks if I’m doing a large send just to be on the safe side. 

It’s better to be safe and slow than fast and sorry. 

Have you seen the movie? What do you think about the guy? Do you have jittery fingers sometimes like me? 

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vote details (101)
@idiosyncratic1 · 
> Trust No One: The Hunt For The Crypto King, it’s about an exchange in particular that rugged it’s users, QuadrigaCX, people have been talking about it.

I tried to watch the movie but I believe we already EXPERIENCED even worst things in our crypto journey for years. That's why I stopped watching after 40-45 mins 😅

Our losses can be another movie 😂

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@mistakili · 
Loool that’s why I also think Steem’s story will be even more interesting on tv. I hope it’s made 

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@iskafan · 
I have to see this movie.... I have a feeling there will be more lessons embedded in it. 

I feel bad for that guy though.... He really shouldn't have sent everything on first attempt....

I hope we all learn from his mistake. 

How's the celebration going @mistakili ? ☺️
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@mistakili · 
Ah it was painful, funny thing is that the guy was still having hopes of getting his money back for up to a whole year, you should watch the movie. I don’t want to give you any more spoilers. 

Mehnnn another normal day for me, I was just going to cook noodles then I  perceived the aroma of my Neighbors jollof rice and fried chicken, then I remembered it was Easter and went to buy rice and chicken from chicken republic. Happy Easter 🐣  😊 

How is Easter at your end
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@iskafan · 
no no don't give me spoilers please 🥺🤲

Hehehe... I can relate.... Enjoy your meal. 

Easter is good here, I got up early, prepared Jollof rice, ate and had some rest. 

The Son of God is risen. Hallelujah. 💞💞
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@nonsowrites · 
Lol, tech bro is being rugged by another tech bro. I don't think I have it in me to transfer all my money at once. It is just too reckless. I can't imagine a situation that can make me attempt such. But we should consider that the exchange was reputable like the likes of binance and co. I understand why people trust these exchanges. I would rather keep that huge some in a cold wallet. I don't know if this technology was available then. My guess is that it wasn't and that is why people opted for exchanges. Plus one could only convert fiat to crypto via centralised exchanges. So my take has always been to eliminate the middle man and opt for peer-to-peer transaction via a decentralised protocol 

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@mistakili · 
>  So my take has always been to eliminate the middle man and opt for peer-to-peer transaction via a decentralised protocol

This is why Thorchain exist and why I’m very bullish on it. Just look at how these centralized entities are crumbling under the whims of regulators. Some even go as far as blacklisting accounts. Crazy o.

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@teesart · (edited)
RE: One Hidden Lesson To Learn From - Trust No One: The Hunt For The Crypto King
Yeah, I agree sending funds in a large amount like that was one of the lessons, although I've personally never experienced that but I understand how hopeless the situation is as the funds can't be gotten back unless in rare cases. My biggest lesson although is to not keep funds on an exchange. Maybe it's because I once had similar experience when Cryptopia claimed they got hacked and never came back. I just don't buy the idea of leaving crypto on an exchange for more than a couple minutes. The investor who sent his large amount of money to Quadriga was just unlucky. It would have been a different story if he had sent in bits. 
However, I can't imagine how others who have trusted the exchange and used it for years would feel. 
"Not Your Keys, Not Your coins"
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@mistakili · 
Yeah, not your keys not your crypto. Custodial wallets and exchanges are a big no no. 

> The investor who sent his large amount of money to Quadriga was just unlucky. It would have been a different story if he had sent in bits

My point exactly. 

It’s sad that we had to use their experience to learn our lessons. The real fuck up is being aware of these pitfalls and still falling in 

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@typebox · 
*Wake up call guys, do not send all your funds in the first attempt! Break it into chunks not just to avoid mistakes but to minimize the risk of making them.* — golden lesson ! No one will like to be in that young man’s shoes ..
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@mistakili · 
I fit faint
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