Crypto exchange nightmare

in #blog8 years ago (edited)

So last night I was so excited to be setting up my coinomi wallet. I had been waiting about 2 days now to have the time to get it done. I got everything set up and I started to transfer my first coin which was digibytes. I was a little hesitant at first so I thought I would just send a few coins to see how it works. The coins came through no problem really quick so I went ahead and sent all the rest of them. I moved on to the next coin and this is where my nightmare started. The problem was I was not paying enough attention. I wanted to transfer all of my cannabis coin and I thought there was a cannabis wallet. It is actually a cannacoin wallet. They look a little alike. Anyway instead of sending one coin or two coins at first like I did the digibyte I decided to send it all because my confidence was high that it was working. 20 minutes later I realized my coins were not there. I thought what could have happened. I checked the address over and over it was the right address that's when I realized it was not the right coin. I'm a diat Lee sent a email to bittrex looking for any help with this predicament I got myself into. I have still not received any reply to my email. Which in itself is pretty sad. there is a lot of money in these exchanges and they don't even answer an email. that is kind of fishy. So I tried to contact coinomi. Again no response. The whole thing has now struck me in a bad way. Realizing I have a little over $20,000 in my portfolio a lot of it is on my external wallet which now I am so glad I bought. Crypto Hardware wallet is the one I went with. I started thinking about how many people probably do the same thing that I just did and where does all that money go ?where are the coins? I believe with all the technology involved in cryptocurrencies it would not be too much to ask to have your coins returned to you if they are sent to a wrong address by mistake. I believe this is one of the reasons why a lot of people will not get into cryptocurrencies and believe it is all a scam? It is one thing to lose your money because the market is dropping and you choose to sell your coins instead of waiting for it to go back up. but it is entirely a different thing if you send Bitcoin to an address that is actually say Litecoin and instead of that coin coming back to you with a undelivered note it just disappears. I do not believe they just disappear by the way I believe the exchange still has them or coinomi does. Either way the whole thing is pretty sad when you think about it it was $200 worth of coins that I just gave away truly by accident. One of the even sadder things is this has changed my mind on regulations. I believe if there was regulations to the exchanges these things would not happen. They would magically find a way to be able to return coins that are not delivered to the right wallet. I guess long story even longer the moral is be very careful. double and triple check everything. do not assume that you have the right coin because they look the same. These exchanges are making a killing off of us but we do not need to just freely hand money over to them. Also it seems they are not willing to help in any way even a letter stating that they can't help would have still shown that they tried. As far as we know this could be some guy in his garage with a computer claiming he's an exchange and just stealing money left and right. I take the blame for what I did but again if it ever comes to a vote I will be voting for regulations on the exchanges. That does not mean that I believe crytos should be centralized I still believe in a decentralized currency. but they sure make it hard to continue that belief. when the lawlessness is happening you always want law. Be careful everyone and good luck.