Bitcoin Holders Protection | Bitcointalksearch.org

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: yazher on October 06, 2019, 08:50:05 AM

This is recommended for the investors who are not able to protect themselves from the hackers cause they only have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

Technically, the cryptocurrencies particularly bitcoin is created mainly as a decentralized platform. Wherein, no interference of banks are need to provide support and security for hodlers. We just need to become personally responsible for our transaction and make it clean that each and every transaction made by us is legal. In this case, as we should also consider providing another computer or storage that is not connected to our personal computer to avoid being breached. Our security will start on our self, and we should always be aware of that.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: YuginKadoya on October 06, 2019, 09:23:50 AM

In my opinion, No one is really safe when you hold Bitcoin it is always prone to hackers and fraudulent things that are online, I am not judging their service because I don't have any experience in using it, but if it is online it is always prone in getting hacked, if you would think about exchange getting rob by hackers, All services online can become victims and I think there is no 100% perfect technology there will always this flaw that can be expose. I think there is cold storage that is 100% offline that is really safe for storing cryptocurrency.

Cold storage is a great option which some exchanges are using to protect their digital assets and those entrusted to them and I think so far they are the safest platforms and as for others they should start praying that hackers will not be interested with what they are holding otherwise it can be a hell of an experience and can even put the death certificate into one's business. This is one of the biggest challenge I see in the world of cryptocurrency. Now, if big banks can be subjected to successful hacking, much more with small platforms who can not afford the highest and the most effective security technology. No wonder there are some people who are staying away from cryptocurrency as they are aware of the risks including getting hacked. For individuals, the best way is to use hardware wallets just don't forget the keys.

Quote from: kryptqnick on October 19, 2019, 01:51:03 PM

If people need protection from volatility, there are futures contracts exactly for that. They are if you are confident about a certain deal, and you can win or lose depending on what really happens at that point in the future, but at least you know what to expect. Interest rates are boring anyway, IMO. We have some "incentives" to hold money in the banks in my country, but this percentage is miserable. If people need protection from hacks, then they need insurances for their bitcoins. Some insurance companies are now offering deals to insure cryptocurrencies, but this market niche is still fairly empty, although I think it won't be so for long.

I read somewhere that one big beneficiaries with hacking and ransomware are the insurance companies providing their services to different platforms who are looking for some protection and assurance that if something can happen they can still recoup even part of what they lost. Actually, this is going to be a booming business and the market can be big. Just another business is born because of this problem.

diahsw

full member

Activity: 756

Merit: 105

for this discussion, I think it really needs each individual to see and pay attention to how the results are, because bitcoin protection will be very useful for those of us who have several in the wallet. I also think that the advice of friends here is very helpful to be able to protect my coins here ...

asus09

sr. member

Activity: 1344

Merit: 270

Quote from: Artemis3 on October 03, 2019, 01:15:08 PM

Can you protect a piece of paper with 12 words written to it better than a third party entity yes or no? If yes, you don't need any other (State/Private) protection gimmicks.

If no, go place it in a bank vault and pay the monthly fee to have it secured. At least you are forcing that bank to play by full reserve rules, without they even knowing it.

Banks by themselves are not evil, its the current version of banking, under fractional reserve that is more akin to a ponzi scheme that is.

Sve with the bank and pay monthly payment fee I think is better than we hold in our wallet, saving in the bank more safety than we hold or save our bitcoin in wallet, by saving in wallet we faced with thousand kind to stole our balance where many hacker try to get access to our bitcoin wallet, its not worry to pay monthly payment fee if our bitcoin keep save for long time.

rodel caling

full member

Activity: 952

Merit: 104

Quote from: bounceback on October 19, 2019, 07:58:47 AM

actually this is an interesting offer to invest our money with a pretty good commission but I am still hesitant to invest there because this is a new project to run especially they offer quite a lot of commissions, but I prefer investing with bitcoin even though we know bitcoin is not so safe but I'm sure about bitcoin for our future.

Exactly what do you talking about bitcoin, but investing money offering a big commission I advise learn well to avoid a victim of scammers. Yeah bitcoin is a risky investment but of course people knows the capability of bitcoin and it is proven way back in 2017 the all time high history of bitcoin a lot of people are getting benefit on that time to get better profits so nothing doubt holding bitcoin into safe wallet is profitable than to use bank or anything.

Wysi

sr. member

Activity: 1638

Merit: 261

Quote from: bounceback on October 19, 2019, 07:58:47 AM

actually this is an interesting offer to invest our money with a pretty good commission but I am still hesitant to invest there because this is a new project to run especially they offer quite a lot of commissions, but I prefer investing with bitcoin even though we know bitcoin is not so safe but I'm sure about bitcoin for our future.

Bang on, I am also struck in these cross road to believe it or not, I mean this looks so attractive with a reasonable commission amount but nothing compared to the profits which can be earned through bitcoin within a fraction of time during Bitcoin's heyday. I would prefer to stick by loyalty to bitcoin and other altcoins like ETH and BNB.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: kryptqnick on October 19, 2019, 01:51:03 PM

If people need protection from volatility, there are futures contracts exactly for that. They are if you are confident about a certain deal, and you can win or lose depending on what really happens at that point in the future, but at least you know what to expect.

That's certainly true, but what we don't have is a regulated platform at which people can safely do so. There is CME, but the minimum order is a 5BTC contract, and you don't actually get any Bitcoin at all since everything is cash settled. This is exactly why I like that we have a platform such as Bakkt now, where people as time goes by can enter very easily and they can get actual Bitcoin delivered.

1BTC contracts may still be quite steep for a lot of people, but at least it provides some variety and much needed legal recognition, and who knows, if the demand really picks up, Bakkt may introduce smaller contract sizes.

kryptqnick

legendary

Activity: 3332

Merit: 1404

Join the world-leading crypto sportsbook NOW!

Quote from: coinward on October 03, 2019, 01:03:24 PM

We are now seeing the FDIC extend coverage to non-banks that do not have the intention to ever become a bank. What cannot go on forever won't.

My hypothesis is that a primary hurdle that keeps people from seeing bitcoin as an option for their savings strategy is the learning curve with safe storage combined with a lack of consumer protection offerings for those that are willing to sacrifice their financial liberties for custodial security. This market segment includes early majority and late majority adopters. I understand Bitgo has tackled this problem set to some effect and seems established as an industry leader. Some other interesting teams are looking to nail down custody as a service, so I feel there is some validation here.

In searching for solutions that might convince people that see this as a fatal flaw for Bitcoin, I thought about dao projects that we've seen rolled out with varying levels of success and blazing flames of failure.

If people need protection from volatility, there are futures contracts exactly for that. They are if you are confident about a certain deal, and you can win or lose depending on what really happens at that point in the future, but at least you know what to expect. Interest rates are boring anyway, IMO. We have some "incentives" to hold money in the banks in my country, but this percentage is miserable. If people need protection from hacks, then they need insurances for their bitcoins. Some insurance companies are now offering deals to insure cryptocurrencies, but this market niche is still fairly empty, although I think it won't be so for long.

doomistake

hero member

Activity: 1400

Merit: 571

Quote from: ?? on ??

Bitcoin holders unfortunately will never be completely safe

Fiat holders will never be completely safe with the bank too, they are just thinking its safe for their own peace of mind because they don't have any options left where they are going to store their wealth. Furthermore, it is much easier to everybody to use something that has many reviews, I mean if you are buying a dress, you are going to ask first if it is their best seller, that goes the same with the people to the bank, since many are using it, people are easily persuaded by the majority.

bounceback

sr. member

Activity: 2086

Merit: 283

Vave.com - Crypto Casino

actually this is an interesting offer to invest our money with a pretty good commission but I am still hesitant to invest there because this is a new project to run especially they offer quite a lot of commissions, but I prefer investing with bitcoin even though we know bitcoin is not so safe but I'm sure about bitcoin for our future.

Astvile

sr. member

Activity: 1484

Merit: 276

Quote from: yazher on October 06, 2019, 08:50:05 AM

This is recommended for the investors who are not able to protect themselves from the hackers cause they only have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

You can't call an investor an investor if they can't protect themselves especially their funds on their own and an investor with little knowledge of what he is investing in? the blockchain technology?.
Government services aren't needed and necessary for bitcoin wallets, you will always rely on your own actions, not government protection. Even the government gets hijacked sometimes.

jarhed

sr. member

Activity: 672

Merit: 254

Quote from: AicecreaME on October 09, 2019, 12:24:04 PM

Quote from: target on October 04, 2019, 11:03:55 AM

BTC Wallet itself act as a bank why do you need to send it to them for protection. You'd be more at ease when you know no corrupt government agencies will ask you to pay for depositing your own money. And they allow mobile app for stock trading to take part of thier scheme. Its more like FDI-see you later money!

I'd rather trust a hardware wallet for my bitcoins and altcoins than saving it on a bank account, I am not that suicidal. This bearish market is scary enough and I don't want to add another problem to my life right now. I'm going to add that we don't need no Government for protecting our bitcoins, we, ourselves are the one who is responsible on doing such a bitcoin enthusiast thing, if they don't trust, well I don't trust them too.

Then it’s definitely better to keep Bitcoins on a hardware wallet, not store or trade on the exchange. It is better to make money and invest their free amount in Bitcoin.

AicecreaME

sr. member

Activity: 2436

Merit: 455

Quote from: target on October 04, 2019, 11:03:55 AM

BTC Wallet itself act as a bank why do you need to send it to them for protection. You'd be more at ease when you know no corrupt government agencies will ask you to pay for depositing your own money. And they allow mobile app for stock trading to take part of thier scheme. Its more like FDI-see you later money!

I'd rather trust a hardware wallet for my bitcoins and altcoins than saving it on a bank account, I am not that suicidal. This bearish market is scary enough and I don't want to add another problem to my life right now. I'm going to add that we don't need no Government for protecting our bitcoins, we, ourselves are the one who is responsible on doing such a bitcoin enthusiast thing, if they don't trust, well I don't trust them too.

Baby Dragon

sr. member

Activity: 896

Merit: 272

OWNR - Store all crypto in one app.

Quote from: yazher on October 06, 2019, 08:50:05 AM

This is recommended for the investors who are not able to protect themselves from the hackers cause they only have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

Indeed like for example newbies, most of them are still confused and doesn't have enough understanding about safety and security which makes it more bad because as we can see it is definitely speculative. Its the reason why many of them had some bad experiences because of hackers who easily access and take their assets away, its helpful for each and everyone of us who badly want to ensure that our assets is safe.

YuginKadoya

legendary

Activity: 3038

Merit: 1169

Quote from: yazher on October 06, 2019, 08:50:05 AM

This is recommended for the investors who are not able to protect themselves from the hackers cause they only have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

In my opinion, No one is really safe when you hold Bitcoin it is always prone to hackers and fraudulent things that are online, I am not judging their service because I don't have any experience in using it, but if it is online it is always prone in getting hacked, if you would think about exchange getting rob by hackers, All services online can become victims and I think there is no 100% perfect technology there will always this flaw that can be expose.

I think there is cold storage that is 100% offline that is really safe for storing cryptocurrency.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

This is recommended for the investors who are not able to protect themselves from the hackers cause they only have a little knowledge about the blockchain technology.
this service is a must for them. actually this is a good service to make it easy for them to secure their crypto assets. As for the people who are knowledgeable enough to protect their crypto assets, this service will no longer needed by them.

uray

hero member

Activity: 1400

Merit: 505

Quote from: coinward on October 03, 2019, 01:03:24 PM

What are the other solutions you've turned to or are excited about?

You cannot trust a third person to protect your coins and the safest option is to have complete authority of your coin where you hold the private key, the concept of bitcoin is to have complete control over your financials without the help of a third person to safe guard your wealth and if you are not capable enough to safe guard and look for a third person to take care of that basic thing, then you are not capable to hold bitcoin.

AverageGlabella

legendary

Activity: 1232

Merit: 1080

Quote from: ?? on ??

Bitcoin holders unfortunately will never be completely safe

Yes they will. You're your own protection and you make it as good or bad at your discretion. You can make your money even more secure than banks if you would like too because there are multiple ways a bank can lose money. Banks invest your money and have the potential to lose it this has caused banks in the past to go bankrupt. The banks can be robbed and the key difference between you being robbed and the bank is people know that banks have money but you can keep the fact that you own Bitcoin a secret.

legok

newbie

Activity: 230

Merit: 0

totally agree...!!! it is a step that must be realized for all bitcoin holders in order to get security and have guarantees from hackers and bitcoin thieves .... it must also be addressed by the legal system in force in each country, because each country has its own legal policies .. Even many countries do not have a legal umbrella policy for bitcoin holders.

fiulpro

hero member

Activity: 1890

Merit: 831

I don't think it would be efficient for a company to offer interest for Bitcoins , holding Bitcoins might cause a great deal of trouble for the so call Bitcoins banks since they would actually be in losses 90% of the time , everyone knows that the highs are not that frequent therefore I think it won't be a good thing , maybe these things are just a scam and nothing else , one should refrain from adding their money in accounts like these , well I am myself interested to know how this interest system works ..

Topic: Bitcoin Holders Protection (Read 420 times)