Bitcoin portrays less risk of financial transaction than other investment system

Mauser

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

Have an Insight if aside being scammed which is common in all financial systems and the inefficient exposure of a Bitcoin investor which is also a threat and common to some other influential sector of investors who loose guards from keeping their financial portfolios private to the public, what other risk is involved in the Bitcoin transactions?

Imagine the other business sectors especially those that has to do with a physical negotiation before building trusts for transactions. 😏

I agree with you that bitcoin transaction are quite safe and the anonymity involved offers a lot of benefits over the traditional financial system. But I am not sure if it's really better than cash transactions in every aspect. For example, cash transaction can't be tracked. Once you hand over the money it's gone, the government has no form of following that money and making sure taxes are being paid. Which is why used car sales people like to deal to in cash so much. Bitcoin would be an alternative here, but the coins can be tracked. And once the coins are exchanged for fiat again are transfered onto our bank account the government will know too. Another issue with crypto transactions are a sending it to the wrong wallet. There is no way for us to get our coins back after making such a big mistake. With banking it happens too that people send money to the wrong account, but here the bank can intervene and get our money back.

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Quote from: Queentoshi on February 27, 2024, 05:11:53 PM

Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

Although the risk involved in investing in Bitcoin may be different from other investments it does not mean that it is free from risk. The risk with investing in Bitcoins is peculiar and as dangerous as the risk involved with other investments. As an investor in Bitcoin you may be doing yourself a lot of harm by assuming that Bitcoin is less risky, with that assumption in mind, you may let your guard down and give scammers and cyber criminals a way to teach you a lesson. Do not make that kind of mistake please.

And not many people can truly understand this market. This is why you can't generalize that btc is one of the safest investments, because for most regular people, it is not. If you are into crypto market, maybe, you can have that confidence on btc. But if you are not into this market, this will be one of the investments that you want to avoid. So this subject matter totally depends on the user, how well he is oriented on this market.

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Quote from: Queentoshi on February 27, 2024, 05:11:53 PM

Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

Although the risk involved in investing in Bitcoin may be different from other investments it does not mean that it is free from risk. The risk with investing in Bitcoins is peculiar and as dangerous as the risk involved with other investments. As an investor in Bitcoin you may be doing yourself a lot of harm by assuming that Bitcoin is less risky, with that assumption in mind, you may let your guard down and give scammers and cyber criminals a way to teach you a lesson. Do not make that kind of mistake please.

Well, every investment is risky in some ways. Maybe those investments that involve online transactions using fiat currency are more prone to scamming, wherein scammers could steal money from investors who didn't have strong sense in terms of investment scams. While bitcoin is a secured currency, the only way for scammers to scan you is through your own doings as well. Bitcoi. It is secured in the sense that the transaction is address-to-address and the transaction is unknown to anyone, so it is safe, and you can transfer a huge amount of money without worrying about losing that money, but of course it is the responsibility of the investor to identify which is scammer or not. Is bitcoin more risky? Nope, I think they are all the same. As I said, every investment is risky in its own way, but the thing is, I like more bitcoin because it is the new technology out there that has a lot of potential, and I'm not regretting investing in bitcoin based on what is happening in the bitcoin market right now.

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

Although the risk involved in investing in Bitcoin may be different from other investments it does not mean that it is free from risk. The risk with investing in Bitcoins is peculiar and as dangerous as the risk involved with other investments. As an investor in Bitcoin you may be doing yourself a lot of harm by assuming that Bitcoin is less risky, with that assumption in mind, you may let your guard down and give scammers and cyber criminals a way to teach you a lesson. Do not make that kind of mistake please.

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Quote from: The Cryptovator on February 27, 2024, 03:26:41 PM

If you are trading with a trusted seller, there is no risk unless you go face-to-face. Dealing face-to-face is always risky when it's Bitcoin. Otherwise, the safest money transaction is Bitcoin. You don't need to carry cash or a pocket book to send money somewhere. For investment, Bitcoin is also safe if you can hold your funds in a non-custodial wallet to which only you have access. However, due to scammers, it is very important to know with whom you are dealing. Also, you have to protect your privacy. Don't let others know how much Bitcoin you are holding.

Digital cash is doing the same, I do not know what makes OP think that only Bitcoin can be sent without physical interaction. The only advantage of Bitcoin is its fast transaction when doing cross border transfers assuming that the network is not congested. Yes, Bitcoin is decentralized and we have the freedom to send transactions without third-party intervention but at a cost of self-responsibility if something wrong happens along the transaction.

When buying tangible things with Bitcoin, even though the buyer and seller do not meet face to face, the buyer has to give his information for the seller to know where to ship the item. it does not look so different in using cash to purchase items online, IMO.

So @OP what really is the advantage of Bitcoin? I only see some things like protection from inflation, borderless transfers, and decentralization, probably a good investment if one has the patience to wait and is knowledgeable about market timing. But if one uses Bitcoin to purchase an item, I do not think it differs from using fiat currency. except being at a disadvantage when you are the buyer and an advantage if you are the seller due to an irreversible transaction once confirmed.

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Quote from: Despairo on February 27, 2024, 05:15:56 AM

Yeah Bitcoin is the most safest when it comes to safety and security, but make sure they're hold their coins in either air gapped wallet or hardware wallet. If they're hold their coins in hot wallet, it completely ruins the safeness in Bitcoin.

Quote from: MusaMohamed on February 27, 2024, 04:29:47 AM

Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?

Investment is not trading so safest investment is not safest trading. It's a wrong talk.

I think he meant "exchanging", although "trading" also fits the definition, but it could confuse some people when the topic discuss about a volatile asset.

Yeah as we all know that trading is risky but if OP is referring to "exchanging" I think it makes sense. Given that we can transact without others knowing that we are buying and selling our assets in Bitcoin. Compared to centralized physical assets we are exposed to the eyes of all who witness the transaction and of course the physical appearance of assets we buy and sell. Easy target for lawless elements compared to Bitcoin transactions.

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If you are trading with a trusted seller, there is no risk unless you go face-to-face. Dealing face-to-face is always risky when it's Bitcoin. Otherwise, the safest money transaction is Bitcoin. You don't need to carry cash or a pocket book to send money somewhere. For investment, Bitcoin is also safe if you can hold your funds in a non-custodial wallet to which only you have access. However, due to scammers, it is very important to know with whom you are dealing. Also, you have to protect your privacy. Don't let others know how much Bitcoin you are holding.

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When investing in any venture, there are always risks involved. However, most people aim to choose options that minimize the chance of losing their financial stake. Knowledge brings empowerment. So for those looking to dip their toes into digitalassets, Bitcoin can offer a sensible starting point with its track record of security and increasing adoption. As with any investment risks exist but can be mitigated through learning and making wise decisions.

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?

Trading is generally risky even for bitcoin but if we're talking about long term holding, yeahh I would say risks are a loooot less.

Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

I wouldn't say it's zero risk as it all boils down on how much you pay attention to your security and privacy. For instance, a lot of physical attacks to bitcoiners were targeted so it's safe to assume there was a phase were the perps were harvesting information.

Not sure I fully understand the latter but there are plenty of times people don't keep the other side of the deal.

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Lots of people especially those who are not that knowledgeable about bitcoin often think that it is a scam because it is too good to be true, but they just cannot simply understand that the money does not just come out of nowhere. It is an investment wherein the price is dependent on the demand of the coin.

Because its price is dependent on supply and demand, it is extremely volatile making it difficult to trade for short-term. Minutes and even seconds are crucial when it comes to trading that is why it is too complex and too risky to do.

But if you just invest and hold, then there is quite a high guarantee that you would gain profit.

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

Yeah sending Bitcoin to other person is quite safe, although there are other risks with Bitcoin as a system. But sending Bitcoin is only a part of the deal, and you could get scammed on the other part - bank transaction could be charged back, something physical could be not delivered, etc. And actually using Bitcoin as payment for investments has higher risks than using bank transactions, because once Bitcoin is stolen it's impossible to return, while bank transaction in some cases could be reversed.

But going back to Bitcoin as a system, the fact that your keys could be stolen by a virus or through phishing is a major problem, compared to other financial systems.

kentrolla

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Your mixing up to different things over here because trading and investment are two different aspects. I would say Bitcoin in the safest investment when it comes to Crypto currency and yes even for trading it's one of the safest as it eliminates the risk which you have mentioned, but it's not for noob who don't know how to handle it as people can be easily scammed if they fall for scams online like sharing the seed phrase and other sensitive data. If people are educated about Bitcoin and aware of what they can share and what they cannot then it's the best thing for investment as well as transferring huge funds as I would use Altcoins like TRX for low level transfers.

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Quote from: blckhawk on February 27, 2024, 09:21:56 AM

I don't know if everyone can agree about this because if you look at it in a perspective where you're not an investor of bitcoin and you're a normal person that doesn't know how to invest in bitcoin then you're going to have a hard time understanding how it all works and when you look at the investment choices, you're going to likely choose the one investment that's got a name or a people that's operating behind it known to the world and that's not possible with bitcoin because Satoshi is an alias and so with that little information, you're going to be having some doubts choosing bitcoin as an investment despite all the profit potential because you're doubtful about the existence of it and the lack of identity for the creator. What I'm trying to say is that it's not true for everybody that bitcoin has less risk if you don't have an interest in it.

Absolutely agree with you.

A lot people heard Bitcoin, many people try to search the definition, few people try to find a way to buy Bitcoin, but only one person is really buying.

Most of Bitcoin holders are rich because only the rich can afford to take a risk with high volatility asset, but there are many poor or middle class people now hold Bitcoin, because they're either get reward from airdrop or joining a signature campaign, it makes them able to know the power of Bitcoin.

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I don't know if everyone can agree about this because if you look at it in a perspective where you're not an investor of bitcoin and you're a normal person that doesn't know how to invest in bitcoin then you're going to have a hard time understanding how it all works and when you look at the investment choices, you're going to likely choose the one investment that's got a name or a people that's operating behind it known to the world and that's not possible with bitcoin because Satoshi is an alias and so with that little information, you're going to be having some doubts choosing bitcoin as an investment despite all the profit potential because you're doubtful about the existence of it and the lack of identity for the creator. What I'm trying to say is that it's not true for everybody that bitcoin has less risk if you don't have an interest in it.

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Yes, it's true that Bitcoin posses less risk when compared to other financial assets, as it has proven to be an asset, the longer it stays the more it becomes worth of more value due to it's volatile nature, scarcity, and increase in demand each time it's price skyrocket high, because unlike our traditional bank, Bitcoin is the only asset whereby a $100 investment could skyrocket to up to $1000 or even more due to it's long term profit assurance, not found in any other assets such as gold and e.t.c. Hence, Bitcoin remains the best asset for future investment.

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First of all, investment and trading or I would say safest investment and trading are not terminologies to be discussed in the same light because there's a huge gap in their fundamentals. We cant relate investment opportunities as an asset to the trading. i think we should acknowledge this don't he base level

At the same time when It comes to the attributes and pros of the technology the proper understanding and education are required for the efficient use of that technology to prove the merits of that particular technology, as you've mentioned the security of the P2P transection on the Bitcoin is physically threatless, on the same time you need a proper awareness regarding the digital threats, wallet compromise, custody, phasing etc etc on the same time, Human error is a big threat as well.

Consdier you've entered a wrong a public address or selected the wrong netweok for the trasection ow the millions of dollars are gone forever. What I'm trying to say is the proper education dn guidenace is required to utilize the system dn still may of the people are unaware of the system so to fully acknowledge Bitcoin as a safest investment and utility still there's room for educating people by having regular discussions on every medium.

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

It is important to state that the P2P transaction that is carried out in platforms like Binance are centralised so you cannot claim to be anonymous. Using these centralized platforms doesn't protect you totally from physical attacks because one can have access to your personal information. But you will enjoy a level of anonymity if you use decentralized exchanges and use other privacy tools.

Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Have an Insight if aside being scammed which is common in all financial systems and the inefficient exposure of a Bitcoin investor which is also a threat and common to some other influential sector of investors who lose guards from keeping their financial portfolios private to the public, what other risk is involved in the Bitcoin transactions?

Imagine the other business sectors especially those that has to do with a physical negotiation before building trusts for transactions. 😏

Some people see the irreversibility nature of Bitcoin as a problem. They want a system that could give the option to cancel confirmed transactions. But they fail to understand that this is what makes Bitcoin safe and unique. This is why some persons are investing in Bitcoin through the ETF because they enjoy some of the privileges that centralized platforms offer.

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading

Hmm. I will say Bitcoin is safe only when one have a good understanding about it. It is easy for people that lacks good knowledge about Bitcoin to easy lose their money. Money can still be lose when one is not using a good wallet for storing bitcoin and it is possible for one to lose bitcoin to scammers if their is no knowledge about how scammers operates. Bitcoin is safe based on how much understanding people have gotten to keep their money safe.

It is important for beginners to gain much knowledge about Bitcoin before trading or to invest in it, the mistake we make the leads to the lose of bitcoin is because we have no knowledge. Knowledge about Bitcoin is really important thst can't be taking for granted , learning everyday is a way of keeping bitcoin safe. People who rush into bitcoin without having better understanding can easily lose their money in different ways.

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Yeah Bitcoin is the most safest when it comes to safety and security, but make sure they're hold their coins in either air gapped wallet or hardware wallet. If they're hold their coins in hot wallet, it completely ruins the safeness in Bitcoin.

Quote from: MusaMohamed on February 27, 2024, 04:29:47 AM

Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?

Investment is not trading so safest investment is not safest trading. It's a wrong talk.

I think he meant "exchanging", although "trading" also fits the definition, but it could confuse some people when the topic discuss about a volatile asset.

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Quote from: EluguHcman on February 27, 2024, 03:55:44 AM

what other risk is involved in the Bitcoin transactions?

Imagine the other business sectors especially those that has to do with a physical negotiation before building trusts for transactions.

In every business we do, there's risk involved, but what the people want is in going for something that has the least tendencies of taking risk that could lead to loosing their entire financial investment, which in cryptocurrency, bitcoin has been the most reliable investment and digital currency worth their investment and they can as well make profitability in with little or no risk attached unlike the other cryptocurrencies and fiats, but we must also have to know what we are doing, we cant afford to do the wrong things and expect the maximum output, but when we are knowledgeable, we avoid making mistakes and do as accordingly for our safety with bitcoin.

Topic: Bitcoin portrays less risk of financial transaction than other investment system (Read 193 times)