Bitcoin saving is not safe - page 9.

Kprawn

legendary

Activity: 1904

Merit: 1074

You are not starting your forum career {yes, I said career} with a good start. Bitcoin {The Technology} has never been hacked

before. {the protocol} Yes, Bitcoin websites/exchanges/wallet providers have been hacked, but they only use the currency.

The Bitcoin developers are doing a damn fine job at the moment and all code are OpenSource and under constant scrutiny

from other developers. {Peer review} Cool

jvdp

hero member

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Quote from: QN2018 on January 20, 2018, 09:22:42 AM

I think Bitcoins saving is quite risky, because compared to other forms of investment such as gold or dollars, cryptocurrency is more risky because the possibility being hacked is so high, we could be stolen bitcoin or the ability the network system attacked, you lost all bitcoin in the second. In addition,fluctuations in bitcoin price are highly impacted by the market so investment in bitcoin is unsafe solution. Roll Eyes

First you should think before to post this kind of shit thread. Bitcoin is 100% secured investment this is digital world so everything is hackable in the world. When compared gold and dollar, cryptocurrency is safe and secured in investment. This is user friendly so you can access anywhere in the world. Everything should be fluctuating you should hold and dollar value also fluctuate in the market. But Bitcoin is raise continuously or some fluctuation is happens. So you decide which one in best investment, before to decide you should analyse complete strategy of cryptocurrency.

Dansamiv

newbie

Activity: 224

Merit: 0

Quote from: erickkyut on January 20, 2018, 09:46:39 AM

All investors in this community are already aware of the risks from Bitcoin savings and investments. That is why we always advise that invest only what you can afford to lose and do your own research first to minimize the risk. The positive side of it is that the higher the risks, the higher the return. If you will just focus on it and put efdort on studying Bitcoin, you will surely become rich because of it.

Your comment is awesome. I agree with your opinion.
The false information, turbulence market shows the popularity of bitcoin.
It is puzzling for the beginner community to learn and invest in bitcoin.

jonruhoax

full member

Activity: 280

Merit: 100

I thought you were talking as if we did not know anything about bitcoin. it is you who do not know much about bitcoin technology and its benefits. yes, it's true what you say. it's very risky. but it's not as easy as what you say.

Aristus

member

Activity: 280

Merit: 10

Quote from: QN2018 on January 20, 2018, 09:22:42 AM

I think Bitcoins saving is quite risky, because compared to other forms of investment such as gold or dollars, cryptocurrency is more risky because the possibility being hacked is so high, we could be stolen bitcoin or the ability the network system attacked, you lost all bitcoin in the second. In addition,fluctuations in bitcoin price are highly impacted by the market so investment in bitcoin is unsafe solution. Roll Eyes

There is no 100% safety in investment world,evry time when you enter your money is always at risk. Most of all here in bitcoin because there but the good thing with bitcoin is the chance to earn high. You will only get hack depends on how highly you secure your wallet.

spiker777

sr. member

Activity: 1004

Merit: 279

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You're only going to get hacked if you do not take precautionary measures. Do you know how much credit card theft there is? How many bank accounts are compromised? I would say the risk of being hacked is roughly similar to these.

Simple, store your bitcoins in a hardware wallet such as a trezor or Nano S, and you wont have to worry about online attacks. You spreading this misinformation is what hurts the progress of bitcoin.

erickkyut

hero member

Activity: 1176

Merit: 509

All investors in this community are already aware of the risks from Bitcoin savings and investments. That is why we always advise that invest only what you can afford to lose and do your own research first to minimize the risk. The positive side of it is that the higher the risks, the higher the return. If you will just focus on it and put efdort on studying Bitcoin, you will surely become rich because of it.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: Kulafu on January 20, 2018, 09:27:26 AM

Your btc being hacked is near to impossible. I agree with the fluctuation of the price. Fluctuation is normal in the market it makes profits anyway for the traders.
Without price fluctuation there will be a shorted of supply of btc because everyone will hold it.

Well, maybe he is referring to wallets but there is more hacking in Ethereum wallets than in the Bitcoin side. Fluctuations is always part of the game and this is actually one reason why Bitcoin is popular because if it can go down drastically there are times when there is a bull run making everybody happy. Had Bitcoin been moving just like any traditional investment tool, I don't think it will be as popular as it is today. There will always be risks and if one is involved in Bitcoin he must learn to mitigate and mange those risks otherwise the best thing to do is to get out and return only when one is already mature enough to bear the responsibilities as a Bitcoin holder.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: QN2018 on January 20, 2018, 09:22:42 AM

I think Bitcoins saving is quite risky, because compared to other forms of investment such as gold or dollars, cryptocurrency is more risky because the possibility being hacked is so high, we could be stolen bitcoin or the ability the network system attacked, you lost all bitcoin in the second. In addition,fluctuations in bitcoin price are highly impacted by the market so investment in bitcoin is unsafe solution. Roll Eyes

Oh Dear, please, please read around the forum before posting such stupidity. What do you mean network system attacked? Do you have any idea what you are talking about? Maybe what you heard about people losing their bitcoin is (1) they put their funds on a exchanges, so when a hacked happened on that exchange, your money is gone, (2) you didn't protect your wallet, - password is not strong, or you give your private key to someone untrusted. Fluctuations is part of the nature of bitcoin, If you don't know how to handle fluctuations, you shouldn't be in bitcoin investment. Bitcoin price is based on supply and demand, so its another factor that you need to understand before talking about fluctuations, volatility and unstable price.

randee888

member

Activity: 88

Merit: 12

Do you fully understand what you said ?
i mean bitcoin cant be hacked, the exchanger or market that store it can. You can store your bitcoin or any other coin in offline wallet and no one cant access it except you, you the one who holding the private key for that address. About the fluctuations yes it true, but that the risk you need to take if you want to make some good profit in your retired time.

Quote

Risky but attractive?
Perhaps, Bitcoin and other cryptocurrencies can be considered as alternative investment options. However, the truth is that it has its flip sides one should be aware of.

Retirement advisors consider Bitcoin risky, volatile, unregulated and unsuitable for long-term investments. Financial regulators are still uncertain how to classify Bitcoin and therefore how to treat Bitcoin investments. Besides, Bitcoin is completely unregulated and uninsured.

We all get so excited seeing its rise in value, however, we also witnessed some dramatic declines. If the majority of its value can disappear in a few seconds, how can it become something to depend on in a decade?

Let’s go back to the story of Jack Tatar. At the end of 2015, things started to be different for his investments as the price of Bitcoin started to grow. In the summer of last year when Bitcoin was over $700, Tatar shared his excitement by saying that it has been the best investment in his retirement account.

Kulafu

jr. member

Activity: 140

Merit: 2

Your btc being hacked is near to impossible. I agree with the fluctuation of the price. Fluctuation is normal in the market it makes profits anyway for the traders.
Without price fluctuation there will be a shorted of supply of btc because everyone will hold it.

QN2018

newbie

Activity: 21

Merit: 0

I think Bitcoins saving is quite risky, because compared to other forms of investment such as gold or dollars, cryptocurrency is more risky because the possibility being hacked is so high, we could be stolen bitcoin or the ability the network system attacked, you lost all bitcoin in the second. In addition,fluctuations in bitcoin price are highly impacted by the market so investment in bitcoin is unsafe solution. Roll Eyes

Topic: Bitcoin saving is not safe - page 9. (Read 887 times)