Even your fiat is not totally secure! - page 3.

1NV3ST0NM3

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Quote from: The Sceptical Chymist on September 25, 2018, 08:36:23 PM

You're stating the obvious here, and there's no point even discussing this.

Anything you own, whether it's gold, crypto, cash, or comic books, can get stolen if you don't have proper security measures in place. That's been known as long as there's been thievery in this world.

Exactly!!

Anything and everything is prone to the danger of theft or misplacement. So crypto is no exception. And fiat is not secure absolutely, everyone knows of that.

In fact crypto is safer than fiat, everyone knows, and it is a basic argument one may keep to defend the crypto.

Anyhow there is no point in discussing this lame topic!

dewildance

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Quote from: Sama517 on September 25, 2018, 06:56:40 PM

A lot of people have always worried about the security of bitcoin and cryptocurrency which is why they have decided to stay away from investing in it. You must also note that even the fiat money that you may have can also be liable to theft. The earlier you stop giving flimsy excuses, the better. The decision is yours!

It's hard to tell people. Moreover, in most countries, those who hold all the money in fiat are losing value with inflation and some involuntary issues.

shield132

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OP if your hardware, where bitcoin is intalled gets damaged, then you may lose it. When you own money on card, if you lose it, you can lock bank account anytime and keep your funds safe, that's all. So I can't see any idea in words "even your fiat is not totally secure", total security doesn't exists in this world too, The Pharmacist said right.

1Referee

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Quote from: vit05 on September 26, 2018, 12:02:49 AM

What could and should occur would be more security and audit solutions specific to exchanges. But the main thing is that if well guarded, you will hardly lose your cryptocurrencies.

Japan is probably one of the very few countries that actually does that what you are talking about, but it's not enough to prevent thefts in form of hacks.

Exchanges will always have to deal with hot wallets, and hackers are out to breach their systems in order to withdaw as much value as possible, and have it confirm as quick as possible, which is why they mostly go for altcoins. Bitcoin's "slower" confirmations offer exchanges quickly noticing theft the ability to double spend in an attempt to reduce financial damage.

And yes, even if there is a successful theft, exchanges will likely refund you one way or another, but the refund process will always favor the exchange and not you. Let's say you have 10BTC in your account at today's $6500 value, and the price shoots up to $15,000 not long after, they will obviously only refund you $6500 per coin. In case the value drops to $3000 for example, the exchange will suddenly refund you your coins instead of fiat.

palle11

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Laughs.... I was expecting to read that mouse can even steal your fiat Roll Eyes

Off course it is a fact that anything can be lost. People who are not investing in cryptocurrency are not doing so basically because of being lost but because they don't understand or believe in it.

Tory-Tory

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Quote from: Sama517 on September 25, 2018, 06:56:40 PM

A lot of people have always worried about the security of bitcoin and cryptocurrency which is why they have decided to stay away from investing in it. You must also note that even the fiat money that you may have can also be liable to theft. The earlier you stop giving flimsy excuses, the better. The decision is yours!

Moreover, I want to say that keeping the crypto currency is safer then other currency. Sufficiently hide the key from your wallet and that's it. But with fiat money everything is different, they occupy a certain space for storage. And if you take them to the bank, then in many countries they will ask questions about where you take the money. It has long been an understandable fact that electronic money is more convenient than cash, and crypto currencies are perfection.

KirunBarber

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those who plunge into the world of cripto currencies are only those with good mentality. and all things are as small as there are risks, even businesses in the real world such as their rice traders can lose.
Huh

vit05

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I do not think this is the main discussion related to cryptos. The big difference is the civil liability of organizations that maintains their assets. There are several regulations regarding how and what banks can do with the refusals that others place on their accounts. Regarding the exchanges, their responsibilities are almost non-existent.

What could and should occur would be more security and audit solutions specific to exchanges. But the main thing is that if well guarded, you will hardly lose your cryptocurrencies.

Even because Bitcoin does not exist. You can not save it in a box. What exists is your access to blockchain.

patz22

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Even your wife/husband. Better lock this thread as this will be a nest for shitposters. (oopps merit still needed)

@The Pharmacist is right, everything can be stolen but basically you as the owner will be in charge for its security, no one can be blamed if in case something will happen.

The Sceptical Chymist

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You're stating the obvious here, and there's no point even discussing this.

Anything you own, whether it's gold, crypto, cash, or comic books, can get stolen if you don't have proper security measures in place. That's been known as long as there's been thievery in this world.

Sama517

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A lot of people have always worried about the security of bitcoin and cryptocurrency which is why they have decided to stay away from investing in it. You must also note that even the fiat money that you may have can also be liable to theft. The earlier you stop giving flimsy excuses, the better. The decision is yours!

Topic: Even your fiat is not totally secure! - page 3. (Read 539 times)