Topic: How much is bitcoin safe? (Read 127 times)
Bitcoin is fiat currency which is rigorously safe for those that have it, if but they have the advanced technical know how of keeping all wallets safe from being hacked. Bitcoin is Decentralized and no Government is controlling it despite all efforts made so far. Some methods of keeping your Bitcoin safe is by mixing your coins and making your IPs secret, unless where and when necessary to do so.
There's a lot hacked happened in bitcoin.Government keep on tracking it and many had tried tracking it because of its ways of earning coins. We don't someday government will have the power track it.
The security of bitcoin is the most secure and stable one in the emerging market. Compared with other newly emerging competitive COINS in the market, the price ratio of bitcoin is quite high. The security system built by bitcoin gives investors a perfect, stable and safe investment environment.
It's quite safe, but it has been hacked several times through it's history. And still there're public records aabout all transactions, so it can be tracked, if not now than in future
Isn't there still a possibility to use bitcoin as a mean to pay for some illegal stuff even possibly dangerous for other people? Since its untrackable...
That's because of some basic differences between Bitcoin and a conventional currency such as dollars or Euros. Bitcoin and other cryptocurrencies, such as Litecoin and Ethereum, are wholly digital forms of cash stored in so-called wallets. Like other files, Bitcoin wallets can be stored locally, say on a hard drive stuffed under a mattress, or in the cloud.
And like dollars, Bitcoin can be lost or stolen.
The majority of Bitcoin users are law-abiding people motivated by privacy concerns or just curiosity. But Bitcoin’s anonymity is also a powerful tool for financing crime: The virtual money can keep shady transactions secret. The paradox of cryptocurrency is that its associated data create a forensic trail that can suddenly make your entire financial history public information.
Bitcoin's privacy properties are a kind of paradox: Every Bitcoin transaction that occurs in the entire payment network is recorded in the "blockchain," Bitcoin's decentralized mechanism for tracking who has what coins when, and preventing fraud and counterfeiting.
And like dollars, Bitcoin can be lost or stolen.
The majority of Bitcoin users are law-abiding people motivated by privacy concerns or just curiosity. But Bitcoin’s anonymity is also a powerful tool for financing crime: The virtual money can keep shady transactions secret. The paradox of cryptocurrency is that its associated data create a forensic trail that can suddenly make your entire financial history public information.
Bitcoin's privacy properties are a kind of paradox: Every Bitcoin transaction that occurs in the entire payment network is recorded in the "blockchain," Bitcoin's decentralized mechanism for tracking who has what coins when, and preventing fraud and counterfeiting.
I want to tell that while the governments of different countries have been trying to track bitcoin, there is a question mark on safty on use of bitcoins for extream private transactions. People should think about it.
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