Topic: Is Bitcoin safer than banking? - page 24. (Read 3101 times)
We must understand the core fundamental work process of both the systems to determine the security. since the traditional banking system is based on the trust of the few people, there is always a chance of losing our money but on the other hand, Bitcoin is based on the blockchain technology which relies on the principle of decentralization and hence if someone is trying to hack the system (which is beyond impossible), he will be losing his resources too. Decentralization makes it transparent and trustworthy over the traditional banking system.
There are many ways to ensure the safety and security of your bitcoin alt coin etc.. it’s as safe as you want it to be if you take the proper steps at protecting your money.. cold storage and paper wallets are a few examples. Take it off your system and use it when needed. Of course here are going to be issues because we’re human and mistakes can happen. Seems like at this point in time it’s not for everyone as a lot of people are claiming hacks and scams etc because they’re not doing their own dudiligence.. it all comes down to the user and people seems to be not ensuring their own security. If you fuck up you will lose your money.
Yes, you right talking bitcoin is safer then banking.and it's depend upon when if you have trust to BTC.i have notcied a lot of projects that were losing amount but bitcoin has many advantage then other coin.so it is protected to stocks our assets in the future.
In my opinion, that is only partially true. Bitcoin is really safe and secure. We can take good control of our finances with one. However, in case you are careless? For example, your password is weak, or your information is stolen. There is no guarantee for your finances. With the bank, when your account is hacked, the bank will detect suspicious things and can help us to prevent timely. Therefore, we should consider using bitcoin or bank.
Safety is really dependent on your idea of security. There always exist loop holes in terms of security.
But in general terms of digital security (since we are talking of bitcoins), having your transactions kept and saved in an immutable manner is an absolute plus in security. Add to that the honest peers that confirms every transactions that throws out any attempt to append false transactions, i think we have a really safe system there.
And unlike banks where transactions is open to human tampering, bitcoin guarantees no such event shall take place since there is no central power in control of the data.
So yes, i do think that bitcoin is way safer than banks.
But in general terms of digital security (since we are talking of bitcoins), having your transactions kept and saved in an immutable manner is an absolute plus in security. Add to that the honest peers that confirms every transactions that throws out any attempt to append false transactions, i think we have a really safe system there.
And unlike banks where transactions is open to human tampering, bitcoin guarantees no such event shall take place since there is no central power in control of the data.
So yes, i do think that bitcoin is way safer than banks.
As much as we hope and want Bitcoin to be safe as much as banking, currently
it isn't. It still hasn't reach that kind of stability to be on par with traditional
banking. I believe it's heading to that direction but it's still gonna take some time
and go through a lot of scrutiny and assessments. But for long-term investments
I think in today's market Bitcoin decisively qualifies as a safe choice than traditional
banking. It's a lucrative option that is appealing and is accessible to anyone.
it isn't. It still hasn't reach that kind of stability to be on par with traditional
banking. I believe it's heading to that direction but it's still gonna take some time
and go through a lot of scrutiny and assessments. But for long-term investments
I think in today's market Bitcoin decisively qualifies as a safe choice than traditional
banking. It's a lucrative option that is appealing and is accessible to anyone.
No one can guarantee 100% security for Bitcoin and banks, Bitcoin and banks have their own strengths and weaknesses, so nothing is truly safe. You can't just put down the banking system because there are some shortcomings in it. and you can't say that bitcoin is 100% safe because there are hackers who can take your Bitcoin.
i think it depend on you. if you manage and protect your password or private key well, the bitcoin and crypto altcoins will be safe.
you should believe in yourself and trust about blockchain technology, they are technology of future
you should believe in yourself and trust about blockchain technology, they are technology of future
reportedly is bitcoin. now I'm studying it
Yes, in my analysis, the current bitcoin is safer than banking because it has a high security system that is safe for the user and if the error comes from the user's fault so you should invest in bitcoin and Keep your property here for easier control. And do you think the new bitcoin or banking is the safest place?
At the moment there is not a clear cut answer to this question as the traditional banking and its routines and checks are quite helpful but also have their shortcomings. The bitcoin equally has its advantages but its disadvantages are also there and the benefits are quite certainly outweigh these shortcomings. so there is not a clear cut answer at the moment to this question.
Right now I think that no. But in the future, I will agree with you. As proof, I will give an example. I have seen a lot of projects that were losing money because they were stolen. But bitcoin has many other benefits.
In my opinion, bitcoin is actually more secure than bank because bitcoin is highly secure and very tightly controlled so it is safe to store our assets. We can also control our assets. We are always ready to buy or sell bitcoin quickly to help increase the value of our assets. In your opinion, where is the bank better than bitcoin?
Ofcourse because banks are centralized, but the problem is BTC will be centralized soon, they are trying to control the market, arent they?
Well, digital currency is here to stay, but before it does and adopted properly for what it's intended for.a lot of battle will have to be won against manipulation, government, whales, shit & scam coins and likes
Bubbles and pumping will not help .if this is done, adoption of cryptocurrency will be massive and profitable in the end
Cheers
Bubbles and pumping will not help .if this is done, adoption of cryptocurrency will be massive and profitable in the end
Cheers
Bitcoin is one of the cryptocurrencies, actually the leading one so, cryptocyrrency is the best asset, but it is what we say one miss you die, in banking, you have process like real filling requirements or form and it is totally regulated, once the bank mess to secure your funds then the bank will refund it for you, but in crypto currency industry, wrong step, of entering in phising links and not being be careful with viruses, that collects cookies of your informations then it is the end.
right now? i think yes because we can see that the bitcoin use the blockchain system that we know have a better security than the ordniary system, and maybe it will change the all traditional system in the future with the blockchain system
For me it's YES, because Decentralization is Bitcoin’s “killer app” and there are several things it can do better than traditional banking. Bitcoin is free to use and accessible to anyone without limitations. Bitcoin doesn’t have any spending limits which means you can send as much money as you need. So that's why bitcoin is safe.
I think yes. Because bitcoin is one of the fastest and easiest way to earn money. We can exchange it and withdraw it instantly. The bad side in bank is that they get some interests in your savings and they say that it is because you are using their system. Well, bitcoin don't do that.
Yes, it is a little fun to hear the blockchain system compared to banks, but both of them have advantages and disadvantages.
Like a bank, if they get fraudulent reports, the bank will definitely immediately cooperate with the police to track down the perpetrators, this is the excess of the bank if fraud occurs while using the blockchain system will find it difficult to track, including the police, also the difficulty of tracking down the perpetrators.
Like a bank, if they get fraudulent reports, the bank will definitely immediately cooperate with the police to track down the perpetrators, this is the excess of the bank if fraud occurs while using the blockchain system will find it difficult to track, including the police, also the difficulty of tracking down the perpetrators.
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