Topic: Is Bitcoin safer than banking? - page 3. (Read 3115 times)
yes, of course, bitcoin is safer than banking because with bitcoin transactions can be easy to see because all blockchain systems record everything so that the entry and exit of assets can be seen.
I think both have risks. but indeed banks have a smaller risk than bitcoin. but i still choose bitcoin because bitcoin still have future and good investment. whereas the bank I use is only to save money.
Ever wondered when the programming used by your bank to store and send your money, was first coded? Well; I’m gonna tell you. Way back in the 70’s, it was written in obscurity on a computer with less than 1% of the processing power of your current smartphone. And to say the least, it’s extremely vulnerable. Why? Well because computers simply weren’t powerful enough to run the encryption that is employed today; and also the code was cryptographically basic. Your bank has three servers; one in the host country, and probably 2 back up ones in China. They also pay up to £100’s of millions per year for Data Security. Because 97% of money is already digital anyways and so is 97% of your banks. Because the system is so vulnerable; hackers manage to exploit it.
And Billions are lost every year due to vulnerabilities in the system.
For Bitcoin; it’s logistically impossible, they would need control of over 50% of all the global nodes and at least 50% of the mining network at the exact same time; considering that there are 10’s of thousands of nodes and 100’s of miners currently; it’s more likely that your banks super secret servers are compromised.
However; this is only if you have complete control of your private keys.
And Billions are lost every year due to vulnerabilities in the system.
For Bitcoin; it’s logistically impossible, they would need control of over 50% of all the global nodes and at least 50% of the mining network at the exact same time; considering that there are 10’s of thousands of nodes and 100’s of miners currently; it’s more likely that your banks super secret servers are compromised.
However; this is only if you have complete control of your private keys.
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
All of course can be better another, compare all of this can be perhaps to accept the only the right decision, and in my opinion better in banking, so as greater older and these wiser. This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
When it comes with security, bitcoin is safer than banking. In a bank, Bank clients report that there are unauthorized use of their money or even the deposited money is missing. So i prefer the technology of bitcoin.
Nope Bitcoin is not safe like banks cause if we send payments we don't have actually sending info's too but only address and transaction id not like in banks we should have complete details first before making any transactions other than that depositing bitcoin in any exchanges is risky too cause is could be hack and lose all your bitcoins.
In my opinion, Bitcoin is safer than a bank because it is anonymous so transactions are still done but your identity is completely secure and you don't have to worry because bitcoin can't be faked.
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
In terms of performance and its usage of course bitcoin's safer, more convenient and practical than banking. The reason is I can make transactions with bitcoin wherever I'm. I'm aware bitcoin and banking have their respective weaknesses and advantages. But for now bitcoin is the best.
In my opinion, banking is safer than bitcoin. In terms of products and services offered, banking involves a little risk than bitcoin for the reason it also offers little in return. What makes bitcoin risky is because the higher the risk, the higher the demand.
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
It is difficult to answer unequivocally. So how to compare bitcoin and banks, not quite right. These are completely different things. Bitcoin is P2P value, with Fiat money always volatile. But banks work with fiat money. For the safety of your funds in Bitcoin, only you are responsible. In the case of a bank, there is always an intermediary. So excluding more evil, bitcoin is more reliable for storing funds than banks. But, always have to take into account the volatility.This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
Perhaps the banks are still safer. Let a small percentage of deposits, but you are sure that your money does not decrease by 2 times.
I think it is way more safer than banking in terms of security,
Just don't expect too much when you put your money in it ,don't expect that it would bloom or have some interest because we couldn't control the price of Bitcoin.
in my opinion, of course the bank is safer, because it is supported by the government, and there are many other reasons. therefore, bitcoin is always viewed as having a large risk. but, I think there are still many people who choose bitcoin because it feels profitable. Just don't expect too much when you put your money in it ,don't expect that it would bloom or have some interest because we couldn't control the price of Bitcoin.
I think it is way more safer than banking in terms of security,
Just don't expect too much when you put your money in it ,don't expect that it would bloom or have some interest because we couldn't control the price of Bitcoin.
Just don't expect too much when you put your money in it ,don't expect that it would bloom or have some interest because we couldn't control the price of Bitcoin.
Peer-to-peer technology is placing more power in the hands of individuals and Bitcoin is a serious upgrade to our money. Decentralization is Bitcoin’s “killer app” and there are several things it can do better than traditional banking.
Due to BTC's decentralized nature which is more secured and safer, it has made more people trust it more than the banks. I think its more safer than the banks.
Although it is decentralized, it is not regulated, besides it is the main currency in blackmarket where hackers and illegal people are, which led the thoughts of people that it is not safe, they will intend to go for the banks. 
Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
In terms of performance and its usage of course bitcoin's safer, more convenient and practical than banking. The reason is I can make transactions with bitcoin wherever I'm. I'm aware bitcoin and banking have their respective weaknesses and advantages. But for now bitcoin is the best.
Due to BTC's decentralized nature which is more secured and safer, it has made more people trust it more than the banks. I think its more safer than the banks.
if you say Bitcoin is safer than the Bank is wrong, but if you say Bitcoin is more profitable than the Bank then you are right, because I think Bitcoin is more profitable than the Bank but the Bank is safer than Bitcoin, I can say that because Bitcoin can disappear at any time but the increase in the price of Bitcoin is very fast.
What exactly are you talking about: Bitcoin safer than banks???
I can't see how this can be possible. There may be some risks with saving at banks but there is no way that can be anywhere closer to the risks involve with investing in Btc.
Yes, for me banks stil was the safer one, why? Simply because ithave support and tested for so many years. You can recover easily and contact the support when something went wrong. It was more tisky here in bitcoin than in banks. Even bitcoin has a high profit but the fact that you are not 100 percent sure about your investment means that banks still much safer than it. I can't see how this can be possible. There may be some risks with saving at banks but there is no way that can be anywhere closer to the risks involve with investing in Btc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
IMO, i still think that banking is still safe from crytocurrencies because there is a less threat on it comare to bitcoin. If you would think closely, once they get your private key, no thing can be done, goodbye funds and assets already. However if this thing happen in bank, you can still report the case and a follow-up procedure may occur for this. 
There is no route of escape in life. There is non of them that have 100% assurance of safety. I and my friends have experience being hack in bitcoin world. We have also seen bank debit alert that we have never initiate.
Bitcoin is really popular because it is great investment but it has also a possibility that the money we will put in bitcoin can lose or maybe hacked if we will not used a good wallet that's why for me bank is still more safer. Jump to: