Is Bitcoins safe? - page 75. | Bitcointalksearch.org

BigBoy89

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Quote from: Astargath on November 28, 2015, 03:35:51 PM

Quote from: Amph on November 28, 2015, 02:15:06 PM

bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow

when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin

I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ and after a few years they find out the price is at 300$, do you consider that safe? Of course not because it's not.

It could be vice versa as well imagine if someone bought bitcoins at $394 which is current rate and after few years he or she finds out that the value of Bitcoin is $1000 ? The reason behind my point is the pace at which BTC has grown

bearex

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Not really safe, because you dont know what the value will be in like 1 month. It might be $50 per Bitcoin, so it is not really the safest investment.

Blue_Panda73

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I will put 5-10% of my savings into bitcoin. It is still a very risky investment. The core developers cannot reach a consensus of the new block chain size, it will impede the further adoption of bitcoin.

Denker

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Quote from: acroman08 on December 06, 2015, 12:47:34 PM

Quote from: ?? on ??

Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. Cheesy

but if there is another meaning behind the word "safe", maybe you can clarify ?

bitcoin is very unstable, the price might drop in a week or up.
so i dont know where did you get that "BITCOIN its VERY SAFE"
because from what i can see, i woudnt invest half of my
assests in bitcoin because it may disappear in a blink of an eye.

Putting half of your assets in Bitcoin would be really very bold!
5-10% I think is a good amount for the moment.
If the progress in the infrastructure keeps going and the fundamentals will do so as well you can put a bit more into it.
Therefore always keep yourself updated what's going on in Bitcoinland.

The Sceptical Chymist

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Quote from: Slark on November 30, 2015, 01:04:27 PM

Quote from: Financial_Genius on November 28, 2015, 01:45:53 PM

Is it safe to keep all of my assets in Bitcoins? And how Department for Combating Economic Crimes, can affect my account? What permissions they need , to freeze all my money ?

It is never wise to keep ALL your assets accumulated in one place. It does not matter if that is cryptocurrency you stack or shares of some company. If you want to be safe, always split your money around.
For now there is no way to blacklist your bitcoin addresses. And your coins must be taken over manually.

I agree with this 100%, and I would also stress that diversifying one's assets in the first place is a very good idea.

Has anyone here tried that Keep Key device I see being advertised all the time? That looks like kind of a neat device.

acroman08

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Quote from: ?? on ??

Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. Cheesy

but if there is another meaning behind the word "safe", maybe you can clarify ?

bitcoin is very unstable, the price might drop in a week or up.
so i dont know where did you get that "BITCOIN its VERY SAFE"
because from what i can see, i woudnt invest half of my
assests in bitcoin because it may disappear in a blink of an eye.

iv4n

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What is 100 % safe today? And I belive government will find a way to something if they really wish to. Like some people above me said, all we can do is to believe in BTC. No one can guarantee you what will happen tomorow, or day after tomorow.. for several years. It is the risk u need to take what ever u do. I hear good thing here, never hold all eggs in one basket. So try to have eggs on more then one place, just in case.

Slark

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Quote from: Financial_Genius on November 28, 2015, 01:45:53 PM

Is it safe to keep all of my assets in Bitcoins? And how Department for Combating Economic Crimes, can affect my account? What permissions they need , to freeze all my money ?

It is never wise to keep ALL your assets accumulated in one place. It does not matter if that is cryptocurrency you stack or shares of some company. If you want to be safe, always split your money around.
For now there is no way to blacklist your bitcoin addresses. And your coins must be taken over manually.

Denker

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Quote from: Oscoda on November 30, 2015, 12:14:31 PM

Quote from: ?? on ??

Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. Cheesy

but if there is another meaning behind the word "safe", maybe you can clarify ?

long-term very safe? Hmmm maybe so, but jsut don't forget that it just can go down.

Lets just say it is safe for now, because bitcoin is growing.

I think Bitcoin is here to stay. However this does not mean it will be worth a lot, although I hope so of course.
It could also be the case that it just will be worth a few dollars.No one knows.
Bitcoin with almost being 7 years old is still in experimental phase.That is what we should keep in mind.

Mickeyb

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Quote from: ?? on ??

Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. Cheesy

but if there is another meaning behind the word "safe", maybe you can clarify ?

Bitcoin is still a huge experiment guys! Don't forget this. That's why nobody should get over the head and invest more than he can afford to lose, even at this moment!

Granted, with each passing day, Bitcoin is safer and safer!

Oscoda

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Quote from: ?? on ??

Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. Cheesy

but if there is another meaning behind the word "safe", maybe you can clarify ?

long-term very safe? Hmmm maybe so, but jsut don't forget that it just can go down.

Lets just say it is safe for now, because bitcoin is growing.

AtheistAKASaneBrain

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I think whoever comes up with an efficient system to keep people's Bitcoins safe locally will become a billionaire in the next years. Right now, Trezor is a great effort, but we need something better. We will need something more refined, more user friendly, with better aesthetics, and really easy to use. Trezor got the right idea even tho is still rough around the edges.

Amph

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Quote from: Astargath on November 30, 2015, 10:13:32 AM

Quote from: Amph on November 29, 2015, 04:29:30 AM

Quote from: Astargath on November 28, 2015, 03:35:51 PM

Quote from: Amph on November 28, 2015, 02:15:06 PM

bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow

when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin

I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ and after a few years they find out the price is at 300$, do you consider that safe? Of course not because it's not.

my definition of long term wasn't 2009-2013, but 20 years like satoshi proclaimed with his quote, so the last ath does not count anything at this point, wait for 2030 and if by then you still have to overcome the loss about the 1200 ath then you might be right

I would say that any investment that takes so long it's not worth it all. 20 years is a massive time lapse, there is no way to know what will happen with bitcoin or even with the world in 20 years. What if bitcoin only goes to 1000$, would that be worth it? No, I mean you would obviously look for something like each bitcoin to be worth 10k at least and you don't know if that will indeed happen.

well it's not 20 years anymore, now we are at -6 years so only 14, i think it's worth the way, you can't expect a new technology like bitcoin to skyrocket in 5 years, it's ridiculous

Astargath

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Quote from: Amph on November 29, 2015, 04:29:30 AM

Quote from: Astargath on November 28, 2015, 03:35:51 PM

Quote from: Amph on November 28, 2015, 02:15:06 PM

bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow

when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin

I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ and after a few years they find out the price is at 300$, do you consider that safe? Of course not because it's not.

my definition of long term wasn't 2009-2013, but 20 years like satoshi proclaimed with his quote, so the last ath does not count anything at this point, wait for 2030 and if by then you still have to overcome the loss about the 1200 ath then you might be right

I would say that any investment that takes so long it's not worth it all. 20 years is a massive time lapse, there is no way to know what will happen with bitcoin or even with the world in 20 years. What if bitcoin only goes to 1000$, would that be worth it? No, I mean you would obviously look for something like each bitcoin to be worth 10k at least and you don't know if that will indeed happen.

ranochigo

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Quote from: Decoded on November 29, 2015, 06:06:14 AM

Truth be told, it really isn't. Bitcoin is a fluctuating currency. If When quantum computers are invented, Bitcoin will either have to up it's cryptography, or die out. If there is a new cryptography being introduced to Bitcoin, the price will be highly affected when people get the idea that bitcoin has to keep changing into their head. I'd say keep your investments in fiat unless your local currency is worse than Bitcoin, which I highly doubt.

Quantum computing only affects ECDSA in Bitcoin, SHA256 hashing etc, isn't compromised. This, however means that an address's private key can be deduced from a public key. A public key is only broadcasted if a transaction is sent. This would take a few weeks for a large scaled quantum computer to crack and hence, if one doesn't reuse address, there is no significant danger. It is very easy for Bitcoin to shift to another algorithm.

noone000

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You can't be sure if storing all your assets in Bitcoins is safe. There's always the likelihood of it suddenly plummeting for a random reason. Consider Bitcoin an investment, but also pretty much everything else. The only difference with Bitcoin is its high volatility in comparison to other "safer" alternatives.

If you truly think that Bitcoin is the way to go, do what you will, but you'll find it hard to spend your money without FIAT.

CoinSkipper

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The DEC can't affect your account unless they break into your house or something. Are you doing anything illegal, that will make them do that? Probably not.

Bitcoin, if you secure it properly from hackers, is extremely safe. If your country closes it's banks, then you still have bitcoin, as you are your own bank.

redhack

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Nothing is safe alone. You have to diversify your assets. Rule no.1: Don't put all eggs in one basket.
Bitcoin is safer than other assets, still you have to %100 KNOW what you are doing.

Astargath

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Quote from: mouneshwar123 on November 29, 2015, 12:31:51 PM

Quote from: bob123 on November 29, 2015, 10:39:58 AM

Noone can guarantee you that the price of BTC won't fall.. In the end.. its an investment like any other.

Not all investment can give high ROI like Btc can give.

Implying that other investments than bitcoin wont give high profit, how do you think all millionaires and billionaries in the world have achieved what they have? Investing in bitcoin? I don't think so.

1Referee

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Bitcoin is safe as an investment for sure, but people should never ever keep all their money in just one investment. At this point my personal situation is that Bitcoin right now forms 25% of my total wealth. I'm only in Bitcoin as it is right now, I have no other investments that I am in. I won't feel comfortable to let my wealth ever go over 50% in form of investments.

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