Topic: Safety (Read 675 times)

No, blockchain technology is not safe by itself, what makes it safe and immutable is the way the consensus is achieved and the scale the nodes of the network are distributed. If a cryptocurrency is run by a single organization, it can easily be changed by that organization, and the history written on a blockchain can easily be altered. Therefore, if a cryptocurrency is backed by authorities, those will have complete power over its characteristics and over transactions occurring on the blockchain of this backed cryptocurrency. A system such as that would have been no different from the fiat system we have today. It would have had all the flaws of government-issued money, including continuously expanding supply, inflation, and the enormous power of central banks over the economy and people. It wouldn't be cryptocurrency where security is achieved through unstoppable code and consensus, it would be corruptocurrency where security is broken by default because it is run by corrupted politicians.

in the security system, all have weaknesses. in this case we have to learn from the experience of anyone who has experienced a hack, it is proof that technology has flaws.
I think in terms of security, especially protecting our assets, the role of the owner is the main and we must really take care of our assets properly because hackers always target the owners of cryptocurrency assets at any time.

Though the blockchain technology which is backing cryptocurrency is safe, that does not mean that cryptocurrency is completely secure as the cryptocurrency is not backed by any authorities.

As well to trust have limitations currently, even at a point i seem that to build trust is very difficult nowadays, and i know many people are curious to not be victimized from any angle of issues, but the problem is that nobody can escape's problem to hundred percent, which i think you are right from the sentence ( THERE IS NOTHING COMPLETELY SAFE %100) because if you are security conscious of hackers, and if really they wants to trap you they will introduce a methods that is not familiarize with you, so I'm using this as a reference, so the only thing we have to do, is to be careful, simple.

I know that we can’t be 100% right, or maybe leave our lives without having errors in it, but even at that there are still measures that we can follow to avoid issues like this from happening. Ever since I started cryptocurrency investments, I’ve never had issues of my wallet being hacked or maybe an exchange that I’m using been hurt and I lose money or something like that. But, I do see stories of people who experience such things.

Simply because I always follow all these measures to be able to avoid problems that will lead to having my wallets or account hacked. And these are simple things that you can as well do, such as not opening documents or files or emails that you didn’t solicit for, or downloading applications, or packages from websites better unknown, or even clicking links. The next thing is to avoid leaving traces or information that belongs to you online (sensitive information).

yhup correct.. If you're really want to become safe @op from such issue don't trust anyone, and don't ever try to open those messages with links sent from random people around the internet because that's the main reason why people got scam and hack in easy way. Ignore them always and make research as well so that you can obtain more information if its legit or not, indeed all the important information can be found in the internet so i suggest do that way very often especially if you have questions or if want to know a thing about crypto project.. It's a must to be honest and helpful way.

Bitcoin owners are already being targeted online by hackers, and it has been happening from time. So, I don’t think there would be any difference from what is happening and what would happen then. It’s still falls down to people being careful with how they store and make use of their cryptocurrency and wallets, because if you’re the type that is always leaving traces online that would make it easy for hackers to access your wallet, then it’s going to be a serious issue for you, as they would have their way with everything you have in your wallet.

People should learn to not give out information about themselves that would make it easy for hackers to access their wallets, such as their email and the rest of them.

In my opinion, nothing is impossible in terms of hacking, because no matter how perfect the system, there must be loopholes and anything made by humans will not be 100% safe.

but we can still minimize and prevent it by storing crypto wallet private keys in a safe place, not using public WIFI to access crypto wallets, and also using complex password combinations using symbols and others and changing them frequently.
and I think everything will be fine if we treat and use it wisely and very carefully, because most people think it is safe because for years they feel safe. actually security is something we should be afraid of and be aware of so that we can keep our assets as good and safe as possible.

There is nothing completely safe 100% protect when you online. Protected or not depends on yourself. so don't easily trust other people, don't open suspicious sites and don't click randomly. Hackers can't touch you offline so using a hardware wallet is the right choice

I do agree that there is no such thing as 100% security since everything is an online system. It will be harder for business holders to assume every assets are safe. Crimes such as fraud are very much observed nowadays. Finding trusted and safe wallet is a challenge yet its true that crypto is still growing and developers will definitely strive to have the safest wallet to push through the coming years. Will keep in mind the advise tho.

As far as I know, there is nothing 100% safe called an online system, especially when it comes to finance and business, especially bitcoin. many hackers are always committing crimes against the cryptocurrency system that is currently developing. one of the best solutions so that bitcoin assets are safe, delete transaction history or access history every time you carry out transaction activities, so that it is not easily hacked by others

Since cryptocurrencies started, theives have already found it appealing to target. I think security will be always be questioned since some people tend to use wallets that are convinient to use. I hope people do realize its true value and use them wisely.

I really like this conception you have on bitcoin, actually this sounds courageous to new once and also to crypto-novice who is about to establish cryptocurrency investment mentality, bitcoin can't hesitate to reach six digits as you said but is with time factor, and is very encouraging to invest in bitcoin for long time period, some people that invested in bitcoin far back like in 2017 / 2019 is having a lot of benefit now, the same thing is applicable to the price now, if you buy and hold for two years interval probably you make it in time coming.

If it is a human error, it should be no more than once or may be maximally twice.
However, if it is several times, it will be carelessness.
And about the security and safety of the crypto, well, this is online, everything may be hacked although it has a small chance to do that.
And we cannot trust a platform securely 100% because there may be an error system someday, or hacked by professional hackers, or others.
So, just if we can't get 100% safety, at least we are not careless, try to use or choose the most trusted and promising trust highly, last we have tried.

no need to wait for 6 digits at the current price, hackers and online thieves have started doing many ways to steal other people's crypto from spreading viruses to brute forcing or cracking, controll and monitoring someone devices. now it's just how we store our assets in a personal wallet safely. many suggest using a ledger wallet or the simplest is to use a device that is not used for browsing or doing activities on the internet. because the only way hackers get our assets is only with our activity on internet.

But not all wallets are equally foolproof. If I give someone who doesn't know what they are doing a brand new hardware wallet, then provided they simply follow the instructions included with it and the advice about not sharing their seed phrase, then it is actually very difficult for them to do something wrong. If I give someone who doesn't know what they are doing a computer and a printer and ask them to create a paper wallet, then it is incredibly easy for them to mess up and lose their coins or generate compromised keys. Does that mean a properly generated paper wallet is less secure than a hardware wallet? No, and I'm sure plenty of people would argue that the opposite is true.

But the techniques of storage are not. Paper wallet private keys are permanently offline, whereas private keys from an internet connect Bitcoin Core are not.

We don't know that for sure. Maybe Satoshi created thousands of paper wallets on an airgapped machine and imported all the addresses to his mining machine to use for his coinbase transactions.

There is no such thing as the "safest" wallet. It all depends on how you use it. If you run Bitcoin Core on a computer which is riddled with malware, which you regularly use to browse shady sites and download cracked software, then it is absolutely not the safest wallet and you could have your coins stolen in a matter of minutes. Conversely, I could use some horrendous piece of closed source wallet software which is riddled with bugs and vulnerabilities, but use it on a secure, encrypted, airgapped computer, and use it very safely for 11 years.

I disagree. The human is almost always going to be the weakest link in any setup and the reason the coins are stolen, and so it is vital to discuss the human element to using any wallet. I would argue that a properly set up encrypted and airgapped wallet is more secure than a hardware wallet, if both are used properly. The problem is that it is very difficult to use the former properly, while it is very easy to use a hardware wallet properly, and so in the hands of most users a hardware wallet is more secure. A web wallet is probably more secure in my hands than a hardware wallet in the hands of a newbie who types his seed phrase in to any phishing site which asks for it. It is vital to consider the biggest risk - the human - when discussing different wallets.

Everything is having a risk but its normal that we would really be sticking out on things which is lesser in terms of risk and this is really through those hardware wallets which we do have known ones like
Trezor and Nano and i dont trust up any HW but only this two.

Next, is that you should be mindful about your seed phrase which is your main priority.Dont share up dont make it aware on other people and that would at least be making yourself
safe specially if you are really go for long term and holding big amounts of coins.

Just be aware and that common sense is needed for you on at least on making yourself to avoid possible hacks or lost of coins.

Anything can happen online. Humans created the machines, so there will always be a way to get in.
It's just that it requires some extra ordinary skills to hack into a highly secured system.
It's hard but doable and that is where we must put our efforts into. We must create a highly secured system to store our crypto which can't be easily stolen.

actually nothing is 100% safe in crypto.  but there is a good way of anticipating that is by storing it in a hardware wallet such as a nano ledger.  I think it's safer even though there is still a risk gap