The reason why Bitcoins is the safest system

ngalamunan

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Quote from: AlexAtom on September 11, 2018, 10:17:02 AM

Quote from: fiulpro on May 29, 2018, 02:24:26 AM

Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .

First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.

The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.

It's on you how safe you make it .

There won't be any reason for bitcoin security because bitcoin and cryptocurrency is secure in the first place.
Cryptocurrency is the encrypted currency, which is nearly impossible to hack your key.
The holders of the coin is the one who should secure themself. Like learn how to protect their wallet.

because bitcoin is very strict with its security from being stored in the wallet and only we know the account and the password. besides being stored in the wallet sometimes coins are also stored on the hardware. so bitcoin is very safe. and we always open it every day to invest.

TaliskerDarkStorm

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Umm, apparently you got a point but still there will be some risks when it comes to crypto or bitcoin. This is a risky world. We can’t deny that. But as you said, we can be more careful so it’s kinda up to us to make it more safety.

brianross7

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Quote from: fiulpro on May 29, 2018, 02:24:26 AM

Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .

First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .

That's totally right. Bitcoin is created by complex mathematics which is called blockchain technology so it's seem not be able to get hacked. The security of your account depends on your activity. You could accidentally display your private keys, password or wallet somewhere. In my opinion, we should be careful for our account information while payment or trading.

Piggymonster

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The safety of your money depends on you, whether it is in the bank or in bitcoin. Bitcoin offers no insurance policy, if your money is stolen or you send it to the wrong person then there is no way to retrieve your funds. So you should be very careful, keep safe your private keys and make sure that your are transacting with the right person you will send your money. Bitcoin is a also complex so you should study more about it, do some research about wallets and how to keep safe your private keys.

yamete kudasai

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Bitcoin is a digital currency and decentralized network of users , there's a reason why is bitcoin is the safest system because it is secured and safe for earning / depositing the money that is earned , Bitcoin’s software network – the server farms and terminals, run by individuals or groups known as miners, whose efforts to produce new Bitcoin units result in the recording and authentication of Bitcoin transactions .

H1N1

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Quote from: fiulpro on May 29, 2018, 02:24:26 AM

Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .

First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.

The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.

It's on you how safe you make it .

Well yes, bitcoin is a very safe digital currency because the only one who can move your balance is the owner only.
If digital currency in fiat, the 3rd party company can move your balance, but they won't do that, they only maintain it.

qwerty12

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Quote from: fiulpro on May 29, 2018, 02:24:26 AM

Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .

First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.

The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.

It's on you how safe you make it .

Yes, I agree with you. Bitcoin is the safest system. Bitcoin transactions are carried out through the public network, cannot be forged, and cannot be modified after being validated by several nodes on the blockchain. Transaction data cannot be used to resend payments, because transactions are only good for recipients who can unlock the transaction by having the right key.

Because Bitcoin is a decentralized system, it drives several security and control responsibilities to the end user, especially the responsibility to secure the private key used to validate transactions.

pavka

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The New Pharma-Centric Marketplace

The safety of bitcoin also largely depends on the fact that there is no specific person behind the creation of this crypto currency. Nobody knows whether Satoshi Nakamoto really exists or this is a fictitious character, which means that there is no person or group of persons who can be influenced.

Trustor

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I do not think it is the safest currently but it definitely is the future of digital money around the world. Though it has the potential of being the safest and the most convenient system if the frauds around it can be controlled with some rules and regulations. Banks are the safest system no doubt.

maskeffec

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Bitcoin is the safest system because bitcoin is developed with the great decentralized system and latest blockchain system that is the best technology in this latest era of technology, that is the main reason that is why bitcoin is the safest system.

jerrison

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the reason why bitcoin is the safest system is not far fetched. it is all tied to the fact that the features of the bitcoin or the blockchain technological framework was designed to function in such manner and those are the things that makes the system what it is. it has to be transparent and immutable.

BillyBee

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In fact, Bitcoin is not protected as it claims. Blockchain is the most reliable and secure system and bitcoin is a complete blockchain-based system, which is why it is the most secure system. This is similar to the physical cash stored in digital form. "First of all, if you own a bank account at a good bank, you should know that it is very difficult to hack your bank account, almost impossible unless it is done by personal fault, Your bank account or key know the system behind Bitcoins and the system behind the banking system is the same. "I have been working in a global bank for more than a decade and while I know That the security measures are extreme, it is not impossible for the account to be attacked. Identity theft was on the top of the list. And that is not due to personal flaws.

Rafael.angelo

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Yes you're right. It is very difficult to own a good banking account in purview of security but that is the exact reason for the creation of bitcoin or decenyralized network i.e. blockchain as such.

Ale75Opus

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Quote from: fiulpro on May 29, 2018, 02:24:26 AM

Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .

First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.

The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.

It's on you how safe you make it .

You are absolutely right. I heard complaints from people many times that their wallets were hacked, but in the end, it turns out that they themselves were carefree and not too reliably kept their private keys. Roll Eyes

Haleyyy

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I think Bitcoin is not the best system yet. Examples are past events such as June 2011: Bitcoin hack worth $ 500,000; 3/2012: Bitcoin Bit Hacking 60,000 Bitcoin; 8/2016: Bitfinex has hacked 120,000 Bitcoins, and many more in the past and in the past.

GinXenPhengz

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The most common disadvantage of Bitcoin lies in its user error. Bitcoin wallet data that stores private keys can be accidentally deleted, lost or stolen. This is similar to physical money stored in digital form.

ellorinjeff

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It is safe to store bitcoin because ot is decentralized.The government has no hold and control over it.You just have to secure your private key for your bitcoin wallet and do not click any suspicious link.

ShowOffoN

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"First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same ."

I beg to disagree on this. I have worked in a global bank for over a decade and while I know that the security measures are extremes, it is not impossible for the accounts to be hacked. Have you actually looked at the statistics of bank frauds over history? Identity theft being on top of the list. In the US alone, there were 16.7 million cases with a cost of $17 billion by the end of 2017. And those are not because of personal flaws. Hacking are done by big time syndicates whether in banking or in bitcoin.

Dofotonomo

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Bitcoin wallet data that holds private keys can be erased accidentally, lost, or stolen. This is similar to physical cash stored in digital form. Fortunately, users can apply security measures to protect their money or use the services of providers that offer high level security and insurance against theft or loss.

Charlessy

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Quote from: Bangete on September 04, 2018, 10:48:26 PM

according to the science that I got and I've tried is this bitcoin is that we control the unrelated ones like banks, and many more

You really are right. Bitcoin is one of the safest systems in the world, because the way it works through the security network in blockchain where one server protects another data server, so it is very difficult to manipulate data for illegal purposes. Besides that, for transactions in peer to peer, making it easier, faster and cheaper

Topic: The reason why Bitcoins is the safest system (Read 4590 times)