In my opinion, crypto cannot be hacked as long as we understand and know how to store Bitcoin assets correctly. Most hack cases are due to the user's own negligence.
Bitcoin is about accuracy, thoroughness and our own management of it. We are the bank itself. So, sending and storing errors are borne by ourselves, unlike the bank, if something goes wrong with the customer's funds, it is the bank's fault and the bank is responsible for it.
Topic: The risk and reward of having Bitcoin - page 7. (Read 975 times)
The high volatility that you said a disadvantage is actually the best asset for bitcoin because without it, you will not see bitcoin investors suddenly turn into filthy rich. That's why no matter how risky bitcoin is due to its high volatility, people chose to take its risk rather than avoid it.
However, those disadvantages you've mentioned will only be possible if you rush investing in bitcoin without educating yourself first. As an investor, you should know your investment well, otherwise instead of seeing it as a means to make you rich in the future, it might be the reason to see you struggling in your finances or worst made you homeless in the end.
All types of investment has its own risk and rewards. That's for you to assess yourself if you are capable to manage and overcome those risks. If not, then it's better not to force yourself to invest so that your money and time will not go into waste.
However, those disadvantages you've mentioned will only be possible if you rush investing in bitcoin without educating yourself first. As an investor, you should know your investment well, otherwise instead of seeing it as a means to make you rich in the future, it might be the reason to see you struggling in your finances or worst made you homeless in the end.
All types of investment has its own risk and rewards. That's for you to assess yourself if you are capable to manage and overcome those risks. If not, then it's better not to force yourself to invest so that your money and time will not go into waste.
disadvantage of having it
Most of these are typically the normal disadvantages but they're not so bad at all. I'll give my thoughts each of them.*The high volatility attach to it can be very risky.
It's 50/50 on this. The volatility of Bitcoin gives us the reason to hold it for so long because of how it fluctuates, without such, I don't think people will hold it.* It's not generally accepted by all.
Not yet.* It can be stolen if your system is hacked.
We all should be accountable for anything bad happens to our computers and wallets. A penetration won't actually happen if you don't do anything with your PC or wallet. Unless you download something malicious, there's no way a hacker will find and penetrate to your system.* It's almost near impossible to retrieve if sent to the wrong address.
It's actually impossible to retrieve it unless the receiver sends it back. But here me out, how are you going to send it to the wrong address if there are too many characters consists per wallet address. The only way to make this happen is when you copy a wrong address and become a victim of a copy paste malware. 
There's nothing worth having that won't require you pay a little price. In every business, there's the certainty that there'd be ups and downs and Bitcoin is no different. Only, you have to invest with what you can afford to lose. For some, the idea of Bitcoin being volatile can be appealing because it can quickly surge after it most have gone down but some too afraid to involve themselves and these group are mostly those have the mentality that it's a get rich quick scheme that has no downside.
Then again before involving yourself in any kind of business,it's necessary to DYOR so it can help prepare you for what you are getting into. Just as the op has stated about the risks, there are many more and I'd like to include FUD as one of the risks because when you entertain such, it will make you miss out.
Then again before involving yourself in any kind of business,it's necessary to DYOR so it can help prepare you for what you are getting into. Just as the op has stated about the risks, there are many more and I'd like to include FUD as one of the risks because when you entertain such, it will make you miss out.
in everything that involves profiteering lies both advantage and disadvantage but what we
need here is proper understanding and not just believing what have been said by others because a simple mistake
will end you losing everything so the best weapon is study and never to become greed that is the better approach
here.
need here is proper understanding and not just believing what have been said by others because a simple mistake
will end you losing everything so the best weapon is study and never to become greed that is the better approach
here.
Your risk points are based either on investing recklessly or on not knowing how to protect your coins. If you created your wallet in an AirGap system and the entropy was truly random, and you stored your seeds correctly, then the chance of losing your money is almost non-existent.
The investment must be long-term, for two halving cycles on average, to avoid any real loss. It is true that it may not be the ideal investment, but adding Bitcoin to your investment portfolio is considered a smart move.
Bitcoin will always be the smartest way to invest but we can also try acquiring some good altcoins readying when the market bulls . The investment must be long-term, for two halving cycles on average, to avoid any real loss. It is true that it may not be the ideal investment, but adding Bitcoin to your investment portfolio is considered a smart move.
I am glad that Bitcoin is highly volatility, this is why I am still confidently accumulating Bitcoin, if the price is stable why would I want to acquire so much of it? Volatility is like a regulator for Bitcoin, it stables everything, and that's why brings in more adopters and that's what also create winners.
It's normal that not everyone will accept Bitcoin generally, it's a decentralized digital asset, and that use case isn't for everyone anyways, I am into Bitcoin not only because I can make money by holding it for the long term, I also need the decentralization badly because of what and what my government have been doing with it's people, monitoring your income stream and your bank account is normal to them.
If money is lost in your bank account you have the bank to blame and they can get it back for you, but Bitcoin gives you total custody of your asset, you are in control and if you misplace your recovery seed or private key its your own fault, if you can't take responsibility you should not buy Bitcoin.
It's normal that not everyone will accept Bitcoin generally, it's a decentralized digital asset, and that use case isn't for everyone anyways, I am into Bitcoin not only because I can make money by holding it for the long term, I also need the decentralization badly because of what and what my government have been doing with it's people, monitoring your income stream and your bank account is normal to them.
If money is lost in your bank account you have the bank to blame and they can get it back for you, but Bitcoin gives you total custody of your asset, you are in control and if you misplace your recovery seed or private key its your own fault, if you can't take responsibility you should not buy Bitcoin.
There is a saying that what ever had an advantage also had a disadvantage, why am saying this is because most people especially the newbie's thinks when having Bitcoin the situation is always win win win. So I will be listing a few of the advantages and disadvantages of having it.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
Not so sure if there is even one that can Hack Bitcoin system(at least not in our time now?) so the hacking will happen because of users laziness to keep them safe and that is not the system.
Quote
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
But always consider that the Fee may increase so even if it is available but your capacity to tolerate the transaction fee is the most important thing.* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
*The high volatility attach to it can be very risky.
High volatility is also an advantage of Bitcoin. We can always buy when the price goes down and sell when it high making some profit. Without the fluctuations in price, investing in Bitcoin might not be attractive. Quote
* It's not generally accepted by all.
That is true but you can always change Bitcoin into fiat anytime you want to make payments.Quote
* It can be stolen if your system is hacked.
No wallet is 1000% protected from hacks but it is possible to keep your coin secured from attacks. All you need to do is study wallet security, choose the right wallet, and avoid exposing your wallet to risks. Quote
* It's almost near impossible to retrieve if sent to the wrong address.
One can also lose fiat money if it is transferred to the wrong account number. This is why one should pay attention to details when carrying out transactions in the crypto space. The nonreversibility nature of Bitcoin after confirmation is for security and to avoid fraud. 
Hey we need to consider on simple thing that without any volatility there cannot be any profit and if someone wants to earn profit without volatility they need to get into traditional investments like real gold but gold's slow growth rate cannot beat inflation and one will still be behind when it comes to finances and Bitcoin has its own pros and cons like we cannot retract a wrong transaction a these are human errors and I would say Bitcoin may be volatile for non crypto users but for someone familiar to Crypto knows that it's the most reliable asset one can have.
The only real disadvantage I feel is the exorbitant transaction fees which we see during network congestion or bull run it's something which creates hurdle when we want to make some transaction on urgent basis and you realise transaction fees are more or equal to the value you wanna transfer.
The only real disadvantage I feel is the exorbitant transaction fees which we see during network congestion or bull run it's something which creates hurdle when we want to make some transaction on urgent basis and you realise transaction fees are more or equal to the value you wanna transfer.
Saying high volatility is risky and making you rich at the same time doesn't make sense, if there's no volatility, how you can earn from your investment?
Bitcoin isn't accepted in every country, but it doesn't have to be accepted nor it must be legalized, that's kind of centralization.
Retrieving coins sent to wrong address is correct, but that's not a disadvantage since it was a human failure, not Bitcoin failure.
Bitcoin isn't accepted in every country, but it doesn't have to be accepted nor it must be legalized, that's kind of centralization.
* It can be stolen if your system is hacked.
Any hack that related to Bitcoin mostly related to CEX failure, poor wallet, ponzi, lending, and human failure. System, which refer to Bitcoin on chain network, when did Bitcoin network ever get hacked?Retrieving coins sent to wrong address is correct, but that's not a disadvantage since it was a human failure, not Bitcoin failure.
Your risk points are based either on investing recklessly or on not knowing how to protect your coins. If you created your wallet in an AirGap system and the entropy was truly random, and you stored your seeds correctly, then the chance of losing your money is almost non-existent.
The investment must be long-term, for two halving cycles on average, to avoid any real loss. It is true that it may not be the ideal investment, but adding Bitcoin to your investment portfolio is considered a smart move.
The investment must be long-term, for two halving cycles on average, to avoid any real loss. It is true that it may not be the ideal investment, but adding Bitcoin to your investment portfolio is considered a smart move.
There is a saying that what ever had an advantage also had a disadvantage, why am saying this is because most people especially the newbie's thinks when having Bitcoin the situation is always win win win. So I will be listing a few of the advantages and disadvantages of having it.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
disadvantage of having it
*The high volatility attach to it can be very risky.
* It's not generally accepted by all.
* It can be stolen if your system is hacked.
* It's almost near impossible to retrieve if sent to the wrong address.
advantages of having it
* It can make you filthy rich during the bull run.
* It decentralized, no third party like banks and financial institution.
* It's a self custodian asset, the privacy is priceless.
* It's very accessible at any given point in time.
I don't know if I missed some that I didn't mention.
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