Topic: What about Bitcoin and consumer protection? - page 2. (Read 1201 times)
Bitcoin offers no protection for consumers and some people have no problem with that but for it to really rival banking and fiat there would have to be something like that otherwise the general public will not use it for everyday use
The most important problem in Bitcoin is lack of consumer protection . Since there is no intermediaries in Bitcoin transaction there is no fee for the transactions done the transaction is done only by the user and dealer ,the identity of the person is not revealed because Bitcoin is digital and decentralized in nature .The protection is secure for the consumers in Bitcoin since all the transactions are recorded in a global ledger known as blockchain and this is like a bank statement the common way to sell or buy Bitcoin is to use an exchange.
I think first of all you should know the origin of bitcoin clearly and understand exactly how it works
It is like your paper money, it will not go to the hands of the scammers if you will not give it to them.
There is a risk to everything.Btc isn't free from risk.Here are the risks involved in investing as well as profit by investing here.The profit is because Btc prices aren't stable, it's volatile.And consumer protection isn't here.Can be hacked anytime.So be very careful and have to be protected.
Yes we have to take care about our bitcoins with carefully because of we did anythings wrong we will loss our bitcoins or money, so all is our hand only because of our money we have to take care about that.
if you want to protect your bitcoin and avoid scammers you will cash out immediately if your wallet is empty and you do not have to hold it for a long time so you can be sure of your income.
how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
no one can guarantee you, which can guarantee you only your own observations and knowledge. if both of these things do not have you should not invest first. better you seek knowledge first.
On the basis of its existence is consumer protection it is very important to create a scheme of accountability to the user what if there is a problem but in this case bitcoin there is no protection or regulation in bitcoin and there is not enough security guarantee on bitcoin funds even though bitcoin has no rules yet more and more users are entering the bitcoin forums.
Self-education about security would definitely help you to avoid scammers. You should really learn how to protect yourself from scammers, and form a habit to avoid it.
That is what bitcoin was created for to protect the consumers from the thieves,or the banks that might steal our money,decentralization is the main aim for these things,which is why consumers can enjoy a tax fee and anonimity transactions without any hassle.As long as you are protecting yourself from these hackers who might stole your private keys,you are good to go.
how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
If your question is how will your bitcoin be protected to scammers will be up to you. If you dont give your btc to the scammers then it will not go to them. It is like your paper money, it will not go to the hands of the scammers if you will not give it to them. With regards to the stability of bitcoin, bitcoin is very stable but its value is a subject to volatility that means that it has the tendency to inflate or deflate in value.
Yes the protection is on our hands so we can make your Bitcoin away from scammers this is the way to make safer bitcoin usage and it will not big thing to do just do it simple and keep it simple.
how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
The truth is that there is no way you can be sure that your money would be protected form scammers/hackers. We can see many hacking incidents where people have lost millions of worth of cryptocurrency and it is still going on. We just have to be careful in this case and keep the private key safe and not publicly speak about how much BTC you own.Stability of BTC is not guaranteed either because if BTC was stable then we would have not reached this price yet. The volatility of BTC is what made is price reach so high. It might go down as well as it went recently and so we must hold/trade it wisely by keeping a watch on the market.
how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
Its the same whenever you are dealing with cryptocurrency the way we deal with physical cash. Its always good that we only transact with known places or thise held in high regard with reputed people. Its also best that we only use our own peripherals whenever we are trying to put in or to use our cryptocurrency wallet and our bitcoin coins. We need to understand that we the owners, the users are in sole control of whatever we choose to be protected and it starts with us
how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
For protecting your money from scammers, deal with reputed people only on places like localbitcoins or even on this forum itself. You can also make use of escrow for larger deals.
Bitcoin protection is one of the problems of every Bitcoin users in this investment or even in the holding of Bitcoin in Crypto Industry. Digital Wallet is one of the solution that every I.T experts uses and creates that can potentially help on bitcoin protection. In Digital Wallet we can generate Private Keys and Bitcoin Address that uses in any transactions but as some people has trust issues we can't trust some Wallets because "What if the wallet creator hacks all bitcoin that was his/her wallet holding?". As a human, I also want to secure my money.
As my opinion and advise don't trust easily on other Digital Wallets that are spreading in the market. Think before choosing the Wallet that you will use. Secure your own money.
As my opinion and advise don't trust easily on other Digital Wallets that are spreading in the market. Think before choosing the Wallet that you will use. Secure your own money.
how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
Get yourself a hard wallet ti protect your assets from fraud, scams and hacks. If you have that much btc, getting a hardwallet wouldn't be such a big thing. Now with how you'll know the stability of bitcoin, it's useless to even try since btc isn't stable at all and no one can do anything about it
Bitcoin and Consumer Protection is same as Cash and Consumer Protection or Gold adn Consumer Protection.
You can use a physical wallet to protect your bitcoins. Regarding price stability, we cannot do much about it, just invest for long term and you should be fine.
in Bitcoin transactions it is difficult to embed consumer protection laws in them. Bitcoin can be observed from two sides, namely as a commodity invested (as well as gold) or as a means of payment in transactions. Law No. 8 of 1999 on Consumer Protection states that a protected consumer is an end consumer. So, investors are not the final consumer.
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