Topic: What Are Your Greatest Fears As a Bitcoin Holder? - page 29. (Read 7368 times)
Of course as a bitcoin holder i always wanted to keep it in good shape, in good rate, in good profit that’s why my greatest fear is when worst strikes such as crashing and losing my investment, but i dont think so it will happen, i trust it may go up and down but never go on dying because i believe this will be more popular in the coming days
I think one of their fear is their account had been hack by someone and all their bitcoin was transfer to another account and had been cash out....
My greatest fear about bitcoin is when my wallet is being hack again like what happened before. All my token got lost and i feel bad that time i always asked my self what if that will happen again. Do i continue bitcoin
Right now, bitcoin is on a roll. We have no way of knowing what its real value might be. The peak of a run might well be some way off. But when a crash comes, it won’t just be its holders who feel the pain.
The only thing that scares me with my bitcoins is when it becomes impossible to cash out meanwhile nobody (merchants) accepts bitcoin as payment. But I doubt it would happen because the silk road will always be there to accept bitcoins.
Same here, I fear that bitcoin's system will come to a problem that it is impossible to cashout or an issue that may affect is retailers and services rendering bitcoins unusable though based on how it is established today I think there is a very low chance almost next to zero for it to happen.
Losing it I guess. This "losing" could be stealing or hacking. It even means "fall on it's value". Let's just say, I have bitcoins which is worth 50 grand USD or more. Then suddenly I have the same amount of bitcoins but it's not 50 large anymore. I lost lots of money without doing anything wrong.
I think the two main risks are:
1) Getting Hacked - The risk can be greatly reduced, by using secure WiFi and protecting your computer etc.
Im actually not super worried about this, as the 256 bit encryption is as good as it gets + 2 step verification on your wallet should keep you safe.
2) BitCoin Crash - To wake up some day, and everyone is selling because society for some reason lost hope in it
1) Getting Hacked - The risk can be greatly reduced, by using secure WiFi and protecting your computer etc.
Im actually not super worried about this, as the 256 bit encryption is as good as it gets + 2 step verification on your wallet should keep you safe.
2) BitCoin Crash - To wake up some day, and everyone is selling because society for some reason lost hope in it
Biggest fear.... Exchanges going under and running with peoples money.... or no exchanges left to cash out for fiat.
Which show to us that exchanges are a weak point of bitcoin and it seems that is going to be the case for a long time, however, that does no mean that is going to be the case for the long term, decentralized exchanges are being developed so your first fear will be avoid it, your second fear is more difficult but I think there is going to come a point where people are going to accept bitcoin directly.
Bitcoin price is rising from last one year. It is now around $15000. Those who have purchased it cheap are the happiest persons. Bitcoin have given a lot to its investors. Rising price of bitcoin is raising tension of its investors. Due to higher price hackers have become active, for them bitcoin hacking is the best way of getting bitcoins. Bitcoin investors are worried about their investments being gotten stolen. Second biggest fear is busting of bitcoin price bubble. Many experts are calling bitcoin as a scam or a bubble, bitcoin price is over inflated by speculators.
My greatest fear as for now is tendencies to see bitcoin crashes or bitcoiners rushing out to convert their bitcoin to US dollars like what happened in December 2013 when Bitcoin first hit $1,000. I hope this time it is different though. Many are already converting their bitcoin to cash and this is leading to the decrement in the value
Bitcoin price will fluctuate to lower price and fears in hacking because the I can do nothing to return to me because unlike in the bank if your money is scammed it is possible to return back your money.
My greatest fear is when no one accepts or buy cryptocurrency, most especially if the government ban it. But i think it wont happen because cryptos are getting bigger.
Other than that, im also afraid of hackers. They might hack bitcoin or any crypto wallets. Hope our wallets are protected from those hackers.
Other than that, im also afraid of hackers. They might hack bitcoin or any crypto wallets. Hope our wallets are protected from those hackers.
"Hacking and scams remain the top risk for Bitcoin holders. Exchanges that shut down or passwords stolen from devices can easily wipe out a person’s bitcoins. Moreover, governments and central banks from various countries are starting to impose limitations on the use of cryptocurrencies.
Digital coins clearly threaten the political and economic establishment, and the regulatory environment can quickly change with the stroke of a legislative pen. Banks and governments typically use familiar language in the media, such as the need to protect consumers from new risks.
We are hearing familiar talking points from politicians who are getting pressured from the banking lobby. It seems that the root cause of the status quo’s actions in 2017 is to protect fiat currencies and traditional financial interests. Competing digital coins represent a potential end to the government’s monopoly of the monetary system." - Bitcoin.com
What are the top risks for Bitcoin holders?
Just like you quoted, the topmost risks of bitcoin are that of hacking and scamming. Add to it are the continuous attack from various countries' governments and their agents.Digital coins clearly threaten the political and economic establishment, and the regulatory environment can quickly change with the stroke of a legislative pen. Banks and governments typically use familiar language in the media, such as the need to protect consumers from new risks.
We are hearing familiar talking points from politicians who are getting pressured from the banking lobby. It seems that the root cause of the status quo’s actions in 2017 is to protect fiat currencies and traditional financial interests. Competing digital coins represent a potential end to the government’s monopoly of the monetary system." - Bitcoin.com
What are the top risks for Bitcoin holders?
I need to add that among the scams include some fake ICOs.
As someone holding a small amount of bitcoin, one of my greatest fear is that it would pop out to nowhere and be gone forever. Its most likely to happen nowadays due to its volatility and very bad chart that sometimes goes down to half in just a few hours. Ill always fear of the very high risk that bitcoin exhibits.
Greatest fear are when our government ban bitcoin, when our local exchanges have been hack and no more way to convert to our local fiat to cashout, when the government impose tax, and lastly when my pc got crashed and never recover my files because all my password, PK are saved on my pc. Another one I almost forgot when my android phone got lost because I put my 2FA code there.
Me too. With the way btc is being received right now, and if it continues to rise in value, governments may put too much attention in cracking down btc. With bitcoin being my primart source of income, that would be a very big blow to me
My fear is much more about the decreasing the price of BTC and losing money.
Yeah losing money is my fear too, but the most i scared about bitcoin is those people who expert by hacking. If that happen they can be gone our bitcoin in just one click.
Nice one, there is no fear anywhere because banking system do have their own challenges. That mean life is full of risk. We must take risk in any Biz we re doing. All hand must b on desk for the progress of bitcointalk. Therefore password must be kept secretly. Thanks
My fear is much more about the decreasing the price of BTC and losing money.
Greatest fear are when our government ban bitcoin, when our local exchanges have been hack and no more way to convert to our local fiat to cashout, when the government impose tax, and lastly when my pc got crashed and never recover my files because all my password, PK are saved on my pc. Another one I almost forgot when my android phone got lost because I put my 2FA code there.
I fear that bitcoin's value would drastically drop, as all the hopes and dreams would drop as well. Another is my fear of the hackers. We are living in the 21st century, and it is not impossible for some people to get through one's account and rob everything in a click.
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