Bitcoin Forum

A lot of people have always worried about the security of bitcoin and cryptocurrency which is why they have decided to stay away from investing in it. You must also note that even the fiat money that you may have can also be liable to theft. The earlier you stop giving flimsy excuses, the better. The decision is yours!

You're stating the obvious here, and there's no point even discussing this.

Anything you own, whether it's gold, crypto, cash, or comic books, can get stolen if you don't have proper security measures in place.  That's been known as long as there's been thievery in this world.

Even your wife/husband. Better lock this thread as this will be a nest for shitposters. (oopps merit still needed)

@The Pharmacist is right, everything can be stolen but basically you as the owner will be in charge for its security, no one can be blamed if in case something will happen.

I do not think this is the main discussion related to cryptos. The big difference is the civil liability of organizations that maintains their assets. There are several regulations regarding how and what banks can do with the refusals that others place on their accounts. Regarding the exchanges, their responsibilities are almost non-existent.

What could and should occur would be more security and audit solutions specific to exchanges. But the main thing is that if well guarded, you will hardly lose your cryptocurrencies.

Even because Bitcoin does not exist. You can not save it in a box. What exists is your access to blockchain.

those who plunge into the world of cripto currencies are only those with good mentality. and all things are as small as there are risks, even businesses in the real world such as their rice traders can lose.
 ???

Moreover, I want to say that keeping the crypto currency is safer then other currency. Sufficiently hide the key from your wallet and that's it. But with fiat money everything is different, they occupy a certain space for storage. And if you take them to the bank, then in many countries they will ask questions about where you take the money. It has long been an understandable fact that electronic money is more convenient than cash, and crypto currencies are perfection.

Laughs.... I was expecting to read that mouse can even steal your fiat  ::) Off course it is a fact that anything can be lost. People who are not investing in cryptocurrency are not doing so basically because of being lost but because they don't understand or believe in it.

Japan is probably one of the very few countries that actually does that what you are talking about, but it's not enough to prevent thefts in form of hacks.

Exchanges will always have to deal with hot wallets, and hackers are out to breach their systems in order to withdaw as much value as possible, and have it confirm as quick as possible, which is why they mostly go for altcoins. Bitcoin's "slower" confirmations offer exchanges quickly noticing theft the ability to double spend in an attempt to reduce financial damage.

And yes, even if there is a successful theft, exchanges will likely refund you one way or another, but the refund process will always favor the exchange and not you. Let's say you have 10BTC in your account at today's $6500 value, and the price shoots up to $15,000 not long after, they will obviously only refund you $6500 per coin. In case the value drops to $3000 for example, the exchange will suddenly refund you your coins instead of fiat.

OP if your hardware, where bitcoin is intalled gets damaged, then you may lose it. When you own money on card, if you lose it, you can lock bank account anytime and keep your funds safe, that's all. So I can't see any idea in words "even your fiat is not totally secure", total security doesn't exists in this world too, The Pharmacist said right.

It's hard to tell people. Moreover, in most countries, those who hold all the money in fiat are losing value with inflation and some involuntary issues.

Exactly!!

Anything and everything is prone to the danger of theft or misplacement. So crypto is no exception. And fiat is not secure absolutely, everyone knows of that.

In fact crypto is safer than fiat, everyone knows, and it is a basic argument one may keep to defend the crypto.

Anyhow there is no point in discussing this lame topic!

Exactly! There is no assurance in everything and I can really say that even insurance and our fiat has no assurance because there is instances that we will also lose some of our money due to some certain reasons, and for me securing your fiat in just one bank is not a good idea, we should secure our fiat in different banks as well.

cryptocurrency is not much different from fiat currency. This is evident from the many thefts committed by hackers against customers' money deposited in the Bank, even they can easily break into the banking financial system, crimes will always be there if we are not careful to guard the security of something very valuable

Of course, nothing in this world is completely secure but fiat is still safer than bitcoin. But you know what, only bitcoin can bring you unstoppable profits. even it is risky investment but it is worth trusting.

Yes i agree on that. Many people said tgat crypto is not safe at all. But in my part I will say to them that this crypto is always depend on is. It is risky but the risk is not in crypto we are responsible for our holdings and for our profit. So I think crypto is not that risky. I believe that risk is everywhere and it is not only inside the crypto world it is everywhere.

seriously? of course fiat is not secure also as crypto and other things with value and uses, all things with value looses its market value like porperty, cars, precious stones and jewelries, depending on the uses and trend on the market, fiat is not exempted in depreciation, this is obviously and literally been experiencing by fiats and everybody knows that. 

So I was expecting more of something interesting, I don't know what's the point of view of OP since this is obviously nonsense. Anything can be stole even a kid can stole someone's lollipop. So it's up to us how we secured our wallet, identity and fiat as everything is vulnerable.

I dont think so. We can use fiat money to invest in stocks or real estate, etc .. These are tangible assets and it is always profitable for the holder.

A legion of people is to be anxious about the security of bitcoin and a cryptocurrency which is why they decided to keep away from investing in it. You should also keep in mind that even a fiat money you may have, you may also be solely responsible for stealth. The sooner you start stop the courtesy of the incorrect reasons, the better is. The decision depends on you!

In reality crypto currencies are far more trusted, secure than the fiat one. First layer of protection that we get is, its completely virtual one and no one can physically steal it from you if you are walking down the street and making uncomfortable visits by thefts. Off course in the crypto currency there comes another threat which we recognise as the hacking of wallets but to be honest its very rare that you will end up in hacked wallet because it can only be done with the phishing and nothing else. There is no way to get entered into the crypto without that. Believe me most of the cases that we see as hacking attempts are coming from the fact that they are phished wallet. With extra precaution one can avoid that too.

The theft of fiat is happening to everyone everywhere every minute of every day and no one even realizes it.
It's called taxation and inflation (currency devaluation).
The sooner people wake up and realize that their shitty counterfeit government fiat money is is backed by only by the chains of their debt servitude the better.
Fuck the banks and their shitty fiat.
Fuck their bought off government enforcers and their control through fear and violence.
The new world economy will make them all irrelevant and the minute they no longer control peoples wealth there will be hell to pay.
Not soon enough if you ask me. Which you didn't. ;)

Security not only comes in terms of cryptos only but also fiat currencies needs a lot of security and also most of the scams and spams are happendled with the fiat currencies.
I have sawn a lot of such scams where peoples are scammed with the help of fiat currencies.
Both can be risky but i guess scamming depends on the mentality of the individual.
If you are mature enough, you will not be scammed by anyone in terms of fiat or even the cryptos but if you tend to be new, than probably there are a lot of scammers who are waiting for you to scam your funds.

People who certainly have nothing to want to do, will always look for an excuse not to be a part of something. Security is one thing that can be a problem for someone who is careless and not knowledgeable enough to know how to stay secured in this space.

As long as you are careless with money, the same fate anyone who is in fiat and leaves their debit or credit card vulnerable is actually the same fate they will always experience anywhere they put in funds. It is more like putting gold in your apartment, and then always leaving your door open to the whole world to see the gold you have, with easy access to and then thinking someone will not take advantage of your stupidity.

First money every where is devaluing with time and it is not secure because even dollar is also changing over time and for fiat there is also central banks and departments which are controlling these money and fiat is also not secure.

Yes i am agree that even fiat is not fully secure in the past when we required any of the transaction across boarders there were many problems like if we do it personally we have theft problem and while if we do through banks high transaction we will pay so bitcoin is better than fiat.

This message is for people outside the forum for their various reasons they could come up with about security and they are right thanks to exchange platforms that won't ensure that their security apparatus is up to date to forestall any hacking and are quick to announce to the world anytime they are compromised and funds stolen forgetting the damage such is doing to the entire market.

Security is the least of peoples problem for investing in bitcoin. At least for the people on the forum which this message will be getting to. The concern for them is the value for their investment on how it won't be faced with uncertainties every day they take stock. Another concern for them is the regulation that is gradually creeping into the freedom they have come to enjoy ever since couple with those people flocking into the crypto space to make them lose their hard earned resources.

Just like money, if your bitcoin wallet is left unsecured, then it's going to be found by someone and it's going to be stolen from you. We've been in this forum for so long yet there has not been a report of a stolen bitcoin that wasn't the person's fault. It was either stolen by someone around them or they got confused and uploaded the private key instead of the wallet's address. I think people are more worried about bitcoin turning out to be just one huge scam and millions of people got tricked by it. I don't worry about that for I understand this stuff and how the price of bitcoin ended up to where it is right now. To simplify, people are scared of what they don't understand and bitcoin's simply one of them. Sadly because they are not putting the effort to enlighten themselves about the topic.

Sometimes you cannot blame them for being worried about it. Crypto is so young and there is not guarantee that you could really rely on it. Fiat is good at all times since it is still being used by all people around the world. But also crypto can be a good alternative investment that you could put your money in for the meantime.

Your Fiat currency is under more attack than most people think. You have to deal with counterfeit currencies and also with ATM scammers and pickpocketting.

The criminal element will always be there, no matter what currency you use. As long as something has value, it will be a target for these criminals and we should just accept that.

Currently more Fiat currency are stolen and hacked than most bitcoin hacks combined, so deal with that.  ;)

It doesn't make much sense to stay in fiat as an investment. Inflation can put the value of money into trouble in every country. Instead, we have to turn to the foreign currency, gold, cryptocurrency and share.

It's not just about stealing. Crypto-currencies are in a much more risky area of ​​finance than fiat money.

fair enough but what happens if your money is stolen from the bank due to their security. I am sure they'll return it back unless its everyone who gets hit by the security glitch. I agree that your money is not secure anywhere but I doubt crypto is more secure than bank at this point, eventually in the future it will become much stronger and I think its much easier for you to keep track of your finance if you have it on your hand instead of third party. perhaps that's why hard investment is good for long term.

Even someone else's life is prone to it dude. Anyways, but with some fair regulations, tips and other similar security measures in crypto at least there is a percentage that we can assure of the security although it isn't totally a 100% in its way.

that's right, everything we have always have risks, depending on how we can minimize the risk

many things can be done to secure our assets in any form. I think we all know how to deal with it, even though sometimes we are complacent, and cause losses. for that, keep discipline in keeping it

As I wrote several times, the dollar is provided first of all by TRUST. Because it is stable as ... like a dollar. There are decades, centuries, and one dollar as it was, so it is. And in America, you in any store will accept at face value the dollar of the 1918 issue. Or, most likely, more expensive, as a rarity. And try where to put up with the ruble of 1918? Unless to numismatist .... And with dojmarka? And with the franc? And with tugriks? Yes, it also depreciates over these decades, and right now at $ 1 it will turn out to buy less goods than 100 years ago. But in comparison with the ruble, for example ... Only in the past about 30 years it has depreciated about 25,000 (twenty-five thousand) times. And in the course of the entire 20th century, the ruble depreciated by a total of 500 trillion times. Who does not believe - can count. Yes, the dollar is not an ideal tool. But until they came up with the BEST. Or maybe ktonit here knows that, except crypt and gold can be better than the dollar? From fiat funds?

It is proven that FIAT is not secure, i had a bank account and worst thing i lose some amount.
I never used my account for shopping as i make sure that i have cash in my wallet as always.
But still i got a debit from my account. i filed a complaint in my bank and they gave the money back though, still! it is not good to have.

There is no money that is secured when you give it the little protection. I left my money with inadequate security in my wallet and it was unfortunate for me being hacked within that moment.

anything can be stolen, depending on us securing it, afraid to invest in cryptocurrency because of security? do those who say they already know, what is cryptocurrency? if they don't really know what is cryptocurrency , they are afraid to invest, but if people who already know and have made profits from bitcoin, they will continue to believe in bitcoin (the world of cryptocurrency).

Yes even fiat money is also not secured nowadays. That's why people afraid about security of cryptocurrencies. Even it is stored in secured wallet sometimes money can be hacked.

I don't even know how the OP got a shred of merit. It is nothing original tbh. He is just stating what is currently continuously happening, although I suggest for the OP to revise the topic and discuss the security of crypto in some other ways rather than those obvious password character limits and such.

I do not think this is the main discussion related to cryptos. The big difference is the civil liability of organizations that maintains their assets. There are several regulations regarding how and what banks can do with the refusals that others place on their accounts. Regarding the exchanges, their responsibilities are almost non-existent. What could and should occur would be more security and audit solutions specific to exchanges. But the main thing is that if well guarded, you will hardly lose your cryptocurrencies.

.I do agree with you as regards those preferring safety of fiats over cryptocurrency investment. I did have a discussion today as regards  facts that keeping money/fiats in banks is even as a loss and an old school mentality. One is also at the risk of inflation affecting one's savings in banks overtime. So, I am of the better opinion of having ur life savings in real estates, cryptocurrency and other legit businesses rather than having it stored or wasting in the banks.

The possibility of hacking Cryptocurrency is a million times less than possibility of stealing the money from your pocket. You just need to be careful and keep the private key in a safe place.

What the OP nay be talking about is the fact that we put so much trust in banks
that they can at any time decide not to give our money out when we want it.
Also credit card fraud is easier than crypto hacking.

I keep on advising people that there is nothing like secured investment because every investment and business has it own challenges and crypto currency is not an exception to this fact, if you are thinking of security then you can never invest in any thing at alk. Because business has to do with risk taking that is why they said no risk no rewards, all investment ranging from gold, real estate and all others has risk involved even the banking system is a risk so in order to succeede you must be ready to take risk.

but at least if we save money in a particular bank or financial institution we are guaranteed a security for the money that we save up to a certain amount, so when bad things happen to our money we will get a replacement from the financial institution with the same amount

I think it does not happen all the time.There are instances that we may get lost our money not just of the thieves outside,but also of the people or the employees who are considered thieves inside the bank.In my country,a lot of the same cases had already happened because of the connaivance of the people inside whom we entrust our savings.

If bitcoin saying that is not secure but this is not most of the time we know those who are scammers even in fiat or in banks our money is not also secure sometimes some of banks here in my country we are experience glitch of our account in banks so it means sometimes the security will lose or it not function so dont afraid to invest in bitcoin make it sure that is not scam.

Absolutely, there is no point of discussing this topic. Probably she/he should read more and more before dealing to this forum otherwise she/he talks nothing here. Everything or every investment is not secure from steal, but each has a standard security measurement including Crypto currency.In crypto, as long as the users keep the security private key, it will be safe and secure.

I agree with this. One of the things that fiat and cryptocurrency have in common is that both involves risk. How many times have we heard of a credit card fraud or even just a person screaming that their wallets has been missing? I think it all just depends on how smart you are at handling your money, whether it is fiat or crypto. If you are careful, then you will be fine, but if you are careless, then it is more likely that you will lose not just your hard earn fiat, but also your bitcoins and/or altcoins.