Bitcoin Forum

Crypto is praised as currency of future, 100% secured way of transaction. my question is how?

-If you have money in bank or invested in stock or somewhere else regulated by government and you dies, bank/stock exchange will contact the nominee when the account goes inactive. but if a person who hold crypto dies, nobody will know about this so the money is lost forever. if the person decides to share the crypto details with someone then its not really a "secured" currency.

-If someone stole money from your bank/stock/credit card account, it can be tracked where the money went and can be recovered by filing complaint with your bank or authorities. but if somone steal your crypto there is no way to get the crypto back.

So how is this a currency of future, did anyone asked these question before?

Bitcoin is very secure. I have never lost a single satoshi to a hacker or scammer. The question should be, is the person holding the bitcoins security conscious? Are they doing more than enough to secure their Bitcoins?

The whole point of decentralization was to bring the control of your funds to you and not some third party service.
It's all up to you as the owner of bitcoins. You can always inform your most trusted family members about what you own. You may not provide them with the Private keys and other login details but you can keep them in a safe place where they can access then in case you die, just like some people keep important documents in Bank vaults.

Again, the money is yours to protect. If you are careless with it and it ends up getting stolen, then the blame is entirely yours.

CryptoBitcoin being potentially the currency of the future doesn't automatically mean that it's 100% perfect because it's definitely not, and nobody in the right mind is saying that it is.

With that said, your 2 points are definitely obvious flaws, and people are yet to figure out a good more-feasible solutions for them(than the typical write down instructions on a piece of paper etc). Having true ownership and having self custody really also has it's drawbacks. People are calling bitcoin the currency of the future due to the mistrust in central banks or with banks in general, not specifically because of it's user-friendliness.

Well, you are talking about the security from a different perspective. It's not really the security of transaction you are mentioning here. It's the security of passing the ownership only.

Yes, bitcoin transactions are not reversible unlike banking transactions. It is because bitcoin is not controlled by a central authority. So if you have sent out a transaction mistakenly, there is no way to get it back unless the person refunds that through a separate transaction.

The kind of security you are mentioning, is already available in the current banking / legal system. Bitcoin can't be compared to them because it is quite different structurally. If you want to pass your bitcoin holding to your next generation, simply create a will with your private key and keep it under safe custody with a process map to redeem the money. Probably that will help!

There are many ideas how to solve the inheritance problem, for example here (https://bitcointalk.org/index.php?topic=5180850.0).


There's actually no guarantee that your money will be returned if they are stolen from your bank account. If you react quickly and notify the authorities and the money is still in the thieves account, you have a chance, but if they withdrawn or moved them, then it's much less likely.

Essentially, Bitcoin and banks have different security models. Banks protect their customers from mistakes or theft by putting additional verification requirements and transaction limits, while Bitcoin protects users from untrustworthy custodians, but it comes with additional responsibilities. If you don't have the skill to be your own bank, you'd better to stick with a traditional bank.

Because transactions happen without the need to trust anybody or any entity but the immutable network. That is how secured it is. Can you put your trust absolutely on any person or organization? Of course, not. Can you trust any authority which is not absolutely objective for that matter? No, of course. That is why Bitcoin removed all of those.


You can't have your cake and eat it, too. Bitcoin is all about freedom. Your Bitcoin is yours alone. Your money in a bank or invested in stock is not your money because it is in the possession of another entity which, again, you cannot absolutely trust. If you decide not to tell anyone about it, then that Bitcoin will die with you. It is up to you to judge whether this feature is advantageous or beneficial to you or not.


Stolen money or Bitcoin may or may not be recovered although it is more difficult to recover the latter than the former. But the reason being is that, again, your Bitcoin is yours alone. It cannot be seized from you unless of course you are keeping it the wrong way or you decide to give it away. As a matter of fact, stealing your Bitcoin is not even possible if you are keeping it properly.

It probably isn't the currency of future. (I mean It won't replace the dollar) Nobody really knows. Crypto solves a real world problem (send&receive money without using any banks) and that is what matters most.


Yes.

If you don't know what you are doing or get too greedy, crypto can fuck you up in ways you haven't even dreamed of.

Multisig. Holding the funds in an address secured by multisig allows the access of the funds as long as the required amount of signatures is met. It helps if you were to set 2 of 4 multisig, with you holding 2, the attorney holding 1 and an inheritor holding onto 1. After your passing, the funds can still be accessed even without your multisig.
It really depends how much you value; your incompetence or your privacy. You could use your bank transfer but this would mean that someone else could easily see your spending habits and stuff. If you were to take appropriate security precautions, you shouldn't be facing a problem with your funds getting stolen.
Yes. If you bothered to Google or search this forum.

Its not how it was explained to me. We do have different view on what security means.

Security means the transaction is secured by POW and that when BTC is sent, its there and it can only returned back to the sender when the recepient decides to send it back.  No autorities can intervene to stop the recepient from using the BTC he recieved and its the same way that you money can't be frozen by authorities.

Hmm nope, there is no such thing as 100% secured. Living in this world where people can transact digitally and physically has no assurance that it is 100% safe. Either of them already has existing flaws in which it might get reduced when people educates themselves to achieve optimum security.

The goal is to stay away from intermediaries and I think factors such as financial sovereignty and privacy are enough in order to consider that bitcoin has a lot of power it can give to people. Giving you the authority to control your finances comes with great posibility. In fact, not being a couch potato when it comes to educating oneself about their financial responsibility while achieving freedom is a win win situation.

Those adversaries you have mentioned is your sole responsibility for self education.
[1] https://github.com/BlockchainCommons/SmartCustodyWhitePapers/blob/master/%23SmartCustody-_Simple_Self-Custody_Cold_Storage_Scenario.md#physical-theft-casual

The government/financial company will only contact your beneficiaries if you have that set up properly. otherwise your assets will go to probate.  You can set up the same thing (leaving direction in a Will) for bitcoin/cryptocurrency.

The blockchain transactions can be tracked, while much harder to do, it's possible.

Yes, it was asked many times before, in essence, crypto or at least crypto in general are very secure. But you have to understand first how everything works. The problem is that newbies just tend to jump on the bandwagon without understand the whole system and how to protect their crypto asset. You can read this thread to give you an idea regarding bitcoin's inheritance

• Bitcoin Inheritance Planning (https://bitcointalk.org/index.php?topic=5097720.0)
• Leaving Bitcoin as inheritance (https://bitcointalk.org/index.php?topic=5245183.0)
• How bitcoin inheritance can be achieved. (https://bitcointalk.org/index.php?topic=5106560.0)

• When Bitcoin Must Be Inherited (https://bitcointalk.org/index.php?topic=5261195.0)

There is no perfect system, but I'd rather be my own bank and the only one under the control of my money instead of using centralized currencies printed by centralized authorities and used in a centralized bank account. In my country, you can give permissions over your bank account to other persons as well. The thing is, with BTC you can just transfer all your coins to your own secondary wallet and there goes the solution to your problem. Leaving BTC to others post-mortem should remain as it currently is: a personal choice. If someone wants to prepare for an if scenario, it's their own job to do so.

Good. I mean, I would rather not be constantly tracked by anyone else.

There are so many completely free storage options for your Bitcoin seed. If you cannot take one hour from your time and use it to understand how to properly secure your seeds, it's not Bitcoin's fault for it nor is it anyone else's. You cannot "steal" crypto that easily if you have proper security.

I do not know what the future of Bitcoin looks like as I'm not a crystal ball, but I do know that while there are some pretty rough issues going on and increasing on a daily basis right now (privacy issues), one day or one decade from now I will still have my coins regardless of Bitcoin's status. Decentralized should be the future, but centralization camouflaged with a little cherry on top is trying to hijack the movement.. and seems to be having success so far.

IIRC, this question has been asked many times. It's your style how you will make your last will testament or at least make an instruction to the people that you will leave the private keys.

Yes, it can't be retrieve because bitcoin transactions or crypto in general are irreversible.

Yes, it was asked many times. With those concerns, it's we who are going to keep it. We will learn how to be secure our own wallets. That's why the motto of one web wallet, the blockchain.com 'be your own bank'.

Do you really mean security? The fact that you are the only owner of the access keys to your money makes the cryptocurrency safe. What you are talking about is not security. You cannot be hacked without your help, you cannot be robbed without your help.
If you're afraid of dying, write a will, split the private key in two, and give it to two unrelated family lawyers if you don't trust your family. But if you don't trust your family, why would you leave your keys to them after you die?

Forever lost bitcoins increase the scarcity of the already limited amount of bitcoins in the world, which has a positive effect on the price.  :)


As I said above, you are the only one who can help steal your cryptocurrency. In addition, some exchanges reimburse losses in case of hacking.
But if the crypt was stolen from your personal wallet, then the only person who is responsible for this is you, since you neglected security.

Nobody but you can help intruders steal your money, that's the point.

Well it depends. If you know who steal it, you can $5 wrench him as well. The point is, you can always make back up and improve the security of your system, and I think that price is worth it considering you have sound money. Bank/fiat is not really sound, as it's controlled by an entity(ies) that can decide "nah f you dude" if they want to. Even if you can recover your lost card, how many times or how long you need to do it? What kind of documents that you need to submit? It is not as good as it sounds.

The compromise in security only happens when you divulge the information to an entity you don't entirely trust. I know trust is a very vague concept but it works in humans very well. Also, I think it's not the fault of bitcoin's design when coins are lost forever due to lost keys if someone dies. It's a part of what makes it 'secure' IMO, so if you have a different meaning for the term, then perhaps you got the concept of bitcoin wrong.

Or, place your keys in a safety deposit box, and create a will that gives all the rights to that keys to your heir. Ain't even hard to do that nowadays.


That's why you have to take effort in keeping your funds safe. Money stolen on banks and credit cards are in similar nature to money stolen in crypto: it's mainly due to the user's negligence on his/her privacy. If you know how to keep your funds safe, you don't need to ask for a third-party or an organization to give back the money you lost.

Of course those questions have been asked before, when it comes to your second question about losing your coins because they were stolen you need to understand the next, in bitcoin you are your own bank which means you are in charge of the security of your coins, if you are not comfortable with this then most likely you will choose to store your coins in an exchange using them in a similar way to a bank but just as you can be hacked exchanges suffer from the same risk.

The problem of inheritance has been discussed several times as well but just like anything valuable you need to tell your family what you have even if you do not give them access to it, you could buy a small safe and store your encrypted keys or seed words there and give the way to decrypt the keys to your lawyer with the combination of the safe.

There's no way crypto will replace the dollar, but I must say dollar is going weak now, so if there would be a replacement it will be probably another fiat currency more likely Euro or Yuan, no one really knows about it. But I must disagree, using banks isn't a problem, crypto just solved the convenience problem that we got from the banks. We don't need crypto that much, well as much as I can think of, cash is the most convenient way to pay or receive, don't need to pull your phone out of your pants, open an application, scan the code, type the amount and after that you got a long line of other customer waiting after you.

I like how you scared him off, but yes it's true, there been a lot of stories in here that they failed in life after engaging with crypto  ;D

Like in that movie Enemy of the State where the main character is cut off by the government and cannot access his own money, his credit cards don't work, he can't call anyone, and so on.

You can get your money back if someone hacks the bank and steals it but that was the bank's mistake. It allowed someone to gain access and it will have to pay you back.

In Bitcoin if you get hacked it's your mistake not some institution's.

There have been many threads that discuss about what if the owner of bitcoin dies and who will manage it. Bitcoin can be inherited to anyone you trust or to your family by providing access to a private key in the form of paper, hardware wallet or in the form of notes that you make yourself. the idea of ​​inheritance can be read on the link provided by @cryptomaniac_xxx.
on the link you will find a more detailed discussion about the legacy of bitcoin.


For security problems you compare with banks. Certainly will be very different. The bank is fully regulated by the government so that it will be easier to conduct an investigation when the money in your account is stolen. While Bitcoin is a digital currency that is not regulated by anyone and transaction history on bitcoin will also never be deleted. The security of digital currency is entirely in its users, Bitcoin has many advantages but also has a weakness. Just like a bank. There is no perfect system.

There are escrow services for that similar to leaving a last will if you die or if you dont trust escrow services you can just pay for services like mailshake or zoho to send an email to your family or someone significant to you and schedule that email.
Surely, this is better than having to through a lawyer and pay him millions.

About stolen crypto money that you can't trace is entirely incorrect, you can also file a complaint because Bitcoin is pseudonymous you can file a case and trace those BTC.

I don't think he meant to say that bitcoin is perfect, bitcoin is flawed in many ways, but just like bitcoin right now is much better than it was a few years ago. This process will continue to make bitcoin better down the line.

Though I agree that OP is wrong specially in certain scenarios, like say: quantum tech goes mainstream, that's a inmediate bitcoin killer, we'd need to switch to a quantum resistant blockchain, there are many more but this one particularly came to mind.

Of course it was discussed many times in this forum community.
 First off, we are very aware about the risks of choosing cryptocurrency. Crypto exchanges vs BANKS. But I supposed you also know about that centralized and decentralized platform.  We can't also deny the fact that there are pros and cons of each specific fields.
 Digital payments are already been adopted by many that is why most are very convinced that cryptocurrency is the future. But that doesn't literally means we can disregard centralized institutions likr banks.

Therefore it must be known by our close family that we have Bitcoin, like parents, life partners or children. So if we die someone will
inherit the Bitcoin that we have. I think our immediate family must know how to access our Bitcoin repository.Then related to the problem
of theft of Bitcoin that occurs because of our own mistakes usually, and therefore be careful in maintaining the Bitcoin that we have.
Don't compare banks to Bitcoin, because Bitcoin cannot be controlled by anyone. So the security of Bitcoin depends on us in maintaining it.

I have no question regarding the security level of Bitcoin for now, except if you handed over the private keys or mnemonic phrases carelessly to someone else or a third-party source. But BTC isn't perfect yet due to the quantum threat. There must be some sort of ways for Bitcoin to switch into quantum resistant blockchain or something like that. But who knows? We will see that outcome in the future though.

Two factor has already been introduce accessing online wallets need a confirmation on a device or to email before it can proceed to transaction. However,  private keys may drect to the wallet so this is one of thr crucial way to open a digital wallet. If it will be disclose to anyone or just being skim by a fake website then pretty sure it will be the end of crypto holdings. So, one must careful on fake sites that even their sites had the same as with the original web address so one must be keen on every letter or symbols in web address. Better to bookmark a site instead to direct the site once wanted to access.

As long as you know how it works and what to avoid, it's pretty secure tbh. Using hardware wallets and learning to identify scams from legit ones are pretty much the simplest ones that could help you from losing your crypto. If people were scammed of their coins, it isn't the coins' fault for being faulty, it's the persons' fault for being ignorant, stop blaming a medium for your mistakes, it makes your mistakes more blatant imo.
Your definition of secured is kind of skewed to the identity of authorities. Secured transactions of Crypto basically means every transaction is recorded on the blockchain, and can't basically be removed. That's the "secure" part, and in the case you described, it's mostly the judgment of the owner on how they would take action. Bitcoin isn't called decentralized for nothing after all.
Stolen in what way? Most issues about cryptos relating to theft were related to either scam, which is mostly attributed to the person themselves' ignorance, can't really blame crypto for that. As for hacks of exchanges, it was your choice to store it in there, not really crypto's fault. A lot of people have already been saying that storing your coins in a hardware wallet is the go to when holding after all.

Have been reading about that quantum computer threat but does it really a warning for Bitcoin?or just another FUD to make this community shaken?
for couple of threads i have read about this but the claims seems to be not that serious in regards to Bitcoin security,but correct me if i'm wrong.

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but as far as i am believing?cryptocurrency are safe for now and the next years to come and those claims that coming out are just a strategy of fudders here to make market fall.

This is how regulated bank suppose to be but it is not always the case. It has been recorded in the past where bank authorities through their staff siphon money from dormant accounts of individuals. Through crypto, you are in full control of your asset and you are required to plan how to provide the way to pass your funds to your love one in case of death
cryptos are for intellectuals. You are suppose to protect your coin the way you protect your properties. This also include not giving out informations that can lead to your account being hacked and not to fall for fake giveaway. Money can only be recovered if it has not been successfully withdrawn by the third party so it is always a 50:50 chances. It is not in all cases that money being stole are recovered back by the bank

Hmmm ::) I don’t know who came up with the idea that cryptocurrency is 100% secure. No, cryptocurrency is not 100% secure, there are lots of risks involved in making use of cryptocurrency, and yes all the risks you have mentioned here are part of it. The thing with cryptocurrency is that it provides you with privacy, but it is not every cryptocurrency that really gives you privacy, in fact majority of them don’t give you complete privacy. Bitcoin doesn’t give you that complete privacy, because anyone that wants to trace you will still trace you.

Well, yeah cryptocurrency is a secure way of investment. However, I don't think it may be the safest one because this is included in the technology and it may be hacked. but aside from this, cryptocurrency has great ideas and benefits.
They are easy for transactions around the world, quick transactions without waiting for days to make the certain transfer, not regulated by the government so that we can control our assets very well as we like. The crypto is also a worthy thing to invest and also trade. It has high volatility so that it can be utilized for trading, daily trader will really love this. And the increase of crypto price sometimes is very significant. We can hold the trusted and valuable cryptos for long-term investment. It wil be very worthy for us.

It may be what different to the stocks or even the currency on banks. However, it may also has certain disadvantages such as being lost because of hackers and others. And about the condition, if we die and nobody can claim our assets, we can manage it .
Personally, I save all data in my computer and also drive that can be accessed. In this case, I have no secret to my family so that if I die, there is another trusted family that can manage and take the crypto asset. Probably in the cyrpto world, we should have better other people that we really believe and this should be the intimate family, sibling, wife, husband, children, or parents. Although they may not know about this, after we die, they may aks the other trusted people to take care or to withdraw our assets.

One of the most important things that I learned from this ecosystem is that we have to really update information, not be easily affected by FUD, it could be just confrontation and issue, with a specific purpose, as you explained. The most important thing is that we learn safe ways to store assets, the risks of our choices, so that we are prepared and not trapped in losses. Most people still ignore this security, remember hackers target you. Nothing is really safe on the internet, prepare the best possible preventive measures so you don't regret it. As long as we realize the risk, we will definitely choose the best security.

As others mentioned you are looking at one or two angles of security.

1)If I die my wife knows what to do.
2) I use multiple wallets but if you put a gun to my head it is no more secure than money under the mattress.

3) I can access my money in any country. If the country i live in turns bad I only have to go to another country and I will have some money.(crypto)

no 3 is really big for me. just in case.

What's been questioned is good and the same might have stricken in the minds of each and every cryptocurrency user. We prefer the cryptocurrenciea to eliminate the intermediary, but when the funds needs to be settled to a nominee or to the family members a third-party firm is a must.

Maybe if the person has go a technology wise skilled person as nominee it isn't hard to recover the funds. It can be done just by having the recovery phrase saved and provided to the nominee on death of the user who holds the fund.

I do know that many people have already replied to this topic but I do think I can help with a straight forward explanation.

1. I will attach a photograph of something that my wallet sent me on email. It did ask me to actually add some nominee which upon my demise would be the one holding my coins.
https://i.ibb.co/4pms6tn/Screenshot-2020-09-14-21-00-20-12.jpg (https://ibb.co/VTjH79c)

This is an option with many other wallets therefore you can just hold your coins there.

2. Cryptocurrencies are not actually something out of a dark web , the cryptocurrencies are actually something that is semi transparent. Infact at places it's even better than bank accounts and such, if you do know cryptocurrencies , if you do know Bitcoins , you know how to track down a person plus wallets are now a days being provided with KYC which is not an option but is actually mandatory.

But so can be the case with fiat, thousands of fiat have been lost yet it was untraceable. Uncountable individuals have lots their life savings without having the opportunity to will it to their estate. Bitcoin can to make finance more easily and personal. You can simply teach your potential beneficiary about bitcoin and how to access your wallet when you're no more and input your login details in your will which will be passed in to your love ones when you pass away.

In regards to keeping your funds safe, that's all on you. Bitcoin has come to teach us more about securing our assets. If you do the right thing, stay updated with latest information, you'll hardly fall prey to scammers exploring ways to steal individuals funds. Having fiat isn't any safer than owning bitcoin as both can be stolen yet you don't recover them.

We can't deny that cryptocurrency is a great technology but it is still a bit different when it comes to fiat or banking system. There already some cryptocurrency wallet that is able to support this kind of issue when the crypto holder is already dead by it is still not optimized at this point. It's true that somehow you cant recover cryptocurrency when you already send it to the receiver but could still depend on your wallet that you are using if it's supported or if it is possible or not. For me, digital payment is still not comparable when it comes to fiat money or something like a banking system.

There is enough logic in your words.  If the bank loses money, there is a chance to get it back, but once the cryptocurrency goes into someone else's account, it is impossible to get it back if he does not want to pay.  Again, if someone dies, what will happen to his accumulated cryptocurrency?  One of my suggestions here is that you can keep your password or private key in a safe place.  So that your next generation can take your money using this private key.

bank itself or bank costumers ? because if bank losses money they can print it back or they cant print unless if its declared that they wanted too but if bank costumers losses money , itl be back depending on the situation like if they got scammed or hacked . on cryptos this is mostly mostly not possible if done on a small transactions but possible if the amount stolen was huge because on the past there are miners that didnt process  those transaction as what have been order by an exchange that was hacked and also the exchange wont allow the suspected funds to entered on them .

No it isn't 100%. It's a lot, but not 100%.

Why should he shared it with someone? If you talk about inheritance, then yes, there should be a trust between the family, otherwise, no inheritance. Bitcoin was not designed for that purpose. Does gold gets inherited somehow? If yes, then the same way with bitcoin, but instead of gold you can leave a paper.
(Just to know there have been thousands of discussions about bitcoin inheritance, here on bitcointalk)

Yes, if someone steals your coins, you're done. Bitcoin is for smart people. You are fully responsible for your actions. Banks have a middleman, cryptos don't. You can't have one's cake and eat it too.

Look, you're reading a lot of different opinions. And that's okay, because you're in the internet. So read my opinion as well:
Bitcoin is not the currency of the future, but far away from it.

You can't compare the security of Bitcoin with a bank, because they are different. Because the bank is centralized, they manages
security for customers, then Bitcoin must be the user who controls security. Because Bitcoin is a decentralized that no one can control.
So most of the people who lost Bitcoin, due to their own carelessness in safeguarding their Bitcoin. Then regarding inheritance in Bitcoin
there are many topics in this forum that discuss it, you just have to look for it.

First question is that why would our funds send to wrong address ? Those who are using the crypto currencies, should double check the sending address. It just take a little attention and you will never send it wrongly.
Secondly, you should tell your spouse about the private key, so in case you die, the bitcoins can be used by the other members of the family.

Btw this question was asked to Ognasty and he said that he had plan about it, would be glad if he posts here too.
Btw crypto wasn't meant for that. Main idea behind it was to get rid of any 3rd party services. It has it's pros and cons like everything. Bitcoin offers control on your funds, what's more secure than this? Bank controls your account, they can freeze it at any time but no one can freeze your bitcoin account so you have to consider this too. Also it offers better anonimity than traditional banking.
I wouldn't blame bitcoin, it's a great thing and invention.

-That's true, if a person who holds crypto will die, no one will know about his crypto and will lost forever. But as you have said, he can share the details with someone really close to him, it is still secured as long as that person will really be trusted.
-If your money was stolen, the one who is responsible is the owner of the crypto. We should always try to do everything to secure our crypto and don't let anyone stole it. Even in banks, there are robberies and credit or money being stolen. It just a matter of how we suppose to secure our money.

My opinion is that before using cryptocurrency, you need to be at least a little technically prepared. Statistics tell us that about 28% of bitcoins are lost forever (https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf)

How this happens can be easily answered.
Keys to wallets are lost, incorrect transactions are sent, and of course, if something happens to the owner, then all data is also lost.
It is corny to talk about what the forum has described thousands of times.
But there is a good rule of thumb that if you want to take care of preserving your assets, you need to put in as much effort as possible.

If someone can access your funds then how you can call it as safe? If it is your money then you only needs to access it if you wanted to give it to your family then give it to them if they are trusted,if they are not trusted enough then why need to give money to them?

In some instance you have a point too but the bitcoin is not a fully secured still the most case scenario of hacking and losing of bitcoin is because of the users too.

There are some factors of losing their coins.
1. Doesn't store the seed phrase in a safe place.
2. Public their accounts.
3. Sharing of account.
4. The password is saved.
5. The account is automatically login.

Also you can track your transactions to blockchain.

they get access because you let them but the access is limited to your trust network to ensure that cryptos are safe .


crypto exchange and some crypto wallets are also regulated or centralized  and they can do the same service like what you decribed above  . and how do you know that no one will know if the crypto owner dies ? what if they already tell their access to the people that they trust the most  . sharing details can also happen on banking or on other regulated platforms and not just not crypto but this does not mean that they are not secure .

Hi, how are you? It's simple, my friend, your bitcoins are protected in a wallet that has a private key and you can place the 2fa to guarantee its security, now if you create a wallet on a third-party platform that platform or it can become a scam or it can simply be hacked, greetingsBTC

I took the word "security" in the other way, as I thought it was about the risk of getting hacked.  ;D
Before the person dies, he/she should just give the private key to who will inherit the coins. It's not lost forever if you take responsibility of YOUR coins.
It's YOUR coins, therefore you control it to where it will go right now and to the future (well if you aren't using online wallets which is a different discussion). What do you mean by not really "secured" currency? If I don't give my private keys to anyone, it's secured to me. Before I die I would give the private keys to someone I trust and it will be secured to him.

I am holding my bitcoin since 2017 and I don't have any objections against its security.
Truly I got defrauded a few times and I lose my cash their yet there's no point of blaming its security.
Just your flaw can make your coin disappear. My companion neglected to logout his coin base wallet and somebody takes them

But still there are others that has not treating as this,they tend to still being affectedof FUDders who seems to be much happy when there are reactions in their tactics.
Thats why i bought a Nano ledger for more safer investing .
securing you assets is better but the problem is that hackers still in best to victimized us.

And why would you use bank or any regulated platform when investing in Bitcoin? if you don't wanna get traced the look for other ways. I'm also using banks but I'm not getting any problem regarding about Bitcoin, if you have a proof that what you're doing is legal, then you're good, but I guess it still depends on which country you are in.

And the security of Bitcoin, if you died, it's your fault not giving a note or instructions to your family about how they would get your funds in cryptocurrency just in case you died. If a hacker got into your wallet, it's your fault as well because you didn't secure your Bitcoin in a decent wallet.

Do you think you the first one to ask these things? They were asked before bitcoin was created by the creator themselves.

Firstly your share all your personal info with your bank so how can you call that secure? If someone else has your crypto details that doesn't mean it is not secure. I trust a family member with my private key much more than some bank with my money.

How will someone steal your crypto? Btw just because your money was stolen does not mean the bank will get it back.

There have been some cases where Bank data has been breach, as we know there is no perfect system after all, but when we talk about security it is best if you keep your money with the bank with terms and condition applied to avoid getting lost. And of course you'll trust your family more than anyone lol.
There are various way for your crypto to be stolen, one of them is by malicious software intended to hack your wallet.

It depends, that's why there are terms and conditions when keeping money in the bank.

In our current generation where technology is booming, There's nothing unhackable now. Banks can be breached if an excellent hacker/group of hacker want to breach a bank. Bank security is considered high and hard to penetrate but it is possible to get past through it. The bank is known to have high security that's why people are trusting it with their money and people should agree with their terms and agreement. Surrendering your personal data is one of them. This is why cryptocurrency enters, If you don't want to get controlled by the banks, Cryptocurrency is the answer. You have your own freedom to keep your asset and be responsible for what you are doing with your own money.

I couldn't agree more with @mk4. BTC is denoted as the future of finance because of the freedom from centralisation and the emergence of the blockchain technology which can be used beyond the scope of creating digital currency, and can be used to solve real life challenges such as pension funds etc on the basis of smart contracts.

If somebody is saying that BTC is safe, that's a lie. It isn't 100% safe due to targeted hacks but so far it is the best alternative to having a decentralised system where you and only you (plus any other people you trust with your life) can access your funds, giving you full responsibility. 

maybe someday the bank will use blockchains and use a semi-decentralized system so that with an official proof from the police and sufficient evidence it can be used to get your assets back
this is just my idea
indeed when we die a number of balances in our assets cannot be used, this is my anticipation
I wrote in my note an important file with all the passwords, backup google authentification and privatekey

But not all people are aware about those scams that they might encounter, and we are lucky that in this forum, we can read a lot of things regarding this.

Bitcoin is really secure and safe depending on how careful you are in holding it. It also depends on how you double check the address when you are sending btc to other wallet address.


Blockchain Technology is very complex, you are accountable about the things that might happen in your wallet. Bitcoin is said to be the currency of the future due to its ability to become the best digital currency that we can use in our daily lives. But the thing that made it hard to become like that is its volatility in the market, that's why some people are not considering bitcoin as a real currency.

Bitcoin is actually secure in terms of transacting coins. It is only in terms of transfer of ownership of coins that there seem to be a security flaw.
However, just like the fundamental principles of bitcoin stated, bitcoin is a decentralized currency which means it is entirely in the control of its holder and not some third party or a central government. This means that whatever happens to bitcoin coins is entirely dependent on its holder. If the holders wants to pass his coins on to someone else after his demise, then he'll have to give them access to his coins.
If your coins were stolen, then it is entirely your fault that you didn't put up the necessary security measures simply because you're the one in control of coins.

In a decentralized system, full control is in our hands, we are the only ones responsible for the security of our assets. Bitcoin does provide the convenience of transferring value, as well as the security and speed it offers, without any restrictions, if it can be used properly. So you are correct in saying, even if there is a case of theft or hacking of a private swallow, it is entirely the user's fault because it does not maintain security so that it is easily penetrated by hackers. Beware, friends, the crypto world is full of risks, we must improve the security of the wallet as much as possible.

Bitcoin is traceable, in fact recent news in an exchange where hackers transfer Millions of stolen Crypto's immediately intercepted and frozen by custodial wallets and exchanges, and the issue about what will happen to your Crypto's when you die. You can easily set up apps like automate emails to send your private keys. So that you don't need lawyers and pay thousands.

I think there's any possibility in this world in anything. But sometimes we heard about any govt sectors failing any type of business, like bank etc.but mostly we trusted. I can say crypto currency is virtual currency, it's all decisions are depend on us.if the investors are too be greedy. Then my opinion is that he or she should not be investing. Ultimately we can get good earnings in crypto having low risk,due to good  trust  & popular in the market. I think  so.