Bitcoin Forum

how can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?

What about CASH and consumer protection?

How can I be sure that my CASH would be protected from scammers or how can I know the stability of CASH?

You can only hope that your coins won't be stolen from your wallet or exchange as the funds aren't covered and there is 0 consumer protection. Bitcoin is not stable either; it's a volatile environment enjoyed by speculators. So in a nutshell it's a risky, volatile, unpredictable financial instrument for big gains in a very short time with 0 consumer protection.

 

You should know to whom you can send money directly or to whom you need to use an escrow to complete your deal. If someone scammed you means you didn't take steps to protect yourself. You already know online is full of a scammer then why would you want to send money without a trusted escrow?

If bitcoin is stable then many people will invest in it because people want to make money from this volatile market.

By knowing how Blockchain it works, you will know what wallet to use to hold your BTC. Take care with centralized wallets companies because those kind of wallets are attacked by hackers generally and you take the risk to lose your BTC.

The "stability" of Bitcoin or any coin is given by the ask and bid of mass. It is to difficult to know what price bitcoin will have tomorrow or the next month, when a trader works, they just try to predict the price but never is exactly accuracy.

Bitcoin is all about decentralization and hence there is a distribution of the responsibilities too. There is no central authority to take care of your funds and even if you are keeping your funds on any exchange, there is no guarantee that you will get your funds back in case of any hacking attempt. However, Bitcoin as a technology is very strong and no one can steal your funds if you are taking enough security precautions. Keep your funds with you (offline) and make sure that you are following security guidelines.

Also take in account where you put your BTC, and don´t trust on that places "duplicating" your BTC. ;)
Almost always scam than kind of.

There is no central authority to take care of your funds and even if you are keeping your funds on any exchange, there is no guarantee that you will get your funds back in case of any hacking attempt. However, Bitcoin as a technology is very strong and no one can steal your funds if you are taking enough security precautions.

There is no perfect security in this world, before you save money or invest bitcoin, you better first read the guide to do things with bitcoin. No one can be held responsible for any risk of bitcoin unless you own it as a holder of bitcoin.

Its life and there is no guarantee on everything you do, and since bitcoin didn't have any regulation yet thats why there is no guarantee to protect your bitcoin from hackers. However if we're talking about dealing with scammer then its up to yourselves to not trusting any HYIP and its up to your decisions not anyone can gave you perfect decisions. If bitcoin was so stable then there will be no hype about it until now, because it has such a high volatility that makes people want to try their luck to become an overnight billionaire and thats why people keep coming to this forum.  ;D ;D

In my opinion no one can guarantee our money will be protected from scammers or know the stability of the existing bitcoin, because we can not control ourselves for what we see and we are great curiosity that sometimes makes us feel lost, but as long as our money or bitcoin we have we keep safely in our wallet without us disturb maybe we can keep it from scammers. So in my opinion that can convince us of our money is ourselves.

your money are never fully protected from scammers, even when you're using fiat. You need to be the one who protects it from scammers, just need to take necessary precautions.

Consumer protection is important, however I think we can only say that with altcoins, since we have devs and they can easily be accounted for just like what had happened on other scam sites and even an exchange, someone could be accounted for, if they can be found guilty of charge. I think at first, we should make sure that we are investing on legit sites and with trusted people, one thing that you will need to think about is, if you look at bitcoin from its inception, you could say it is somewhat free, since you can mine it using just your cpu before, and with that, we should be very careful on our transactions, since there will always be someone that will take what you have, even in fiat, banks seems to be the biggest scammers, since they will put interest in anything that they fan pit their hand on, I think this should be within your discretion and there will be no one else to blame but yourself if you got scammed, since you can research on it, prior to investing, in order to make sure it is legit.

Using consumer protection and scammers in the same sentence is contradicting yourself because even in the fiat world, scammers are there to collect your money and there is nothing to do about it. But talking about legitimate business enterprises, the issue of consumer protection as at today is zero and part of the reasons that is making people lose confidence in the market. You see exchange sites intentionally suspend trading on a particular coin, suspend payment, refuse to answer ticket while their gambling sites counter parts would just come up with policies over night whether fair or not? its not their concern. The only place you can complain to is the social media or the forum to warn others from falling victims.

This is not happening outside, not perfect though but there is consumer protection councils, trade regulators, government agencies and the powerful of all the social media that can address all injustice and they will be brought to correct such anomaly. Over here, you are just on your to be responsible for your own security.

You asking for the consumer protection in the world of crypto currency which is decentralised platform with public ledger as the core of everything! That doesn't fit in the frame mate. If you want to protect your money in the form of bitcoin then you are responsible for everything. I mean you cant go and file a complaint if something goes wrong as no one will care as it will be no one's problem!

The consumer protection act is abiding to the product and service provider and I am afraid we dont have any provider here so everything becomes senseless when you say you need protection from the scammers and stability of the bitcoin.

Reassure me that you ask this question is your step to invest in bitcoin. First way to invest in bitcoin, you have to understand what a decentralized system is in cryptocurrency. Your question will be answered if you have understood it. Cryptocurrency or bitcoin offers a risky investment, all your security systems are set up. Your money will be safe if you keep all your wallet password safely. And about stable bitcoin prices, it will not be possible for the next few years. It will always come good news and bad news that will affect every investor.

You can use more security features like a physical wallet to increase safety. Nothing is 100% safe, even bank lockers are robbed and they have no insurance.

   If you want to understand Bitcoin, you should know the blockchain very well. The most important feature of the blockchain technology is a decentralized structure. Everyone can use it, but it does not belong to anyone. Bitcoin is a product of blockchain technology. So in short we can say. Anyone can use Bitcoin, but no one else. If you are deprived of rights, you have no one to ask for. So if you want to invest in Bitcoin you should do a lot of research.
   Because of the feature Bitcoin has, fraud can be done and it is not known who made it. This is a problem for now.
   Portable wallets are available now. Be very careful when doing your transactions. It is not necessary to enter bitcoin transfer with untrusted centers.
   Never forget that. Bitcoin is trading in stock markets. He will always be a chief.

If you want to be more secure with your bitcoin money, you should put your bitcoin in a trusted exchange market and buy a good coin with their technology.

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.

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.

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.

Bitcoin and Consumer Protection is same as Cash and Consumer Protection or Gold adn Consumer Protection.

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 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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

It is like your paper money, it will not go to the hands of the scammers if you will not give it to them.

I think first of all you should know the origin of bitcoin clearly and understand exactly how it works

         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.

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

Bitcoin is all about decentralization and hence there is a distribution of the responsibilities too. There is no central authority to take care of your funds and even if you are keeping your funds on any exchange, there is no guarantee that you will get your funds back in case of any hacking attempt. However, Bitcoin as a technology is very strong and no one can steal your funds, but there is no proper protocols regarding its safety.

Nice info guys. Keep it up. Thank you

Don’t get scammed and if you want stability, stay away from any currency market. Just keep your money in a safe or in a bank. ;)

Bitcoin and fiat currency is almost the same. The fact that Bitcoin have  more advantage than fiat currency because it cannot be reproduce and it is more transparent in terms of transaction. Even in fiat currency you are not protected from scammers. It is your responsibility to do your own research.

Everything on internet is not safe.
So, we have to do transaction really carefully to avoid the hackers.
better using an offline wallet to store our assets

It is a risky financial tool. You already know that online is full of a scammer then why would you want to send money without a trusted trust?

If you are using your own wallet, you will not be protected by anyone. Your wallet is your responsibility, you must protect your wallet with all mean.
But for using exchange wallet, i think you will have to set your additional security like 2fa, email confirmation, etc.

His life and there is no guarantee for everything you do, and since bitcoin does not yet have any rules, why is there no guarantee to protect your bitcoin from hackers. However if we are talking about dealing with a scammer then that is until you do not trust HYIP and your decision no one can give you the perfect decision.

Bitcoin frees its users to transact with their own rules. Each user can send and receive payments in a similar way to cash, but they can also take part in more complicated contracts. Some signatures allow transactions to be accepted by the network only if a certain number of people in the group agree to sign the transaction.

Simple answer "protect your coins lol"

You have youre security key,you have all the details and why asking for others?its our responsibility to keep all of this safe because we have the privilege on everything about our funds and storages stop acting like you know nothing,because only Noob person will have the Guts to ask this nonsense

If 10 years of Bitcoin existence is not compelling to you I don't know what would be, because for 10 years none of the guys were scammed by bitcoin at all, money that you put in that are secured and it is completely ok to hold in it.

The most important issue in Bitcoin is the lack of consumer protection. Consumers in Bitcoin because all the transactions recorded in the global ledger are called blockchain and this is like bank statement, the common way to sell or buy Bitcoin is by using swap.

you can store bitcoin on a cold purse and then no one can hack you

Cash:
1) can be hunted down, if crime is serious enough.
2) identity of other party can be confirmed, when handling over cash.
3) trade can be finished at the moment of handling over cash. Trade can also be protected with contract at hand-over.

Wire transfer:
1) Many strong sites have third party quarantee, You get money back. For many transactions there is insurance, for any purchases its money-back quarantee.
2) identity of other party is very clear and easily controlled. Very simple: someone offers You trade, You pass it to factoring, if refused, better cancel all deals.

Btc, on the other hand, is BUILT for scammers and scamming.

Bitcoin users are still skeptical about the amount of Bitcoin in the future, while Bitcoin's scarcity worries many.

You just have to be very careful in setting up your wallet, keeping safe your cryptographic keys and with dealing with strangers in buying and trading bitcoins. Save your private keys in a physical device like USB that is not connected to the internet. There are scammers everywhere and they are always looking for anything to steal.

You must know that your Bitcoin is never completely protected from scammers and hackers. You must protect yourself and always take serious precautions.

if according to now it's still safe and stable bro. although sometimes negative news circulates about bitcoin but it all doesn't change or shift to the bitcon holder and bitcoin consumers. even though in my country it's still illegal but the government doesn't ban bitcoin bro .

That's what was said at the beginning, investing in bitcoin has a high risk, in the internet world everything is bad that can happen from hacking, etc., so what we have to improve is high vigilance and always be careful to do everything. Bitcoin does not have a strong protection for consumer protection on bitcoin I think, as long as we do not commit crime, then we will be safe. We can find bitcoin stability in the crypto market and we can find more information from many websites and forums that inform about crypto.

Nice. Thank you. Just keep your money in a safe deposit box or in a bank. BTC is a risky financial instrument. His life and no guarantee for everything you do, and because bitcoin does not have any rules, why there is no guarantee to protect your bitcoin from hackers. Bitcoin liberates its users to deal with their own rules. Some signatures allow transactions accepted by the network only if certain people in the group agree to sign the transaction.