Bitcoin is well known for its safety. The biggest dangers are mainly hacker attacks on third party services, through which one accesses his bitcoins. These are above all the various crypto exchanges on which the users have created accounts or the bitcoins stored locally in wallets.
Basically, either the exchange itself is directly attacked, so that data can be stolen there. The biggest known incident was the hacker attack on Mt.Gox about 4 years ago, when a huge hack of Bitcoins was looted. This was also the reason for the decrease of Bitcoins 2014.
Today, the exchanges have improved to prevent such occurrences, because it can come to hacks and the trade is severely restricted or even stopped completely. This often leads to strong price fluctuations, mainly caused by so-called panic sells.
An equally large attack surface offer individual mistakes that can easily be prevented. Individual mistakes are the responsibility of individual users and are often:
- insufficiently secured user accounts due to weak passwords
- Login on a phishing site
- send the private keys to a scammer
If a stranger has once gained access to your own accounts, he can quickly transfer the entire balance to another wallet and due to the anonymity, it is no longer clearly comprehensible. For such a kind of total loss helps therefore only a careful handling with your personal user data.
But as long as you follow to the usual security rules and pay attention to secure passwords, which you should also change from time to time and do not use the same password on many other pages, an accident normally cannot happen.
The high demand and high competition between exchanges has also contributed to the improvement of safety standards.
How make you sure to safe your Bitcoins?
I am using an online wallet. In order to make sure that I am safe, I always check the website that I am logging in to. I only memorize the password for my wallet and I do not save it in my computer. If you do not like online wallet due to its high risk, you can have a paper wallet or a hardware wallet. Being careful is the best way to make sure that you are safe even it is a paper wallet or online or hardware. |
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Large groups of well paid, organized, funded professionals with clear objectives and good management - (like R3, hyperledger, ethereum, others) are sure making those Core programmers look like the silly little whiny bitches that they are. Core is going NOWHERE and getting there pretty damn fast. Meanwhile, very sophisticated advance is being done every day in other part of crypto/blockchain.
This is 100% the end of bitcoin as we know it. Good thing too. This 'open source', 'no leadership', 'no organization' thing was always a load of bullshit.
As of now 2018, Bitcoin didn't end. This is just a post that shows hate on Bitcoin or doesn't know well about Bitcoin. No one really knows when Bitcoin will end. Despite of many criticisms Bitcoin is still the king as of now. |
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This guy has lost 103 bitcoins he mined back in 2011 and then lost his wallet dat file similar to what I have done but wow this guy must be gutted the amount of money he has lost compared to me His Address 166BuLPWHUjqoqiYp5rGE3B5r5AmqgHpoL Final Balance 103.20832384 BTC So many people have the same problem and I wonder just how much Bitcoin is stuck not being able to be used  He says "I used to mine Bitcoin back in 2011 and I lost my wallet.dat file (through several stupid moves on my part). It's got approx 103 BTC in it, anyone is welcome to it, I've given up trying." This is a really unfortunate situation. 103 Bitcoins is a really big amount of money. If he gave up on trying to find his wallet file, I suggest that he must move on, find a new way to earn Bitcoin and make this experience a motivation. These things in life really happens, we must move on and be a greater version of ourselves by learning from these experiences.  |
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My suggestion to everyone would be to be calmed, don't be greedy, have a patience in everything. Success will definitely touch your feet, never ever quit. Bitcoin's price is always volatile, as we see it's dump price and the market is red, never lose hope.  Always remember this one " He who quits does not succeed, he who succeeds does not quit". I do agree that you must have the patience in order to reach your goal. It is only natural for Bitcoin to fall. There will be a day that Bitcoin's price will rise up again. Be patient. This tip is not only applicable in Bitcoin, but also in real life. |
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For me, Bitcoin made the world crazy because of its volatile price. Without its volatile price, Bitcoin will not be popular. People use Bitcoin because it is a good investment. Another reason Bitcoin madevthe world crazy because of the Blockchain technology. Now, many people are now applying Blockchain technology to their projects.
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Bitcoin has come a long way and come really come to stay. As a matter of fact, anytime some people who know nothing about bitcoin are introduce to bitcoin about how bitcoin works, they channel all their attention to whoever is passing the information to them by listening attentively. However, after developing the interest in bitcoin, they quickly revert their interest in bitcoin the moment they hear of the volatile nature of bitcoin, thereby, deciding not to invest into it anymore. Guys, what are some other factors that scare people from investing into bitcoin?
For me, the media and the lack of knowledge of people is the reason why people are scared investing in Bitcoin. There are some "Bad news" about Bitcoin that will appear on TV/social media, then people will now have a bad perspective to Bitcoin without researching and knowing it. Volatility can be another reason why people are afraid to invest to Bitcoin due to its unpredictable price. |
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Is it possible someday that Medical Hospitals accept BTC as a payment for Hospital bills and other fees??
Yes. As of now, Bitcoin has not yet earned the trust that it needs to. It will be really possible if the owner of the hospital will take the risk and be open minded to the fluctuation of Bitcoin. The thing that will be surely possible for the medical hospitals that will adopt is the Blockchain technology. |
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For me, it is really possible for hackers to steal your wallet if your wallet is saved in your computer. If they have the access to your PC and for your wallets/keys with the use of malware/virus, therefore they can access your wallet easily. I suggest that do not save your passwords/keys (especially your wallet) in your PC. Maintain your PC and look out for threats that can make your PC vulnerable to hackers. Be careful and be sure in what website you are putting your passwords/keys for your wallet.
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A lot of posts are about bitcoin (eg bitcoin for illegal transactions ... bitcoins change lives ... bitcoin destroys the world ... bitcoin poison and so on) but basically it's all humans that move .. bitcoin is the tool. Good bad how the tool is how the man who runs. is it worth blaming bitcoin. What is your opinion?
I do agree to your statement that "Bitcoin is the vehicle, we run it." We are the one to blame for what is happening to Bitcoin today. We have the power to use Bitcoin for good or for bad. |
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If you want to secure your bitcoin there are two ways to keep safe it. 1. Online wallets. 2. Hardware wallets. If you chose number one you have to take some steps for keep safe your bitcoin. 1. Take a very heard password. 2. Keep your password in a very secure place. 3. Don't save your password in online. 4. Activate two step authentication. 5. Don't share your password to any one. For your help give some trusted wallet links... 1. https://www.coinbase.com2. https://www.coinpayments.net3. https://www.blockchain.comIf you chose number two you have to pay some money for keep safe your bitcoin but i think this is better to keep your bitcoin in a hardware wallet. It is more safe then any online wallets... For your help i give some trusted hardware wallets link. 1. https://www.shiftcrypto.ch/2. https://www.ledgerwallet.com/3. https://opendime.com/4. https://trezor.io/5. https://tangem.com/So now its your choice that how to keep safe your bitcoin now.......😊😊😊😊😊 Your ever😊 This is a good guide for people who wants to start investing in Bitcoin. These tips can also give relief to people who are overthinking about their wallet. I agree to your statement that having a hardware wallet is the better way to secure your wallet than using online wallet. Just don't lose your hardware wallet and everything will be fine. |
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Germany recently approved bitcoin, why exactly is the approval required and what will happen after approval ?
Approval of Bitcoin is not required. It only shows that Bitcoin is trusted and there is nothing bad in spending/using/earning Bitcoin. Not approving Bitcoin can give people doubts because the government don't trust on it. |
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i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I do not think that Banks will accept Bitcoin because Bitcoin is decentralized. I think that banks can adopt the blockchain technology but not Bitcoin. For me, Bitcoin in the future cannot replace money in terms of transactions. I think in the future, Bitcoin will be a main option for transactions. |
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Anyone can call it ponzi scheme and fraud but if you think of it, everything worldly is fraud. You buy apple products with thousands of dollars but how much are they really worth? Why would people give out thousands of dollars for a macbook when they can buy a laptop for $300? Is it really worth that much or is it just another ponzi scheme that apple is bringing to the world better gadgets than any other brands? So we're talking about bitcoin now. What are we really paying for when we buy bitcoin? We pay for an online program and the people running the program helping transactions go through, or we call mining. Miners put in so much time and most especially the cost of mining is so much. That is merely the reason why bitcoin will cost much and if incase it will dive too low and will not be enough to pay for miners, then that could be the time bitcoin will die, or not.
People think that Bitcoin is a ponzi scheme because the old investors earn from new investors. They are wrong. They do not have the knowledge how Bitcoin works. Bitcoin's price is based on the law of demand and supply. Bitcoin is decentralized and no one is controlling it. |
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Is there any ending or not?
No one really knows if Bitcoin has an ending. For me, I believe that Bitcoin will stay for a long period of time. Bitcoin's downfall of price is just normal. If you think that it is not normal then it means that Bitcoin is ending (for you). |
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If the opinion of Robert Schiller is seriously taken into account by investors from around the world, it is simply because he was the Nobel Prize in Economics in 2013. But when it comes to talking about Bitcoin, man does not chew his words. He is not seized by the craze that surrounds crypto-currencies for several months now.
Mr Schiller believes that Bitcoin is a speculative bubble that will end up exploding, even if in itself this virtual currency should not disappear.
I do not think that being a Nobel Prize awardee can predict the future. It is just his opinion about Bitcoin and do not worry about it. If you wanted to believe that Bitcoin is a bubble then you can withdraw and avoid that "pop". |
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I'm wondering this because is such a real threat to bank system and we all know how banks and governments are tightly linked !
BTC could make people more autonomous, self-resilient, being their own bank. You can use it like cash, making your transaction almost untraceable (or untraceable using e.g. monero or dash or laundry systems) : this is governments worst nightmare, isn't it ?
I think that Bitcoin is not a big threat to them currently. If they will ban Bitcoin in a country, I am sure that holders/investors/users of Bitcoin will find a way to manage and access their Bitcoin as long as there is internet. |
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I read some criticism around Bitcoin, because is too volatile, but this is the reason for the success of this crypto ( and others), imo
Also, why do you need a stable coin ? If you can't pay with Bitcoin for you coffe, who cares ? I mean, it is just like gold, you don't walk around paying with gold, but you know it has value.
I just can't see a clear disadvantage on being too volatile, something that could make ppl loose interest on Bitcoin. I would like to hear opinions on that.
I agree that Bitcoin's volatility is the main reason why Bitcoin is successful and many people are using it. People do not want to receive a volatile currency that is why stable coin needed to exist. Also, they are not oriented (no adequate knowledge) about Bitcoin that is why they do not accept that kind of payment. |
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I watch a lot of information on the television talk about bitcoin (mainly the news about the bankruptcy, the bad side of bitcoin). On the other hand, I read a lot of online articles about the benefits of Bitcoin. What does Bitcoin offer the user?
Today, Bitcoin's function to the user is to help the user earn money. With its volatile price based on the law of demand and supply, the value of Bitcoin can help the user earn money. For me, the real offer of Bitcoin to the user is Bitcoin can be send anywhere with anonymity and no hassle. |
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Alright now, CRYPTOS running some!! Time to check your emotions, feelings, and mental toughness.
Get your plan together, are you going to hold, swing trade, or get back to even and say screw it I'm out??
As of now, I will still continue in holding my Bitcoins. Even though it is constantly falling since May, I will still hold the Bitcoins. I believe that Bitcoin's price will rise up again. |
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The answer is just simple, we all are cowards . Everyone will like to wake up one day and find out that Btc has reached 50,000. All these people are scared to invest hugely in bitcoin but want to become Crypto millionaire and Billionaire. You ask them why they are scared and they are like crypto is volatile and so on. This is the time to set the record straight make people realize what they are into. If you are scared then there is no need for you to join this amazing fraternity . I do not think that the word "cowards" is the best word to describe people who are afraid of taking the risk in investing in Bitcoin. They really just want to play safe and they think that investing in BTC is not for them due to its risks. It is also not good if you are reckless in investing in Bitcoin. Thinking first and making a good strategy before investing in Bitcoin is a must for future investors. |
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