Is it really that hard to prevent hackers from hacking exchanges, wallets and God knows what other methods they use...
I mean how on earth is crypto supposed to flourish if it's so venerable to hackers?
Every month a huge hack happens and totally destroys the crypto image yet again.
At this rate, bitcoin will go to $1 as it gets hacked every day.
Is it possible to take simple precautions to protect against hackers?
For a so called "unhackable" wallet,private key ect, it seems to be a cake walk for any hacker.
Sorry for the rant, it's just irritating to see crypto slowly dying because of hacks.
There are many parts of your statement which are I think are wrong. For example, bitcoin is not hackable or the technology behind, the wallet or the private keys does. It is the one that is hackable and I think some even of these events are in the user's fault. They sometimes expose their keys or do other careless things but the bitcoin itself, is not hack hackable. Also, there is no direct relationship between the hacking incidents and the downtrend of the price of bitcoin. |
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In times of volatility and uncertainty, investors tend to favor one particular crypto that has high liquidity and is stable. At the current time, Bitcoin price trend still dominates the market trend.
However, Bitcoin leading position seems to be doubtable as Altcoins have recorded a stronger rise recently and the market is less affected by Bitcoin. Instead of following the general price trend of bitcoin, many cryptocurrencies also start to follow their own “trajectory”.
This week, the altcoin works much better than both Bitcoin and Ethereum. The added value of the ERC20 tokens and the increasing demand for small cryptocurrencies of investors in the global market has proved that Crypto investors are more confident in betting their money on this market.
Saxo Investment Bank from Danish, with its aim to focus on online trading and investment, has announced in a recent report that the capital inflows from organizations to the Crypto market will lead to a rise in prices for most of these currencies.
Hmm, I think even though it is the case and what is happening on the crypto space or in the market, I think it will be really hard for altcoin to replace bitcoin in taking over the market. The process is this - you need to buy bitcoin so that you can buy altcoins and this is a simultaneous process. It is very hard to buy altcoin immediately without buying bitcoin. This makes bitcoin leading in the market. When this process continues, bitcoin will also take over or control the market. |
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I think the reason why some people use bitcoin for money laundering is because of its nature. Because of decentralization of bitcoin, it permits the bad people to use it as a tool on money laundering. It is very hard for someone to track on someone's actions unless they will check and try to see all the things that the person does. Also, no government can regulate the use of bitcoin that is why there are these double standards.
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Why bitcoin is votality compare to fiat money. Many say bitcoin is not a good investment because it is votality.
What is votality?
liability to change rapidly and unpredictably, especially for the worse. this is the fast price change.
Why is the votality of bitcoin high?
Bitcoin is a low supply at the time of its growing number of users and it has become a demand for the masses. Many want to buy, Many want to sell in easy-word multiple transactions. When many bitcoin transactions are fast market movements and we do not know what might happen because of the emotion of the seller and the buyer may have the price increase or decrease. So the bitcoin is votality because of the small supply and in-demand.
Why is fiat money not too volatility?
Because the government is able to regulate a traditional money, they can make new money and just increase its supply so that it does not have a votality compare to bitcoin.
Note: This is my only opinion, if you have any opinion you can also share it.
Yes, I completely agree on all things that you have mentioned in your statement. Fiat money is not that volatile for the reason that there is a body who regulate on its use and production that is why its price does not goes up or down abnormally. Bitcoin, on the other hand, has no regulators because it is worldwide used that is why it is subject to sudden change that is why its price or value abnormally increase or decrease over time. |
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I think there is no other cryptocurrency who can replace bitcoin in the next one to three years. It is hard for them to even at least cope up with what bitcoin have achieved. Bitcoin has been unleash long time ago and what it is now is very high that some people even think bitcoin and a cryptocurrency is the same even we know these two are completely different because the former is an example of the latter. Going back, I think it will take at least 5 years for a cryptocurrency to just cope up bitcoin but to replaced it, I think it is improbable from now.
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
Well, I absolutely agree on what you have stated. It is close to impossible for anyone to hack one's bitcoin account because of the complex programming that are done to it that is why I agree that bitcoin is one of the safest system available. It is always the person's fault when his account was hacked and it is actually not hacked but your private keys might be exposed that is why someone have got your account. |
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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 think no one can really say or claim that he is 100 % safe of his bitcoin to any hackers knowing how advance our technology these days. You can only lower the risks of anyone on getting your bitcoin by doing some precautionary actions. You can do sorting your bitcoin on multiple online wallets so that it is distributed. Also, you can keep your bitcoin on other type of wallets like paper wallet or hard wallet. Also, keep your private keys safe, the reason why it is called private is because you must not be careless by putting it on any platforms online. |
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I was doing some research online and I stumbled on this kind of news. https://news.bitcoin.com/since-embracing-bitcoin-robinhood-app-value-jumps-to-5-6-billion/The article said that robinhood app after embracing cryptocurrency have its value jumped to 6 billion dollars after embracing bitcoin. This is a good sign that more and more people are engaging into bitcoin. If more business will enter into the world of cryptocurrency and will bring back the original purpose of cryptocurrency as a medium of exchange rather than just and object of income and a trading item then surely we could revolutionized the world of finance and economy. With robinhood as an example do you think there will be more business online that will boom and will not go bankrupt due to cryptocurrency? I guess its hard to determine such facts base on one example so let us wait for the future to unveil itself. I think cryptocurrencies could help anyone's business. O think it is a plus or an advantage for a business if he offers bitcoin than those holiday aren't. Many people do have bitcoin and it is hassle to convert it and then cash it out, so it is better for a business to offer bitcoin for these kind of problems. Also, I think it is a win-win situation for the two. Business will helped by bitcoin and they can also help bitcoin because number of investments means possibility of increasing of the price. |
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Dear Panic Sellers, If the news about Google Ads and Facebook, as well as bubble-bursting warnings from "respectable" institutions such as universities, economists, banks, opinion makers, investors and governments have convinced you to sell your coins, If you let yourself be influenced by the messages and actions from these corporations and governments, You have not understood a single thing about Satoshi's libertarian dream of decentralization and liberty and cannot cope with the responsibility that comes with these liberties. You were only hoping for some quick profit to sell for fiat... Now that you're losing dollars, you are crying all the way... well... to the bank. I hope you got out completely and never will return, because I am convinced you are as big a threat to Satoshi's dream as the corporations and law-makers that convinced you to panic sell. PS: To my fellow believers: HODL.  Well, we cannot remove these panic sellers to bitcoin and I think there are also who are the factors indicating the cycle of bitcoin. These panic sellers are easy to vanished because of the negative mentality but they are replaced fast by another wave of investors so I don't think there is a direct problem with that. We cannot also deny the fact that even we long term investors do not know when bitcoin's price will increase, the only thing that keep us here is our mentality so we cannot blame those panic sellers. |
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I think the best way to get yourself protected from scammers is to be educated and do your research. Try to know the project as a whole. Its people, mechanics, and it legitimacy. The reason why some are getting scammed is that they always take everything without even knowing if the thing is legitimate.
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maraming baguhan ang pumasok at natalo sa pagiinvest sa crypto nitong nakaraang mga buwan, yung tipong makakita lang sila ng kulay green na candlestick sa chart, bibili na agad sila, tapos kapag ung presyo ng binili nilang token o coin ay bumaba sa kung magkano nila binili, magbebenta na sila. Sa madaling salita (buy high sell low) ang ginagawa nila.
Alam natin na ang dapat nating gawin ay buy low sell high pero dahil sa emosyon, kabaliktaran ang nagagawa natin.
Ano ang solusyon dito ? Magaral ng investing.
Ano sa tingin nyo, may point ba ito ? kasi nababahala ako dahil daming mga baguhan akong nakikita sa FB na umiiyak at sinasabi pang mga magagaling lang daw at mga nerds maaaring kumita dito. Dapat din daw expert ka sa technical analysis which is mahahalaga naman tlga pero kahit naman sino kayang kumita dito. Basta masipag ka lang magaral.
Well, tama ka naman. Hindi kailangan na nerd ka para lang maging matagumpay ka sa larangang ito, ang kailangan mo lang ay kasipagan. Kasipagang mag-aral at kasipagan sa mismong trabaho. Kailangan din na ikaw ay pasensyoso dahil kadalasan, kaya ang iba ay benta agad ng benta dahil ay feeling nila ay di na tataas ang bitcoin at malulugi sila, which is maling mindset. Kaylangan mo ring matuto sa mga experts kaya maganda rin magbasa sa mga forums upang matuto sa kanilang mga tips. |
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The market is finally showing some weakness after a wild post-election stock market run-up, and it's taking Bitcoin with it. At least so far.
Three years ago, Bitcoin was under $400, a price I thought was too high even then. As far as I'm concerned, Bitcoin has no intrinsic value and should be worth nothing. So why does anyone think it's worth thousands (and in some cases, millions) of dollars?
It's the theory of false scarcity. There are a limited number of bitcoins in the world and the usage of blockchain technology has assigned the ownership of each coin to specific wallets owned by individuals. So to take "ownership," I have to use the universal blockchain mechanism, accepted by all as valid, to transfer a coin.
Yes, you are right on the part that bitcoin has no intrinsic value or it does not really have a based value. All of us here also experienced that, we do not really expect that bitcoin will grow like what it have accomplished these days. But I don't think it is a bubble. It is real and is use an asset or rather, a currency. Bitcoin will be growing and wouldn't end up dump and pump coin, it only need time to increase its price or value again. |
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It is very sad to say that a technology like this would come to a big tragedy
Bitcoin has the potential to be great but it has become a weapon of Greed
The real use of bitcoin as a payment system is just a fantasy
But what happens in reality, it is just a pump and dump coin like the rest
The only coin that is using blockchain technology the right way is USDT or Tether
most other coins are just scams and not meant for adaptability
A currency is something that can be used for daily basis rather than just an investment
majority of people who buy bitcoin is just for investment and not used as a payment itself
Never the less
HAIL HYDRA!
You are right on some aspects but wrong on some points. You are right on the part that it is not used as a currency, but an asset. Yes, bitcoin is not really used by many users as a tool for transactions or as a currency but as an asset or a tool for investment, but it doesn't not make it dump and pump coin. Bitcoin is the most successful coin released and it is known worldwide. I think time is what bitcoin need for it to somehow neutralize its unstable factor and eventually, people will use it as a currency. |
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I was invited by a friend of a friend to invest in Bitcoin last year. He told me that if I invest 5000 in our currency it will be doubled in a month's time. He also promised me that I will get referral fees and override from every person I introduced to Bitcoin and that prices of Bitcoin are expected to increase. To make the story short I did not join because I believe its a pyramiding scam. Truth to be told I did my research on Bitcoin after that and it turn's out that Bitcoin's price was really on rise unfortunately I did not invest at that time. Currently I'm learning more thru this forum and I thank my friend for inviting me here. Just last December I heard from one of my friends that the company they joined was in fact a pyramiding scam and the money they invested in just vanished out of thin air together with the people who invited them. We should be wary of people offering investments and opportunities to us. Do your research. Opportunity comes with risks as well as the rewards. If its too good to be true, it might be a scam. Bitcoin is not a SCAM but there are people who uses Bitcoin to SCAM other people. Good luck to us and more power to Bitcoin!
What a good story! What you have mentioned or said is indeed right. People should be rational to all the things he is doing and be alert at all times. They should be rational because they need to assess the things they are committing like what you have done. On the other hand, we need to be alert not just on frauds but also to opportunities like what you have not done earlier, that bitcoin is actually legit and you can really earn here so much, but good to see you improving. |
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Ever since bitcoin price started dropping, most of the threads i see here are : is bitcoin dying?, will bitcoin go green again?, should i hold or sell? etc. I laugh when i see such threads. Every business has a window of opportunity when the market is ripe to enter. This is the time to invest more in bitcoin. Every good investor see every dip as an opportunity to buy more bitcoin and hold. The weak ones see dips and they start to shiver; selling all their bitcoins, even including their altcoins. Please community members, the way we are handling this drop in bitcoin will scare new members from even investing in the coin which will cause a further decrease in the price and the unexpected might happen. Let's have a healthy discussion about our coin even in hard times, and it will attract more people to invest and eventually pump the price again. Friends what do you also think?
Hmm, I think those people only exposes their inexperienced when it comes to bitcoin. Those experienced and matured bitcoin users will see this downtrend a good opportunity to buy some bitcoin so that when the price or value of bitcoin increases, they can sell their coins and will gained profit. Don't mind them and just continue what you are doing. |
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All those FUDsters that where saying year ago how Bitcoin would fail because another currency would take over get proven wrong year after year. The more time Bticoin is alive, the stronger it gets and the bigger the network effect. Sorry but there will not be a Bitcoin 2.0. Bitcoin will go to 100k+ per coin in the next 5 to 10 years, it will absorb all the value researched in the field if not directly through protocol improvements then through sidechains.
Bitcoin will remain the only solid coin. The only coin that survived for the longest time (other coins can't claim this unless they invent a time machine).
There will be alts that pump really hard and make people millionaires, but no alt is going to surpass Bitcoin's strength and solidity. No coin will get a bigger marketcap. In the long term people holding 21+ BTC will be rewarded by history with rich-tier status for seeing the value in it before most people did. Do not let the FUDsters trick your mind or the trolls try to derrail the excellent job being done by Core devs.
Let's continue then our path towards inevitable triumph.
Yes, I absolutely support your statement. All other cryptocurrencies, even some are created to be a better version of bitcoin, hasn't really keep up with bitcoin. Most of these cryptocurrencies are ending up dump while bitcoin still dominates the market. I think it is very hard for a coin to even keep up with bitcoin because bitcoin is really established jts presence and some even think cryptocurrencies is also bitcoin but we all know that it is just one of the cryptocurrencies. It only show how dominating bitcoin is. |
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The development since late December shows very clearly what is happening.
The whales - and anyone else with half a financial brain - are slowly selling all their bitcoin. As they sell, prices begin to drop sharply. They then hold back on the selling and newbies and "HODL'ers" are foolish enough to "buy the dip". This sends the price back up.
It then repeats with rates dropping again, until the newbies and "HODL'ers" buy the dip once more.
Except on every round the dip gets deeper and deeper.
The game is over, and anyone so stupendously stupid to keep buying from the whales who are unloading are basically just throwing their money away.
Face up to reality, the party is over.
You are the one who is stupid to say that bitcoin is over just because the price or the value of bitcoin is decreasing. I think you are so new into this type of investment to have that kind of thinking. Don't you even know that bitcoin is very volatile? Also, there are really seasons or period of time where the bitcoin has really a low price. Don't come here when bitcoin's price increase we are certain about that. |
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No, there is no easy and fast way for anyone to earn money here in cryptocurrency. All of it requires patient and hard work. Those bounty campaigns will make you earn money but it is not that high and requires higher rank for you to have more or higher earnings. You can earn a hundred dollars or more in trading for a day, but that also requires hardworking for you to reached that state. Well for me, all of the ways to earn money requires you to give your time and efforts.
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People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.
Do you think that China is controlling/ruling bitcoin yes or no?
No, I don't think China is controlling or ruling bitcoin. China has only a major part of bitcoin community like in the mining but I don't think they are controlling bitcoin. Controlling means you have a power over someone or something and China do not control bitcoin. Yes they have a big impact but again, they do not control bitcoin rather they are just one of indicators of the increasing and decreasing of the bitcoin's value. |
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Yes, what you have said is absolutely correct. Bitcoin requires taking risks, but it is incomplete that you are only a risk taker, you must be also an intuitive risk taker. It is the same with the term educated guess. You must understand the market very well so that you will take risks with the highest possibility more often.
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