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Author Topic: Is Bitcoins safe?  (Read 89867 times)
Snipe85
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November 29, 2015, 01:18:42 AM
 #21

No department can freeze or take over your Bitcoin account. When dealing with Bitcoin usually you are your own worst enemy. The number of people who got their money stolen compared to the people who were careless and lost them would be like 1:50.

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November 29, 2015, 08:29:30 AM
 #22

bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow

when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin

I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ and after a few years they find out the price is at 300$, do you consider that safe? Of course not because it's not.

my definition of long term wasn't 2009-2013, but 20 years like satoshi proclaimed with his quote, so the last ath does not count anything at this point, wait for 2030 and if by then you still have to overcome the loss about the 1200 ath then you might be right
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November 29, 2015, 09:05:24 AM
 #23

If you want to hide some money from your government than bitcoin can be safest way to store. But buying bitcoin anonymously is quite hard, you may post ad in localbitcoins and say you will deliver cash in some place where seller can pick it up. In this way you don't have to reveal even your email to seller.  Cool

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November 29, 2015, 10:06:14 AM
 #24

Truth be told, it really isn't. Bitcoin is a fluctuating currency. If When quantum computers are invented, Bitcoin will either have to up it's cryptography, or die out. If there is a new cryptography being introduced to Bitcoin, the price will be highly affected when people get the idea that bitcoin has to keep changing into their head. I'd say keep your investments in fiat unless your local currency is worse than Bitcoin, which I highly doubt.

looking for a signature campaign, dm me for that
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November 29, 2015, 11:05:16 AM
 #25

Safety regarding value of Bitcoin is on the positive side; from our current 'stance' (plm 350 USD) we'll probably go up (maybe a little, maybe gigantic) but as said before, a total collapse also cannot be ruled out. All-in on crypto could mean extreme wealth in the future for you or utter financial devestation. Its like gambling, you see  Grin

Also, you better not store your coins on an exchange; there's always the possibility they disappear with your money/crypto ... !
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November 29, 2015, 02:25:47 PM
 #26

Truth be told, it really isn't. Bitcoin is a fluctuating currency. If When quantum computers are invented, Bitcoin will either have to up it's cryptography, or die out. If there is a new cryptography being introduced to Bitcoin, the price will be highly affected when people get the idea that bitcoin has to keep changing into their head. I'd say keep your investments in fiat unless your local currency is worse than Bitcoin, which I highly doubt.
Investment in FIAT is totally waste, it will reduce your buying power.

If not bitcoins, try real estate (Choose the best land in the best city)

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November 29, 2015, 02:39:58 PM
 #27

Well.. If u do it right, government can't and won't find out anything about ur Assets in BTC.
Store them in several Paperwallets and ur mostly done.

Noone can guarantee you that the price of BTC won't fall.. In the end.. its an investment like any other.



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November 29, 2015, 04:31:51 PM
 #28

Noone can guarantee you that the price of BTC won't fall.. In the end.. its an investment like any other.

Not all investment can give high ROI like Btc can give.

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November 29, 2015, 04:59:56 PM
 #29

ive seen it all now,  someone with a name 'Financial Genius' asking such  stupid question.... Undecided
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November 29, 2015, 05:21:28 PM
 #30

Noone can guarantee you that the price of BTC won't fall.. In the end.. its an investment like any other.

Not all investment can give high ROI like Btc can give.

This has nothign to do with how safe it is. The goal of bitcoin is transactions, then we need a stable price.

WIthout it, it will be hard for it to be considered stable.
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November 29, 2015, 05:34:21 PM
 #31

If you mean the price bitcoin is not safe. Maybe now is stable, but who knows about the future if bitcoin will still here or not.
I hope it will be here. But always have a back up. Because Bitcoin is not that safe after all.
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November 29, 2015, 05:49:04 PM
 #32

Is it safe to keep all of my assets in Bitcoins? And how Department for Combating Economic Crimes, can affect my account?  What permissions they need , to freeze all my money ?

All of your assets in bitcoins? It depends on your computer security and the market price. Nobody can freeze your bitcoin. The bitcoin market price fluctuates, it will go up and down. Its' safe from confiscation from any party, be it criminals or the government, as long as you can keep your private key secret.

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November 29, 2015, 11:24:31 PM
 #33

Bitcoin is safe , I think.
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November 29, 2015, 11:30:42 PM
 #34

Bitcoin is safe as an investment for sure, but people should never ever keep all their money in just one investment. At this point my personal situation is that Bitcoin right now forms 25% of my total wealth. I'm only in Bitcoin as it is right now, I have no other investments that I am in. I won't feel comfortable to let my wealth ever go over 50% in form of investments.

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November 29, 2015, 11:37:12 PM
 #35

Noone can guarantee you that the price of BTC won't fall.. In the end.. its an investment like any other.

Not all investment can give high ROI like Btc can give.

Implying that other investments than bitcoin wont give high profit, how do you think all millionaires and billionaries in the world have achieved what they have? Investing in bitcoin? I don't think so.




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November 30, 2015, 01:42:26 AM
 #36

Nothing is safe alone. You have to diversify your assets. Rule no.1: Don't put all eggs in one basket.
Bitcoin is safer than other assets, still you have to %100 KNOW what you are doing.

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November 30, 2015, 03:13:13 AM
 #37

The DEC can't affect your account unless they break into your house or something. Are you doing anything illegal, that will make them do that? Probably not.

Bitcoin, if you secure it properly from hackers, is extremely safe. If your country closes it's banks, then you still have bitcoin, as you are your own bank.
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November 30, 2015, 03:59:19 AM
 #38

You can't be sure if storing all your assets in Bitcoins is safe. There's always the likelihood of it suddenly plummeting for a random reason. Consider Bitcoin an investment, but also pretty much everything else. The only difference with Bitcoin is its high volatility in comparison to other "safer" alternatives.

If you truly think that Bitcoin is the way to go, do what you will, but you'll find it hard to spend your money without FIAT.

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November 30, 2015, 04:07:07 AM
 #39

Truth be told, it really isn't. Bitcoin is a fluctuating currency. If When quantum computers are invented, Bitcoin will either have to up it's cryptography, or die out. If there is a new cryptography being introduced to Bitcoin, the price will be highly affected when people get the idea that bitcoin has to keep changing into their head. I'd say keep your investments in fiat unless your local currency is worse than Bitcoin, which I highly doubt.
Quantum computing only affects ECDSA in Bitcoin, SHA256 hashing etc, isn't compromised. This, however means that an address's private key can be deduced from a public key. A public key is only broadcasted if a transaction is sent. This would take a few weeks for a large scaled quantum computer to crack and hence, if one doesn't reuse address, there is no significant danger. It is very easy for Bitcoin to shift to another algorithm.

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November 30, 2015, 02:13:32 PM
 #40

bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow

when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin

I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ and after a few years they find out the price is at 300$, do you consider that safe? Of course not because it's not.

my definition of long term wasn't 2009-2013, but 20 years like satoshi proclaimed with his quote, so the last ath does not count anything at this point, wait for 2030 and if by then you still have to overcome the loss about the 1200 ath then you might be right

I would say that any investment that takes so long it's not worth it all. 20 years is a massive time lapse, there is no way to know what will happen with bitcoin or even with the world in 20 years. What if bitcoin only goes to 1000$, would that be worth it? No, I mean you would obviously look for something like each bitcoin to be worth 10k at least and you don't know if that will indeed happen.




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