Amph
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Activity: 3206
Merit: 1069
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November 30, 2015, 03:13:43 PM |
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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. well it's not 20 years anymore, now we are at -6 years so only 14, i think it's worth the way, you can't expect a new technology like bitcoin to skyrocket in 5 years, it's ridiculous |
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AtheistAKASaneBrain
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November 30, 2015, 03:29:14 PM |
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I think whoever comes up with an efficient system to keep people's Bitcoins safe locally will become a billionaire in the next years. Right now, Trezor is a great effort, but we need something better. We will need something more refined, more user friendly, with better aesthetics, and really easy to use. Trezor got the right idea even tho is still rough around the edges.
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Oscoda
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November 30, 2015, 04:14:31 PM |
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Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe.  but if there is another meaning behind the word "safe", maybe you can clarify ? long-term very safe? Hmmm maybe so, but jsut don't forget that it just can go down. Lets just say it is safe for now, because bitcoin is growing. |
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Mickeyb
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November 30, 2015, 04:38:33 PM |
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Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. but if there is another meaning behind the word "safe", maybe you can clarify ? Bitcoin is still a huge experiment guys! Don't forget this. That's why nobody should get over the head and invest more than he can afford to lose, even at this moment! Granted, with each passing day, Bitcoin is safer and safer! |
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Denker
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Activity: 1442
Merit: 1014
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November 30, 2015, 04:53:40 PM |
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Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. but if there is another meaning behind the word "safe", maybe you can clarify ? long-term very safe? Hmmm maybe so, but jsut don't forget that it just can go down. Lets just say it is safe for now, because bitcoin is growing. I think Bitcoin is here to stay. However this does not mean it will be worth a lot, although I hope so of course. It could also be the case that it just will be worth a few dollars.No one knows. Bitcoin with almost being 7 years old is still in experimental phase.That is what we should keep in mind. |
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Slark
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Activity: 1862
Merit: 1004
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November 30, 2015, 05:04:27 PM |
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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 ?
It is never wise to keep ALL your assets accumulated in one place. It does not matter if that is cryptocurrency you stack or shares of some company. If you want to be safe, always split your money around. For now there is no way to blacklist your bitcoin addresses. And your coins must be taken over manually. |
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iv4n
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Activity: 3136
Merit: 1172
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November 30, 2015, 05:14:36 PM |
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What is 100 % safe today? And I belive government will find a way to something if they really wish to. Like some people above me said, all we can do is to believe in BTC. No one can guarantee you what will happen tomorow, or day after tomorow.. for several years. It is the risk u need to take what ever u do. I hear good thing here, never hold all eggs in one basket. So try to have eggs on more then one place, just in case.
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acroman08
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Activity: 2324
Merit: 1075
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December 06, 2015, 04:47:34 PM |
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Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. but if there is another meaning behind the word "safe", maybe you can clarify ? bitcoin is very unstable, the price might drop in a week or up. so i dont know where did you get that "BITCOIN its VERY SAFE" because from what i can see, i woudnt invest half of my assests in bitcoin because it may disappear in a blink of an eye. |
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The Sceptical Chymist
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Activity: 3332
Merit: 6810
Cashback 15%
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December 06, 2015, 04:54:22 PM |
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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 ?
It is never wise to keep ALL your assets accumulated in one place. It does not matter if that is cryptocurrency you stack or shares of some company. If you want to be safe, always split your money around. For now there is no way to blacklist your bitcoin addresses. And your coins must be taken over manually. I agree with this 100%, and I would also stress that diversifying one's assets in the first place is a very good idea. Has anyone here tried that Keep Key device I see being advertised all the time? That looks like kind of a neat device. |
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Denker
Legendary
Offline
Activity: 1442
Merit: 1014
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December 06, 2015, 05:11:28 PM |
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Are you mean safe for investment ? If for Investment in long-term bitcoin its very safe. but if there is another meaning behind the word "safe", maybe you can clarify ? bitcoin is very unstable, the price might drop in a week or up. so i dont know where did you get that "BITCOIN its VERY SAFE" because from what i can see, i woudnt invest half of my assests in bitcoin because it may disappear in a blink of an eye. Putting half of your assets in Bitcoin would be really very bold! 5-10% I think is a good amount for the moment. If the progress in the infrastructure keeps going and the fundamentals will do so as well you can put a bit more into it. Therefore always keep yourself updated what's going on in Bitcoinland. |
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Blue_Panda73
Full Member
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Activity: 126
Merit: 100
fastdice.com The Worlds Fastest Bitcoin Dice
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December 06, 2015, 05:28:39 PM |
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I will put 5-10% of my savings into bitcoin. It is still a very risky investment. The core developers cannot reach a consensus of the new block chain size, it will impede the further adoption of bitcoin.
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bearex
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December 06, 2015, 06:51:13 PM |
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Not really safe, because you dont know what the value will be in like 1 month. It might be $50 per Bitcoin, so it is not really the safest investment.
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BigBoy89
Legendary
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Activity: 1512
Merit: 1011
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December 06, 2015, 07:19:47 PM |
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bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow
when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin
I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ 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. It could be vice versa as well imagine if someone bought bitcoins at $394 which is current rate and after few years he or she finds out that the value of Bitcoin is $1000 ? The reason behind my point is the pace at which BTC has grown |
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virtualx
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December 06, 2015, 08:00:48 PM |
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Is it safe to keep all of my assets in Bitcoins? And how Department for Combating Economic Crimes, can affect my account? What permissions they need , to freeze all my money ?
Bitcoin is safe to use if your medium is secure (computer, phone, house). If you are in control of your private key, nobody can take your coins. The bitcoin price is moving up and down, this may be a risk for you. Some governments demand you to have a bank account (a commercial enterprise, mind you) . I am not sure if living without a bank is legal in your country. |
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niallo27
Member
Offline
Activity: 70
Merit: 10
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December 06, 2015, 08:06:51 PM |
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bitcoin is relatively safe, in the long term, don't look at the short term, plenty of manipulation going one, bitcoin need still plenty of time to grow
when everything about its problems will be settled, i beliave you will see the real usage of it, big merchants are waiting that after all, no reason for them to not accept bitcoin
I wouldn't say bitcoin is safe in the long term. Imagine someone bought bitcoins at 1000$ 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. It could be vice versa as well imagine if someone bought bitcoins at $394 which is current rate and after few years he or she finds out that the value of Bitcoin is $1000 ? The reason behind my point is the pace at which BTC has grown I started buying bitcoin at 300 euro and now its over 360 and that was only a month ago. |
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MaritiJames3
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December 06, 2015, 08:14:11 PM |
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Like any service with money you need to take security measures. If you do this Bitcoin is just as safe or even safer then any other form of payments.
Make sure to encrypt your wallet.dat f.e.
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Altynbekova
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December 06, 2015, 08:16:00 PM |
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Encrypting your wallet is just the begin. Proper storage of your password or printing it to a paper wallet are also advice.
Don't download stuff from illegal websites. There a lot of viruses that can you steal your wallet details.
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HarryKPeters
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December 06, 2015, 08:49:16 PM |
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Offcourse it is safe. Why do you think so many people are using bitcoin. Like paypal etc. make sure to take necessary security precautions.
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CrimBit
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December 07, 2015, 09:31:48 AM |
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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 ?
very safe your money can't be freeze although he is satosi nakamoto |
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Pollak
Full Member
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Activity: 182
Merit: 100
Pollak
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December 07, 2015, 11:23:16 AM |
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The investment part is risky but you owning bitcoins is your responsibility as in the way you store them up and such. You are the one who needs to protect them from being stolen as you would by doing so with a regular wallet.
If you're going to invest into bitcoin for several years you're going to need that safety.
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