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Author Topic: Are bitcoins more secure then Swiss bank?  (Read 2568 times)
Dimelord
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April 02, 2017, 05:06:47 AM
 #21

Just wondering...
As far as our identity is considered,Bitcoin may be secure than swiss bank because if any government requests swiss bank to give details of its citizens who hold account in their bank,then your personal data may be compromised.But it is not the case in bitcoins as you hold your wallet's private key and the governments could not trace you easily.But when value is considered,bitcoins are highly volatile and has high price fluctuations.
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April 02, 2017, 05:35:35 AM
 #22

well in my opinion the comparison of the two is wrong!
with Swiss bank you get fiat and that will always be valid with more or less the same value but you are again putting your money in a bank which is going to be centralized and although it promises high privacy but you can never know the truth.

with bitcoin you get the privacy and anonymity to some extent and you have it on your own since it is decentralized and also with highest security only if you know what you are doing and use a cold storage. but the problem will be price which is volatile which makes bitcoin more of an investment.

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CraigWrightBTC
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April 02, 2017, 05:43:32 AM
 #23

Just wondering...
Of course yes, bitcoin is more secure then any other Banks not Swiss bank only, we have control our bitcoin we are the Banks
we just need knowledge​ to save bitcoin with good way
 there is not decreasing of values in bitcoin is like put money on the Banks because of inflation
 bitcoin is save to protecting us from inflation.
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April 02, 2017, 05:58:59 AM
 #24

yeah...What's your uncertainty, precisely?

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April 02, 2017, 06:12:10 AM
 #25

Well, not so sure, but I think bitcoin still have a better Security settings, because bitcoin is a tool that is used in international transactions, and it must have a high level of security. Well, maybe just a few people who want to penetrate the Swiss banks, but almost all hackers want to take bitcoin.

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April 02, 2017, 06:18:08 AM
 #26

Well, I think you can't really compare bitcoins with Swiss banks. That would be a little unfair.
Bitcoin is an ecurrency with value and banks are ?! banks.
Yes the Swiss economy is one of the most stable ever but let's look at it from another side.
Bitcoins are decentralized i.e, no one holds your money and is of a volaitle price which makes us consider it as an investment as it has a lot of potential in the coming future.

It really depends on whether or not you want to invest.
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April 02, 2017, 06:30:54 AM
 #27

Just wondering...
Yes because bitcoin is decentralized not under any single entity or person.Nobody can force bitcoin to disclose anyones identity because bitcoin is not managed by anyone.Although it is possible to track bitcoin transactions but that is very difficult job
Moreover a bank will always remain a bank regardless it is sited in Swiss or New York. In terms of security, there are a number of ways to have one's coins secured and even though Bitcoin is highly speculative, over time its value can be expected to appreciate, because of its unprecedented and very appealing fundamentals. Interestingly, inflation is not a thing to keep a bitcoiner sleepless nights as does any fiat out there.

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April 02, 2017, 06:32:41 AM
 #28

Just wondering...
I don't think so , because I think we should not compare these two Because Swiss is directly connected with the Fiat money in practical world but bitcoin is virtual and we can use only through online market deals .
Still here I will say that bitcoin is more secure than swis bank Money Because the money in your wallet is only your and in your own hand but in swis bank the money is in another hand .


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April 02, 2017, 06:38:08 AM
 #29

it depend here what you refer to secure, if you refer to local wallet versus website wallet it's entirely on the owner of the wallet to make it secure versus, instead the website could be hacked without the possibility for you to do nothing

if you mean secure as encryption speaking, bitcoin is the most secure, on par with any system that use 256 bit, you can also compare swiss bank to xapo, which is more right here and not to bitcoin itself, since bitcoin is not a bank but a decentralized system

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April 02, 2017, 06:39:32 AM
 #30

...maybe just a few people who want to penetrate the Swiss banks, but almost all hackers want to take bitcoin.

This. The most profound testament of how secure bitcoin really is. Thank you Dr.Osh

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April 02, 2017, 06:56:22 AM
 #31

I think both of them offered a great and secure protection, however I think bitcoin is a bit more secure than bank, I have heard so many attempts on breaching bitcoin but up until now still no success, but for bank I heard somebody success in breaking the system but not the Swiss bank, so personally thought that bitcoin is more secure

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April 02, 2017, 06:59:10 AM
 #32

Just wondering...
Ofcourse bitcoin is more secure then swis bank .
I am not only in favour of the bitcoin Because I am making money .I am supoorting the bitcoin more than swis bank because the bitcoin is own hand bank and your money in your hand and you are only the owner and no one can access ( but condition is that you should remain wiseful Because if you need to made everything secret , I mean not to expose your private key or password for your wallet ) .
So ease of access and unlimited money store in our wallet without any ristrictions is directly saying that which is more better and secure than anything .


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April 02, 2017, 07:11:11 AM
 #33

I can't understand how you can to compare bank's and bitcoin's security? Banks are two type at the same time, internet banking and simply banks in the street. Their system is different from bitcoin, banks hire team of developers to keep their users security safe and also.they fix any issue in transactions. So banks in real life are highly protected to keep gold 100% safe because it's behind money and money is nothing without it. And bitcoin is virtual cryptocurrency which has absolutely different system and transactions here are confirmed by miners on blockchain, also there is nothing behind bitcoin like gold behind money and if we talk security, yes, bitcoin is secure with it's system but wallet security depends on you, you need to keep keys and etc safe area, plus the greatest thing that bitcoin has is that you can keep bitcoins on flash or etc things very safe and to my mind it's the safest method of keeping money, simply there isn't chanse of stoling money.

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iamTom123
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April 02, 2017, 07:20:57 AM
 #34

Interesting putting in that kind of perspective,you are trying to compare two entirely different things,putting cash in a swiss account is secure because the economic system in Switzerland is pretty stable,one of the best.If you want your cash to be available and not lose any of it's worth then putting it in an account in Switzerland is a good option.However,BTC can pay you much higher dividents because it is an investment rather than a secure deposit.

Well, I think OP is trying to compare as far as security is concerned only and not any other thing in relation to Bitcoin and having a Swiss bank account. There is no question, a Swiss bank account can be more secure as they usually will hide your asset away from the prying eyes of any government or institution. All the policies and guidelines are always laid down when you open a Swiss bank account and they are usually not subject to change except in some minor cases. Bitcoin is still evolving and since it is digital they can possibly be hacked most especially on our side. Plus you need a good amount of money to be able to open an account in a secretive Swiss bank.

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April 02, 2017, 07:33:19 AM
 #35

many people who hide their wealth and their money. sometimes some politicians also wiping their money in Swiss banks. This is a public secret mate
but I see in the film the last stand. that swiss bank right now is not seceret as before bank ? is that true?

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April 02, 2017, 07:56:53 AM
 #36

bitcoins and swiss bank are two different things . if you dont want to loose your cash then swiss bank is the best ,well if you want to get value in your investment then bitcoin is the best way to invest in it .

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April 02, 2017, 08:05:16 AM
 #37

Just wondering...
I think it would be our foolness to compare the both these two beca they have difference like the sky and the ground .
The swis bank is in practical life and we can handle them practically and needed more verification procedures .
And a big thing that I don't like that our own money remain in the hand of the swis bank .
But all of that opposite , the money in bitcoin wallet we can use anytime anywhere without any big verification  .
Here no doubt that bitcoin bitcoin is more secure than swis Because no one can enter in the network of the bitcoin algorithm .


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April 02, 2017, 08:11:52 AM
 #38

Banks/central banks/financial institutions/money related organizations and all are backed by physical gold/paper cash, one significant advantages of bitcoin that is virtual in nature there is nothing physically attached to it and everything just depends on the security of private key, it is a cryptography method that keeps everything a secret which goes back to ancient Greece times.

This question of yours is incorrect because bitcoin is the first of it's kind, it's a currency and a bank at the same levels, actually there is no bitcoin outside of a private key's vault it's more like a mobile Swiss bank also you need to have the money first to deposit in a bank but with BTC you are supposed to mine it and create money by doing so.
If you do something that the world powers don't like they can easily block/freeze your funds while no one can touch your coins and if a miner/attacker wants to steal/give away/change anything of your bitcoins they'd need to first invest more than what you have to be able to manipulate the blockchain and even keep raising their hash power in order to stay with the longest chain in other words it is impossible or not worth trying financially and those with great hash power already operating have more than any body else to lose if they ever try to damage the network.

So when I say bitcoin is something unique because of the statement above.
I agree, bitcoin and Swiss bank are completely different things and each one of them has its own domain, bitcoin is a cryptocurrency meant for people to use in their everyday online shopping, and banks are meant for people to put their fiat money in, the good thing about bitcoin is that your money keeps on growing instead of putting passively in a bank.

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April 02, 2017, 08:15:05 AM
 #39

'Bitcoin is safe, if you use it appropriately as a medium of exchange. Its algorithms have been extensively reviewed and it has a reasonable track record in practice, albeit with some hiccups along the way'.
You can trust in bitcoin, btw, Swiss bank is not bad. In my opinion, you can use both of them without be worry about hacking, threating,... I strongly recommend bitcoin when you have an anonymous trading.

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April 02, 2017, 08:17:04 AM
 #40

bitcoins and swiss bank are two different things . if you dont want to loose your cash then swiss bank is the best ,well if you want to get value in your investment then bitcoin is the best way to invest in it .
But, still both of things can be compared to each other based on its safety from many or various perspective, so, it's still comparable even though both bitcoin and bank is really a different thing whereas bitcoin is a currency and bank is the place where people often save their currencies.

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