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Author Topic: Can bitcoin be a more secured way of handling cash?  (Read 2196 times)
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July 18, 2017, 01:21:55 AM
 #21

Bitcoin can be more secured as once it is verified, the transaction goes through and the recipient gets the money, but with cash you can have cases of robbery or counterfeits but those are extreme cases.


The security of Bitcoin still hangs in the balance considering the prevalence of theft associated with it by hackers. Whether we agree or not, Bitcoin is highly risky indulging in. Apart from the slow confirmation and backlog of unconfirmed transactions, we still battle with stolen and hacked wallets. The technicalities involving how Bitcoin works are not easily understood by many, especially the illiterate ones. I really don't think Bitcoin is a secured way of handling cash. The banks are better.

Yes since its because we might gonna lose some money if theirs something bad flactuation happening on it and you can make this current event as a basis on all of this, since if those people bought for the high price and drop the same as now surely they will lose some money with that thats why I can call bitcoin as safe so same as you i would recommend bank so that we can feel secure and we can depend on them interms of security.



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July 18, 2017, 01:33:07 AM
 #22

Bitcoin can be more secured as once it is verified, the transaction goes through and the recipient gets the money, but with cash you can have cases of robbery or counterfeits but those are extreme cases.


The security of Bitcoin still hangs in the balance considering the prevalence of theft associated with it by hackers. Whether we agree or not, Bitcoin is highly risky indulging in. Apart from the slow confirmation and backlog of unconfirmed transactions, we still battle with stolen and hacked wallets. The technicalities involving how Bitcoin works are not easily understood by many, especially the illiterate ones. I really don't think Bitcoin is a secured way of handling cash. The banks are better.

Yes since its because we might gonna lose some money if theirs something bad flactuation happening on it and you can make this current event as a basis on all of this, since if those people bought for the high price and drop the same as now surely they will lose some money with that thats why I can call bitcoin as safe so same as you i would recommend bank so that we can feel secure and we can depend on them interms of security.

If we use banks to save our Bitcoin then we have defeated the purpose of decentralization in the first place and everything is centralized and so we cannot enjoy the 24/7 accessibility of Bitcoin likewise we have to follow long queues to make deposits or withdrawals plus limitations are going to be placed on amount for eligible withdrawals and a whole lot so to me we are better off without the banks else we shouldn't even call it Bitcoin but something else.



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July 18, 2017, 05:20:21 AM
 #23

As it happened to be true, bitcoin is not money, it's a tool for people to manipulate masses into getting their cash instead, imagine you have $1M in $100 bills and without your permission someone takes them and prints them to have the same $1M and they're totally legal and legit, would you want to have such money? yes you'd like nothing more but what about other people not owning even a single $1 yet? they won't come near it when they see that.

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July 18, 2017, 06:45:57 AM
 #24

Bitcoin is safe to a degree, but like anything to do with money it is best to take big precautions. Just like there are thieves lurking to steal your fiat cash, there are hacker and phishing sites there looking for victims to steal your Bitcoin and Altcoins. Safety is relative to each user's sensible actions and how they protect their financial assets.


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July 18, 2017, 06:55:51 AM
 #25

Bitcoin is the most safest way in handling a cash because it use encrypted address where you can regenerate whenever you like so you wont have only one address you can change it. and one more thing bitcoin cannot be hack by anyone or steal a money from you because you need a password for it and a username . btc address is not a username or password it is the address where the money can be delivered on. and that address is associated in your personal wallet. also bitcoin address has a record in blockchain.

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July 18, 2017, 01:39:08 PM
 #26

Bitcoin is the most safest way in handling a cash because it use encrypted address where you can regenerate whenever you like so you wont have only one address you can change it. and one more thing bitcoin cannot be hack by anyone or steal a money from you because you need a password for it and a username . btc address is not a username or password it is the address where the money can be delivered on. and that address is associated in your personal wallet. also bitcoin address has a record in blockchain.
yes i agree on that it ia the safeist way because it has a pasword ang addresses that only the owner  can often it.nobody can rub it out because  it is  virtual.it  cannot be seen by the robbery's aye nor the thief'eye.nobody can get it into your acount.

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July 18, 2017, 07:44:10 PM
 #27

You can't steal any Bitcoin account unless by putting in a random address.

Wow, this response is as wrong as the original post!

Entering a "random address" will most certainly not allow you to steal Bitcoin.

Bitcoin is more secure but if you are careless with your security then you'll open risk for hacking and theft. The amount of bitcoin one can carry vs the amount of soace required, compared to cash, is also a significant benefit. You can carry the equivalent of millions of dollars in your pocket with bitcoin.

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July 28, 2017, 08:03:49 PM
 #28

I think it is better that you hold yours btc in offline wallets because when the price grow up, then you lose that difference in the price and this difference can be very high
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August 26, 2017, 12:58:28 PM
 #29

There's been news going around saying that you need to put in a certain address to able to steal that account. I was wondering if that's fake and bitcoin is a secured way of handling cash.
It will only be unsafe or unsecure, if you become careless to your private key or password to give it to someone else. Even you trust the person as well. still need to be careful. So your bitcoin is really safe and secure.

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August 26, 2017, 02:25:00 PM
 #30

The greatness of bitcoin is where bitcoin has some very interesting features. a very cheap transaction. Bitcoin also has security features. But that does not mean the investment we save will be very safe. There will be hackers who want to steal the bitcoin we have. look for reliable information about how BTC that we have can not be hacked by people who just want to take advantage of the bitcoin we have. Whatever it is about the assets we have there will be no risk.

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August 30, 2017, 11:02:43 AM
 #31

The greatness of bitcoin is where bitcoin has some very interesting features. a very cheap transaction. Bitcoin also has security features. But that does not mean the investment we save will be very safe. There will be hackers who want to steal the bitcoin we have. look for reliable information about how BTC that we have can not be hacked by people who just want to take advantage of the bitcoin we have. Whatever it is about the assets we have there will be no risk.
Bitcoins have amazing features undoubtedly that give them edge over other currencies whether digital or fiat. There are always some evil minds working to snatch money from you whether it is paper money or digital currency. Hackers do keep eagle eye on other’s bitcoins to get rich with shortcuts.

Platio
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August 30, 2017, 11:50:23 AM
 #32

The greatness of bitcoin is where bitcoin has some very interesting features. a very cheap transaction. Bitcoin also has security features. But that does not mean the investment we save will be very safe. There will be hackers who want to steal the bitcoin we have. look for reliable information about how BTC that we have can not be hacked by people who just want to take advantage of the bitcoin we have. Whatever it is about the assets we have there will be no risk.
Bitcoins have amazing features undoubtedly that give them edge over other currencies whether digital or fiat. There are always some evil minds working to snatch money from you whether it is paper money or digital currency. Hackers do keep eagle eye on other’s bitcoins to get rich with shortcuts.
Indeed, all asset on the world also have risk when we saving in them, we just can minimize the risk with asset stable and famous, have a huge community like Gold. If Bitcoin have hacker want stolen our money, other asset also the thief.
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August 30, 2017, 12:09:33 PM
 #33

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
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August 30, 2017, 01:07:14 PM
 #34

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.


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August 31, 2017, 06:00:23 AM
 #35

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.
Only a fool can prefer banks over bitcoins. Bitcoins are safer than banks, many banks in the history got hacked and people lost their huge amounts. We can’t totally rely on banks for the safety of our money. Bitcoins present less risk of getting hacked or robbed. They are safest way of saving money.
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August 31, 2017, 06:17:47 AM
 #36

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.
Only a fool can prefer banks over bitcoins. Bitcoins are safer than banks, many banks in the history got hacked and people lost their huge amounts. We can’t totally rely on banks for the safety of our money. Bitcoins present less risk of getting hacked or robbed. They are safest way of saving money.
Definitely, we can earn when we save in btc unlike in bank instead of earning it tends to have lessen the savings. Btv offer features thay can be used regualary for our convenience. Doing bank transaction were hassle needs to lane,fill up forms and wait

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August 31, 2017, 06:22:42 AM
 #37

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.


Yes of course .Bitcoin is a secured way to handle the cash.If you inverse Your money in bitcoin means .you can keep that for n number of days. Why Not years. That also possible in bitcoin. You can keep all your money in bitcoin. For that you no need to pay a tax also.

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August 31, 2017, 12:52:35 PM
 #38

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.
Only a fool can prefer banks over bitcoins. Bitcoins are safer than banks, many banks in the history got hacked and people lost their huge amounts. We can’t totally rely on banks for the safety of our money. Bitcoins present less risk of getting hacked or robbed. They are safest way of saving money.
Its not actually the safest way because if we are talking about safest way its 100% secure. Knowing that there are possibilties of getting hacked and we must also remember that bitcoin might crash anytime its price for us to lose money. This is why putting all your funds in bitcoin is really risky.It might be good compared to banks but we should limit ourselves and its still better to put or secure fiats on our local banks because we wont able to hear out that banks are being robbed out frequently.Those are just on rare cases and not permanent.


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Tungsten-1
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September 01, 2017, 08:01:43 AM
 #39

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.
Only a fool can prefer banks over bitcoins. Bitcoins are safer than banks, many banks in the history got hacked and people lost their huge amounts. We can’t totally rely on banks for the safety of our money. Bitcoins present less risk of getting hacked or robbed. They are safest way of saving money.
I will appreciate to what you have said. Bitcoins are not far more secure way of keeping money but also a golden chance to increase the worth of what you have with each passing second. BTC is much more reliable way of keeping money.

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September 02, 2017, 03:40:39 PM
 #40

In terms of security from stealing, yes. But I would add something else. If you hold your 10$ in cash, you will be able to buy less goods next year for that because of inflation. You can get small interest if you hold that in bank. But it is better to invest in BTC than to hold that in bank. My point is that BTC is more secured and better way of holding money.
This is really the key feature of bitcoin on which you do really have the full control of your money as long you do have the keys on your wallet.No one would able to take it from you as long those keys arent exposed and no one did able to know that. Talking about price depreciations banks and bitcoin would really be different when it comes on storing money and its potential increase on a single year. Bitcoin is really much better.
Only a fool can prefer banks over bitcoins. Bitcoins are safer than banks, many banks in the history got hacked and people lost their huge amounts. We can’t totally rely on banks for the safety of our money. Bitcoins present less risk of getting hacked or robbed. They are safest way of saving money.
I will appreciate to what you have said. Bitcoins are not far more secure way of keeping money but also a golden chance to increase the worth of what you have with each passing second. BTC is much more reliable way of keeping money.

Well if banks can be hacked so can your wallets. The good thing with btc is that its anonymous and many people feel safe that way but banks also have efficient ways to keep privacy and security. I'd still prefer bitcoin as well though lol

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