Is Your Money Safer In Crypto than at the Bank?

[Creedact]

In fact, in some countries, the fact that funds are placed in banks may not necessarily be safe, but people do not have better choices. Thus I believe that the investment in Bitcoin and another altcoins will be even more profitable, but it is still the most secure and remains to be discussed.

[Gifolote]

it's safer to keep the money in the Bank, only there will be almost no profit.

[onesalt]

If you do not live in a 3rd world country or worse, banks are still safer in my view. But if you do not trust your country's government regarding economical acts, you can keep your money in crypto, of course.

[iaxakov]

If you do not live in a 3rd world country or worse, banks are still safer in my view. But if you do not trust your country's government regarding economical acts, you can keep your money in crypto, of course.

I think that the cryptocurrency is much safer safe in the house. Cryptocurrency you will not be taken away ever, because they simply can not do it.

[Papaczed]

Digital wallet and bank are both good then they have different worth so i think there's no need to debate another thing we can earn non-stop money in life so better to use all kinds of ways to save our money for more secure actually i use both then i save also some in my place for more secure and i plan to save in more place because for my real more safe,i think mind don't have limit that's why we always think better like for thinking our safety for our future that's why we need all

Yes I agree. Both banks and digital wallet have their own of security that is offered to all its clients and users. It’s just that the banks offers insurance to give assurance to its client that their money is safe with them and they wouldn’t be in zero balance whenever something bad came up.

[slaman29]

I think we've to be a bit practical here. If you're talking about savings you don't want to touch, then of course you're thinking of money you want protected, and if possible insured. Most government banks will do this, but then again, what happens when your government goes broke and can't keep its insurance promises? What happens when your fiat becomes useless and even countries like Argentina can't attract savings with high interest rates?

Practical: level out your risk. If you live in a strong economy, then save some. If you don't, save abroad or in another currency. And make Bitcoin one of your savings. Never everything in one, it's just silly.

[princebridge7]

both of them are no good, because the good is to save money in the iron lock in locks by you, anti fuel and waterproof. LOL

I think saving the safest money is in the Bank, because the Bank has full trust in its customers, so when the customer loses his money then it can sue to the Bank to replace his money.

[4ernuy]

Your money is safe only in your pocket. Investing is always a risk. If you want to earn a lot, then be prepared to lose a lot.

[Nivelir]

Today it is not so. Many crypto-currency projects are closed, because they can not finance their development. But many projects did not have a goal to do anything. It's just a hoax. Therefore, for many, this is just an excuse.

[Clairvoyance]

In my opinion, it is a lot safer and better. A quick scan from etherscan can give you details regarding your holdings. Keep in mind to store your wallets offline. No hassle on extra charges which banks from time to time force on their users.

[balfouri]

For me bank is sefer than cryptocurrecy because the bank was in bankruptcy you may get few amounts fo insurance.If cryptocurrrecy will gone,we have no assurance to get our money that we invest.

[doctordidi]

if for security I think it's safer to save our money in the bank. but if you talk about more profits bear the dicrypto earn on the bank. indeed he is all there are risks.
 

[BlueBobbins1]

I don't think it's worth comparing these things.Everywhere there are big risks of losing all your money.That's only in the Bank when you can not increase your money as in the crypto-currency world!

[khalifa25]

Having your money in the bank provides a more secure option. That is why you are getting big fees when using banks as they provide extra protection. On crypto, on the other hand, you are responsible with your crypto. That's why it is decentralized.

[Bitcoincole]

Even banks has their own share of failure when it comes to security though compared to crypto it is far more safer from hackers and scammers. However, when it comes to profitability banks are almost zero percentage compare to crypto earnings and this is the risk one has to take in order to achieve financial freedom.

[Podscart]

I think yes, money more safely in crypto that at the bank because only you have full control of your money. You can be your own bank

[reijusama2583]

Tim Draper: More Secure in Bitcoin Than the Money Sitting in Wells Fargo

Venture capitalist Tim Draper is bullish on Bitcoin and believes it will reach $250,000 in the next four years.

During a debate hosted by Intelligence Squared and the Adam Smith Society, Tim Draper was asked how Bitcoin compared with his previous tech investments in Hotmail, Skype, and Tesla. He replied bullishly, saying, “Bitcoin will be bigger than all three combined.” However, Draper didn’t leave it at that — he thinks it will be bigger than the iron age, the Renaissance, and the internet and says that the nascent technology will affect the entire world in a faster and more prevalent way than ever imagined.

The Debate: “Bitcoin is more than a bubble and here to stay.”
Backed up by Patrick Byrne (CEO of overstock), Draper took on Financial Times journalist, Gillian Tett, and Professor of Law, Eric Posner, both of whom argued that Bitcoin is indeed a bubble and strongly contested Draper’s claims. Posner and Tett called into question the “strengths” of Bitcoin, arguing that they could be regarded as weaknesses. Posner suggested that the pseudonymization of identity enabled by the technology makes Bitcoin transactions the perfect vehicle for sophisticated criminal transactions. Tett focused on the risk involved with trusting computers with finance as they can be hacked, are prone to faults, and that Bitcoin is a “terrible store of value.”

These arguments won’t be anything new to anyone who has studied the space, and the rebuttals of Draper and Byrne won’t come as a surprise either. The pair acknowledged that Bitcoin was imperfect and drew attention to the fact the technology was designed to be open source so that unforeseen problems can be managed by the community. Byrne also pointed out that although Bitcoin has been “hacked at” more than anything in history, but unlike banks, it has yet to be defeated.

Draper was more brazen in his responses and implored the crowd to use fiat if they were looking to facilitate their own criminal activity as many Bitcoin criminals get caught. The venture capitalist responded to Tett’s admission that she invests in several different fiat currencies by saying, “I’m so much more secure in my Bitcoin than I am in the money that’s sitting there in Wells Fargo.”

Who is right?
The short answer is it’s far too early to tell, but it is good to see the subject being discussed in this manner. Before the debate, Gillian Tett remarked that if both sides of an argument aren’t heard in the same room, on the same day, then the conversations can “go past one another.” It’s probably safe to say she’s right here because, although there is no shortage of media on either side of the argument, real debate on the subject can be difficult to find.

If crypto is going to head down the road Draper expects, its advocates need to be able to argue their case outside of the crypto community, and debate should be welcome as it not only gives both sides the ability to speak but also the ability to listen.

Draper’s comments are to be expected
As crypto enthusiasts, it’s easy to agree when figures like Draper sing the praises of Bitcoin, but we shouldn’t let confirmation bias get in the way of the issues. Draper is a successful investor, and he hasn’t arrived there without making mistakes. He could be wholly right, wrong, or somewhere in between — the latter is most likely. Draper allegedly owns 30,000 BTC, so he has a vested interest in Bitcoin’s success. That does not mean he is wrong, but it does mean his comments should be taken with a pinch of salt. Well-reasoned arguments are far more convincing than hype and chest beating because they allow people to make up their own minds.

The emergence of DLT might eclipse the impact of other innovations, but for now, the emphasis is not on critics to prove the crypto community wrong. It’s up to those who champion DLT to convince the world they’re right.

Originally published at cryptodisrupt.com

I think your money is much secure when you place it in the bank because it is hard to get the information of it a like crypto it can be done by phishing to know the info or other way that hackers can. It is much safer to place your money in the bank because it is secured all the time that no one can intrude into your money but it less profitable compare if you put it in crypto. They are both contrast with each other but at the end of the day it is based on your own perception on what is safer and secure. 

[RyabovRavel86]

It is safer to store money in the bank than in the crypto currency. The bank risks losing them.

[Satish147]

Tim Draper: More Secure in Bitcoin Than the Money Sitting in Wells Fargo

Venture capitalist Tim Draper is bullish on Bitcoin and believes it will reach $250,000 in the next four years.

During a debate hosted by Intelligence Squared and the Adam Smith Society, Tim Draper was asked how Bitcoin compared with his previous tech investments in Hotmail, Skype, and Tesla. He replied bullishly, saying, “Bitcoin will be bigger than all three combined.” However, Draper didn’t leave it at that — he thinks it will be bigger than the iron age, the Renaissance, and the internet and says that the nascent technology will affect the entire world in a faster and more prevalent way than ever imagined.

The Debate: “Bitcoin is more than a bubble and here to stay.”
Backed up by Patrick Byrne (CEO of overstock), Draper took on Financial Times journalist, Gillian Tett, and Professor of Law, Eric Posner, both of whom argued that Bitcoin is indeed a bubble and strongly contested Draper’s claims. Posner and Tett called into question the “strengths” of Bitcoin, arguing that they could be regarded as weaknesses. Posner suggested that the pseudonymization of identity enabled by the technology makes Bitcoin transactions the perfect vehicle for sophisticated criminal transactions. Tett focused on the risk involved with trusting computers with finance as they can be hacked, are prone to faults, and that Bitcoin is a “terrible store of value.”

These arguments won’t be anything new to anyone who has studied the space, and the rebuttals of Draper and Byrne won’t come as a surprise either. The pair acknowledged that Bitcoin was imperfect and drew attention to the fact the technology was designed to be open source so that unforeseen problems can be managed by the community. Byrne also pointed out that although Bitcoin has been “hacked at” more than anything in history, but unlike banks, it has yet to be defeated.

Draper was more brazen in his responses and implored the crowd to use fiat if they were looking to facilitate their own criminal activity as many Bitcoin criminals get caught. The venture capitalist responded to Tett’s admission that she invests in several different fiat currencies by saying, “I’m so much more secure in my Bitcoin than I am in the money that’s sitting there in Wells Fargo.”

Who is right?
The short answer is it’s far too early to tell, but it is good to see the subject being discussed in this manner. Before the debate, Gillian Tett remarked that if both sides of an argument aren’t heard in the same room, on the same day, then the conversations can “go past one another.” It’s probably safe to say she’s right here because, although there is no shortage of media on either side of the argument, real debate on the subject can be difficult to find.

If crypto is going to head down the road Draper expects, its advocates need to be able to argue their case outside of the crypto community, and debate should be welcome as it not only gives both sides the ability to speak but also the ability to listen.

Draper’s comments are to be expected
As crypto enthusiasts, it’s easy to agree when figures like Draper sing the praises of Bitcoin, but we shouldn’t let confirmation bias get in the way of the issues. Draper is a successful investor, and he hasn’t arrived there without making mistakes. He could be wholly right, wrong, or somewhere in between — the latter is most likely. Draper allegedly owns 30,000 BTC, so he has a vested interest in Bitcoin’s success. That does not mean he is wrong, but it does mean his comments should be taken with a pinch of salt. Well-reasoned arguments are far more convincing than hype and chest beating because they allow people to make up their own minds.

The emergence of DLT might eclipse the impact of other innovations, but for now, the emphasis is not on critics to prove the crypto community wrong. It’s up to those who champion DLT to convince the world they’re right.

Originally published at cryptodisrupt.com

I think your money is much secure when you place it in the bank because it is hard to get the information of it a like crypto it can be done by phishing to know the info or other way that hackers can. It is much safer to place your money in the bank because it is secured all the time that no one can intrude into your money but it less profitable compare if you put it in crypto. They are both contrast with each other but at the end of the day it is based on your own perception on what is safer and secure. 

In my view Storage of your money in cryptocurrencies is more secure than holding your money in banks. Banks can do whatever when the money is in their hands. Right now the solutions for saving your crypto are building by various developers. This is the time like where we used to send mail in the bulky desktop and connecting ISP and modem. Until you keep your private keys from the internet, you are safe from being theft or hack of your money. Right now cryptocurrencies are solving bigger problems than security. Taking out control from the centralized authorities and distributing the power to the people all over the world. The people who are not able to access the financial services till now, they will be able to access the services conveniently within their hands from anywhere in the world.

[Olega252]

Investing your money in cryptocurrencies, you can lose everything, but there is a chance to multiply your investments by 4-5 times, so we'll see who will stay in this world in banks