The reason why Bitcoins is the safest system

[arief.sutono]

The way you do it is not quite right. You basically say just because bitcoins and banks use the same cryptography it keeps them safe. but you are wrong. For example looking at bitcoin gold, the latest altcoin shame. it uses the same cryptography and even more it is a bitcoin fork. but not safe at all. there have been a few recent successful attacks recently.
What makes safe bitcoins begin with cryptography and is then followed by a system of war that has been tested and attacked (attack failed) over the past few years. it's also the safest because all of the hashing power that goes into generating new blocks. Thanks #CMIIW

[1715678596]

1715678596

[1715678596]

1715678596

[1715678596]

1715678596

[bloodyvio]

blockchain is what makes bitcoin safe
by using blockchain technology all data transaction flows must be through confirmation
in order to prevent data manipulation
thanks to the blockchain because with it the security of the data is more assured

[qiqide]

Pessimists suggest that bitcoin may collapse. Experts Saxo Bank does not exclude that the rate can rise to 60 000 dollars, and then sharply collapse to 1000 dollars. The probability of this scenario is estimated at 10%.

[heureca]

By the way I don't think that BTC is the safest way to hold your money. Yeah, BTC is very perspective as main criptocurrency but its price is not stabilized enough.

[TheGreatUnknown]

Indeed! Block chain is a chain of digital that contain records of transaction and as a chain each block is connected one after another, before and after it, that makes it difficult to hack by the hacker because he also needs to to change the block containing that record as well as those linked to it to avoid detection.

[iliev41]

blockchain is what makes bitcoin safe
by using blockchain technology all data transaction flows must be through confirmation
in order to prevent data manipulation
thanks to the blockchain because with it the security of the data is more assured

The blockchain technology that it’s made of prevents it from being counterfeited. It also means it is not owned, issued or controlled by any one single group or party.

[Msile]

It doesn't matters how large a bank is, do you know how many banks ended up failing during the last recession. What makes Bitcoin safe and secure is its hash power and it being decentralized. Also the governments can confiscate your bank accounts but they can't do it with your Bitcoin wallets.

[senne]

A decentralized system helps you provide a safe heaven to your wallet, in case of Bitcoin you are the company of your coin and no one can access your money unless they have the safe key. You can hold your coins for as long as you want without any yearly or monthly charges to any company, government of any country does not have any right to know your earnings. Bitcoin provides the safest system because it is timely updated whenever needed and the decentralized system treats everyone equally removing any special treatment for anyone.

[Arroware]

of course for us the simplest and safest bitcoin system to keep some of our profits, because bitcoin is also a good investment that we do and also many benefits both in the short and long term.

[OscarWatson3213]

 Bitcoin is said to be the safest system  since it is a virtual currency people are interested in Bitcoin investment . People trust Bitcoin since it suppress fraud and identity theft.It’s faster, cheaper, more secure and immutable. Cash is controlled by banks while bitcoin has owners.

[jonas5222000]

Bitcoin is so secured because you didnt know if who is the owner of one transaction ,so you can hide you identity by using it,but i heard some news about it that many criminal was using it as a payment method for doing their criminality.

[bad_apple]

The reasons why Bitcoin is considered as "safe" system:

1. It has freedom in payment
- Bitcoin is very possible to be able to send and get money anywhere in the world at any given time.
- Everything is POSSIBLE, no borders, no races.

2. It has the control and security measures
- It allows users to be in control of their impending transactions that help Bitcoin to keep the network safe.
- No unwanted extra charges to be added at all.

3. Information is TRANSPARENT
- It is due to the modern technology called the "BLOCKCHAIN", in which al finalized transactions are available for everyone to see given that the personal information is kept hidden.
- Everything undergoes "verification" on all users inside the blockchain.

4. It has low fees

5. It holds fewer risks for merchants
- Merchants are protected from potential losses that might occur from frauds.



Reference: https://coinreport.net/coin-101/advantages-and-disadvantages-of-bitcoin/

[Briella18]

Bitcoin is a new technology that makes it easier for financial services and it is cheaper, and this is more reliable, faster currency to move up and down.

[honey7]

Bitcoin is  a decentralised currency that cannot be under control of anyone. Its easy to transact in bitcoin and so many opportunities are there to invest in bitcoin.That makes bitcoin safest currency

[jennie.alexander]

Bitcoin is safe mainly because it is integrated on the Blockchain technology and this guarantees safe and secure transaction. Also how you handle your wallet information and security passes is very important. In the future hackers will find holes in Bitcoin's system and it will steal.

[noisybit]

I think bitcoin is safer compared to most other systems and sometimes people doubt it is afraid they think that bitcoin can be hacked or stolen by hackers maybe it's all wrong I think bitcoin is very safe and secure

[FrankHilk9]

The NAC Foundation utilizes a biometric identification system to verify owners of wallets that hold the AML BitCoin. This will provide additional security and safety features for ownership and use of the AML BitCoin.

[Turkish88]

first reason is blockchain never be haked before.
Hashing function dont have backward function.
one more reason is transperency all funds movements

[Lhaine]

It doesn't matters how large a bank is, do you know how many banks ended up failing during the last recession. What makes Bitcoin safe and secure is its hash power and it being decentralized. Also the governments can confiscate your bank accounts but they can't do it with your Bitcoin wallets.

I agree, government can not get your bitcoin because you are the only one who knows your private key or any password, so they cannot get it, bitcoin is not totally safe because there are a lot of scammers and we need to be careful to them.

[realcrypto]

The same thing that befall our traditional bank account can also befall our bitcoin wallet. It now lay on our hand to be extremely careful with our bank  details and password as will as wallet privates.