Aandosq1
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May 29, 2018, 03:19:13 PM |
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
Bitcoin is a consensus network that enables new payment systems ... Low risk for sellers - Bitcoin transactions are very secure, can not .... Bitcoin is money, and money is always used for legitimate and illegal purposes. |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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Stormyblue
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May 29, 2018, 03:20:04 PM |
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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. Everyone must be very vigilant and careful because you can be easily scammed. Don't respond to emails that you don't know the source and don't follow links on unknown sites to access your wallet.
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mutrang23
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May 29, 2018, 03:22:01 PM |
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I realized that without any system is safe. Bitcoin's network is the first blockchain system, so the safety level is lower than other Blockchain systems. In the future hackers will find holes in Bitcoin's system and it will steal.
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badakjawa
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May 29, 2018, 03:30:59 PM |
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we know that understanding bitcoin and explaining bitcoin to the public is not easy, so we often misunderstand about bitcoin.
bitcoins do not print like fiat currency, and the mining is a process to verify every bitcoin transaction.
miners also maintain the integrity of every bitcoin transaction data and information, all data stored in a database called blockchain.
because blockchain is always maintained by the miners integrity, so the validity and security in the bitcoin system become difficult to hack.
because it does not use a centralized, so server to make transaction security very good.
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GIGZI INDEPENDENT WEALTH MANAGEMENT Crowdsale Starts on 23rd November 2018 |
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a2offrb
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RISE WITH RAYS FOR THE FUTURE
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May 29, 2018, 04:10:41 PM |
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Beautiful write ups had been discussed, all tailoring towards the bases on which Bitcoin are secured, trusted, dependable and reliable for all its's holders. May I just fairly elaborate few flaws or loopholes which could only be hindrances to why Bitcoin may not be that secured for it's holders no matter how Cryptographic it is in nature or being fully unhackable due to it's Peer to peer nature guided by it's Decentralization Ethics.
1. If the Bitcoin Holder apart from negligently, ignorantly, mistakenly or obliviously released his Private Key to another Trusted or Untrusted party, He operates his computers at public places like Hotels and Parks, this may prone His Bitcoin to insecurity.
2. If Exchangers do not implore a Highly standardized system, ie using Sophisticated Hardwares like for instance Ledger Nano S, also left these Bitcoins to Fishing nature of slippering through back doors to Hackers that now uses Advanced Machines that Traces un well protected Bitcoin Transaction on line for their attack.
3. If the use of strong Pass-phrase is also not employed for Wallets encryption where necessary, could also jeopardized Bitcoin Security.
All these are submitted out of few all other reasons which may hinder Bitcoin 100% security. Aside these enumerated, Bitcoin is just one of the safest anonymous Coin on line for confidentiality and comfortability.
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19nataliya12
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May 29, 2018, 07:57:35 PM |
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was originally perfectly designed, which allowed him to literally outstrip his time not only and not so much, but also in reliability
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jpnl0004
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May 29, 2018, 09:03:34 PM |
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So far bitcoin has been safe reasons been that its system has been designed in such a manner that gives us 100% security one can only lose his or her btc due to carelessness or negligence which giving access to your private key.
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adzino
Copper Member
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Merit: 574
www.Crypto.Games: Multiple coins, multiple games
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May 29, 2018, 09:52:39 PM |
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
There is no way you can compare banking and bitcoin together. They are totally different. One of them is centralized and the other is decentralized. In bitcoin, you are the sole owner of your own coins, which is not the case with fiat. And you also store it on your own wallet, but while banking you store and give your money to someone else (financial institution). Just sharing keys or using a bad wallet isn't the cause of losing bitcoin. You should make your your computer is free from any kind of infection. |
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tarable
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May 29, 2018, 10:27:02 PM |
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So far bitcoin has been safe reasons been that its system has been designed in such a manner that gives us 100% security one can only lose his or her btc due to carelessness or negligence which giving access to your private key.
That's right, the bitcoin system makes it easy for us to go into safety, even if sometimes the problem persists, but we do not have to worry about any of it, it must be better. |
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Nezerlan
Jr. Member
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Activity: 214
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May 29, 2018, 10:30:26 PM |
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
Well said. I believe people were plain careless with their wallets and it is why they get hacked and have their funds stolen easily. Bitcoin trumps bank transactions because it is faster and cheaper to execute. If banks start to consider blockchain technology then maybe their banking operations may improve |
RideNodeTM (RIDE) is the First American Ride and Transportation Blockchain and Virtual Currency.
https://ridenode.io/[/cent |
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Kay94
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May 29, 2018, 10:43:59 PM |
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
This depends on your saving system and how you manage your password and also its decentralized system and based on a blockchain which makes it very secured |
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hatshepsut93
Legendary
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Activity: 2968
Merit: 2147
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May 29, 2018, 11:01:50 PM |
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😓 Neither do I
I just wanted to say that
Banks are based on cryptography and if people can trust them then the Bitcoins ( who are also based on cryptography ) can be trusted too.
This is wrong, it's like saying that cars and planes are the same because they both have wheels. Banks, as well as a lot of other industries are using cryptography for secure communications and user authentication. In Bitcoin it is used for user authentication and establishing consensus in decentralized environment. These systems are too different to simply reduce them to "cryptography". Also, people are right to doubt cryptocurrencies and blockchain, they are still new and experimental, and only few coins like BTC or LTC can be considered safe. There are many examples of crypto projects having bugs and vulnerabilities that result in severe loses for their users, so being "blockchain" doesn't mean that it's secure and trustworthy. |
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hibiscus
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May 29, 2018, 11:18:17 PM |
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Bitcoin is one of the safest system to invest because it is a decentralized one so there is not any type of the controlling authority over it and due to the anonymity only the buyer and the seller knows about the deal and its all transactions are recorded in the electronic ledger with the block chain technology.The notable advantage of the block chain technology is that once it is recorded means cannot be altered.So the entire system of the bitcoin is found safest and more people are attracted to it for the investment.
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KingScorpio
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May 29, 2018, 11:22:17 PM |
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Hey everyone I have heard newbies and other people asking about how safe is the Bitcoins and it's transactions well I think it will be beneficial to have a little discussion on this .
First of all if you own a bank account in a good bank then you should know that its very hard to hack one's bank account, it's almost impossible unless done due to personal flaws, like sharing your key or bank account details or something , you know the system behind Bitcoins and the system behind banking system is same .
Something by the name of cryptography whose Advance form is block chain . It's a complex code involving complex mathematics and the transactions are only completed through very complex and complicated steps impossible to penetrate.
For Bitcoins the same thing operates but with no intervening part or whatsoever , it's p2p direct transactions and this is even more secure and private.
The reason why you hear news like :- someone got their Bitcoins stolen or something is because they have personal flaws , they shared the private keys or the password with someone else..or they used a bad wallet.
It's on you how safe you make it .
bitcoin looks safe and stable as everyone can join it, it is however impoverishing the collective, through its ressource waste. |
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Chaelbrin
Newbie
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Activity: 140
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May 30, 2018, 12:07:26 AM |
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Not at all like traditional coinage-inclined monetary standards, the cryptographic guidelines connected to bitcoin influence their proprietors to evade similar dangers. Bitcoin installments are completely scrambled/cryptographic, so individual data is protected and undetectable to others. What other individuals can see is just the address utilized for the exchange as it were. You are likewise shielded from wholesale fraud cases that uncontrolled in normal saving money.
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keycellko
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May 30, 2018, 12:34:06 AM |
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Well yes bitcoin is safe. All transaction is recorded in a public ledger. However we are not protected with hacking. And because it is anonymous it is rather hard to prove thar we are the original owner. But many people likes anonimity that bitcoin offers. And not to mention it being decentralized makes it appealing to inveztors. We are all tired of a centralized currency that is controlled by the government.
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gesdan
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May 30, 2018, 01:05:14 AM |
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yes the bitcoin system is the safest place that I know to store the bitcoin and make the transaction, we can see through the transaction history of an address but we can do anything with it, its named it transparency, we don't have it in the bank account. I agree with you again with the news said people that lost their bitcoin because of hacker, maybe they just forget to save the private key in the safe place so the hacker can use it and transfer all bitcoin in to their wallet
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Chaelbrin
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May 30, 2018, 01:42:56 AM |
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There are great things and awful things with regards to bitcoin exchanges. The great side of this is clearly is on the grounds that it is decentralized. You will remain unknown amid the exchanges you make. Be that as it may, there is likewise an awful side. Not at all like banks, the exchanges are more secure for me on the grounds that the general population who can hack and take your cash can get followed and you can recover your assets. Be that as it may, in bitcoin exchanges, following is an extremely troublesome activity that is the reason there is an extremely low shot that you can recover your cash on the off chance that you get hacked.
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sacred32700
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May 30, 2018, 02:14:17 AM |
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Because its looks like a digital bank that helps you to earn digital money without loosing anything. You can also pull out the bitcoin you earned if the demand is high it is your decision if you want to get it now or not.
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Jessica2009
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May 30, 2018, 02:59:51 AM |
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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 is a decentralized currency giving freedom for the users. Bitcoin is used to purchase goods and services and also transfer money online without a third party so the transaction is done with ease and low fees through internet. Bitcoin cannot be duplicated like fiat currency.
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