Does engaging with bitcoins put you at risk?

[coin-investor]

We, as physically and intellectually healthy individuals, strive and survive to achieve our dreams, establish our roles in the society and fulfill our needs and wants. But in order to do this, we are also required to be financially healthy. The lingering fact is that money is not achievable as a single candy you can buy in the store. Sometimes, people risk their lives and reputation just to get a handful. Bitcoins are not officially a currency that you can just see in a certain country, that are being utilized and used. So, is dealing with bitcoins and other things related to it also puts us in a risky gamble?

Yes if you don't care to take time to study what is Bitcoin how it works and what it will it do to our economy yes you are putting yourself at risk, this is not about just buying Bitcoin but more so on how to protect your coins, how to trade correctly and of course the main goal of having cryp[tocurrency integrating to our society.

[Cootie]

We, as physically and intellectually healthy individuals, strive and survive to achieve our dreams, establish our roles in the society and fulfill our needs and wants. But in order to do this, we are also required to be financially healthy. The lingering fact is that money is not achievable as a single candy you can buy in the store. Sometimes, people risk their lives and reputation just to get a handful. Bitcoins are not officially a currency that you can just see in a certain country, that are being utilized and used. So, is dealing with bitcoins and other things related to it also puts us in a risky gamble?

In my opinion, It depends on how you be able to acquire one. There many ways to earn cryptocurrency especially bitcoin. You can buy it through an official currency or you can earn it through accomplishing task or offering service in exchange of crypto. The first one, is the risky method. You are risking an amount of capital in exchange of bitcoin. There's the risk because, as we all know, bitcoin is not staying at a low range price change. It is rather reaching a large gap price change in a period of time. Due to that, you have a chance of losing your capital. However the latter, there is still risk but very minimal. Here you can just accept your payment through crypto and use it according to your needs. If you want to trade that's fine. You still earned at whatever price the bitcoin maybe.

[omone1]

Because some of certain nation don't understand the technology behind bitcoin, they tend to call it a scam and will sometimes wrongly conclude it as a Ponzi scheme, but most times since they can't just generally control or monitor it, they advise their citizens to deal with caution and at their risk.

[sulendra12]

I mean put yourself on the internet already put you at big risk, if you know what I am saying :^)
Everything in internet has risk especially Bitcoin when it comes to investment.

Well for me, not really. Putting someone into risk is also someone's chose. It is also someone's decision whether he or she will put himself/herself into risky situation. All fall on how people will handle thing with the presence of Bitcoins.

Ya, but if you are ready to invest in Bitcoin and then you already agree to face the risk.

[travwill]

Bitcoin is not created by any government or organization so it cannot be an official thing,its like open source for everyone and its has been used as currency on many places.If you talk about the unstable value then you are at risk but when you are holding it,you never going to see failure in the value.So you are at better place when you invest this money into other form of investment.

By investing in Bitcoin you put yourself at a certain risk, but this risk is no higher than investing money in a bank with interest. Bitcoin was and will remain under your control, but the money in the bank is not.

[waynechong1995]

Risks is definitely necessary to break status quo, if you aren't rich people and maintain the same attitude on getting what others have you, it's gonna be depressing for the whole life. Bitcoin might no necessarily make you rich on short, but definitely a piece of tech you should learn and embrace the whole ecosystem as we do move forward

[geegaw]

Bitcoin is not created by any government or organization so it cannot be an official thing,its like open source for everyone and its has been used as currency on many places.If you talk about the unstable value then you are at risk but when you are holding it,you never going to see failure in the value.So you are at better place when you invest this money into other form of investment.

By investing in Bitcoin you put yourself at a certain risk, but this risk is no higher than investing money in a bank with interest. Bitcoin was and will remain under your control, but the money in the bank is not.

I think everything is the opposite of what you say, investing in bitcoin is more risky than investing in a bank because bitcoin is never under our control when bitcoin always has a very wide range of changes, the risk is not as fixed as we think and often face unexpected situations, so we always put ourselves at risk every day as long as we hold bitcoin. But even knowing these problems, people still prefer to invest in bitcoin because with uncontrollable changes, it can always generate huge profits, banks can't do that, so taking higher risks when participating is what everyone agrees

[wxa7115]

I believe engaging with bitcoin wouldn't put you at risk, as you can do it relatively anonymously and nobody would know about it. Many people have been doing it without letting others know, so you can too.

While bitcoin is a great technology that you can use without disclosing your identity at the same time since you are completely responsible for your coins and if you lose them it is your fault, then we can safely assume that some of the risks that in the past were the concern of banks are now your responsibility, that is why people say that bitcoin allows you to be your own bank, and if that is the case your risk as a person has increased.

Just to give you an example, if a thief enters your home and steals your computer and you do not have paper backups of your wallets then you will lose all your money something that was not possible before when the bank had the responsibility of taking care of your money.

[davis196]

We, as physically and intellectually healthy individuals, strive and survive to achieve our dreams, establish our roles in the society and fulfill our needs and wants. But in order to do this, we are also required to be financially healthy. The lingering fact is that money is not achievable as a single candy you can buy in the store. Sometimes, people risk their lives and reputation just to get a handful. Bitcoins are not officially a currency that you can just see in a certain country, that are being utilized and used. So, is dealing with bitcoins and other things related to it also puts us in a risky gamble?

Who is risking his life just to get a handful of money? ;DThis is a ridiculous statement,if you ask me.
I've never been hurt for using bitcoins so far.I don't know what will happen in the future.There's always a risk involved,even when you use fiat money.

[desticy]

It seems to me that the risk of a missed opportunity from abandoning any interaction with bitcoin is a far greater omission than the temporarily falling price and the lost profit.

[klaaas]

It seems to me that the risk of a missed opportunity from abandoning any interaction with bitcoin is a far greater omission than the temporarily falling price and the lost profit.

Its only a loss if you sell it ; )   Indeed, interacting and using is the real value here.

[Hemady17]

It's just simply a phrase that no risk, no gain. Not just talking to bitcoin but also in life. You know, millionaires doesn't wait for their success they work for it. By working of it, they should put a risk. Well, I'm not concluding that Bitcoin can make you successful, but if you are destined to this then its good. Engaging in bitcoin is probably risky, I should advise that if you're new with this try to educate your self, study how it works and also the risk. Being risky doesn't mean you have a strong personality to engage in everything, sometimes you should embed it by being wise.

[Mike Mayor]

Living life is a gamble within itself. Not sure what you trying to prove or say.

Also risking your life and reputation is maybe the way some want to live. It is a rush. People chase rushes. Hell I chase rushes. The feeling you get when you moments away from deat hare ixxilirating.
Just like with crypto, the risk factor attracts me. Risk it all or risk nothing. Go all in. Or like master Yoda says. "Do or do not. no try"

[radjie]

Bitcoin is not created by any government or organization so it cannot be an official thing,its like open source for everyone and its has been used as currency on many places.If you talk about the unstable value then you are at risk but when you are holding it,you never going to see failure in the value.So you are at better place when you invest this money into other form of investment.

By investing in Bitcoin you put yourself at a certain risk, but this risk is no higher than investing money in a bank with interest. Bitcoin was and will remain under your control, but the money in the bank is not.

I think everything is the opposite of what you say, investing in bitcoin is more risky than investing in a bank because bitcoin is never under our control when bitcoin always has a very wide range of changes, the risk is not as fixed as we think and often face unexpected situations, so we always put ourselves at risk every day as long as we hold bitcoin. But even knowing these problems, people still prefer to invest in bitcoin because with uncontrollable changes, it can always generate huge profits, banks can't do that, so taking higher risks when participating is what everyone agrees

yes, Bitcoin has yet to get full responsibility by most governments so investing in bitcoin clearly has a very high risk compared to investing money in banks that already have government attention and responsibility. people who dare to invest their money in bitcoin of course they have to be able to bear all the risks that will be faced, but even so, bitcoin has become a public spotlight for people who use it, because most people believe investing in bitcoin can provide greater benefits in the future compared to the interest earned from the bank. however, investment in bitcoin clearly has a very high risk

[miningguru]

Bitcoin is not created by any government or organization so it cannot be an official thing,its like open source for everyone and its has been used as currency on many places.If you talk about the unstable value then you are at risk but when you are holding it,you never going to see failure in the value. So you are at a better place when you invest this money into another form of investment.

By investing in Bitcoin you put yourself at a certain risk, but this risk is no higher than investing money in a bank with interest. Bitcoin was and will remain under your control, but the money in the bank is not.

Yes, you are right we should be very careful with the banks they will charge for every transaction we do, of course, the bitcoin network is also charging but the transaction will be done through no third party. In banks, only upper-level people are getting more loans and lower level people do not get loans through banks they need to submit a lot of documents for getting loans.

[Shinpako09]

I don't think so if you meant by risking your reputation. As long as you didn't used btc in any illegal transaction or operation then you don't have to worry, you can used btc freely. If you are mentioning about the risk that btc has, then that's the one you should learn on how to handle in order to become successful.

[playboy654]

I don't see any risk for me while using bitcoins and I feel my transactions are completely safe compared to banking method transactions.

If your country doesn't allow holding of cryptos but still your are holding it will put you in risk but nothing other risk for using bitcoin as I can feel.

[Janation]

I don't see any risk for me while using bitcoins and I feel my transactions are completely safe compared to banking method transactions.

If your country doesn't allow holding of cryptos but still your are holding it will put you in risk but nothing other risk for using bitcoin as I can feel.

Bitcoin being Bitcoin is a risk of itself.

We all know how volatile Bitcoin is and that is usually the reason investors do not want to use it or do anything related to it. It is true that there are a lot of people that want to invest in it but also, there are people that do not want to invest in it because it is a risk.

[satriagedhe]

there always risk for gaining something , i think that usual thing should we know before we really join this crypto world

[playboy654]

I don't see any risk for me while using bitcoins and I feel my transactions are completely safe compared to banking method transactions.

If your country doesn't allow holding of cryptos but still your are holding it will put you in risk but nothing other risk for using bitcoin as I can feel.

Bitcoin being Bitcoin is a risk of itself.

We all know how volatile Bitcoin is and that is usually the reason investors do not want to use it or do anything related to it. It is true that there are a lot of people that want to invest in it but also, there are people that do not want to invest in it because it is a risk.

OP asking about any legal issues facing while using bitcoin so I didn't make any comment related to the prices.