The risks of using Bitcoin

[Assface16678]

The risk of speculation is a good opportunity for those who are researching well and studying the growth of btc. However, the risk of losing is high because no one knows what will happen today and to the future of btc but some of it uses this to profit big time.

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[izsara]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

it is normal because it returns to the initial nature of bitcoin which is indeed volatile so it is very normal when the price of bitcoin is unpredictable for the future. and what is now being done mainly by day traders is only speculative by looking at and doing separate research to get it and there are only two possibilities, namely if it is not true, it means wrong.
Besides that, it is precisely with this volatile eel that several people, including one myself, am interested in being here.
and talking about that risk is a natural thing and actually it is a choice that needs to be taken from every activity that is carried out, not just in crypto or bitcoin.

[Mr.sprin]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

I don't think it's a risky price, but you have to be good at holding bitcoin, which means don't panic when the bitcoin price drops, if you panic you will lose if the bitcoin price problem is basically unstable and no one can predict the bitcoin price.

[bitgov]

The risk of Policy

The risk of the law

Governments of the world don't like bitcoin at all. Since this is something that is challenging the decade old centralized financial system that is abusing consumers. Risk associated with government policies are valid and have heavy impact on btc price. See China decision about crypto currency and its impact on btc price.

• The risk of  Money laundering
  
  

I think its quite unfair to associate bad things like money laundering, ransomware etc with Bitcoin. As such things are happening with centralized fiat currencies before bitcoin was introduced. Even today major portion of money laundering goes with Fiat currency.

[Abiky]

I agree with the OP about the risks of using Bitcoin. I added the risk of using Bitcoin is independence from the banking system. Each individual will have to manage their own cryptocurrency. If they lose your password, your wallet recovery string or your device gets hacked, you will lose your Bitcoins forever without any agency guaranteeing you. It's different from the bank.
Using Bitcoin is solely responsible for security.

I think you mean there's the "risk of loss" when using Bitcoin. Unlike banks, people are responsible of protecting their funds against hacks or theft. That's one of the biggest disadvantages of a decentralized system. If you're willing to take the risk, then Bitcoin is for you. Otherwise, I'd suggest you to look elsewhere. Life is all about risks, so there's that.

For what I know, Bitcoin is not a perfect system. It has its flaws just like it's the case with Fiat today. I believe that the biggest risk of using Bitcoin is not the risk of loss, but rather the risk of volatility. Constant fluctuations in price makes Bitcoin a terrible currency for daily payments. You'll never know when your investment is going to go down the drain due to Bitcoin's unpredictable nature. It's more suitable as a long-term store of value than anything else. As long as Bitcoin remains decentralized, there should be nothing to worry about. Just my opinion

[Alisha FR]

The risks you describe are too sharp, for beginners to make them hesitant not to use Bitcoin. For me a big risk for those who just speculate No knowledge of the market. Talking about risk Without laws governing Bitcoin this is not a problem because Bitcoin is not part of the government, meaning Bitcoin runs by itself. and it is highly unlikely that Bitcoin will disappear in the future.

[juliepower]

They are risk of error and hacking as a digital currency and, cryptocurrencies are technical glitches, human error or hacking. They can be affected by discontinuation. Risk of scam because there are fraud people who misuses these .

[Oilacris]

I'm aware of the risk of money laundering but it doesn't concern me as I don't do such things. The risk of speculation is the one that is seen as one step ahead among the all reasons. Because we all know that cryptocurrencies are speculative assets. They can be affected by bad news and we can see the reflection on the price also. This must be one of the important points that people should watch out for.

well what you said is true, like the news of this ban making the value of bitcoin continue to fall for who knows how long, chaos, panic selling has smelled if it touches 40K $ even below that value,

Whenever we do have these kind of news specially bans then we cant really deny that it could really make some significant effects on the market which it is normal to have these kind of events.

As an investor then you should know on when to get in and when to get out.Asking about risk then this would be talking about losing bitcoin technically or due to scams or human error.

Risk in regulation too on where if its banned in your country then its just normal that you should avoid on letting them see that you do engaged with crypto.

[Rajamuda]

We do have to know some of the risks that often occur, but it shouldn't be if it's like scaring ourselves into not being confident or being too pessimistic.
All of that must be responded to with experience and deeper insight, because in fact it is our race to take steps that are safer and better than all the possibilities that can occur related to certain risks.

[osasshem]

The risk of crypto ban is a risk that can affect any user within the area where the ban is affected. This is being done by the government for some reasons which they this is best for them. The ban of bitcoin does not stop money laundering in any country, rather it stops the technological development of that country.

Another one is Regulation. If Bitcoin becomes regulated by the governmental bodies, the unique feature of Bitcoin wears away and the fun is ruined.

Ever having the thinking of investing into crypto currency is a risk, and making that investment means the risk has been completely accepted. As an investor, risk taking is what they do best.

[FulxilCoris]

I think the biggest risk for bitcoin and other cryptocurrencies for that matter is the risk of loss and price drop during that time if some people can't wait patiently they will sell and will result in them turning into a loss and that's very high risk but it's only high for newbies. However you need to be aware that when entering the crypto world. It is both unregulated and decentralized, there are many risks as follows: speculation, law, policy, money laundering, risk of substitution. Anyway, I am ready to take the risk to get the profit, because Bitcoin will show us the huge and potential profit value in the future.

[alpamar99]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

This is normal, because any form of investment or business related to money must always be faced with a risk.
and it can't be missed because the risk here is included in the process of looking for profits in bitcoin.
As for the unpredictable price, it has indeed become the nature of bitcoin, which is indeed volatile. even so, basically with this nature bitcoin can be glimpsed and interested by many people

[antminerguruguy]

There are many benifits of using Bitcoin but there are some risks of using Bitcoin. If you can invest and trade Bitcoin and market goes low it can effect Bitcoin price and you can loose your money but if you patient and wait for market pump you can earn profit and there are some account scam issues can happen but if you will not share you private key, password or seed phrase you will not loose your account.

As it's been there for more than 10 years those information are really being adopted by people who take time knowing

and learning this asset, there are many pro and con and it going to be depend from how investors and traders will treat

this up and how they'll going to manage and balance both the risk and opportunities.

It seems more of a place in all honesty where criminals go to hide and run massive scams like gambling and selling items they never deliver on a black market.  The facts dont change for me I am not a stupid person these websites looked genuine to me but never delivered the mining hardware.  Im out over 14,000 canadian after these transactions.  It is a criminal safe harbor it seems for much of out of country transactions.  How do these people keep going on living a life of low pathetic moral character trying to sell items much cheaper accept bitcoin and never send the items out and remain anonymous stealing bitcoin.  What we need is a way to trace all bitcoin to a person that received it.  Then prosecute losers that steal bitcoin.

[Tybi]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

Not just Bitcoin, it is difficult to predict the future price of any virtual currency. However, the future of Bitcoin depends on the investor presence in the market. If the government of a country renews bitcoin Only then does the market change. Moreover, there is no other risk in investing in Bitcoin.

[Rana590]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

Not just Bitcoin, it is difficult to predict the future price of any virtual currency. However, the future of Bitcoin depends on the investor presence in the market. If the government of a country renews bitcoin Only then does the market change. Moreover, there is no other risk in investing in Bitcoin.

Do you think only your above statement is responsible for increasing and decreasing of price of Bitcoin? In real life, it depends on different factors. Only government can't control the price of Bitcoin. I think you know about the decentralization concept of Bitcoin. Yes, obviously some good news refers increasing the price of it.

[taufik123]

We do have to know some of the risks that often occur, but it shouldn't be if it's like scaring ourselves into not being confident or being too pessimistic.
All of that must be responded to with experience and deeper insight, because in fact it is our race to take steps that are safer and better than all the possibilities that can occur related to certain risks.

Too pessimistic nature will hinder progress in us. Bitcoin always has risks, actually not only bitcoin, all types of investments must have risks but with different levels. Extensive insight or knowledge about bitcoin and cryptocurrencies is needed to know what to do when it comes to cryptocurrencies.
learn from the experiences of others who are starting to enter crypto so that you can avoid the same risks that can harm you.
The risk of using Bitcoin or other crypto can be minimized properly when we already know what to do.

[Vaculin]

We do have to know some of the risks that often occur, but it shouldn't be if it's like scaring ourselves into not being confident or being too pessimistic.
All of that must be responded to with experience and deeper insight, because in fact it is our race to take steps that are safer and better than all the possibilities that can occur related to certain risks.

Too pessimistic nature will hinder progress in us. Bitcoin always has risks, actually not only bitcoin, all types of investments must have risks but with different levels. Extensive insight or knowledge about bitcoin and cryptocurrencies is needed to know what to do when it comes to cryptocurrencies.
learn from the experiences of others who are starting to enter crypto so that you can avoid the same risks that can harm you.
The risk of using Bitcoin or other crypto can be minimized properly when we already know what to do.

It is our responsibility to take care of our funds, that is the truth. If we are too careless then that is not to wonder why we lost them. It is not the problem with the system but it was the problem for the one who owned it. That is how important to have knowledge about crypto, not just only knowing the basics but must have to dig deeper. If we are aware of what we have done and we did it legally that for sure there is no one will sue us, nor the government will apprehend us.

[blockman]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

Not just Bitcoin, it is difficult to predict the future price of any virtual currency. However, the future of Bitcoin depends on the investor presence in the market. If the government of a country renews bitcoin Only then does the market change. Moreover, there is no other risk in investing in Bitcoin.

There's no need for any country to renew bitcoin or what. And despite the future is unknown for bitcoin, the majority including me look at it as an exciting future because the fact is that it's here to stay. With such market capitalization and demand, if the crypto market deteriorates then for sure that bitcoin shall stand last. And you're wrong about the risk, despite being the market leader, there will always be the risk in investing in bitcoin and that's what everyone mostly the newbies have to look before investing.

[marine4u]

The biggest risk of using Bitcoin is it's price. It's price is unpredictable anyone can't guess the future price of bitcoin it will lose or dump you can lose and earn from it but it is risky.

No if you just look at the value you will forget the real meaning of bitcoin.
The risk and also the unique feature of bitcoin is that it is "no regulation", Decentralization makes bitcoin invincible to exploitable weaknesses beyond psychology and panic from users. Only if it determines retroactively can availability be guaranteed.

[lepbagong]

We do have to know some of the risks that often occur, but it shouldn't be if it's like scaring ourselves into not being confident or being too pessimistic.
All of that must be responded to with experience and deeper insight, because in fact it is our race to take steps that are safer and better than all the possibilities that can occur related to certain risks.

must understand first that all work can be ascertained there is a risk side, as well as bitcoin trading can be ascertained that there will be a risk. how can we do so that the risk if it will happen is the least of everything we will do. for that everything must be addressed in a way not to panic and be patient and analyze well what we are going to do.

Finally, we have to admit that mental readiness and experience in attitude will determine everything we will do and it can't be avoided, keep learning and seek experience so as not to get caught in doubt when we are going to act.

Too pessimistic nature will hinder progress in us. Bitcoin always has risks, actually not only bitcoin, all types of investments must have risks but with different levels. Extensive insight or knowledge about bitcoin and cryptocurrencies is needed to know what to do when it comes to cryptocurrencies.
learn from the experiences of others who are starting to enter crypto so that you can avoid the same risks that can harm you.
The risk of using Bitcoin or other crypto can be minimized properly when we already know what to do.

yes, pessimism and lack of confidence and excessive panic because they cannot be patient in all actions are clearly very decisive. we are dealing with a fairly high risk when trading with bitcoin because the value in bitcoin is quite fantastic, so patience is needed and not panic, everything is clearly obtained from long-standing experience when doing that.

Bitcoin can obviously be risk-free when it comes to investing, but it takes a lot of money and isn't used for a long time.
If you start now making purchases and investing directly, you can be sure it will be safe if you wait every 4 years. when bitcoin halving occurs, bitcoin will increase higher than the current price. only that way can be without risk, but if our capital needs to increase quickly only by trading, of course there are risks.