The risks of using Bitcoin

[oHnK]

I agree with you about the money laundering risk. Bitcoin is superior to fiat because of its anonymity, decentralization. But because of that, criminals and terrorists will take advantage of the anonymity to be able to launder money and trade illegally across continents that are difficult to control by governments. Bitcoin is really dangerous when used by criminals.

When a crime uses media or tools to support its actions, is the media to blame?  The analogy is when a thief uses a crowbar to help his action, what should be destroyed is the crowbar?  The risk of money laundering or terrorists must be resolved by the government, not blaming crypto.  Before there was crypto, there were too many terrorists and corruptors.

[Rigon]

If you do not take risks in life, you will never succeed.So the bigger the risk you take, the more successful you will be at some point. Investing in Bitcoin here makes you feel a lot of risk. Yes there are a lot of big risks but if you do your luck favors you are short term In between you can become rich. So I would say that where there are more rickshaws, the chances of success are much higher.

[Gbniman]

To my own view of understanding is that the price of Bitcoin and all cryptocurrency, for that matter is incredibly volatile because it is such a young currency and market. It is not uncommon for the price of Bitcoin to experience wild swings within a day or even within minutes. This makes trading a dangerous venture.
Bitcoin is so risky is that it is a tradeable asset but it is not backed by anything. Bitcoin has value only because the people who are trading it say it has value. There are no governments or regulatory bodies helping Bitcoin retain its value, it has no unique value at all.” This makes it an incredibly risky investment if the market ever decides it’s no longer valuable.

[roosbit]

• The risk of Policy
  
• The risk of the law
  

• The risk of Substitution

This is a systematic risk, and it is difficult for individuals to avoid it.

• The risk of Speculation
  
• The risk of  Money laundering
  

I honestly see all these to work in my favour and not really to be a risk against me. FYI using any cryptocurrency is one way or another going to expose you to any of these so called risks especially  the risk to speculation, I say so because cryptos are highly speculative and it's one of the ways to get a market reaction.
Talk of money laundering, fiat or cryptocurrency these risks will always be there and this is all up to character of the person and not because of being a crypto user.

[DoublerHunter]

If you do not take risks in life, you will never succeed.So the bigger the risk you take, the more successful you will be at some point. Investing in Bitcoin here makes you feel a lot of risk. Yes there are a lot of big risks but if you do your luck favors you are short term In between you can become rich. So I would say that where there are more rickshaws, the chances of success are much higher.

^ It does not mean you are a high risk-taker you are also can be able to make a high profit. That is not how BTC investment work, you need first how to understand the market situation, the market price flow, and the behavior of BTC price. There is a big risk, yes, and that is why OP gives some point of managing risk that possible we can handle and so if we are already there, let them be. I can consider BTC investment is very crucial the most investors, it could be the reason that their money was lost.

[carlfebz2]

I think, you should not focus on the negative side of crypto. Investing in bitcoin and other digital currency always have pros and cons that you should understand and accept before start using or investing on it.  Owning or holding bitcoin and other valuable digital currency is your way to make huge profit for a short and long term period. The volatility of bitcoin, even other currency always gives you profit if you really know how to ride on the market movement. Investing in bitcoin is risky, that's true but it was profitable. You should take all the risk if you want to earn profit.

You should be aware on everything because if we do dive in into investment then it would be just normal on having that studying on everything from pro's to con's so that you would really be aware and would make

out  some plans whenever you do possibly experiencing some problems or on how to handle up your profits as well.Even if we do invest with Bitcoin then it doesnt mean that its risk free.We know that this is the main

coin that been supported by the community which no doubt that it is sitting on the top ranks.Some would just opt in on holding instead on actively trading and some do consider on buying altcoins as an other
way of income.

[AmoreJaz]

If you do not take risks in life, you will never succeed.So the bigger the risk you take, the more successful you will be at some point. Investing in Bitcoin here makes you feel a lot of risk. Yes there are a lot of big risks but if you do your luck favors you are short term In between you can become rich. So I would say that where there are more rickshaws, the chances of success are much higher.

^ It does not mean you are a high risk-taker you are also can be able to make a high profit. That is not how BTC investment work, you need first how to understand the market situation, the market price flow, and the behavior of BTC price. There is a big risk, yes, and that is why OP gives some point of managing risk that possible we can handle and so if we are already there, let them be. I can consider BTC investment is very crucial the most investors, it could be the reason that their money was lost.

despite the risks being laid out by the OP, we all know that a lot of us are still banking on bitcoin. but would be nice if every crypto user knows such risks, at least he can strategise how to lessen or prevent them from happening to his funds. and instead use those as opportunity to grow his holdings. not all people can manage those risks as some will panic when something goes wrong in the market. sometimes it takes experience how to tackle those risks.

[Hippocrypto]

If you do not take risks in life, you will never succeed.So the bigger the risk you take, the more successful you will be at some point. Investing in Bitcoin here makes you feel a lot of risk. Yes there are a lot of big risks but if you do your luck favors you are short term In between you can become rich. So I would say that where there are more rickshaws, the chances of success are much higher.

We all face risk even though at tough times having jobs, there's a lot of circumstances to face at specially when your boss pressures you a lot in work. Same with bitcoin, it's not really a physical investment which you see in real world because we're bounded to virtuality of a certain assets. The risk on bitcoin was only the volatility and unstable price, but the potential was very high in obtaining the highest profit that you may acquire.

[SimpleMan]

If you do not take risks in life, you will never succeed.So the bigger the risk you take, the more successful you will be at some point. Investing in Bitcoin here makes you feel a lot of risk. Yes there are a lot of big risks but if you do your luck favors you are short term In between you can become rich. So I would say that where there are more rickshaws, the chances of success are much higher.

^ It does not mean you are a high risk-taker you are also can be able to make a high profit. That is not how BTC investment work, you need first how to understand the market situation, the market price flow, and the behavior of BTC price. There is a big risk, yes, and that is why OP gives some point of managing risk that possible we can handle and so if we are already there, let them be. I can consider BTC investment is very crucial the most investors, it could be the reason that their money was lost.

despite the risks being laid out by the OP, we all know that a lot of us are still banking on bitcoin. but would be nice if every crypto user knows such risks, at least he can strategise how to lessen or prevent them from happening to his funds. and instead use those as opportunity to grow his holdings. not all people can manage those risks as some will panic when something goes wrong in the market. sometimes it takes experience how to tackle those risks.

There will always be a an incalculable residual risk when you invest in intangible assets like Bitcoin. The same way Bitcoin appeared out of nothing and conquered the markets' interest by storm, the same way it could disappear due to another innovation coming from nowhere. It is quite a matured technology by now in the sense that people do trust it, that they do believe this will be around for a while, but you should know that in the digital space surprises can wait behind every corner in a much faster way than for example in the real estate market where you can actually see and analyze market sentiments and movements.

[Shasha80]

~

^ It does not mean you are a high risk-taker you are also can be able to make a high profit. That is not how BTC investment work, you need first how to understand the market situation, the market price flow, and the behavior of BTC price. There is a big risk, yes, and that is why OP gives some point of managing risk that possible we can handle and so if we are already there, let them be. I can consider BTC investment is very crucial the most investors, it could be the reason that their money was lost.

despite the risks being laid out by the OP, we all know that a lot of us are still banking on bitcoin. but would be nice if every crypto user knows such risks, at least he can strategise how to lessen or prevent them from happening to his funds. and instead use those as opportunity to grow his holdings. not all people can manage those risks as some will panic when something goes wrong in the market. sometimes it takes experience how to tackle those risks.

There will always be a an incalculable residual risk when you invest in intangible assets like Bitcoin. The same way Bitcoin appeared out of nothing and conquered the markets' interest by storm, the same way it could disappear due to another innovation coming from nowhere. It is quite a matured technology by now in the sense that people do trust it, that they do believe this will be around for a while, but you should know that in the digital space surprises can wait behind every corner in a much faster way than for example in the real estate market where you can actually see and analyze market sentiments and movements.

All investments have risks, including investing in Bitcoin. But the risk of investing in Bitcoin may be much higher than investing in other assets
such as gold or real estate. We don't know when Bitcoin will be in the internet world, moreover Bitcoin is a technology that can be replaced with
other more sophisticated technologies. Bitcoin can just disappear, if there is no longer demand, then that makes Bitcoin more risky for its volatile price.
This makes the money we use to invest in Bitcoin can be lost quickly, if the wrong decision is made. Therefore we must have knowledge before
deciding to invest in Bitcoin, at least can understand the basic rules of how to invest in Bitcoin safely.

[tanjiran]

I think, you should not focus on the negative side of crypto. Investing in bitcoin and other digital currency always have pros and cons that you should understand and accept before start using or investing on it.  Owning or holding bitcoin and other valuable digital currency is your way to make huge profit for a short and long term period. The volatility of bitcoin, even other currency always gives you profit if you really know how to ride on the market movement. Investing in bitcoin is risky, that's true but it was profitable. You should take all the risk if you want to earn profit.

all things in the world have good and bad sides, so we must have a broad perspective to be wiser in determining attitudes. anything can be used as a tool of crime, but when it comes to crypto or bitcoin, the problem will definitely get bigger and wider, because basically bitcoin is full of pros and cons.

basic knowledge related to the world of crypto and investment is needed to be able to profit here. The first and most important thing is that we must understand the risks of high crypto market fluctuations, so we don't arbitrarily spend capital to buy certain coins.

[OgNasty]

The main risk of using Bitcoin is that you could turn into a toxic maximalist asshole that nobody who isn't into crypto wants to be around.

[TelolettOm]

I also experienced this risk when crypto is not legal as a currency in my country. So, when I am found using crypto as a manner of currency to pay something, It means that I don't obey the rules and I will get punished.
But, every risk may also offer other joys and profits. Sometimes, we may get the risks in using Bitcoin.
But as long as we can see where it is, and what is Bitcoin is using based on the rules that are allowing it, it may not be a matter.

[S A KHAIR]

Bitcoin is not a risky investment, those who are against Bitcoin are making us think that Bitcoin is at risk for its instability and security. But in terms of security, Bitcoin is irresistible and volatility makes it suitable for investment. Already the price of Bitcoin has surpassed the price of gold, now everyone is just waiting for massive adoption, its full worth can be realized when the majority of people will accept it.

[michellee]

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.

Bitcoin is just like any other investment, the opportunity for profit and loss is the same, this makes us have to be good at choosing the right time to buy and sell, but based on my experience when buying bitcoin, patience is the most important key because the bitcoin price trend is always rise.

The difference is bitcoin prices have big volatility compare to the other investment type. Every day, you can see that the bitcoin price will always change and will not stay at one level price. If you have control and do not panic to see the price move, you will not sell at a low price. Otherwise, you will sell your bitcoin at a low price and regret why you sell too early.

But yes, patience will be the key to controlling emotion and not panic because of the price. Besides that, when you invest in bitcoin, you can decide when you want to sell but do not sell if the price does not increase higher because that can make your profit not bigger.

[Ryder Kudrow]

The price of Bitcoin fluctuates greatly, and investors have greater trading risks. Many Bitcoin traders obtain spread income by selling high and buying low Bitcoin on the trading platform. At this time, traders need to bear the arbitrage risk of Bitcoin's skyrocketing and plummeting. If Bitcoin is used as a trading medium, the huge fluctuations in the value of this currency will bring huge risks to users.
Bitcoin's anonymity makes its transaction records difficult to track, and it also provides channels for illegal and criminal activities such as money laundering, drug trafficking, smuggling, and illegal fund-raising.
Whether the blockchain technology that Bitcoin relies on can withstand the test of security, and whether the anti-risk ability of the Bitcoin trading platform can match the rapid increase in transaction volume. Bitcoin trading platforms in some countries have experienced incidents such as security vulnerabilities being exploited by hackers and causing the loss of Bitcoin hosted on the platform, which would have caused significant losses to Bitcoin investors.

[Sollaes]

It seems to me that you think about Bitcoin as a dummy. Have you ever heard that Chinese government started replacing gold by Bitcoin in offshore yuan security. I mean that nowadays Bitcoin, corn, cotton, copper are collateral of offshore yuan.
Anyway I am ready to take risks to get profit, as I consider Bitcoin to show us big increases and potential in the future.

[Mpamaegbu]

There are five risks in the use of Bitcoin:

• The risk of the law
  

For me, that's the only real risk. The rest enumerated can be associated with fiat too. So, no biggie. However, Bitcoin is even receiving nice reviews now than it did half a decade or so ago. It's a given that a few years down the line from where we currently are the reviews will be far better than what we have now. The law risk is because a lot of nations haven't seen the need to support Bitcoin through legislative means and certify it a legal tender yet. These nations may not be able to hold this position longer than necessary when they find out they're getting left behind with this paradigm shift if they don't key in. It's just a matter of time, and Bitcoin (by extension cryptocurrencies) will become the ultimate winner.

[Kimberl2020]

It seems to me that you think about Bitcoin as a dummy. Have you ever heard that Chinese government started replacing gold by Bitcoin in offshore yuan security. I mean that nowadays Bitcoin, corn, cotton, copper are collateral of offshore yuan.
Anyway I am ready to take risks to get profit, as I consider Bitcoin to show us big increases and potential in the future.

To be honest, I haven't heard of that thing you said. I only know that the Chinese government has denied the currency properties of Bitcoin and is not allowed to circulate and use as a currency in the market, but it has not denied that it is held by people as a valuable asset.

Although I said the risks of using Bitcoin, I still hold Bitcoin firmly. same as you.

[isaac_clarke22]

The money laundering somehow gets controlled by the government by doing KYC verification. I had seen that quite a lot when using any custodial wallet involving crypto. That is what they fear of.
Though at some point, I wouldn't let anyone get hold of my money anyway. I wouldn't send it to anyone that is surely not part of what I am aware of interacting at everyday.