The risks of using Bitcoin

[Rruchi man]

There are five risks in the use of Bitcoin:

I think there are more than five risks involved with using bitcoin, there is also the "risk of the unknown" - imagine the possibility of a disaster that took down technology, electrical grids and the internet world wide, there’d be no way to access your bitcoin?

Also, there is the risk of investment-
Investing in bitcoin is the greatest risk of all because unlike the futures markets traded on the exchanges, disputes can be easily resolved because they are regulated. However, the reverse is the case when you enter the world of cryptocurrencies. It is both unregulated and decentralized. Anything can happen both gain and loss.

In all, one has to make up his or her mind to accept the risk involved, because without risks there are no rewards.

[haasanjui]

There are many benifits of using Bitcoin but there are some disadvantages. If you trade Bitcoin and its price will dump it can give you a loss. And if your account is scamed then what will you do. But don't worry if you forgot your password you can easily recover your account if you shared your private keys to anyone then its hard to recover.

[Easteregg69]

I don't get it. Money laundering? Your kids is selling drugs? You stay straight and you avoid all the tossery.

quote: "And before anyone managed to turn it of it had invented income tax". Hitchhiker's guide to the galaxy. STFU..

[Alert31]

BTC is currently a huge place for criminals to take advantage of money laundering, and most central banks are still hesitant about accepting BTC as a payment currency because BTC is unstable and has a high risk thoughts of those who don't acknowledge the technology background of BTC. Most of the time now BTC is more accepted and popular but we all have to admit that BTC is not a coin that stabilizes a price over time like traditional stablecoins.

Bitcoin is just an alternative and not created to replace fiat money. It was decentralized digital currency that government don't like because they don't have an authority over it. Government can regulate but can't stop bitcoin because people will always find a way to use it despite of a lot of risk it can give. Bitcoin is risky but profitable and useful.

[sherenikaw]

With some of the risks involved, it doesn't mean bitcoin is the most dangerous investment. Of course, all investments have their own risks, not only bitcoin. With the existing risks, we use them as lessons and make us have to be more vigilant and careful so that our assets remain safe. Of course, behind the existing risks there are also advantages of investing in bitcoin that are not obtained in other investments and are certainly profitable. So we are really smart in investing and managing our own assets.

[kawetsriyanto]

If you trade Bitcoin and its price will dump it can give you a loss.

This is not only happening in Bitcoin. All kinds of investments have the risk of losing money. Even you invest in Gold, you also can lose money if you don't use a proper way (strategy). Pump-dump won't be always bad for you if you know how to take advantage of this. Make sure you will buy Bitcoin when it is dumped and sell on a pump then.

[AakZaki]

There are many benifits of using Bitcoin but there are some disadvantages. If you trade Bitcoin and its price will dump it can give you a loss. And if your account is scamed then what will you do. But don't worry if you forgot your password you can easily recover your account if you shared your private keys to anyone then its hard to recover.

Maybe what you mean is fluctuations in the price of bitcoin that can provide losses or gains. If the price goes down you don't sell it, you just have to wait for it to go up. All trading requires strategy and strategy requires basic trading knowledge. do not trade without the provision of knowledge about trading, it is the same as you plunge into a steep abyss.

For wallet security it is the duty of an individual or the responsibility of the owner. Keep your wallet private key and secure every device connected to the main wallet. must be alert.

[Rb48]

Where there is no risk in life you will learn something and if you win you will lead. So there are many risks in our entire path from birth to death.So I would say you can never win without risking your life.

[kawetsriyanto]

So I would say you can never win without risking your life.

What is the correlation to Bitcoin, mate?
Do you mean to succeed in your life, you need to invest in Bitcoin? 
Bitcoin is surely a high-risk investment but it also has a bigger advantage than other investments. Bitcoin offers possible higher profits, and investing in Bitcoin is easier than common investments.

[jaberwock]

The risk of Substitution

The risk of substitution is the least thing I am even going to think of for now, because I know for sure that other coins that we have in the market right now has a lesser chance of replacing Bitcoin for now as I am seeing it. Though I do think that after the last halving things are going to be a bit different, but let’s keep waiting till then.

And moreover I don’t think that it is going to be bad, Bitcoin will continue to stand strong as long as the developers are doing the things that they are supposed to do to keep the network going seamlessly. So, I will say that the developers also has a part to play in making sure that Bitcoin continues to stay.

[alviemery96]

BTC is currently a huge place for criminals to take advantage of money laundering, and most central banks are still hesitant about accepting BTC as a payment currency because BTC is unstable and has a high risk thoughts of those who don't acknowledge the technology background of BTC. Most of the time now BTC is more accepted and popular but we all have to admit that BTC is not a coin that stabilizes a price over time like traditional stablecoins.

[peter0425]

you forgot to  out is the greediness and noob of some users , this is the risk if you know nothing about what you are doing and just engaging according to what have told you and not because of your own studying.
we as users usually put ourselves at risk and that is not what about those you mentioned.
our faith depends on our knowledge and not because of the real time scenario .

[Dhoe]

what are the risks of bitcoin?? so if we send Bitcoin to the wrong person, or our Bitcoin wallet is hacked and someone steals our Bitcoin, it is very difficult and even impossible to get it back. Bitcoin is also not protected by any entity, so if we lose Bitcoin, the service provider or 'Bitcoin network' cannot compensate us. That's why we have to use trusted products and service providers to help us, which I know is often the case. on bitcoin, it's not someone else's fault, but our own fault..

[Wong Gendheng]

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.

There are many accusations that bitcoin is used for money laundering, of course there is no valid data that can confirm it, I have never heard of any cases and confiscations of corruption stored in the wallet so everything is still under suspicion.

[GeorgeJohn]

• The risk of Speculation
  Bitcoin does not have national credit or physical assets as protection, and the price may fluctuate sharply, which is extremely risky for investors. However, in my opinion, speculation is a high risk but also an opportunity, and it depends on the individual.
  

Actually it's obvious that no investment that doesn't involve into risk, so any cryptocurrency more especially bitcoin investor don't really consider it's speculation as a challenge, because an investor knew that for investment two things are involved which are advantage and disadvantages, weather the market go against the wishes of the investor or it comes to the profit of bitcoin, so in all aspects investment they most be risk, entrepreneurship let us to understand that risk taker's are pron to accelerate for life, so we don't have to be afraid of risk when it come's to bitcoin industry or investment.

[taufik123]

Actually it's obvious that no investment that doesn't involve into risk, so any cryptocurrency more especially bitcoin investor don't really consider it's speculation as a challenge, because an investor knew that for investment two things are involved which are advantage and disadvantages, weather the market go against the wishes of the investor or it comes to the profit of bitcoin, so in all aspects investment they most be risk, entrepreneurship let us to understand that risk taker's are pron to accelerate for life, so we don't have to be afraid of risk when it come's to bitcoin industry or investment.

Those who are afraid of the risk of speculation are novice investors who are just getting into bitcoin. we know bitcoin price fluctuations are very high, there can be sharp declines and increases and only a few minutes. those who are real investors and have mastered the market will not panic with the risks that will occur. they have a good strategy.

whatever the risks involved in using bitcoin, it is a challenge that will train in all aspects. Bitcoin is able to provide more profits and can provide painful losses.

[Gbniman]

One of the biggest risks for bitcoin right now is regulation. In recent weeks, China has clamped down on its cryptocurrency industry, shuttering energy-intensive crypto mining operations and ordering major banks and payment firms like Alipay not to do business with crypto companies.
Also the government are ban in some countries because of alot things going in there country due to Bitcoin and why some are using the influence of it to laundering money, especially in my country.
Bitcoin is a high risk investment but profitable when the market goes your direction.

[ballexplorer]

The high volatility is a major risk. People who accept BTC as a means of payment are often in the red when prices are falling. Government regulations represent another risk.

[CLS63]

I think that the biggest risk of using Bitcoin is its volatility. Volatility is everything of this market and Bitcoin. It is the main structure of all of the cryptocurrencies. When you decide to invest into Bitcoin, you accept that you are taking the risk of losing your money also. You are aiming to benefit from this volatility in the end. That's why you are investing into Bitcoin. Some people don't care about it. And when they start losing money at a fast pace, they get scared and start panic-selling. This destroys the market also.

So, one should be aware of the risk before starting to trade Bitcoin. There is no guarantee for you. There will always be ups and downs in the price. You should draw a roadmap for yourself and act according to it if you are having a problem on managing your investment.

[Ryker1]

The high volatility is a major risk. People who accept BTC as a means of payment are often in the red when prices are falling. Government regulations represent another risk.

Well, there are too many factors of risk in bitcoin but I don't see the volatility as the major risk, because most likely holders will not be losing their capital amount since no one will be selling bitcoin at the lowest price. The risk of bitcoin that I afraid of are those big holders or big players in the market, once all of them were have the same idea to sell their bitcoin, that could be a huge dump possible. However --for now, let us not think that matters, enjoy your life because that is too short.