The risks of using Bitcoin

[taufik123]

it still has a risk. everything has a risk in it.

true. even you are using bitcoin to store value, you will get scared mad whenever you bought 1 bitcoin worth $53k now and seeing it falls down to $3k in just a couple weeks. crazy crypto world, first thing first you should really understand the whole cryptocurrency concept and then you aren in the right place to get that risk along with the opportunity to get plenty advantages.

Anything can happen in the crypto world. rapid loss or rapid gain. therefore it is necessary to do an analysis before making a purchase.
Understanding the whole concept of cryptocurrency cannot be done overnight, it is necessary to explore the crypto world, it is necessary to analyze what is happening. Experience is very much needed.

For those who continue to study crypto, invest and trade. studying technical and fundamental analysis, they already have the knowledge to enter the world of crypto. The risk will still exist, but the risk can be handled properly when you have the key.

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[blockman]

It all depends on who started, sir. Managing risk is the key. If I'm more inclined to a stable token price, little of the importance is accumulated.

Stable token's price? it will always be stable and they won't move that much but there were a few of them that have already been out of the market because they fell to the stable price. You can search for a few of them and they're not really important and known at all but once upon a time, they're stable coins and with a stable price. That's the risk for using them if they have a central authority and this is far from having the risk of bitcoin.

[ringgo96]

All those who depend on assets do have their own risks, especially with bitcoin whose current value is very high so it must have maximum security, but the risk in making transactions for now does have very high security and we must store the private key properly. related to our wallets so that there are no problems with our assets, for the risk of speculation and money laundering we can handle it ourselves because it is difficult for the government to reach every transaction that happens so much.

[terrorJR]

Risk is everywhere even every platform Or feild . In bitcoin risk are scammers, frauds, wrong decision that can cause your goals. Sometimes these risks are benefits to being awareness of people.

That's right, my friend, every action has a risk. Those who dare to take risks, usually that person will be successful, only those who fail are afraid to take risks.

It's just that we also have to have a basis to take the right time to take action when there is a price movement that we consider a long-awaited opportunity. Though we do not know yet, whether it is a pure price, whether there is a cukong that is moving the price.

Of course, it won't be easy to do that, especially for beginners, there are still a lot of people who don't understand and master TA and only rely a lot on news and speculation from other people.
and indeed this should be the first step and don't be bothered by placing a position whether it's a sale or purchase when we are sure then do that

[romero121]

All the points that are mentioned in the opening post is applicable with the stocks and other forms of investments. Maybe the investment apart from bitcoin will be having the legal support and the volatility issues. Just think of the bitcoin market years back and it's present position. The market is more mature enough that one can find it to be less risky investment. Earlier people had a belief the market will widen and will crash unexpected. Now it is proven that, even if it crashes there is sure recovery.

[Kodok Bencot]

There are five risks in the use of Bitcoin:

• The risk of  Money laundering
  Bitcoin has the characteristics of anonymity and freedom from geographical restrictions. The flow of funds is difficult to monitor, and it will be very easy to circumvent government supervision, making it easy for criminals to conceal the source and direction of their funds, which provides convenience for money laundering, terrorist financing and evasion of sanctions .
  
  They buy other people’s bitcoins through the exchange platform, and then bring the bitcoins to other platforms or their own wallets. Through multiple transfers, the tracking path is difficult or directly impossible to trace, and then through overseas trading platforms or black markets or directly Commodities purchased overseas are exchanged for foreign currency to complete a series of acts such as money laundering.
  

[/list]

For money laundering points then I don't agree, if people save money in bitcoin with due to money laundering then he will take a big risk, as we know that bitcoin is a volatile investment so it is too risky to save money because it can drop tens of percent in a day.

[riso2015]

I think that some of these risks are a bit overblown, some are certainly true and some I don't think are as much risks as they are issues for governments.  I think the biggest risk for bitcoin, and other cryptocurrencies for that matter , is the risk of loss.  There are far too many people "in bitcoin" that have much of or most of their life savings inside it.  This is not the proper way to "invest" , or "store" bitcoin..you need a well rounded portfolio at all times.  To me, that is it's biggest risk.

It's true that this is more dangerous for yourself. People often discuss various kinds of risks according to their analysis. But the biggest risk is loss and in my opinion this is the most dangerous because if an individual bitcoin holder or he is a trader cannot control himself when experiencing a loss this will be a mental burden for them if he does not have the readiness. Even in my country there was someone who ended his life just because he suffered a big loss while trading in bitcoin.

[Ngewex Yuk]

Of all the risk lists I read above, in my opinion the most risky is speculation, such as the fact that currently occurs that bitcoin is more widely used for trading and stored in wallets so that it becomes a speculative investment, this makes us always have to be vigilant because I am worried about something. later the price can drop up to 50% or more in a day.as

[elisabetheva]

All those who depend on assets do have their own risks, especially with bitcoin whose current value is very high so it must have maximum security, but the risk in making transactions for now does have very high security and we must store the private key properly. related to our wallets so that there are no problems with our assets, for the risk of speculation and money laundering we can handle it ourselves because it is difficult for the government to reach every transaction that happens so much.

every asset that we have can be ascertained that there will always be risk and it is impossible not to be at risk, I agree with you that the level of risk of each asset will definitely be very different. but it is certain that like bitcoin, ethereum which has a very high market capitalization is the most vulnerable. Indeed, more security is needed than usual and there are already many tools that can be used to be used as needed as well.

it is difficult to control bitcoin because it is made in such a way, no one can control it to regulate it because bitcoin works with a system that runs because trades have been carried out without anyone being able to intervene.
but the government is able to carry out regulations from the other side which can be done through standard rules that are able to reduce the abuse of bitcoin from corruption and the like.

[Wildwest]

Although there are many risks that we face in using bitcoin but it will all be easy for us to overcome if we work in accordance with the procedures that have been set, of all the risks you mentioned one of the most severe is that is against the law and this is very difficult for us to avoid, if a country has banned the use of bitcoin and all transactions that occur then we are very depressed if we have such a large asset but we cannot avoid it. Use it, and coupled with the sanctions given then this will be a big problem.

[Abiky]

Anything can happen in the crypto world. rapid loss or rapid gain. therefore it is necessary to do an analysis before making a purchase.
Understanding the whole concept of cryptocurrency cannot be done overnight, it is necessary to explore the crypto world, it is necessary to analyze what is happening. Experience is very much needed.

For those who continue to study crypto, invest and trade. studying technical and fundamental analysis, they already have the knowledge to enter the world of crypto. The risk will still exist, but the risk can be handled properly when you have the key.

The risk of loss will always be there. It's up to you to minimize risks as much as possible by diversifying your investment into more than one cryptocurrency. Crypto is highly unpredictable and unstable at times, so you'd need to analyze the market periodically in order to stay financially secure. As long as you're able to manage the risk properly, you'll have nothing to worry about. Just my thoughts

[dupee419]

Although there are many risks that we face in using bitcoin but it will all be easy for us to overcome if we work in accordance with the procedures that have been set, of all the risks you mentioned one of the most severe is that is against the law and this is very difficult for us to avoid, if a country has banned the use of bitcoin and all transactions that occur then we are very depressed if we have such a large asset but we cannot avoid it. Use it, and coupled with the sanctions given then this will be a big problem.

Just like the Government of China banning the whole cryptocurrency on their country, going against the law means you could face possible charges if caught, aside from the law, we face other risks that were mentioned by the OP and I think that with the amount of time we've spent doing crypto and Bitcoin we were used to facing these risks, it is risky but we do it because it's beneficial for us.

[antminerguruguy]

Although there are many risks that we face in using bitcoin but it will all be easy for us to overcome if we work in accordance with the procedures that have been set, of all the risks you mentioned one of the most severe is that is against the law and this is very difficult for us to avoid, if a country has banned the use of bitcoin and all transactions that occur then we are very depressed if we have such a large asset but we cannot avoid it. Use it, and coupled with the sanctions given then this will be a big problem.

Just like the Government of China banning the whole cryptocurrency on their country

Which is why I tried to get a response and conversation going.  If china is about or was to the best my knowledge 70% of the hashrate contributers to bitcoin at least how is it the largest provider of cryptocurrency is banned in the very country they operate.  If it was banned wouldnt the chinese government just raid all the mining farms and arrest and prosecute and remove all the equipment.

If it was banned it would be stoped and since it isn't stopped then I guess it isn't banned so why are you saying its banned when its not you are the ones litterly creating it.

Or am I just to correct to continue to try and understand.

[CDC AP]

the main risk that comes to mind when investing in bitcoin is that you will lose money. due to bitcoin being a volatile investment, investing in bitcoin will not always yield gain but also losses, in fact your losses is much more likely to happen than your gain especially if you do not equip yourself the right knowledge when it comes to investing cryptocurrency. there are also different risks like using bitcoin for criminal purposes like money laundering and anonymous drug deals and such.

[StLucifer]

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.

[blatchcorn]

the main risk that comes to mind when investing in bitcoin is that you will lose money. due to bitcoin being a volatile investment, investing in bitcoin will not always yield gain but also losses, in fact your losses is much more likely to happen than your gain especially if you do not equip yourself the right knowledge when it comes to investing cryptocurrency. there are also different risks like using bitcoin for criminal purposes like money laundering and anonymous drug deals and such.

The volatility is double edge sword, it moves in both directions. Its because of this volatility you can gain huge profits and vice versa. If you don't like volatility and don't wanna take any risk then you can invest in government schemes where profit is fixed but its very much proportional to inflation. Its your choice what you want, no pain no gain.

[antminerguruguy]

I pray I am never spied on by the owners of ShawCable or the Japanese Government who owns shawcable on Vancouver Island?  Foreign governments?

[NicNacCoin]

There is a risk in everything in the way of life. Life can never be successful without risking one's life. We use Bitcoin we know there are a lot of risks here.There is a lot of risk and a lot of money. Those who have been able to work with risk have settled their lives today.

[chanler]

if we talk about risk then every currency or other investment also has a risk. It is true that we must understand the risks involved and study them so that we do not fall into failure, but with that we should not be discouraged or afraid to enter the crypto world. the crypto world is not that scary if we can be more careful and vigilant. stay alert to what we do because we have control over our own assets so use them and manage them well so that later we can also benefit from them.

[andriarto]

in business, risk must be a friend that we can control, as well as when we use bitcoin. of the many risks mentioned, I think it is the risk of volatility that often makes people tested their greed. many of them who run out of all their wealth just because they obey greed, and fall into gambling