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Author Topic: Bitcoin portrays less risk of financial transaction than other investment system  (Read 198 times)
The Cryptovator
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February 27, 2024, 07:26:41 PM
 #21

If you are trading with a trusted seller, there is no risk unless you go face-to-face. Dealing face-to-face is always risky when it's Bitcoin. Otherwise, the safest money transaction is Bitcoin. You don't need to carry cash or a pocket book to send money somewhere. For investment, Bitcoin is also safe if you can hold your funds in a non-custodial wallet to which only you have access. However, due to scammers, it is very important to know with whom you are dealing. Also, you have to protect your privacy. Don't let others know how much Bitcoin you are holding. 

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February 27, 2024, 07:53:32 PM
 #22

Yeah Bitcoin is the most safest when it comes to safety and security, but make sure they're hold their coins in either air gapped wallet or hardware wallet. If they're hold their coins in hot wallet, it completely ruins the safeness in Bitcoin.

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Investment is not trading so safest investment is not safest trading. It's a wrong talk.
I think he meant "exchanging", although "trading" also fits the definition, but it could confuse some people when the topic discuss about a volatile asset.
Yeah as we all know that trading is risky but if OP is referring to "exchanging" I think it makes sense. Given that we can transact without others knowing that we are buying and selling our assets in Bitcoin. Compared to centralized physical assets we are exposed to the eyes of all who witness the transaction and of course the physical appearance of assets we buy and sell. Easy target for lawless elements compared to Bitcoin transactions.



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February 27, 2024, 08:06:49 PM
 #23

If you are trading with a trusted seller, there is no risk unless you go face-to-face. Dealing face-to-face is always risky when it's Bitcoin. Otherwise, the safest money transaction is Bitcoin. You don't need to carry cash or a pocket book to send money somewhere. For investment, Bitcoin is also safe if you can hold your funds in a non-custodial wallet to which only you have access. However, due to scammers, it is very important to know with whom you are dealing. Also, you have to protect your privacy. Don't let others know how much Bitcoin you are holding. 

Digital cash is doing the same, I do not know what makes OP think that only Bitcoin can be sent without physical interaction.  The only advantage of Bitcoin is its fast transaction when doing cross border transfers assuming that the network is not congested.  Yes, Bitcoin is decentralized and we have the freedom to send transactions without third-party intervention but at a cost of self-responsibility if something wrong happens along the transaction.

When buying tangible things with Bitcoin, even though the buyer and seller do not meet face to face, the buyer has to give his information for the seller to know where to ship the item.  it does not look so different in using cash to purchase items online, IMO.

So @OP what really is the advantage of Bitcoin?  I only see some things like protection from inflation, borderless transfers, and decentralization, probably a good investment if one has the patience to wait and is knowledgeable about market timing. But if one uses Bitcoin to purchase an item, I do not think it differs from using fiat currency.  except being at a disadvantage when you are the buyer and an advantage if you are the seller due to an irreversible transaction once confirmed.
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February 27, 2024, 09:11:53 PM
 #24

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.
Although the risk involved in investing in Bitcoin may be different from other investments it does not mean that it is free from risk. The risk with investing in Bitcoins is peculiar and as dangerous as the risk involved with other investments. As an investor in Bitcoin you may be doing yourself a lot of harm by assuming that Bitcoin is less risky, with that assumption in mind, you may let your guard down and give scammers and cyber criminals a way to teach you a lesson. Do not make that kind of mistake please.

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February 27, 2024, 10:05:45 PM
 #25

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.
Although the risk involved in investing in Bitcoin may be different from other investments it does not mean that it is free from risk. The risk with investing in Bitcoins is peculiar and as dangerous as the risk involved with other investments. As an investor in Bitcoin you may be doing yourself a lot of harm by assuming that Bitcoin is less risky, with that assumption in mind, you may let your guard down and give scammers and cyber criminals a way to teach you a lesson. Do not make that kind of mistake please.
Well, every investment is risky in some ways. Maybe those investments that involve online transactions using fiat currency are more prone to scamming, wherein scammers could steal money from investors who didn't have strong sense in terms of investment scams. While bitcoin is a secured currency, the only way for scammers to scan you is through your own doings as well. Bitcoi. It is secured in the sense that the transaction is address-to-address and the transaction is unknown to anyone, so it is safe, and you can transfer a huge amount of money without worrying about losing that money, but of course it is the responsibility of the investor to identify which is scammer or not. Is bitcoin more risky? Nope, I think they are all the same. As I said, every investment is risky in its own way, but the thing is, I like more bitcoin because it is the new technology out there that has a lot of potential, and I'm not regretting investing in bitcoin based on what is happening in the bitcoin market right now.

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February 27, 2024, 10:46:49 PM
 #26

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.
Although the risk involved in investing in Bitcoin may be different from other investments it does not mean that it is free from risk. The risk with investing in Bitcoins is peculiar and as dangerous as the risk involved with other investments. As an investor in Bitcoin you may be doing yourself a lot of harm by assuming that Bitcoin is less risky, with that assumption in mind, you may let your guard down and give scammers and cyber criminals a way to teach you a lesson. Do not make that kind of mistake please.

And not many people can truly understand this market. This is why you can't generalize that btc is one of the safest investments, because for most regular people, it is not. If you are into crypto market, maybe, you can have that confidence on btc. But if you are not into this market, this will be one of the investments that you want to avoid. So this subject matter totally depends on the user, how well he is oriented on this market.

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March 05, 2024, 09:22:28 PM
 #27

Who has ever thought about Bitcoin investments as one of the safest investments ever when you talk about the trading?
Just have a view of an anonymous Bicoin P2P transaction where you could trade and transact millions of dollars legitimately with a zero risks of being physically attacked for theft or bridged of trust with a dealer after successful transactions.

Have an Insight if aside being scammed which is common in all financial systems and the inefficient exposure of a Bitcoin investor which is also a threat and common to some other influential sector of investors who loose guards from keeping their financial portfolios private to the public, what other risk is involved in the Bitcoin transactions?

Imagine the other business sectors especially those that has to do with a physical negotiation before building trusts for transactions. 😏

I agree with you that bitcoin transaction are quite safe and the anonymity involved offers a lot of benefits over the traditional financial system. But I am not sure if it's really better than cash transactions in every aspect. For example, cash transaction can't be tracked. Once you hand over the money it's gone, the government has no form of following that money and making sure taxes are being paid. Which is why used car sales people like to deal to in cash so much. Bitcoin would be an alternative here, but the coins can be tracked. And once the coins are exchanged for fiat again are transfered onto our bank account the government will know too. Another issue with crypto transactions are a sending it to the wrong wallet. There is no way for us to get our coins back after making such a big mistake. With banking it happens too that people send money to the wrong account, but here the bank can intervene and get our money back.
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