Bitcoin gives financial security.

[BitBakerr1]

I heard about something that happened some time ago where a man won a huge some of money in gambling and he decided to save the money in a particular bank the money was there and later on the bank was closed down and he had to go through a lot of procedures to get his own money he was paid half of the money with promise of completing the payment soon, this won't happen if you saved with Bitcoin.

I also heard of a man who was into real estate investment and because of a new policy established by their government he lost a lot of money and that was how he went bankrupt, this won't happen if you invest with Bitcoin.

There was a story where a banker sends customers details to scammers and they have succeeded in scamming a lot of people, this won't happen if you save with Bitcoin.

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it, Bitcoin gives full financial security and you have privacy you alone controls your money, when you invest in Bitcoin you won't have to worry about government policy, in the time of war or conflict your investment is secured.

[Charles-Tim]

There was a story where a banker sends customers details to scammers and they have succeeded in scamming a lot of people, this won't happen if you save with Bitcoin.

You still need to avoid scammers and hackers. Lack of knowledge about how to avoid scam and hack can still make someone scam a bitcoin holder. There are people that their wallet are hacked but it was because of their fault.

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it, Bitcoin gives full financial security and you have privacy you alone controls your money, when you invest in Bitcoin you won't have to worry about government policy, in the time of war or conflict your investment is secured.

Privacy is broader and you are thinking privacy is the ability to have full control but that is not what privacy is. You can have bitcoin and have privacy with it but many people do not have the knowledge about what to do to have the privacy. But it is true that if you have the private key, you have the full control of your coins as long as no one knows the seed phrase (that can generates the private key) or the private key.

[Botnake]

Bitcoin could offer financial security but what if, if the people themselves aren't responsible enough to secure their funds with bitcoin? We don't question security with bitcoin, but that problem only exists if these bitcoin holders do not hold responsibility of their bitcoin, and end up trusting scammers they never knew would steal all their hard-earned bitcoin.

Financial security is not a broad topic, but it becomes complicated if those who own bitcoin are not knowledgeable enough on how to secure their bitcoin.

[Joy- maker]

Yes normally bitcoin gives financial security, and when it pays though it pays well, but before considering to save with bitcoin you should also have it at the back of your mind that bitcoin is riskier and highly volatile in nature, more than bank and real estate, which means when bitcoin price goes up you make profit and when it goes down you make loses, normally bitcoin is not controlled by the government or any authority, but it face challenges like losing private keys to your wallet, shutting down of exchanges and cyber security.

[franky1]

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it,

CORE govern bitcoins policy/protocol, and their dev-politics has been noticeably high in the last decade, they even have a hierarchy of power just like any government

so be wise, be wary, be aware of the risks.. and most importantly, scrutinise and review cores updates/plans for future upgrades

don't just be a blind newbie that read some fluffy promotional material, of buzzwords about bitcoin wrote 2009-2014, from a time before core even existed.. things have changed since 2014 so try not to use the words of 2009-2014 about bitcoin 2025

take for instance how core are depreciating old p2pk/p2pkh(legacy) usage, such as making it more burdensome to just import a legacy private key into core/modern wallet apps, and you can already see other wallet app developers have totally removed legacy compatibility/utility.. due to cores doctrine

so dont always expect to put funds into a certain address format and in 10-15-20 years come back and still be able to easily just import wallet/import private key/seed..
and dont always expect core to be helpful as they dont do customer service, refunds, insurance, compensation

(i love bitcoin and use it alot and hoard alot, but im aware of the risks and dont shy away from telling others that its not the immortal unchangeable utopia as promoted)

[X-ray]

I heard about something that happened some time ago where a man won a huge some of money in gambling and he decided to save the money in a particular bank the money was there and later on the bank was closed down and he had to go through a lot of procedures to get his own money he was paid half of the money with promise of completing the payment soon, this won't happen if you saved with Bitcoin.

this can still happen to bitcoin holder who holds their bitcoin not in their own wallet with their owned seed phrase, but in exchange, as the case with mt.gox and ftx.
but overall if the bitcoin holder is conscious enough of self custody, then they'd be fine most of the time.

the one thing that I find so revolutioniary with bitcoin is the fact that you can access your money anywhere as long as you remember the seed phrase, basically you can be stranded in a jungle with some random scrap laptop you'd find on trash and as long as there's internet you can access it.

[NewRanger]

the one thing that I find so revolutioniary with bitcoin is the fact that you can access your money anywhere as long as you remember the seed phrase, basically you can be stranded in a jungle with some random scrap laptop you'd find on trash and as long as there's internet you can access it.

For other things, if they store their BTC not in a cold wallet, for example on an exchange, it is better for users not to use passwords on exchanges or other websites, it is better to create a manual one as long as it is strong because if a particular website account database is hacked, the hacker can easily log in using our account credentials and one more thing, the schedule for visiting the account must also be frequent so that it is always monitored.

[K_vin]

Well this is true as investment in bitcoin can often be a better choice of investment than fiat currency however the risk is not fiat there is also risk with investment in bitcoin,. We face the risk of bugs, loosing wallet seed phrase, value depreciation, etc,. So while investment in butcoin is better its not void of risks as well, one needs to do it with proper proper knowledge otherwise you can still be susceptible to risks if not even higher risks

[Die_empty]

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it, Bitcoin gives full financial security and you have privacy you alone controls your money, when you invest in Bitcoin you won't have to worry about government policy, in the time of war or conflict your investment is secured.

You are correct that Bitcoin gives it's owners the privilege of controlling it without third party influence. It is also worthy to acknowledge that keeping Bitcoin puts an enormous responsibility on you. Any slight mistake can make you lose your Bitcoin. That's why some people who can not take such responsibility prefer to use third parties.

Bitcoin is indeed a good investment platform, but it will not also be out of place to diversify your investment. Real estate is a good asset to invest in. All investment has some level of risk, there is no need to discredit anyone.

Government policies could affect Bitcoin, an example is high tax, exchange restrictions or outright ban. You might have to move out such country to have a stress-free Bitcoin transactions.

In times of war, Bitcoin is a very good assets, since you can easily move to another location with it. But during war, the main focus is on survival.

[Oluwa-btc]

Bitcoin gives financial security in the sense that It operates differently and independently from central banks and governmental currency policies.It's decentralized nature makes it very safe as a global currency whereby promoting financial inclusion.
The financial security that Bitcoin offers comes in diverse levels ranging from security, transparency, decentralization and many more features that has made Bitcoin usage worth the time and knowledge.

[Pi$$]

We have heard several stories of money theft, local banks incapabilites of allowing easing access of personal funds and a lot more ever since the traditional system began. Its not a new thing anymore but there has been changes since Bitcoin became popular. I want to let you know that only few persons have been able to see that Bitcoin is a way for security of funds. When i mean only few is because people are aware of this article you published, but still they depend solely on traditional system of banking because they feel they can see physical people to blame if anything goes wrong. Many persons i have discussion with regarding this security funds, i hear things like if a fund is lost while performing Bitcoin transaction that is all gone, if someone have access to our wallet everything is also gone. So, it does seems like many persons cannot pay attention the security measures in Bitcoin they are afraid that they can be so clumsy or lazy to save their seed phrases or remember how they saved it.

[Lida93]

I heard about something that happened some time ago where a man won a huge some of money in gambling and he decided to save the money in a particular bank the money was there and later on the bank was closed down and he had to go through a lot of procedures to get his own money he was paid half of the money with promise of completing the payment soon, this won't happen if you saved with Bitcoin.

These are the issues concerning finance that bitcoin solves being a decentralized financial asset that don't only gives you full responsibility and control of your money but also serves as hedge to inflation that could devaluation your fiat saved in banks overtime.

I also heard of a man who was into real estate investment and because of a new policy established by their government he lost a lot of money and that was how he went bankrupt, this won't happen if you invest with Bitcoin.

Hmm what policy could be so quaking to send a real estate investor to go bankrupt just like that? Well, I wouldn't know but I do understand that such scenario is never heard with bitcoin investment.

[MarjorieZimmermanGinger]

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it, Bitcoin gives full financial security and you have privacy you alone controls your money, when you invest in Bitcoin you won't have to worry about government policy, in the time of war or conflict your investment is secured.

More precisely, it does not provide financial security but rather the freedom to achieve better finances. As for financial security, it is very much determined how you can make security steps better by using several methods. Likewise, regarding privacy because if you use an exchange that requires KYC, then the privacy is not much the same as using a bank product because our data is recorded there.

Bitcoin is indeed a source of financial freedom for all of us because there is added value to achieve a better stage and the presence of bitcoin changes our lives to make it easier to get a source of income if the investment we are doing is utilized properly and true.

[Swordsoffreedom]

The decentralized nature of bitcoin will give you full control over your assets and help you limit your dependence on third parties as well as avoid risks caused by third parties. But that doesn't mean your assets are completely safe because self-managing assets has its own risks and if you're not careful, you could lose all access to your assets .
Not to mention the volatility of bitcoin is also a form of risk and if you do not have a proper plan and put all your assets into bitcoin, you may face many challenges in life .

For me, each asset has its own pros and cons and I will be flexible in using them in different situations, I will not trust or depend on only one asset .

[Despairo]

Most people hold their coins in centralized exchanges, if the exchanges got hacked, failure or bankrupt, the customers high likely lost their money.

Non custodial wallet users will back up their seed phrase on somewhere else, if someone can access the seed phrase, their will lost all of their money. Or if the owner forget with the back up, they will lost  the coins.

If you buy, sell and hold Bitcoin on the countries where Bitcoin get banned, your coins could be confiscated and you will get jailed.

If you didn't report and paid the capital gain tax you made from Bitcoin, you could be investigated, got penalty fees and risk of going to jail for committing tax evasion.

[martinex]

If you didn't report and paid the capital gain tax you made from Bitcoin, you could be investigated, got penalty fees and risk of going to jail for committing tax evasion.

The way out of all of this is that we go sell it directly to Other People (OTC - Over the Counter) and this is also done by large institutions when buying or selling, so it is considered safer and avoids monitoring by the authorities and does not interfere with market performance either.

[coin-investor]

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it, Bitcoin gives full financial security and you have privacy you alone controls your money, when you invest in Bitcoin you won't have to worry about government policy, in the time of war or conflict your investment is secured.

But there are also some risks holding Bitcoin. If you do not know how to correctly protect your Bitcoin, it could get hacked.
Or if you flaunt it, people will be tempted to hostage you into giving them your passphrase.
Your financial security is good on Bitcoin, provided that you know how to protect your wallet and how to protect yourself from people's prying eyes. Education and being low-level and picking the right people to interact is the best way to protect your Bitcoin.

[pooya87]

Bitcoin will give you financial sovereignty by default not security by default. I'm afraid the same stories you told here can happen with bitcoin one way or the other. For example one could lose their wallet, get hacked or something and lose their money just like they lost their money while that bank in your example shut down. Or certain regulations could be imposed in some country that would prohibit the people from using bitcoin (including trading and investing) which would make it difficult and maybe even impossible for many to use bitcoin safely, similar to your real estate example.

What I'm trying to say is that when we live in a centralize world with laws and regulations, if these laws are bad we have to fix them. Otherwise bitcoin cannot magically fix it, just like the hypothetical scenarios I summarized above.

[stadus]

I heard about something that happened some time ago where a man won a huge some of money in gambling and he decided to save the money in a particular bank the money was there and later on the bank was closed down and he had to go through a lot of procedures to get his own money he was paid half of the money with promise of completing the payment soon, this won't happen if you saved with Bitcoin.

It sounds like that bank seems a bit shady. I'm not too sure about their process for handling a bank closure because in our country, when a bank shuts down, an insurance agency steps in to cover the deposits. This insurance only pays up to a specific maximum, around $8,500, so if a depositor has more than that, only the max will be refunded. I'm really curious about why he was only paid half and that the balance will be completed soon; that process doesn't seem to follow the standard.

Anyway, if we put our money into buying bitcoin, we're likely to be profitable since bitcoin is one of the most profitable assets when you look at its history year by year.

[rodskee]

Bitcoin will give you financial sovereignty by default not security by default. I'm afraid the same stories you told here can happen with bitcoin one way or the other. For example one could lose their wallet, get hacked or something and lose their money just like they lost their money while that bank in your example shut down. Or certain regulations could be imposed in some country that would prohibit the people from using bitcoin (including trading and investing) which would make it difficult and maybe even impossible for many to use bitcoin safely, similar to your real estate example.

to some extent bitcoin still gives some security because scenarios like losing your wallet or getting hacked most of the times is your fault and could be prevented if you had been more careful

however i did say only to some extent because as you said the government still controls all of us one way or another so but at least they would have no way to het access to our coins granted you are not holding them in a centralized exchange