How safe is Bitcoin

in #bitcoin4 years ago

In the Netherlands there are already quite a few people investing in bitcoin. But is it safe? I also read a lot on forums that many bitcoin wallets are hacked. The problem is that if your wallet is hacked, there is no guarantee whatsoever of a reimbursement of your accrued capital. I think that is a huge risk.

I certainly see an advantage. Because there are no banks in between, no costs are charged. In the Netherlands, sometimes high and unnecessary costs are charged for certain transactions or investments. You do not have that at Bitcion.

Still, something of a pyramid scheme continues to wander around in my head. Bitcoin is of course rising very fast because people around the world find it an interesting currency. The data structure (Blockchain) behind the bitcoin network is also interesting for many people. You can pay immediately without the intervention of a bank.

All in all interesting material but still a number of uncertainties for me. I am thinking, for example, of the global financial crisis that started in the summer of 2007. The bitcoin bubble will eventually break apart and then a lot of people lose a lot of money. There are also no guarantee funds that banks knew during the crisis.

For me personally still a number of uncertainties to step into the bitcoin. But maybe there are people who can leave a message indicating that buying bitcoin is safer than I think at the moment.

Pariah1972

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Strong Passwords and 2 way verification seems to hold up quite well. Many are ponzi scams so be on the lookout for that with not well known sites. Stock exchanges don't matter if it goes up or down you can still profit on either side of the hill as long as you predict it in the right direction.

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