Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: bdamenaakter on September 29, 2018, 09:01:27 PM
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Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
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The reality on the ground is that, banks have been around a long time and have proven to be trusted. You are comparing the safety of bitcoin and banks and you couldn't say anything that bitcoin poses that makes it more safer than banks.
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The reality on the ground is that, banks have been around a long time and have proven to be trusted. You are comparing the safety of bitcoin and banks and you couldn't say anything that bitcoin poses that makes it more safer than banks.
This is true. that the bank still got the full confidence of all the people and the Government of the bitcoin on. I think this is normal because of the nature of the bank can be monitored more than bitcoin.
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In my opinion, the Bank is safer than bitcoin, because the Bank has been recognized and regulated by the government, while for decentralized and anonymous bitcoin, nothing makes Bitcoin safe
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In my opinion, the Bank is safer than bitcoin, because the Bank has been recognized and regulated by the government, while for decentralized and anonymous bitcoin, nothing makes Bitcoin safe
Yes, I think you are right. Bank is still safer for now yet bank has a secure system supporting by government while bitcoin seems too volatile and unstable. Even sometimes bitcoin can multiply its values significantly but there is a big risk to lose all investment.
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For me yes but somewhat no. Yes, because surely your money will profit without any interest cutting of by any system. Instant profit, meaning if you invest now tomorrow it will profit and if the value is low it will be lowered. No bankruptcy, meaning the money safe since it is invested in the blockchain or rather crypto market. No, because the value of a particular coin and token cannot be determine. In some matter you will lose dollars if it will be lowered so you must work on it.
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The reality on the ground is that, banks have been around a long time and have proven to be trusted.
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At the moment, I would prefer to invest in Bitcoin than in a bank. In the bank now it’s generally unrealistic to earn something, rather they will earn on you
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I think banks and bitcoin are the same safe with their own strategy in handling the particular storage of data. Bitcoin have weakness and strength same with banks.
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I think bank is still better as long as the concern is about the safety of your fund. Bitcoin is safe but its advantage is just the chance to be the other source of income.
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Maybe we can base our thoughts on these if we can ask more people about how they feel about banks as a safe storage of money. But not to take any side and not to compare, In my locality I haven't heard about such fraud concerning the banks itself because if there is people would certainly get out of banks and find another means to store their money. I think many still believe banks are safe. If such case have been recorded maybe it doesn't really get to the majority of the banks therefore this is a kind of an isolated cases only.
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I think for security reasons, banks are safer than bitcoin. Because banks are institutions that get government support. But for reasons of technological sophistication, I think bitcoin is more powerful than banks.
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For that, especially in terms of security, the Bank is safer than Bitcoin. Because banks still use the centralized system in their finances and still use manuals, so it's safer, but it's also wasteful of budget. Unlike Bitcoin, security depends on us alone because it uses the Decentralized financial system, it is also beneficial in making transactions because without having to have a third party and be more economical. That's the difference in security.
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Banks are safer because there is someone to take care of your problem if anything wrong happens with your money in the bank and people are comfortable with the banking system whereas bitcoin is new, most people don't know about it and if you lose your bitcoins to any scam, them there is no one to help you.
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the problem is not very well understood, as far as I know it is still safe in the bank, what else is storing bitcoin can still be broken or stolen like I did yesterday, for example if it is added to security it will definitely be safer to store bitcoin
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in my opinion the same has security, but if the question is whether bitcoin is profitable than the bank?
the answer is yes ..
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Bitcoin has risks and banking also has risks, even in my opinion the risk of Bitcoin is greater than banking. but Bitcoin is an opportunity for success, so even though Bitcoin has a higher risk, people are still happy to own or invest in Bitcoin.
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If it says and discusses the risk then both are risky. everything has a risk. only your attitude and actions we are capable of this. to speak in terms of secure, then I would argue the bank is safe for now.
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Maybe we can base our thoughts on these if we can ask more people about how they feel about banks as a safe storage of money.
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A place to save money the best is in the Bank. We know how to keep the money in the Bank certainly has a very good record and very little risk. But if saving money on crypto is certainly when you lose money we would not be able to find out who stole our money. However, you can develop your money to get a huge profit by investing.
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To be honest, banks are safer than cryptos, because if there is a problem, you can go to the bank and fix it. But this is not the case for bitcoin and other cryptos. If you write the wallet address wrongfully, for example, this error will cause you to lose your money and you will not be able to get help from anyone.
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In my opinion, the Bank is safer than bitcoin, because the Bank has been recognized and regulated by the government, while for decentralized and anonymous bitcoin, nothing makes Bitcoin safe
Yes, I think you are right. Bank is still safer for now yet bank has a secure system supporting by government while bitcoin seems too volatile and unstable. Even sometimes bitcoin can multiply its values significantly but there is a big risk to lose all investment.
yes i think you are right. safer in the bank because the bank has a security system that is supported by the government. while bitcoin is always not as stable as it is easily changed when suddenly prices fall and do not rise we can lose our investment. indeed every thing is definitely a risk but I think for this matter especially in terms of security. bank is safer
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Banking is all around directed and there is no namelessness. Along these lines, the level of responsibility required from the players in the banking industry is high which implies that monetary violations can be avoided. Digital money isn't controlled and it is mysterious. This makes it simple for criminal to carryout all way of violations. Keeping money is more secure.
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In my opinion people have to be more attentive. Before you decide to invest money or take part in some project you should explore it and evaluate all pros and cons.
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I think both of them are safe because the bank also uses special security. If there is no security, there is no way we can put our money in the bank. But for profit reasons, I think bitcoin is more profitable.
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According to my own understanding both are the same vulnerable. Whether bitcoin or banks we should play with knowledge and understanding about the do's and don't. It is better to be prepared than just going with the flow.
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Reports have it that bank frauds still continue to happen despite of strict security measures being taken by the banks. Just between January to July 2018, just timeshare fraud alone had 1.155 reported cases. It's when you’re told you can go on a free holiday or get rich by joining an exclusive holiday club or timeshare programme, but you’re eventually forced to pay for it through small print in the contact. That is not to mention other types of fraud like identity theft etc.
This gets me thinking, is it safer to just have bitcoins, or cryptocurrencies for that matter since it's not regulated by banks? What do you think?
Yes I think, Bitcoin is safer than banking. It is secure and pseudo anonymous. It is good for payment system.