Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: emma.lee1890 on October 30, 2018, 03:29:49 PM
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How can i be sure that my money would be protected from scammers or how can i know the stability of bitcoin?
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Bitcoin gives people the freedom to make transactions on their terms. Each user can send or receive payments, as well as for cash, but can also participate in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a specific number of certain people agree to sign it.
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Bitcoin is all about decentralization and hence there is a distribution of the responsibilities too. There is no central authority to take care of your funds and even if you are keeping your funds on any exchange, there is no guarantee that you will get your funds back in case of any hacking attempt. However, Bitcoin as a technology is very strong and no one can steal your funds if you are taking enough security precautions. Keep your funds with you (offline) and make sure that you are following security guidelines.
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There is no perfect security in this world, before you save money or invest bitcoin, you better first read the guide to do things with bitcoin. No one can be held responsible for any risk of bitcoin unless you own it as a holder of bitcoin.
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The most important problem in Bitcoin is lack of consumer protection . Since there is no intermediaries in Bitcoin transaction there is no fee for the transactions done the transaction is done only by the user and dealer ,the identity of the person is not revealed because Bitcoin is digital and decentralized in nature .The protection is secure for the consumers in Bitcoin since all the transactions are recorded in a global ledger known as blockchain and this is like a bank statement the common way to sell or buy Bitcoin is to use an exchange.
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That's what was said at the beginning, investing in bitcoin has a high risk, in the internet world everything is bad that can happen from hacking, etc. So what we have to improve is high vigilance and always be careful to do everything. Bitcoin does not have a strong protection for consumer protection on bitcoin I think, as long as we do not commit crime, then we will be safe. We can find bitcoin stability in the crypto market and we can find more information from many websites and forums that inform about crypto.
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Get yourself a hard wallet ti protect your assets from fraud, scams and hacks. If you have that much btc, getting a hardwallet wouldn't be such a big thing. Now with how you'll know the stability of bitcoin, it's useless to even try since btc isn't stable at all and no one can do anything about it.
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Bitcoin and fiat currency is almost the same. The fact that Bitcoin have more advantage than fiat currency because it cannot be reproduce and it is more transparent in terms of transaction. Even in fiat currency you are not protected from scammers. It is your responsibility to do your own research.
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if I think bitcoin is a very useful investment place. to change someone's life for the better. and security of investing and bitcoin assets. it's quite safe ..