Post
Topic
Board Bitcoin Discussion
Re: how strong is bitcoin really?
by
jekjekman
on 10/11/2016, 13:12:33 UTC
Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.
How are you determining whether or not something is safer that BTC, etc?  Biitcoin I though would be safer because there is no way to beat the system and take it.  Unles your account is hacked and such, there is not much of a way to loose it.  The same can happen to FIAT and all other coins.  Just wondering what basis you are using to make this statement.
But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

I guess you are confusing different matters here. Namely, hacking with stealing. To hack a fiat currency, you would need to break into a Central bank's servers. How are you going to do that if these servers may never be online? Even if you succeed (purely hypothetical), your "hack" will be reversed in less than no time once discovered. On the other hand, stealing Bitcoins from desktop wallets is a usual thing nowadays...

And no two factor authentication will help you in that case

Hacking and stealing of course is different but have some similarities, if you want to be take it literally so be it, is FIAT currency will be stored forever in the Central bank? I think not, it must be circulated. We can't steal bitcoin with our bear hands, breaching to the system or hacking it then stealing will do. Stealing information is consider hacking, hacking information is consider stealing, so My friend which is which.