Post
Topic
Board Bitcoin Discussion
Re: bitcoin is not Ideal, it represents possibilities.
by
Pursuer
on 24/04/2017, 07:13:41 UTC
Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
after 3 or so years I am still saying a similar thing, although I never used the word "anonymous" I prefer calling it "giving you a better privacy if you know how to" and I would never call it perfect but only because NOTHING is perfect. but bitcoin is the best thing that I have seen so far. many others claim to be better, some even come close but nothing could compete with bitcoin so far.

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But it has inherent risks like anonymity,
what is "risk like anonymity" how can it be a risk?

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hacking,
bitcoin has never been hacked and for many years to come, it can not be hacked. the cryptography level that it uses is good enough to prevent it and in case some vulnerability was found it will affect a lot of things, not just bitcoin. and it can be patched.
hacks have always happened because of people's mistakes. like having a key logger, having no password on your wallet, not using cold storage,...

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51%attack, double spending.
I wouldn't call these as "risks". these are small possibilities that also can be prevented.

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Stop imagining bitcoin is perfect. No coins are perfect.
it is best to have a better understanding of the advantages and disadvantages (or if you like calling it risks) of bitcoin or anything for that matter before starting to use it and try to learn then from reliable resources not what you read on the internet from random source or what your personal understanding is. they can be very wrong.