Post
Topic
Board Bitcoin Discussion
Re: The reason why Bitcoins is the safest system
by
hatshepsut93
on 29/05/2018, 23:01:50 UTC

😓 Neither do I
I just wanted to say that
Banks are based on cryptography and if people can trust them then the Bitcoins ( who are also based on cryptography ) can be trusted too.

This is wrong, it's like saying that cars and planes are the same because they both have wheels.

Banks, as well as a lot of other industries are using cryptography for secure communications and user authentication. In Bitcoin it is used for user authentication and establishing consensus in decentralized environment. These systems are too different to simply reduce them to "cryptography".
Also, people are right to doubt cryptocurrencies and blockchain, they are still new and experimental, and only few coins like BTC or LTC can be considered safe. There are many examples of crypto projects having bugs and vulnerabilities that result in severe loses for their users, so being "blockchain" doesn't mean that it's secure and trustworthy.