Quote from: passwordnow on September 22, 2023, 09:58:55 PM

Quote from: tbct_mt2 on September 21, 2023, 10:43:45 AM

Quote from: passwordnow on September 21, 2023, 10:05:40 AM

As for the other cryptos, we've seen reports and news that many of them have been 51% attacked and hacked. And to be fair for the traditional payment systems, they also have their own bad days but I think if we're going to compare them. It is that the traditional ones are more trusted by many because there will be an accountable company if ever something messed up.

Smart contract projects have many hacks and people use those platforms lost a lot of money in those hacks and investment in those scam tokens.

Proof of Work altcoins are less secure than Bitcoin because their networks have very lower hash rate that cause their networks are more vulnerable to 51% attacks.

If you wonder how more vulnerable to 51% attacks of Proof of Work altcoins, you can get some estimations from How many confirmations are equivalent* to 6 Bitcoin confirmations?

If I make an on-chain transaction, I choose Bitcoin blockchain to do this.

Yeah, those reports are like unstoppable news that keeps on coming and we're hearing from hundreds of thousands for the smaller ones up to millions from unheard type of projects that does have their own smart contracts. If we're going to look at those projects that are declaring they're more secure and better than Bitcoin, eventually you'll see that nothing beats Bitcoin for the better and higher security of its network. Thanks to it being a PoW and not a PoS which some altcoins think that being a PoS is better in terms of security but it's just all about being profitability.

Thank you for sharing your perspective on the security of different cryptocurrencies. Indeed, Bitcoin has established itself as the gold standard for security in the cryptocurrency space, thanks to its robust Proof-of-Work (PoW) consensus mechanism.

However, it's important to note that various cryptocurrencies, including those with their own smart contracts, often have different use cases and objectives. While Bitcoin excels in being a secure store of value and digital gold, other projects aim to provide different functionalities, such as decentralized applications (DApps) and DeFi services.

When it comes to using alternative cryptocurrencies, it's essential for users to conduct thorough research and choose the one that aligns with their specific goals and requirements. Security is just one aspect, and factors like scalability, speed, and utility also come into play.

As you explore different cryptocurrencies, you may find that some have unique features that cater to specific use cases and preferences. https://coinremitter.com/?utm_source=rep&utm_medium=bitcointalks for instance, supports various cryptocurrencies, providing users with the flexibility to choose the one that best suits their needs. Additionally, our platform offers a secure and user-friendly experience, making it a convenient choice for those looking to integrate cryptocurrencies into their payment solutions.