Quote from: Charles-Tim on February 15, 2025, 11:51:58 PM

Quote from: BitBakerr1 on February 15, 2025, 11:45:27 PM

There was a story where a banker sends customers details to scammers and they have succeeded in scamming a lot of people, this won't happen if you save with Bitcoin.

You still need to avoid scammers and hackers. Lack of knowledge about how to avoid scam and hack can still make someone scam a bitcoin holder. There are people that their wallet are hacked but it was because of their fault.

Quote from: BitBakerr1 on February 15, 2025, 11:45:27 PM

It is worthy to note that Bitcoin operates on a decentralized network, This means no central authority or government controls it, Bitcoin gives full financial security and you have privacy you alone controls your money, when you invest in Bitcoin you won't have to worry about government policy, in the time of war or conflict your investment is secured.

Privacy is broader and you are thinking privacy is the ability to have full control but that is not what privacy is. You can have bitcoin and have privacy with it but many people do not have the knowledge about what to do to have the privacy. But it is true that if you have the private key, you have the full control of your coins as long as no one knows the seed phrase (that can generates the private key) or the private key.

It is important to be aware that hodling your funds on Bitcoin is also not a free scannable because their in the internet where we stores our Bitcoins, scammers tends to roaming about with their different strategies of stealing and scamming people with their hold of bitcoin.

If recalled the case of the binance chief compliance officer of Samuel Lim in 2023, he countered legal crime charges by the US government for using a deceptive measures circumvent the security system of the exchange with the binance users in invading the network for money laundry.

This is just to let know that when you decide to hold on to Bitcoin, storing it in decentralized wallets is just best and safer so it is not just about holding your funds on Bitcoin without knowing the perspectives or knowledge to different between the operation of decentralized and centralized networks.