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Many say that Bitcoin is the safest way to hold value because Bitcoin cannot be hacked. But for many users that is not true.
It depends on how you look at it. Think about this first:
I sell you a door with a lock that genuinely cannot be opened by a thief. I now say that no-one can rob your house.
Of course it is true that no-one can open your door, but it is not true that the house cannot be robbed. The thief can smash the window, pick your pocket when you are on the street, trick his way into your house and so on and so on.
In Bitcoin many believe that because the Bitcoin ledger itself cannot be hacked, their money is safe. That is why they say Bitcoin cannot be hacked.
But it is actually quite easy to steal people's Bitcoin by hacking their wallets, stealing their passwords, hacking into exchanges and so on and so forth. We see it every day.
When you hear "Bitcoin cannot be hacked", many take this to mean that their Bitcoin cannot be stolen.
They are not technically knowledgeable so when they hear the words "cannot be hacked" they believe it menas their money is safe. For them "Bitcoin" is the whole collection of the ledger, the wallet, the exchange, their own computer
Many have their Bitcoin stolen, and therefore for many people they have to stop believeing that Bitcoin cannot be hacked.
For most non-technically knowledable people, the true phrasing is that Bitcoin can be hacked, and is being hacked on a daily basis.
I think there must be some risk, even though it is small, as far as I know there are two types of wallets, the first one is online, well here is clearly visible, that we use the network to get there nah network that can be called the road, hackers steal can go to to the wallet so can be labeled for online wallets less secure ,, but on the wallet ofline jg same, many people say that this is very safe, not even if the physical damage also can not be opened.It depends on how you look at it. Think about this first:
I sell you a door with a lock that genuinely cannot be opened by a thief. I now say that no-one can rob your house.
Of course it is true that no-one can open your door, but it is not true that the house cannot be robbed. The thief can smash the window, pick your pocket when you are on the street, trick his way into your house and so on and so on.
In Bitcoin many believe that because the Bitcoin ledger itself cannot be hacked, their money is safe. That is why they say Bitcoin cannot be hacked.
But it is actually quite easy to steal people's Bitcoin by hacking their wallets, stealing their passwords, hacking into exchanges and so on and so forth. We see it every day.
When you hear "Bitcoin cannot be hacked", many take this to mean that their Bitcoin cannot be stolen.
They are not technically knowledgeable so when they hear the words "cannot be hacked" they believe it menas their money is safe. For them "Bitcoin" is the whole collection of the ledger, the wallet, the exchange, their own computer
Many have their Bitcoin stolen, and therefore for many people they have to stop believeing that Bitcoin cannot be hacked.
For most non-technically knowledable people, the true phrasing is that Bitcoin can be hacked, and is being hacked on a daily basis.
i'm newbie just know cryptocurrency, i have a little money and i really want to income ICO. But a newbie like me will not discern which is a good project. so i hope old member who have experience this will share for me How to know a good project?
If you want to see a good project, then you need to observe through testimony from some people about the project, then look at the program that will be created if the company can exist among the community or even vice versa. because good or bad project depends on the sustainability of the project itself.Which of the Bitcoin wallets between the Online and Offline works best?
In my opinion, all the wallets are actually good, but there are some advantages and disadvantages, the first for the online wallet itself is actually safe if saves in a long time but the weakness if there is a hacker then most likely will be stolen, while for offline purses offline security is protected from hackers, but also has weaknesses, eg physically damaged, etc.What will happen if people just stop buying bitcoin? Will bitcoin be as usable as now Or will it be a step towards the end?
How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.
If people stop buying bitcoins ,,,, the same question is unwarranted, as if people stopped buying basic necessities. So in this case it can not be said that everyone will stop, because no one in this world has the same point of view or judgment, but everyone has their own strategies and ways to suit their needs.How will the market value react to it, people wanting to sell bitcoin but there is no one to buy.
Bitcoins very volatile prices have reignited the debate about its usefulness as a currency or as an asset. In some ways, Bitcoin suits the definition of currency quite adequately but if the volatility is less. It allows for the creation of secure and transparent transactions. Thus, can be used as a secondary currency in future. Some of the experts have huge concerns over its volatility. But, sooner or later the prices may remain less volatile as of today.
I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/
What's your opinion about BTC as a currency or an asset?
Suggestions and comments appreciated
Bitcoin usefulness as a currency or an asset? in this case I am also confused, whether it can be called as money or if this is an asset, because the definition of money itself is generally a tool of exchange, well here arises a problem whether bitcoin can be used for the means of exchange as a whole, both upper and lower society layer. because my setau only certain people who use it.I have mentioned few points about Bitcoin as a currency or as an asset in my article here: https://atozforex.com/news/is-bitcoin-a-currency-or-asset/
What's your opinion about BTC as a currency or an asset?
Suggestions and comments appreciated
Saving Bitcoin in a wallet for a long time is there any risk? while for long-term investment I have to keep it in my wallet. Please advise...
I don't not see much risk in saving your bitcoins in a wallet for longer term unless there is a hacker attack. But try not to keep the bitcoins in an online wallet like coinbase or blockchain. Their policies keep changing and you may to be aware of such policy change if you are planning to keep your bitcoins for longer term. Instead try to use offline wallet like Electrum. Just download and install the wallet. You don't need to download the entire blockchain with electrum wallet as it is connected to a central server where blockchain is being downloaded. So whenever you open that wallet, it connects to the blockchain and whenever you close it, it gets disconnected from the online server. It's safe and you will have access to your private key as well. My recommendation is Electrum wallet.
For storing Bitcoin long term, it is recommended to store in a paper or hardware wallet. It is not so safe to store in exchanges and online wallets. The reason is because you dont control the private key account. If anything happen to the exchanges or online wallet, you will lose your coins. Better be safe than sorry.
thanks for the suggestion, yes i agree with the save in the paper or hardware wallet, but is it later when there is damage in this wallet is there any way to overcome it? because the paper is more vulnerable damaged .. please advice again ThanksI think Bitcoin will not replace Gold, Gold is real while Bitcoin is Digital, but if it is about price, Bitcoin has defeated Gold ...
bitcoin and gold have more specific characteristics and basically the function is almost the same that is for investment, but there is a difference here people may prefer gold because stored in a long time will be safe and there is a reality. people are more confident with something that looks different from bitcoin that the level of security and risk we do not know and the shape was not visible.so very risk because, however investing further extends the level of risk and it differs from investment to investment and thus there is no guaranteed assurance in any case, especially when it comes to the investments using crypto currencies.
yes i agree, to calculate the risk can be said there are but the number who do not know for sure but certainly every activity must have risks. perhaps in this case its value decreases due to several reasons. maybe you can speculate that later the value will go back up and then you will sell it but save bitcoin in a long time will risk loss, could be stolen from your wallet or damaged hardisk if you save it here.Even though I am a veteran in trading, I am an absolute newbie in mining related matters. I have never tried to mine because my laptop is very old with Intel i3 processor. However, I have recently purchased a new gaming laptop with i7 processor, 12 GB ram and 4 GB DDR5 graphics card. It is still on the way and probably will receive it within another 4 days. I am planning to mine Bitcoin Gold which are going to be created after the upcoming hard fork.
Can anyone please help me with a step-by-step guide of bitcoin gold mining. I need to know from the beginning as I have no idea about mining.
Thanks in advance!
to be honest I also just know about this mining, but from some articles that I read there mention that there are several ways that one can use one with cpu. well I am also confused here how to use it how? while I am a person who does not master computer. please also if you can explain in more detail or there may be manuals. thank youCan anyone please help me with a step-by-step guide of bitcoin gold mining. I need to know from the beginning as I have no idea about mining.
Thanks in advance!
Bitcoin is something radically new. Nothing like Bitcoin has been possible until now. I would go so far as to consider it sui generis; "in its own class". This makes it important to understand what Bitcoin actually is before we try to describe it to others.
We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money.
My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted]
Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted]
Webster's Online Dictionary defines money as:
[/list]
I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.
But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money?
I think the definition of money is a legitimate means of exchange or that has been recognized by the government. the function of money is also in fact the same as the main means of exchange. well we try to think more deeply, the definition of the instrument of exchange itself is to overcome the difficulties in barter. so seeing from its function is actually the same bitcoin that can be used as a medium of exchange or also as a unit of counting that distinguish here is the only form. just as we keep the money in the bank and we get only nominal in atm according to the currency of each country.We're getting a good handle on the code, and of course on Bitcoin's function and utility, but what words should we use to describe Bitcoin itself? There has been some debate in other threads [mostly my doing] over how it is like/not like money, cash, dollars, etc. I'd like to start this thread by focusing on the term "money", and play Devil's avocate by asking for your best arguments that Bitcoin IS money.
My legal dictionary states "In usual and ordinary acceptation it [money] means gold, silver, or paper money, used as circulating medium of exchange, and does not embrace notes, bonds, evidences of debt, or other personal or real estate." [cites omitted]
Wikipedia says "Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment." [cited omitted]
Webster's Online Dictionary defines money as:
- 1. The most common medium of exchange; functions as legal tender; "we tried to collect the money he owed us".
- 2. Wealth reckoned in terms of money; "all his money is in real estate".
- 3. The official currency issued by a government or national bank; "he changed his money into francs".
- 4. A piece of metal, as gold, silver, copper, etc., coined, or stamped, and issued by the sovereign authority as a medium of exchange in financial transactions between citizens and with government; also, any number of such pieces; coin.
- 5. Any written or stamped promise, certificate, or order, as a government note, a bank note, a certificate of deposit, etc., which is payable in standard coined money and is lawfully current in lieu of it; in a comprehensive sense, any currency usually and lawfully employed in buying and selling.
- 6. In general, wealth; property; as, he has much money in land, or in stocks; to make, or lose, money.
[/list]
I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.
But that is just my point of view. Are there any that can convincingly argue otherwise, that Bitcoin IS money?
There is no chance bro. Bitcoin never ban. It's a digital and technical currency. One day it's get the top position. Whole country one day accept bitcoin cordially. One day you can use bitcoin to buy anything. The day is near. Just wait and see.
I think the government's bitcoin ban is almost impossible because bitcoin moves in the world of the Internet or the network, maybe it can only block the sites of each country. look at sites that have been circulating there are some that can be blocked and some are not. so it's not that easy to ban bitcoin.We all know the advantages of BTC, but what are some of the disadvantages??
although many of the benefits of bitcoin itself also has weaknesses or deficiencies, such as the unstable value means that at any time can go down in value or even become up and then the risk of lost or stolen is still possible because it is still in the form of files and if stored on the hard disk is vulnerable to damage.Re: [ANN] [BOUNTY THREAD] ☼☼ Playkey.io ~ 3,915,000$ to Share ! ☼☼[NEWW]
Bitcointalk username:stevanprice
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Eth adress: 0x584cb5446a171e900567317357b4Ae6C415A575c
Rank:Jr member
Current post count: 30
Profile link: https://bitcointalk.org/index.php?action=profile;u=1172034
Eth adress: 0x584cb5446a171e900567317357b4Ae6C415A575c
Indeed it is a fact that bitcoin provides extensive advantages and we're all becoming achieved positive results by that. Bitcoin assists many people as it pertains financially simply because generating bitcoin will pay their bills and daily requirements. Just by investing in bitcoin many people can earn profit from it simply because everyone knows how the price of bitcoin is continuously changing.
for me, bitcoin has many advantages such as a very high value that can be used for investment and sell it if the price is going up and even fulfill daily life, then in terms of security bitcoin is the most secure currency because this currency does not have form or virtual currency so it can not be faked.I do not think bitcoin will suffer destruction because over time more and more people are using bitcoin to perform various transactions or just investment. only one thing can destroy the bitcoin ie the internet. bitcoin will be destroyed if the internet can no longer be accessed and it will be impossible.
I think for now this bitcoin is not a problem to be a disadvantage. Because the bitcoin is the most profitable and also have the best future. And keep in mind, the internet will not be lost or destroyed. Because basically bitcoin is a digital currency is best, and it's certainly the internet will always be a place to update and expand. So don't ever minded bitcoin will crumble when the internet is lost, because surely the internet will never be lost. Continue working and never surrender to face everything.
With BTC in such a strong uptrend atm, are you buying altcoins right now? A lot of them are kind of 'cheap' and have been falling while BTC have been increasing.
Seeing from the current value of Bitcoin whose price has been very expensive may I have to rethink to buy it, while if not purchased now its value will increase again in the future. so until now not thinking towards there let alone buy another type whose value has not tau whether later will increase or even decreased instead.https://www.deepdotweb.com/2016/01/23/bitcoin-playing-an-increased-role-in-crime-europol-says/
Would you believe that the existence of bitcoin has increased the number of criminality in some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities.
This just shows that as bitcoin develops both advantages and disadvantages will tag along.
I think there are some advantages and disadvantages, this is what will be seen and used by a group of people to do things either negative or positive. it all depends on the needs of the group itself. so it can happen anywhere and anytime depending on the chance and the intention that will do.Would you believe that the existence of bitcoin has increased the number of criminality in some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities.
This just shows that as bitcoin develops both advantages and disadvantages will tag along.
Bitcoin right now keeps on increasing its value, and many more cryptocurrencies are occurring.
Do you think someday bitcoin will end or will be replace by other cryptocurrencies?
Is it too late to invest?
Is there a chance that bitcoin will be down?
I dont think that bitcoin will fall down. Do you think someday bitcoin will end or will be replace by other cryptocurrencies?
Is it too late to invest?
Is there a chance that bitcoin will be down?
Like what you say bitcoin price was continuing to move up.
So it means that many investors are coming and trying to invest in bitcoin.
The bitcoin community is continue to grow and even if there are many cryptocurrency came out they still stick to the bitcoin.
Because they trust it.
And I think that trust was enough to make bitcoin stay in the market.