Are We seeing more security in Bitcoin ?

[ahmedo24]

Lots of Exchangers like coinbase, Bitfinex and Bittrex doesn't trade Monero. However the security in bitcoin storage facilities like wallet and Exchange are improving on daily basis.

 

[Nurudeen]

I don't think more security measures is still put in place in terms of getting bitcoin and other altcoin. More criminals and other government officials still use this form of crypto currency to launder money all over the world and the disadvantage of this coin is that the government don't have the power to regulate it in any country just like the way they are now regulating Fiat currency.
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I don't think more security measures is still put in place in terms of getting bitcoin and other altcoin. More criminals and other government officials still use this form of crypto currency to launder money all over the world and the disadvantage of this coin is that the government don't have the power to regulate it in any country just like the way they are now regulating Fiat currency.

 

[Ralphjoe]

Well I think it's all due to the rise in the use of KYC to verify users that is attributed to the sudden decrease of using Bitcoins to do illegal transactions. This should be encouraged by al and sundry because if Bitcoin can become a clean platform of digital currency, them I think the government will key into it.

 

[GoldenLady]

I think scammers might now be using privacy coins like monero and others , since they have seen the weakness there , like they could steal and put funds there and it would be more difficult to know track them, so they keep on using Monero , and that is why most country wants to ban the coin

No wonder Monero has been growing so fast. This is a major disadvantage to the coin, as most countries will look for ways to regulate it, or even ban the coin outrightly.

Criminals will certainly prefer the privacy it offers.
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Well I think it's all due to the rise in the use of KYC to verify users that is attributed to the sudden decrease of using Bitcoins to do illegal transactions. This should be encouraged by al and sundry because if Bitcoin can become a clean platform of digital currency, them I think the government will key into it.

It's good that fraudulent activities with Bitcoin can now be traced to the exchange sites, but it might be problematic if government should come into Bitcoin regulation, don't you think so?

They are already looking for ways to do so, and we know that most governments always have their own selfish interest at heart.

They might try to control it completely and it won't be as fun and easy to use anymore.

 

[Planet408]

Government I'm the first place didn't really like bitcoin. However, I don't think there is any measure which can be implemented to ensure there is no fraudulent activity carried out with bitcoin. This is because government have not even be able to protect our paper currencies from fraud.

 

[MarieArie]

Bitcoin trading is how you can speculate on movements in the cryptocurrency’s price. While this has traditionally involved buying bitcoin through an exchange, hoping that its price will rise in time, cryptocurrency traders are increasingly using derivatives to speculate on both rising and falling prices – in order to make the most of bitcoin’s volatility.

 

[Patrik]

we will absolutely do, we are in a new generation where bitcoin is being day by day a main thing in the lives of people, from normal payments to investements and even high budget businesses, so security will be better for sure

 

[Goldentaby]

The recent drop in Bitcoin is a solidifying factor. Just like in any business, there are ups and downs and Bitcoin is a veritable platform to make a significant amount of money. The drop in Bitcoin will help it rise to a very high level.

Each Bitcoin is literally worth a lot of money and should be viewed as digital gold in a new form. The Internet gold and, as such, the crypto reserve currency. Many cyber criminals are constantly trying to figure out how and where bitcoin can be easily stolen. It is particularly dangerous to have malware in the form of a keylogger on a computer or smartphone.

 

[lelakil3]

According to data released by chainalysis , the rate at which Bitcoin is being used for illegal activities reduce up to 53% in the year 2020.

As at 2019 , there were a total of 20 billion illegal activities carried through Bitcoin . This statistics reduce by 53% in 2020.

Do you think that more security measures are putting towards improving security of Bitcoin and cryptocurrency in general ?
Will this convince the government about Bitcoin ?

maybe the most needed security is the platform how the bitcoin work, security on the platform from the sectors how it is farm, trade and wallet thru this if their will be no allowed illegal activities thru bitcoin in will lower the rate of illegal activities.

 

[Ehizzy1]

Well , presently privacy coins like Monero which the most popular ,have been banned in some countries , infact some exchange site do not have their trading pair . So it won't even be easy for them to use it. The monero Mining has reduced as well.

I think maybe that is the reason for the drop in price of the coin , but i would like It if the company behind the building of the coin could turn it back from privacy coin to the normal coin ,because its really affecting the growth of the coin i think and the coin has a lot of potentals to increase like bitcoin , litecoinand the rest

 

[Josemendez]

I think maybe that is the reason for the drop in price of the coin , but i would like It if the company behind the building of the coin could turn it back from privacy coin to the normal coin ,because its really affecting the growth of the coin i think and the coin has a lot of potentals to increase like bitcoin , litecoinand the rest

The fact is that such action won't easily be possible because the coin as been made that way .it is like turning a stable coin to volatile coin , such act won't be possible in the world of cryptocurrency .they have to need another fork of monero , to be able to achieve this . They just need to abondone the project.

 

[Ehizzy1]

The fact is that such action won't easily be possible because the coin as been made that way .it is like turning a stable coin to volatile coin , such act won't be possible in the world of cryptocurrency .they have to need another fork of monero , to be able to achieve this . They just need to abondone the project.

They might just continue since you said isn't possible again because people already invested their money on the project , so they can't just abandone the project well i just hope there could be a final way of tracking privacy coins like that , it would be really okay i think

 

[Mrallison]

The statistics is very promising and will surely bring more people into the crypto currency world but i think the present increase also help reduce the amount of fraudulent activities carried out with crypto currencies

 

[BrolySSJ]

According to data released by chainalysis , the rate at which Bitcoin is being used for illegal activities reduce up to 53% in the year 2020.

As at 2019 , there were a total of 20 billion illegal activities carried through Bitcoin . This statistics reduce by 53% in 2020.

Do you think that more security measures are putting towards improving security of Bitcoin and cryptocurrency in general ?
Will this convince the government about Bitcoin ?

This is a very good news to hear, and it shows that to a certain extent that perhaps cryptocurrency and the Bitcoin in specific, is becoming more regulated. This can be a good thing for the governments as well as the statistics show them that with time and regulations that other countries have implemented, after adopting crypto, that they are able to reduce the number of crimes that do happen from cryptocurrencies and this could help in promoting these coins in the future for their adoption. After all, the crime rate was one of the main concerns that was raised by many governments.

 

[Variable]

According to data released by chainalysis , the rate at which Bitcoin is being used for illegal activities reduce up to 53% in the year 2020.

As at 2019 , there were a total of 20 billion illegal activities carried through Bitcoin . This statistics reduce by 53% in 2020.

Do you think that more security measures are putting towards improving security of Bitcoin and cryptocurrency in general ?
Will this convince the government about Bitcoin ?

What do you by security measures? If by that you mean regulated and monitored transactions , it's a no from the start , the chain has no control over what people use the money for , that's what bitcoin's main sell point is and they have to accept it , since they refused to give out to the central ,so yeah by this time , even the chain itself cannot check the legitimacy of any transaction given the way it's built

 

[Jumoke12]

According to data released by chainalysis , the rate at which Bitcoin is being used for illegal activities reduce up to 53% in the year 2020.

As at 2019 , there were a total of 20 billion illegal activities carried through Bitcoin . This statistics reduce by 53% in 2020.

Do you think that more security measures are putting towards improving security of Bitcoin and cryptocurrency in general ?
Will this convince the government about Bitcoin ?

Well, I do hope that the security will be tighter and people's funds will be safer and we will be able to have rest of mind even after having secured our wallets.

 

[Nicklas22]

I think so if the government knows that they rate at which Bitcoin scam has reduced, many countries will allow the use of cryptocurrency in many of their business transactions

 

[Mostee501]

From my observations bitcoin security has become better,plus more high investors like Elon musk and the UK government accepting it.

 

[Josemendez]

I think so if the government knows that they rate at which Bitcoin scam has reduced, many countries will allow the use of cryptocurrency in many of their business transactions

I believe they are aware of this , they are just reluctant to allow it's full operation simply because they can not be able to control it fully. They fail to realize that regulating it will beneficial to them

 

[Richard92]

Despite the Internet fraudulent activities on biticon I think there are security put in place to protect Investors from been scammed of their money, but I think more should be done.