Does Bitcoin need more safety nets?

[Grant]

With bitcoin or any cryptocurrency, there is some risk with them all. I ask, because I heard that bitcoin and other currencies don't have the best security surrounding them. Say you paid in bitcoin for something. I heard that sometimes you can't get that money back, or bitcoin back. Once you send it to someone, there's like no recourse for getting it back. Is that true? I haven't really used Bitcoin to buy anything, so I don't know. I just save right now.

 

[mcjerry]

With bitcoin or any cryptocurrency, there is some risk with them all. I ask, because I heard that bitcoin and other currencies don't have the best security surrounding them. Say you paid in bitcoin for something. I heard that sometimes you can't get that money back, or bitcoin back. Once you send it to someone, there's like no recourse for getting it back. Is that true? I haven't really used Bitcoin to buy anything, so I don't know. I just save right now.

because the payment with bitcoin is not reversible does not mean that bitcoin is not secure. Bitcoin is more secure than the most secured payment processor PayPal

 

[Setho]

The security that has been placed around bitcoin to me is already enough and what it needs right now is just much more awareness for people to be able to stick to it more.

 

[Bousine123]

Yes bro you are correct. There is no way of getting it back. That is why you need to be more careful in your transactions. Avoid costly mistakes. That's why it's been used mostly for scams because it's untraceable.

 

[Sotherefore]

Generally bitcoins is a decentralized blockchain technology and I believe they have one of the biggest security system maybe is not how they will be able to hack the blockchain technology.

 

[tuna89]

Not just btc but crypto in general, for countries who have adopted them as legal tender, I am sure these are some of the things they would have worked - safety and tracking of transactions.

 

[Heatman]

Exactly - what I've been saying about cryptocurrency but it is not something that is very easy to do because if the reverse we are the case, a lot of people would have billionaires by now. And if the security of these coins aren't upgraded often it will be prone to hacks.

 

[Kelly5]

Yes I do believe that the Bitcoin need more safety nets to keep it from being hacked by hackers. There is a way that they can hack a Bitcoin using some browser techniques that you won't know you're being hacked. So there is need for more safety nets

 

[Stylex]

thats a nice question ,yes of a true bitcoin needs safety nets .and also bitcoin need more safety nets to keeps it safe from hackers ,you know bitcoin might be hacked through various ways bit by the use of net you can secure your bitcoin

 

[FreshKaz11]

I don't think bitcoin needs any more safety net rather than the one the coin has at the moment because no hacker could break into it to say he or she wants to hack it so I don't think bitcoin news has any more safety net though.

With bitcoin or any cryptocurrency, there is some risk with them all. I ask, because I heard that bitcoin and other currencies don't have the best security surrounding them. Say you paid in bitcoin for something. I heard that sometimes you can't get that money back, or bitcoin back. Once you send it to someone, there's like no recourse for getting it back. Is that true? I haven't really used Bitcoin to buy anything, so I don't know. I just save right now. ain't

 

[btaliat]

There is nothing without its lapses. The fact is that crypto is not that secured but there are some mechanism to be put in place by individuals to safeguard their wallets.

 

[joy101]

That is true because that is why when doing transaction one need to be very careful so that you won't make mistake, that why you really need to be very careful.

 

[Senator]

If you're thinking that the Bitcoin is very safe or very airtight form hacking now, you might be mistaken. Because there is nothing that can't be hacked giving it time and advanced technologies

 

[kayode10]

I don't think bitcoin need more safety net because it has been decentralized which makes it pretty much hard to penetrate from unknown source. You just have to make use of secure wallet for your Bitcoin.

 

[Heatman]

I don't think bitcoin need more safety net because it has been decentralized which makes it pretty much hard to penetrate from unknown source. You just have to make use of secure wallet for your Bitcoin.

Yeah, this is actually true but doesn't really mean that anything should be allowed to have a loophole that scammers can be able to exploit and actually steal people's cryptocurrency investment.

 

[Setho]

There have been rising complaints about people claiming that their bitcoin wallet were being hacked. It will be very good if the Bitcoin network can make it more secure.

 

[Oliver4smile]

Bitcoin wallet being hacked!! Is that only from Bitcoin or also from the wallets, I think crypto currency wallets like Trustwallet, Hotbits and others also need to improve their security, you can correct me if I am wrong.

 

[Heatman]

There have been rising complaints about people claiming that their bitcoin wallet were being hacked. It will be very good if the Bitcoin network can make it more secure.

Seriously, the complain about this act of cryptocurrency wallet hacks have been increasing on daily basis and it's why users are advised to make use of trusted crptocurrency wallets.

 

[Suba]

Until now Bitcoin is very safe, no one has ever been able to hack the Bitcoin blockchain, once you click send Bitcoin it cannot be changed because it has been sent on the blockchain waiting for the confirmation process, so it is impossible to reverse it.

 

[tyrim88]

The whole essence of the cryptocurency and blockchain technology is that it is a decentralise network of doing transaction,e-payment,virtual transfer and fiat in some aspect.That is the reason one need to be very careful with the address he is sending the coin to.