Does Bitcoin need more safety nets?

[harrypaul]

Bitcoin payment is not reverseable but it is highly secured.
In your local banking system, you can contact your bank institution to make a reversal if there was a mistake during the transaction, but that is different in the Bitcoin block chain, because there's a lot of transaction happening in a given time.
So the best way to secure yourself from losing you money is to be sure of the address your are sending to.

 

[Sotherefore]

You should have done research to ascertain that this information is really true about bitcoins not having the best security system. for me personally I don't really think so since it is still very difficult for people to hack the blockchain ledger.

 

[Ceeny007]

I feel that the current security around it makes it safe enough and it doesn't need more but we know there are some people who won't listen

 

[Dagm1]

Indeed I perform think that the Bitcoin require more safeguard to always keep it coming from being actually hacked through cyberpunks. There's a manner in which they can easily hack a Bitcoin utilizing some web internet browser methods that you will not understand you are being actually hacked. Therefore there's require for more safeguard

 

[Blessedsam60]

Not only bitcoin, all crytocurrencies. It's just like your normal bank transactions, if you wrongly send money into someone account then that's all. The slight different is that for bank, you can actually trace the receipient account number but crytocurrency own will be difficult

 

[Shigobad2020]

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.

Yes , i don't think bitcoin has a bood safety nest because I have witnessed someone sending bitcoin to a wrong bitcoin wallet address and that's all, you can't get a reversal even if you lodge a complain.

 

[Setho]

For now bitcoin we really do a lot with safety-net because so many people have been complaining about their wallets being hacked. It will be important to at least add an extra layer of security.

 

[Elfinito]

Bitcoin doesn't have such security backup that would retrieve a wrong transaction like the local banks.
That is why you have to be sure of the address you are sending your crypto before you engaged in any transfer.
A Bitcoin sent to a wrong address is gone, and it is same with every other crypto currency

 

[Setho]

On a personal perspective I do not think that the security of Bitcoin is that bad was there many people have been complaining that hackers have been getting their coins

 

[Sotherefore]

On a personal perspective I do not think that the security of Bitcoin is that bad was there many people have been complaining that hackers have been getting their coins

This is not because of bitcoins as a whole it is because of the cryptocurrency exchanges or wallet the person is using in storing crypto-currency .it is always necessary to enable two-factor verification.

 

[Ub40]

It is true that you cannot recover any coin sent to any wrong address. It means that one has to be extra sure of the address before sending coin. I know once in a while people are bound to do mistakes, but what can we do, it is just the way it is. With the high level of technology these days, I have this feeling that some day there may be a remedy to it. It is just my opinion.

 

[Shigobad2020]

For now bitcoin we really do a lot with safety-net because so many people have been complaining about their wallets being hacked. It will be important to at least add an extra layer of security.

Bitcoin and other crypto currency need more than a safety net which can protects peoples wallet because there are hackers everywhere hacking into people bitcoin wallet and doing away with their hard earned crypto currency coin.

 

[Jhayms07]

Yes I feel there is still little to be done as regards the security and all of that. I recently heard of how some Bitcoin wallets were hacked

 

[Kelly5]

Of course there should always be room for some improvement of some sort when it comes to th Bitcoin or any cryptocurrency wallet for that matter. There should be a Way to disallows hackers from accessing your wallet remotely

 

[Sotherefore]

To me I am okay with the way bitcoins is operating because there is nothing wrong with their operation and I believe that they are also secure ,if they are not secured a lot of people could have hack into the bitcoin's blockchain.

 

[ahmedo24]

For now bitcoin we really do a lot with safety-net because so many people have been complaining about their wallets being hacked. It will be important to at least add an extra layer of security.

it depends on the nature of the password people are using and the kind of wallets that they are using is also very important and also people that use or expose their wallets through airdropping can easily get their wallets been hacked

 

[Seno inyang]

There should be provision for more security nets due to the turn out on daily basis.

 

[Aaron625]

Yes I feel there is still little to be done as regards the security and all of that. I recently heard of how some Bitcoin wallets were hacked

Those are the exceptional Bitcoin wallets which have low security and hence are more vulnerable to the threats and hacks. But the technology of blockchain and crypto is overall very secure if you start using official and trusted crypto wallets.

 

[Ezekiel]

With the high amount that Bitcoin what I how come is it not secured I doubt that it is not secured,some one told me it is irreversible but very much secured

 

[Justin]

The only improvement I think Bitcoin needs is improving transaction speed and decreasing transaction cost. Bitcoin is already safer than most of the crypto currencies.