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There may never be complete security with cryptocurrencies

  • Thread starter Thread starter BrolySSJ
  • Start date Start date
Yes, I quite agree with you. This is the more reason some Countries even place a ban or find it difficult to accept Crypto currency in their dealings.
 
Nothing is 190 Percent secured in this world,we live in a world of possibilities,even with the seed phrase and all I believe there is a way around
 
Because of the nature of cryptocurrency and how it was a created I think it will be almost impossible for people to create a fake duplicate content of bitcoins or to even hack the blockchain ledger, as I read about cryptocurrency it will be impossible for this to happen even in the future.
 
Even at that. We don't have to worry. There is nothing we can do about that. Allowing the fear of the unknown will get us nowhere if we want to succeed.
 
Yes, i agree with you that crypto currencies will always be vulnerable to hacks since it's an online platform. Crypto currencies will also be vulnerable to scammers.
 
When it comes to the online world, anything on any platform can be used for hacking. I agree that it is vulnerable for security breach and have the possibility to be used for criminal activities such as hacking. It is difficult to protect something that isn't physically seen or have like cryptocurrencies.
 
I understand what you are trying to say even me sometimes I really think this way.. i believe this may not be possible because of what we call cryptography, you really have to extend your knowledge and research more on cryptocurrency and blockchain technology as a whole.
 
The poster is absolutely correct. No online platform is safe especially these days they will always have the issue of wallets being hacked. That is the reason why most traders prefer saving their coins in offline wallet at least to minimize the risk of being hacked.
 
Price volatility, tied to a lack in inherent value, is a major problem, and one of the specifics that Buffet referred to specifically a few weeks ago when he characterized the cryptocurrency ecosystem as a bubble. It is an important concern, but one which can be overcome by linking the cryptocurrency value directly to tangible and intangible assets
 
There are many scammers in the crypto currencies business, I prefer to use my hardware wallet than software wallet because many scammers can hack a software wallet and steal all the valuables.
 
It all depends on the cryptocurrency wallet you use. Some wallets I'm familiar with are extremely secure, employing Google verification and other security mechanisms to keep users' cryptocurrency safe from hackers. Users must be cautious as well, and must not share a wallet with anyone.
 
I've always had this thought as well. Since the blockchain was created by someone, how about we just wake up and see the blockchain destroyed? Especially as the originator of Bitcoin isn't known
 
The cybercriminals are on top of their game to hacking the major exchanges. This is the reason why the exchange should keep updating their security apparatus every time.
 
I still Believe cryptocurrency is secured to some extent, even if cryptocurrency would be hacked, it might definitely takes a lot of time, so many works are to be done to be able to duplicate and create fakes cryptocurrencies. This may never be possible.
 
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