What is the risk of Bitcoin?

in #bitcoin7 years ago

43.jpg

Bitcoin is an interesting technology and a new form of money, but this does not mean the Bitcoin regardless of risk. Keep in mind that there are some rules that are the same in Bitcoin as traditional money. For example, do not store your cash under my pillow because it is easily stolen, or do not entrust your money to strangers.

Bitcoin also has other unique risks: for one man, Bitcoin is a new technology, and although it looks very solid and secure, there is always the possibility of failure. That's also why you should never enter ' all your eggs in one basket ' and don't ever buy Your treasures with all the Bitcoin. Bitcoin is more volatile (value of Bitcoin can go up and down in a short time or place) compared to other currencies, and though now the value of Bitcoin more stable, Bitcoin will surely experience a lot of volatile moments in the future come.

Remember that the transaction is Bitcoin similar cash where the transaction cannot be cancelled-so if you're submitting a Bitcoin to the wrong person, or Your Bitcoin wallet compromised and someone stole Your Bitcoin, very difficult and even impossible to take it back. Bitcoin is also not protected by any entity, so that if you lose Your Bitcoin, then your service provider or network of Bitcoin ' ' cannot replace your loss. That's why you should use a product and a trusted service provider to help you, just like when you choose bank to keep your money safely.

Lastly, the value of Bitcoin is determined by a number of people or businesses that accept Bitcoin. If the Bitcoin develops, this will be very good for Bitcoin, however if the less people using Bitcoin, then this will give negative impact on pricing and the use of the Bitcoin itself.
In conclusion, Bitcoin is a very interesting potential in changing the world, but make sure you understand the risks involved along with it

Sort:  

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by azharmaulana from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

Congratulations @azharmaulana! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Play-off for third result


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

@azharmaulana you were flagged by a worthless gang of trolls, so, I gave you an upvote to counteract it! Enjoy!!

Congratulations @azharmaulana! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @azharmaulana! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @azharmaulana! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

Award for the number of upvotes

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

SteemitBoard Ranking update - Resteem and Resteemed added

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @azharmaulana! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 9000 upvotes. Your next target is to reach 10000 upvotes.

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

Saint Nicholas challenge for good boys and girls

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @azharmaulana! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @azharmaulana! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Congratulations @azharmaulana! You received a personal award!

Thank you for the witness votes you made to support your Steem community and for keeping the Steem blockchain decentralized

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

Use your witness votes and get the Community Badge
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.24
TRX 0.26
JST 0.041
BTC 98102.63
ETH 3490.00
USDT 1.00
SBD 3.42