Digital money can be wiped out with the push of a key. Fools.
So a Bitcoin exchange was hacked last week and now they are saying that it might not ever be recovered.
People lost 36% of their Bitcoins estimated at $65 million.
Bitcoin owners targeted by hackers last week may lose about 36% of their money.
Do you really believe that your investment is safe anywhere except in food and precious metals?
When Deutsche Bank crumbles and the entire system fails, it will be the only "safe haven".
Deutsche Bank Falls Short Under Goldman’s Take on Stress Tests
There is no guaranteed safe investment. Even precious metals and food are subject to external forces that you cannot control. In the case of food, pressures caused by droughts, poor yield, blight, and others can dramatically impact the value of your assessment. While these are much less likely to be the result of actors, it doesn't change the fact that they can happen.
With regard to precious metals, your investment is theoretically safer if you've invested either directly in metals and hold them yourself in a secure facility, or you have partnered with a firm you trust to manage your assets. However, in both these cases, there is still the risk of individual actors or groups of actors taking your wealth. It's simply done using analog methods, rather than digital methods.
Ultimately, the safety of your BTC depends entirely on you, and it is not 100% safe. However, it is significantly more resistant to external market forces like inflation and devaluation. As far as currencies go, that's really the major selling point of BTC.
Been in this bullshit for more than 15 years. I kind of know what I am talking about.
Crypocurrencies are a joke. Just look at what happened to Delta yesterday. http://www.bbc.com/news/world-us-canada-37007908
Even if your local store took them, you are not going to be any better off than the EBT recipients in an emergency situation. Appreciate your reply, but I will never get caught believing in them, better off holding heirloom seeds. . . .
I mean, I'm not making any claims that they're foolproof, but they're at least far more resistant to inflation given their decentralized nature and the high threshold for hacking a blockchain to generate currency. What I think, for what little my two cents are worth, is people are projecting unrealistic expectations of security and privacy on this technology. Hell, I did too until I started to learn more about it.