If you had to choose between faster transaction time and security/privacy what would be your choice? - For Beginners - CryptoTalk.Org Jump to content
lharost

If you had to choose between faster transaction time and security/privacy what would be your choice?

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For me I prefer the security for sure ! Because my money are safe ! 

Speed is not really important for me but I think that there are many platforms which contains the two features ! Like Binance , Yobit , Hitbtc 

With those platforms you can get money in fast way and it's for sure secure

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Sure i would choose security at first and i would like to use it for mine normal uses. As the privacy is the thing to be matter and cared about in today's date. But if it's too slow then sure for normal people it would be headache if they don't care about privacy. So it depends upon the users requirements. For me personally privacy and security are at the top things to matter.

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NOTHING I SAY IS FINANCIAL ADVICE. YOU SHOULD USE YOUR MIND ,FOR YOUR MONEY,

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Doesn't matter how much time will take for my coins to arrive in my wallet, i will still choose security! Fast transaction without security is risking your money that you work hard to earn it.

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Time is the ultimate weapon!

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I would prefer security and privacy because security is at first if there is no security then we can lose all the money during fast transactions. For, I would go for security and privacy.

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In my opinion we need both security and fast transaction, because some times immediately do transaction that time we can't wait for long time to confirmed our transaction, so i prefer ripple coin because this coin have both abilities to solve our issue.

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Well privacy will be the choice of 99% people. Because if you have the coin then only you can opt for a transaction.  So privacy is my choice. In my suggestion their are many insurance for our crypto assets, so we can have our assets safe. And always keep a distance from fake , scam users.

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7 hours ago, lharost said:

In crypto space we have some coins that gives you faster transaction speed but some of them might not have the best security or privacy features while there are also some other coins that offer security or privacy but they are not as fast.

 

What would your choice be if you had to choose only one between fast transaction speed and security/privacy?

Between the two, for me  security and privacy are much important, so I will go with them. It is nonsense if you will choose fast transactions over security and privacy. If you do, then your funds are on great risk. You can't use that fast transaction if your funds are stolen. So it is better to choose security over speed.

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There is a debate on this happening since the early days of Bitcoin. In fact right after the initial Satoshi email a cryptographer (I don't recall the name and couldn't find the email right now) responded that this system won't be able to scale.

Vitalik Buterin called this the scalability trilemma. This is the problem of having both scalability (speed), security and decentralization on the same high level. You can have 2/3 but right now not all. 

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Always choose security and privacy because these are the priority when having cryptocurrencies. 

What's the purpose of fast transaction when it's lack of security, we will only end up losing amount if we choose that. 

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I believe the everyone wanted both but right now it is quite difficult to look for sites that is offering both (security/privacy and fast transaction speed). If given the chance to choose between the two; I prefer sites who are protecting the privacy of the users but not fast than a site that offers faster transaction speed but does not protect it users, though both have its own pros and cons. All in all, I will still choose privacy/security than fast transaction speed because it is alright to wait for the transaction to finish than to risk your own security. 

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Of course, I will choose safety and privacy in cryptocurrency transactions, I have no problem with the time the currencies reach my wallet even if it is a little late, the important thing is that the transaction be safe

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I think you are familiar with Ripple Network and Stellar network both are fastest as well as provides the top ranked security too. Within a few second, you will be receiving either of these cryptocoin. I really expect Bitcoin to be like XLM in the case of transaction speed as well as the security aspects. Hopefully, lightning network will come up with such feature with extreme security in the near future for BTC 😊

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On 7/12/2020 at 5:50 PM, Izeal said:

I would prefer security and privacy because security is at first if there is no security then we can lose all the money during fast transactions. For, I would go for security and privacy.

I will also choose secured and privacy than fast transactions with lack of security because I want to prioritize he safety of my currencies than trusting unsecured transactions. 

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For me I would choose security and privacy over faster transaction because I don't like things go fast without assurance that it can go well and for me to keep my money here in safe that no one can get it. However it is going to be a slow transaction it is okay as long that I know that my earnings are safe and in private I am okay with that.

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In my opinion, both fast transaction speed and security / privacy is important to us but if I have to choose between them I will choose security / privacy.

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Indeed you raised an interesting topic for discussion for the fact that both are important, but I will go security or privacy because in anything you are ought to do security come first before any other things. You know it'ss is issue of funds 

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For me i will use the most lowest fee and the fastest transaction because i have a phobia about dopt, if the transaction take more than 3h i start panic and i will do some bad action like sending tickets to support and maybe cancelling the hall transaction if it's still possible  before it goes to blockchain. So the best choice is the second one fast transaction is the most used not by me only but 98% of users because we all know about the hidden risk.

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Can't we be a bit greedy here and choose both? 🙂

 

But if I'm really stuck with two choices, my answer will depend on the amount of currency I am attempting to transact. If I am going to deal with only a few dollars' worth of crypto coins, I'd go for faster transactions with minimum security. But if I am dealing with a significantly huge amount of money, then screw the transaction speed, I'd rather have it transacted on maximum security.

 

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I would choose privacy, because I think that this is the goal of crypto, to be private in what you do and i think that anybody can wait for about 1-2 hours without having any problem.

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I would always choose security over payment/transaction speed for the simple fact that this is money that you are dealing with, and i would rather the transaction take longer and know that it will safely get to the recipient rather than immediately going to the recipient with the possibility of the transaction being hacked and losing all of my funds. this is especially true when it comes to larger transaction, as security becomes increasingly important with larger sums of money. The key is to find a coin that is able to provide both of these features for you and that is the key to a successful crypto. 

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Time and speed don't matter, best safety
Using safe currencies will ease your peace of mind and rest
What do I care about speed if it is not safe?

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I think that security and privacy should come first, because we are very exposed and without security and privacy we are at risk. Time is nothing when you can have losses by not having the patience to wait.

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There are many altcoins with new blockchain features and transactions speeds and rate of innovation is so high. it is hard to know what coin is ahead of others at what time and on what terms. But Nanos' transaction speed is very fast and can be the fastest. Although NANO's transaction processing speed is fast and free. But we should not invest 100% in this coin.

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On 12.07.2020 at 12:11, lharost said:

In crypto space we have some coins that gives you faster transaction speed but some of them might not have the best security or privacy features while there are also some other coins that offer security or privacy but they are not as fast.

 

What would your choice be if you had to choose only one between fast transaction speed and security/privacy?

I am not an expert in security, but crypto do already have strong security, so why should you be afraid of being unanonimed?

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Thanks to cryptocurrency ETFs, they can easily include bitcoin (and soon Ethereum) in their investment portfolios.   According to analysts, around 700 investment companies have already invested in such funds. Nevertheless, the share of institutional investors in bitcoin-ETFs is currently only about 10% of the total. Motley Fool estimates that if financial institutions invest about 5% of their assets in bitcoin, the market capitalization of the first cryptocurrency could exceed $7 trillion, which explains its forecasted rate of $400,000.   Considerably less optimism was heard in the forecast of Bloomberg senior analyst Mike McGlone. According to him, bitcoin's volatility leaves it trailing gold and the US dollar in investment appeal. Furthermore, he believes that stocks will soon crash amid the expected recession, but BTC will suffer even more than the stock market. McGlone emphasized that the Tether (USDT) stablecoin, pegged to the US dollar, typically trades twice as much per day as bitcoin. "I can access the US dollar anywhere in the world from my phone using Tether. Tether is the number one trading token. It's the number one cryptocurrency for trading. It's the dollar. The whole world has moved to the dollar. Why? Because it's the least bad of all fiat currencies," the Bloomberg expert stated.   While Mike McGlone merely downgraded bitcoin's attractiveness, Cardano founder Charles Hoskinson simply buried it. He equated bitcoin to a religion and stated that the industry has outgrown its dependence on it. According to Hoskinson, "the industry no longer needs bitcoin to survive." He pointed out critical threats to the leading cryptocurrency, including insufficient adaptability and dependence on the Proof-of-Work algorithm. Franklin Templeton analysts, on the contrary, consider L2 protocols, along with Ordinals, Runes, and DeFi primitives, as one of the main drivers of bitcoin's innovation revival. Strike CEO Jack Mallers defended the first cryptocurrency. According to him, the Lightning Network, created for instant and cheap transactions, a second-layer solution based on the BTC blockchain, can further increase the demand for the first cryptocurrency. Mallers believes that thanks to this, bitcoin can be used for everyday purchases, such as paying for a cup of coffee. Former BitMEX CEO Arthur Hayes called the native token of the Cardano blockchain (ADA) "dog shit" due to its low use in protocols.   As of the time of writing this review on the evening of Friday, 31 May, ADA is trading at 0.45 USD per coin, while bitcoin and Ethereum are faring significantly better: BTC/USD is trading at $67,600, and ETH/USD at $3,790. The total cryptocurrency market capitalization is $2.53 trillion ($2.55 trillion a week ago). The Bitcoin Fear & Greed Index remained almost unchanged over 7 days, staying in the Greed zone at 73 points (74 a week ago).   It should be noted that ETH/USD failed to break through the $4,000 resistance this past week. The local maximum was recorded on Monday, 27 May, at $3,974. The lack of an immediate pump is explained by the fact that everyone who wanted to buy Ethereum in anticipation of the SEC's historic decision already did so. Meanwhile, according to some analysts, there is a high probability that immediately after the launch of the long-awaited spot exchange funds, Ethereum will enter a deep drawdown, similar to what happened in January with bitcoin. Then, over 12 days, it fell by 21%.   One of the key reasons for BTC's drawdown at that time was the unlocking of GBTC fund assets from Grayscale, which was converted into a spot fund from a trust. It began losing investments daily at a rate of $500 million. It is possible that something similar could happen with Ethereum, where Grayscale's ETHE fund holds $11 billion worth of ETH. As soon as this fund is converted into a spot fund and its assets are unlocked, short-term investors might start taking profits, potentially causing ETH/USD to fall to the strong support zone of $2,900-3,200. Pessimists among bearish factors also cite the uncertain legal status of the altcoin, as the SEC has not yet clearly defined whether ETH is a commodity or a security. Additionally, the regulator has many complaints about the staking program.   Staking is a way to earn cryptocurrency by "locking" a certain amount of coins in a wallet on the Proof of Stake (PoS) algorithm to support the network. In return, the user receives rewards in the form of additional coins. According to Wall Street legend Peter Brandt, "the biggest disasters in the cryptocurrency sphere that are yet to happen will be related to staking." The expert noted that such assets as Ethereum are often rented out to earn such income, often in the form of interest, which strongly reminds him of collapsed financial pyramids. As staking becomes more widespread, Brandt warned, it could attract increased attention from central banks, treasuries, and other authorities. This could lead to tighter regulation, significantly altering the crypto space and potentially resulting in the cessation of staking and bankruptcies for those involved. NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
    • Даа, кроме нас на форуме остались рекламщики обменников и все). А у вас было монета not, он очень хорошо вырос. Надо было покупать сразу после листинга. Даа, упускаем моменты). Биткоин продолжает коррекцию делать, а я купил какие то щитки и вынужден ждать. 
    • Крупный банкир получил тюремный срок за криптомошенничество   Бывший инвестиционный банкир Рашон Рассел приговорён к 41 месяцу тюремного заключения за мошенничество с использованием цифровых активов. В результате расследования правоохранительные органы США выяснили, что обвиняемый начал опробовать свою мошенническую схему на друзьях, бывших одноклассниках и коллегах по работе в криптофонде R3 в ноябре 2020 года. Рассел обещал им гарантированную доходность инвестиций от 25% до 100%. Чтобы его слова были ещё убедительнее, он пустил в ход свой опыт инвестиционного банкира и сфабрикованные документы (поддельные счета, переводы). Сначала он использовал часть полученных обманным путём средств для выплаты долгов более ранним инвесторам. Остальные деньги Рассел тратил на азартные игры и поддержание роскошного образа жизни. Такая мошенническая схема работала до августа 2022 года. В апреле 2023 года Рашона Рассела арестовали, а в сентябре он признал свою вину. Тогда же выяснилось, что Рассел незаконно приобрёл около 100 кредитных и дебетовых банковских карт на имена других людей. По мнению следователей, он планировал использовать карты для проведения транзакций с полученными незаконным способом деньгами. Минюст США подсчитал, что потери инвесторов от мошеннической схемы Рассела составили $1,5 млн. Именно эту сумму подсудимый должен выплатить своим жертвам в качестве компенсации. Источник - https://ru.investing.com/news/cryptocurrency-news/article-2428894
    • CryptoRank поделился списком крупнейших разлоков июня.        Будьте осторожны в отмеченные дни, ведь увеличение предложения может вызвать давление со стороны продавцов. ARB — $105.21 млн;APT — $103.03 млн;UNI — $87.93 млн;STRK — $75.67 млн;DYDX — $66.3 млн;SEI — $63.81 млн;ID — $55.82 млн;IMX — $54.96 млн;MERL — $42.21 млн;ENS — $36.65 млн.  
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