Banks vs Blockchain technology. Where is safer for money savings ?

[Arvind Arvy 43]

Banks vs Blockchain technology. Where is safer for money savings ? That was a cool post, I think bank is most safer then blockchain because we have heard about the scamers . scammers can easily hack your blockchain account with technology but backs can't

[Ch Ayyan 9781]

Crypto  is very good  and it could be campare with  gold. But  the one thing is not good  that there is chances loose our electronic  wallets by scammers and hackers.  Crypto  currency should  be more secure  and safe.

[SuperCrypto 7193]

Brazilian banks will implement a new standard identity solution, using Hyperledger Fabric-platform-backed blockchain technology, where the identity solution, developed by IBM and the country's central bank CIP, will be integrated into the Brazilian Payment System (SPB), a system used by all banks and financial institutions in the country .

[PiroSense 2681]

On 12/20/2019 at 8:31 AM, Michal said:

So why do they compare investment in it as in gold?

They compare Bitcoin to an asset like Gold because of their similar supply principle. Bitcoin has a limited supply, 21 million coins, only yet to be "mined". Similar to gold, which is a non-renewable resource, cannot be produced by humans, and has only limited amount on earth.

 

This similar supply principle makes them quite "scarce".

 

Though it all still depends on the demand that investors want to pay for the asset (Bitcoin or Gold). In which case, the bubble happened since almost all holders want to sell their coins immediately (since they can see them of no real use other than as a speculative asset).

[Zezo 306]

Yes, the price of bitcoin fell in 2017 momentarily, but now it has more than doubled. I think they likened bitcoin to gold because it could not be executed and because it will be essential in the future. As for the rise and fall of its roughness, it is like any trade.

[Ali_hmwi 966]

We can't know until the halving that will male us more sure about the bitcoin but of course gold is good for the future but bitcoin need time to know more..

[Efs 164]

If you know how to keep a cupboard in your house safer than all of course. Unfortunately, there is no such thing as reliable money storage.

[SuperCrypto 7193]

Banks classify cryptocurrencies as electronically stored currencies, not denominated in any of the currencies issued by the official currency-issuing authorities, and are traded over the Internet and are not secure.

[Nakamoto 279]

If you talk about security, Blockchain is the safest place to store, but still, the bank has to secure coins in a cold wallet. They also need to secure their endpoints. As a crypto bank customer, you must also pay attention to the price of coins because the price continues to change.

[raja786 8]

On 12/20/2019 at 8:03 PM, Opinder said:

Banking system is safer than blockchain system to keep your money because in blockchain your account can be hacked easily and you will get nothing but in banking system bank provides you full security and if your money tansferred to other account bank can take that money back.

well I agree although blockchain is safe but there is always risk of hacking.but in bank there is no risk of security our money is safe always. so I suggest bank are best .

[MrGeany 297]

well today bank provide more security and also some insurances thac guarantee that you won't loose your monay, bu i think the feature is blockchains and i think banks will start using is very soon.

[SuperCrypto 7193]

The blockchain is decentralized and its financial data have no center for its penetration, in addition to that the data is distributed in the form of a series of blocks encoded from one block to another with complex mathematical equations where each block is stored issued completely different from the other which increases the matter complicated and is required more secure from banks.

[Mercello Blyat 21]

Blockchain technology has transformed the banking sector by combining shared database with cryptography, smart contracts, and digital payments. Learn use cases of blockchain technology in the banking system that allows multiple parties to secure transactions.

[sovon1122 0]

The blockchain will allow bank transactions to be carried out faster and cheaper.Higher technology and the human intervention minimized. 

[Whited35 15285]

Hello dude, Blockchain can never be safer than the Bank for saving the money for a very long time. In the cryptocurrency world , nothing for sure whether this technology lasts forever or not. But bank will be always there for you. And the secured too. 

[iloveyobit 6599]

I think it is difficult to choose, each person who has his own opinion and the place in which he will put his money, who thinks that the blockchain has a high level of risk will choose the banks and vice versa like that.

[George10 9932]

When choosing where to save your money in between a bank and blockchain technology I suggest a bank to be much safe because your money there will be intact without even losing a single coin even after many years unlike in crypto where your money can drop to zero and lose all of it although it is profitable sometimes but it is risk.

[CryptoMaxim 3829]

Whatever it was. I believe this development of cryptocurrencies is taken into account. I think storing Fiat in banks is safer.

[Captain Karim 0]

You are right, and this crisis that passed assured us that the majority of users trust only gold and do not trust anything else, all the money went out of all markets and went towards gold to be considered a safe haven.

[ComeBackIsrael 185]

I think that in none of these options, banks very often hack accounts, and the cryptocurrency is very unstable, it is possible to buy a stable cryptocurrency is the best solution for saving money.

[Brushless4500KV 4214]

Any monetary system can be both safe and unsafe in particular conditions. There is nothing 100% safe because history has shown us that both systems couldn't provide full protection against frauds. The only difference is that if you lose money in banks, there is always a third person who can listen to your complaint and probably look for criminals to give your money back but this is not possible in blockchain systems which are completely centralized. It is hard to believe that some people still keep paper money in their homes because they don't trust banks!

[Mishu1234 101]

I think banks are safer  for money saving than blockchain technology because it is difficult to hack anyone's bank account but easy in blockchain technology    

[Babubu609 0]

To my opinion I think banks deliver us safety and assurance to save our property than the blockchain technology which is secure for the those who put money into cryptocurrencies

[Babubu609 0]

To my opinion I think banks deliver us safety and assurance to save our property than the blockchain technology which is secure for the those who put money into cryptocurrencies

[Bruno52 1141]

I think blockchain is safer for money savings because banks can get robbed and your money can be stolen in banks while blockchain is very secure and can be rarely attacked by scammers and hackers due to its high level of security.