Cryptocurrency Q&A
Why is Bitcoin dangerous?
Why is Bitcoin dangerous?
HanRiverWave
Sat Dec 07 2024
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7 answers
1950
I've heard a lot about Bitcoin and its volatile nature. I want to understand why it is considered dangerous. Is it because of its association with illegal activities or the fact that it's not backed by any government or central bank?
7 answers
Chloe_carter_model
Mon Dec 09 2024
One major drawback is the instability of its currency value. This means that the price of Bitcoin can fluctuate significantly over short periods of time.
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DigitalDynasty
Mon Dec 09 2024
Another issue is the lack of compensation for losses due to fraudulent transactions. This can be a significant risk for investors, as there is no guarantee that they will be able to recover any funds lost to fraud.
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HanbokGlamourQueenElegance
Mon Dec 09 2024
The value of Bitcoin is not guaranteed, which adds to its overall riskiness as an investment. This means that investors need to be prepared for the possibility of significant losses.
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JejuJoyful
Mon Dec 09 2024
Bitcoin possesses certain weaknesses that investors should be aware of.
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Starlight
Mon Dec 09 2024
In addition to its volatile price, Bitcoin's large price fluctuations can make it difficult for investors to predict its future value. This unpredictability can make it challenging to make informed investment decisions.
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