Q: please convince me that BITCOIN is REALLY SAFE. it all seems so vague.
Bitcoins can never be 100 percent safe. Nothing is, anyway. Because of its digital nature, we should keep in mind that there will be chances of technology breaches (like what happened to Mt. Gox). It has also already been said earlier that cryptocurrencies are not controlled by a central monetary authority, hence there is practically no regulatory body that can ensure its protection. Cuneta, whose business is trading bitcoin, had once been scammed. So he advises to only buy bitcoin from exchanges licensed by the Central Bank. “Make sure you don’t go to unlicensed exchanges. Very soon dadami pa ang mga Bitcoin exchange. Maraming nag-a-apply for license sa ngayon so as we see it, lalaki nang lalaki pa ang industry.”