Q: please con­vince me that BIT­COIN is RE­ALLY SAFE. it all seems so vague.

FHM (Philippines) - - CRYPTIC MONEY -

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.”

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