I personally don’t like Bit coin because of the digital aspect. I think it would be too easy for a rogue hacker to break into your account and reduce whatever cash assets you might have to zero.
At least with paper money, if somebody wants to do that to you, they have to do it with everybody, so there’s a bit of inherent protection when dealing with cash.
There is no “account” really...your Bitcoin is stored in a file called the “wallet” that you can encrypt and store on a flash drive if you want. Stash the flash drive somewhere & don’t tell anyone your encrypted passphrase. Here is a “high caliber” USB flash drive for it: http://www.nrastore.com/nrastore/ProductDetail.aspx?p=HO+603&ct=e
Bank accounts are hacked all the time.
The difference is that you are insured by the government and banks keep the hacks very quiet.
No more so than they could access your actual bank account.
Remember that digital currency is based on large prime numbers, something that even the most powerful of desktop computers could not churn out in a reasonable time. Digital currency leaves a trail if you know how to find it. Further, it cannot be counterfeited. If you can prove you owned a specific currency code, the money can be reimbursed immediately in the case of theft, but it's unlikely that theft would happen right away.
The biggest vulnerability with BitCoin is its volatility as a market currency. Anyone using it would be best served to wait to buy something when the currency is worth more and save while it's less. It's really a very real-time type of currency compared to what we consider "real money."
You can turn your bitcoin(s) into a paper format that is locked with a password, keep it hidden at home or in a safety deposit box until you need it. It remains in your possession just like a dollar bill.
No one can steal it off the internet - because it’s not on the internet.
AND, you can keep multiple copies hidden in different locations. Unlike your dollar bill, of which there is only one - of each.
But you sure better record your password somewhere because without it your BC is unuseable........
You don’t think a rogue hacker could break into your home system and steal your bank info? Happens all the time.