Topic: Downsides to crypto - page 2. (Read 3308 times)

And most of the government will not allow that, they will not consider things that they won't benefits from it, if ever such government can implement rules or a laws that put them at the top and gain control then for sure it won't be that hard to them to adopt this system, it is the implementations of something that can give them power to rule this chain..

I think Crypto's main weakness is that there is no guarantee from anyone. This wallet is susceptible to hacking, bitcoin shipping cannot be canceled so a typo is lost, the price goes up or down very large because it cannot be intervened by anyone, forgetting the wallet code makes bitcoin lost.

yeah, it's one of the negative side like that, besides cryptocurrency users are very difficult to track. that is why some countries do not like cryptocurrency.

plus, the price is very difficult to guess, someone could lose or get billions of dollars in just a short time in his wallet.

Probably the downside of cryptocurrencies is that it is unregulated. Once the developers release these in the wild market, it's free for all to mark the price of it. Just like bitcoins, it was just mere cents before and now it scaled to tens of thounds of dollars.

    Every country has it's own currency to be used offline for daily living. Bitcoin is a digital currency that always need internet connection in order  to use and operate. It is just a good investment online. Also it has a lot of downside like anonymity,volatility and internet. It can also easily use in any bad doings like crime,drugs,money laundering and tax evation because it is deentralized currency in which government has no full control of it.

I think the downside of crypto is that it cannot access by anyone because we all know that crypto was operate by means of technology , there are places that connection with  internet is absent so if crypto will be digital  currency it may take a long process and if course the important is also the acceptance by everyone.

I don't think that bitcoin will be the world's currency, but if that happens, that will be a big adjustment for all of us, especially for those businesses that do not really need cryptocurrencies, but why not? Bitcoin can develop its coin. After all, we can all adjust with that. Or maybe we can still have our current currencies and at the same time having bitcoin all over the world because cryptocurrencies are the fastest way to transfer money, pay bills and many more.

if that happens, of course government has thought about it. of course government formed an organization from all over the world to overcome it. if for fluctuations, i think it will still happen

if bitcoin becomes the world currency, I think the disadvantage is that bitcoin supply will run out faster, because if it has become a world currency, of course everyone will go bustling to find and own bitcoin. if it's like that then bad things will happen soon in relation to prices that will not stable

the loss of either investing in bitcoin, altcoin or in crypto. I think it's normal, bro. but we must have a positive view so that we can benefit from bitcoin and have a good future

In my opinion, the downside of the crypto market is that pre-encrypted investments can be high risk.The market value of a type of market fluctuates unlike other asset classes.Because the market is out of control,it is outlawed in some jurisdictions and pre-coded trading platforms can always be vulnerable.

of course a fraud is difficult to destroy from the cryptocurrency world because crypto has an anonymous nature so that everyone can use it in crime without us knowing the person's personal data. but we can prevent it with security that is very guaranteed and always careful or careful so that we are not easily deceived.

no, I don't think it will have any downsides because the number of  coins will be limited no one can make more coin everything will be in control

All the currencies had both positive and negatives if the past you being higher than negative then it will be the perfect kind to make demacia worldwide currency that's why cryptocurrency is had all the features especially Bitcoin had huge thoughts about that I hope it will be works soon.

Of course, it’s disturbing that someone has sneeze somewhere and the market reacts so strongly. It is clear that many factors, including purely speculative ones, have an impact, but I want to believe in a mature market that is more attractive to long-term investors. On the other hand, on the same Forex on the threshold and on the release of the main news, there are also big fluctuations. After all, the main thing for us is that the negative news and events on Bitcoin are absorbed by the market and do not break the main trend and growth trends.

Bitcoin has a decentralized nature, and I think this decentralization can be an advantage and also a shortcoming of bitcoin and it depends on the point of view we interpret it, and I consider it a positive thing.

If bitcoin is the world's currency, the shortage is that it is enough to just take your smartphone and make all your money disappear, but it is also sure that hackers will hijack your wallet

This post is pretty close to hitting the nail on the head. The problem with cryptocurrency as a global currency is that while the anonymity can help good people from getting hassled, it also provides a favorable environment for bad actors. And when people favor safety over freedom, they will ask for governments to sponsor and regulate crypto to catch the bad actors.

And then from there, people will want consumer protections (for example, I go to a store and buy a "new" TV that turns out to be used and broken, but I paid with crypto, so non-reversible transaction).

The problem at that point is that then the government has a lot greater control and oversight over their population than they did while using fiat currency. And at that point, you end up in a dangerous place where they can cut one person off being able to spend their funds (which can be a good thing when trying to catch a criminal, but what if you just happen to be exercising free speech that happens to offend someone in government that has access to the banlist?). And then of course the inevitable argument of what if the group in control of the government decides to go on a purge, Nazi Germany style? People could be purged based on a number of different criteria. Race, religion, income.

So you wind up in a catch-22 situation. Governments are not likely to endorse cryptocurrency unless they are government-sponsored. And people who have thought things through will likely not want to endorse cryptocurrency if it is government-sponsored.

in my opinion, the weakness of crypto depends on the market price of bitcoin. if bitcoin has decreased crypto will also experience a lot of interference. because bitcoin is one of the keys to all investments.

my thinking is the downside of bitcoin is volatility wherein it is not stable due to fluctuations and now the price is good and it can be become world currency.