Topic: is crypto industry dangerous ? - page 94. (Read 5807 times)
Crypto world is dangerous as there are still a lot of unknown area, but the most dangerous part i think is people greed that makes crypto so much success.
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
If money laundering and illegal black market trade are your concerns, then yes, this industry is dangerous. The government of different countries keep banning it because they see it as a threat to the national economy and security. It makes easy for people to do illegal things since payment is made using cryptos.
As a user, it isn't dangerous. The only risky part is the high volatility and fluctuations in price.
We have both advantage and disadvantages in the crypto world, but like you said it is decentralised money our governments can't track this crypto transaction and yes many people are using it for illegal things like you said money laundering, funding to terrorist activities, saving block money in cryptocurrency, buying drugs etc. it is really affecting to the country economy and security. so if you look like this then yes crypto industry dangerous.
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
Did you mean that it is dangerous related to scams occuring these days or related to its ban or warnings?They are taking such steps as they have no control over these decentralized currency and some illicit activities are being carried out by it which can also be done with the help of fiat.So its not dangerous if used wisely and in right manner.
they are not banning it because its dangerous. china and korea banned it because they are non democratic countries that wish to control all aspects of the country. finance is a big aspect of a country, crypto threatens that control -> ban.
Cryptocurrency is not illegal, hence it is not dangerous. But, the people using it are doing some illegal activities which tainted the name of crypto. So, it will be dangerous, if yoy use it in the wrong way.
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
If money laundering and illegal black market trade are your concerns, then yes, this industry is dangerous. The government of different countries keep banning it because they see it as a threat to the national economy and security. It makes easy for people to do illegal things since payment is made using cryptos.
As a user, it isn't dangerous. The only risky part is the high volatility and fluctuations in price.
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
I think it is not dangerous but risky. Crypto trading price volatility is very evident when market goes up it seem there is no tomorrow for its price to surge and when it fall it is also so hard that almost all your earnings are gone. this are the main reasons why other countries don't want crypto because the risk that their citizen may face when they ry to invest. there is a big possiblity that they may loss their money in just a short period of time. I do not think it's dangerous, but there are some risks, but after you know yourself, I do not think you will suffer any harm, so you can invest with peace of mind
So it seems like two points being explored here: dangers of crypto and rationale for state actors to ban crypto.
On the first point, I have to concede that there truly are more dangers with crypto than fiat at this point in time simply because of the online presence and higher exposure to theft in recent times. 2017 was a record year for crypto theft. Even bigger than the 2014 Mt gox heist. 2014 had mt gox but 2017 had the CoinsMarkets debacle, Japanese exchange theft of XEM, nicehash heist, and many others. This isn't meant to be an exhaustive list and I'm sure there are better resources. But I watch this space a lot and I can tell you that 2017 was far worse than 2014. Hopefully security managers are learning from this and will prevent future attacks. It's really not much different than stage coach robbers in the Wild West but obviously something has to be done.
And so that pretty much leads into the second part. State actors see these bad things happening and figure an easy way to control the situation is to just ban it. Well, ultimately this won't work in the long run because having money is a fundamental liberty and it is inhumane to deny such basic rights. But power and control is what drive such actions.
On the first point, I have to concede that there truly are more dangers with crypto than fiat at this point in time simply because of the online presence and higher exposure to theft in recent times. 2017 was a record year for crypto theft. Even bigger than the 2014 Mt gox heist. 2014 had mt gox but 2017 had the CoinsMarkets debacle, Japanese exchange theft of XEM, nicehash heist, and many others. This isn't meant to be an exhaustive list and I'm sure there are better resources. But I watch this space a lot and I can tell you that 2017 was far worse than 2014. Hopefully security managers are learning from this and will prevent future attacks. It's really not much different than stage coach robbers in the Wild West but obviously something has to be done.
And so that pretty much leads into the second part. State actors see these bad things happening and figure an easy way to control the situation is to just ban it. Well, ultimately this won't work in the long run because having money is a fundamental liberty and it is inhumane to deny such basic rights. But power and control is what drive such actions.
In my opinion, it depends on how we behave. If we react to it in accordance with the portion, crypto industry will provide high added value and very profitable.
Crypto is not dangerous. Goverment banning Bitcoin because they cant control it and scared that it can become a threat to their Country Currency as more people start using Bitcoin that bank might bankrupt.
I don't think Crypto is dangerous, I think it's highly volatile that's why some of the country are not accepting it yet, but as soon as regulations comes in place, I'm pretty sure more countries are gonna come into it, they are just afraid of their citizens loosing their hard earned money that's why they termed it dangerous, which is not
Yeah you have a point that the country wanted to protect the citizens. However you have missed the other points like "how it will affect the stock market of the countries, if the citizens especially those who invested withdrew their money and put it in crytocurrency market?" Also the cryptocurrency avoid taxes because it's decentralized. Thus only a few countries support cryptocurrency.
I don't think Crypto is dangerous, I think it's highly volatile that's why some of the country are not accepting it yet, but as soon as regulations comes in place, I'm pretty sure more countries are gonna come into it, they are just afraid of their citizens loosing their hard earned money that's why they termed it dangerous, which is not
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
They banned because they don't understand what is this
Being involved in crypto means taking risks and not being 'dangerous'. In crypto world, it is not dangerous to participate, I would rather say it will be risky but not dangerous because you can face different uncertainties from the technology you have unto the money you are investing to it. I can say that fiat money is the 'dangerous' one because it is on hand and it can be stolen right away.
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
Crypto may be seen as dangerous because of what it represents, as well as how it was conceived. Bitcoin was originally created to be a proof of concept for the introduction of the blockchain, the real innovation behind Bitcoin. Bitcoins platform utilized proof of work protocol for a decentralized peer to peer payment system functioning upon the blockchain, a cryptographic transparent public ledger.It was conceived to be an alternative system that challenged the current financial system in place. That fact that it is decentralized and it's code is available open sourced, makes it dangerous because this technology can be freely duplicated.
This challenge to authority makes it seem like a tool of anarchy and rebellion. Maybe now you can visualize why a country's government would want to ban it?
Dangerous term usually use to terrorist, this is a threat only to the government because they don't have control yet such us giving taxes to each member and just because we are earning a lot profit here with out taxes so if the the people working all in crypto, the taxes system of each country will die and that is the threat there.
Crypto industry is too risky rather than calling it dangerous. There are many countries ban this crypto market because they don't have control on it. Here in crypto world there are lots of scams that's why people are freaking out about it but even in fiat there are also scam.
i want to know what makes the cryprto dangerous? to the point that many countries band the use of crypto in their countries. I want to hear your opinion
in my country cripto action in the band because there is no protection for the owners of capital or consumer is there are money laundering actions often done by corruptors or perhaps terrorists. 
It is dangerous because the cryptocurrency does not have a single rate. For example, the bitcoin rate can change several times a day. Also, due to the inability to track who is the owner of the cryptocurrency, it is popular with hackers, arms and drug dealers. Thus, the cryptocurrency facilitates turnover between criminal gangs. Also because of anonymity, you can't recover lost bitcoins.
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