The danger of the cyptocurrencies | Bitcointalksearch.org

fokinlipat

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Some of the dangers of cryptocurrencies is that many are run by scam devs and sites, not the cryptocurrencies itself.
Cryptocurrencies is decentralized and no one has control of it. Government can't take control over it because they have no base regulations for it.
IMO, people should start to believe and use cryptocurrencies because cryptocurrencies have so much potential as digital currency in future.

Talking about the limitations of Bitcoins, one of the primary disadvantages is that it untraceable. Thus, people are using it for illegal activities, which is a big issue for governments all over the world. Thus, some of the countries have already banned Bitcoins in their countries.

However, in my opinion, we should compare both the advantages and limitations before making a decision related to bitcoins legality in a country. If 100 people are using this medium for genuine investment and 1 guy is misusing it, decision should be in favor of bitcoins .

Bellator

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Quote from: mindrust on October 01, 2016, 03:52:50 AM

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

You have a point there but as no one controls the cryptocurrency its hard to replace fiat and gold,its user don't just depend on the existence of cryptocurrencies but rather used it as an alternative way of earning.Altcoins and bitcoins only depends on the demand,it increases its value if the demand will rise up,and now that bitcoin has gone deeper and slowly rising up its as good as saying its consistency in the market is not permanent and it will never stable.So far bitcoins trust ratings wil never stabilizes so i think your fears is just too far to happen.

cotton ball

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Quote from: Cloak1 on April 22, 2018, 02:53:16 PM

What I'm afraid most is when we have to keep our all money in the computer system, then we have to be ready for losing the whole money we have. In cryptocurrency world, once we lose our money, we will never get them back.

some clauses have been offered, included in the hardwallet sales package, the computer is not a safe place for our assets so there needs to be something optional, it looks very dangerous but everything is based on personal responsibility, but there are many things we can do to fortify it .

MetalGear

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Quote from: mindrust on October 01, 2016, 03:52:50 AM

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

This might happen because the demand to cryptocurrency is increasing. And from my opinion, cryptocurrency is more practical especially that our society is now changing into a more technology dependent world. The Sci-Fi films we once just watches in the movie might be not that far from the current year. With the progressive technology we have, cryptocurrency will be seen as the financial medium in that futuristic society.

Cloak1

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What I'm afraid most is when we have to keep our all money in the computer system, then we have to be ready for losing the whole money we have. In cryptocurrency world, once we lose our money, we will never get them back.

Lalafell

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Activity: 812

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Quote from: mindrust on October 01, 2016, 03:52:50 AM

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

To think that the CIA has pulled some strings for bitcoin sounds like a another conspiracy theory for me. But then I won't be surprise if bitcoin will top all other currencies in the future. With the investments and trades happening right now, a very large amount of money is circulating right now in the market all because of bitcoin. Its demand and popularity right now is all the basis why we all see that bitcoin has a great future.

Danlopz

newbie

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Quote from: requester on February 28, 2017, 11:09:27 AM

danger of bitcoin is its anonymity which welcomes the government and other intelligence agencies to takes down the currency from currency list. and danger of other cryptocurrencies is feasiability.

I think the dangerous thing about cyptocurrency is that cyptocurrency is always associated with a crime on the internet that serves as a transactional tool, it will make more and more illegal transactions happen.

jack8989

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StartFi

Quote from: felmitof on April 22, 2018, 01:12:16 PM

I dont think there will ever be a day where fiat or gold are "worthless". Gold has been a store of value recognized in every country in the world for thousands of years. The point of currency is to be a medium of exchange. To be a medium of exchange, all you need is for something to be recognized as having value by many people.

Yes , golds are only valuable when people have the needs on their exchanging. If people in this world doesn't need exchanging anything so actually currencies or valuable things will disappear because people don't need them for scaling things any more.

felmitof

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I dont think there will ever be a day where fiat or gold are "worthless". Gold has been a store of value recognized in every country in the world for thousands of years. The point of currency is to be a medium of exchange. To be a medium of exchange, all you need is for something to be recognized as having value by many people.

mdzahed134

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This is very important discussion I think but I am not agree with you.Because I never mind cryptocurrencies will be dangerous in future.Even I strongly believe this is more bright at future.How would you say it would be used as a toilet paper in the future? Investor are increasing day by day in this cryptocurrency sector.Only some countries government stand against with crypto currency money system otherwise maximum of the countries government it take positively I think.

Moneypham5

newbie

Activity: 134

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The pricing of digital tokens is often unclear and speculative. Where Digital Tokens do not hold any ownership of the Digital Tokens' property, Digital Tokens will not be secured by any tangible assets. These digital tokens are intrinsically high speculative investments and their trading prices can fluctuate sharply over a short period of time. This leads to a high risk that the investor is likely to lose his investment. In the worst case, the Digital Tokens can become worthless, besides fraud, money laundering, terrorist financing and other illegal activities.

Eleanorjean11

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This topic just created many conspiracy theories, except that this thread is full with useless comments from people who didnt even read more then headline. Danger or not people will use bitcoins as long as they have some benefits from that. People do many dangerous things for profit and there is no point to talk about who created it, with what purpose, that doesnt mean nothing. If people make profit they will use it, secretly or not, illegal or legal, doesnt matter, as long you can earn money for yourself and your close ones.

keketex144

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the only danger for me is price going down so much lol

TheGodFather

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Quote from: mindrust on October 01, 2016, 03:52:50 AM

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

There are a lot of dangers by using cryptocurrencies. Actually bitcoin is used in transaction in deep web or what they called "Dark Web". As we can see, thats actually the hidden part of online. They sell Guns, Ammos, and Drugs as well and they can buy them using bitcoin. Bitcoin is now the method of payment or the way on how they transact so theres a little chance that you can be involve in that transaction as well.

Vaskiy

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DGbet.fun - Crypto Sportsbook

Quote from: aso118 on April 08, 2017, 11:19:14 PM

Quote from: CryptoCopper on April 07, 2017, 04:09:08 AM

Quote from: lEgEndArIUs on April 07, 2017, 02:10:54 AM

Quote from: Janation on April 06, 2017, 09:15:00 PM

I think removing the fiat and using crypto currencies are not a news, but more on speculation by some geek or socialist or economist that is looking forward to the future of bitcoin. Removing the fiat is really ridiculous, as you can see bitcoins are still converted to real money because bitcoin is not really known by many stores and they dont like its volatility. They are scared that bitcoin may end up making them really broke because of the unpredictable price. These is really far from happening because the government know what is these digital currency and what harm can it bring to its people.

Because cryptocurrency is the decentralized, and not can be controlled, of course using the cryptocurrency totally then surely it is dangerous, I can't imagine that the country's economy will be easily controlled if using cryptocurrency.

Legendarius

country's economy controlled not only by money system, it's much more complicated

Money is one aspect of control. Governments hate losing out over even an inch of control.
Luckily, cryptocurrencies are too small for them to start worrying now.

Though cryptocurrencies were very few small to the countries to oppose there are countries that have regulated it's usage as well few have warned bitcoin users with their transactions. But more countries accept the potential of the backing technology and under consideration in several firms.

aso118

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Quote from: CryptoCopper on April 07, 2017, 04:09:08 AM

Quote from: lEgEndArIUs on April 07, 2017, 02:10:54 AM

Quote from: Janation on April 06, 2017, 09:15:00 PM

I think removing the fiat and using crypto currencies are not a news, but more on speculation by some geek or socialist or economist that is looking forward to the future of bitcoin. Removing the fiat is really ridiculous, as you can see bitcoins are still converted to real money because bitcoin is not really known by many stores and they dont like its volatility. They are scared that bitcoin may end up making them really broke because of the unpredictable price. These is really far from happening because the government know what is these digital currency and what harm can it bring to its people.

Because cryptocurrency is the decentralized, and not can be controlled, of course using the cryptocurrency totally then surely it is dangerous, I can't imagine that the country's economy will be easily controlled if using cryptocurrency.

Legendarius

country's economy controlled not only by money system, it's much more complicated

Money is one aspect of control. Governments hate losing out over even an inch of control.
Luckily, cryptocurrencies are too small for them to start worrying now.

megynacuna

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Quote from: Silberman on March 23, 2017, 08:51:55 PM

Quote from: UCHCHILD on March 22, 2017, 09:36:10 PM

Danger of cryptocurrencies?
The limit of its users, they cannot handle who is the users of bitcoin, a young or adult, the danger there is they can access anything they want illegal.

This is a small price to pay besides it is not like you cannot access all kind of illegal service and product with fiat already, bitcoin just seems to make it a little bit easier to some people.

That's profound and it's the reason you ought to be responsible as a parent and not necessarily share your responsibility with others because chances are that your child may be exposed to its illegal use even if it is limited to particular users.

xSkylarx

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Quote from: mindrust on October 01, 2016, 03:52:50 AM

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

Bitcoin or even the actual money that we use and almost everything harbors risk, danger but it is up to you if you will give in to these dangers, make use of these dangers, proceed with these dangers, or avoid these dangers

ASHLIUSZ

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Quote from: CryptoCopper on April 07, 2017, 04:09:08 AM

Quote from: lEgEndArIUs on April 07, 2017, 02:10:54 AM

Quote from: Janation on April 06, 2017, 09:15:00 PM

I think removing the fiat and using crypto currencies are not a news, but more on speculation by some geek or socialist or economist that is looking forward to the future of bitcoin. Removing the fiat is really ridiculous, as you can see bitcoins are still converted to real money because bitcoin is not really known by many stores and they dont like its volatility. They are scared that bitcoin may end up making them really broke because of the unpredictable price. These is really far from happening because the government know what is these digital currency and what harm can it bring to its people.

Because cryptocurrency is the decentralized, and not can be controlled, of course using the cryptocurrency totally then surely it is dangerous, I can't imagine that the country's economy will be easily controlled if using cryptocurrency.

Legendarius

country's economy controlled not only by money system, it's much more complicated

What's been quoted is true but money system is the major factor. Countries fear that cryptocurrencies currencies might destroy their money system. Fearing this few countries have levied strict regulations, but the countries that understand it in the better way make plan of adopting bitcoin.

CryptoCopper

newbie

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Quote from: lEgEndArIUs on April 07, 2017, 02:10:54 AM

Quote from: Janation on April 06, 2017, 09:15:00 PM

I think removing the fiat and using crypto currencies are not a news, but more on speculation by some geek or socialist or economist that is looking forward to the future of bitcoin. Removing the fiat is really ridiculous, as you can see bitcoins are still converted to real money because bitcoin is not really known by many stores and they dont like its volatility. They are scared that bitcoin may end up making them really broke because of the unpredictable price. These is really far from happening because the government know what is these digital currency and what harm can it bring to its people.

Because cryptocurrency is the decentralized, and not can be controlled, of course using the cryptocurrency totally then surely it is dangerous, I can't imagine that the country's economy will be easily controlled if using cryptocurrency.

Legendarius

country's economy controlled not only by money system, it's much more complicated

Topic: The danger of the cyptocurrencies (Read 45199 times)