My biggest concern is the hundreds of Alts that have an ICO and then disappear. And scams like Paycoin that take take take and then poof they are gone. I've been happy since switching only to trading BTC. It's the risk that makes it exciting though.
It's cryptocurrency, Too many the ponzi, MLM scheme and what the PBOC has done with the chinese exchange to prevented the growth of the pyramid scheme. Bitcoin is the safe place right now.
Topic: The danger of the cyptocurrencies - page 11. (Read 45199 times)
My biggest concern is the hundreds of Alts that have an ICO and then disappear. And scams like Paycoin that take take take and then poof they are gone. I've been happy since switching only to trading BTC. It's the risk that makes it exciting though.
It's cryptocurrency, Too many the ponzi, MLM scheme and what the PBOC has done with the chinese exchange to prevented the growth of the pyramid scheme. Bitcoin is the safe place right now. 
If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.
I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous. 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.
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.
We are on the Information Age right now OP, so being dependent on the technologies here on our surroundings is just normal, but I am not saying that we should rely on them always. And thinking negative thoughts like this about cryptocurrencies will not help to make the world of cryptocurrencies more better, so, instead of thinking like this, why don't we just support it until we can, until it comes to its end. Let's just contribute something in this world that we are living, for the better.
And who cares if USD and gold will become just worthless? what matter is there is/are still currencies that do exist in our everyday living, for us to use in our daily transaction, that is more important, and bitcoin as the main currencies that we all going to use all around the world sounds awesome, because there will be no more tax and the government can not steal our money anymore because we have our own wallet, and they can't just barge in like they know the private key of it.
We know its CIA once they dont allow physical currencies or make the unattractive
The fact that cryptocurrency is made in a computer and used in the internet gives it a big a danger to itself. It is very prone to hackers. And no one can say how long can it last over the internet. Because cryptos are also money some people are still having doubt to invest and use it because it will be easy for someone to steal it. And the transaction made by crytos are anonymous.
If you make sure that you run everything from a clean PC and also properly secure all your wallet files, then there is not much to worry about. In order to up the security a notch, quite some people have bought themselves a hardware wallet. I personally bought myself a Trezor wallet, and I must say that it works perfectly fine. I solely use it for my cold wallet coins. For me personally not a big deal, but Trezor also supports certain altcoins. If you want top notch security, then buy one.
If i see the reality than nothing is happened as you said, I am not saying you are wrong, that is your thread and i respect it and also your thinking. But in my opinion, I don't think that fiat currency will be die now and ever, Crypto currency can be ended, but fiat currency always remain in the world.
It is hard to removed anything that been so normally used by everyone. Having our own fiat marks ones country identity so it is quite impossible in making it as a real money , having it as our digital currency and support in our money already a plus factor of it. The fact that its transactions is secured.
If i see the reality than nothing is happened as you said, I am not saying you are wrong, that is your thread and i respect it and also your thinking. But in my opinion, I don't think that fiat currency will be die now and ever, Crypto currency can be ended, but fiat currency always remain in the world.
It is hard to removed anything that been so normally used by everyone. Having our own fiat marks ones country identity so it is quite impossible in making it as a real money , having it as our digital currency and support in our money already a plus factor of it. The fact that its transactions is secured.
The fact that cryptocurrency is made in a computer and used in the internet gives it a big a danger to itself. It is very prone to hackers. And no one can say how long can it last over the internet. Because cryptos are also money some people are still having doubt to invest and use it because it will be easy for someone to steal it. And the transaction made by crytos are anonymous.
It is indeed very dangerous for security of user data, but it doesn't make people to move in anticipation of attacks by hackers. There are many experts who are able to handle this case, for example is blockchain wallet. If everyone is worried all of their accounts in digital world, online businesses would never walk properly, including microsoft and apple.
The most dangerous fact is how much knowledge of the user understand how to secure bitcoin transactions. If they don't understand, hackers will be happy to take each of their accounts.
beauty of crypto currencies is only of their privacy . if it would by the government then their is no option to use crypto currency . while we will use direct other online currency instead of these . because due to control under government of country there will be restrictions of saving and transfer .
I would agree into this thought.Cryptocurrency is not advance at fiat currency but just improved some features and added some that is what makes it special from fiat
The fact that cryptocurrency is made in a computer and used in the internet gives it a big a danger to itself. It is very prone to hackers. And no one can say how long can it last over the internet. Because cryptos are also money some people are still having doubt to invest and use it because it will be easy for someone to steal it. And the transaction made by crytos are anonymous.
If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.
I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous. My biggest concern is the hundreds of Alts that have an ICO and then disappear. And scams like Paycoin that take take take and then poof they are gone. I've been happy since switching only to trading BTC. It's the risk that makes it exciting though.
Everyone has a choice on where they are comfortable, there are plenty of scam ICO but you can spot that if you do prior research before investing your money. There are people who makes good money investing in ICO as they easily double their money investing in legitimate ICOs. I guess we have to be careful with investment, it is our money and that is precious to us, therefore, let us do what successful investors are doing. 
If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.
I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous.
My biggest concern is the hundreds of Alts that have an ICO and then disappear. And scams like Paycoin that take take take and then poof they are gone. I've been happy since switching only to trading BTC. It's the risk that makes it exciting though.
If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.
I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous. I don't quite understand why people are so obsessed with hardware wallets
As far as I understand it, you are basically trusting your coins to a third party. They (i.e. hardware wallet manufacturers) cannot indeed steal your coins (at least, as long as the wallet is not connected to Internet), but they may still cause you to suffer losses if this wallet breaks beyond repair. Saving your private key somewhere else undermines the whole concept of such wallets as I see it
I mean, if you think about it... you always have to "trust a third party" with cryptos in some way or the other. For example, if you don't run your own node and use a client to connect to other nodes with your wallet, you are "trusting a third party". Also, don't forget that we are all "trusting a third party" just by using the Bitcoin software (unless you are a dev and can understand what's going on and edit the code).
If you don't understand the ends and outs of everything that you are using, you are very well trusting someone that it won't be some scam.
Dangers can be expected from anyone. Or from disadvantaged users who use bitcoin for illegal trades or from the state, which is searching for means of its citizens, and bitcoin does not allow to charge taxes.
The dangers and disadvatages are not much from the use of crypto currency but it have givern a lot of benefits to the people of the world and to this world. With that many people are not now jobless and living a happy life.
I am not sure if that's a good thing. Being dependent so much on computers just scares me.
You dont have to store your Bitcoins on a Computer.. you just need a Private-/Public Key Pair.
You could generate them with PC (or you could even "generate" it from hand)..
A Paper Wallet can't be "hacked".. Neither can a properly build Hardware wallet be hacked.
Remember that not all people are aware as to how to run BTC from an USB nor do they understand paper wallets.
This is what is making it confusing for other people and since most of them are 'lazy' they stick with the opinion that crypto in general are dangerous.
We all now how risky exchanges and online wallets are so there must come a more easy solution. A hardware wallet for just 20 bucks f.e.
There are hardware wallets available for about 40 Bucks.
I think getting even cheaper will kinda be impossible if you still want to have secure algorithms and secured hardware.
I don't quite understand why people are so obsessed with hardware wallets
As far as I understand it, you are basically trusting your coins to a third party. They (i.e. hardware wallet manufacturers) cannot indeed steal your coins (at least, as long as the wallet is not connected to Internet), but they may still cause you to suffer losses if this wallet breaks beyond repair. Saving your private key somewhere else undermines the whole concept of such wallets as I see it
I think is not harmful, transaction bitcoin is still very limited and if there is no agreement the country anyone can not use bitcoin transactions official. I think we need not be complicated by the existence of negative news, let's focus introduced bitcoin to more people so as to make the position of the bitcoin getting stronger.
You are right, because may be i am wrong, but it is first thread who said that fiat currency properly remove. In this time, it is useless talk if we think that world will be move without fiat. No chance fiat remove all over the world. I believe no one agree on it, also crypto will remain in this world, it is a part of new technology and both, fiat and crypto will give us comfort life. In my view, world couldn't build without fiat, and without crypto it is possible.
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