The danger of the cyptocurrencies - page 12.

bob123

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Quote from: Zaun on February 11, 2017, 10:12:37 PM

Quote from: bob123 on February 11, 2017, 12:22:48 PM

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

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.

audaciousbeing

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The danger of cryto-currency to me, is what the users are using it for and its that reason that the dangers are being exploited by people who sees bitcoin as a threat to their business. However, this is not to say there are no dangers among which include the fact that its untraceable and this is something to be exploited by money launderers or hackers among others. Another is the issue no body to regulate the activities of users unlike other payment system that regulate and even handle disputes and correct bad behavior with punitive measures among others.

Xester

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Quote from: danherbias07 on February 11, 2017, 10:41:29 AM

Quote from: panju1 on February 11, 2017, 07:26:24 AM

Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

Safety concerns about Bitcoin are over-exaggerated. Exchanges do get hacked, but if you follow reasonably safe browsing practices, there should be no problems. Cold storage is also an option if you have large number of bitcoins.

Exchanges do get hacked. By themselves. Cheesy

If I am an exchange owner dont you think I will try to secure it to the deepest that I want it to be or should be? Look, if that exchange is hacked it is my lost too. It is just either they hacked themselves for just greed reasons or they are already broke and will try to run now.

That is the biggest threat and danger to all cryptocurrencies, it is when the exchangers will decide to keep all the coins to himself. And after claiming all the coins he will declare being hacked. But this only happens to small time exchangers or to exchangers who are earning a small amount or in the brink of bankruptcy. I do hope this cases of hack attacks to exchangers will stop otherwise the bitcoin industry will start to decay.

lOvE mE forEvEr

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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.

Zaun

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Quote from: bob123 on February 11, 2017, 12:22:48 PM

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

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.

Bitcoin0916

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I think it's exaggerated, market domination bitcoin not more than 0.05% of the world so do not assume that bitcoin threatens world financial and considered dangerous. The use of the bitcoin transactions are better than fiat money, so it can be used as an alternative transaction.

bob123

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

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.

noel2123

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Quote from: danherbias07 on February 11, 2017, 10:41:29 AM

Quote from: panju1 on February 11, 2017, 07:26:24 AM

Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

Safety concerns about Bitcoin are over-exaggerated. Exchanges do get hacked, but if you follow reasonably safe browsing practices, there should be no problems. Cold storage is also an option if you have large number of bitcoins.

Exchanges do get hacked. By themselves. Cheesy

If I am an exchange owner dont you think I will try to secure it to the deepest that I want it to be or should be? Look, if that exchange is hacked it is my lost too. It is just either they hacked themselves for just greed reasons or they are already broke and will try to run now.

Just other saying , we do not have that kind of securities that are often like in banks. We should not expect the right security for our own bitcoin wallet account, just like on our own social media or our facebook, we have the privacy, but once the password was been hacked, we do not have enough securities on it.

deisik

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Quote from: danherbias07 on February 11, 2017, 10:41:29 AM

Quote from: panju1 on February 11, 2017, 07:26:24 AM

Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

Safety concerns about Bitcoin are over-exaggerated. Exchanges do get hacked, but if you follow reasonably safe browsing practices, there should be no problems. Cold storage is also an option if you have large number of bitcoins.

Exchanges do get hacked. By themselves Cheesy

If I am an exchange owner dont you think I will try to secure it to the deepest that I want it to be or should be? Look, if that exchange is hacked it is my lost too. It is just either they hacked themselves for just greed reasons or they are already broke and will try to run now.

An exchange owner is not necessarily behind these hacks (or scams)

But it doesn't of course mean that it is not an inside job (though for traders it is a cold comfort). If you really were an exchange owner, you wouldn't want to scam (unless you started the exchange with this end specifically) since that would be like killing a goose laying golden eggs. On the other hand, you wouldn't run an exchange all by yourself or just confirm all withdrawals with your private key, you would definitely need staff for that. And they can steal your clients' money, so he may be a victim too

danherbias07

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Leading Crypto Sports Betting & Casino Platform

Quote from: panju1 on February 11, 2017, 07:26:24 AM

Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

Safety concerns about Bitcoin are over-exaggerated. Exchanges do get hacked, but if you follow reasonably safe browsing practices, there should be no problems. Cold storage is also an option if you have large number of bitcoins.

Exchanges do get hacked. By themselves. Cheesy

If I am an exchange owner dont you think I will try to secure it to the deepest that I want it to be or should be? Look, if that exchange is hacked it is my lost too. It is just either they hacked themselves for just greed reasons or they are already broke and will try to run now.

deisik

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Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here

This is not the same

Theft is a deliberate action, namely, "the felonious taking and removing of personal property with intent to deprive the rightful owner of it". If you are just lucky to find 1M dollars, then you are not a thief, by any means. I guess the laws are different across countries, but in some jurisdictions, the finder can even claim some reward if he decides to return the money to its lawful owner. For example, in Japan, the gratuity is up to 20% of the total value of the lost items according to the Lost Property Law. I don't think that a thief could expect something like that

That's what they should expect

panju1

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Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

Safety concerns about Bitcoin are over-exaggerated. Exchanges do get hacked, but if you follow reasonably safe browsing practices, there should be no problems. Cold storage is also an option if you have large number of bitcoins.

ufaiz50

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Quote from: Pettuh4 on February 11, 2017, 06:29:28 AM

Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

bitcoin has a strong security if you do not believe sites bitcoin wallet providers like Coinbase, Blockchain, etc. to secure bitcoin or use email to suspicious sites, you can use two-factor authentication

Pettuh4

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Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

iram3130

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Quote from: Bitcotalk on February 10, 2017, 10:58:20 AM

Quote from: Ronxawala on February 09, 2017, 05:52:13 PM

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.

Yes, You need to see the brighter side of the Bitcoin. Of course, there are advantages and disadvantages of every new technology but Bitcoin has done more good than bad to the world. There are only some people who misuse it.

paul gatt

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probably true what you said correctly, the cryptocurrencies general and Bitcoin particularly, they have a huge impact on the economy, particularly as they affect the gold and money. However, in fact, Bitcoin can not reach the value of $ 1,000,000, which is nonsense. Bitcoin value of always being controlled, it can not increase faster than the permitted level, so, Bitcoin is still safe. And now, in some countries, Bitcoin is managed, this will cause difficulties for the development of Bitcoin

virusasog

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Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

Why you be reluctant about bitcoin. Just take if you having amount in your bank account and if you need to transfer to next country means its takes the huge charges but here same applies to all. Even government have bankruptcy . So you can have faith on bitcoin.

deisik

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Quote from: Przemax on February 10, 2017, 03:08:57 PM

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld

This is a weak point

I mean no one actually thinks this way (let alone thieves). It is like saying that bank robbers are justifying their actions by thinking that if they didn't rob a bank, then someone else would. They may in fact be justifying the robbery in some obscure way, e.g. for the sake of liberty, equality, and fraternity (or peace, truth, and justice), but certainly not in the way you assume. In short, that's bullshit, most of the time

FLoving

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Quote from: Clement Kaliyar on February 10, 2017, 05:04:57 PM

Quote from: Ronxawala on February 09, 2017, 05:52:13 PM

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.

Taxes are applicable when you convert your coins to fiat currency and as long as you keep your coins in your wallet there wont be any tax .The only danger while using crypto currencies are the constant news about hacking and since everything is done online it is the risk you have to take and remember to save your savings in an offline wallet which reduces the risk.

till the time your money is in bitcoin no one will ask for tax and when you convert these bitcoin to fiat then tax will be imposed it means that the tax is not on the bitcoin but on the fiat and due to the features of bitcoin it is impossible for any institute to impose tax on bitcoin and its transactions.

Clement Kaliyar

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Quote from: Ronxawala on February 09, 2017, 05:52:13 PM

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.

Taxes are applicable when you convert your coins to fiat currency and as long as you keep your coins in your wallet there wont be any tax .The only danger while using crypto currencies are the constant news about hacking and since everything is done online it is the risk you have to take and remember to save your savings in an offline wallet which reduces the risk.

Topic: The danger of the cyptocurrencies - page 12. (Read 45199 times)