The danger of the cyptocurrencies - page 16.

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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.

Well we all know now that the internet is being monitored by the government,
So if we are going to use this crypto currency in exchage of Fiat they can easily manipulate it,
but on the other side I really think that it is cool that we can live our daily life in the internet and use our cryptos to buy all we need

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Quote from: EdenHazard on February 02, 2017, 06:13:32 PM

Quote from: TastyChillySauce00 on February 02, 2017, 09:12:17 AM

Quote from: Qunenin on February 02, 2017, 09:02:05 AM

Quote from: Fireblade on February 02, 2017, 08:23:43 AM

Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

Just by your statement, Bitcoin used by 1% of the people in the world and you see it is at 1000$. Just imagine if 50% people uses bitcoin how high the price will be because as demand increases, the price will increase too.
There is no Danger of CrytoCurreny to anyone other than Fiat as, Soon Fiat will be vanished by bitcoins.

50% Of people around the world use bitcoin is just too dreamy, even I'm sure dollar didn't reach that many users, even if 10% of population in this world were using bitcoin, it would giving a big impact and might sky-rocketing the price due to uncontrollable demand, though it's just (if).

lol i even not sure if the whole bitcoin supply can fulfill the demand if then half of world population start using bitcoin actively , it was dreamy indeed but not impossible. as i believe there is nothing impossible .

nothing to worry about bitcoin , people just too anxious on something that even not sure.

Bitcoin can due to its flexibility of having decimals and smaller units such as satoshi, mbtc, and so on. If half of the world population are starting to actively use bitcoin, the price might go up and those users may have smaller amounts of bitcoin in their wallet but the value still the same as usual due to the overwhelming price of bitcoin.

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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.

I see that idea like the old moment when the government ask the peoples to change their golds for the "valuable paper".
I don't want to let this being a next conspiracy. We are all smart, and we have choice to do everything that we think right. Cryptocurrencies is a future economy's technology.

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Quote from: The_Dark_Knight on February 02, 2017, 09:42:35 PM

Quote from: HarringtonStark on February 02, 2017, 05:48:11 AM

The word computer will fade overtime. In the future, everything is computerized and the internet would be everywhere and free like oxygen. The internet of things is what they call them.

$ would become like Bitcoins. It will only exist digitaly when paper money is gone.

The future? Most thing have computers already and wherever you there is free internet, like on coffee shops, hotels, restaurants gas stations, parks and the majority of money is electronic and not on the form of cash, you are talking about the present.

What you have mentioned is correct, but such services were used by small user group who're already elites. Thinking of the public it need as well takes lot time to reach them the use of electronic cash. As they were stricken to paper money usage because of the convenience and physical appearance.

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Quote from: HarringtonStark on February 02, 2017, 05:48:11 AM

The word computer will fade overtime. In the future, everything is computerized and the internet would be everywhere and free like oxygen. The internet of things is what they call them.

$ would become like Bitcoins. It will only exist digitaly when paper money is gone.

The future? Most thing have computers already and wherever you there is free internet, like on coffee shops, hotels, restaurants gas stations, parks and the majority of money is electronic and not on the form of cash, you are talking about the present.

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Quote from: Qunenin on February 02, 2017, 09:02:05 AM

Quote from: Fireblade on February 02, 2017, 08:23:43 AM

Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

Just by your statement, Bitcoin used by 1% of the people in the world and you see it is at 1000$. Just imagine if 50% people uses bitcoin how high the price will be because as demand increases, the price will increase too.
There is no Danger of CrytoCurreny to anyone other than Fiat as, Soon Fiat will be vanished by bitcoins.

In fact I don't see convincing arguments to say that the danger is in cryptocurrencies. If one thinks that Bitcoin's existence is a problem for the economy, then surely that person does not understand how Bitcoin works. Or the person has a reasonable knowledge about Bitcoin, but in this case the individual would be demonstrating not to have much knowledge about economics, because history has shown that the more centralized the currency, the worse the situation of the country.

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Quote from: TastyChillySauce00 on February 02, 2017, 09:12:17 AM

Quote from: Qunenin on February 02, 2017, 09:02:05 AM

Quote from: Fireblade on February 02, 2017, 08:23:43 AM

Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

Just by your statement, Bitcoin used by 1% of the people in the world and you see it is at 1000$. Just imagine if 50% people uses bitcoin how high the price will be because as demand increases, the price will increase too.
There is no Danger of CrytoCurreny to anyone other than Fiat as, Soon Fiat will be vanished by bitcoins.

50% Of people around the world use bitcoin is just too dreamy, even I'm sure dollar didn't reach that many users, even if 10% of population in this world were using bitcoin, it would giving a big impact and might sky-rocketing the price due to uncontrollable demand, though it's just (if).

lol i even not sure if the whole bitcoin supply can fulfill the demand if then half of world population start using bitcoin actively , it was dreamy indeed but not impossible. as i believe there is nothing impossible .

nothing to worry about bitcoin , people just too anxious on something that even not sure.

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Quote from: aditya6997 on February 02, 2017, 05:22:10 PM

There is no danger in it if you manage it wisely.

If you're referring to manage the "security" wisely then it might be true, but, you still have a chance to be hacked and any other things which threatening your security may happen, though, OP here is talking about how if the government rip your money off if you were using cryptocurrencies after the paper money have perished, the government can do anything if it's necessary even robbing their own citizen.

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There is no danger in it if you manage it wisely.

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Quote from: mrkevio on February 01, 2017, 12:36:42 AM

Quote from: tabas on January 31, 2017, 11:50:50 PM

Quote from: dEjAvU97 on January 31, 2017, 06:48:25 PM

I think this is of concern from some people that their bitcoin will change the existing financial order. we must understand that the world is changing and the problem becomes complex and so we need a new system that could solve the problem.

And that's going to bring the existing financial system in danger. That is making the crypto currencies dangerous but still it depends on the government if they are going to let crypto's eat their financial system. Innovation is always there but it depends on how it is going to be regulated and being used by us.

The governments know about the danger of cryptocurrencies, so if it happens then you have to know they got enough knowlege about them. But if it happens then it is their plan too, to create a single currency around the world.

One world currency is a conspiracy and I guess that is going to happen soon. They may not adopt bitcoin system but I know they will create their very own creation of currency but it is digital and bitcoin-like one. Decentralization is dangerous for the government if they are going to implement it. Killing the government with it is possible.

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Quote from: Fireblade on February 02, 2017, 08:23:43 AM

Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

That is right that there are not so many places that would accept bitcoin directly. But i do not see a problem in it at all. On the internet there is hundreds of different exchangers and fees that they take are not so much actually. For me it is normal to cash out bitcoins first and then to go to buy whatever i want with local currency.

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Quote from: Qunenin on February 02, 2017, 09:02:05 AM

Quote from: Fireblade on February 02, 2017, 08:23:43 AM

Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

Just by your statement, Bitcoin used by 1% of the people in the world and you see it is at 1000$. Just imagine if 50% people uses bitcoin how high the price will be because as demand increases, the price will increase too.
There is no Danger of CrytoCurreny to anyone other than Fiat as, Soon Fiat will be vanished by bitcoins.

50% Of people around the world use bitcoin is just too dreamy, even I'm sure dollar didn't reach that many users, even if 10% of population in this world were using bitcoin, it would giving a big impact and might sky-rocketing the price due to uncontrollable demand, though it's just (if).

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The use of Bitcoin has no danger in its own! Till the users take precautionary steps, it is hardly to breach anyone's Bitcoin. However, the danger of Bitcoin is something more than its usage! It is the threat offered by Bitcoin to country's economy. Bitcoin is untraceable investment. One cannot know which Bitcoin to include in National Income and which not! So it will lead to Capitalist society and an end to Socialist society!

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Quote from: Fireblade on February 02, 2017, 08:23:43 AM

Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

Just by your statement, Bitcoin used by 1% of the people in the world and you see it is at 1000$. Just imagine if 50% people uses bitcoin how high the price will be because as demand increases, the price will increase too.
There is no Danger of CrytoCurreny to anyone other than Fiat as, Soon Fiat will be vanished by bitcoins.

Doamader

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Bitcoins hasnt die just because were the first crypto currencie, and if altcoins were made some days after bitcoin it would be almost a sure to say that bitcoin could be an altcoin and some other altcoin be into its place, usually when main developers left their projects the community reacts, and usually the coin is forgetted or get a new life. Crypro currencies does allow anybody to make and earn money anytime, the say way that it can eat your money if you dont split your investements over crypto world.

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Quote from: sir.humus on February 02, 2017, 07:16:01 AM

One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

actually people are still adopting bitcoin and still less than 1 % people are using bitcoin and in which may be a few hundred are able to use it as currency, while the remaining people still do not have the facility to use bitcoin as currency in local shops, therefore most of the people are using bitcoin as investment and for trading, i think when they will able to use bitcoin for shopping as currency then people will mostly use bitcoin as currency and not investment.

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One danger is that digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly.

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I think this innovation is not a danger in itself ! Adapting bitcoin as a way of money is just an alternative money just how we view online banking !Online banking is just an alternative but that doesn't mean cash or paper money will be vanished ! It's very similar with bitcoins don't think that bitcoin will be a worldwide currency because it isn't feasible !

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The word computer will fade overtime. In the future, everything is computerized and the internet would be everywhere and free like oxygen. The internet of things is what they call them.

$ would become like Bitcoins. It will only exist digitaly when paper money is gone.

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I don't fear with digital transaction. i am happy to encounter digital payment in near future and i am really excited for that because it's completely cash less and there would be no tension of caring ATM card or wallet when we go out. And sometimes we do forget to carry wallet do with bitcoin it would not happen because we have smartphone which w.
e carry even to toilets and we don't forget about it. let's welcome cashless transaction. ○

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