Topic: The danger of the cyptocurrencies - page 19. (Read 45202 times)
The biggest danger is that cryptocurrency is inherently volatile at this stage, and their future behavior is uncertain. DO NOT INVEST IN CRYPTOCURRENCY MORE THAN YOU ARE WILLING IN AGGREGATE TO LOSE.
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 am not scared because Bitcoin is decentralized. I keep my Bitcoins with me and there is no way for people to take them away for me. Even if I don't know who Satoshi Nakamoto is, I am still confident in Bitcoin and I definitely will keep using it for as long as I can. Maybe the government is behind Bitcoin, but what can they do now? There is no way for them to control Bitcoin in any way, so if they were hoping to do something, they really screwed up. 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.
Crypto currencies are a new tool and as any tool they will bring new solutions and new problems, however I think, the net benefits of crypto currencies outweigh any kind of cost we incur for using them.
Right, in other hand cryptocurrency also have deficiencies or create new problems. But it is caused by human not the money, right. And the most frequent causes are cryptocurrency often used for illegal things online. Such as selling drugs and so on. And in my opinion it can not be solved unless the government took part. Thank you
It takes too much time to build a protected and secured your funds from your wallet.. in bitcoin i only trust on the wallet like coinbase and blockchain
If one were to store all of their wealth into a cryptocurrency, instead of exchanging it for an equally valued good or service, and the market dropped out because it was stolen or exploited, then it would have no value to anybody. In that case, another medium of exchange would present itself. The goods (bricks, steel, gas, solar panels....etc) and the services (doctors, lawyers, engineers....etc) are where true wealth abides, not the means of exchanging such wealth. Another danger is the price of coins, it can go down at some point and it loses value. So you have a loss... Because of it, it's important to know in which coins invest, to don't lose your money price on medium or long term.
If one were to store all of their wealth into a cryptocurrency, instead of exchanging it for an equally valued good or service, and the market dropped out because it was stolen or exploited, then it would have no value to anybody. In that case, another medium of exchange would present itself. The goods (bricks, steel, gas, solar panels....etc) and the services (doctors, lawyers, engineers....etc) are where true wealth abides, not the means of exchanging such wealth. Another danger is the price of coins, it can go down at some point and it loses value. So you have a loss... Because of it, it's important to know in which coins invest, to don't lose your money price on medium or long term.
but we are already own by the government where we live. we have to follow the rules and regulation of a country where we are, and the government will never let your free, out of their control and therefore they will be thinking about to create their own crypto currency and fulfill the need of the modern time. in this way they will not let their people out of their control. but still no such crypto currency can be compare to bitcoin.
You are not own by government. But you will be when they will take control over your money. Imagine that you are journalist who discovered government conspiracy.They know about you and they can blacklist your funds and founds of your family and friends, they will render useless everyone who will try to oppose the system.
Something like this is impossible with physical fiat.
I once saw a specialist in blockchain technologies comment that if governments wanted, they could create a public wallet for every person living in their countries. In this way, governments would be able to collect taxes more easily, because in that case they would know who the owners of the wallets were, and the information could be consulted more transparently through the blockchain.
I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
You are talking about creation of national cryptocurrency. This is something we should be very afraid of. It will be path to hell for everyone.I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
Government will own you, authorities will know what you do, what you buy, where you go and with whom. It will be Big Brother's paradise.
there is a sci-fi movie narrate about how a government create their own cryptocurrency version , everybody and you may know mr. robot tv series right? US government have created E coins with Phillip Price (E Corps) as a rulers.
a centralized cryptocurrency will be the worst idea ever.
That future might be closer than we think. There was news about Sweden, they want to become first cashless society.a centralized cryptocurrency will be the worst idea ever.
In next 5 years they might remove standard banknotes. Even Swedish churches expect internet payments.
https://www.theguardian.com/business/2016/jun/04/sweden-cashless-society-cards-phone-apps-leading-europe
Crypto currencies are a new tool and as any tool they will bring new solutions and new problems, however I think, the net benefits of crypto currencies outweigh any kind of cost we incur for using them.
I once saw a specialist in blockchain technologies comment that if governments wanted, they could create a public wallet for every person living in their countries. In this way, governments would be able to collect taxes more easily, because in that case they would know who the owners of the wallets were, and the information could be consulted more transparently through the blockchain.
I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
You are talking about creation of national cryptocurrency. This is something we should be very afraid of. It will be path to hell for everyone.I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
Government will own you, authorities will know what you do, what you buy, where you go and with whom. It will be Big Brother's paradise.
a centralized cryptocurrency will be the worst idea ever.
I am not really scared from any cryptocurrencies because I think that some politicians will bring a law which will not give access to bitcoin
Technically, you will keep on accessing and using bitcoins even your government will impose any restrictions. Person to person dealing of bitcoin is beyond the reach of government law. So, please come out of your fears.some countries can also bann bitcoin if they see that bitcoin can deystroy fiat tottaly.
Some governments are emphasizing the importance of adopting digital economy. India is one good recent example. So, some government itself already has started destroying fiats. 90% of fiat usage will get replaced for sure.bitcoin price growing speed is decreased really much
It is highly dependent on adoption rate. If you spread bitcoin, it will have price appreciations quicker. So, it can not be a danger. Always slow and steady is preferred than rapid growth. 
I am not really scared from any cryptocurrencies because I think that some politicians will bring a law which will not give access to bitcoin or any other crypto to make a fiat worthless or a gold.Some countries already banned bitcoin,some countries can also bann bitcoin if they see that bitcoin can deystroy fiat tottaly.I am not sure in theory that bitcoin will even worth more than 5000$ or any other cryptocurrency because bitcoin price growing speed is decreased really much so because of that I have prediction like that.I want bitcon worth more than 50.000,00$ later even 10.000,00$ can be enought but that will not happent what we can also see from coincapmarket site where everybody can see also price moving in % ,market cap and other things important for crypto market.
I once saw a specialist in blockchain technologies comment that if governments wanted, they could create a public wallet for every person living in their countries. In this way, governments would be able to collect taxes more easily, because in that case they would know who the owners of the wallets were, and the information could be consulted more transparently through the blockchain.
I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
You are talking about creation of national cryptocurrency. This is something we should be very afraid of. It will be path to hell for everyone.I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
Government will own you, authorities will know what you do, what you buy, where you go and with whom. It will be Big Brother's paradise.
I think it is harmless, but it's one opportunity to amend the traditional money to a better system. We all know that money traditionally had many flaws, one of which is easily forged, when that happens the country certainly will be created with.
The government should have a private rule for cryptocurrencies so it can secure for investors.
Actually there are not any dangers of cryptocurrencies and we are in the digital world. We need them to solve all payments in this digital world.
Actually there are not any dangers of cryptocurrencies and we are in the digital world. We need them to solve all payments in this digital world.
i think what the government wants from bitcoin is how they can take a tax from people which is using bitcoin in every day and for the rule, i think the government will make a rule for this if they see that the opportunity to make a tax for people is come and they will use their power to make a regulations for the bitcoin user.
I think the risk to governments is that people would get to know Bitcoin and its different features, and that way they could create other wallets to stay out of the domain of governments.
The government should have a private rule for cryptocurrencies so it can secure for investors.
Actually there are not any dangers of cryptocurrencies and we are in the digital world. We need them to solve all payments in this digital world.
Actually there are not any dangers of cryptocurrencies and we are in the digital world. We need them to solve all payments in this digital world.
i think what the government wants from bitcoin is how they can take a tax from people which is using bitcoin in every day and for the rule, i think the government will make a rule for this if they see that the opportunity to make a tax for people is come and they will use their power to make a regulations for the bitcoin user.
In my opinion The main power of cryptocurrency is in decentralization . I'm not fully agree with bitcoin privacy, priblem is when you get scam so you can't track scammer.
Crypto currencies like bitcoin only face problems of adoption by our governments to go full scale other than that its the scam bags trying to scam users who are unsuspecting that prove to be the real problemThere will always be scammers in bitcoin and in any other currency in the planet, crypto or fiat... you can never stop scammers, you can only educate people to become intelligent enough so that they stop falling for it. You can never make the world a perfect place but you can harden yourself for the adversities out there.
In the modern world for a lot of money can be very dangerous as to their owner. But the fact that Bitcoin is not a simple currency and it is not generally recognized as the official currency. Therein lies the danger for the owner. After all, there are countries where there is even a criminal prosecution for the use of trade cryptocurrency.
Cashless world is not the utopia as I think. That the real future of all the world. Of course it will not come tomorrow or in couple of years, but I really believe that the day will come when paper money will go in the history. And here it's not the point how many dollars bitcoin will cost. Everything depends from the future. Now 10 000$ is huge money, but who knows what kind of money will be in the future?!
Cashless payment is a form of calculation between individuals, businesses and so on, but it is money in digital format is in my opinion quite another matter. Bitcoin strong push to the front, but in a digital format, and enjoy other currencies. So we can not predict what will happen in ten years and what will be more important than the dollar or bitcoin
Cashless world is not the utopia as I think. That the real future of all the world. Of course it will not come tomorrow or in couple of years, but I really believe that the day will come when paper money will go in the history. And here it's not the point how many dollars bitcoin will cost. Everything depends from the future. Now 10 000$ is huge money, but who knows what kind of money will be in the future?!
The fact is that bitcoin does not allow a legal way to solve the user's problem. On the one hand it prevents a good argument, that anonymity, and on the other the possibility of losing everything and not be able to get back something.
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