The danger of the cyptocurrencies - page 21.

rizkyhiw

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Quote from: rickadone on December 28, 2016, 12:47:22 PM

Quote from: BingoDog on December 27, 2016, 09:09:23 AM

There is no danger in cryptocurrency, just some people or better to say governments are spreading irrational fear of it because they are afraid for their financial or maybe even political system. Cryptocurrencies offer progress and there is no harm in it. If everyone accepts their advantages it could be better for us all.

We can’t deny that crypto-currencies are used for some bad things, and are used by the wrong hands which gives them a bad reputation, some of the worthy currencies like bitcoin are being used by hackers and drug dealers for illegal actions , because bitcoin gives you total anonymity since it does not ask you for your id so a 10 year old kid could use it. And that what makes it dangerous.

You think people did not use fiat for bad things? For illegal activities?
Anything always have a bad side , fiat or bitcoin has it
It's doesn't mean you cannot use it for a good things and automatically categorized as a dangerous thing
Cryptocurrency provide a lot of breakthough in world financial system
We just cannot realize that yet for now.

d-trixx

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I think that you need not be afraid of bitcoin and its future, and to those users who live in countries where the bitcoin banned. This is certainly a wild decision, but I think that the authorities can understand. They protect their own interests.

mikecgna

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Quote from: BingoDog on December 27, 2016, 09:09:23 AM

There is no danger in cryptocurrency, just some people or better to say governments are spreading irrational fear of it because they are afraid for their financial or maybe even political system. Cryptocurrencies offer progress and there is no harm in it. If everyone accepts their advantages it could be better for us all.

bitcoin system policy very different from that of banking systems and financial systems of states. It seems to me that freedom is under threat of bitcoin. I do not know what to expect, but in a few countries have a responsibility to use bitcoin.

Spirit2016

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Quote from: seven4smoke on December 28, 2016, 04:53:47 PM

I think that users bitcoin is not a long time will feel safe. The fact that the governments of those countries that prohibit the bitcoin will carry out attack on the privacy of users.

The network is very often discuss any hacking attempt. It seems that they are now more went on the hunt. So I worry about their wallets and coins. Bitcoin is the only good earnings.

seven4smoke

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I think that users bitcoin is not a long time will feel safe. The fact that the governments of those countries that prohibit the bitcoin will carry out attack on the privacy of users.

farl2web

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Quote from: avatar_kiyoshi on December 28, 2016, 03:43:50 PM

Quote from: rickadone on December 28, 2016, 12:47:22 PM

Quote from: BingoDog on December 27, 2016, 09:09:23 AM

There is no danger in cryptocurrency, just some people or better to say governments are spreading irrational fear of it because they are afraid for their financial or maybe even political system. Cryptocurrencies offer progress and there is no harm in it. If everyone accepts their advantages it could be better for us all.

We can’t deny that crypto-currencies are used for some bad things, and are used by the wrong hands which gives them a bad reputation, some of the worthy currencies like bitcoin are being used by hackers and drug dealers for illegal actions , because bitcoin gives you total anonymity since it does not ask you for your id so a 10 year old kid could use it. And that what makes it dangerous.

Fiat also has been used for buy illegal thing for over 20-50 years ago.
Bitcoin actually not totally anonymous, more precisely pseudonym, indeed it can be used for every age, but it's all about personal habit.
The main reason is the govs afraid of bitcoin network system which they can't control.

There's no dangerous thing about cryptocurrency, otherwise it's an awesome innovation which bring the economic system will be better.

I do not think that Fiat will be able to hold on as long. Analysts predict that the people very soon, for detyati years will abandon the real money in favor of digital.

avatar_kiyoshi

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Quote from: rickadone on December 28, 2016, 12:47:22 PM

Quote from: BingoDog on December 27, 2016, 09:09:23 AM

There is no danger in cryptocurrency, just some people or better to say governments are spreading irrational fear of it because they are afraid for their financial or maybe even political system. Cryptocurrencies offer progress and there is no harm in it. If everyone accepts their advantages it could be better for us all.

We can’t deny that crypto-currencies are used for some bad things, and are used by the wrong hands which gives them a bad reputation, some of the worthy currencies like bitcoin are being used by hackers and drug dealers for illegal actions , because bitcoin gives you total anonymity since it does not ask you for your id so a 10 year old kid could use it. And that what makes it dangerous.

Fiat also has been used for buy illegal thing for over 20-50 years ago.
Bitcoin actually not totally anonymous, more precisely pseudonym, indeed it can be used for every age, but it's all about personal habit.
The main reason is the govs afraid of bitcoin network system which they can't control.

There's no dangerous thing about cryptocurrency, otherwise it's an awesome innovation which bring the economic system will be better.

rickadone

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Quote from: BingoDog on December 27, 2016, 09:09:23 AM

There is no danger in cryptocurrency, just some people or better to say governments are spreading irrational fear of it because they are afraid for their financial or maybe even political system. Cryptocurrencies offer progress and there is no harm in it. If everyone accepts their advantages it could be better for us all.

We can’t deny that crypto-currencies are used for some bad things, and are used by the wrong hands which gives them a bad reputation, some of the worthy currencies like bitcoin are being used by hackers and drug dealers for illegal actions , because bitcoin gives you total anonymity since it does not ask you for your id so a 10 year old kid could use it. And that what makes it dangerous.

BingoDog

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There is no danger in cryptocurrency, just some people or better to say governments are spreading irrational fear of it because they are afraid for their financial or maybe even political system. Cryptocurrencies offer progress and there is no harm in it. If everyone accepts their advantages it could be better for us all.

lOvE mE forEvEr

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I think cryptocurrency is not danger because no country accept as legal payment. Now, many country assumpt Bitcoin same like others commodities like gold, stocks and others.

Kodok Bencot

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Yes I think it is very dangerous, if cyptocurrency use by the countries and when the country already can not control the full currency then the economy is easily controlled by a person or group.

deisik

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Quote from: Soros Shorts on December 26, 2016, 05:07:29 PM

Quote from: deisik on December 25, 2016, 06:49:45 AM

Honestly, I don't think that the banks would ever need to adopt the Bitcoin technology (i.e. the blockchain technology). I have yet to see anyone clearly and precisely explaining it to me how it can be really useful to the banks as compared with what they already have and using.

Here is one example. A lot of international interbank transfers occur on the SWIFT network. Banks need a BIC code to participate and connect to the network. It costs money for any bank to maintain a BIC, plus there is a per-message charge to send a transmission on the network. In this example a cross-border wire transfer requires an MT103 message: https://www2.swift.com/uhbonline/books/public/en_uk/al_2_1_autoc_inst_user_guide_20110520/b83.htm

The MT103 message is basically a formatted text file that is sent from the sending bank's computer to the recipient bank's computer. The cost for sending each MT103 is easily 100-1000x the cost of a typical Bitcoin transaction fee. The justification for such high fees is supposedly to guarantee message integrity and network security. Although SWIFT is backed by a consortium of banks, individual banks actually hate the monopoly that SWIFT currently has and would welcome an alternative option that they can use to send transaction messages amongst themselves (safely and securely) without paying SWIFT. This is why there is blockhain research happening on the sly

Do you really believe in this explanation?

Namely, that the high fees you refer to are really based on the effort put into guaranteeing message integrity and security? I think this is bullshit. They just chose to charge that high fees, but this has nothing to do with the message integrity and security itself. Do they use some quantum mechanical effects to make sure that the message is authentic? I guess no. Most likely, this is just a message signed by the signature of the issuing bank, which was given to this bank by the SWIFT corporation. It is basically the same digital signature that banks provide their clients with, usually free of charge

martino36

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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 do not know what the danger of cryptocurrency is. it's created to change the world and everybody is living in the digital world so we must accept it and it is a digital revolution in human life.

Harlot

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Quote from: delliaerd on December 27, 2016, 12:40:32 AM

Quote from: Kolder on December 26, 2016, 11:56:00 PM

I don't think that there is danger in bitcoin, what we should really fear is the users or the scammers so we need to do more research before joining any investing or trading transactions.

Scammers user usually bring our money leaving only promise good profit which we will get in future. For example scamming through exchanger have this some characteristics such as offering the lower exchange rate, promise anonymity or offering easier withdrawal but actually they not really that easy feature. All of that only fakes. So we must keep be careful with bitcoin, on the wrong hand bitcoin can become dangerous.

There is a simple solution for that just by simply avoiding all of it can save you a lot of trouble and headache. We all know that they are fake companies with fake investment schemes. And also we all know that as of the moment no companies really have an investment program for any cryptocurrencies out there. Just by simply holding your money this problem can be avoided by people.

delliaerd

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Quote from: Kolder on December 26, 2016, 11:56:00 PM

I don't think that there is danger in bitcoin, what we should really fear is the users or the scammers so we need to do more research before joining any investing or trading transactions.

Scammers user usually bring our money leaving only promise good profit which we will get in future. For example scamming through exchanger have this some characteristics such as offering the lower exchange rate, promise anonymity or offering easier withdrawal but actually they not really that easy feature. All of that only fakes. So we must keep be careful with bitcoin, on the wrong hand bitcoin can become dangerous.

merchantofzeny

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The way I see this is if the goverment try to control this, that could cause the users to dump their bitcoins, making it useless. I'm just new to bitcoin so I may not know the specifics but I doubt some government is behind this. Of course everyone's free to believe conspiracy theories.

Dudeperfect

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Quote from: raaajlucky on December 26, 2016, 11:36:12 PM

Quote from: angaper on December 26, 2016, 11:27:38 PM

I am also a bit scared about the possibility of becoming excessively dependent on our computers to manage our money and whole assets.

If these days when the bitcoin is worth $900, we are permanently facing continuous menaces of hackers and scammers to take our coins, I don't know what we could expect in the hypothetic scenario when the price of bitcoin arrives to $100,000 or one million dollars.

How the Bitcoin price increases like that, the problems also increase and hackers and scammers also increase. So the users must take for their coins. If the price is increased to 1 million, the dollar then I think our government will ban this cryptocurrency permanently because they will not get any income from this cryptocurrency.

The technology is secure enough to deal with hackers, but it is our responsibility to deal with scammers. Blockchain is almost near to impossible, so to hack bitcoins, hackers will have to hack our system or devices, so we must stay alerted and take safety precautions.

How about using fiat to avoid hackers?
It’s not about fiat or crypto. It’s about digital and non-digital so in the era where we are entering is wholly influenced by digital technology, and hence there is no option to avoid this change. There is an equal threat in fiat or crypto but since fiat is a controlled currency, the possibilities of loss are more.

Kolder

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Quote from: raaajlucky on December 26, 2016, 11:36:12 PM

Quote from: angaper on December 26, 2016, 11:27:38 PM

I am also a bit scared about the possibility of becoming excessively dependent on our computers to manage our money and whole assets.

If these days when the bitcoin is worth $900, we are permanently facing continuous menaces of hackers and scammers to take our coins, I don't know what we could expect in the hypothetic scenario when the price of bitcoin arrives to $100,000 or one million dollars.

How the Bitcoin price increases like that, the problems also increase and hackers and scammers also increase. So the users must take for their coins. If the price is increased to 1 million, the dollar then I think our government will ban this cryptocurrency permanently because they will not get any income from this cryptocurrency.

I don't think that there is danger in bitcoin, what we should really fear is the users or the scammers so we need to do more research before joining any investing or trading transactions.

densuj

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Quote from: angaper on December 26, 2016, 11:27:38 PM

I am also a bit scared about the possibility of becoming excessively dependent on our computers to manage our money and whole assets.

If these days when the bitcoin is worth $900, we are permanently facing continuous menaces of hackers and scammers to take our coins, I don't know what we could expect in the hypothetic scenario when the price of bitcoin arrives to $100,000 or one million dollars.

Well i think we won't becoming excessively dependent on computers to manage money and whole assets, because many people or developers whom make bitcoins becoming more easy on smartphone.
But I am more a bit scared we will be depend on the smartphone. While use bitcoin or related with cryptocurrency activity.

raaajlucky

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Quote from: angaper on December 26, 2016, 11:27:38 PM

I am also a bit scared about the possibility of becoming excessively dependent on our computers to manage our money and whole assets.

If these days when the bitcoin is worth $900, we are permanently facing continuous menaces of hackers and scammers to take our coins, I don't know what we could expect in the hypothetic scenario when the price of bitcoin arrives to $100,000 or one million dollars.

How the Bitcoin price increases like that, the problems also increase and hackers and scammers also increase. So the users must take for their coins. If the price is increased to 1 million, the dollar then I think our government will ban this cryptocurrency permanently because they will not get any income from this cryptocurrency.

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