Topic: The danger of the cyptocurrencies - page 25. (Read 45220 times)
Bitcoin user really has no protection from thieves and swindlers. This is the only and very important feature of Bitcoin.
Representatives of the Central Bank of Kenya, published in a local newspaper ad that warned people in the country about the dangers of using Bitcoin. The declaration noted that "Bitcoin and similar products are not legal tender in the territory of Kenya, and are not regulated." And will be prosecuted by law.
By which law exactly?
And what does this law say provided it actually exists in the first place, of course? Such threats look very much like what the Russian government had been doing for years in respect to Bitcoin. In fact, they had been doing basically nothing, only threatening local Bitcoin users with severe penalties including imprisonment. Things got even more hilarious when the former minister of economics and trade of Russia started complaining that he bought a few bitcoins himself and then they dropped in price
Representatives of the Central Bank of Kenya, published in a local newspaper ad that warned people in the country about the dangers of using Bitcoin. The declaration noted that "Bitcoin and similar products are not legal tender in the territory of Kenya, and are not regulated." And will be prosecuted by law.
By which law exactly?
And what does this law say provided it actually exists in the first place, of course? Such threats look very much like what the Russian government had been doing for years in respect to Bitcoin. In fact, they had been doing basically nothing, only threatening local Bitcoin users with severe penalties including imprisonment. Things got even more hilarious when the former minister of economics and trade of Russia started complaining that he bought a few bitcoins himself and then they dropped in price
Representatives of the Central Bank of Kenya, published in a local newspaper ad that warned people in the country about the dangers of using Bitcoin. The declaration noted that "Bitcoin and similar products are not legal tender in the territory of Kenya, and are not regulated." And will be prosecuted by law.
Yes one of our more profitable trades this year was in the cryptocurrency Bitcoin but the impractical side of the disruption mentality is a problem. But why should the cryptocurrencies are in danger? Is their any reason to be in danger? Then if that so? Is there solutions or ways to prevent such things?
i think if we talk about bitcoin, bitcoin is not in danger as bitcoin is becoming more and more stronger that its previous position, because people are entering joining bitcoin and making it more stronger. therefore there is nothing wrong to bitcoin. the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker
so sad it happen on me once all my bitcoin got stolen
Yes there is a little risk investing in bitcoin but that being said that people are making good profits just by investing in the price of Bitcoins when the price is low and selling them when the price is high I am personally doing this for an year now and I can easily say that this business is very profitable if done professionally. so sad it happen on me once all my bitcoin got stolen
I heard that the US government is using a special radioactive dye on the $100 notes. So if lots of them stack together satellite can easily spot where they are located. Besides that, all banknotes are numbered so your activity is always under surveillance. For Bitcoin you can at least hide behind tor, or just use altcoins
Such banknotes would kill you pretty quick if they are to be spotted by reconnaissance satellites. In fact, they should be miniature Chernobyls themselves. On the other hand, a lot of people have Geiger counters, and that would quickly have become known if your words had even a smallest grain of truth in them...
In short, think better next time
Government might even put nano robots inside paper money to exert control on you 
They seem to have been right after all about cancelling the BrainDead
You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.
Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.
There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:
If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.
What if bitcoin price rises to 1.000.000$ 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.
We should not worry. Ofcourse it won't happen. The real money and gold value won't get ruined because cryopto currency.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.
Also, government and citizens won't let that happen.
Cryptocurrencies are used to profit and used for transactions. Not for everyday's mode of payments.
Hacking and forgetting passwords are the de-merits of online currency
Though hacking can be an headache sometimes when you get into this but i don't see forgetting password as a demerit really because i feel that is our own fault if we forget the password without having a back up for that, we should always keep our passwords somewhere in order to get them back when we may forget them.
Yes one of our more profitable trades this year was in the cryptocurrency Bitcoin but the impractical side of the disruption mentality is a problem. But why should the cryptocurrencies are in danger? Is their any reason to be in danger? Then if that so? Is there solutions or ways to prevent such things?
I heard that the US government is using a special radioactive dye on the $100 notes. So if lots of them stack together satellite can easily spot where they are located. Besides that, all banknotes are numbered so your activity is always under surveillance. For Bitcoin you can at least hide behind tor, or just use altcoins. Government might even put nano robots inside paper money to exert control on you
Bitcoin wont go anywhere as long we the community keep trading and doing business with it. Hackers are able to acess any governement place and edit or steal any fiat from banks, this woulndt be the first time those happen, bitcoin till today hasnt been hacked, the huge security around bitcoin make it safe. Even if the price drops something i doubt can get back lower the 500 dollars, it would be just bitcoin cheap, knowing its potencial.
You seem to be confusing something
Or quite a few different things, in fact. Stealing money from someone's bank account is very much alike stealing bitcoins from someone else's wallet. If you mean hacking a Central bank servers and adding a few billion dollars to circulation, you are pipe dreaming. To do that you would have to get physical access to these servers and know how the system is organized and operated internally. In any case, all your actions will be reverted as soon as they are discovered
Bitcoin wont go anywhere as long we the community keep trading and doing business with it. Hackers are able to acess any governement place and edit or steal any fiat from banks, this woulndt be the first time those happen, bitcoin till today hasnt been hacked, the huge security around bitcoin make it safe. Even if the price drops something i doubt can get back lower the 500 dollars, it would be just bitcoin cheap, knowing its potencial.
Price. Since bitcoins price is going upwards. Sure many are attracted to invest in bitcoin since they are assuring they can gain profit from the fluctuation. But imagine the price of it drops to $ 400 ?? Do you think it will be successful? Well for me not. Especially to those who invested to buy BTC at a $700 rate. Soon it will be a dead coin if that happens. Again if that happens
There is no reason to think so
If the price goes down to $400 (which is quite possible, by the way), it will be back to where it was just about a year ago. You claim that Bitcoin will be soon dead after that, while Bitcoin didn't die when its price collapsed 6 times from around $1,200 down to $200 in 2014, and nothing had happened. But right now it should necessarily die, when it's got stronger and has more ground under its feet?
the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker
Yeah not that many with BTC but yeah prolly with others
Yeah, those two are the main danger of Crypto-currency. I will add the scammed transactions cannot be bring back once it is in the blockchain already.
Prone to Hacking. We all know the many of or almost of us are using internet everyday. Not all of that users has a good intention. Some uses it to steal from others, and hackers are the very scary of them all. They are very much knowledged about cyberworld and can penetrate securities to steal from it, or to ruin something.
Price. Since bitcoins price is going upwards. Sure many are attracted to invest in bitcoin since they are assuring they can gain profit from the fluctuation. But imagine the price of it drops to $ 400 ?? Do you think it will be successful? Well for me not. Especially to those who invested to buy BTC at a $700 rate. Soon it will be a dead coin if that happens. Again if that happens
It will be impossible to be able to remove fiat usage, crypto currencies help us to move to a better transaction, digital transaction will be future transaction where it is safer to do transaction without bringing cash and bitcoin has bring it to better level, which is anonymous transaction, so i am not agree crypto currencies bring danger
To me noting is impossible in this world, so it can also be possible that a time will come when all the people will use bitcoin for completing their need and bitcoin will then also provide every facility to them therefore I think then people will not feel the need to use fiat and its importance will be decreasing from time to time and finally will become last forever. 
Cryptocurrencies could only represent danger to banks and governments. In fact they are not the real danger but some banks and governments see them this way. But for everyone else they are not the danger but the chance for different financial system, independent and free.
I think the same thing! Cryptocurrencies are a threat to the banking system, which has created a huge bubble. They can't longer find more ways to fraud and are afraid that cryptocurrencies will beats this bubble. Sooner or later it will happen, and then finally we will be able to live normally.
Cryptocurrencies could only represent danger to banks and governments. In fact they are not the real danger but some banks and governments see them this way. But for everyone else they are not the danger but the chance for different financial system, independent and free.
It will be impossible to be able to remove fiat usage, crypto currencies help us to move to a better transaction, digital transaction will be future transaction where it is safer to do transaction without bringing cash and bitcoin has bring it to better level, which is anonymous transaction, so i am not agree crypto currencies bring danger
I also agree with you e-currencies are actually bringing less danger to the transactions and especially bitcoins because when we are using PayPal there is a risk of chargeback by scammers. But with bitcoins that is removed so I completely disagree that the bitcoins are bringing any sort of risk in fact I think if all the transactions are done in bitcoins then there won't be any issues of taxes and scams.
the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker
Yeah not that many with BTC but yeah prolly with others
That's true, if the was not high than the different national currencies, bitcoin would have not got such a big attention or acceptance as seen at the present. Many users hesitate to use it, because of its decentralization but they need to understand that nobly because of decentralization and growth speculation we've got such an increased price for bitcoin than most other digital currencies.
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