The danger of the cyptocurrencies - page 26.

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Quote from: Xester on November 27, 2016, 01:16:59 AM

Quote from: myparentsdisownedme on November 27, 2016, 12:30:08 AM

Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

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

I also agree with it that the price of a currency has a say on a coins existence. The price implies how many and how much people patronize and use that kind of coin. So if the price is low it will not be very attractive as it is very risky. But time polished currency are more likely to survive and will attract more users.

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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Quote from: richmcrich on November 27, 2016, 11:14:02 AM

Quote from: Indrawan77 on November 26, 2016, 12:27:33 AM

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.

I would not say cryptocurrencies give better transaction than Fiat. They are actually slower compared to money remittances, for me I actually wait for more than 30 minutes before I received fully my Bitcoin. Also we can say Bitcoin is better because you won't spend anything to send money to who your sending it too. It is also portable but we can say it to Fiat too because we have now what is called cash cards and debit cards.

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Quote from: Indrawan77 on November 26, 2016, 12:27:33 AM

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.

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Quote from: Indrawan77 on November 26, 2016, 12:27:33 AM

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 don't think that even if the worlds payment systems get digitalized but they would not use bitcoin for that as bitcoin is not something that can be controlled by them, but they will surely generate something that will be under their control and bitcoin will still remain as an alternative currency.

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Quote from: dothebeats on November 27, 2016, 02:42:51 AM

Utopia and central governments for the whole world. Great, just greeeaaaat. I'm in for a fiat-less world but for a world with central government and authority responsible for "caring" for their people? Maybe in the next life, or how about no? I see cryptos as a tool for decentralization, but if it were to be used by the government just like fiat, then I'll just leave my idea and beliefs behind, then.

Could the government get decentralized too?

Or, rather, could the power get decentralized since government is all essentially about concentrating power in one (few) hands? On the flip side, Bitcoin was designed to be a decentralized currency, but we see that it is nevertheless getting heavily centralized over time (I refer to mining, before anything else). So, on a higher level of thinking, is true decentralization possible at all? Even gold ultimately ended up in a few hands with dust being spread over the planet

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Utopia and central governments for the whole world. Great, just greeeaaaat. I'm in for a fiat-less world but for a world with central government and authority responsible for "caring" for their people? Maybe in the next life, or how about no? I see cryptos as a tool for decentralization, but if it were to be used by the government just like fiat, then I'll just leave my idea and beliefs behind, then.

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Quote from: Xester on November 27, 2016, 01:16:59 AM

Quote from: myparentsdisownedme on November 27, 2016, 12:30:08 AM

Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

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

I also agree with it that the price of a currency has a say on a coins existence. The price implies how many and how much people patronize and use that kind of coin. So if the price is low it will not be very attractive as it is very risky. But time polished currency are more likely to survive and will attract more users.

you are right. instability of prices makes cyptocurrencies into something dangerous in the eyes of the beginner who wants to learn or invest their money in the form cyptocurrencies. however, if they can take advantage of it, I think it is dangerous to become the most profitable in the world cyptocurrencies

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Quote from: myparentsdisownedme on November 27, 2016, 12:30:08 AM

Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

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

I also agree with it that the price of a currency has a say on a coins existence. The price implies how many and how much people patronize and use that kind of coin. So if the price is low it will not be very attractive as it is very risky. But time polished currency are more likely to survive and will attract more users.

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Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

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

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Quote from: Shinpako09 on November 26, 2016, 05:08:42 PM

The danger is the price it could be fall anytime and back into nothing. But I guess whales wont allow that to happen. They have invested so much money in btc so the chance of btc getting back into nothing is no chance atm.

what's those whales can do then. their funds are not unlimited yet they can't prevent what's going on with the price whether it's falling or increasing.
those whales who invested on bitcoin are actually seeking for the volatility so they can grow their funds and add its value by doing some price margin trading. they're not going to hold the price and just let it stay at the same place for a long time

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The danger is the price it could be fall anytime and back into nothing. But I guess whales wont allow that to happen. They have invested so much money in btc so the chance of btc getting back into nothing is no chance atm.

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Quote from: Xenophoto on November 26, 2016, 04:09:34 AM

Quote from: serjent05 on November 25, 2016, 09:06:33 PM

Quote from: agatha818 on November 25, 2016, 06:53:55 PM

hello sir! I have been investing bitcoin for years and im glad to say, im satisfied with having crypto money in my computer, there maybe some stealing happened before on bitcoin, like some hackers and stuff, but my crypto money was protected and safe. carrying paper money in my pocket is a lot of responsibility to me.

Aside from that carrying paper money will get the attention of those thief and robbers once they have known you have a large sum in your pocket. Aside from that paper money is harder to keep unnoticed especially if it s a large sum since it is too bulky, You can have them in your bank account but the problem is your money is now regulated by bank.

Bulky? Why? Do you carry one hundred pieces of one dollar if you want to carry one hundred dollars? No. I think that's the reason why there are bigger denominations with the exact same size. Do you carry one hundred pieces of 1 centavo so you can have 1 dollar? No. It's not bulky if you're going to carry higher denomination. Also, how would people know that you're carrying a lot of cash with you? It's hidden in your bag and wallet. Have they somehow developed the sixth sense that let's them see through opaque materials? It's only common sense to not bring a lot of cash when you're in public.

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You can have them in your bank account but the problem is your money is now regulated by bank.

Your money is already regulated even when it was in fiat form. No difference if you put it in the bank.

In the United States they decommissioned any denomination bill larger than a 100 dollar note. They did this specifically to make it difficult to transport larger sums of cash....The US regulates it's cash pretty strictly and possessing more than 10k cash without proper documentation is justification to have your cash confiscated and given to the state. If you don't want to use a bank in the US, you're pretty much screwed because 10K dollars is not a lot of money here. If you're the type of person who likes to stash you're money in your mattress rather than trusting a bank....you are at risk of losing it all to the state who then uses the money to purchase military type equipment for domestic policing. So, yes, money is bulky! Try carrying a few hundred K thru an x-ray machine in an airport and you'll understand. <---- Not that I've ever known anybody who was actually crazy enough to attempt such a stunt, of course.

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Quote from: azguard on November 26, 2016, 08:54:41 AM

Quote from: bitcoinisbest on November 26, 2016, 06:52:52 AM

I feel more dangerous are your altcoins which comes for few days/months and then will go to almost zero value. People invest considering a huge return possible and may get it in short time but if you see in long run not many are established or exists which started 2 years or 1 year before.

from all altcoin on the market every now and then only few survives the openings and remain to be stable and good with good support
only few coin are here that can be on this list some are here for long others are here for some smaller time but still are good and got good community and support

The other crypto currency except bitcoin many which can not survive, and vanish from any exchanger site. I think this is can be happen because there is no interest person with that coin or because the coin have not good quality.
Even though still many crypto currency besides bitcoin that popular enough and many people interested to invest their money on it so much.

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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.

Nothing in this world you can relay on, if your wallet hacked, it's gone. If economy crisis happen or worse you evicted from your home/land/country due to world war 3 or something like that, all you have gone (except bitcoin), but we consider the most safety way to storage our wealth.
That's why the best way to divide your wealth into bitcoin, property, gold, fiat money, banks, jewelry, etc, all of those just in case.

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Quote from: bitcoinisbest on November 26, 2016, 06:52:52 AM

I feel more dangerous are your altcoins which comes for few days/months and then will go to almost zero value. People invest considering a huge return possible and may get it in short time but if you see in long run not many are established or exists which started 2 years or 1 year before.

Altcoins are all pump&dump ponzi scheme. Unless you join very very early stage and hold them for a long time, you won't profit anything. Even if you do so, the profit is not guaranteed. It is just a lottery ticket.

And sooner or later, that shit coin will lose attention. Examples: Litecoin, Monero, Ethereum, Zchash... They all over. And there will be many more. They are the legal ponzi schemes.

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Quote from: Red-Apple on November 26, 2016, 08:53:11 AM

Quote from: Xenophoto on November 26, 2016, 08:38:46 AM

The price should move significant enough for you to make profits. Remember that the buy and sell price aren't the same and sometimes it has a big discrepancy. Make sure that you're not just fooling yourself by selling/buying the coins and then ending up with the exact same amount at the end of the day or even worse less than what you had.

The problem with 2FA is that what if the hacker lives near you or the hacker gets access of your phone. When your phone gets snatched, you should say good bye to your bitcoins. You should change your password in blockchain or any wallet app that you're using before the snatcher figure out that you have a huge amount of bitcoins in your wallet.

2FA is the second layers of security that you put for yourself and this means the chances are so slim.

someone who is robbing you should first be familiar with bitcoin, then he should steal your phone then he should also hack your password then he should do all these before you get back to your back up and empty your wallet. now you see how the chances are nearly zero?

I don't know about the apps that you're using but mine is coins.ph. Your wallet is ready to use anytime. You just have to log in once and the next time you open the app, no password is needed anymore. The 2FA is already on your phone. When he open that app, he'll know for sure that it's about money because the conversion into fiat currency is also shown there.

But I guess you're still right, even though the app doesn't have a password, your phone has. He has to bypass that first. Not sure if there's a method to bypass a phone's password other than factory resetting the phone which would remove the app too. But there are people who do not set password on their phone though.

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Quote from: bitcoinisbest on November 26, 2016, 06:52:52 AM

I feel more dangerous are your altcoins which comes for few days/months and then will go to almost zero value. People invest considering a huge return possible and may get it in short time but if you see in long run not many are established or exists which started 2 years or 1 year before.

from all altcoin on the market every now and then only few survives the openings and remain to be stable and good with good support
only few coin are here that can be on this list some are here for long others are here for some smaller time but still are good and got good community and support

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Quote from: Xenophoto on November 26, 2016, 08:38:46 AM

Quote from: Harlot on November 26, 2016, 07:30:07 AM

Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker

I don't consider the volatility of Cryptocurrencies as a kind of danger. For me it is a kind of way for traders to make a profit out of it. It depends on when the trader will buy and well will he sell. For its volatility we can say that a trader can make dozens of transaction to take profit as price changes can happen more than once a day. Also hackers are easy to avoid with the right wallet, my wallet for example sends me a text message with a verification code every time I or Someone else will access it on a different device.

The price should move significant enough for you to make profits. Remember that the buy and sell price aren't the same and sometimes it has a big discrepancy. Make sure that you're not just fooling yourself by selling/buying the coins and then ending up with the exact same amount at the end of the day or even worse less than what you had.

The problem with 2FA is that what if the hacker lives near you or the hacker gets access of your phone. When your phone gets snatched, you should say good bye to your bitcoins. You should change your password in blockchain or any wallet app that you're using before the snatcher figure out that you have a huge amount of bitcoins in your wallet.

2FA is the second layers of security that you put for yourself and this means the chances are so slim.

someone who is robbing you should first be familiar with bitcoin, then he should steal your phone then he should also hack your password then he should do all these before you get back to your back up and empty your wallet. now you see how the chances are nearly zero?

Xenophoto

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Quote from: Harlot on November 26, 2016, 07:30:07 AM

Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker

I don't consider the volatility of Cryptocurrencies as a kind of danger. For me it is a kind of way for traders to make a profit out of it. It depends on when the trader will buy and well will he sell. For its volatility we can say that a trader can make dozens of transaction to take profit as price changes can happen more than once a day. Also hackers are easy to avoid with the right wallet, my wallet for example sends me a text message with a verification code every time I or Someone else will access it on a different device.

The price should move significant enough for you to make profits. Remember that the buy and sell price aren't the same and sometimes it has a big discrepancy. Make sure that you're not just fooling yourself by selling/buying the coins and then ending up with the exact same amount at the end of the day or even worse less than what you had.

The problem with 2FA is that what if the hacker lives near you or the hacker gets access of your phone. When your phone gets snatched, you should say good bye to your bitcoins. You should change your password in blockchain or any wallet app that you're using before the snatcher figure out that you have a huge amount of bitcoins in your wallet.

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Quote from: BlackBaron on November 25, 2016, 09:25:34 PM

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker

I don't consider the volatility of Cryptocurrencies as a kind of danger. For me it is a kind of way for traders to make a profit out of it. It depends on when the trader will buy and well will he sell. For its volatility we can say that a trader can make dozens of transaction to take profit as price changes can happen more than once a day. Also hackers are easy to avoid with the right wallet, my wallet for example sends me a text message with a verification code every time I or Someone else will access it on a different device.

Topic: The danger of the cyptocurrencies - page 26. (Read 45220 times)