The danger of the cyptocurrencies - page 27.

ivanst776

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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.

If there is no other option then I think that I will continue using bitcoin because it has a good potential to be a very successful currency in the near future.

Cashless is going in every country and banks "forces" their customers to use as much their debit/credit cards and as less as possible the cash.

bitcoinisbest

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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.

n0ne

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Quote from: Caladonian on November 26, 2016, 04:58:01 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

its your personal security that you needed to adjust but with the whole community i think cryptocurrency already have their security being secured enough.

Bitcoin as a form of currency, investment and transaction processor is highly secure than the centralized banking world wide. If it is not secure countries won't make plans to regulate bitcoin within their country.

jacafbiz

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I think the danger is people finding out later that 99.9% of these projects have no place in real market, then the speculative market crash and call it a day.

Caladonian

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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

its your personal security that you needed to adjust but with the whole community i think cryptocurrency already have their security being secured enough.

Xenophoto

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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.

Quote

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.

Indrawan77

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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

BlackBaron

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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 Cry

serjent05

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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.

cjmoles

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Quote from: deisik on November 25, 2016, 05:26:26 PM

Quote from: cjmoles on November 25, 2016, 05:01:36 PM

Quote from: deisik on November 25, 2016, 04:47:05 PM

Quote from: cjmoles on November 25, 2016, 01:19:22 AM

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion. If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money. It's safer than cash! Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile?

Strictly speaking, I didn't say that. But if you put it this way, then yes, it is almost certainly easier to confiscate money from your bank account, but with cash your mileage (i.e. government's) may vary. But you can rest assured that if they come to your door eventually, they will know how many bitcoins you have, whence you got them from and where you moved them to. Ross Ulbricht, otherwise known as Dread Pirate Roberts, be your guest mate...

And probably many others that we might not have been given an opportunity to hear about

Quote from: cjmoles on November 25, 2016, 05:01:36 PM

I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth

What truth should I admit?

It just seemed that you were taking the position that bitcoin was easier to confiscate by the government than fiat. And that bitcoin was more readily susceptible to government control than our current systems.

By the way, they traced Ulbricht's bitcoin because he was sloppy with his security....they seized his laptop, got access to his addresses, and then traced the transactions on the public ledger back to Silk Road. He willingly did things that compromised his identity first....It wasn't like he had to expose his identity due to KYC/AML regulations....He used his real name in the gmail address he used to communicate with operatives on public forums which is what triggered the confiscation of the laptop and lead to his bitcoin addresses being linked to the Silk Road transactions. They didn't trace the bitcoin back to his identity....they traced his identity back to the bitcoin. And, none of that would have happened if he wasn't first engaging in illegal activities that could be associated with his personal identity.

jak3

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cryptocurrencys are not so danger except they are not stable like bitcoin, are are bot even developed or mined in the huge rate like bitcoin. there security is lot more lower they can even become collapse or can reach zero peice but bitcoin can not

agatha818

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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.

deisik

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Quote from: cjmoles on November 25, 2016, 05:01:36 PM

Quote from: deisik on November 25, 2016, 04:47:05 PM

Quote from: cjmoles on November 25, 2016, 01:19:22 AM

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion. If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money. It's safer than cash! Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile?

Strictly speaking, I didn't say that. But if you put it this way, then yes, it is almost certainly easier to confiscate money from your bank account, but with cash your mileage (i.e. government's) may vary. But you can rest assured that if they come to your door eventually, they will know how many bitcoins you have, whence you got them from and where you moved them to. Ross Ulbricht, otherwise known as Dread Pirate Roberts, be your guest mate...

And probably many others that we might not have been given an opportunity to hear about

Quote from: cjmoles on November 25, 2016, 05:01:36 PM

I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth

What truth should I admit?

Capradina

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Quote from: cjmoles on November 25, 2016, 05:01:36 PM

Quote from: deisik on November 25, 2016, 04:47:05 PM

Quote from: cjmoles on November 25, 2016, 01:19:22 AM

Quote from: Doms on November 25, 2016, 12:54:56 AM

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion. If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money. It's safer than cash! Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile? I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth. If it makes me a "douche bag" to enjoy the privileges that bitcoin affords me, then so be it. You can keep your government controlled money....bitcoin is a far more secure platform.

Yeah, that is certainly true. Many people who sometimes don't see the other side of the bitcoin so what they say sometimes the less fit than what happened. So it is something that sometimes makes us saturated or tired to explain. But I'm sure if they know for sure what can be done in the bitcoin then they won't do or speak in a way that bad!!

cjmoles

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Quote from: deisik on November 25, 2016, 04:47:05 PM

Quote from: cjmoles on November 25, 2016, 01:19:22 AM

Quote from: Doms on November 25, 2016, 12:54:56 AM

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion. If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money. It's safer than cash! Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile? I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth. If it makes me a "douche bag" to enjoy the privileges that bitcoin affords me, then so be it. You can keep your government controlled money....bitcoin is a far more secure platform.

deisik

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Quote from: cjmoles on November 25, 2016, 01:19:22 AM

Quote from: Doms on November 25, 2016, 12:54:56 AM

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion. If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money. It's safer than cash! Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul altogether

Caladonian

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Quote from: outatime1 on November 24, 2016, 10:12:14 PM

We don't know for sure who is behind the creation of Bitcoin but I doubt it is anything other than a person or group of people that just wanted some independence from banks and governments in terms of saving and spending money.

the intention to make everything fair and not been regulated by the corrupt government for sure most of us here believes that bitcoin really making its way to be noticed the only thing is we just needed to help to keep the chain move forward and avoid being controlled by numbers of groups and manipulate the value.

StarofBTC

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Quote from: maister77777 on November 23, 2016, 06:30:17 PM

I think still remember the case of Bitfinex, which took place this summer. Nobody thought that the hack th stolen. Many users have lost their bitcoin, but a lot of the first sold in fear of falling prices. But nothing can be done. But the fact remains that the risk is always present.

There is always a chance that every whole system can go scam or get hacked as we have a live example of bitfinex, so if we want to promote bitcoin and gain the confident of the people such kind of problems must be solve on priority basis. Otherwise the image of bitcoin can be effect more.

cjmoles

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Quote from: Doms on November 25, 2016, 12:54:56 AM

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion. If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money. It's safer than cash! Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Doms

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If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Topic: The danger of the cyptocurrencies - page 27. (Read 45201 times)