The danger of the cyptocurrencies - page 28.

Invulner

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Invulner

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.

Why would this scare you? I'd rather be dependent on computers that do not need to be trusted to run smoothly than on humans who have greed that falters then and makes them do runaway scams.

Bitcoin is decentralised so all you need to trust is the network. You don't need to trust satoshi to be working 24/7.

Snorek

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Quote from: Doamader on November 24, 2016, 06:34:00 PM

We do need machines, and computers does control them, how can you make an exam to know what is wrong with your body? Cryptocurrencies are bringing the best things to the world, returning to the people the power to choose and without any middle man between the transactions.

That is the final goal of every cryptocurrency. I am afraid that we are not there yet. Instead we are now in the earliest stage of adoption where cryptocurrency is still technical novelty.
It is used rather as complementary currency/asset/investment more than a full fledged monetary system. We still need bunch of satellite services to use bitcoin: exchanges, payment converters/processors.
We don't know if we will ever reach the point where cryptocurrency can be used in a way FIAT is used today.

BitcoinPC

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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.

Actually, we should see what is happening now, it doesn't matter what is going on and what has done in the past, I mean we should see in the present, and so far about bitcoin, so bitcoin has a good time and also many people are doing investment in it, and earn from it, So why we worried about the rumors, and believe it in the future, bitcoin live long life and achieve many success.

bamboylee

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I will not worry about this too much. This can happen but I doubt it will happen in my lifetime. Fiat has been here for a very long time and I doubt it will be phased out without a fight. And if it does happen, I think the computers will be too advanced to worry about anything.

outatime1

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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.

dearbesz1219

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Quote from: ABCbits on October 01, 2016, 06:21:47 AM

How many time people created thread like this?

We don't care about who behind this project or who is Satoshi Nakamoto because we know that bitcoin is decentralized and you guys know how it works. Maybe you can trust in bitcoin if you know about programming stuff and find out how bitcoin works.
Maybe depends on computer might scare you, but people fix and improve everything overtime and on top of that bitcoin is open source, so more people can contribute on it.

Also, i think gold still useful even if cryptocurrency become the only currency in the world.

True, I think this question has been asked before, however, it really doesn't matter who behind this things at all. For what important right now is that bitcoin or some other crypto currencies which who are legit of course helped a lot of people all around the world whether it is a future money or not.

albertorma

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I don't think governments would accept bitcoin as main currency easily, because it's hard to control, but I think bitcoin being the main currency, would be the best for bitcoin. OFC govs would try to control everything as possible, but this would also mean bigger community, lot of new ideas, accepted everywhere, etc

Doamader

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We do need machines, and computers does control them, how can you make an exam to know what is wrong with your body? Cryptocurrencies are bringing the best things to the world, returning to the people the power to choose and without any middle man between the transactions.

OrangeII

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I do not know, I guess cryptocurrency always bring benefits to the people who actually use it, because it can make them generate a lot of money. Well, perhaps the only thing that makes it become dangerous is, because the transaction is extremely difficult to be detected so as to make illegal transactions to be smooth

Xester

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Quote from: one-day0 on November 23, 2016, 04:44:37 PM

Quote from: berserkinterbuy on November 23, 2016, 03:56:51 PM

Quote from: deisik on November 17, 2016, 03:15:08 PM

Quote from: Daffadile on November 17, 2016, 02:02:22 PM

This reminds me alot of the gun argument people have. A gun cannot kill a person alone. It needs a human being behind it to load it and aim it and then shoot it. You cannot blame the gun. If they ban guns then they will just use some other weapon. Same with bitcoin. I don't really seen any dangers of bitcoin. If you talking about the black market well.... That is nothing new that has been going on for thousands of years. May the danger of bitcoin is sending to the wrong address ? >.<

You miss the whole point of that argument

Guns are better than baseball bats, while baseball bats are better than bare fists. With a good gun you can reach and touch someone half a mile away (or even farther). You can do basically nothing with your fists or bat if the guy you want to do away with is properly guarded. Could Lee Oswald kill John Kennedy if he hadn't had a sniper rifle? I guess no. That's why they want to ban guns, and that's why they might want to ban Bitcoin in particular and the blockchain technology in general

The most important thing that you need to be afraid of it that they can use bitcoin for criminal purposes, and is not cryptocurrency became an officially recognized currency in the world, there is a danger in the ban.

I'm more worried about the lack of legal support bitcoin users. While on the other hand in the registration data need purse. So everything should be legal.

Yes, this things are always running in my mind. The lack of support from government in terms of law on bitcoins criminals are really dangerous from the community. Another thing that dangerous from using cryptocurrency was since we are using technology, what if it crash? Or it has an error, that was possible too. Hacking of account and stealing was also another thing to be worry about.

Snorek

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Quote from: mindrust on October 01, 2016, 03:52:50 AM

Being dependent so much on computers just scares me.

We can't go back in time anymore. Computers are part of our lives and nothing will change that. You are depending on computer more than you are even aware, everyday.
In case computers would cease to exist: global war, huge EMP blast, Sun's electromagnetic waves reaching critical amount etc. do you really think that FIAT money would retain it's value?
I believe both Bitcoin and FIAT of your choice would be useless in the same way then.

anasis

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Quote from: hase0278 on November 24, 2016, 07:53:40 AM

Seeing something like the situation OP mentioned is scary, since it will be easy for some to interfere with someone's money especially those who are very skilled in computer hacking and stuff about computer. Also it would make easier for government to rip our moneys instantly if they want too by hiring a skilled hacker. It will just ease paying something when you buy since you can send it easily, but the security it have right now I think is not that secure against skilled computer hackers. I hope that before that happens, bitcoin will tight up their security systems more and that thing happening will not happen years from now it will take a long time.

The first thing the government can do is to limit the possibilities and user rights. Very strange is if they do not go to the people to pay taxes.

Rinder

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Looks like op is scary of computers control, i do believe he had saw some films about the machines that does wanna to kill and control humans, anyway we wont swicht to crytpocurrencies from fiat, we will have always both. Bitcoin wont reach 1 million dollars value, because the most people that has bitcoin arent milionaries, are regular people, and the milionaires in the general dont use or have any interest at bitcoin. Bitcoin might reach maybe 5000 dollars on the next 100 years but above those i dont believe.

hase0278

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Seeing something like the situation OP mentioned is scary, since it will be easy for some to interfere with someone's money especially those who are very skilled in computer hacking and stuff about computer. Also it would make easier for government to rip our moneys instantly if they want too by hiring a skilled hacker. It will just ease paying something when you buy since you can send it easily, but the security it have right now I think is not that secure against skilled computer hackers. I hope that before that happens, bitcoin will tight up their security systems more and that thing happening will not happen years from now it will take a long time.

maister77777

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Quote from: cjmoles on November 23, 2016, 06:20:07 PM

I think that the OP here is underestimating the value of what the blockchain has to offer and is over simplifying the concept of of the functional value of the currency as a whole. It goes back to the notion of what a currency is meant to accomplish....is it a measure to store value, a means to exchange goods and services, a device to control populations, or mixture of all those aspects? When we go back and look at some of the philosophies that encouraged the creation of the blockchain from the beginning, it's evident that what we have now and the altruistic reasoning that initially created it, differ significantly....Those differences pose the most significant dangers in my opinion. Are the cryptocurrencies vehicles which promote greed, power, and corruption, or are the cryptocurrencies mechanisms which have the power to promote social, political, and economic changes? I believe that the blockchain technologies will provide the people with a means to re-establish control over themselves, as opposed to allowing themselves to be controlled by centralized bodies....The cryptocurrencies are disruptive to the oppressive techniques of the ruling classes....they're dangerous to them and an asset to the people.

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.

cjmoles

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I think that the OP here is underestimating the value of what the blockchain has to offer and is over simplifying the concept of the functional value of the currency as a whole. It goes back to the notion of what a currency is meant to accomplish....is it a measure to store value, a means to exchange goods and services, a device to control populations, or mixture of all those aspects? When we go back and look at some of the philosophies that encouraged the creation of the blockchain from the beginning, it's evident that what we have now and the altruistic reasoning that initially created it, differ significantly....Those differences pose the most significant dangers in my opinion. Are the cryptocurrencies vehicles which promote greed, power, and corruption, or are the cryptocurrencies mechanisms which have the power to promote social, political, and economic changes? I believe that the blockchain technologies will provide the people with a means to re-establish control over themselves, as opposed to allowing themselves to be controlled by centralized bodies....The cryptocurrencies are disruptive to the oppressive techniques of the ruling classes....they're dangerous to them and an asset to the people.

MONKEYJUNK

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What if the government controls the fiat currency, credit cards and all stuffs like this?

Oh, they control!

Cryptos are other world and cryptos and digital currency isn't the same.

SmirnoffVany

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The danger lies for bitcoin in the bitcoin, in the format in which it currently exists. Anonymity can sometimes act as a negative factor that attracts different people who can take advantage of it.

Yutikas_11920

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Quote from: karawantbtc on November 23, 2016, 04:46:34 PM

I dont understand why people still think Govs can stop bitcoin. It is impossible for them to do that. Just like the community is dealing with the scaling situation, it would only be a matter of time before we had a work around if the Govs tried to stop it. For example there is talk about adding anonymity to bitcoin. Govs cant stop guns, drugs, prostitution or bitcoin.

It all depends on the situation in the future. If in the future the bitcoin is already showing its original face and looks that bitcoin has the potential of very profitable then it's not going to happen and all the things you say will turn into a support bitcoin. So this all is not a big problem if indeed in the future growth of the bitcoin is very good and does not harm the

karawantbtc

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I dont understand why people still think Govs can stop bitcoin. It is impossible for them to do that. Just like the community is dealing with the scaling situation, it would only be a matter of time before we had a work around if the Govs tried to stop it. For example there is talk about adding anonymity to bitcoin. Govs cant stop guns, drugs, prostitution or bitcoin.

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