The danger of the cyptocurrencies - page 3.

Fatanut

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Quote from: UCHCHILD on March 22, 2017, 09:36:10 PM

Danger of cryptocurrencies?
The limit of its users, they cannot handle who is the users of bitcoin, a young or adult, the danger there is they can access anything they want illegal.

That's outside the topic of cryptocurrencies. I've never found someone who's been lurking around bitcointalk, reddit, or any other forum and then just end up being somewhere in the deep web. Since you have to install TOR browser first and all that, you can't simply end up going to the deep web and have access to illegal stuffs "accidentally". You had a choice as an individual. You can't blame that to bitcoins because it's simply a currency that was made for us to have transactions with other people around the world.

Jansaa

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When people need it, it's valuable, otherwise you have nothing, not like gold or diamond

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Quote from: rickadone on March 23, 2017, 12:02:07 AM

Quote from: richardsNY on March 21, 2017, 02:41:15 PM

Quote from: DarkIT on March 21, 2017, 12:59:48 PM

I guess the biggest problem posed cryptocurrencies just had a major impact on the government, because it does not create a government benefit, only the illegal transactions that should be stopped. but, for a businessman, I think most of the most cyptocurrencies provides a great advantage.

Crypto as it is right now, is too small to form somewhat of an impact on the governments. But that obviously will change in the coming years as this industry will grow larger and larger. I think that's exactly why they start putting up all kinds of regulations. It means that things are getting serious now. It's not 2011/2013 anymore where you could just buy Bitcoin, trade it, cash it out, etc, without any problems. Now even the smaller exchanges force people to verify themselves according to the various levels of verification they work with.

I agree, with the bitcoin value increasing over time and more people starting to invest in use it to make a ton of money there is no doubt that governments will start imposing some financial laws on people making money from bitcoin, in other words we will have to start paying taxes to governments for every bitcoin we own, other threats is that cryptocurrency are used without id or any personal verification which means it can be used not only for illegal things like buying drugs or hacking but also for frauds and bribes which imposes a serious problem for governments.

That will not happen too soon yet, the users of bitcoin is not that big to alarmed the government, they cannot tax us anymore as we have already paid the right taxes every time we spend our fiat. Bitcoin is just a payment system and it was recognized that way by the government for now so no worries.

rickadone

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Quote from: richardsNY on March 21, 2017, 02:41:15 PM

Quote from: DarkIT on March 21, 2017, 12:59:48 PM

I guess the biggest problem posed cryptocurrencies just had a major impact on the government, because it does not create a government benefit, only the illegal transactions that should be stopped. but, for a businessman, I think most of the most cyptocurrencies provides a great advantage.

Crypto as it is right now, is too small to form somewhat of an impact on the governments. But that obviously will change in the coming years as this industry will grow larger and larger. I think that's exactly why they start putting up all kinds of regulations. It means that things are getting serious now. It's not 2011/2013 anymore where you could just buy Bitcoin, trade it, cash it out, etc, without any problems. Now even the smaller exchanges force people to verify themselves according to the various levels of verification they work with.

I agree, with the bitcoin value increasing over time and more people starting to invest in use it to make a ton of money there is no doubt that governments will start imposing some financial laws on people making money from bitcoin, in other words we will have to start paying taxes to governments for every bitcoin we own, other threats is that cryptocurrency are used without id or any personal verification which means it can be used not only for illegal things like buying drugs or hacking but also for frauds and bribes which imposes a serious problem for governments.

UCHCHILD

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Danger of cryptocurrencies?
The limit of its users, they cannot handle who is the users of bitcoin, a young or adult, the danger there is they can access anything they want illegal.

Silberman

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Quote from: hisuka on March 22, 2017, 12:45:32 AM

The danger of the cryptocurrencies if this would be controlled by the government and will impose tax m. I think these are the disadvantages will be in cryptocurrencies if those things will happen in the future. But any can be dangereous as long we didnt use it in any illegal way.

I think that is the danger to crypto currencies and no the danger of crypto currencies we know the governments will try to infiltrate bitcoin but our best defense is to be very attentive about any possible attack and to support other cryptos as well so we don't have to start over.

positivezero

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Quote from: sksagaon on October 01, 2016, 07:23:00 AM

Nothing The danger of the cyptocurrencies. I think crypto currency future looks very good at this time.

Yes i think so but of course we dont actually know the future in every things here, if there is danger along or it will become more progressive and best crypto currency among others. But yes, we have the same outlook for bitcoin, it would become the no. 1 currency in the market and many people will used this.

Janation

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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.

How will USD be worthless while you said that bitcoin will be $1,000,000. Saying that, USD is still not worthless. Bitcoin without the fiats are really useless, without fiat, there will be no reason to have a profit out of bitcoin. How will people enjoy earning them if they are not getting any profit from it. Think of it, bitcoin is just the shadow of the fiats that every countries are now using, it is the fiat's dark side.

richardsNY

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Quote from: deisik on March 22, 2017, 12:51:13 PM

While governments can control local exchanges they certainly can't foreign ones, and as long as there are as many governments out there as there are countries in the world we can sleep more or less calm. On the other hand, it is very hard to track down purely online businesses which exchanges very well fit into. Combining these two separately operating factors, we come to a conclusion that there is still plenty of room void of any possible regulations. Therefore, if there is a demand for anonymous exchanges there will always be some since there are neither governments nor borders in cyberspace (and thus no regulations)

That's why it's more important than ever to have proper decentralized exchanges. It will allow all people to bypass all kinds of governmental interferences. If you look at various decentralized exchanges, then they all have one thing in common, their fiat "integration" is forming a huge obstacle (in regards to staying fully decentralized). Coin to coin trades are fully decentralized, but there must also be a way to offer decentralized fiat/coin trading options. So far none of the 'decentralized' exchanges have managed to do so.

Doamader

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Quote from: sunsilk on March 21, 2017, 05:01:37 PM

Quote from: DarkIT on March 21, 2017, 12:59:48 PM

I guess the biggest problem posed cryptocurrencies just had a major impact on the government, because it does not create a government benefit, only the illegal transactions that should be stopped. but, for a businessman, I think most of the most cyptocurrencies provides a great advantage.

It surely got a big impact to the government as most of the countries are thinking that crypto's are in nature dangerous and prohibited.

Because most of the illegal transactions are happening and being paid with it that's why it is one of the biggest problem that govt's are thinking.

But if they will just realize that not all transactions are this way, they would change their mind.

Well isnt like that when some making money others are loosing, soo when you win and moove your coins or exchange into fiat you will invest those money, soo you helping your countrie without pay them a tax. But well crypto world if full of opportunities, the same way several hiden risks are around being the most know the scam projects and scamer people.

Dux2K

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Tehnicly we are in era of internet communications and this is why i think its not dangerous but more something else, i mean danger is present if they use bitcoin for buying guns drugs and other illegal activities then yes.

deisik

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Quote from: savioroshan on March 21, 2017, 04:47:16 PM

Quote from: richardsNY on March 21, 2017, 02:41:15 PM

Quote from: DarkIT on March 21, 2017, 12:59:48 PM

I guess the biggest problem posed cryptocurrencies just had a major impact on the government, because it does not create a government benefit, only the illegal transactions that should be stopped. but, for a businessman, I think most of the most cyptocurrencies provides a great advantage.

Crypto as it is right now, is too small to form somewhat of an impact on the governments. But that obviously will change in the coming years as this industry will grow larger and larger. I think that's exactly why they start putting up all kinds of regulations. It means that things are getting serious now. It's not 2011/2013 anymore where you could just buy Bitcoin, trade it, cash it out, etc, without any problems. Now even the smaller exchanges force people to verify themselves according to the various levels of verification they work with.

I agree with you. Now bitcoin transactions are no more anonymous because the exchanges get all informations about their users . Slowly governments will impose more and more regulations on bitcoin users

It is just one extreme of the whole range

While governments can control local exchanges they certainly can't foreign ones, and as long as there are as many governments out there as there are countries in the world we can sleep more or less calm. On the other hand, it is very hard to track down purely online businesses which exchanges very well fit into. Combining these two separately operating factors, we come to a conclusion that there is still plenty of room void of any possible regulations. Therefore, if there is a demand for anonymous exchanges there will always be some since there are neither governments nor borders in cyberspace (and thus no regulations)

Reid

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Quote from: Lauren Smith on March 22, 2017, 12:28:33 PM

Yes good is just a rock and Fiat notes just paper. Bitcoin is just digital. They all serve the same function and that is to trade. Otherwise we would all need a massive supply of everything because I have only a shovel and some pocket lint to trade but I need a cow because I want daily milk. That's why we use these are items like gold silver copper other rate stones etc etc because they are just that, they are rare. Using them means you don't have to keep a cow with you in case someone will only accept cows in a trade. Now you have one item that has value and you can use it to trade for anything you want. We don't live in the Stone age anymore I think we have moved on from paper I mean we use pc's now we don't keep records on paper ? So why keep.money on paper ? It's just a currency it's form will change as we evolve. Or should we go back to carrying a whole.bag of coins that weigh down your pockets and get you killed.Or have them stolen or would you rather have a 200gram phone ? This is the she if technology.

Yes everything is upgrading and we just have to live by it.
The faster everything becomes the better, so we could do other things like being with our family when every transaction is done.
I wouldn't like carrying a gold in my bag so that I could trade it to a cow or for a milk. Every trade should change the way it is to give convenience to everyone.
It is not really a danger with cryptocurrencies, it is the danger that not everyone will follow or could follow.

Lauren Smith

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Yes good is just a rock and Fiat notes just paper. Bitcoin is just digital. They all serve the same function and that is to trade. Otherwise we would all need a massive supply of everything because I have only a shovel and some pocket lint to trade but I need a cow because I want daily milk. That's why we use these are items like gold silver copper other rate stones etc etc because they are just that, they are rare. Using them means you don't have to keep a cow with you in case someone will only accept cows in a trade. Now you have one item that has value and you can use it to trade for anything you want. We don't live in the Stone age anymore I think we have moved on from paper I mean we use pc's now we don't keep records on paper ? So why keep.money on paper ? It's just a currency it's form will change as we evolve. Or should we go back to carrying a whole.bag of coins that weigh down your pockets and get you killed.Or have them stolen or would you rather have a 200gram phone ? This is the she if technology.

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Quote from: ethereumhunter on March 22, 2017, 01:10:04 AM

i think the danger of the cryptocurrencies is when some one can not controlled his self to see that his chance to buy a lot of coins is wide open because it could make him desperate when he saw the coins is going down in the market. cryptocurrencies can be a bright future because its a new technology inside and cryptocurrencies makes every one life more simple and easy when they wants to make transactions. but always, there is some bad guy that will do the bad thing from what cryptocurrencies offer.

I don't think losing control from buying coins can be called a "danger" because you simply lost some money. You didn't get hurt physically, emotionally, or anything. You didn't even lose all of your money. You just lost a percentage of it.

Will do bad thing like what? If you mean someone who will attack the network, I doubt that someone will spend millions of dollars just to attack the network and bring bitcoin down. Investing this money to mine bitcoins will be far better than attacking it.

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Quote from: hisuka on March 22, 2017, 12:45:32 AM

The danger of the cryptocurrencies if this would be controlled by the government and will impose tax m. I think these are the disadvantages will be in cryptocurrencies if those things will happen in the future. But any can be dangereous as long we didnt use it in any illegal way.

How would that be possible, they are not in control of bitcoin thus it's impossible to tax this directly, it's a currency or payment system and it's not taxable. The government can only tax on transactions, like if you are earning on sometime or your are spending, but that will probably when you convert your bitcoin into fiat. Actually it's a bit complicated but sooner or later there will be a clear ruling on how this things will go with relation to spending of bitcoin.

ethereumhunter

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i think the danger of the cryptocurrencies is when some one can not controlled his self to see that his chance to buy a lot of coins is wide open because it could make him desperate when he saw the coins is going down in the market. cryptocurrencies can be a bright future because its a new technology inside and cryptocurrencies makes every one life more simple and easy when they wants to make transactions. but always, there is some bad guy that will do the bad thing from what cryptocurrencies offer.

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Quote from: Antonio G. on March 21, 2017, 10:46:04 AM

Quote from: bajing on March 21, 2017, 07:47:54 AM

Quote from: Kvazimoda on March 21, 2017, 07:22:48 AM

Quote from: Schuyler on March 21, 2017, 06:46:45 AM

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.

For me, there's nothing to worry if they remove fiat money and build up the cashless world.Many countries do not use money instead they were carrying their debit or credit cards. I don't think the CIA is behind this project, no one knows. But before they remove the fiat money, the government and the banks, they would not let it happen.

The government is the first enemy of the crypto currency. It will not allow its introduction into the economy. After all, the government will not be able to control transactions and get benefits from them.

It's no secret that the government will never agree that to happen, they know cryptocurrency is dangerous and if they allow that to happen then they would be difficult to collect taxes from citizens.

I think that government will find the way how to control cryptocurrency transactions and get taxes in the future. And I am sure that when they find such way, the government will be the first friend of the cryptocurrency

That's how they are testing block chain technology in order to control cryptocurrency frauds, Yes, governments will find a solution for all these frauds and finds a solution for people that they can freely use the crypto's under the control of governments.

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The danger of the cryptocurrencies if this would be controlled by the government and will impose tax m. I think these are the disadvantages will be in cryptocurrencies if those things will happen in the future. But any can be dangereous as long we didnt use it in any illegal way.

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Quote from: Silberman on March 21, 2017, 09:21:03 PM

Any technology can be dangerous depending on how you use it and bitcoin and other alts are no exception to this rule but I think the benefits they bring are to big to be ignored just because there exist the possibility of someone doing evil with them.

Bitcoin was created to benefit the majority, we have experience that now as we can transact fast and easy without strict regulations by the government.
It's decentralization are the complete opposite of what the banking system are implementing and since it's online currency, this would be the most competitive currencies when time comes digital currency will be widely used.

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