Topic: The danger of the cyptocurrencies - page 30. (Read 45220 times)

It is dangerous because it can grow veryfast but also can be some govrement law and destroy currency and then lose a lot of money because currency go down so be careful.

The bitcoin is dangerous for the user in some countries. And for using Bitcoin or other "money substitutes" organization or the offender could be fined quite a huge sum in the national waltz or suspend the activities of companies, individuals face imprisonment. But it looks like a totalitarian country.

If you are seriously bitcoin use for criminal purposes, it is possible such that cryptocurrency recognize outlawed. And it will be a great loss, because the user can pursue.

Yet many financial institutions from different countries have already begun to implement the work blockchain technology, so like and hopefully forget that it is simply impossible.

Without the risk of not earn as much money as enough for all the family. Therefore, bitcoin is fine with his anonymity to avoid publicity in the first place, and secondly to avoid taxes. And you can talk a lot but it does not change the fact.

   This topic just created many conspiracy theories, except that this thread is full with useless comments from people who didnt even read more then headline. Danger or not people will use bitcoins as long as they have some benefits from that. People do many dangerous things for profit and there is no point to talk about who created it, with what purpose, that doesnt mean nothing. If people make profit they will use it, secretly or not, illegal or legal, doesnt matter, as long you can earn money for yourself and your close ones.

It is bitcoin has no control over any state, although I think China has an impact on cryptocurrency, but this fact does not change. But if it is legalized, then be sure to start problems including taxes.

They can't freeze your account or something like that however if they discovery that if you are doing something illegal the government can fine you, arrest you and things like that so we will be never free of the government.

Bitcoin is still subject of any laws imposed by any government of the world, what bitcoin allows us is to have complete control over our own money since no government backs bitcoin or has control over the bitcoin network.

I am sorry but if the american government got behind bitcoin in the form of CIA or FBI support, I would ditch and run, for there is no trust with them anymore.  There are so many issues with trust in those agencies and no one has half of an idea.  Look at the local television shows with these organizations in them, obviously faked shows, like Quantico, Burn Notice, etc.  You think that this stuff was just thought up from nowhere?  There has to be some form of some sort of truth behind it.  So no I would not get behind bitcoin any longer if they started to play with it.

although it is a fact that china is one of the big supporter of bitcoin but they are not going to control it, or to have influence on bitcoin, as bitcoin is a universal currency and it cannot come under control of any country or state so easily.

the main danger is its decentralized money and at any time government could put a ban on it. and currently i had just entered cryptocurrency world and if government put ban on it then I might have to forget about buying gadgets with bitcoin which i had planned since 5 months.

Who knows? Maybe some day the btc price can beat that number.
It's a hard step to reach, but what OP says make some sense. If btc price increases a lot another currencies will lose their price and become worthless. But by this happen, countries will take some actions to don't crash the country economy.
I agree that paper money will become worthless in the future, when the virtual transactions take the control over the financial system.

There is nothing to worry about sir. Bitcoin will not rise that much. Using bitcoin in all aspects is almost impossible to happen as many transactions do not need computer transactions. Even though the digital currency expand more, the value of paper money would not be worthless as what you say.

One of the main attractions of bitcoin and the cryptocurrencies in general is in the fact that, government regulation and clearance tables are by-passed, so in the event that government imposes itself on bitcoin, which is most unlikely, then bitcoin would no longer be bitcoin and the interest would most likely water down.  

The scam coins are pretty easy to spot usually, but you also have a few well built scam coins, can't really think of any at the moment, but a few years ago it was pretty common to see it here on the forum.

Just don't visit the altcoin boards too much anymore now and stick with the proven coins and mostly Bitcoin.

If china tried some move in order to take control over bitcoin you can be sure other governments of the world will do anything in their power to try yo outcompete them, or just try to crash bitcoin price with a political ban or something.

If a few rich governments actually did something like that, they wouldn't be able to control Bitcoin through mining due to the competition setting in between them, right? And then they would be essentially back to square one, i.e. where they started. So why would they want to do that in the first place? Even if there were only one government (going after Bitcoin in this way), they would most likely just waste resources without any positive effect in the end...

Since they could simply outright ban Bitcoin and get done with it

Should be decentralized. But what is happening now? They create new ones and make people trust in it which we know there are people who can control it. That is why they cant match bitcoin. That simple difference defines everything.

I only saw your thread now.  I agree with you.  To me, bitcoin was a great invention, but had some (understandable) design errors which resulted in its centralization in China.  China not being the country that protects at best individual rights, the Chinese government can take over bitcoin at any moment.  That said, almost any rich government can do so, by setting up huge mining farms somewhere in a hidden place (area 51 ? ).

This is why I think that the real future of crypto currencies is the continuous creation and use of altcoins.  I know that sounds strange to bitcoin enthusiasts, but "centralization" is just as well on the basis of uniformisation of protocol than on centralization in hierarchical structures.   The word is "diversify".   Cryptocurrencies should be diversified.  New altcoins should continuously be created and used, and total market cap should be spread over many of them, continously changing.  If bitcoin becomes the crypto monopolist, then that's a single point of failure.

This buthurts the hodlers, who want to obtain maximum "seigniorage" for minimum investment for nothing, but has nothing to do with the actual *use* of crypto.  What saves eco systems, economies, invester portfolio, and democracies is diversity.  Because diversity allows at least a fraction to escape calamity.  Uniformity is great, until the uniform system is victim of a calamity (such as a government takeover).  Distributed systems are diversified.  Monopolies are their enemy.  Crypto is no different.