The danger of the cyptocurrencies - page 33.

Capradina

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Quote from: The Sceptical Chymist on November 04, 2016, 06:02:37 PM

Yup, this is definitely a valid concern. But who's responsible for all those shitcoins that keep getting pumped out? The seed has been planted, and it's growing into something that I think is beyond the CIA's control. And that's just the U.S.; Bitcoin could have been any country's idea.

I would always recommend holding onto some cash. And firearms. And real estate.

Everyone indeed will prefer cash currency. Because cash has existed whereas bitcoin is a virtual currency which we can only use the bitcoin moment is in electronics. But if you want to find a great advantage then you better use the bitcoin therefore is a good place so you will feel the benefits. Bitcoin is not so bad currency so use bitcoin for profit

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Yup, this is definitely a valid concern. But who's responsible for all those shitcoins that keep getting pumped out? The seed has been planted, and it's growing into something that I think is beyond the CIA's control. And that's just the U.S.; Bitcoin could have been any country's idea.

I would always recommend holding onto some cash. And firearms. And real estate.

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Quote from: marleybobthedog on November 04, 2016, 11:42:37 AM

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

Bitcoin is not fully anonymous and if government want they can track users where are they getting the bitcoin and where are they spending (not 100%) but still there are some rooms through bitcoin mixers to lost the trace for them. But if bitcoin is danger then other altcoins are more dangerous because it is harder to track there.

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Quote from: Lorik on November 04, 2016, 03:59:59 PM

Quote from: marleybobthedog on November 04, 2016, 11:42:37 AM

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

Perhaps the time will come when some governments recognize bitcoin and users will not be limited in scope, and it will no longer think about the dangers of using cryptocurrency.

I am hoping the same thing too. That the government will recognize bitcoin as an alternative currency at least because in my opinion it is impossible for bitcoin to be a main currency of one country. I believe that the moment when the government decided to adopt bitcoin as one of its alternative currency, bitcoin will be freely use and it will be greatly enhanced because of all the resources the government can put in as a support to bitcoin networks.

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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.

I perfectly understand your concerns. I already thought about that as well some years ago and today still, it is a thought that puzzles me. What if Bitcoin was all a plot to make us slowly accept a world without paper currency and mega controled by governments. It sure scares me a lot

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Quote from: marleybobthedog on November 04, 2016, 11:42:37 AM

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

Perhaps the time will come when some governments recognize bitcoin and users will not be limited in scope, and it will no longer think about the dangers of using cryptocurrency.

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Quote from: Hettinger on November 04, 2016, 02:50:05 PM

The danger of altcoins is that they can go down but also go up its just how the market goes, these days you have lot of pump and dump altcoins and that is just so bad and risky.

I am interested in only one question about the safety of my savings into Bitcoin, if the state in which I dwell not recognize today cryptocurrency, and on this I can not pay taxes and therefore have illegal money. What can you do in such situations.

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The danger of altcoins is that they can go down but also go up its just how the market goes, these days you have lot of pump and dump altcoins and that is just so bad and risky.

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Quote from: jak3 on November 04, 2016, 12:12:20 PM

cryptocurrencys are a way which changed our technical financial systems and point of views these are the main reason in these 5-7years which not only rapidly got huge about o popularity or success but also made an irrisistable histry in the worlds strongest currency list after the gold

If it is about to use or bitcoin bitcoin was safe, then at that time you can always expect danger or even risk with respect to their savings. But really after a few years it should stabilize.

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Quote from: marleybobthedog on November 04, 2016, 11:42:37 AM

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

Actually government don't have any way to just ban the use of bitcoin as it is decentralized so they can't just make people stop using bitcoin. As well as without price fluctuation bitcoin may become just like normal fiat, the beauty of bitcoin remain in its price swing.

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cryptocurrencys are a way which changed our technical financial systems and point of views these are the main reason in these 5-7years which not only rapidly got huge about o popularity or success but also made an irrisistable histry in the worlds strongest currency list after the gold

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Quote from: deisik on October 26, 2016, 02:55:25 AM

Quote from: arransiv on October 26, 2016, 02:47:44 AM

Quote from: deisik on October 26, 2016, 02:42:29 AM

In fact, just in daily life gold is far from being perfect. It is not the best conductor to be used in electronics (silver and superconductors are), gold teeth are outright ugly and highly favored by criminals of all sorts and gypsies (ceramics are the best in this field). I don't know anything about adding gold to food, but all I can say is that it just sounds scary...

Gold is best when it comes to its appearance, touch and feel, and that's where it derives most of its value from

Silver is a better conductor than gold? are you sure? o0

Yes, I'm sure. Silver is the best heat and electricity conductor among all metals. It is not used as a conductor because it is a precious metal itself (like gold), and it corrodes and oxidizes quite easily (unlike gold). When and where oxidation is not an issue, copper is typically used. In electronics gold is primarily used for connectors...

As you can see, gold is not even second

Wow that's more than I know, thanks for sharing knowledge with us, I don't even know what's copper, I'll make a search...

So bitcoin is like gold, we have betters coins but bitcoin have the bigger price Grin

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Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

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Quote from: Fatanut on November 04, 2016, 09:40:35 AM

Quote from: bitbunnny on November 03, 2016, 08:43:00 PM

In some countries Bitcoin is taxed but not because governments are afraid of Bitcoin bur because they want to collect their part of earning.
They see Bitcoin like any other types of investment or capital that has to be taxed. No one actualy doesn't have fear from cryptocurrencies anymore, they are all just trying to have their peace of cake.

I can't even think of a single country where bitcoin is being taxed. "Some countries"? Can you name even just one or two of them? I'll be happy to know that their government is powerful enough to control the bitcoin network and put tax on bitcoin users. Bitcoin is purely decentralized and the main essence of it is so that we can't be controlled by the government. I agree that they want to put tax on every single income that we make but I don't think it's possible to do in bitcoins.

I guess bitbunnny meant to say that the income obtained from operations with Bitcoin is taxable. The latter requires that Bitcoin should be legally accepted by the authorities as either a financial asset (the US) or a foreign currency (Russia). In this way, governments don't need to tax Bitcoin directly, but the effect is essentially the same...

And don't forget that a law-abiding citizen should declare his income as well as calculate and pay the income tax himself

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Quote from: bitbunnny on November 03, 2016, 08:43:00 PM

In some countries Bitcoin is taxed but not because governments are afraid of Bitcoin bur because they want to collect their part of earning.
They see Bitcoin like any other types of investment or capital that has to be taxed. No one actualy doesn't have fear from cryptocurrencies anymore, they are all just trying to have their peace of cake.

I can't even think of a single country where bitcoin is being taxed. "Some countries"? Can you name even just one or two of them? I'll be happy to know that their government is powerful enough to control the bitcoin network and put tax on bitcoin users. Bitcoin is purely decentralized and the main essence of it is so that we can't be controlled by the government. I agree that they want to put tax on every single income that we make but I don't think it's possible to do in bitcoins.

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In some countries Bitcoin is taxed but not because governments are afraid of Bitcoin bur because they want to collect their part of earning.
They see Bitcoin like any other types of investment or capital that has to be taxed. No one actualy doesn't have fear from cryptocurrencies anymore, they are all just trying to have their peace of cake.

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Quote from: groll on November 03, 2016, 07:54:14 PM

Quote from: jossiel on November 03, 2016, 07:27:57 PM

Quote from: rizkyhiw on November 03, 2016, 06:18:40 PM

Quote from: onelove2111 on November 03, 2016, 05:47:00 PM

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

We can't remove the reason that many are loving bitcoin it's because we are not covered with the taxation of our countries.

And if the government will make a law for totally making bitcoin as threat to the society and helps the people to evade tax then it is dangerous to us.

Another danger of it I can see that the hackers are getting more focus to the transactions that are happening for everyday.

I think bitcoin is not a threat to the society because it doesn't make people evade tax. Let's say bitcoin itself has no tax, but the goods and services people buys and pays for are being taxed. Another thing, hackers are the threat. So we just have to be keen and wise in making our transactions to avoid troubles with those hackers.

I agree I can't see bitcoin as a threat to government, in my opinion it even enhances performance of the finance sector because of the competition. If the government want bitcoin to be taxed, it is easy for them to implement it. They can impose an extra charge for cryptocurrency transaction like buying stuff. Though when we buy stuff, tax is already included with it, if the government thinks that it is enough, it will be easy for them because they just have to reach out to the merchant that accept bitcoin to add a gov't tax to it.

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Quote from: jossiel on November 03, 2016, 07:27:57 PM

Quote from: rizkyhiw on November 03, 2016, 06:18:40 PM

Quote from: onelove2111 on November 03, 2016, 05:47:00 PM

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

We can't remove the reason that many are loving bitcoin it's because we are not covered with the taxation of our countries.

And if the government will make a law for totally making bitcoin as threat to the society and helps the people to evade tax then it is dangerous to us.

Another danger of it I can see that the hackers are getting more focus to the transactions that are happening for everyday.

I think bitcoin is not a threat to the society because it doesn't make people evade tax. Let's say bitcoin itself has no tax, but the goods and services people buys and pays for are being taxed. Another thing, hackers are the threat. So we just have to be keen and wise in making our transactions to avoid troubles with those hackers.

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Quote from: rizkyhiw on November 03, 2016, 06:18:40 PM

Quote from: onelove2111 on November 03, 2016, 05:47:00 PM

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

We can't remove the reason that many are loving bitcoin it's because we are not covered with the taxation of our countries.

And if the government will make a law for totally making bitcoin as threat to the society and helps the people to evade tax then it is dangerous to us.

Another danger of it I can see that the hackers are getting more focus to the transactions that are happening for everyday.

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Quote from: onelove2111 on November 03, 2016, 05:47:00 PM

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

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