Topic: The danger of the cyptocurrencies - page 4. (Read 45222 times)

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.

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.

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.

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.

The Bitcoin is profit for all users except governament because they will not get income from Bitcoin transaction that is the only major disadvantages in Bitcoin. And it creates more business in dark web and many people are making more money in this Bitcoin. If the Bitcoin become legal, then I think we don't see any disadvantages in Bitcoin.

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.

When this debate started then Bitcoin was still good but alternative coins were seeming directionless and was atmosphere in which you could be worried about the fate of cryptocurrencies. Someone analyzing based on recent money which was invested in different altcoins can say cryprocurrencies and good and real thing to deal with.

yeah i think government will never banned it or kills it. i think both the organisers and creator of bitcoin and the government both makes a way for tax evaluation and to overcome money laundring. i think crytocurrency is very healthy for the economy of any country and no country will decide to bann it permanently.

I don't think that it is that easy as you think

Bitcoin exchanges are mostly online businesses nowadays (if fact, they were always like that) and most that a local government can do to them is to block access to their site. This is what Russian authorities did in respect to Btc-e and Exmo exchanges (most popular Bitcoin exchanges between Russian Bitcoin users). The exchanges just registered another name for their domain (and most likely not a single one, for future use) and thus all efforts to block these sites failed miserably. It is really hard to fight with something which exists only in cyberspace

tax isn't the first reason why government think that bitcoin too dangerous ,
they morelikely think that bitcoin is vulnerable , the system isn't established yet ,
the potential to become disappear still high and make a lot of people feel insecure about it ,
coinbase and US government can take a tax from your account by the way .

They can always impose taxes on exchanges in the local scene or taxes on the use of it. That way every time people exchange their bitcoins into fiat or vice versa, the goverments will have a cut in that trade. It's not that hard to control it even if bitcoin has all these features. Like money, you can always have deals that you don't declare. Its just the same with bitcoins. However, if you don't declare your income properly and you are living a life that is not proportionate to your income then they can investigate you.

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

Digital currency is used just like traditional bill-and-coin currency for purchases and online payments, but it's also considered a commodity, just like silver or gold. That means it's just as vulnerable to market fluctuations as any other commodity or stock would be. We aren't pointing this out to warn people away from making cryptocurrency investments, but to make it clear the market can move up and down—and, as is the nature of a young and active commodity—it can sometimes do so quite wildly. It's best to take a longer “big picture” view of your investment, as opposed to letting a momentary drop in value send you into a panic.

Digital currency coins are encrypted to keep them secure—but there's a potential drawback there. This coding identifies the currency itself, but not its owner. Whoever holds the coin's encryption code becomes its owner, and there's nothing in the coin's coding that says it belongs specifically to you—or to anyone else. This built-in anonymity feature means when a coin is stolen, it's gone—and you have little to no recourse in getting it back.

Finally, the saddest one, cryptocurrency can be worthless, investor could drop off; the overall effects of world economies could become so severe as to affect cryptocurrency value—even with safeguards in place, extreme factors could have an effect.

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.

The danger of the cyptocurrencies are because it can make you rich and everyone can get without the need for such rules

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.

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.

That is opinion on witch is hard to pick on this topic, cuz it little sensitive subject. Think that some government are going this in secret to create something similar to blockchain or something that will be unique for certain country (example for this is Sweden they are developing there own crypto that can be used there). Cuz of this there is speculation that some already have something similar and they are testing it for further mass usage. Who will gain here its hard to tell but all want to control bitcoin in global.

I have a different opinion about and if banks consider that bitcoin is a serious rival and possibly a threat to their future existence. A typical case of the well known in Europe bank is the BNP Paribas which admitted that bitcoin could destroy the banks and their work as we know they do it now. Moreover, we could see some movement of the PBOC which has already did its first trial in digital currency trying to attract the interest of Chinese customers. All of these are signs that banks are feel at risk considering the popularity of bitcoin.

But, the majority of bitcoin users aren't publishing their bitcoin to the government that easily that even many of them are using bitcoin in purpose of avoiding the taxes.
Also, there's still many countries that still don't acknowledge bitcoin and it makes the taxation struggling to reach its conclusion, just imagine if you're going to pay taxes but the one who's in charge of calculating and receiving your taxes don't know shit about bitcoin.