The danger of the cyptocurrencies - page 6.

Yanisumin

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Quote from: meliodas on March 16, 2017, 01:21:42 PM

I would like to live in that world where we could pay with our crypto currency,
But it seems a long way to go before we could do that and also I think we could never get paper money out of this generation.

On point, crypto currencies won't be able to fully recognize if we can't get out paper money.
For example paper money that came from central banks is what makes the government functioning and powerful people are behind them. That alone is an obstacle for Bitcoin to be a world currency. Like what you said it has a long way to go, maybe on 30,50,100 more years where technology is at the hands of everyone maybe Bitcoin is the currency that day. Gold, silver, bronze, goods have been the value of exchange ages ago. In the meantime paper money is our value of exchange and maybe in the future cryptocurrencies are the world's money. Who knows the future is still a mystery. And I hope that Us the new generation will make Bitcoin the world currency.

stergium

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Quote from: btcdiggingmaster on March 16, 2017, 11:51:14 AM

Quote from: SvenBomvolen on March 16, 2017, 08:37:36 AM

Cashless world is our nearly future. But it will need many years to come true, because as we know the biggest part of people live in a countryside. And to that place bitcoin will come late.

Almost we are in the cashless world because today cryptocurrency is mainly based on cashless,but the fact is cryptos depend on the bitcoin. We need many coins like bitcoin but many projects are being scammed in their ICO stages only.

but i think in most of the area still people do not have any idea about bitcoin and to me i think it will take a lot of time when they will learn about bitcoin and will start using it, and specially in backward countries most of the people still do not know about bitcoin.

pawanjain

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Nothing lasts forever

Quote from: meliodas on March 16, 2017, 01:21:42 PM

I would like to live in that world where we could pay with our crypto currency,
But it seems a long way to go before we could do that and also I think we could never get paper money out of this generation.

Yeah bro , it will take long time for us to reach at that peak where everyone understands well about the digital world and can fullfill Thier dreams in real ways .

meliodas

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I would like to live in that world where we could pay with our crypto currency,
But it seems a long way to go before we could do that and also I think we could never get paper money out of this generation.

Wandering Soul~

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Wolf

Quote from: szpalata on March 16, 2017, 12:10:41 PM

Well there are no dangers associated with cryptocurrencies especially Bitcoin if you know your ways around them. Many fall victim because Bitcoin is virtual and requires some basic knowledge in computer before you can send or receive a transaction and since our rural folks are conservative and hard to change from what they are used to, they are often victimized by cryptocurrency scambags.

How come there will be no danger in using bitcoin when you yourself just stated some in your post . I believe that dangers are always there and risks are set to a default 50-50 so it just depends on the user if he will decrease or increase it . And requiring just the basic knowledge in computer is not enough, That is the main reason why people are getting scammed, transactions getting stucked etc.

szpalata

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Well there are no dangers associated with cryptocurrencies especially Bitcoin if you know your ways around them. Many fall victim because Bitcoin is virtual and requires some basic knowledge in computer before you can send or receive a transaction and since our rural folks are conservative and hard to change from what they are used to, they are often victimized by cryptocurrency scambags.

btcdiggingmaster

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Quote from: SvenBomvolen on March 16, 2017, 08:37:36 AM

Cashless world is our nearly future. But it will need many years to come true, because as we know the biggest part of people live in a countryside. And to that place bitcoin will come late.

Almost we are in the cashless world because today cryptocurrency is mainly based on cashless,but the fact is cryptos depend on the bitcoin. We need many coins like bitcoin but many projects are being scammed in their ICO stages only.

deisik

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Quote from: choppork on March 16, 2017, 11:26:38 AM

Quote from: royalfestus on March 16, 2017, 01:06:35 AM

The danger in cryptocurrency is cybersecurity and ignorance of the user. Users must know enough to handle its privacy and the wallet, forum like this can protect against spam projects. Projects managers should work to protect against bugs and hacks.

The negligence of the users is not a danger of cryptocurrency. If you don't know how to use a gun and you mistakenly killed yourself because you were carelessly trying to figure out how to use it, was it the gun's fault? It wasn't. Not everything has a manual or a guide engraved on it

That's why you can't just walk in and buy a gun

I guess in most if not all countries (apart from the likes of Somali and Afghanistan) you would have to buy a license and be checked if you are mentally okay before you are allowed to buy and possess a firearm. Basically, the same principle applies to financial markets, e.g. some instruments are available only to qualified investors since if ordinary folks tried to use them, their accounts would be quickly wiped away. In other words, some things can be really dangerous if they got into inexperienced hands

choppork

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Quote from: royalfestus on March 16, 2017, 01:06:35 AM

The danger in cryptocurrency is cybersecurity and ignorance of the user. Users must know enough to handle its privacy and the wallet, forum like this can protect against spam projects. Projects managers should work to protect against bugs and hacks.

The negligence of the users is not a danger of cryptocurrency. If you don't know how to use a gun and you mistakenly killed yourself because you were carelessly trying to figure out how to use it, was it the gun's fault? It wasn't. Not everything has a manual or a guide engraved on it.

"Project managers" or the developers have already protected us from bugs and hacks because otherwise, we should already be hacked by now. The only issue about bitcoin is the transaction fee and transaction time although it's debatable if it's an actual issue.

SvenBomvolen

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Cashless world is our nearly future. But it will need many years to come true, because as we know the biggest part of people live in a countryside. And to that place bitcoin will come late.

thend1949

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Many will use this crypto-currency as an investment but ofcourse others use this in bad way. Bad way because they can use it as an mode of payment in illegal transaction, why this crypto-currency? Because crypto-currency hide their user's identity from others.

And lastly the danger I know, Is investing in other crypto currency. Because the price of this crypto money is not like money that stable, so its danger to the investors.

Sundark

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Quote from: mornabo on March 16, 2017, 12:26:47 AM

I think impossible people prefer cryptoccurrency there is no guarantee using cryptocurrency. while receipts fiat certainly safe and guaranteed by the government. I think this is not the danger of cryptocurrency

This claim is only good when government is solid and strong. There were times in history of mankind when governments failed.
We had global economic crisis less than 10 years ago, how many banks have fallen after 2008?
What about countries like Greece and Cyprus, bank users were robbed because their money was needed to help keep the nation survive.

deisik

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Quote from: sportis on March 16, 2017, 01:37:26 AM

From my point of view for all cryptos except bitcoin if bitcoin collapses then rest of all will not survive. Now, for bitcoin a possible nowadays danger is the increased disagreement between segwit and BU supporters which could lead to two bitcoins. That maybe is permissible for other coins like as ethereum but for bitcoin should be imo disastrous. Secondly a possible ban from many strong countries in the world so many users could forced to devaluate the coin

How's that exactly?

There are quite a few possibilities to discard or reject this opinion out of hand as outright incompetent. It will ultimately depend on the precise cause that would make Bitcoin collapse. In fact, its collapse may actually contribute to the popularity and growth of other cryptocurrencies ("the throne is never empty"). For example, if someone found a fatal flaw in Bitcoin protocol (or cryptographic algorithm behind it) that would allow him to get access to wallets of all users and he successfully dumped these coins for fiat (or other currencies), that would obviously wreak total chaos in Bitcoin and quickly render it completely unusable and worthless. But would that make other coins as useless? I guess they would rather profit from Bitcoin fiasco than crash along with it (provided they would be unaffected by this flaw, of course)

sportis

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From my point of view for all cryptos except bitcoin if bitcoin collapses then rest of all will not survive. Now, for bitcoin a possible nowadays danger is the increased disagreement between segwit and BU supporters which could lead to two bitcoins. That maybe is permissible for other coins like as ethereum but for bitcoin should be imo disastrous. Secondly a possible ban from many strong countries in the world so many users could forced to devaluate the coin.

royalfestus

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The danger in cryptocurrency is cybersecurity and ignorance of the user. Users must know enough to handle its privacy and the wallet, forum like this can protect against spam projects. Projects managers should work to protect against bugs and hacks.

mace15

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Quote from: darewaller on March 05, 2017, 12:17:51 PM

Quote from: Sled on February 28, 2017, 03:44:52 PM

The only thing that i see danger in cryptocurrencies is the government because if the government will not agree in using cryptocurrency then if they will ban it then our hard work will turn to nothing so i think it is better if we make using cryptocurrency legal first so we don't have to worry about because the coins are legal and the government already approve it.

I dont see a reasons as of now that Government will ban such cyrptocurrency and I dont see it as a danger. As from what I have observe the danger is in bitcoin on how the government can impose the tax. I think the danger may arise if bitcoin can be legalized by the government and bitcoin will more used than fiat.

mornabo

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Quote from: OrangeII on March 04, 2017, 02:06:38 PM

probably one of the dangers of cryptocurrency is when people need it more than fiat. when it happens, it is likely the country's economic system will be disrupted, since most of the state revenues are also derived from taxes on fiat. when people prefer to use cryptocurrency, then fiat will not have a price.

I think impossible people prefer cryptoccurrency there is no guarantee using cryptocurrency. while receipts fiat certainly safe and guaranteed by the government. I think this is not the danger of cryptocurrency

Yanisumin

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Quote from: BiTZeD on October 01, 2016, 07:53:19 AM

Whatever is their creator and the purpose of why they have been created, their code is unbreakable and thus it doesn't matters.

When I've heard about Bitcoin for the first time, one of the first thing that I've asked is who is Satoshi Nakamoto? By lacking of information about who Nakamoto is, I've researched a lot about it and found that there are claims that they are Nakamoto but there are so many holes in the identity and lack of evidence. As the time passes by until now I am still intrigue who Nakamoto was. For personal reasons it matters to me who is the creator and what is the reason why it's been created. Beside of being curious I feel like I'm missing something very important if I don't answer this question. Because I tend to be always finding the truth in everything that affects me in these world. Just like programmers said no code is unbreakble, the thing about Bitcoin is that it's a open source code and every programmer can fix it if there are bugs. That reason alone can make it hard to break. It is hard to break but possible.

fullypak

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Quote from: virusasog on March 05, 2017, 12:24:27 PM

Quote from: darewaller on March 05, 2017, 12:17:51 PM

Quote from: Sled on February 28, 2017, 03:44:52 PM

The only thing that i see danger in cryptocurrencies is the government because if the government will not agree in using cryptocurrency then if they will ban it then our hard work will turn to nothing so i think it is better if we make using cryptocurrency legal first so we don't have to worry about because the coins are legal and the government already approve it.

I don’t think government will have any issue with it or it takes down any cryptocurrency.
I think the main problem that a government will have from it is that it is difficult to imposing tax from bitcoin but if bitcoin will make some changes for them in its rules it will be acceptable by them.

Nowadays Government nothing doing to people They just work for international corporates and making laws and bills for their businesses. For bitcoin, Banks are the real evil for us and they just do not want bitcoin and then everything ll be ledger they cannot able to our money in shares or for other businesses.

Yes the govt will not get any revenue from bitcoin. So we don't know when our govt will ban Bitcoin completely in our countries. And at present, they are not thinking about Bitcoin. Becasue they are getting revenue from other business. Once everything is stop, or any Banks will raise a voice against Bitcoin strongly then they will take action against Bitcoin. So this is the danger thing in Bitcoin.

virusasog

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Quote from: darewaller on March 05, 2017, 12:17:51 PM

Quote from: Sled on February 28, 2017, 03:44:52 PM

The only thing that i see danger in cryptocurrencies is the government because if the government will not agree in using cryptocurrency then if they will ban it then our hard work will turn to nothing so i think it is better if we make using cryptocurrency legal first so we don't have to worry about because the coins are legal and the government already approve it.

I don’t think government will have any issue with it or it takes down any cryptocurrency.
I think the main problem that a government will have from it is that it is difficult to imposing tax from bitcoin but if bitcoin will make some changes for them in its rules it will be acceptable by them.

Nowadays Government nothing doing to people They just work for international corporates and making laws and bills for their businesses. For bitcoin, Banks are the real evil for us and they just do not want bitcoin and then everything ll be ledger they cannot able to our money in shares or for other businesses.

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