Great answers all of you.
Like everything new, we're filled with hopes and fears.
Topic: What are your biggest concerns regarding Cryptocurrencies? - page 4. (Read 1204 times)
My biggest concern with cryptocurrencies? Burning coins for no reason. For example you are trying to create transaction, you just write something wrong? Your money is gone. This is very painful for me.
lol, same here. it also happened to me one time when im still just a noob on using a bitcoin wallet. i actually copy the php address instead of btc address because our local wallet (coins.ph) supports two currencies inside a single bitcoin wallet. that was the first time also i joined and get paid on a signature campaign but i was unfortunate and really unlucky for my bitcoins to get burned out of nowhere. that is why my biggest concern regarding crypto is it is not refundable or cant be chargeback just like on the paypal. though having this feature can also bring a bad effect to crypto due to some people will find it a good idea to scam inoscent people when doing transactions online.
Bitcoin forks, market manipulation.
My biggest concern is that someday the government might shutdown our local exchangers here just like what china did to it.
Shutting it down would mean that we will have a hard time to withdraw our bitcoin locally and we might use another 3rd party which might cost more.
Shutting it down would mean that we will have a hard time to withdraw our bitcoin locally and we might use another 3rd party which might cost more.
Bitcoin.
I don't like the fact that you have to buy BTC in order to buy some coins.
This must change.
I don't like the fact that you have to buy BTC in order to buy some coins.
This must change.
Me too, I am always worried everytime these has to be done. It is very risky to scammers and fraud. Many are taking this chances to create something bad to make some amount for their own good.
Over-promising or unrealistic projects. I see some coins and tokens that I don't believe are outright scams but will not live up to expectations in the medium to long term. Some have contradictions that mean they cant both be an investment (coin goes up) and a viable platform (because costs would become high). Others are offering a cryptocoin/token for a scenario that doesn't need it.
At the near scammy end are projects that may have genuine intentions but the coin ICO is essentially just an unregulated way to raise funds for their tech projects. I note some ICO are keeping a lot of the issue for themselves and the spending allocation is heavy on marketing. Just like a certain frenzy near 20 years ago... enjoy the ride we know where a lot of them will end, hopefully you pick an Amazon and not a Boo.com
This bothers me as well, many projects lack any substance or innovation, they are just copies of something else, that is why it can be difficult to see the real projects that offer something new, you must literally go thorough tons of useless information to find something that could become a success and that is why investment in icos is going down since people are tired of wasting their time. At the near scammy end are projects that may have genuine intentions but the coin ICO is essentially just an unregulated way to raise funds for their tech projects. I note some ICO are keeping a lot of the issue for themselves and the spending allocation is heavy on marketing. Just like a certain frenzy near 20 years ago... enjoy the ride we know where a lot of them will end, hopefully you pick an Amazon and not a Boo.com
I want to write an article about this and I've been asking around.
So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
there will always be fraud and scams and it happens in life in general.So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
from what i understand governments cannot take over as they are mostly decentralized currencies.
my biggest concerns are that most good blockchain technologies wont get the traction they deserve because people dont back them fully.
My biggest concern with cryptocurrencies? Burning coins for no reason. For example you are trying to create transaction, you just write something wrong? Your money is gone. This is very painful for me.
That is not the case with all the coins. Some returns your money back into your wallet if transaction failed or if troubles arises that cause transaction to not succeed. You should definitely report that to the developer. Also, try asking here for help, maybe someone can help you. By the way what coins is that? It is the first time I have heard someone encountering that problem without having fault at the users side. For me though my biggest concern regarding cryptocurrency is too much speculation. IMO most has gone astray to it's original purpose. 
That someone will find a major flaw in the system. It could cause everything to collapse
I think it is impossible to happen with a major flow and also everything will collapse. Mostly of the coin that colapses is the developer scam all of the coins thats why it collapses and also the major flaw will not likely to happen , still there is a flaw but i think it is not major enough that could lead to market collapses. Just trust the coin and invest what you can afford to lose
So many great answers.
Thank you!
Thank you!
My biggest concern with cryptocurrencies? Burning coins for no reason. For example you are trying to create transaction, you just write something wrong? Your money is gone. This is very painful for me.
I'm not that worried about governments, actually they can't do anything about it. They should have taken BTC down when they had the chance to do so, and it was uknown by most of us. BTC until now has gained so much traction that it will be a bigger disaster to try to stop it than just let it be. The regulators want a stable economy, if they try to mess up BTC, the investors will be hurt, and it might even impact the overal markets, so it probably won't happen. Scammers is a real threat indeed, I'm thiking about the noobs and non-tech savvy people who will join one day, and they will be easy pray for anyone interested to rip them off. Scalability is definitely a problem too, BTC has said it's a problem, ETH said it's a problem, but as technology advances that will eventually be solved as well.
I want to write an article about this and I've been asking around.
So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
The possibility of cryptos getting destroyed by the governments out of nowhere is one of the main concerns in people's minds, even though the possibility is not likely at all to happen, but it does make people worry sometimes. Scamming can be avoided in most of the cases if the person is smart, but avoiding the control of governments can be very hard for the normal folks. So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
my biggest concern is "people forgetting what cryptocurrencies are supposed to be"!
and sadly that is what i see happening these days. they are no longer created to be a "currency" or a "payment system", instead they are created to be a speculation tool for traders to make money. people are even calling altcoin market as "penny stocks"!
in fact i say this issue is more serious than the 3 you mentioned. specially the scaling one. since none of these altcoins are being used for anything other than people sending coins to and from exchanges, scaling is meaningless for them. their blocks are too small, the top ones handle less than 1/10 of bitcoin daily transactions! and the rest are not even used.
and sadly that is what i see happening these days. they are no longer created to be a "currency" or a "payment system", instead they are created to be a speculation tool for traders to make money. people are even calling altcoin market as "penny stocks"!
in fact i say this issue is more serious than the 3 you mentioned. specially the scaling one. since none of these altcoins are being used for anything other than people sending coins to and from exchanges, scaling is meaningless for them. their blocks are too small, the top ones handle less than 1/10 of bitcoin daily transactions! and the rest are not even used.
First of all i afraid of thiefs. The Scammers or pirates. I never keep my passes in my computer. It's in my notebook writen by my hands. Than i feel bad about taxes. We don't pay tax an goverments know this. If one day they take control that would be very very bad for all of us. It's scary too..
Beside I worrying about more fraud/scammers, for me and in my place in particular.. honestly I'm still worrying the government in my country will completely bans on cryptocurrencies including to selling crypto to local currency, because the government really can't accepting it and regulating it yet so far, and until would be punish the people are connected with cryptocurrencies.
That someone will find a major flaw in the system. It could cause everything to collapse
I want to write an article about this and I've been asking around.
So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
Outside from claiming cryptocurrencies, the vast majority money related transactions need aid reversible. This doesn't intend that you could basically try for An shopping spree and if you try refund the money, Likewise there may be generally a administering figure that oversees the transform. To example, We should say that you buy something web and the merchant never sends you an item.
Not being able to sell in USD in most of the exchanges is one of my concerns. I am also concerned about online theft.
I want to write an article about this and I've been asking around.
So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
Of all of them the biggest problem are governments and banks, scammers are a bother but for the most part you can ignore them if you take the right precautions, and scalability while and issue as well it seems it is finally going to be fixed, but the problem with governments is that they have all the money in the world and they have an even greater power the power to make the laws and change them. So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
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