The danger of the cyptocurrencies

[Snorek]

But yeah, digital money can disapear, we can se a lot of altcoins going away with ICO money, can you imagine if someone do that with a ready coin?

ICOs are different, they are like crowdfunding projects of a cryptoworld. It is far easier to waste/steal/embezzle croudfounding money.
And unfortunately failed ICOs happened before. But wow exactly someone can steal existing, decentralized, open source coin? (I am not talking about likely Ponzi coins like Steem etc.)

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[mindrust]

The point is, when bitcoin becomes the only choice for storing your wealth, you won't have anything physical to hide from someone (like the govs). They will be able to tax your money from the source whenever they like.

First of all do you think that hiding something that is physical like gold will make you get away from your government? It would be a bigger crime to do so. Also remember that you will have to deal with banks to use your physical stash and those banks work with the government to enforce the rules.

It may look unimportant to you and you can say "i have nothing to hide" but not every government out there are saints. Some of them are pretty evil. I am aware of that gold won't die so easily but it can lose so much value that it won't make sense to hold them anymore.

It won't make sense to hold them as a store of value. Where would you keep them? In your house? There was a good reason why the financial system evolved and started using paper money. Using gold was not really efficient.

Look at silver, would you keep hundreds of silver blocks to protect yourself from the shady govs if you had to? Silver's worth is almost shit. It carries so little value compared to gold. Same can happen to gold... I wouldn't want that to happen tbh.

A little piece of gold can store thousands of dollars in value right now, it is that valuable. Buy gold and bury them into the ground and you are safe for all eternity. (until bitcoin destroys it at least )

No you will not be safe for eternity because as I said, you will have to deal with the banks or government institutions with your gold. Or you can go to the black market which will be a much bigger crime.

First of all, Governments are not as smart as you think they are. Yes if you plan your way well enough, you can hide anything from them.

There are many examples from the history. Not just history, people do it everyday.

Where do i hide them? Burying seems like a good idea

[justspare]

beauty of crypto currencies is only of their privacy . if it would by the government then their is no option to use crypto currency . while we will use direct other online currency instead of these . because due to control under government of country there will be restrictions of saving and transfer .

Yeah that is pretty much the only appealing part about cryptocurrencies(other than their price). If the value of cryptocurrencies didn't go up, I don't think many of us would be owning them, if anyone.

[requester]

The fear is they are decentralized and at any time they could get banned by government. And the number of scammer and fraud trader are in majority in cryptocurrency and for trading we should first find a legit and honest trader with whom we can deal with cryptocurrency. I have already bought 0.1 and if those get banned then I will get banned from my business.

[rickadone]

The fear is they are decentralized and at any time they could get banned by government. And the number of scammer and fraud trader are in majority in cryptocurrency and for trading we should first find a legit and honest trader with whom we can deal with cryptocurrency. I have already bought 0.1 and if those get banned then I will get banned from my business.

But, a government's ban will not stop people using a crypto currency. Being decentralized is very important for ensuring basic human rights. So, misinterpreting decentralization in wrong way is not acceptable.

But I agree, running business based on bitcoin payments will not possible after government regulations. But as long as you are accepting bitcoin payments and saving them then you will not get any disturbances. Also, you need to spend back your bitcoin for your life's need instead of going for converting it back to fiats.

[traderethereum]

The fear is they are decentralized and at any time they could get banned by government. And the number of scammer and fraud trader are in majority in cryptocurrency and for trading we should first find a legit and honest trader with whom we can deal with cryptocurrency. I have already bought 0.1 and if those get banned then I will get banned from my business.

But, a government's ban will not stop people using a crypto currency. Being decentralized is very important for ensuring basic human rights. So, misinterpreting decentralization in wrong way is not acceptable.

But I agree, running business based on bitcoin payments will not possible after government regulations. But as long as you are accepting bitcoin payments and saving them then you will not get any disturbances. Also, you need to spend back your bitcoin for your life's need instead of going for converting it back to fiats.

and so far, i think there are not many government that will ban people for using cryptocurrencies and so far i think people can trading with safe on market exchanger.

many bitcoiners that hope there are a ways for government to accept bitcoin and make legal statement of using bitcoin so people will be more safe and not worried for any of banned or forbidden from government itself while they are make trading, selling and buying bitcoin on market exchanger or localbitcoin.

[anaderwan]

I don't find the part about Satoshi being unknown important to me at all, Satoshi simply made something and some people liked it and this system was made, I don't care the least who satoshi is in person particularly if he/she wishes to remain anonymous.

Regarding the CIA being the maker of BTC I guess this is just random though with no actual details proving or explaining it.. I guess it's just a system for sending money and doing transactions IMO.

[Snorek]

I don't find the part about Satoshi being unknown important to me at all, Satoshi simply made something and some people liked it and this system was made, I don't care the least who satoshi is in person particularly if he/she wishes to remain anonymous.

Regarding the CIA being the maker of BTC I guess this is just random though with no actual details proving or explaining it.. I guess it's just a system for sending money and doing transactions IMO.

The problem is not Satoshi per se. The problem here is his stashed coins. Satoshi owns over 7.5% of bitcoins - it is more than 1.575 million of BTC.

Imagine if Satoshi decide to dump 1 million of his coins. What will happen? Most likely we will see the biggest market crash in the history of bitcoin.

Not to mention that people after a dick move like this will lose faith in BTC and market may never recover from it.

[European Central Bank]

I think the biggest danger by going cashless isn't crypto itself becoming the compromised entity, it's the access to crypto. anyone who thinks it through realizes that cashless gives them total control over you.

if you want to run into crypto, and loads of people would when they realized what they'd let themselves in for, all the governments have to do is block your fiat transactions to exchanges or buying and selling services. sure, there'll still be localbitcoins and stuff but your options for getting in and out will suddenly be a lot more restrictive and not practical for most people.

[bitbunnny]

Cryptocurrencies can't entirely replace the cash and fiat money. It is true that they are alternative to them and by using different kind of cards, mobile wallets, virtual card etc. we are moving towards cashless world but still I think that cash will not disappear just like that. And I also don't beleive that CIA or some other intelligence service is behind this concept, this is just another conspiracy theory.

[elena-tur]

A lot of information about what can be bad in bitcoin and cryptocurrency. I have not a leg to confirm any fact, because he had not had any problems.

[SidaroffVany]

Poor that the acquisition and use of Bitcoins, like other cryptocurrency, be aware that cryptocurrency holders in the event of theft or loss for other reasons today are unable to defend their interests in court and administrative proceedings.

[xdrpx]

Thing is for a cryptocurrency like Bitcoin the conspiracy that the NSA is behind it wouldn't really matter. The purpose of it's source code being open source really lets us dig deeper into understanding how it functions. The whitepaper even makes things clear although it may be technically complex for few people to understand. Bitcoin nodes and miners are normal people like us, mostly miners are now those richer people who can afford costly hardware to reap benefits of mining. Bitcoin by itself has all of the transactions in a public ledger, if the Government really wanted to do this why would they do it? They still can't track trades made easily.

[crairezx20]

The fear is they are decentralized and at any time they could get banned by government. And the number of scammer and fraud trader are in majority in cryptocurrency and for trading we should first find a legit and honest trader with whom we can deal with cryptocurrency. I have already bought 0.1 and if those get banned then I will get banned from my business.

But, a government's ban will not stop people using a crypto currency. Being decentralized is very important for ensuring basic human rights. So, misinterpreting decentralization in wrong way is not acceptable.

But I agree, running business based on bitcoin payments will not possible after government regulations. But as long as you are accepting bitcoin payments and saving them then you will not get any disturbances. Also, you need to spend back your bitcoin for your life's need instead of going for converting it back to fiats.

and so far, i think there are not many government that will ban people for using cryptocurrencies and so far i think people can trading with safe on market exchanger.

many bitcoiners that hope there are a ways for government to accept bitcoin and make legal statement of using bitcoin so people will be more safe and not worried for any of banned or forbidden from government itself while they are make trading, selling and buying bitcoin on market exchanger or localbitcoin.

If bitcoin will added a new feature like in paypal that has buy protection for costumer maybe it can stay bitcoin even in government.
Crypto currency is just like other thing like gasoline the price is always demand and supply if more people are buying gasoline and less supply the price will increase high..
So i hope that bitcoin will be accept locally in the future..

[fatima zuhra]

to be honest when i was reading your comment the image that i have from you is someone living in a desert in an RV while wearing a tinfoil hat and cursing the government for their experiments on the aliens on aria 51

LOL. it was very funny. I should probably agree with you. crypto currency future looks very good at this time.

yes i also agree with you and that is a fact that the future of crypto currencies is very bright and the reason is that the new generation is very much found of internet and online shopping and the crypto currencies really suit that.

[aesma]

Cash is already a losing proposition, it only goes down in value.

I believe in holding assets, not money.

BTC is an asset.

Gold is another one, but I don't like it.

Real estate has my preference. Including land, forests, ponds. I would love to own a big chunk of land.

After that, stocks.

[RodeoX]

Or one could learn about bitcoin and understand why none of this makes any sense.

[shield132]

Well, the danger of the cryptocurrencies is that transactions with usign them are mostly anonymous, so many people are doing illegal things with this. Maybe it's priority of every people because they feel more secure when detailes aren't easy to see and also I am likely this. I like that I when I send money my privicy is protected, it's bitcoins good and bad side, both together. Also one danger thing is that if you lost your bitcoin's wallet files or your hard disk damaged, than your bitcoins are lost if your hard drive isn't under of recover. Hope there isn't more danger sides

[Superzpay]

I do not think that there will be any issue to us because of crypto currency but the most issues I face because of the government owned cash and the other issue is that we cannot protect cash in our home because of robbers and we have to rely on banks and these banks often suck.

[takingthis4]

There's a lot of dangers in digital money, well, I don't think Satoshi is from CIA or whatever and I think they don't have interest in "few billions dollars"... The big players can buy all bitcoin and still have money to make a party.

But yeah, digital money can disapear, we can se a lot of altcoins going away with ICO money, can you imagine if someone do that with a ready coin?

Well, there's a lot of risks, so that's why you should not invest all your money in cryptos be smart and trust none.

yeah it is really not possible that satoshi is cia because bitcoins are kinda against governments