The danger of the cyptocurrencies

[rickadone]

yes the main danger of cryptocurrency is that government and other agency are opposing bitcoin and its further spread into financial sectors because of its volatile nature and unstability.

No actually the real danger of the cryptocurrencies is that they become something that is used by the black market traders for illegal activities, for quite some time this has been a really major issue which made some countries put some laws on using cryptocurrencies.

Because they are being used without being able to track down or know who is and for what it is used for, and that is a really big problem and we need to find a solution for it before it makes a really bad reputation for bitcoin.

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[Xester]

yes the main danger of cryptocurrency is that government and other agency are opposing bitcoin and its further spread into financial sectors because of its volatile nature and unstability.

Aside from that the real danger in cryptocurrency is the lack of skills and knowledge of users to adapt to the volatility and to the trading market. When people has no knowledge they will end up losing their capital instead of earning but if a user or holder knows the basics then he will not easily lost his capital. There are many problems in cryptocurrency but there are also ways to overcome them. Always remember knowledge is power.

[Taki]

Cryptocurreny is safe it's just where the user decides where to keep their coins.

All exchanges are not secure.
Hacked this and hacked that.

They were all jacked last night son!

I think the point here is not about savnest of your coins and places where to hold coins to feel safe. I think that fact that new crypto currencies appear and disappear almost every day and there is high risk that those currency that you have bought or/ and decided to invest in can just disappear one day and you will loose all your money.

[Adelajda]

yes the main danger of cryptocurrency is that government and other agency are opposing bitcoin and its further spread into financial sectors because of its volatile nature and unstability.

If volatile nature and instability is the issue the government has to ban the forex and stock exchange as well as the speculation market and then talk about holding up the crypto world with the same reason. I really do not think these are the reasons they have in mind  and the only danger i could see here in this world is scam and nothing else.If you are careful then there is nothing to worry.

[szpalata]

Well cryptocurrencies haven't posed any major threat or danger so far as I know and most of them are doing just fine on the market and in usage. There's no cause for concern as we are still enjoying the financial freedom Bitcoin and the blockchain has brought to the crypto world. There might be few hitches here and there but it's just normal as with other currencies that's why the core developers are there to address them.

[paul gatt]

I do not see any danger from it, perhaps, the danger that you said is using. however, if you use incorrect, it will cause great danger. Therefore, before using it, you need to fully understand its information, everything related will also have a huge impact. Once you do that, there will not be anything dangerous happens, I'm sure. Bitcoin is a good example, it is not only not dangerous but also provide a source of huge profits for those who use it

[Adelajda]

Well cryptocurrencies haven't posed any major threat or danger so far as I know and most of them are doing just fine on the market and in usage. There's no cause for concern as we are still enjoying the financial freedom Bitcoin and the blockchain has brought to the crypto world. There might be few hitches here and there but it's just normal as with other currencies that's why the core developers are there to address them.

Not all crypto currencies are doing really well in the market.There are a plenty of clone coins in exchanges like yobit who are there only to snatch money from people. People should be very careful about the morality of the exchange as well as the coins listed in those kind of exchanges. Those kind of coins are the real danger of crypto currency .

[BitHodler]

yes the main danger of cryptocurrency is that government and other agency are opposing bitcoin and its further spread into financial sectors because of its volatile nature and unstability.

No actually the real danger of the cryptocurrencies is that they become something that is used by the black market traders for illegal activities, for quite some time this has been a really major issue which made some countries put some laws on using cryptocurrencies.

Because they are being used without being able to track down or know who is and for what it is used for, and that is a really big problem and we need to find a solution for it before it makes a really bad reputation for bitcoin.

Governments and the media will grab whatever it takes to talk down on Bitcoin in order to scare people off. If it's not the black/deep web markets, then it will be something else.

It's impossible to solve something that can't be solved. There is simply no way to prevent people from buying and selling all kinds of illegal goods through the numerous deep web markets.

I think it's important for people to realize that the blame should be put on people, and not on Bitcoin or other crypto currencies. Never blame the tool! Blame the abusers!

[Soul Reaper]

Crypto currencies like bitcoin , blackcoin, dogecoin etc have gained good pace in past few years.
Among these growth of Bitcoin has been the most.
The greatest danger of the cryptocurrencies( mainly Bitcoin )is also its greatest advantages.
That is it Bieng decentralised.
For those who don't know what decentralised is it means the there is no third party involved between their transaction like Bank or government in case of fiat.
It may be good to say that the commission which Bank takes or govt takes is avoided here.
But it has also resulted into many crimes gaining momentum like drugsale where the third party like banks etc dont exist.
Also if someone's blocchain account is hacked (which is very rare) then his entire money is gone and he can't claim it anywhere because no third party knows about it.
Many have their blackchai

[requester]

danger of bitcoin is its anonymity which welcomes the government and other intelligence agencies to takes down the currency from currency list. and danger of other cryptocurrencies is feasiability.

[mindrust]

I recently read that bitcoin might be a government project to make you use digital currency instead of cash.

I already pointed that danger out in my original post i guess, but couldn't expressed it like this clear.

I mean What if they want to make you want, to use bitcoins? Ever thought about this?

If they banned cash, everybody would go crazy! But instead, they come up with bitcoin, invention of the century! Digital Gold!

So you deposit your cash to buy pixels! With your own will. They don't force you to do it, but you do exactly what they want.

What if this digital gold is a way to make you poor?

[Sled]

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.

[Fireblazer]

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.

If the government would be willing to accept bitcoin, it is a very bad impact on the users. The fact that the state has always had control over income citizens and businesses. Therefore it is necessary to draw conclusions about whether to demand the legalization of the government or not.

[azguard]

Danger can be in fiat as well. But for bitcoin is something completely different. Some fact are that is easy to use and carry, true, but maybe big one is this that its Untraceable. Maybe cuz of this we see danger cuz in this option we have everything in our head (example it can be used for buying drugs gun hiring hitman....), this is true. Some say that that cuz its new he represent danger. This is divided opinion, Bitcoin is only a few years old, ok this is true. And also they is possibility that a competing crypto currency becomes more successful than Bitcoin or that somebody somehow finds a major flaw in the system.

We can speculate on many thing but in reality only what we see we take as granted.

[Winner]

The thought of having the CIA involved in Bitcoin is kind of funny actually -yet it does make me wonder why and how Gavin Andresen talked to the CIA so fast (If he really didn't talk to the CIA then that's funny as well). An electronic Currency Prototype that could be accessed to people all around the world within a certain timeframe is a weapon that the CIA could use because nobody really knows who really built the code for Bitcoin.

An electronic Currency is usually what people talk about when they think about the 666 -the mark of the Beast. The CIA or someone that's above that group wanted Bitcoin to be built for a single reason and I strongly think that everyone will find the answer soon enough.

[requester]

the main danger is the unstability of the currency. sometime the price touches high and sometime price drops down to even 90% or less so investor get heavy loss for that.

[KennyR]

the main danger is the unstability of the currency. sometime the price touches high and sometime price drops down to even 90% or less so investor get heavy loss for that.

We need to have a mentality to accept losses too. Important factor with bitcoin is the price varying in respect to time. I personally like the fluctuations, none other than bitcoin has got such feature. If the price is stable we cannot make better profit. Things are dangerous based upon the way we take it.

[Rogerdale]

I think the main danger is that if someone steals your coins (or you lose keys to your wallet), there are no ways to recover your funds. At all. This is not really important if we speak about individual people as cryptocurrencies act like cash in this case, but it is critical for large organizations and enterprises. Imagine that SEC approves Bitcoin ETF. This ETF can get billions of dollars from public and buy bitcoins with these dollars. What happens if this ETF gets hacked, like Mt.Gox or Bitfinex? All investors in this ETF will lose their funds at once. There are numerous warnings - do not trust your Bitcoins to anyone, keep them safely and securely in your wallet. But if people buy ETF shares, it would be like they buy Bitcoins and store them in the ETF wallet. And these funds will be too vulnerable. If people invest in a gold ETF, all funds are backed by gold and the gold is stored in a secure vault and it is hard to breach into this vault and steal this gold. And even if this gold is stolen, it is hard to hide it and it can be found and recovered by police. And it would be even more hard to sell this gold. However, if someone steals bitcoins, police are useless.

That's why SEC cannot approve this ETF.

[deisik]

I think the main danger is that if someone steals your coins (or you lose keys to your wallet), there are no ways to recover your funds. At all. This is not really important if we speak about individual people as cryptocurrencies act like cash in this case, but it is critical for large organizations and enterprises. Imagine that SEC approves Bitcoin ETF. This ETF can get billions of dollars from public and buy bitcoins with these dollars. What happens if this ETF gets hacked, like Mt.Gox or Bitfinex? All investors in this ETF will lose their funds at once. There are numerous warnings - do not trust your Bitcoins to anyone, keep them safely and securely in your wallet. But if people buy ETF shares, it would be like they buy Bitcoins and store them in the ETF wallet. And these funds will be too vulnerable. If people invest in a gold ETF, all funds are backed by gold and the gold is stored in a secure vault and it is hard to breach into this vault and steal this gold. And even if this gold is stolen, it is hard to hide it and it can be found and recovered by police. And it would be even more hard to sell this gold. However, if someone steals bitcoins, police are useless.

That's why SEC cannot approve this ETF

I would beg to differ

Though not with the point that bitcoins in such an ETF cannot be stolen since they surely can be. That's what I'm telling myself in respect to Bitcoin banks and assumptions that the bitcoins there will be somehow insured from thefts or hacks (they obviously won't). I assert that these risks are the same, for example, in web wallets or exchanges, but this didn't prevent them from springing up. So I don't think that these ETF's if they are going to be disapproved (which seems to be the most likely outcome) will be disapproved just because of that reason exactly

[Viscore]

the main danger is the unstability of the currency. sometime the price touches high and sometime price drops down to even 90% or less so investor get heavy loss for that.

We need to have a mentality to accept losses too. Important factor with bitcoin is the price varying in respect to time. I personally like the fluctuations, none other than bitcoin has got such feature. If the price is stable we cannot make better profit. Things are dangerous based upon the way we take it.

Definitely the price is our basis to trade and to earn from its volatility but I think that is not the after of majority of adopters in bitcoin. It's just an investment for certain number of people while mostly if not all of the adopters had enjoyed using bitcoin regardless of our purposes.
The danger is when we are just sleeping and we are not monitoring the market, we will certainly without with nothing if something bad happens.