The danger of the cyptocurrencies

[mindrust]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

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[noictib]

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 .

[darklus123]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping their wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

For me  there is really nothing to worry about because as today this one is really not yet possible and if ever that you are true that in the future only crypto currencies will be used all over the world by that time i guess are not in this world anymore

[Barbut]

Here we have some serious questions, even thou I`m aware this can`t happen anytime soon, I need to admit that I have some similar worries and suspicions. Not all the time, but sometimes when I start to think about some things, I see on how many questions we don`t have any answers.

" What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto?"

Well who can tell? They are cunning, who knows what can they do with money and man power like they have. It`s an army, infiltrated in almost all parts of society. Who is Satoshi, well it can be anyone, even some organization.

"Being dependent so much on computers just scares me."

I feel the same way in some moments, I don`t know can we do anything except sit and wait to see what will happen.

[LoyceV]

What if CIA behind this project?

It doesn't matter who's "behind" it. Fact is: Bitcoin is as it is. All strengths and weaknesses are known, "whoever is behind it" doesn't have more information than you or me. Blockchain is public knowledge.

I don't think the CIA created it. It's just someone (or a group) who created something that became successful.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

There are way too many far-fetched assumptions in here to be worth discussing.

[newIndia]

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

U r mistaken. In cryptocurrency, u r not dependent on computers. U r dependent on cryptography.

[pooya87]

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

[iqlimasyadiqa]

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.

[BlackPanda]

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 .

some people certainly believe that digital currencies like bitcoin could keep our privacy completely.

[densuj]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping their wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

Thank you very much, you have shared the opinion and unfortunately  i have made investment into bitcoin and other coins with just a little amount of money, so it is not dangerous for me, and in my opinion bitcoin is instrument of investments, it is does not currency. Bitcoin become dangerous if i don't have the private key. Thanks

[Wendigo]

Guys people have been living 'cashless' long before Bitcoin was first created. In Iceland for example people don't carry paper money with them at all and payments in cafe shops etc. are done with credit and debit cards. Also Bitcoin debit cards are tied to the banks and exchanges issuing them so going cashless doesn't simply mean embracing Bitcoin. Bitcoin is not a 'cashless' alternative to conventional bank cards but an additional option on top of it. You can buy a Starbucks gift card and become 'cashless' or get your phone out and pay with your Apple wallet. Again - 'cashless'.
I see no danger whatsoever of going cashless.

[mindrust]

I don't know guys.

Some of you agreed with me and some of you didn't, as i expected.

It just bugs me what if we are signing our own death certificate by supporting cryto currencies?

Yes it is decentralised for now and everyone can see the source code, but...

what if bitcoin becomes the only currency and suddenly it becomes centralised after an update?

See windows10? it should have been the ultimate windows, yet it sucks.

[mindrust]

Guys people have been living 'cashless' long before Bitcoin was first created. In Iceland for example people don't carry paper money with them at all and payments in cafe shops etc. are done with credit and debit cards. Also Bitcoin debit cards are tied to the banks and exchanges issuing them so going cashless doesn't simply mean embracing Bitcoin. Bitcoin is not a 'cashless' alternative to conventional bank cards but an additional option on top of it. You can buy a Starbucks gift card and become 'cashless' or get your phone out and pay with your Apple wallet. Again - 'cashless'.
I see no danger whatsoever of going cashless.

They are living cashless but it is not forbidden to "own" cash.

When bitcoin becomes the only choice, it won't be forbidden to "own" cash again yet you won't own/store any cash/gold because bitcoin will suck every value out of them.

That's the same thing as banning cash/gold.

Forget, gold. Forget papers. Forget 1's and 0's.

I'll just go and buy some land. That's the most important currency i think

[talkbitcoin]

you should look up the meaning of "open source" and "decentralize"

if any of the things you say were true then we could start a new bitcoin from scratch and make it decentralized with the open source of it that we have at hand.

or even move on to another coin!

[Slark]

Even if Satoshi was part of goverment, the only problem is his stash of bitcoin - which potentially could be used in the future to destabilize bitcoin market.

I don't see any privacy issues with bitcoin - it is decentralized and open sourced. I see, however, how centrally controlled FIAT system could be a very bad idea.

I am not a fan of digital money - I don't want to live in cashless society when my every transaction is monitored by government and my money can be blacklisted.

[sksagaon]

Nothing The danger of the cyptocurrencies. I think crypto currency future looks very good at this time.

[BTCLovingDude]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

these are a lot of what ifs what seem too far fetched if you ask me. and some of them just look to me (at least this is my opinion) that some of these are not even well thought.

for example what do you mean by "what if CIA behind this project"? you mean what if they have some kind of malicious code inserted inside bitcoin code or are you thinking about them controlling the supply? both of which don't seem to be true to me!

[BiTZeD]

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

[Oralmat]

If i see the reality than nothing is happened as you said, I am not saying you are wrong, that is your thread and i respect it and also your thinking. But in my opinion, I don't think that fiat currency will be die now and ever, Crypto currency can be ended, but fiat currency always remain in the world.

[davis196]

You are probably aware of the recent news about removing the fiat money for good and building up the cashless world.

Have you thought that bitcoin maybe the first step of this utopia? What if CIA behind this project? Would you still keep your money as bitcoins? Would you trust them? Do we know who the hell is Satoshi Nakamoto? I suure don't.

There is one big danger ahead. If the paper money gets removed, you will have no choice but to accept to get paid in crypto currencies. And to the big point:

If you keep your money in a goddamn computer, the government can rip you off instantly if they wanted it. I am not saying they aren't doing that already as most of us are keeping *our wealth in the banks. But cryptos will make their jobs easier. Much easier.

What if bitcoin price rises to 1.000.000$ and gold and USD become literally worthless? That's when bitcoin will be the world currency, and people gonna realise that gold is just a stone, USD is just a toilet paper.

Your won't have another choice but to store your money only in crypto, because the other choices will be worthless!

 I am not sure if that's a good thing. Being dependent so much on computers just scares me.

Yes,the gold is just a stone,USD is just toilet paper and bitcoin is just a bunch of programming code.

People`s trust determines the value of a currency.

The "cashless world" utopia won`t happen soon and there is nothing to worry about.