The danger of the cyptocurrencies

[Foref1982]

I keep a great danger of cryptocurrencies that they're new and can have hidden orphan errors. Maybe, I like a cryptocurrency that has potential, but before returning my investment, its price could totally go down and by time disappear from exchanges. The case isn't the same with fiat. I can't imagine USD disappear overnight 

[naidray]

We can see that a lot of altcoins die just after its ICO but that is because the developers after getting a lot of money do not care any more for their currency and the investors do not have much experience and maybe will not have time to work for the currency they have invested in so with no support that coin go die.

But with bitcoin we cannot think like that as it is a major crypto currency and there are a lot of developers working for its success and the investors bring good time for it.

The marketcap of bitcoin is much higher and a number of big companies have invested their money in bitcoin and a number of companies have adopted bitcoin for their use so it will not disappear like other crypto currencies and we have to rely on bitcoin for the security of our money.

[hasiramasenju]

i'm not sure this will be happening indeed we still don't know who behind bitcoin even though i wish bitcoin will became an global currency but i don't think they will remove paper money or make gold became worthless but if this happening there is no way except accepting this situations because we have no choice and only can use crypto currency for our daily life but i'm gonna call this with big conspiracy to take over the world

[bitcoinisbest]

Firstly government can ban the currency.
Secondly the value is not stable and can even touch to zero .
Thirdly it can be misuse as well easily.

[requester]

begin decentralized government are again it because it could lead to money laundering system for week nation. so many government had already banned bitcoin either completely our partially like in China bank employee are not allowed to use bitcoin. so if the same happens in my country i will suffer a losses of about 0.04 btc

[Golftech]

begin decentralized government are again it because it could lead to money laundering system for week nation. so many government had already banned bitcoin either completely our partially like in China bank employee are not allowed to use bitcoin. so if the same happens in my country i will suffer a losses of about 0.04 btc

so better to exchange it right away to your local currency to avoid loses, we just needed to be open minded about this if many crypto traders forces the government or state it will bring btc freedom and it will break the chain of being controlled by few.

[mace15]

Firstly government can ban the currency.
Secondly the value is not stable and can even touch to zero .
Thirdly it can be misuse as well easily.

Yes this is possible that currency be ban by government.
Since the price of this cryptocurrency is volatile and can
even brought danger to anyone.

[romero121]

Cryptocurrencies always have their own risk as its decentralized. With digital currency one can earn if he doesn't fear about the future of digital currency growth or about its survival. If he starts analysing the demerits of digital currency one won't easily enter into digital currency usage.

[dearbesz1219]

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.

Unfortunately, I don't see any danger in crypto currency just like what happen now in Bitcoin. In fact most of the altcoins are getting good condition and  very stable into it aside from they are helping bitcoin to be promote as well in different places in the countries.

[Xenophoto]

~Snip~

First of all, how is the government going to close our Bitcoin wallets? Do they control the internet? Are they some kind of hackers that have an access of blockchain? No. The essence of Bitcoin is that the government will never have a control with our money. They can't shut it down unless they torture you into giving them the password to you account, which is illegal btw.

Fiat becoming worthless just proves how much Bitcoins has risen. It has overcome the all of the present currencies and got rid of the useless fiat money.

If Bitcoin rises that much, then all of us will live a life of a millionaire. To be honest, OP's just overthinking and most of his ideas aren't worth answering.

[springgers]

Altcoins have only one aim. Only one.

Making the owners rich again. :p

The only altcoin is worth holding was litecoin but it is pretty much dead too. Was it fontas or gayser can't remember, one of these douchebags killed it.

Half true... For sure the developers get rich with an alt but not all, there's a lot of coins over there, coin about nothing, coin that promises the world, coin about future, blablabla, it's out of control.

Few alts have a good point, they are using good the blockchain, don't put everything in the same bag.

edit:

~Snip~

First of all, how is the government going to close our Bitcoin wallets? Do they control the internet? Are they some kind of hackers that have an access of blockchain? No. The essence of Bitcoin is that the government will never have a control with our money. They can't shut it down unless they torture you into giving them the password to you account, which is illegal btw.

Fiat becoming worthless just proves how much Bitcoins has risen. It has overcome the all of the present currencies and got rid of the useless fiat money.

If Bitcoin rises that much, then all of us will live a life of a millionaire. To be honest, OP's just overthinking and most of his ideas aren't worth answering.

They can ban the market to receive the coins, so, where do you will spend it?

[marleybobthedog]

I fear cryptocurrency too much because there is more chance of gaming scammed and number of scammer and fraud trader is very high in cryptocurrency. So  to deal with cryptocurrency we have to be very alert and brave.

[Sir Alpha_goy]

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.

Overall your fears are warranted.

People should always remember what happens when things fall out of balance.

Why do you think Bitcoin is here in the first place?

As far as your claim about stones and toilet paper I half agree.

People will realize that the USD would make good toilet paper.

The day that they call gold "just a stone" however would be a sad day.

They might need to be reminded that following contain gold:

-Mother Boards
-Graphics cards
-Hard drives
-CPUs
-Servers
-Tablets
-Smart Phones

All of which are used to facilitate the mining, transaction verification, and campaign propagation of Bitcoin (via the internet) and all of its derivatives.

If gold is worthless then miners don't mine which means raw materials vanish into thin air.

[susila_bai]

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.

Overall your fears are warranted.

People should always remember what happens when things fall out of balance.

Why do you think Bitcoin is here in the first place?

As far as your claim about stones and toilet paper I half agree.

People will realize that the USD would make good toilet paper.

The day that they call gold "just a stone" however would be a sad day.

They might need to be reminded that following contain gold:

-Mother Boards
-Graphics cards
-Hard drives
-CPUs
-Servers
-Tablets
-Smart Phones

All of which are used to facilitate the mining, transaction verification, and campaign propagation of Bitcoin (via the internet) and all of its derivatives.

If gold is worthless then miners don't mine which means raw materials vanish into thin air.

What you told is 100% right gold and silver are not only used as ornaments but they are used in lot of products to be manufactured using this as raw materials so , i also believe that they wont go worthless.

But the fear of cryptocurrencies is also ok. that is why i dont keep fully investment in cryptocurrencies i convert them to fiat currency and invest in land as this investment cannot vanish.

[QuestionAuthority]

You watch too many sci-fi movies.

Governments need crime and terrorism to keep themselves in power, make big government important and keep their taxes massive. All criminals eventually need to convert their sales into a governments currency to buy things they need and want like cars and houses. The elimination of fiat currency and establishment of absolute government tracking of value around the world would end the need for big military and big law enforcement. That would remove power from government and cut taxes which is the last thing government wants. Fiat will be around until the last corrupt politician dies in the arms of the last surviving mega corporation. So essentially it will be around forever.

[goinmerry]

You watch too many sci-fi movies.

Governments need crime and terrorism to keep themselves in power, make big government important and keep their taxes massive. All criminals eventually need to convert their sales into a governments currency to buy things they need and want like cars and houses. The elimination of fiat currency and establishment of absolute government tracking of value around the world would end the need for big military and big law enforcement. That would remove power from government and cut taxes which is the last thing government wants. Fiat will be around until the last corrupt politician dies in the arms of the last surviving mega corporation. So essentially it will be around forever.

This proves that the government is really dirty specially USA which is best at making weapons of massive destruction. Of course they will look good at movies but what is the truth. I guess they are getting some shares with other countries industries with the trade of their weapons.

[QuestionAuthority]

You watch too many sci-fi movies.

Governments need crime and terrorism to keep themselves in power, make big government important and keep their taxes massive. All criminals eventually need to convert their sales into a governments currency to buy things they need and want like cars and houses. The elimination of fiat currency and establishment of absolute government tracking of value around the world would end the need for big military and big law enforcement. That would remove power from government and cut taxes which is the last thing government wants. Fiat will be around until the last corrupt politician dies in the arms of the last surviving mega corporation. So essentially it will be around forever.

This proves that the government is really dirty specially USA which is best at making weapons of massive destruction. Of course they will look good at movies but what is the truth. I guess they are getting some shares with other countries industries with the trade of their weapons.

 Yes they are really corrupt and have been since the Roman empire. Politicians can't allow the elimination of fiat. How could they take bribes without fiat?

[gandame]

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.

Yeah crypto currency can lost any time so their is a danger in crypto currency because if no miners of crypto currency it will be dead soon. But fiat can not lost we know that fiat currency is very useful so it can not be ended.

[Taki]

I also think that the world will move on just crypto currencies using in future. Paper money are going in past and even cards too. Remind the app Apple Pay. But the danger is in protection of crypto currencies. We are not feel 100% saved putting money in a bank, so what to tell about some internet services for holding money. If someone hack it you even can not find who made that.

[satdas]

i think it is not such an easy job and if it is happening for the betterment of the people then what is wrong in it i think we should welcome this change and should give full support to it.