The danger of the cyptocurrencies

[Herbert2020]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

this is rather nonsense in my opinion.
every crypto currency that i have seen so far were open source, besides we are talking bout bitcoin mainly. and if there was some way of tracking, controlling, etc apart from the obvious known ways that we all know like a hidden code in the main code it would have been found and busted after 8 years, don't you think!

[klopcoin]

The government can't control the bitcoins that we store in paper wallets, those can essentially take the place of fiat.

I am agree with that thing. Bitcoin have realy obvious anonimity. It will be nice if no one can trace our transaction activity. But it also not good if criminal use bitcoin in illegal activity. Should we make petition to blockchain to make bitcoin transaction is trace able??

[Mr.grin]

I think that is dangerous from cyptocurrencies is that cyptocurrencies always associated with crime on the internet. Well, I guess cyptocurrencies also spread a lot in deepweb and serve as a means of transaction, it makes more and more illegal transactions occur

[danherbias07]

The danger of being online. Anything that comes from the internet cant be backed up by some certain facts. What if I say you now that bitcoin is the creation of the devil. Would you believe it?
The internet thing provides some information but you are not very sure that it is the truth.

[deisik]

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

And what does it change? Bitcoin is an open-source project, so it doesn't matter much who made the first commit, an alphabet agency or some recluse developer

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.

Paper money won't get removed any time soon. There are a lot of places across the globe where people are living not only without Internet but even without electricity. But even where the use of payment cards is universal, you still sometimes have to pay with paper note for whatever technical issues might arise. Ultimately, this all is irrelevant in respect to you big point. The government could just as easily rip you off of your paper money as with digital money if they ever wanted to...

Ever read about confiscatory monetary reforms?

[BlockEye]

The danger of being online. Anything that comes from the internet cant be backed up by some certain facts. What if I say you now that bitcoin is the creation of the devil. Would you believe it?
The internet thing provides some information but you are not very sure that it is the truth.

So always do a research before believing on some facts yhat you will on internet. Actually even fiat money is online now. Everything is on online it is just matter on how you secure your account so that it will not be lose or be hacked by someone.

[abayan]

The government can't control the bitcoins that we store in paper wallets, those can essentially take the place of fiat.

I am agree with that thing. Bitcoin have realy obvious anonimity. It will be nice if no one can trace our transaction activity. But it also not good if criminal use bitcoin in illegal activity. Should we make petition to blockchain to make bitcoin transaction is trace able??

Well bitcoin transactions is not really anonymous like you are thinking right now that it will not be trace or tracked by a person. Well it cant be track by the normal person but the person the is pro then it will be tracked. Well like in illegal activities it is very difficult to track which means it can be track but it is pretty difficult to do that.

[deisik]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

Whoever might be behind a cashless world, this won't change much in this respect. Criminals are certainly not there because of the paper money, but that's what your point essentially comes down to. If there is no more paper money, they will start using gold bars and coins (and silver as change) for settling their "accounts". This will obviously lead to gold and silver prices skyrocketing to new heights, something that every gold bug out there could ever dream of...

There will always be something used as a direct medium of exchange

[mindrust]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

Whoever might be behind a cashless world, this won't change much in this respect. Criminals are certainly not there because of the paper money, but that's what your point essentially comes down to. If there is no more paper money, they will start using gold bars and coins (and silver as change) for settling their "accounts". This will obviously lead to gold and silver prices skyrocketing to new heights, something that every gold bug out there could ever dream of...

There will always be something used as a direct medium of exchange

If there is no cash, they can't  skyrocket.   Gold and Silver themselves become the rocket. That means you won't have to estimate gold prices in FIAT anymore because there won't be any.

Lets say If my house is worth 200k$=157,48ounces of gold, today;

When the cash gets removed, Everything will be fucked. It is worth can rise to 500ounces of gold or it can be dropped to 100ounces. People gonna freak out, some stuff will have more priority than the others as it should have been long time ago. (like food and shelter)

A nice house is a nice house. You can estimate its value for USD because with the same amount of USD  you know  that you can buy another "nice house" from somewhere else. Until gold provides that kind of trust, everything will be doomed for a few months maybe years.

I haven't even mentioned the gold counterfeiters. If there is something gonna skyrocket in those times, it is them.

[deisik]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

Whoever might be behind a cashless world, this won't change much in this respect. Criminals are certainly not there because of the paper money, but that's what your point essentially comes down to. If there is no more paper money, they will start using gold bars and coins (and silver as change) for settling their "accounts". This will obviously lead to gold and silver prices skyrocketing to new heights, something that every gold bug out there could ever dream of...

There will always be something used as a direct medium of exchange

If there is no cash, they can't  skyrocket.  Gold and Silver themselves become the rocket. That means you won't have to estimate gold prices in FIAT anymore because there won't be any.

Lets say If my house is worth 200k$=157,48ounces of gold, today;

When the cash gets removed, Everything will be fucked. It is worth can rise to 500ounces of gold or it can be dropped to 100ounces. People gonna freak out, some stuff will have more priority than the others as it should have been long time ago. (like food and shelter)

A nice house is a nice house. You can estimate its value for USD because with the same amount of USD  you know  that you can buy another "nice house" from somewhere else. Until gold provides that kind of trust, everything will be doomed for a few months maybe years.

I haven't even mentioned the gold counterfeiters. If there is something gonna skyrocket in those times, it is them.

Read first, then reply, and not the other way round

The point is about a cashless world, not a world without money (fiat). Fiat is already mostly digital, so the question is what would happen if paper money gets completely removed, and all your expenditures will be "monitored everywhere". My point is that precious metals will be used instead of ready money (cash), but this doesn't per se mean that they will cease to be priced in dollars, bitcoins, or whatever

[mindrust]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

Whoever might be behind a cashless world, this won't change much in this respect. Criminals are certainly not there because of the paper money, but that's what your point essentially comes down to. If there is no more paper money, they will start using gold bars and coins (and silver as change) for settling their "accounts". This will obviously lead to gold and silver prices skyrocketing to new heights, something that every gold bug out there could ever dream of...

There will always be something used as a direct medium of exchange

If there is no cash, they can't  skyrocket.   Gold and Silver themselves become the rocket. That means you won't have to estimate gold prices in FIAT anymore because there won't be any.

Lets say If my house is worth 200k$=157,48ounces of gold, today;

When the cash gets removed, Everything will be fucked. It is worth can rise to 500ounces of gold or it can be dropped to 100ounces. People gonna freak out, some stuff will have more priority than the others as it should have been long time ago. (like food and shelter)

A nice house is a nice house. You can estimate its value for USD because with the same amount of USD  you know  that you can buy another "nice house" from somewhere else. Until gold provides that kind of trust, everything will be doomed for a few months maybe years.

I haven't even mentioned the gold counterfeiters. If there is something gonna skyrocket in those times, it is them.

Read first, then reply, and not the other way round

The point is about a cashless world, not a world without money (fiat). Fiat is already mostly digital, so the question is what would happen if paper money gets completely removed, and all your expenditures will be "monitored everywhere". My point is that precious metals will be used instead of ready money (cash), but this doesn't per se mean that they will cease to be priced in dollars, bitcoins, or whatever

It is the same thing deisik, it is the same thing . If physical cash gets removed, those 1's and 0's in the bank accounts won't mean a shit. They all gonna collapse. If they ever remove cash they are going to force people to stay in the banking system. As you know, most people won't agree with this crap. And it is going to ruin FIAT or cash or digital dollars, papers or whatever you name, all will be collapsed.

Once FIAT,Cash,Paper,Digital Dollars or whatever you name them are gone, people will need another base currency and it will be Gold. Till it becomes the basic currency, lots of lots of shit going to happen. That's what i say.

[groll]

It would be hard if paper money will be eliminated and all our money will be kept on our digital wallet.  There would be a huge adjustment on every thing like stores and other transactions that we made with fiat currency.  It would be hard to buy a candy, a stick of cigarette, or a piece of bread if everyone will use or if the use of digital money will be implemented.

[pinoycash]

The only danger i can think of, criminals and terrorist can move funds with anonymity and without raising any alarms when using banks to move and clean their funds.

[BitcoinSupremo]

It would be hard if paper money will be eliminated and all our money will be kept on our digital wallet.  There would be a huge adjustment on every thing like stores and other transactions that we made with fiat currency.  It would be hard to buy a candy, a stick of cigarette, or a piece of bread if everyone will use or if the use of digital money will be implemented.

There is still much time until paper (cash money) will be eliminated, if eliminated at all. We should use bitcoin as the better alternative and to achieve our goals. Bitcoin is the revolution and the revolution cannot be stopped. There's no real danger for cryptocurrencies as of yet.

[amacar2]

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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.

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Bitcoin price can grow to really high range however i don't think 1,00,000$ is quite possible as there will be 21 million total bitcoin so marketplace need to be really high like more than 1000 billion which i think is quite hard to reach.

And gold is also supported by big community as it is known as precious metal from long time ago so i don't think people ever gonna consider it as just stone.

USD is still dominating majority of financial market so i doubt they will be treated as toilet paper anytime soon, but for sure anybody can use USD paper money as toilet paper if he hates it.  

[Xester]

It would be hard if paper money will be eliminated and all our money will be kept on our digital wallet.  There would be a huge adjustment on every thing like stores and other transactions that we made with fiat currency.  It would be hard to buy a candy, a stick of cigarette, or a piece of bread if everyone will use or if the use of digital money will be implemented.

Definitely agree with you.  I also would like to add that if we would use digital currencies, the world should be prepared with it.  Every country, every corner of the world should have access with electricity.  Every house should have computers and internet connection.  And there is no way that there would be a brownout.  

[SmirnoffVany]

I do not think that can be a great danger to cryptocurrency than it has shown us the case with the exchange bitfinex. Poor when their wallets are accessed by other persons.

[serjent05]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

Well privacy had been violated again and again by the government, are they sued for it? NO.  Because they are the authority.  No matter how hard you try to shout our "foul" thats a violation of privacy, it won't be heard because privacy had been down since the social meda like FB had been used.  Not saying that your mobile phone may had been tapped and the reason they know your location anywhere you are in the world.  It has a tracking device, and people are fond of putting their real identities in their phone. 

[olyaru]

I do not think that can be a great danger to cryptocurrency than it has shown us the case with the exchange bitfinex. Poor when their wallets are accessed by other persons.

I do not believe that the situation with the exchange was spontaneous. There has not been without administration intervention and the loss of such a large number of coins can not pass unnoticed.

[arransiv]

If CIA is behind a cashless world then the Criminals will be gone in a day. As tracking them would be possible and all wallets are controlled by the government. There won't be anymore freedom on where you spend your money as it will be monitored everywhere. Even creating a new wallet address must be screened by the government. But I don't think that is possible as it is a violation of privacy.

Well privacy had been violated again and again by the government, are they sued for it? NO.  Because they are the authority.  No matter how hard you try to shout our "foul" thats a violation of privacy, it won't be heard because privacy had been down since the social meda like FB had been used.  Not saying that your mobile phone may had been tapped and the reason they know your location anywhere you are in the world.  It has a tracking device, and people are fond of putting their real identities in their phone. 

I think they can't use it as a proof if they are violating the privacy... However they make the rules, they apply the rules, they judge everything... So it's hard to go against they. Cellphones nowadays is a big joke and well, some services like FB, Google and others have acess to all your data because you acepted the ToS.