The danger of the cyptocurrencies

[arransiv]

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.

Far-fetched assumption, I think it just fantasies to say gold just a stone and dollar just a toilet paper in the future of cryptocurrencies world.
something judged on their usefulness, gold is the best precious metal that has been used for a long time in daily life such as in the electrical and electronics, even as a teeth and additives in food. The same applies for USD, it's a states currency and will always be.

In fact, just in daily life gold is far from being perfect. It is not the best conductor to be used in electronics (silver and superconductors are), gold teeth are outright ugly and highly favored by criminals of all sorts and gypsies (ceramics are the best in this field). I don't know anything about adding gold to food, but all I can say is that it just sounds scary...

Gold is best when it comes to its appearance, touch and feel, and that's where it derives most of its value from

Silver is a better conductor than gold? are you sure? o0

Truth is, it's like art! People put the value they want in all things of this world...

[deisik]

In fact, just in daily life gold is far from being perfect. It is not the best conductor to be used in electronics (silver and superconductors are), gold teeth are outright ugly and highly favored by criminals of all sorts and gypsies (ceramics are the best in this field). I don't know anything about adding gold to food, but all I can say is that it just sounds scary...

Gold is best when it comes to its appearance, touch and feel, and that's where it derives most of its value from

Silver is a better conductor than gold? are you sure? o0

Yes, I'm sure. Silver is the best heat and electricity conductor among all metals. It is not used as a conductor because it is a precious metal itself (like gold), and it corrodes and oxidizes quite easily (unlike gold). When and where oxidation is not an issue, copper is typically used. In electronics gold is primarily used for connectors...



As you can see, gold is not even second

[lixer]

that's why it's important to protect your PC and mobiles, hackers nowadays are very arrogant

Yes, it is highly important to secure your computer or mobile devices with the best quality technology to prevent bad guys from getting access to them, else if your bitcoin wallet is there and you fail to take the right action, you may probably find yourself in a big danger.

[wutard]

that's why it's important to protect your PC and mobiles, hackers nowadays are very arrogant

Yes, it is highly important to secure your computer or mobile devices with the best quality technology to prevent bad guys from getting access to them, else if your bitcoin wallet is there and you fail to take the right action, you may probably find yourself in a big danger.

The example of what happened with Bitfinex, it is already possible to assume that no one is safe from bad surprises. Many users have lost their coin forever. But it is very bad because of the anonymity that can neither insure the property or not even apply for the violation of the rights of consumers in court. Otherwise, one would partially recover anything currently.

[onelove2111]

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

[rizkyhiw]

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

[jossiel]

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

We can't remove the reason that many are loving bitcoin it's because we are not covered with the taxation of our countries.

And if the government will make a law for totally making bitcoin as threat to the society and helps the people to evade tax then it is dangerous to us.

Another danger of it I can see that the hackers are getting more focus to the transactions that are happening for everyday.

[groll]

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

We can't remove the reason that many are loving bitcoin it's because we are not covered with the taxation of our countries.

And if the government will make a law for totally making bitcoin as threat to the society and helps the people to evade tax then it is dangerous to us.

Another danger of it I can see that the hackers are getting more focus to the transactions that are happening for everyday.

I think bitcoin is not a threat to the society because it doesn't make people evade tax. Let's say bitcoin itself has no tax, but the goods and services people buys and pays for are being taxed. Another thing, hackers are the threat. So we just have to be keen and wise in making our transactions to avoid troubles with those hackers.

[lionheart78]

If you have a bitcoin is definitely one you do not take in taxes. Because it is impossible to trace the owner. The entire system is designed for the fact that all the operations should take place anonymously. Here are just a very worrisome that illegal oborutki may be of great interest to cryptocurrency as a whole.

But you know it's useless when someone have a purpose to avoid taxes and invest their money in bitcoin
But then the price of bitcoin dropped so hard to the lowest , means they lost value so much
Instead to avoid taxes they just lost their wealth , as when this happened usually they get a panic attack and sell it all immediately
Avoiding taxes in bitcoin is not really a dangerous thing i guess.

We can't remove the reason that many are loving bitcoin it's because we are not covered with the taxation of our countries.

And if the government will make a law for totally making bitcoin as threat to the society and helps the people to evade tax then it is dangerous to us.

Another danger of it I can see that the hackers are getting more focus to the transactions that are happening for everyday.

I think bitcoin is not a threat to the society because it doesn't make people evade tax. Let's say bitcoin itself has no tax, but the goods and services people buys and pays for are being taxed. Another thing, hackers are the threat. So we just have to be keen and wise in making our transactions to avoid troubles with those hackers.

I agree I can't see bitcoin as a threat to government, in my opinion it even enhances performance of the finance sector because of the competition.  If the government want bitcoin to be taxed, it is easy for them to implement it.  They can impose an extra charge for cryptocurrency transaction like buying stuff.  Though when we buy stuff, tax is already included with it, if the government thinks that it is enough, it will be easy for them because they just have to reach out to the merchant that accept bitcoin to add a gov't tax to it.

[bitbunnny]

In some countries Bitcoin is taxed but not because governments are afraid of Bitcoin bur because they want to collect their part of earning.
They see Bitcoin like any other types of investment or capital that has to be taxed. No one actualy doesn't have fear from cryptocurrencies anymore, they are all just trying to have their peace of cake.

[Fatanut]

In some countries Bitcoin is taxed but not because governments are afraid of Bitcoin bur because they want to collect their part of earning.
They see Bitcoin like any other types of investment or capital that has to be taxed. No one actualy doesn't have fear from cryptocurrencies anymore, they are all just trying to have their peace of cake.

I can't even think of a single country where bitcoin is being taxed. "Some countries"? Can you name even just one or two of them? I'll be happy to know that their government is powerful enough to control the bitcoin network and put tax on bitcoin users. Bitcoin is purely decentralized and the main essence of it is so that we can't be controlled by the government. I agree that they want to put tax on every single income that we make but I don't think it's possible to do in bitcoins.

[deisik]

In some countries Bitcoin is taxed but not because governments are afraid of Bitcoin bur because they want to collect their part of earning.
They see Bitcoin like any other types of investment or capital that has to be taxed. No one actualy doesn't have fear from cryptocurrencies anymore, they are all just trying to have their peace of cake.

I can't even think of a single country where bitcoin is being taxed. "Some countries"? Can you name even just one or two of them? I'll be happy to know that their government is powerful enough to control the bitcoin network and put tax on bitcoin users. Bitcoin is purely decentralized and the main essence of it is so that we can't be controlled by the government. I agree that they want to put tax on every single income that we make but I don't think it's possible to do in bitcoins.

I guess bitbunnny meant to say that the income obtained from operations with Bitcoin is taxable. The latter requires that Bitcoin should be legally accepted by the authorities as either a financial asset (the US) or a foreign currency (Russia). In this way, governments don't need to tax Bitcoin directly, but the effect is essentially the same...

And don't forget that a law-abiding citizen should declare his income as well as calculate and pay the income tax himself

[marleybobthedog]

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

[springgers]

In fact, just in daily life gold is far from being perfect. It is not the best conductor to be used in electronics (silver and superconductors are), gold teeth are outright ugly and highly favored by criminals of all sorts and gypsies (ceramics are the best in this field). I don't know anything about adding gold to food, but all I can say is that it just sounds scary...

Gold is best when it comes to its appearance, touch and feel, and that's where it derives most of its value from

Silver is a better conductor than gold? are you sure? o0

Yes, I'm sure. Silver is the best heat and electricity conductor among all metals. It is not used as a conductor because it is a precious metal itself (like gold), and it corrodes and oxidizes quite easily (unlike gold). When and where oxidation is not an issue, copper is typically used. In electronics gold is primarily used for connectors...



As you can see, gold is not even second

Wow that's more than I know, thanks for sharing knowledge with us, I don't even know what's copper, I'll make a search...

So bitcoin is like gold, we have betters coins but bitcoin have the bigger price

[jak3]

cryptocurrencys are a way which changed our technical financial systems and point of views these are the main reason in these 5-7years which not only rapidly got huge about o popularity or success but also made an irrisistable histry in the worlds strongest currency list after the gold

[Catmony]

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

Actually government don't have any way to just ban the use of bitcoin as it is decentralized so they can't just make people stop using bitcoin. As well as without price fluctuation bitcoin may become just like normal fiat, the beauty of bitcoin remain in its price swing.

[Rastaman2016]

cryptocurrencys are a way which changed our technical financial systems and point of views these are the main reason in these 5-7years which not only rapidly got huge about o popularity or success but also made an irrisistable histry in the worlds strongest currency list after the gold

If it is about to use or bitcoin bitcoin was safe, then at that time you can always expect danger or even risk with respect to their savings. But really after a few years it should stabilize.

[Hettinger]

The danger of altcoins is that they can go down but also go up its just how the market goes, these days you have  lot of pump and dump altcoins and that is just so bad and risky.

[Sierra82fit]

The danger of altcoins is that they can go down but also go up its just how the market goes, these days you have  lot of pump and dump altcoins and that is just so bad and risky.

I am interested in only one question about the safety of my savings into Bitcoin, if the state in which I dwell not recognize today cryptocurrency, and on this I can not pay taxes and therefore have illegal money. What can you do in such situations.

[Lorik]

Danger of cryptocurrency is their decentralized nature that makes the coin against government's policy. And due to its anonymity it makes them more useable in illegal activities. Also government could ban anytime and the biggest fear is the price keeps fluctuating and if price drops downs and never rise up then it's a huge loss.

Perhaps the time will come when some governments recognize bitcoin and users will not be limited in scope, and it will no longer think about the dangers of using cryptocurrency.