The danger of the cyptocurrencies

[Snorek]

Use a hybrid type of password which contains ,alpha,numeric,at least one upper case and lower case, 8 or more than characters

Do you think that weak passwords are the main reason behind hacked accounts?
Some of them are, but hackers won't go on bruteforcing rampage for passwords anymore.
From my experience the main reasons behind hacked accounts are these:

1. Keyloggers - if you are worried about this possibility you may want to start using virtual keyboard, when typing password for important sites like your online BTC wallet or exchange.
2. Remote Administration Tool - can give hacker direct access o your computer.
3. Viruses/Trojans
4. Database of the service you were using got leaked, along with your login/password.

[shinratensei_]

Use a hybrid type of password which contains ,alpha,numeric,at least one upper case and lower case, 8 or more than characters

Do you think that weak passwords are the main reason behind hacked accounts?
Some of them are, but hackers won't go on bruteforcing rampage for passwords anymore.
From my experience the main reasons behind hacked accounts are these:

1. Keyloggers - if you are worried about this possibility you may want to start using virtual keyboard, when typing password for important sites like your online BTC wallet or exchange.
2. Remote Administration Tool - can give hacker direct access o your computer.
3. Viruses/Trojans
4. Database of the service you were using got leaked, along with your login/password.

and mostly are the number 3 with various type and generate. and the database leaked are dominant one. are physing is included for that reason?

[rababo]

Some of the dangers of cryptocurrencies is that many are run by scam devs and sites, not the cryptocurrencies itself.
Cryptocurrencies is decentralized and no one has control of it. Government can't take control over it because they have no base regulations for it.
IMO, people should start to believe and use cryptocurrencies because cryptocurrencies have so much potential as digital currency in future.

[clickerz]

Some of the dangers of cryptocurrencies is that many are run by scam devs and sites, not the cryptocurrencies itself.
Cryptocurrencies is decentralized and no one has control of it. Government can't take control over it because they have no base regulations for it.
IMO, people should start to believe and use cryptocurrencies because cryptocurrencies have so much potential as digital currency in future.

That is a FACT. Those cryptocurrencies that is run by scammers. They only want you bitcoin or money and after launching,several months after they are nowhere to be found.

[South Park]

Use a hybrid type of password which contains ,alpha,numeric,at least one upper case and lower case, 8 or more than characters

Do you think that weak passwords are the main reason behind hacked accounts?
Some of them are, but hackers won't go on bruteforcing rampage for passwords anymore.
From my experience the main reasons behind hacked accounts are these:

1. Keyloggers - if you are worried about this possibility you may want to start using virtual keyboard, when typing password for important sites like your online BTC wallet or exchange.
2. Remote Administration Tool - can give hacker direct access o your computer.
3. Viruses/Trojans
4. Database of the service you were using got leaked, along with your login/password.

Dude, you misquoted me, I did not post what you quoted, that was the user “darklus123” is not a big deal, but I needed to point it out.

About your post I think you are mostly correct but we still need strong passwords to protect our accounts.

[dinofelis]

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

I only saw your thread now.  I agree with you.  To me, bitcoin was a great invention, but had some (understandable) design errors which resulted in its centralization in China.  China not being the country that protects at best individual rights, the Chinese government can take over bitcoin at any moment.  That said, almost any rich government can do so, by setting up huge mining farms somewhere in a hidden place (area 51 ? ).

This is why I think that the real future of crypto currencies is the continuous creation and use of altcoins.  I know that sounds strange to bitcoin enthusiasts, but "centralization" is just as well on the basis of uniformisation of protocol than on centralization in hierarchical structures.   The word is "diversify".   Cryptocurrencies should be diversified.  New altcoins should continuously be created and used, and total market cap should be spread over many of them, continously changing.  If bitcoin becomes the crypto monopolist, then that's a single point of failure.

This buthurts the hodlers, who want to obtain maximum "seigniorage" for minimum investment for nothing, but has nothing to do with the actual *use* of crypto.  What saves eco systems, economies, invester portfolio, and democracies is diversity.  Because diversity allows at least a fraction to escape calamity.  Uniformity is great, until the uniform system is victim of a calamity (such as a government takeover).  Distributed systems are diversified.  Monopolies are their enemy.  Crypto is no different.

[danherbias07]

Some of the dangers of cryptocurrencies is that many are run by scam devs and sites, not the cryptocurrencies itself.
Cryptocurrencies is decentralized and no one has control of it. Government can't take control over it because they have no base regulations for it.
IMO, people should start to believe and use cryptocurrencies because cryptocurrencies have so much potential as digital currency in future.

Should be decentralized. But what is happening now? They create new ones and make people trust in it which we know there are people who can control it. That is why they cant match bitcoin. That simple difference defines everything.

[deisik]

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

I only saw your thread now.  I agree with you.  To me, bitcoin was a great invention, but had some (understandable) design errors which resulted in its centralization in China.  China not being the country that protects at best individual rights, the Chinese government can take over bitcoin at any moment.  That said, almost any rich government can do so, by setting up huge mining farms somewhere in a hidden place (area 51 ? )

If a few rich governments actually did something like that, they wouldn't be able to control Bitcoin through mining due to the competition setting in between them, right? And then they would be essentially back to square one, i.e. where they started. So why would they want to do that in the first place? Even if there were only one government (going after Bitcoin in this way), they would most likely just waste resources without any positive effect in the end...

Since they could simply outright ban Bitcoin and get done with it

[South Park]

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

I only saw your thread now.  I agree with you.  To me, bitcoin was a great invention, but had some (understandable) design errors which resulted in its centralization in China.  China not being the country that protects at best individual rights, the Chinese government can take over bitcoin at any moment.  That said, almost any rich government can do so, by setting up huge mining farms somewhere in a hidden place (area 51 ? ).

This is why I think that the real future of crypto currencies is the continuous creation and use of altcoins.  I know that sounds strange to bitcoin enthusiasts, but "centralization" is just as well on the basis of uniformisation of protocol than on centralization in hierarchical structures.   The word is "diversify".   Cryptocurrencies should be diversified.  New altcoins should continuously be created and used, and total market cap should be spread over many of them, continously changing.  If bitcoin becomes the crypto monopolist, then that's a single point of failure.

This buthurts the hodlers, who want to obtain maximum "seigniorage" for minimum investment for nothing, but has nothing to do with the actual *use* of crypto.  What saves eco systems, economies, invester portfolio, and democracies is diversity.  Because diversity allows at least a fraction to escape calamity.  Uniformity is great, until the uniform system is victim of a calamity (such as a government takeover).  Distributed systems are diversified.  Monopolies are their enemy.  Crypto is no different.

If china tried some move in order to take control over bitcoin you can be sure other governments of the world will do anything in their power to try yo outcompete them, or just try to crash bitcoin price with a political ban or something.

[eternalgloom]

Some of the dangers of cryptocurrencies is that many are run by scam devs and sites, not the cryptocurrencies itself.
Cryptocurrencies is decentralized and no one has control of it. Government can't take control over it because they have no base regulations for it.
IMO, people should start to believe and use cryptocurrencies because cryptocurrencies have so much potential as digital currency in future.

That is a FACT. Those cryptocurrencies that is run by scammers. They only want you bitcoin or money and after launching,several months after they are nowhere to be found.

The scam coins are pretty easy to spot usually, but you also have a few well built scam coins, can't really think of any at the moment, but a few years ago it was pretty common to see it here on the forum.

Just don't visit the altcoin boards too much anymore now and stick with the proven coins and mostly Bitcoin.

[Victorycoin]

One of the main attractions of bitcoin and the cryptocurrencies in general is in the fact that, government regulation and clearance tables are by-passed, so in the event that government imposes itself on bitcoin, which is most unlikely, then bitcoin would no longer be bitcoin and the interest would most likely water down.  

[White Christmas]

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.

There is nothing to worry about sir. Bitcoin will not rise that much. Using bitcoin in all aspects is almost impossible to happen as many transactions do not need computer transactions. Even though the digital currency expand more, the value of paper money would not be worthless as what you say.

[uneng]

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.

There is nothing to worry about sir. Bitcoin will not rise that much. Using bitcoin in all aspects is almost impossible to happen as many transactions do not need computer transactions. Even though the digital currency expand more, the value of paper money would not be worthless as what you say.

Who knows? Maybe some day the btc price can beat that number.
It's a hard step to reach, but what OP says make some sense. If btc price increases a lot another currencies will lose their price and become worthless. But by this happen, countries will take some actions to don't crash the country economy.
I agree that paper money will become worthless in the future, when the virtual transactions take the control over the financial system.

[ashiqdey]

the main danger is its decentralized money and at any time government could put a ban on it. and currently i had just entered cryptocurrency world and if government put ban on it then I might have to forget about buying gadgets with bitcoin which i had planned since 5 months.

[whizter]

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

I only saw your thread now.  I agree with you.  To me, bitcoin was a great invention, but had some (understandable) design errors which resulted in its centralization in China.  China not being the country that protects at best individual rights, the Chinese government can take over bitcoin at any moment.  That said, almost any rich government can do so, by setting up huge mining farms somewhere in a hidden place (area 51 ? ).

This is why I think that the real future of crypto currencies is the continuous creation and use of altcoins.  I know that sounds strange to bitcoin enthusiasts, but "centralization" is just as well on the basis of uniformisation of protocol than on centralization in hierarchical structures.   The word is "diversify".   Cryptocurrencies should be diversified.  New altcoins should continuously be created and used, and total market cap should be spread over many of them, continously changing.  If bitcoin becomes the crypto monopolist, then that's a single point of failure.

This buthurts the hodlers, who want to obtain maximum "seigniorage" for minimum investment for nothing, but has nothing to do with the actual *use* of crypto.  What saves eco systems, economies, invester portfolio, and democracies is diversity.  Because diversity allows at least a fraction to escape calamity.  Uniformity is great, until the uniform system is victim of a calamity (such as a government takeover).  Distributed systems are diversified.  Monopolies are their enemy.  Crypto is no different.

If china tried some move in order to take control over bitcoin you can be sure other governments of the world will do anything in their power to try yo outcompete them, or just try to crash bitcoin price with a political ban or something.

although it is a fact that china is one of the big supporter of bitcoin but they are not going to control it, or to have influence on bitcoin, as bitcoin is a universal currency and it cannot come under control of any country or state so easily.

[coinsocieties]

I am sorry but if the american government got behind bitcoin in the form of CIA or FBI support, I would ditch and run, for there is no trust with them anymore.  There are so many issues with trust in those agencies and no one has half of an idea.  Look at the local television shows with these organizations in them, obviously faked shows, like Quantico, Burn Notice, etc.  You think that this stuff was just thought up from nowhere?  There has to be some form of some sort of truth behind it.  So no I would not get behind bitcoin any longer if they started to play with it.

[South Park]

One of the main attractions of bitcoin and the cryptocurrencies in general is in the fact that, government regulation and clearance tables are by-passed, so in the event that government imposes itself on bitcoin, which is most unlikely, then bitcoin would no longer be bitcoin and the interest would most likely water down.  

Bitcoin is still subject of any laws imposed by any government of the world, what bitcoin allows us is to have complete control over our own money since no government backs bitcoin or has control over the bitcoin network.

[arcanaaerobics]

One of the main attractions of bitcoin and the cryptocurrencies in general is in the fact that, government regulation and clearance tables are by-passed, so in the event that government imposes itself on bitcoin, which is most unlikely, then bitcoin would no longer be bitcoin and the interest would most likely water down.  

Bitcoin is still subject of any laws imposed by any government of the world, what bitcoin allows us is to have complete control over our own money since no government backs bitcoin or has control over the bitcoin network.

They can't freeze your account or something like that however if they discovery that if you are doing something illegal the government can fine you, arrest you and things like that so we will be never free of the government.

[anasis]

One of the main attractions of bitcoin and the cryptocurrencies in general is in the fact that, government regulation and clearance tables are by-passed, so in the event that government imposes itself on bitcoin, which is most unlikely, then bitcoin would no longer be bitcoin and the interest would most likely water down. 

Bitcoin is still subject of any laws imposed by any government of the world, what bitcoin allows us is to have complete control over our own money since no government backs bitcoin or has control over the bitcoin network.

They can't freeze your account or something like that however if they discovery that if you are doing something illegal the government can fine you, arrest you and things like that so we will be never free of the government.

It is bitcoin has no control over any state, although I think China has an impact on cryptocurrency, but this fact does not change. But if it is legalized, then be sure to start problems including taxes.

[SvenBomvolen]

   This topic just created many conspiracy theories, except that this thread is full with useless comments from people who didnt even read more then headline. Danger or not people will use bitcoins as long as they have some benefits from that. People do many dangerous things for profit and there is no point to talk about who created it, with what purpose, that doesnt mean nothing. If people make profit they will use it, secretly or not, illegal or legal, doesnt matter, as long you can earn money for yourself and your close ones.