The danger of the cyptocurrencies

[outatime1]

We don't know for sure who is behind the creation of Bitcoin but I doubt it is anything other than a person or group of people that just wanted some independence from banks and governments in terms of saving and spending money.

[bamboylee]

I will not worry about this too much. This can happen but I doubt it will happen in my lifetime. Fiat has been here for a very long time and I doubt it will be phased out without a fight. And if it does happen, I think the computers will be too advanced to worry about anything.

[BitcoinPC]

We don't know for sure who is behind the creation of Bitcoin but I doubt it is anything other than a person or group of people that just wanted some independence from banks and governments in terms of saving and spending money.

Actually, we should see what is happening now, it doesn't matter what is going on and what has done in the past, I mean we should see in the present, and so far about bitcoin, so bitcoin has a good time and also many people are doing investment in it, and earn from it, So why we worried about the rumors, and believe it in the future, bitcoin live long life and achieve many success.   

[Snorek]

We do need machines, and computers does control them, how can you make an exam to know what is wrong with your body? Cryptocurrencies are bringing the best things to the world, returning to the people the power to choose and without any middle man between the transactions.

That is the final goal of every cryptocurrency. I am afraid that we are not there yet. Instead we are now in the earliest stage of adoption where cryptocurrency is still technical novelty.
It is used rather as complementary currency/asset/investment more than a full fledged monetary system. We still need bunch of satellite services to use bitcoin: exchanges, payment converters/processors.
We don't know if we will ever reach the point where cryptocurrency can be used in a way FIAT is used today.

[Invulner]

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.

Why would this scare you? I'd rather be dependent on computers that do not need to be trusted to run smoothly than on humans who have greed that falters then and makes them do runaway scams.

Bitcoin is decentralised so all you need to trust is the network. You don't need to trust satoshi to be working 24/7.

[Doms]

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

[cjmoles]

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion.  If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money.  It's safer than cash!  Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

[StarofBTC]

I think still remember the case of Bitfinex, which took place this summer. Nobody thought that the hack th stolen. Many users have lost their bitcoin, but a lot of the first sold in fear of falling prices. But nothing can be done. But the fact remains that the risk is always present.

There is always a chance that every whole system can go scam or get hacked as we have a live example of bitfinex, so if we want to promote bitcoin and gain the confident of the people such kind of problems must be solve on priority basis. Otherwise the image of bitcoin can be effect more.

[Caladonian]

We don't know for sure who is behind the creation of Bitcoin but I doubt it is anything other than a person or group of people that just wanted some independence from banks and governments in terms of saving and spending money.

the intention to make everything fair and not been regulated by the corrupt government for sure most of us here believes that bitcoin really making its way to be noticed the only thing is we just needed to help to keep the chain move forward and avoid being controlled  by numbers of groups and manipulate the value.

[deisik]

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion.  If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money.  It's safer than cash!  Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul altogether

[cjmoles]

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion.  If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money.  It's safer than cash!  Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile?  I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth.  If it makes me a "douche bag" to enjoy the privileges that bitcoin affords me, then so be it.  You can keep your government controlled money....bitcoin is a far more secure platform.

[Capradina]

If bitcoin or some other crypto currency becomes the default money in the future, that means it doesn't have to be compared to the dollar. And I am not sure about the government taking my money away just because it is something that's online or digital. In many ways, the government ain't that smart, they are only good in taxing us until we bleed. So, I am not really afraid if the time comes that every money you have is the crypto currency kind because surely security features would be upgraded tenfold if that becomes the case.

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion.  If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money.  It's safer than cash!  Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile?  I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth.  If it makes me a "douche bag" to enjoy the privileges that bitcoin affords me, then so be it.  You can keep your government controlled money....bitcoin is a far more secure platform.

Yeah, that is certainly true. Many people who sometimes don't see the other side of the bitcoin so what they say sometimes the less fit than what happened. So it is something that sometimes makes us saturated or tired to explain. But I'm sure if they know for sure what can be done in the bitcoin then they won't do or speak in a way that bad!!

[deisik]

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion.  If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money.  It's safer than cash!  Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile?

Strictly speaking, I didn't say that. But if you put it this way, then yes, it is almost certainly easier to confiscate money from your bank account, but with cash your mileage (i.e. government's) may vary. But you can rest assured that if they come to your door eventually, they will know how many bitcoins you have, whence you got them from and where you moved them to. Ross Ulbricht, otherwise known as Dread Pirate Roberts, be your guest mate...

And probably many others that we might not have been given an opportunity to hear about

I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth

What truth should I admit?

[agatha818]

hello sir! I have been investing bitcoin for years and im glad to say, im satisfied with having crypto money in my computer, there maybe some stealing happened before on bitcoin, like some hackers and stuff, but my  crypto money was protected and safe. carrying paper money in my pocket is a lot of responsibility to me.

[jak3]

cryptocurrencys are not so danger except they are not stable like bitcoin, are are bot even developed or mined in the huge rate like bitcoin. there security is lot more lower they can even become collapse or can reach zero peice but bitcoin can not

[cjmoles]

Plus, I don't see how the government could get a hold of a persons bitcoin unless they torture the person enough to get him to give up his cryptographically secured private key....I mean, that's more secure than cash in my opinion.  If it were cash, all they'd have to do is kick in the door and take it....but with bitcoin they'd have to pry the key from the resources of their victim's mind....A person could always run to another country, carrying his private key in his mind, wearing nothing but the clothes on his back, and still recover his money.  It's safer than cash!  Try boarding a plane with a few 100k in cash and see how far you'd get....and that will get even harder once the cash is finally fitted with RFID tags.

Things don't work the way you fantasize

The government agencies typically don't need to torture anyone. There are a lot of ways to make people reveal anything they might know (including their private keys). If they have families (and almost everyone has a family, I mean, at least, a dad and a mom), it is just a matter of making the lives of their dear ones somewhat less pleasant, and all private and public keys are surrendered in less than no time. If you really want to be the guy you portrayed in your post, you should be an absolute douche bag internally, with a heart of stone and no soul

So what you are saying is that it is easier for the government to confiscate a persons bitcoin stash than it is for them to confiscate his bank account or cash pile?

Strictly speaking, I didn't say that. But if you put it this way, then yes, it is almost certainly easier to confiscate money from your bank account, but with cash your mileage (i.e. government's) may vary. But you can rest assured that if they come to your door eventually, they will know how many bitcoins you have, whence you got them from and where you moved them to. Ross Ulbricht, otherwise known as Dread Pirate Roberts, be your guest mate...

And probably many others that we might not have been given an opportunity to hear about

I don't think that's true, nor do I believe that you have the integrity necessary to admit the truth

What truth should I admit?

It just seemed that you were taking the position that bitcoin was easier to confiscate by the government than fiat.  And that bitcoin was more readily susceptible to government control than our current systems.

By the way, they traced Ulbricht's bitcoin because he was sloppy with his security....they seized his laptop, got access to his addresses, and then traced the transactions on the public ledger back to Silk Road.  He willingly did things that compromised his identity first....It wasn't like he had to expose his identity due to KYC/AML regulations....He used his real name in the gmail address he used to communicate with operatives on public forums which is what triggered the confiscation of the laptop and lead to his bitcoin addresses being linked to the Silk Road transactions.  They didn't trace the bitcoin back to his identity....they traced his identity back to the bitcoin.  And, none of that would have happened if he wasn't first engaging in illegal activities that could be associated with his personal identity.

[serjent05]

hello sir! I have been investing bitcoin for years and im glad to say, im satisfied with having crypto money in my computer, there maybe some stealing happened before on bitcoin, like some hackers and stuff, but my  crypto money was protected and safe. carrying paper money in my pocket is a lot of responsibility to me.

Aside from that carrying paper money will get the attention of those thief and robbers once they have known you have a large sum in your pocket.  Aside from that  paper money is harder to  keep unnoticed especially if it s a large sum since it is too bulky, You can have them in your bank account but the problem is your money is now regulated by bank.

[BlackBaron]

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker
so sad it happen on me once all my bitcoin got stolen 

[Indrawan77]

It will be impossible to be able to remove fiat usage, crypto currencies help us to move to a better transaction, digital transaction will be future transaction where it is safer to do transaction without bringing cash and bitcoin has bring it to better level, which is anonymous transaction, so i am not agree crypto currencies bring danger

[Xenophoto]

hello sir! I have been investing bitcoin for years and im glad to say, im satisfied with having crypto money in my computer, there maybe some stealing happened before on bitcoin, like some hackers and stuff, but my  crypto money was protected and safe. carrying paper money in my pocket is a lot of responsibility to me.

Aside from that carrying paper money will get the attention of those thief and robbers once they have known you have a large sum in your pocket.  Aside from that  paper money is harder to  keep unnoticed especially if it s a large sum since it is too bulky, You can have them in your bank account but the problem is your money is now regulated by bank.

Bulky? Why? Do you carry one hundred pieces of one dollar if you want to carry one hundred dollars? No. I think that's the reason why there are bigger denominations with the exact same size. Do you carry one hundred pieces of 1 centavo so you can have 1 dollar? No. It's not bulky if you're going to carry higher denomination. Also, how would people know that you're carrying a lot of cash with you? It's hidden in your bag and wallet. Have they somehow developed the sixth sense that let's them see through opaque materials? It's only common sense to not bring a lot of cash when you're in public.

You can have them in your bank account but the problem is your money is now regulated by bank.

Your money is already regulated even when it was in fiat form. No difference if you put it in the bank.