The danger of the cyptocurrencies

[deisik]

Utopia and central governments for the whole world. Great, just greeeaaaat. I'm in for a fiat-less world but for a world with central government and authority responsible for "caring" for their people? Maybe in the next life, or how about no? I see cryptos as a tool for decentralization, but if it were to be used by the government just like fiat, then I'll just leave my idea and beliefs behind, then.

Could the government get decentralized too?

Or, rather, could the power get decentralized since government is all essentially about concentrating power in one (few) hands? On the flip side, Bitcoin was designed to be a decentralized currency, but we see that it is nevertheless getting heavily centralized over time (I refer to mining, before anything else). So, on a higher level of thinking, is true decentralization possible at all? Even gold ultimately ended up in a few hands with dust being spread over the planet

[Mastsetad]

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

I don't think that even if the worlds payment systems get digitalized but they would not use bitcoin for that as bitcoin is not something that can be controlled by them, but they will surely generate something that will be under their control and bitcoin will still remain as an alternative currency.

[richmcrich]

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

I also agree with you e-currencies are actually bringing less danger to the transactions and especially bitcoins because when we are using PayPal there is a risk of chargeback by scammers.
But with bitcoins that is removed so I completely disagree that the bitcoins are bringing any sort of risk in fact I think if all the transactions are done in bitcoins then there won't be any issues of taxes and scams.

[Harlot]

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

I also agree with you e-currencies are actually bringing less danger to the transactions and especially bitcoins because when we are using PayPal there is a risk of chargeback by scammers.
But with bitcoins that is removed so I completely disagree that the bitcoins are bringing any sort of risk in fact I think if all the transactions are done in bitcoins then there won't be any issues of taxes and scams.

I would not say cryptocurrencies give better transaction than Fiat. They are actually slower compared to money remittances, for me I actually wait for more than 30 minutes before I received fully my Bitcoin.  Also we can say Bitcoin is better because you won't spend anything to send money to who your sending it too. It is also portable but we can say it to Fiat too because we have now what is called cash cards and debit cards.

[Vaskiy]

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker

Yeah not that many with BTC but yeah prolly with others

I also agree with it that the price of a currency has a say on a coins existence. The price implies how many and how much people patronize and use that kind of coin. So if the price is low it will not be very attractive as it is very risky.  But time polished currency are more likely to survive and will attract more users.

That's true, if the was not high than the different national currencies, bitcoin would have not got such a big attention or acceptance as seen at the present. Many users hesitate to use it, because of its decentralization but they need to understand that nobly because of decentralization and growth speculation we've got such an increased price for bitcoin than most other digital currencies.

[Doamader]

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker

Yeah not that many with BTC but yeah prolly with others

I also agree with it that the price of a currency has a say on a coins existence. The price implies how many and how much people patronize and use that kind of coin. So if the price is low it will not be very attractive as it is very risky.  But time polished currency are more likely to survive and will attract more users.

That's true, if the was not high than the different national currencies, bitcoin would have not got such a big attention or acceptance as seen at the present. Many users hesitate to use it, because of its decentralization but they need to understand that nobly because of decentralization and growth speculation we've got such an increased price for bitcoin than most other digital currencies.

I do liked more bitcoin when it were worthing and being traded at 200-300 dollars, sure the halving and miners were happy as well, but the system of bitcoin it to grow over time. Several people made their own rig when bitcoin value were above 300 dollars, i dont know when the home farmers were profitable to mine on the last year, but some people had loose money at bitcoin, the bubble made some people panic and loose their savings.

[socks435]

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

I also agree with you e-currencies are actually bringing less danger to the transactions and especially bitcoins because when we are using PayPal there is a risk of chargeback by scammers.
But with bitcoins that is removed so I completely disagree that the bitcoins are bringing any sort of risk in fact I think if all the transactions are done in bitcoins then there won't be any issues of taxes and scams.

I would not say cryptocurrencies give better transaction than Fiat. They are actually slower compared to money remittances, for me I actually wait for more than 30 minutes before I received fully my Bitcoin.  Also we can say Bitcoin is better because you won't spend anything to send money to who your sending it too. It is also portable but we can say it to Fiat too because we have now what is called cash cards and debit cards.

What do you mean you are not spending anything i think you are still paying in  the fee for transaction the same as other payment processor online.. remitances it takes days before you can receive money they are different with bitcoin if we compare here in my country we can withdraw our bitcoin instanly the only thing that i seen a problem about bitcoin the network is asking more fee right now because i experience of cautions in one of my transaction few days ago in electrum that i payed low fee even i pay next to max fee in electrum there is manul selection max mi and low i paid only nearly mid and max.. that actually works before as fast transaction but now i experience this if we have 1mb above transaction it can take long time to confirm unless if you are paying the exact amount that you can relay here https://bitcoinfees.21.co/

[bitbunnny]

Cryptocurrencies could only represent danger to banks and governments. In fact they are not the real danger but some banks and governments see them this way. But for everyone else they are not the danger but the chance for different financial system, independent and free.

[fachant]

Cryptocurrencies could only represent danger to banks and governments. In fact they are not the real danger but some banks and governments see them this way. But for everyone else they are not the danger but the chance for different financial system, independent and free.

I think the same thing! Cryptocurrencies are a threat to the banking system, which has created a huge bubble. They can't longer find more ways to fraud and are afraid that cryptocurrencies will beats this bubble. Sooner or later it will happen, and then finally we will be able to live normally.

[rickadone]

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

To me noting is impossible in this world, so it can also be possible that a time will come when all the people will use bitcoin for completing their need and bitcoin will then also provide every facility to them therefore I think then people will not feel the need to use fiat and its importance will be decreasing from time to time and finally will become last forever.

[Mark02]

the danger of cryptocurrencies is I think the price itself because it is very volatile and yeah be carefull of hacker

Yeah not that many with BTC but yeah prolly with others

I also agree with it that the price of a currency has a say on a coins existence. The price implies how many and how much people patronize and use that kind of coin. So if the price is low it will not be very attractive as it is very risky.  But time polished currency are more likely to survive and will attract more users.

Yeah, those two are the main danger of Crypto-currency. I will add the scammed transactions cannot be bring back once it is in the blockchain already.

Prone to Hacking. We all know the many of or almost of us are using internet everyday. Not all of that users has a good intention. Some uses it to steal from others, and hackers are the very scary of them all. They are very much knowledged about cyberworld and can penetrate securities to steal from it, or to ruin something.

Price. Since bitcoins price is going upwards. Sure many are attracted to invest in bitcoin since they are assuring they can gain profit from the fluctuation. But imagine the price of it drops to $ 400 ?? Do you think it will be successful? Well for me not. Especially to those who invested to buy BTC at a $700 rate. Soon it will be a dead coin if that happens. Again if that happens

[deisik]

Price. Since bitcoins price is going upwards. Sure many are attracted to invest in bitcoin since they are assuring they can gain profit from the fluctuation. But imagine the price of it drops to $ 400 ?? Do you think it will be successful? Well for me not. Especially to those who invested to buy BTC at a $700 rate. Soon it will be a dead coin if that happens. Again if that happens

There is no reason to think so

If the price goes down to $400 (which is quite possible, by the way), it will be back to where it was just about a year ago. You claim that Bitcoin will be soon dead after that, while Bitcoin didn't die when its price collapsed 6 times from around $1,200 down to $200 in 2014, and nothing had happened. But right now it should necessarily die, when it's got stronger and has more ground under its feet?

[Rinder]

Bitcoin wont go anywhere as long we the community keep trading and doing business with it. Hackers are able to acess any governement place and edit or steal any fiat from banks, this woulndt be the first time those happen, bitcoin till today hasnt been hacked, the huge security around bitcoin make it safe. Even if the price drops something i doubt can get back lower the 500 dollars, it would be just bitcoin cheap, knowing its potencial.

[deisik]

Bitcoin wont go anywhere as long we the community keep trading and doing business with it. Hackers are able to acess any governement place and edit or steal any fiat from banks, this woulndt be the first time those happen, bitcoin till today hasnt been hacked, the huge security around bitcoin make it safe. Even if the price drops something i doubt can get back lower the 500 dollars, it would be just bitcoin cheap, knowing its potencial.

You seem to be confusing something

Or quite a few different things, in fact. Stealing money from someone's bank account is very much alike stealing bitcoins from someone else's wallet. If you mean hacking a Central bank servers and adding a few billion dollars to circulation, you are pipe dreaming. To do that you would have to get physical access to these servers and know how the system is organized and operated internally. In any case, all your actions will be reverted as soon as they are discovered

[g2com]

I heard that the US government is using a special radioactive dye on the $100 notes. So if lots of them stack together satellite can easily spot where they are located. Besides that, all banknotes are numbered so your activity is always under surveillance. For Bitcoin you can at least hide behind tor, or just use altcoins. Government might even put nano robots inside paper money to exert control on you

[jonahmarieaton101]

Yes one of our more profitable trades this year was in the cryptocurrency Bitcoin but the impractical side of the disruption mentality is a problem. But why should the cryptocurrencies are in danger? Is their any reason to be in danger? Then if that so? Is there solutions or ways to prevent such things?

[Mastsetad]

Hacking and forgetting passwords are the de-merits of online currency

Though hacking can be an headache sometimes when you get into this but i don't see forgetting password as a demerit really because i feel that is our own fault if we forget the password without having a back up for that, we should always keep our passwords somewhere in order to get them back when we may forget them.

[alexsandria]

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.

We should not worry. Ofcourse it won't happen. The real money and gold value won't get ruined because cryopto currency.

Also, government and citizens won't let that happen.
Cryptocurrencies are used to profit and used for transactions. Not for everyday's mode of payments.

[deisik]

I heard that the US government is using a special radioactive dye on the $100 notes. So if lots of them stack together satellite can easily spot where they are located. Besides that, all banknotes are numbered so your activity is always under surveillance. For Bitcoin you can at least hide behind tor, or just use altcoins

Such banknotes would kill you pretty quick if they are to be spotted by reconnaissance satellites. In fact, they should be miniature Chernobyls themselves. On the other hand, a lot of people have Geiger counters, and that would quickly have become known if your words had even a smallest grain of truth in them...

In short, think better next time

Government might even put nano robots inside paper money to exert control on you

They seem to have been right after all about cancelling the BrainDead

[TheGreatPython]

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 

Yes there is a little risk investing in bitcoin but that being said that people are making good profits just by investing in the price of Bitcoins when the price is low and selling them when the price is high I am personally doing this for an year now and I can easily say that this business is very profitable if done professionally.