The danger of the cyptocurrencies

[StarofBTC]

I think the biggest threat, cryptocurrency is able to remove legitimate money system i.e. fiat money. We all know that with the existence of the bitcoin then all terms of the deals we can do on its own so that financial services such as banks will be replaced.

Well, it can happen, I can agree with you. but not so fast. and there is also a chance that bitcoin dead on some point and than everything will become normal like before.
the biggest enemy of crypto currency are other cryptos... there are more than thousands crypto currency and all are working with the help of bitcoin.. and lots of bitcoins are blocked because of them.

[Fireblade]

I don't see bitcoin is the future money, or new money. I take it like another commodity like silver, gold, oil, etc.
Calling "bitcoin is the future money", or "bitcoin will replace fiat" is the ego of many groups that loving crypto currency too much.
Blockchain technology with the transparency and anonymous transactions, will never be acceptable to any country. Don't think too much with this crypto currency, just trade it, and make some money.

I think this is true no matter what happened, bitcoin will never replace any fiat or make the bank close, it just a currency that being created to make our transaction easier, and it can be used for global payment, so its a currency that can make our life easier and better

although bitcoin is created to be use as online currency people are also using it for investment and getting double benefit from it. although the use of bitcoin as online currency is increasing from day to day, because now about every big online stores are accepting bitcoin. while in some area bitcoin is also use for shopping in physical shops.

[dEjAvU97]

I think this is of concern from some people that their bitcoin will change the existing financial order. we must understand that the world is changing and the problem becomes complex and so we need a new system that could solve the problem.

[FasTroy]

I think there is no danger to use bitcoin. Which it is anonymously used. And here it is the beauty of bitcoin.
When your transaction is secure and untracked also there is no tax.
It's really an amazing currency. So the government can't control transactions.

[tabas]

I think this is of concern from some people that their bitcoin will change the existing financial order. we must understand that the world is changing and the problem becomes complex and so we need a new system that could solve the problem.

And that's going to bring the existing financial system in danger. That is making the crypto currencies dangerous but still it depends on the government if they are going to let crypto's eat their financial system. Innovation is always there but it depends on how it is going to be regulated and being used by us.

[lol3c]

I think there is no danger to use bitcoin. Which it is anonymously used. And here it is the beauty of bitcoin.
When your transaction is secure and untracked also there is no tax.
It's really an amazing currency. So the government can't control transactions.

Yeah I don't see any danger in using bitcoin as well as other cryptocurrencies. And bitcoin gives you profit if you know how to take advantage of it, so how would it be dangerous? Bitcoin may not replace fiat money as it's simply a currency which is valued based on fiat money. So this topic is making no sense to me.

[mrkevio]

I think this is of concern from some people that their bitcoin will change the existing financial order. we must understand that the world is changing and the problem becomes complex and so we need a new system that could solve the problem.

And that's going to bring the existing financial system in danger. That is making the crypto currencies dangerous but still it depends on the government if they are going to let crypto's eat their financial system. Innovation is always there but it depends on how it is going to be regulated and being used by us.

The governments know about the danger of cryptocurrencies, so if it happens then you have to know they got enough knowlege about them. But if it happens then it is their plan too, to create a single currency around the world.

[Pettuh4]

I think there is no danger to use bitcoin. Which it is anonymously used. And here it is the beauty of bitcoin.
When your transaction is secure and untracked also there is no tax.
It's really an amazing currency. So the government can't control transactions.

Yeah I don't see any danger in using bitcoin as well as other cryptocurrencies. And bitcoin gives you profit if you know how to take advantage of it, so how would it be dangerous? Bitcoin may not replace fiat money as it's simply a currency which is valued based on fiat money. So this topic is making no sense to me.

You're perfectly right but this topic is not making sense to you because a lot of people treat the Bitcoin cryptocurrency as a currency and not a commodity and are thus trapped into that believe that Bitcoin is dangerous.

[densuj]

I think the biggest threat, cryptocurrency is able to remove legitimate money system i.e. fiat money. We all know that with the existence of the bitcoin then all terms of the deals we can do on its own so that financial services such as banks will be replaced.

I think bitcoin will be replace banks, it will not happening at least for today
because user's bitcoin are still small amount and it is not the danger of cryptocurrencies
because the banks can adopt bitcoin or other digital coins.

[choppork]

I think there is no danger to use bitcoin. Which it is anonymously used. And here it is the beauty of bitcoin.
When your transaction is secure and untracked also there is no tax.
It's really an amazing currency. So the government can't control transactions.

Your transactions can surely be tracked. If somebody has a connection to the owner of the local wallet site that you're using or if he knows your bitcoin address, then you can surely be tracked. Even if you put your money in a mixer so you can confuse the tracker, what if the tracker has a connection to the bitcoin mixer that you used as well? Trust me, if the government wants to track you, they will. But normal bitcoin users would have a hard time tracking you when you put your money in a mixer, in a gambling site, in an altcoin exchanger site, etc. since they don't know your withdrawal address in those sites.

[Genesis1337]

I don't see bitcoin is the future money, or new money. I take it like another commodity like silver, gold, oil, etc.
Calling "bitcoin is the future money", or "bitcoin will replace fiat" is the ego of many groups that loving crypto currency too much.
Blockchain technology with the transparency and anonymous transactions, will never be acceptable to any country. Don't think too much with this crypto currency, just trade it, and make some money.

i think that if U.S. federal reserve causes hyperinflation, btc will absolutely be worth much more, as will many other commodities. it could potentially replace fiat, but that would be so far down the line, it's not worth speculating on right now. but yea, i guess bitcoin makes more sense to be a store of value instead of being used in everyday transactions since government will always be working so hard to get rid of it.

[ReLieD]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

[Fatanut]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

Shut down which one? Their network? AFAIK, they can't just "shut down" the crypto currency. Or at least that stands true for bitcoin. I'm not really sure what's the case about altcoins. Only way to shut down all of this cryptocurrencies is to shut down the whole Internet or world wide web which is quite where our economy depends a lot. Without the internet, it would be hard to buy products from other places. The economy would literally go back to what it was years ago since communication is the key for all long distance transactions.

I doubt that the government or any one that's using the Internet would just let that happen. So you can now breathe easy and let go of idea of cryptocurrencies shutting down. Although one thing you should know about or maybe be bothered about is the fact that if an altcoin dev leaves the scene, the coin usually dies shortly.

[virusasog]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

Because they wanna secure their economic status around the world. If they implemented bitcoin as a centralized money, there is nothing benefits for them. If rights belongs to some one else from the other country. Then they will pass the law break in international court. I think thats why satoshi hides his face from the world.

[deisik]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

Shut down which one? Their network? AFAIK, they can't just "shut down" the crypto currency. Or at least that stands true for bitcoin. I'm not really sure what's the case about altcoins. Only way to shut down all of this cryptocurrencies is to shut down the whole Internet or world wide web which is quite where our economy depends a lot. Without the internet, it would be hard to buy products from other places. The economy would literally go back to what it was years ago since communication is the key for all long distance transactions.

I doubt that the government or any one that's using the Internet would just let that happen. So you can now breathe easy and let go of idea of cryptocurrencies shutting down. Although one thing you should know about or maybe be bothered about is the fact that if an altcoin dev leaves the scene, the coin usually dies shortly

I guess most altcoins are open source projects, right?

So the main dev vanishing won't cause a premature death of the coin unless it is going to kick the bucket in any case. If the coin is usable, popular and otherwise beneficial to users, it will certainly survive its main developer disappearance. Didn't Satoshi disappear from the scene entirely? And what did it change? Did Bitcoin die (just because of its creator losing interest to his creation and going away)? In fact, this could be used as a sort of reality check, i.e. how long and how well a coin can fare without its creator sticking around. If it does well, then it is certainly a worthy coin. Otherwise, it is doomed anyway

[darklus123]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

The only thing that can shutdown a crytpo currency is when there is no one that uses it anymore because it is a peer to peer type of currency everyone owns and control their crypto currency

[Bitcoinsummoner]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

The only thing that can shutdown a crytpo currency is when there is no one that uses it anymore because it is a peer to peer type of currency everyone owns and control their crypto currency

I think the other crypto are shutdown due to made it just owner earn good money and live it without developing.. this is what happen to other altcoin but those who are living altcoin until now i it can be shutdown if their system or whole block chain system can be hack by someone.. and get all altcoins and sell them in to the market that can result of shutdown or holders are not let buy this altcoin again..

[darklus123]

There is only one major problem of crypto currencies,
They can shut down any time and still you can't claim you cash.
So that is a major problem.
Also the government won't prefer crypto currencies over the paper currency.
But there is more privacy in crypto currencies.
That's a plus point

The only thing that can shutdown a crytpo currency is when there is no one that uses it anymore because it is a peer to peer type of currency everyone owns and control their crypto currency

I think the other crypto are shutdown due to made it just owner earn good money and live it without developing.. this is what happen to other altcoin but those who are living altcoin until now i it can be shutdown if their system or whole block chain system can be hack by someone.. and get all altcoins and sell them in to the market that can result of shutdown or holders are not let buy this altcoin again..

Well yeah in most cases it really happens to altcoin that is why i never settle for now to any altcoins bitcoin is good as it is and shutting it down is not an option for now IMO. There is no point in using otther crypto unless you are trading

[mmo_online_1981]

When people are interested in it, you have all
When no one cares, you lose everything

[frendsento]

Well I get your point But I dont think it is most likely to happen ! Paper money will never be worth less it was created for a purpose so I think it will never be vanished ! Cryptocurrency will just be an alternative money (Just like paypal or online banking )meaning you have a choice to use it or not ! and what about those people who don't have a computer or internet how they will use or accept money given the fact that paper money is now worthless  , see ? the world will be in chaos if paper money will be worthless , sorry but I dont think this idea is really not feasible It is just a hypothetical scenario.