The danger of the cyptocurrencies

[Zaun]

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

You dont have to store your Bitcoins on a Computer.. you just need a Private-/Public Key Pair.
You could generate them with PC (or you could even "generate" it from hand)..
A Paper Wallet can't be "hacked".. Neither can a properly build Hardware wallet be hacked.

Remember that not all people are aware as to how to run BTC from an USB nor do they understand paper wallets.
This is what is making it confusing for other people and since most of them are 'lazy' they stick with the opinion that crypto in general are dangerous.

We all now how risky exchanges and online wallets are so there must come a more easy solution. A hardware wallet for just 20 bucks f.e.

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[lOvE mE forEvEr]

I think is not harmful, transaction bitcoin is still very limited and if there is no agreement the country anyone can not use bitcoin transactions official. I think we need not be complicated by the existence of negative news, let's focus introduced bitcoin to more people so as to make the position of the bitcoin getting stronger.

[Xester]

Im a little reluctant to state that its the people responsibility to keep security of "your own bank". Why im reluctant to agree with that? Because it gives the justifications to thiefs that if someone has allowed them to steal the bitcoins its allright because if he would not steal those bitcoins someone else would. Thats just not ok, but thats how it is in bitcoinworld.

I beg to differ but Bitcoin is safe, really safe from theives unless you get reckless and let them rob your bank. To your question; will you see a million dollar in a plastic bag (100$ bills) in your trash can tomorrow morning and leave it for someone else to come steal? The same applies here.

Safety concerns about Bitcoin are over-exaggerated. Exchanges do get hacked, but if you follow reasonably safe browsing practices, there should be no problems. Cold storage is also an option if you have large number of bitcoins.

Exchanges do get hacked. By themselves.  
If I am an exchange owner dont you think I will try to secure it to the deepest that I want it to be or should be? Look, if that exchange is hacked it is my lost too. It is just either they hacked themselves for just  greed reasons or they are already broke and will try to run now.

That is the biggest threat and danger to all cryptocurrencies, it is when the exchangers will decide to keep all the coins to himself. And after claiming all the coins he will declare being hacked. But this only happens to small time exchangers or to exchangers who are earning a small amount or in the brink of bankruptcy. I do hope this cases of hack attacks to exchangers will stop otherwise the bitcoin industry will start to decay.

[audaciousbeing]

The danger of cryto-currency to me, is what the users are using it for and its that reason that the dangers are being exploited by people who sees bitcoin as a threat to their business. However, this is not to say there are no dangers among which include the fact that its untraceable and this is something to be exploited by money launderers or hackers among others. Another is the issue no body to regulate the activities of users unlike other payment system that regulate and even handle disputes and correct bad behavior with punitive measures among others.

[bob123]

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

You dont have to store your Bitcoins on a Computer.. you just need a Private-/Public Key Pair.
You could generate them with PC (or you could even "generate" it from hand)..
A Paper Wallet can't be "hacked".. Neither can a properly build Hardware wallet be hacked.

Remember that not all people are aware as to how to run BTC from an USB nor do they understand paper wallets.
This is what is making it confusing for other people and since most of them are 'lazy' they stick with the opinion that crypto in general are dangerous.

We all now how risky exchanges and online wallets are so there must come a more easy solution. A hardware wallet for just 20 bucks f.e.

There are hardware wallets available for about 40 Bucks.
I think getting even cheaper will kinda be impossible if you still want to have secure algorithms and secured hardware.

[BitcoinPC]

I think is not harmful, transaction bitcoin is still very limited and if there is no agreement the country anyone can not use bitcoin transactions official. I think we need not be complicated by the existence of negative news, let's focus introduced bitcoin to more people so as to make the position of the bitcoin getting stronger.

You are right, because may be i am wrong, but it is first thread who said that fiat currency properly remove. In this time, it is useless talk if we think that world will be move without fiat. No chance fiat remove all over the world. I believe no one agree on it, also crypto will remain in this world, it is a part of new technology and both, fiat and crypto will give us comfort life. In my view, world couldn't build without fiat, and without crypto it is possible.

[deisik]

I am not sure if that's a good thing. Being dependent so much on computers just scares me.

You dont have to store your Bitcoins on a Computer.. you just need a Private-/Public Key Pair.
You could generate them with PC (or you could even "generate" it from hand)..
A Paper Wallet can't be "hacked".. Neither can a properly build Hardware wallet be hacked.

Remember that not all people are aware as to how to run BTC from an USB nor do they understand paper wallets.
This is what is making it confusing for other people and since most of them are 'lazy' they stick with the opinion that crypto in general are dangerous.

We all now how risky exchanges and online wallets are so there must come a more easy solution. A hardware wallet for just 20 bucks f.e.

There are hardware wallets available for about 40 Bucks.
I think getting even cheaper will kinda be impossible if you still want to have secure algorithms and secured hardware.

I don't quite understand why people are so obsessed with hardware wallets

As far as I understand it, you are basically trusting your coins to a third party. They (i.e. hardware wallet manufacturers) cannot indeed steal your coins (at least, as long as the wallet is not connected to Internet), but they may still cause you to suffer losses if this wallet breaks beyond repair. Saving your private key somewhere else undermines the whole concept of such wallets as I see it

[PacePay]

Dangers can be expected from anyone. Or from disadvantaged users who use bitcoin for illegal trades or from the state, which is searching for means of its citizens, and bitcoin does not allow to charge taxes.

The dangers and disadvatages are not much from the use of crypto currency but it have givern a lot of benefits to the people of the world and to this world. With that many people are not now jobless and living a happy life.

Yes, You need to see the brighter side of the Bitcoin. Of course, there are advantages and disadvantages of every new technology but Bitcoin has done more good than bad to the world. There are only some people who misuse it.

But if we see that we will find that bitcoin have many advantages and do not have much disadvantages and when someone know about the advantages of bitcoin then they do not search for the disadvantages and they do not find time for to give to illegal work but they only want to get their own benefit from bitcoin.

[chennan]

I don't quite understand why people are so obsessed with hardware wallets

As far as I understand it, you are basically trusting your coins to a third party. They (i.e. hardware wallet manufacturers) cannot indeed steal your coins (at least, as long as the wallet is not connected to Internet), but they may still cause you to suffer losses if this wallet breaks beyond repair. Saving your private key somewhere else undermines the whole concept of such wallets as I see it

I mean, if you think about it... you always have to "trust a third party" with cryptos in some way or the other.  For example, if you don't run your own node and use a client to connect to other nodes with your wallet, you are "trusting a third party".  Also, don't forget that we are all "trusting a third party" just by using the Bitcoin software (unless you are a dev and can understand what's going on and edit the code).

If you don't understand the ends and outs of everything that you are using, you are very well trusting someone that it won't be some scam.

[The_Dark_Knight]

If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.

I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous.

I have always said and now of the opinion that the Bitcoin is the currency of a certain number of users and large businesses. bitcoin is not convenient or inaccessible to ordinary people. Therefore, bitcoin has its place in the financial sector.

But if bitcoin is not convenient or accessible to people as you say then it has no future, so I disagree bitcoin has a place for the ordinary person but the problem is there are not enough commerces accepting bitcoin at the moment so you cannot spend it as freely as we may want.

[yakpimp]

My biggest concern is the hundreds of Alts that have an ICO and then disappear. And scams like Paycoin that take take take and then poof they are gone. I've been happy since switching only to trading BTC. It's the risk that makes it exciting though.

[romero121]

If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.

I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous.

I have always said and now of the opinion that the Bitcoin is the currency of a certain number of users and large businesses. bitcoin is not convenient or inaccessible to ordinary people. Therefore, bitcoin has its place in the financial sector.

But if bitcoin is not convenient or accessible to people as you say then it has no future, so I disagree bitcoin has a place for the ordinary person but the problem is there are not enough commerces accepting bitcoin at the moment so you cannot spend it as freely as we may want.

Right now bitcoin is accessible by a certain group of people who are at least have some knowledge in technology. This has to change that even a common men needs to use it easily even if he is not good in technology. This way can reach the entire population. So we too can experience increasing acceptance in e-commerce.

[Viscore]

My biggest concern is the hundreds of Alts that have an ICO and then disappear. And scams like Paycoin that take take take and then poof they are gone. I've been happy since switching only to trading BTC. It's the risk that makes it exciting though.

Everyone has a choice on where they are comfortable, there are plenty of scam ICO but you can spot that if you do prior research before investing your money. There are people who makes good money investing in ICO as they easily double their money investing in legitimate ICOs. I guess we have to be careful with investment, it is our money and that is precious to us, therefore, let us do what successful investors are doing.

[grandy]

If everything is calm and stable, there is nothing at all to worry about, and think bad about bitcoin. As the saying goes, we are more longer afford impose bad thoughts, and even then jam danger everywhere. Today, bitcoin stable and the price for it gradually rises.

I don't really get what you are saying though trusting cryptocurrency is really a must. The price may be? Or the user? The danger I see in bitcoin is the assurance of its price and the transactions that it makes everyday. Many people will be using bitcoin in the future so many business men will be using it as a investment and if that price will not be stable, it may ruin there investment, in terms of transactions, it may be fast yes, but they can be really anonymous.

I have always said and now of the opinion that the Bitcoin is the currency of a certain number of users and large businesses. bitcoin is not convenient or inaccessible to ordinary people. Therefore, bitcoin has its place in the financial sector.

But if bitcoin is not convenient or accessible to people as you say then it has no future, so I disagree bitcoin has a place for the ordinary person but the problem is there are not enough commerces accepting bitcoin at the moment so you cannot spend it as freely as we may want.

Right now bitcoin is accessible by a certain group of people who are at least have some knowledge in technology. This has to change that even a common men needs to use it easily even if he is not good in technology. This way can reach the entire population. So we too can experience increasing acceptance in e-commerce.

but at least you must have some knowledge about computer and internet. without knowing about internet and computer you cannot use bitcoin and cannot make profit from it. and i present time there are so many people who do not have computer knowledge and internet. so bitcoin will still take some time to become more popular.

[daringdiscovered]

The fact that cryptocurrency is made in a computer and used in the internet gives it a big a danger to itself. It is very prone to hackers. And no one can say how long can it last over the internet. Because cryptos are also money some people are still having doubt to invest and use it because it will be easy for someone to steal it. And the transaction made by crytos are anonymous.

[WhiteStar_]

beauty of crypto currencies is only of their privacy . if it would by the government then their is no option to use crypto currency . while we will use direct other online currency instead of these . because due to control under government of country there will be restrictions of saving and transfer .

I would agree into this thought.Cryptocurrency is not advance at fiat currency but just improved some features and added some that is what makes it special from fiat

[youdacapt]

The fact that cryptocurrency is made in a computer and used in the internet gives it a big a danger to itself. It is very prone to hackers. And no one can say how long can it last over the internet. Because cryptos are also money some people are still having doubt to invest and use it because it will be easy for someone to steal it. And the transaction made by crytos are anonymous.

It is indeed very dangerous for security of user data, but it doesn't make people to move in anticipation of attacks by hackers. There are many experts who are able to handle this case, for example is blockchain wallet. If everyone is worried all of their accounts in digital world, online businesses would never walk properly, including microsoft and apple.

The most dangerous fact is how much knowledge of the user understand how to secure bitcoin transactions. If they don't understand, hackers will be happy to take each of their accounts.

[PhilPrime]

If i see the reality than nothing is happened as you said, I am not saying you are wrong, that is your thread and i respect it and also your thinking. But in my opinion, I don't think that fiat currency will be die now and ever, Crypto currency can be ended, but fiat currency always remain in the world.

It is hard to removed anything that been so normally used by everyone. Having our own fiat marks ones country identity so it is quite impossible in making it as a real money , having it as our digital currency and support in our money already a plus factor of it. The fact that its transactions is secured.

[E-shipper]

If i see the reality than nothing is happened as you said, I am not saying you are wrong, that is your thread and i respect it and also your thinking. But in my opinion, I don't think that fiat currency will be die now and ever, Crypto currency can be ended, but fiat currency always remain in the world.

It is hard to removed anything that been so normally used by everyone. Having our own fiat marks ones country identity so it is quite impossible in making it as a real money , having it as our digital currency and support in our money already a plus factor of it. The fact that its transactions is secured.

Bitcoin will be and already has future prospects. And you just need to take only what is cryptocurrency only all digital currency, and we can say it's money only for a certain group of people.

[richardsNY]

The fact that cryptocurrency is made in a computer and used in the internet gives it a big a danger to itself. It is very prone to hackers. And no one can say how long can it last over the internet. Because cryptos are also money some people are still having doubt to invest and use it because it will be easy for someone to steal it. And the transaction made by crytos are anonymous.

If you make sure that you run everything from a clean PC and also properly secure all your wallet files, then there is not much to worry about. In order to up the security a notch, quite some people have bought themselves a hardware wallet. I personally bought myself a Trezor wallet, and I must say that it works perfectly fine. I solely use it for my cold wallet coins. For me personally not a big deal, but Trezor also supports certain altcoins. If you want top notch security, then buy one.