HG_Lincs
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Activity: 28
Merit: 0
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January 14, 2018, 05:15:20 AM |
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Biggest fear I have about Crypto Currency, is actually already becoming a reality.
I think monstrous corporate Mining Farms.
They are increasing the difficulty, cutting out all of the smaller miners, with say a mining rig or two, or just use their gaming computer or their laptop to mine coins.
The smaller miners, that say just use their personal computer are now not going to mine anymore because "It isn't profitable"
Well, whats going to happen when there are only like 4 companies, with massive Mining farms doing all the mining for crypto?
Well, it's not going to be as Decentralized anymore.
One of those 4 companies goes under, or govt regulation kicks in and disrupts operations, well the security and fluency of the whole network will be cut down by 1/4.
Having 3+Billion Small Crypto miners is way more beneficial to the system, than having only a handful of companies doing all the mining and Hashing.
WE NEED HASHGRAPH AND WE NEED IT NOW!
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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datodota002
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January 14, 2018, 05:34:27 AM |
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my greatest fears as a bitcoin holder is when hold 3 BTC and i going to vacation and put my self out of internet world, then suddenly the goverment on my country banned bitcoin and i don't now what is going on, and when i back from vacation i already know i cannot cash out my money from exchanger because the exchanger is shut down by the goverment.
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arseaboy
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January 14, 2018, 05:37:35 AM |
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my greatest fears as a bitcoin holder is when hold 3 BTC and i going to vacation and put my self out of internet world, then suddenly the goverment on my country banned bitcoin and i don't now what is going on, and when i back from vacation i already know i cannot cash out my money from exchanger because the exchanger is shut down by the goverment.
I think if we will just think wisely that fear should not be entertained, as we knew that bitcoin will be supported by other countries still, and you can continue to exchange it and convert it into a dollar then send it to your account either PayPal or other means, that particular issue will be resolved using resources online. |
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Freezingel
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January 14, 2018, 05:40:56 AM |
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My greatest fear is the government, especially my country government if they decide to ban bitcoin and crypto trading then it will be harder for me to cash out my crypto. I know there's a lot of way to cash out your crypto but local exchange is definitely the easiest out of them all. I'm not afraid of losing my bitcoin because I store it safely in hardware wallet.
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fishball
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Activity: 336
Merit: 10
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January 14, 2018, 05:41:25 AM |
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"Hacking and scams remain the top risk for Bitcoin holders. Exchanges that shut down or passwords stolen from devices can easily wipe out a person’s bitcoins. Moreover, governments and central banks from various countries are starting to impose limitations on the use of cryptocurrencies.
Digital coins clearly threaten the political and economic establishment, and the regulatory environment can quickly change with the stroke of a legislative pen. Banks and governments typically use familiar language in the media, such as the need to protect consumers from new risks.
We are hearing familiar talking points from politicians who are getting pressured from the banking lobby. It seems that the root cause of the status quo’s actions in 2017 is to protect fiat currencies and traditional financial interests. Competing digital coins represent a potential end to the government’s monopoly of the monetary system." - Bitcoin.com
What are the top risks for Bitcoin holders?
It would be DISBANDING bitcoin grrrr... |
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xiaowu55
Newbie
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Activity: 84
Merit: 0
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January 14, 2018, 05:43:28 AM |
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The worry is that bitcoin is gone, and there is no such thing as the fact that the people who own bitcoin are going to suffer huge losses, which is a very scary thing.
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HG_Lincs
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Activity: 28
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January 14, 2018, 05:49:54 AM |
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The worry is that bitcoin is gone, and there is no such thing as the fact that the people who own bitcoin are going to suffer huge losses, which is a very scary thing.
The ONLY people who will suffer if bitcoin is disabled, are the idiots who spent more than they could afford to lose. EVERYONE bloody tells you. Don't invest more than you can lose. Why would anyone suffer from bitcoin taking a huge plunge? You all used proper risk management..... right?  ....... If you didn't. I really hope bitcoin Hits $1 and stays there forever. Sorry... |
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jomarthegreat89
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Activity: 83
Merit: 0
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January 14, 2018, 05:52:42 AM |
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My greatest fear is that the Bitcoin blockchain will be successfully attacked and the value of Bitcoin will come crashing back down.
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Jembut Ireng
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January 14, 2018, 07:38:19 AM |
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My greatest fears as a bitcoin holder is the bitcoin I store on the stolen web wallet of people so they drain all the balance in bitcoin, but to prevent this I try to save bitcoin in vault and to inflate all 2FA features.
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fanita
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January 14, 2018, 07:45:54 AM |
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I have my biggest fear as a bitcoin holder is when the price again downs and downs, we should not get carried away with the rise in bitcoin prices because there will be price setbacks, price corrections that make decline or maybe make dumping holders always decrease its price, I am not pessimistic like that . Moreover, bitcoins are vulnerable to hackers and this is also a weakness in holding back the bitcoin you have.
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wajdi
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January 14, 2018, 07:49:20 AM |
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Crypto crushing is the biggest fear
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El Tumar
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January 14, 2018, 07:56:01 AM |
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me don't have many fears in bitcoin for i belive in this coin very much. government can't ban bitcoin because too many money already spent in bitcoin and in crypto market.
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sclmte
Member
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Activity: 434
Merit: 10
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January 14, 2018, 08:31:21 AM |
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My biggest fear is losing my private key..
My greatest fear as a bitcoin holder is that, If my private key will be hacked and stolen and leave behind my wallet empty. And also if bitcoin will crashed and all its data will be corrupted. But I am confident that it will never gonna happen. |
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kabelpeggek
Jr. Member
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Activity: 173
Merit: 1
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January 14, 2018, 08:38:47 AM |
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the only one that scares me about bitcoin is
that's a ban from the government, I'm afraid that the bitcoin will be banned from my country, how much more do I have to make money, if my hacker problem does not think about it at all, we just need to save the private key correctly and do not click a link that does not clear source
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CoinChili
Member
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Activity: 239
Merit: 15
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January 14, 2018, 08:43:33 AM |
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Price Dips to hell and not recovered
Wallet Hacks, wallet destroyed
Transaction confirmation waiting forever
Bitcoin banned in my locations, government bans
Users abandonment
these are the main fears that I have in mind.
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zemb
Member
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Activity: 168
Merit: 11
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January 14, 2018, 08:47:35 AM |
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Greatest fears about holding bitcoin are getting hacked. I don't really worry that much about this because I know how to make my wallet secure but you are still going to live by the fact that you might still be hacked at some point for some reasons. You are never safe.
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eleonor
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Activity: 38
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January 14, 2018, 08:48:05 AM |
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My greatest fear is for bitcoin to dump lower that 5000$ or worst case scenario lose value I've been working for bitcoin quite a long time already and all profits and earning I get are stored in my btc wallet. My husband knows about my investment and somteimes telling me to withdraw those funds because it might dump hard everytime but I always insist that bitcoin will pump more as time goes. I guessed he will bother me everytime doing wrong decision if I lose so much due to btc where my money stored.
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Naficopa
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January 14, 2018, 08:55:28 AM |
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The biggest fear for me is probably the loss of value and people's confidence in bitcoins. Then will need to do everything from the beginning and it takes a very long time. Recovering people's trust is very difficult.
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currencydesigner
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Activity: 84
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January 14, 2018, 09:00:01 AM |
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My greatest fear that I encountered since I started to hold bitcoin is the low rate or the negative fluctuation of bitcoin value because in this past months of 2017 I encountered the shocking dropped of its value, when China banned bitcoin in there country I taught in that time that I will loss my money because of that event, but later on bitcoin stay again to fluctuate normally, and it give me hope again to hold my bitcoin longer until it reach my satisfaction price which is 30,000 USD. Bitcoin is one of the most stronger in this time and I think many banks will try to destroy it, there are many scenario that it might happen on bitcoin and I'm very excited to find it out.
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Bonakid
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January 14, 2018, 09:03:00 AM |
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My biggest fear as a bitcoin holder is when the price goes down or crashed ,I cannot control my emotions to depressed when it goes down.And I also have a fear to hackers and scammers who wants to get my money from wallet without even knowing.But I am hoping that it will never happen I know that bitcoin has a security to those hackers.
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