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The_Dark_Knight
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December 04, 2017, 07:32:47 PM |
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Over-promising or unrealistic projects. I see some coins and tokens that I don't believe are outright scams but will not live up to expectations in the medium to long term. Some have contradictions that mean they cant both be an investment (coin goes up) and a viable platform (because costs would become high). Others are offering a cryptocoin/token for a scenario that doesn't need it.
At the near scammy end are projects that may have genuine intentions but the coin ICO is essentially just an unregulated way to raise funds for their tech projects. I note some ICO are keeping a lot of the issue for themselves and the spending allocation is heavy on marketing. Just like a certain frenzy near 20 years ago... enjoy the ride we know where a lot of them will end, hopefully you pick an Amazon and not a Boo.com
This bothers me as well, many projects lack any substance or innovation, they are just copies of something else, that is why it can be difficult to see the real projects that offer something new, you must literally go thorough tons of useless information to find something that could become a success and that is why investment in icos is going down since people are tired of wasting their time. |
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DRAWDE_3691
Full Member
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Activity: 168
Merit: 100
Decentralized Escrow currency for Crypto world
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December 05, 2017, 05:31:57 AM |
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Bitcoin.
I don't like the fact that you have to buy BTC in order to buy some coins.
This must change.
Me too, I am always worried everytime these has to be done. It is very risky to scammers and fraud. Many are taking this chances to create something bad to make some amount for their own good. |
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maxj57634
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December 05, 2017, 05:49:46 AM |
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My biggest concern is that someday the government might shutdown our local exchangers here just like what china did to it.
Shutting it down would mean that we will have a hard time to withdraw our bitcoin locally and we might use another 3rd party which might cost more.
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burnedbyfees
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December 05, 2017, 05:50:43 AM |
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Bitcoin forks, market manipulation.
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pinoyden
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December 05, 2017, 06:22:00 AM |
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My biggest concern with cryptocurrencies? Burning coins for no reason. For example you are trying to create transaction, you just write something wrong? Your money is gone. This is very painful for me.
lol, same here. it also happened to me one time when im still just a noob on using a bitcoin wallet. i actually copy the php address instead of btc address because our local wallet (coins.ph) supports two currencies inside a single bitcoin wallet. that was the first time also i joined and get paid on a signature campaign but i was unfortunate and really unlucky for my bitcoins to get burned out of nowhere. that is why my biggest concern regarding crypto is it is not refundable or cant be chargeback just like on the paypal. though having this feature can also bring a bad effect to crypto due to some people will find it a good idea to scam inoscent people when doing transactions online. |
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EvaGC (OP)
Member
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Activity: 476
Merit: 11
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December 05, 2017, 11:22:19 AM |
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Great answers all of you.
Like everything new, we're filled with hopes and fears.
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glowing10
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December 05, 2017, 02:58:09 PM |
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One of the cryptocurrency concerns in digital currencies is the lack of legal support with the multitude of digital currencies without sufficient information about their owners
Couple of the major problems which I feel at present is : - - Legal standing in our country is still unclear. It can either get regulated or banned in coming time. But not sure how much time it will be taking. - Another thing is that the price has reaching near 12k. Fear is that if something negative news spread than the fall would be immense and time to recover just in such cases may be very long. |
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sweerty1
Sr. Member
Offline
Activity: 453
Merit: 251
Presale Starting May 1st
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December 05, 2017, 03:03:34 PM |
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Biggest concern in the world is probably legality. Crypto is legal in some countries but its not legal in some others. When you are travelling you will find it very weird as you can be arrested for no reason.
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Lord casanova
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December 05, 2017, 05:54:04 PM |
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I don't think so that Governments can stop the cryptocurrency my biggest concern is the liquidity of the market of cryptocurrency and think so that this is a bullish market where whales can make significant profits and they can control the market easily
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burnedbyfees
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December 08, 2017, 09:43:07 AM |
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Pumps are a big annoyance. But BTC pumping too fast is the only one that actually makes me worry. A big BTC pump and dump could set us back months, no, years while everything is tied to BTC.
The market really needs to stop doing so much trading in BTC, need to spread the risk more. We need more pairs on exchanges, and more entry points.
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zorranco
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December 08, 2017, 09:51:46 AM |
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Pumps are a big annoyance. But BTC pumping too fast is the only one that actually makes me worry. A big BTC pump and dump could set us back months, no, years while everything is tied to BTC.
The market really needs to stop doing so much trading in BTC, need to spread the risk more. We need more pairs on exchanges, and more entry points.
Agree 200% THe BTC progression is what worries me the most. When even your grandma is buying BTC, that's when you have to start to worry. Until 2017, the grow was perfect and organic, enough to make good profit. Now the bubble is in danger to explode. |
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leea-1334
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December 08, 2017, 09:56:36 AM |
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Fraud and scammers are a very general concern in any industry, any tech, especially over the Internet. Relevant to crypto yes, but not unique to crypto. Governments taking over also is relevant but not a real concern, to me. It is impossible for governments to take over Crypto, even if they tried very hard.
So of all the concerns listed, scalability and governance are always going to be concerns, but rightfully and naturally so. If you do not have scaling problems, then your coin is not successful. Nice problem to have is it no?
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shoreno
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December 08, 2017, 10:07:22 AM |
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Pumps are a big annoyance. But BTC pumping too fast is the only one that actually makes me worry. A big BTC pump and dump could set us back months, no, years while everything is tied to BTC.
The market really needs to stop doing so much trading in BTC, need to spread the risk more. We need more pairs on exchanges, and more entry points.
Agree 200% THe BTC progression is what worries me the most. When even your grandma is buying BTC, that's when you have to start to worry. Until 2017, the grow was perfect and organic, enough to make good profit. Now the bubble is in danger to explode. theres nothing wrong with these pump and dump scheme because cryptocurrencies meant that way. people will always do trade them because they want more profit and you cant really do about it. you should better stick to it because that is part of the game. anyways the biggest concern for me regarding in crypto is that the fee is too much high and expensive in bitcoin. it cost me much everytime i send a bitcoin to someone else and i think these is the real problem that everyone should worry about though i know that there were some better alternatives to bitcoin which doesnt cost much fee when sending like dogecoin and litecoin but im not really interested too them since start. im only a bitcoin enthusiast ever since the day i discovered bitcoin. |
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burnedbyfees
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December 08, 2017, 10:08:28 AM |
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Pumps are a big annoyance. But BTC pumping too fast is the only one that actually makes me worry. A big BTC pump and dump could set us back months, no, years while everything is tied to BTC.
The market really needs to stop doing so much trading in BTC, need to spread the risk more. We need more pairs on exchanges, and more entry points.
Agree 200% THe BTC progression is what worries me the most. When even your grandma is buying BTC, that's when you have to start to worry. Until 2017, the grow was perfect and organic, enough to make good profit. Now the bubble is in danger to explode. I started a thread on this very subject and got a very interesting response from a book written 80 years ago "I'd like to present the works on major bull trends by H.M Gartley who wrote Profits in the Stock Market (1935).
How to recognise a bull market ending.
1. The daily volume has risen to an all time high.
2. Wide daily fluctuations are a regular occurrence.
3. Nearly everyone you meet appears to be in some way interested in the market.
4. Most financial news writers and financial commentators can see no reasons for any important decline.
"The thought of a bear market being around the corner is not seriously considered".
"A bear who presents what appear to be sound and logical reasons why a collapse is imminent, is considered to be either an out-and-out dyspeptic, or at least a very unpatriotic citizen."
"He can count on being very unpopular".
"Each bull market breeds a crop of traders who fail to recognise the unmistakable signs of a storm."It seems very familiar, just replace "unpatriotic" with "FUD spreading", I hope btc cools off and goes back to steadily climbing. |
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The_Dark_Knight
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December 22, 2017, 02:43:39 AM |
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My biggest concern is that someday the government might shutdown our local exchangers here just like what china did to it.
Shutting it down would mean that we will have a hard time to withdraw our bitcoin locally and we might use another 3rd party which might cost more.
Do not worry, even if your local government did that we are getting to a point in which bitcoin is going to be accepted in more places, depending on where you live this is a process that is already underway or that may need more time, but I think that it may take 10 years before we are going to get to the point where all the countries of the world become like Japan. |
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kumara
Newbie
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Activity: 70
Merit: 0
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December 22, 2017, 07:42:26 AM |
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I want to write an article about this and I've been asking around.
So far, I've found:
* Fraud and scammers
* Government taking over
* Scalability and governance
How about you guys?
I think the problems within the Crypto space boil down to pure greed. Greed, especially on the part of poorly skilled developers, that do little more than repackage someone else's code and pass it off as innovation. Or the ICO built around little more than a furtive idea pumped by a celebrity. |
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BroganBloodstone
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December 22, 2017, 08:03:55 AM |
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Pumps are a big annoyance. But BTC pumping too fast is the only one that actually makes me worry. A big BTC pump and dump could set us back months, no, years while everything is tied to BTC.
The market really needs to stop doing so much trading in BTC, need to spread the risk more. We need more pairs on exchanges, and more entry points.
This is also what worries me. In the last month or two bitcoin and as a result altcoins have got a lot of attention. But if the correction end up being going from 20k to under 10k a lot of new guys with weak hands will get burnt and media will turn again setting this into a long bear cycle. We need definitely need a way to pair to other major currencies. Should not need to buy bitcoin to buy alts. |
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leea-1334
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December 22, 2017, 08:23:46 AM |
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My biggest concern is that someday the government might shutdown our local exchangers here just like what china did to it.
Shutting it down would mean that we will have a hard time to withdraw our bitcoin locally and we might use another 3rd party which might cost more.
Do not worry, even if your local government did that we are getting to a point in which bitcoin is going to be accepted in more places, depending on where you live this is a process that is already underway or that may need more time, but I think that it may take 10 years before we are going to get to the point where all the countries of the world become like Japan. Yeah, not to worry. For years the government here also tries to force local exchangers to shut down, but then now we all find that they have moved to Yahoo IM, or now Whatsapp and Telegram, just putting up advertisements on P2P boards to get contact. We are far behind Japan and US, but by the time we get to that stage, Bitcoin and crypto will be seen as mainstream and really, people in governments will not have a choice but to go with the flow. Governments will never give themselves a bad name with citizens so do not worry about losing your funds to them. |
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yunuzov
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December 22, 2017, 08:41:21 AM |
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With the big benefits comes the big concerns. The money flow in the crypto is too great and that takes attention of governments because they are too greedy and they don't want the idea of money flow without their control. Another thing is the trust issue. Most of the transactions are being made anonymously and that's a big concern for me sometimes but this is in the nature of this business so i learned to live with it.
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