Threat to Crypto Currencies

[Tungsten-1]

Some countries are already doing it. They will start to own their national e-currency. However, some countries are think to ban Bitcoin.

Banning bitcoin wont help them at all, there are still a lot of ways that a person can get its hands into bitcoin even by blocking certain sites.
Even if they start their own e-currency i think the equivalent of that coin wont be to far from what their money is worth in the current market.

Many counties banned bitcoin and many are thinking to do so but I think a time will come when they will regret and will remove the ban from bitcoin because slowly and gradually bitcoin is becoming a need of people and countries because now world can run properly without bitcoin because all the online investments are done due to it.

[Coffee135]

Some countries are already doing it. They will start to own their national e-currency. However, some countries are think to ban Bitcoin.

Banning bitcoin wont help them at all, there are still a lot of ways that a person can get its hands into bitcoin even by blocking certain sites.
Even if they start their own e-currency i think the equivalent of that coin wont be to far from what their money is worth in the current market.

Many counties banned bitcoin and many are thinking to do so but I think a time will come when they will regret and will remove the ban from bitcoin because slowly and gradually bitcoin is becoming a need of people and countries because now world can run properly without bitcoin because all the online investments are done due to it.

This will never happen. You can see how various governments are now accusing bitcoin of all the troubles. Governments are not interested in that bitcoin existed. They are not interested in the needs of the people. They have all is now well. They only care about the fact that bitcoin allows people to escape from under the control of the government. They are afraid as fire.

[DaftAjax]

I think the best threat is the people who does not like the crypto currency and they are always against this currency the image of bitcoin is good in the market and sometimes th investors want to show the wrong image to the people then they spread wrong information because of this the users feel fear and they sell their coins so the investors buy them at low price.

Some of the governments can also be considered as a threat to Bitcoin in their own countries, cause there are some governments that are not in support of Bitcoin and will do whatever it takes to kick this cryptocurrency out of their country.

Individuals with no reputation shouldn’t be considered as much threats to Bitcoin, because none of their words would be taken seriously. But there are some whose words packs a heavy blow and can affect Bitcoin in any way.

How can you say that the government itself will be a threat to their own? Is such country would exist? I mean Bitcoin can be an external and an internal issue for a country. So its up to them whether they wanted to adapt this currency or ban it.

So public status is a 'thing' now? Whoever speaks even if it is the president of some country, words alone can't make a heavy blow to the cryptocurrencies. Even if the media trash talks about Bitcoin they can't do anything. It may be just propaganda to make naive people to believe them, but then again people now are aware of that, they will do their own research just to clarify if the governments or some people that have names in the public are true.

[Drixy]

I think we can all agree that cryptos are here to stay and only the form and applications are yet to be determined.

Has any one considered the threat to independent cryptos that a gov't or central bank issued crypto represents?
A crypto tethered to the US dollar could gain rapid widespread acceptance by banks and business entities making it possible to buy anything from a soda to a car in crypto. Debit card readers could quickly be converted. bank account balances could be held in dollars or cryptos etc.

While we might get the benefits of electronic payments that come with a digital currency, we would completely lose the protection from the manipulated value (or devaluation) of the dollar. That won't stop the banks from doing it. In fact it's an incentive for the banks to do it. Their tethered crypto could get widespread usage in a couple of years and make it very difficult for non tethered cryptos to gain acceptance.  Widespread business acceptance of a crypto will lead to widespread acceptance by the non technical general public that don't understand the difference.   

If that happens all we can do is nothing cause we cant manipulate too the value of USD our only job is to wait until it is big enough or wait for bitcoin to pump so hard. It doesnt matter if USD will be devalued all we can hope is bitcoin's pump towards that problem.

[kevpantof]

Threat in what ways ? I am guessing that the only concern here is the manipulation by government banks and other third parties that bitcoin concept avoids.
There is nothing we can do about it. If we are expecting for a worldwide use of bitcoin we might as well as agree to their terms. We are already in the process and we should be ready for taxes and higher fees though not felt but I am sure it will be in the system.
Or if we would be against it, it may be banned everywhere.

In our country, it is already having high fees, there is nothing much we can do but convert it to fiat. No stores accepting bitcoin here.

We cannot deny the importance of crypto currency but still in many countries it is not legal and still its trading is not going on worldwide. Crypto currency is a totally different system that’s why many people are afraid of investing money in crypto currency.

Many countries do not like the system of crypto currency it is because the sender name and receiver name is in secret that’s why they are against crypto currency.

[Rhaizan]

Some countries are already doing it. They will start to own their national e-currency. However, some countries are think to ban Bitcoin.

Banning bitcoin wont help them at all, there are still a lot of ways that a person can get its hands into bitcoin even by blocking certain sites.
Even if they start their own e-currency i think the equivalent of that coin wont be to far from what their money is worth in the current market.

Yeah if the person really want to have bitcoin they can have it as long as they want, even if its ban in their county we will have a way to have it.

[alisafidel58]

Some countries are already doing it. They will start to own their national e-currency. However, some countries are think to ban Bitcoin.

Banning bitcoin wont help them at all, there are still a lot of ways that a person can get its hands into bitcoin even by blocking certain sites.
Even if they start their own e-currency i think the equivalent of that coin wont be to far from what their money is worth in the current market.

Many counties banned bitcoin and many are thinking to do so but I think a time will come when they will regret and will remove the ban from bitcoin because slowly and gradually bitcoin is becoming a need of people and countries because now world can run properly without bitcoin because all the online investments are done due to it.

There will be regret for sure but that is going to be in the hands of the previous government who opposes bitcoin, actually its not a need of people, people want bitcoin because they can have easy access to their own money and do transaction or even trade at the expense of not going anywhere but only at home.

[faceoff97]

They are already doing it. Some governments have announced that they will issue their own cryptocurrency and many banks are behind some crypto. In that way, many alts can be threatened but Bitcoin is different because it has a limit of 21 million coins to be issued and because it is decentralized, so it has something to offer that the other cryptos can’t.

For me, governments and banks issuing cryptos is not as dangerous as most of the G20 group countries passing a hard ban on bitcoin.

With or without government intervention, cryptosystem will still go on. No one has the power to manipulate or have full control over its value. They might issue new crypto coins bur it will not affect the earlier established coins. The only way bitcoin will be put in danger once government convinced the majority to look at it with no worth. But that would be impossible at the moment, the other way arround is actually what happening, it still gain popularity and demand from the people.

[BartS]

They are already doing it. Some governments have announced that they will issue their own cryptocurrency and many banks are behind some crypto. In that way, many alts can be threatened but Bitcoin is different because it has a limit of 21 million coins to be issued and because it is decentralized, so it has something to offer that the other cryptos can’t.

For me, governments and banks issuing cryptos is not as dangerous as most of the G20 group countries passing a hard ban on bitcoin.

The Google, Facebook, and Amazon are more dangerous than the government if they decided to implement their own cryptocurrencies. These big companies are trusted by consumers all around world, they have the money and power to make a coin of their own and dominate the market. These companies are influential enough to turn the tides, I just don't know when, or rather it already started like what tether is about now.

If they could create their own currency why they have not done so? And the answer is very simple because if they did, their CEO will be prosecuted for minting currency, the reason bitcoin cannot be shut down is that is decentralized while the corporations you are talking are the living image of centralization and monopolies in our era, so corporations are not a real threat at all.

[Mahanton]

They are already doing it. Some governments have announced that they will issue their own cryptocurrency and many banks are behind some crypto. In that way, many alts can be threatened but Bitcoin is different because it has a limit of 21 million coins to be issued and because it is decentralized, so it has something to offer that the other cryptos can’t.

For me, governments and banks issuing cryptos is not as dangerous as most of the G20 group countries passing a hard ban on bitcoin.

The Google, Facebook, and Amazon are more dangerous than the government if they decided to implement their own cryptocurrencies. These big companies are trusted by consumers all around world, they have the money and power to make a coin of their own and dominate the market. These companies are influential enough to turn the tides, I just don't know when, or rather it already started like what tether is about now.

If they could create their own currency why they have not done so? And the answer is very simple because if they did, their CEO will be prosecuted for minting currency, the reason bitcoin cannot be shut down is that is decentralized while the corporations you are talking are the living image of centralization and monopolies in our era, so corporations are not a real threat at all.

Same thoughts regarding on this matter but we wont know if they would decide to create on their own coin since we do know that cryptocurrency is just new being known to them and they might already get the idea and might decide up to create on their own. They do have the capability since they do have the money and reputation to be used on but i do strongly believe that they would rather accept on those coins who are already being used by many which its either on btc or eth.

[Vohoanghiep]

I think some banks around the world are still trying to do this. The world is growing, technology is increasingly modern so cryptocurrency is something that will certainly appear in the future. Therefore, everyone is trying to pursue it, develop it and improve it. In the not so distant future when the central bank and the government released the cryptocurrency, at that time, I thought cryptocurrency would be legalized and used worldwide.

[olushakes]

The only threat I see is from the government because that the key threat every other threats is linked to whether from banks or any other source the moment government takes decision in support of bitcoin, every thee organisations, individuals, conglomerates will have to fall in line because that is the law and not following the law, comes with its own consequces which I don't see people ready to face for any reason. The fear now is for government to come positive for bitcoin.

[Washball]

Whenever governments or banks come with their cryptocurrencies, that would not be a threat to bitcoin and other altcoins. Government and bank cryptocurrencies will be no more than fiat currency in a different form. All centralized and controlled, so still the opposite of what we know as cryptocurrency.

[Aikidoka]

At the moment, I don't think a ban on crypts or bitcoin is going to be total (if at all it will come ) , this is because bitcoin is decentralized and distinct countries have started looking for accepting it because it would assist there economy when they invest on it.

That is what Japan has done. They recognized bitcoin but they put some rules and regulations on it. They also are investing in it. Honestly, smart countries would do the same if you ask me. Why ban bitcoin if you can get benefits out of it since its use is large? I do not really agree with what China has done.

Plus, even if they ban bitcoin, they will continue to use it on the dark net and will also continue to do their illegal activities. On the other hand, if you do it in front of the government's eyes, it really will be okay! (I am not talking about the illegal activities).

[Wipro]

It is already happening.
Do you really think that they are not doing steps while seeing bitcoin rise at this much? Of course they will.

That is the government and every one of them dont want people to be using a free currency that cannot be seen through taxes.
They also dont want that their own officials are hiding money thru means of bitcoin. So they will create their own so they can see it.

I see some news in India where the taxation department taken action against the traders who is moving with the huge funds in the crypto exchanges like bitrex and the local exchanges in India. They have done the raid last week I guess. I do not know why government are interrupting us by using the bitcoin and altcoin without anyone's intervention. Other than this you will find the hackers who is looking in steel the fund most of the time by targeting on exchange wallet.

[malikusama]

This is the reason why the governments have legalized bitcoin and cryptos because they have a better plan(after their failed attempt of cryptos ban) to introduce their own cryptos in the market and rule over them but in fact they are in credulity. Cryptocurrency users will never prefer a centralized crypto network over a decentralized network unless or until they are compel to use it. Centralized cryptos were never a threat to the pioneer of cryptos and will never be.

[BillCoin]

Seems like now days, as the bitcoin price is surging and it reaches new highs, seems like the new world recognizes it as a sort of a currency and not as an asset or as a speculation asset.

I would assume that it is going to be bigger as the community grows( price grows means community grows).
I think that soon enough some banks will start to realize that they can benefit from the system and may start to use it as a way to transfer money through their system, I know that bitcoin is a competitor but the tech can still be used.

[stompix]

They are already doing it. Some governments have announced that they will issue their own cryptocurrency and many banks are behind some crypto. In that way, many alts can be threatened but Bitcoin is different because it has a limit of 21 million coins to be issued and because it is decentralized, so it has something to offer that the other cryptos can’t.

For me, governments and banks issuing cryptos is not as dangerous as most of the G20 group countries passing a hard ban on bitcoin.

The Google, Facebook, and Amazon are more dangerous than the government if they decided to implement their own cryptocurrencies. These big companies are trusted by consumers all around world, they have the money and power to make a coin of their own and dominate the market. These companies are influential enough to turn the tides, I just don't know when, or rather it already started like what tether is about now.

If they could create their own currency why they have not done so? And the answer is very simple because if they did, their CEO will be prosecuted for minting currency, the reason bitcoin cannot be shut down is that is decentralized while the corporations you are talking are the living image of centralization and monopolies in our era, so corporations are not a real threat at all.

Is Disney prosecuted for Disney Dollars?

As long as they keep the coins only for their services the government can't do a thing.
And nobody will be able to blame them if people instead of using the coins on FB and Amazon are going to hoard them and trade them , like what is happening with Disney $.

No, the actual legislation will not be able to prevent them from issuing their own crypto.

You know there is a whoppercoin? And is issued by Burger King not a fake altcoin.

[BartS]

They are already doing it. Some governments have announced that they will issue their own cryptocurrency and many banks are behind some crypto. In that way, many alts can be threatened but Bitcoin is different because it has a limit of 21 million coins to be issued and because it is decentralized, so it has something to offer that the other cryptos can’t.

For me, governments and banks issuing cryptos is not as dangerous as most of the G20 group countries passing a hard ban on bitcoin.

The Google, Facebook, and Amazon are more dangerous than the government if they decided to implement their own cryptocurrencies. These big companies are trusted by consumers all around world, they have the money and power to make a coin of their own and dominate the market. These companies are influential enough to turn the tides, I just don't know when, or rather it already started like what tether is about now.

If they could create their own currency why they have not done so? And the answer is very simple because if they did, their CEO will be prosecuted for minting currency, the reason bitcoin cannot be shut down is that is decentralized while the corporations you are talking are the living image of centralization and monopolies in our era, so corporations are not a real threat at all.

Is Disney prosecuted for Disney Dollars?

As long as they keep the coins only for their services the government can't do a thing.
And nobody will be able to blame them if people instead of using the coins on FB and Amazon are going to hoard them and trade them , like what is happening with Disney $.

No, the actual legislation will not be able to prevent them from issuing their own crypto.

You know there is a whoppercoin? And is issued by Burger King not a fake altcoin.

New regulation is going to be created, this is what happened to casinos a long time ago, at first they used dollars but then the US government banned it them from using dollars, that is why you need to use chips in the casino, but laws regarding those chips were created as well, and if business begin to create their own tokens then it seems obvious we are going to see the 21 century version of what I described happened in the past.

[13abyknight]

The main threat to cryptos in my eyes is governments rising up to ban all sorts of mining and trading activity in their region and the major example here would be China. Of course there wasn't a long term influence on the price of cryptos by China's departure but if more countries are forced to follow suite, which is already happening, we could see the end of the cryptocurrency timeline soon enough.

Another smaller factor would be security, which has been on the loose end of things this year. Taking the parity bug as an example scenario, all projects should step up and implement their code without any flaws that and make sure that hackers can't get into the system by any means.