The Dangers of Bitcoin

[Sanu Simon]

When you think it is dangerous, it will continue to be a danger. None is sure with their own life, same is with bitcoin we're not sure of what happens with bitcoin tomorrow. In the upcoming years the surety will grow, as people have started to believe it more and more.

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[Indrawan77]

I read it and it's just the article that written by the central bank or government that afraid bitcoin is going to be more popular than fiat transactions, all of us already aware all the dangerous that potentially occurred when we used bitcoin and no back up or supervision transaction from government is one of the features that become the reason why we used bitcoin, we should be careful when we invest in bitcoin but the danger that the article written is exaggerated

[genology]

Experts say that it is a bubble waiting to burst. Based from them, it has a huge demand but there's no money to supply it. On the otherhand, BTC continues to create an upward shift on its growth and more and more businesses/people are adapting this currency due to its convenience and usefulness.

[khaled0111]

When i read the article I was expecting to read about new risks but all I found is just outdated information that people have been talking about since the appearance of Bitcoin.
Even more, some of the risks mentioned there can be considered as advantages according to traders.
either the author is just a novice or he is trying to attract visitors by using such title.

[AbyssLagiaz]

Dangers might come from yourself or from political forces. Yourself, meaning it is in your responsibility on how you hold your Bitcoin just like holding fiat money. In political forces, it can be the banning of Bitcoins due to misinterpretation of being a scam or the government simply doesn't like the cryptocurrency

[vinzanityyy]

I guess the dangers of bitcoin is that it is not safe, by the term " not safe" It means that it is not 100% secured because there are scammers in th web, that is why you should be vigilant.

[Jay taylor]

bitcoin is a disruptive technology but not for that is meant to be safe. Around the world right now there are some concerns about the uses of Bitcoin:

Who is the legal back-up of Bitcoin?

If someone steal your wallet with your bitcoins inside, who is the authority that is going to act for that consideration? Actually, none because bitcoin is free of authority which is a good thing and bad thing also. For example, when Mt Gox. went to bankruptcy, no one took care of thousand of people which bitcoin was stolen (according to them) and the japanese governement, even that took actions against Karpeles and the company, wasn't enough to fulfill the situation.

My government banned the Bitcoin

I personally lived this situation. I live in Paraguay and I have friends in Bolivia, which tells often that the Central Bank banned the bitcoin, even with the situation that they can buy/sell bitcoins without any problems. I explained them that, even if they succesfully close some websites, they can't the bitcoin down.

A killer-app or technology like quantum computers.

This is currently a common argument because they say computers are going to be so smart, bitcoin is going to belong to a Quantum computer machine. I don't know very much about quantum machines except what I read at Wikipedia but the only thing I can say this argument could be true IF Bitcoin stop making upgrading and developing better ways to ensure the transactions.