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Author Topic: What about negatives of Crypto?  (Read 526 times)
CreamIce
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September 21, 2018, 07:32:25 AM
 #1

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?
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September 21, 2018, 07:37:28 AM
 #2

Negative in cryptoworld can only be speculation with tokens. The blockchain technology itself does not carry anything bad, it is just created for the benefit of people, this is the most trusting and honest process. And those speculations that take place with ICO, investors, tokens and coins exist not only in the crypto world,but also in our everyday life.
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September 21, 2018, 07:46:17 AM
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 #3

The main feature of cryptocurrency is independence. Crypto provides some kind of economy freedom. No more banks setting the rules and controlling the money, no more powerful people who decide what is going to happen. With crypto people who using it are setting the rules. Finansical anarchy. And this feature is might be really helpful in some cases. I don't mean criminal acts like buying guns or drugs or doing other bad stuff. I mean that sometimes a really bad things might happen and you may need to buy something fully anonimously. If you are in some political trouble for example and want to get away from your county and danger it provides to you. And independence of cryptocurrencies will help you with that.
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September 21, 2018, 07:49:04 AM
 #4

I think blockchain is a revolution of information technology industry. And as we can see, there are many application of blockchain in reality world. Cryptocurrency will be popular too. But it's too new to accept by some countries that don't release the legal framework for blockchain and cryptocurrency.

About "good project", you can review their idea, the problems they solve as well as possible to apply to reality world. If all things what they said is too fictional, you should beware it.
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September 21, 2018, 07:49:29 AM
 #5

Cryptos, or cryptos currency, is a kind of currency, so its ultimate goal is become the currency in exchange with other goods (like an apple, a pack of cigaret...)
I think that the most obstacle now is the speed, when you go to supper market, you want to buy a kg of apple and people is not patient enough to wait for like 3 confirmation to confirm the transaction, so the "instant confirmation" is needed. If cryptos in general can solve this problem, we can think of cryptos going mainstream.

You can say that we can use the buffer service, like VISA doing for the bank, but that we will go back to the decentralisation thing.

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September 21, 2018, 07:52:07 AM
 #6

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?

You just overwhelmed.
There are more negatives of this market as well.
Ponzi and scam ico, scalability problem, market manipulation. I think these problems should be included on the all of the negative things in the crypto.
But so many people have known the crypto as a money machine. They can get a lot of money instantly if there was a pump or they have been investing in the good ico.

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September 21, 2018, 08:00:07 AM
 #7

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?

i just believe blockchain will be our future technology, crypto im not sure .. lol

blockman
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September 21, 2018, 08:08:42 AM
 #8

Hacks and vulnerabilities aren't only for crypto's. If you will study on how many hacking incidents and frauds are happening to the banking industry, their credit cards and debit cards a lot of them are being hacked and robbed.

The negatives are coming from the people who are thinking that all of these things are only available for crypto which is unfair.

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September 21, 2018, 08:15:14 AM
 #9

Dude, every thing is always have two faces, nothing is only good or only bad.
Crypto as well, it have a lot of good, but if you read news, you can see it have a lot of negative point, such as: becuz crypto is anonymous, mean you cant know who's buy and who sell, mean bad guys can use crypto to clean the dirty money, terrer can use it to buy wepon,... and goverment do not know that. Its very dangerous.
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September 21, 2018, 08:16:02 AM
 #10

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?

Overall, I think crypto currencies are the future and I believe the flexibility of just paying via a QR code is the way forward. No need to carry cash, no limits on where and when you can spend and no chance of a bank collapsing or any of the other problems that come with the current monetary system.

In my opinion the main downside is the volatility of the crypto market. For example, ETH was well over 300$ roughly 2 months ago and now we are nearing 200$. There are people out there who would have taken a massive hit on it. You need to make sure you keep your money spread out and in currencies that you believe are stable as possible.

Hopefully this helps you. Would love to hear other peoples opinions on the same question!
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September 21, 2018, 08:17:01 AM
 #11

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?
cryptocurrency is really our future but i do not see it then the way it is now the cryptocurrency world will definately change

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September 21, 2018, 08:17:48 AM
 #12

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?

Overall, I think crypto currencies are the future and I believe the flexibility of just paying via a QR code is the way forward. No need to carry cash, no limits on where and when you can spend and no chance of a bank collapsing or any of the other problems that come with the current monetary system.

In my opinion the main downside is the volatility of the crypto market. For example, ETH was well over 300$ roughly 2 months ago and now we are nearing 200$. There are people out there who would have taken a massive hit on it. You need to make sure you keep your money spread out and in currencies that you believe are stable as possible.

Hopefully this helps you. Would love to hear other peoples opinions on the same question!
there are soem problems but we are here to fix them and i am sure that cryptocurrency world will change within time

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September 21, 2018, 08:34:32 AM
 #13

As for me, I can see more positive sides of crypto than negatives. If to talk about negatives, it can be risk to lose money when trading but the blockchain technology itself doesn't have any negatives
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September 21, 2018, 08:35:28 AM
 #14

As for me, I cannot see many disadvantages, vice versa, risks are involved everywhere and I can't say that all businesses that include risks are bad and not worth it. As for me, crypto is a good thing
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September 21, 2018, 08:35:54 AM
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Apart from the obvious security and financial ones, there are definite psychological negatives involved, like addiction and depression to name a few.
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September 21, 2018, 08:44:31 AM
 #16

I think that this is still the future truth not soon it will happen very much all is unfinished

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September 21, 2018, 08:46:14 AM
 #17

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?

I choose to see the positives in cryptocurrencies and the blockchain techology in general. The fact that my country's Customs Services is implementing the blockchain technology in its operations to boost revenue is a major gain for crypto in my country.

Apart from the vulnerability that is associated with cryptocurrencies since they are digitalized and prone to hacks, losses can be suffered anywhere, whether in traditional stocks trading or in real life businesses.
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September 21, 2018, 08:48:03 AM
 #18

The general sentiment around the market has been negative for most of 2018. However, Bitcoin is a volatile asset with its ups and downs still coming.
Exchange does not use top-notch technology to protect consumers and hackers from taking full advantage of this problem. The question is, is there a limit to this hacking? After a few months, we saw the same pattern appear. This is the result of loose regulatory controls and regulators must step in to protect consumers. Anyone who wants to do anything with exchanges must be forced to adopt high-level security and regular security improvements.

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September 21, 2018, 08:51:24 AM
 #19

In my persona opinion, the highest negative of the crypto is the risk that will lose your money. Crypto is fluctuating and volatile. The price sometimes will be very down and we cannot do anything. It can lead us for losing. However, if we can make our good strategy, we can avoid losing.

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September 21, 2018, 08:54:36 AM
 #20

Everybody says, Crypto is the future and we must believe in it. Apart from losses due to hacking and vulnerability, do you think there are any other negatives of this market?

It just intrigues me since, anything that is projected as 'only good' seems, too good to be true. Or I am just overwhelmed?
Here we will discuss the disadvantages of cryptocurrencies:
1. Difficult to understand – Cryptocurrencies are relatively new and come with a learning curve. People end up investing without proper knowledge and lose money to something they did not learn about.
2. Lack of knowledge – People are not aware of how to use cryptocurrency and hence open themselves to hacker. The technology is somewhat complex and therefore one needs to be mindful of it before investing.
3. Not accepted widely – Not many websites and companies accept digital currencies yet. Very few countries have legalized the use of cryptocurrencies. It makes it impractical for everyday use.
4. No way to reverse the payment – If you mistakenly pay someone by using cryptocurrency, then there is no way to get a refund of the amount paid. All you can do is to ask the person for a refund and if your request is turned down, then just forget about the money.
5. Uncertainty & Volatility – Since cryptocurrencies are so new, they are also very volatile. This is one of the main reasons mass adoption is taking longer than it should. Many corporations don’t want to deal with a form of money that is going to go through huge swings in volatility.

With everything in life, there are always pros and cons and this is why you need to weigh both actions thoroughly before making a decision. For cryptocurrency, it’s ascension has been due to its ability to initiate secure and untraceable transactions. Now, that the technology is here, only time will tell if the rest of the world will accept it.
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