The light and the dark side of Cryptocurrency

[GhoulSlayer 226]

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

[Rg123 318]

Well, the good side of crypto is we all know that this is the source of money some how, and the bad side of crypto is the fluctuation of it, its because the price of bitcoin in every hour it can be higher or lower.

[setifien 1016]

In my opinion the best side resides in its potential to gain more value in the future for example if you have 10k usd of btc now, you may have 20k or 30k within some years.

The worst side is its use in illegal activities : financing terrorists, money laundering...etc

[izDazma 42]

8 hours ago, GhoulSlayer said:

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

The good side with the bitcoin is that you can it free through posting in the forum (eg. Bitcointalk, Cryptotalk), faucets, and mining. And it deals a great price.

The bad side is that the price is unstable which will go whether ups and downs fast and which is difficult to predict. 

[aika 286]

On 11/9/2019 at 10:12 AM, GhoulSlayer said:

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

Cryptos gained notoriety, and governments startd to turn their eyes on its market and the userbase. The logical response from them is start passing laws about crypto use, and of course, taxes. Crypto will be regulated sooner or later by the governments and their dark side use will be erased.

[Akash0011 136]

On 11/9/2019 at 8:12 PM, GhoulSlayer said:

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

crypto currency have so much light side and so much dark side mate... you can safe your real money into crypto and you can increase you money also into crypto.. crypto currencies dark side are more.. so many people don't believe in crypto cause it's virtual coin that's why no one want's to believe on it.... and if you don't use proper way to wallet or translation then you will loss your whole money...

[Marsellous 934]

It is predictable that cryptocurrency has two sides. I think there is nothing to be done about it, since the blockchain gives anonymity and the possibility of illegal transfers that the authorities can not track. As for me, the benefits of cryptocurrency cover all its shortcomings.

[Rg123 318]

1 hour ago, meowmeow said:

The good side of crypto is the benefit of it to those other people in terms of transaction. We all know that crypto will for surely improve the transaction of the country. The only dark side of crypto is it can be used to buy illegal weapons anonymously.

Well, there has many dark side of cryptocurrency not only on that, this is also use by the terrorist for buying some equipments for making bombs etc.

[GhoulSlayer 226]

Just like the mob has found loopholes in fiat currency, meaning how to make money without claiming it, so will happen if crypto ever gets centralized. Criminals are clever and they find ways to steal your stuff. In crypto it could be the scam of tricking someone into opening a wallet for them or giving you a false exchange.

On 11/9/2019 at 2:19 PM, CryptoDealHunter said:

Like anything there is is a good and bad side and I fear the bad side is overtaking the good. Crypto currency is an interesting concept but with it being unregulated the market value is all over the place. Not where I would choose to put my money. I always viewed the block chain being the fare greater value than the currencies that ride on it.

In today's world where privacy is being invaded from every angle crypto currency is vulnerable to being outlawed if any large government desires to make it so.  Couple that with stigma that anyone buying products or services is seen as trying to hide something. People buying drugs, human sex trafficking, including children along with all the boogeyman stories being told that involve people buying things with their crypto. If for some reason a citizen is being investigated by any authority you can be sure they're going to have suspicions if there is a crypto currency involved. 

I think for most here its about selling and buying in order to make some money. And to that I say, have at it. For me? I see it as a red flag that draws unnecessary and unwarranted suspicion .

You are right that the blockchain holds the most value. If someone is messing with it, it's a bad sign.

Legit companies with secure wallets & exchanges are vital to weeding out the bad from the good. Blockchains hold all transactions for full view, thus creating a paper trail.

[khan22 3478]

On 11/9/2019 at 7:12 PM, GhoulSlayer said:

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

Dark side is the crypto that if someone exchange will close and we invest good money to that exchange because when the exchange will be closed our all money is gone and the bright side is just that when we invest our money in a coin and that will pump so much and our money is greater than 10 times.

[dmnqe07 365]

The goods side of crypto you can earn money here, but that depends on your knowlegde and decision making's

The bad side however is some people use crypto in some illegal activies.

[Tine0313 3053]

Well for me everything has light side and dark sides. By the use of crypto, you can provide for youself for your everyday life while it is sad to think that crypto is also using in illegal action of some people.

[Rosepetals 407]

There's always a negative and positive aspects on Bitcoin,whatever it is there's always frauds,scams,hacking just like fiat and even corruption.The world is full of circumstances that is why it's all in our hands how to stay away from those negativity.

[Sumayya 493]

What i see is good things coming through crypto way, there will be no taxes which the government use in Makin more money. Crypto is a freedom to all

[rtan0220 105]

On 11/9/2019 at 10:28 PM, Rg123 said:

Well, the good side of crypto is we all know that this is the source of money some how, and the bad side of crypto is the fluctuation of it, its because the price of bitcoin in every hour it can be higher or lower.

I agree, It is actually challenging and problematic for the investors if the bitcoin is having a rise and fall value. Having Illegal actvities on this activity is one of its dark side. On the other hand, I agree to you that this can be a source of income, that is why I join on this industry since I wanted to have an extra income because I was still a student.

[Migo 7946]

Any thing has good and bad side, I guess bitcoin is good because he solves many financial issues in our lives, and the dark side is that in the present time they used him in online scamming especially computer viruses 

[nasipadang 399]

bitcoin is like a double-sided knife, many people liken that sentence. I just saw that cryptocurrency is a currency with easy and fast transactions on a global scale. However I see it depends on the nature of crypto or bitcoin users. As you said there is a dark side and a light side to crypto that can be utilized.

 

Note: not paying for tax is a dark side too.

[GhoulSlayer 226]

On 11/15/2019 at 2:24 AM, nasipadang said:

bitcoin is like a double-sided knife, many people liken that sentence. I just saw that cryptocurrency is a currency with easy and fast transactions on a global scale. However I see it depends on the nature of crypto or bitcoin users. As you said there is a dark side and a light side to crypto that can be utilized.

 

Note: not paying for tax is a dark side too.

When we buy things using fiat currency we pay plenty of taxes, IMO. I get some taxes are a way to pay for roads & infrastructure but beyond those taxes have taken over peoples livelihood. We all know we are over taxed and crooked politicians are not using taxpayer money as if it were being from their own pockets. I like that crypto is not being taxed, is untraceable and gives people some invisible presence. Unfortunately it has the dark side of use for illegal activities.

[nasipadang 399]

10 hours ago, GhoulSlayer said:

When we buy things using fiat currency we pay plenty of taxes, IMO. I get some taxes are a way to pay for roads & infrastructure but beyond those taxes have taken over peoples livelihood. We all know we are over taxed and crooked politicians are not using taxpayer money as if it were being from their own pockets. I like that crypto is not being taxed, is untraceable and gives people some invisible presence. Unfortunately it has the dark side of use for illegal activities.

I'm just saying not paying taxes is not a good thing. In my country the biggest income from the government is the tax revenue, regardless of the nature of the politicians but the tax is very useful for the needs of society. I condemn politicians who take tax funds for their own pocket.

 

I also use crypto and I like it, there are no laws in the government that require tax payments on cryptocurrency revenue.

[Riri07 25]

On 11/10/2019 at 4:19 AM, CryptoDealHunter said:

Like anything there is is a good and bad side and I fear the bad side is overtaking the good. Crypto currency is an interesting concept but with it being unregulated the market value is all over the place. Not where I would choose to put my money. I always viewed the block chain being the fare greater value than the currencies that ride on it.

In today's world where privacy is being invaded from every angle crypto currency is vulnerable to being outlawed if any large government desires to make it so.  Couple that with stigma that anyone buying products or services is seen as trying to hide something. People buying drugs, human sex trafficking, including children along with all the boogeyman stories being told that involve people buying things with their crypto. If for some reason a citizen is being investigated by any authority you can be sure they're going to have suspicions if there is a crypto currency involved. 

I think for most here its about selling and buying in order to make some money. And to that I say, have at it. For me? I see it as a red flag that draws unnecessary and unwarranted suspicion .

Yes, I agree to this, because it is really happening and we still don't know. But I guess it has a good side too, as of now, for me, it is helpful because aside from gaining profit for this, I enhance also the skills like reading comprehension and make my time valuable. But we still don't know what happens in future, if it will come out as a good or bad, I guess, we, who are using cryptocurrency should be responsible and make investment that wil help us in our future.

[summit293 16]

The best thing about crypto is that it's not regulated by one, decentralized system has no delegation from the authority to control over it. Unlike our currency today that is being control by the government. The counterfeit of it, its the volatility of the price of Bitcoin. It easily fluctuates from time to time, that it cause why some countries didn't adopt it totally. 

[khan22 3478]

On 11/9/2019 at 7:12 PM, GhoulSlayer said:

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

Crypto is the great business but there are so many problems in it like you asked about light side and dark side of the crypto so i just tell you that we got profit in it but if someone will scam with us we don,t know who he is and we lost our money but we invest in it because we trust on this market.

[dmnqe07 365]

In crypto currency if you have the knowlegde and confident, you can earn or maybe someday successful and thats the good portion of crypto, however crypto currency can also use be use in illegal stuffs, like money laundering or any illegal activies.

[Keith700 1885]

On 11/9/2019 at 10:12 AM, GhoulSlayer said:

Cryptocurrency was started as a means to buy and sell through the internet. Once blockchain technology was released to the world it opened up the buying and selling worldwide and for anything, whether legal or illegal. Law enforcement has been busy trying to follow this trend because of the dark web. The selling of human trafficking to real underworld activities began.

But there was also the light side of cryptocurrency where one could buy goods for instance, real estate, food, clothing and not have anyone know what you are buying. No tax, no paper trail. Sounds like the good ole' days of the 1800's when there was still free enterprise, where one was free to buy and sell under their own terms.

What do you see as the future, good and bad, coming from cryptocurrency?

Well, there are several details in which I agree with you, one of the good aspects is that it attracts more freedom and time in people's lives, each person can buy in anonymity, invest and expand their life to their liking and as allowed In itself, even the bad part is a lesson for crypto enthusiasts, bad-name activities such as money laundering and hackers trying to break systems are indications of bad gaps, it is there that you learn not to do that and not commit them mistakes, even though all of that is an equal business.

[Rares002 262]

Cryptocurrencies have a lot of advantages but in the same time the truth is that they also have some disadvantages but that's how everything is. You can't find something absolutely perfect in this world.