The light and the dark side of Cryptocurrency

[BrolySSJ 7899]

I think that the use of crypto is a good thing and the future for this currency does look very bright. The concern that i have with this currency is, as you have said, the illegal operations due to the anonymity, which i actually enjoy because then i don't have to give out my personal information for transactions when i buy daily stuff. Therefore i think that the key moving forward into the future of crypto is to find a way to limit the use of crypto in illegal trades so that it is better utilized and as such many more countries will be open to its use.

[Calvinpriva 17296]

I don't see crypto as a crime coins because crimes in financial section was there even before crypto currencies! There is only one dark side of crypto that i know, you can't recover them when you have send your coins to a wrong address accidentally. Many people have lost their crypto coins because of this! The light side there are many good things including uses, we can transfer money to our friends/ families anywhere in the world by using crypto in just few minutes/ hours.... and many more!

[TimopheyKa 3900]

I think cryptocurrency has many positive sides, but there are also disadvantages, which are more in anonymity! That is, due to anonymity, a lot of all sorts of fraudulent schemes take place, which is very sad!

[BTC Future 3946]

22 hours ago, TimopheyKa said:

I think cryptocurrency has many positive sides, but there are also disadvantages, which are more in anonymity! That is, due to anonymity, a lot of all sorts of fraudulent schemes take place, which is very sad!

Most cryptocurrencies don't provide any anonymity at all. Bitcoin, Ethereum, XRP, Litecoin and basically most of cryptocurrencies are transparent and every transaction is recorded on a public ledger, the blockchain. 

Any researcher can make on-chain analysis and figure out what is going on. In the end the money will be connected to an exchange account, which in turn is connected to a bank and an identity.

This pseudoanonymity and the fact that people thought they were anonymous with Bitcoin was the reason for many criminals and money launderers getting captured.

[Brushless4500KV 4214]

Anyone who is looking for 100% anonymity should only opt for full privacy coins. Cryptocurrency came into existence with the idea of privacy and hidden details of transactions but soon people realized that this is not the case and most coins that have claimed anonymity, had visible ledgers! To fight this, coins like Zcash and Monero were developed with fully invisible ledger systems. This invisibility can be both a dark and a bright side of crypto because it lets people to make transactions with increased safety but at the same time it makes it almost impossible to track scammers.

[BTC Future 3946]

While until recently the darknet markets weren't so big, it seems they are increasing year by year and lately the use of Bitcoin is also increased. Some of these markets contain material which is sick and items for sale which are dangerous and can cause damage to many people. There is a reason why all of these are banned in every country.

 

Sadly if Bitcoin keeps being used increasingly in similar markets it will create a terrible name and it will perhaps be always connected with the internet darkweb markets. Governments that hate Bitcoin won't find it difficult to blame it for everything. Morelike finding in bitcoin the scapegoat to keep promoting the current failing monetary system.

[Honny143 13612]

Every thing have two sides good and bad, in crypto also we see this crypto used mainly for earning source our transaction encrypted and we don't need middle person, but other side so many users use this crypto to pay payment in drakweb for crime activities, and scammers use scam innocent peoples.I don't say crypto bad its depends on us which way we use this.

[Naylor89 1223]

I think there are two dark side of cryptocurrency. The first one is that cryptocurrency has no physical shape but a lot of people want to see it. the second one is that cryptocurrency available only on internet. So if you have internet then you can use it and if you don’t have internet then there is no chance to use cryptocurrency so these two things must be remove from it.

[koussai999 1986]

One of the best things that cryptocurrencies provide is that you can buy and sell in this world with all privacy, and this is really what many people need in a time when privacy has become lacking in the internet world.

[Guru2050 8284]

To me, the light side of Crypto currencies surpasses the dark side, simply considering some of its key features good example are it's decentralized in nature and anonymity in terms of performing transaction. This makes Crypto more suitable and comfortable to use compare to fiat currency. 

 

[Moaz 7239]

Any field in this life has good and bad sides. As for the field of crypto,  good side is because it has become possible for anyone in the world to earn money away from the control of banks, and it also has a bad side because there are some bad people who use cryptocurrencies in illegal acts

[Ndayebo8 0]

I think the advantages of crypto currencies are very alot of in numbers and their disadvantages is very low and the main disadvantages of the crypto world is that the new people in cryptocurrency can predict bit I think that cryptocurency in the future will be better than now, this is only speculation and I hope that will happen. Some People are using bitcoin for money laundering and kidnapping since bitcoin is untraceable. 

[Dark_Sky 8489]

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.

That's right crypto is really a good source of income but when the price goes down it also has positive effect which some people in cryptoworld could buy coins in cheap price. It depends on the people on how they going to take an advantage whenever the price go down or up. 

[yato987 2811]

to be honest i see both , we can't say that crypto is not used too much by people to do illegal activities like you mentioned in the topic and they foe sure use it in worse things than that , and that is why governments still consider it as illegal since it also make it harder for governments to track them 

but there are always a bright side , many people with limited income improved their lives because of crypto , and also student s who don't have time to work in traditional jobs can now work on crypto from their homes

[Cryptic 0]

I believed that the concept of good and bad of anything like crypto is depend on who used it and where they used it, it is good when it use only in a good otherwise bad. Since the good thing that the crypto offers is greater than its bad thing and a lot of people see its potential especially in terms of security, then I think a lot of good things will happen on it in the future. 

[Fixfin 2569]

Taxes exist in regulated markets but they are paid in the shop you make the payment, but we don't have many of these yet, perhaps japan only. The rest you buy are mostly tax free and this can make problems to an economy if there is no tax collected, who will pay for schools, hospitals and roads. You cant have private investment for everything.

[Onden 2098]

I don't think there is a downside to cryptocurrency, there are many good sides to cryptocurrency. Cryptocurrencies are very helpful for unemployed people, they can make money trading crypto. This could have better economic implications for people in countries that legalize cryptocurrencies. Stop the domination of fiat money which is controlled by bankers so that the people's economy is not monopolized by certain people.

[Danii2312 34]

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

[Swapzone 174]

Cryptocurrency seems to be the future money. It solves various financial problems by providing freedom, anonymity and decentralization in the financial space. Although, there are also some negative aspects of crypto too.

[hatambaba 1064]

For now it's rather difficult to say investment in cryptocurrency is profitable, if you look at the current market situation, but it depends on each individual in thinking for the future and confidence. investment may be as long as it is ready for risk, if the crypto price rises and if the crypto price drops the risk awaits.

[expert_para 80]

Cryptocurrencies that focus on privacy sound really scary for states. Coins to be given as examples of these coins like Monero, Zcash and Dash are now causing states to stay distant from crypto coins. It is a huge concern that they are not followed.

[Zigor 49]

Every investment has its advantages and disadvantages and my opinion is that since you buy a cryptocurrency you are already investing in it, and there is always the possibility of taking a little joy and the misfortune of losing everything, so it is always recommended to invest only what can you afford

Edited October 4, 2020 by Zigor

[smsprocs 11]

Black side of crypto is unpredictability of course dynamics: hard to guess when to buy and when to sell

[malik6314193 5449]

Now crypto currencies is mostly used by dark web users and it unknown to common man. But in future the crypto world is looking good for common man and they will able to use it for positive view. 

Edited October 4, 2020 by malik6314193

[baykriptoo 15]

i have seen some comments and also knew myself that not all things here in crypto is legal.. there are also bad things here which is illegal.