The light and the dark side of Cryptocurrency

[hihellowb 19]

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.

[khan22 3478]

Crypto is a great market and in this market so many peoples will change their life and now this time so many peoples are going to be scam. Crypto is a great business but the scammers make this business fake for the newbie.

[Anton739 48]

Well. For me there are two sides and opinions. First-good side, is that crypto currency’s give you option to earn good money on them. The “bad” side it that crypto is commonly used by criminals and that is the main reason why many countries had restricted crypto. 

[Naylor89 1223]

Cryptocurrency has a lot of benefits. The transaction is borderless, open and transparent, and anyone can pay and transfer at will as long as they have cryptocurrencies. the only problem is that the people who are not yet informed about the great benefits that crypto brings to their lives but saying bad things about it.

[Syedbesharat 5423]

Crypto currency light and dark side is like a medicine which cure you but also have side effects which are sometimes small kr bigger. Where you can send and receive large amount anywhere and from anyone. But also is cause you difficulty in tracking scammers who loot you're assets. 

In short it depend on person usage but generally cryptocurrency was created on anonymity concept. Which is now fading away. 

[DanielaM 46]

I think the good side of cryptocurrencies is that it is a source of money generation, people without resources can improve their life through this world.

 

But I think that the dark side is the fake currencies that are in the market that seek to steal money from investors, the hackers who steal your money and when the price fluctuates and you end up losing what you invested for not investigating the project well.

[Emroyz 58]

It is excellent that the crypto actually has the opportunity to be applied as an alternative income is bad that the crypto actually has the opportunity to destroy another economic instrument that already exists. Everything has a good and bad side, for example, as users elementary take not bad and prepare for the wrong.

[toshiSatoshi 29]

the dark side is due to the lack of regulation of cryptocurrencies, but at the same time there is the good side, where there is transparency in transactions, everything has a good and a bad side.

[dvorya 68]

Hi everyone. Positive - of course, the opportunity to earn with the help of cryptotrading on the crypto exchange, invest in a perspect coin with the expectation of increasing its price and increasing your funds. The negative is its anonymity. A lot of fraudulent sites have appeared that offer to make investments at high interest rates, but in fact do not pay anything.

[Gluttony 1775]

The only thing here is that, all kinds of money or currency can be used in every ways of how the owner wanted to use it. It is not only happening in crypto currency as it also being done to the fiat currencies. The only thing that is fascinating about it is that it could be done with ease because it is digital which means that the transaction can be made conveniently not worrying about meeting with the other party just to make their transaction be done with the progress. All things that you could do with your money in fiat currency can also be done in the crypto currency but with more ease and convenience that also somewhat gives you a protection since it also grants you an anonymous access through your engagements in transactions.

[magnes975 224]

It is true cryptocurrencies have that "dark side" But I remind you my dear friend with FIAT MONEY IT KEEPS HAPPENING IN THE SAME !!!!! So they ban cryptocurrencies for what? If this kind of thing still exists with the FIAT, they only want to cover the sun with 1 finger and obviously they won't be able to, first they take out this kind of activity with the FIAT.

[Raichu1987 115]

They idea of cryptocurrencies is good, unfortunately there will always be bad people who take advantage of things, either with current currencies or cryptocurrencies, these people will look for a way to do evil, the problem will be that this could be a pretext, to try to control cryptocurrencies by governments.

[Teminali69 1081]

On 11/15/2019 at 6:05 AM, Tine0313 said:

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.

Well yes everything has it's light and dark side, but that must be measured, when something is more bad than good then it is considered bad and when more good than bad it is considered good, what do you have to say about that.

[Naylor89 1223]

The biggest advantage of cryptocurrency for me is the ability to earn more money. The biggest disadvantage of it is that it can not be used everywhere and little places accept it. The other one is the volatile price of it which can surprise us within a short time.

[percare 3192]

On 11/9/2019 at 4:12 PM, GhoulSlayer said:

No tax,

This is not exactly right and if any government finds that you skipped taxes to buy a house or any other way launder money you will be in prison. And I don't think it is something positive either for crypto to use them to skip taxes. Doing that will only pass the burden to others. You are being irresponsible skipping taxes and telling everyone in your country that they are paying for you.

[yonkii 3205]

There are two sides on each coin friend. It depends on how people will use it and since it is money we are talking about it will be used both ways. Considering everything I think that the positives are a lot more than the negatives that only have to do with black markets and the cryptocurrencies are right now the best form of money we have.

[annayks 2314]

Yes of course there is a dark side in cryptocurrencies too and this is something many in crypto are fighting. There is a very dark side also that is something we need to completely avoid and if we ever have the chance to attack them and not just allow it to happen. This has not to do with cryptocurrencies but with bad people.

[zhoutong 2188]

I don't know a lot about what is happening in underground markets but they are not only using cryptocurrencies and they were active before cryptocurrencies appeared. Before bitcoin there was tor and these dark net markets too.

[ShiNorton 906]

Usage of dark net to sell Bitcoin may not be considered as a down point of Bitcoin itself. I think scalability  is the trouble creating weakness of Bitcoin network. 

[cryptovlek 2597]

On 11/9/2019 at 4:12 PM, GhoulSlayer said:

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.

Really this hasn't began because of cryptocurrencies but this exists for a longer time than you know. Bitcoin started in 2010 and the rise of cryptocurrencies did not affect the trafficking, it wasn't increased because of Bitcoin and there is no study that proves anything like that. They were using cash 100% now they are using cash 90% bitcoin 5% and other payments 5%. There is no increase in any illegal activities just because cryptocurrencies exist.

[glyk85 166]

 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.

[noshot 154]

I am very new in crypto and I don't share this view but tell you that you need to read the complete research and data about what is happening before you have an opinion that is biased and manipulated by opposing forces.

[kryptonick 2659]

You said it yourself. The light side has 95% of the usecases of crypto and the dark side the rest, just as it happens with the other currencies. So this is a bad argument made by some people that it is only used for criminal activities. It is used in trade in commerce and remittances. Cryptocurrencies are also used as investments and even big funds are investing.

[hatambaba 1064]

Cryptocurrency is depended on internet and without internet you can't access anything. Also high fees are really a problem when network is busy, because not everyone can afford it. The main advantage of crypto is making money and by its profits you can buy what you want.

[Jromz 2158]

I completely agree with the views in this post. Cryptocurrency, as several other technological advances, can be diverted from its original purpose in order to be used for criminal purposes. For some reason, crypto, particularly bitcoin gained popularity for making transactions with illicit purposes. Yet, in my opinion, bitcoin has many good things to offer towards changing the current obsolete and no longer sustainable financial system.

Edited October 29, 2020 by Jromz
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