Is Decentralized Currency dangerous?

[Kakashi2020]

Lacking in both government supervision and rules, some people are saying that Cryptocurrencies can be very dangerous.  But how exactly is it dangerous?  What are the dangers that we should be aware of with regards to decentralized currencies?

[cks003]

Decentralised network as in block chain technology used to trade virtual coins, on the contrary, is the safest in terms of privacy, theft etc compared to current system that uses intermediaries such as banks and big organisations.  The information uploaded and recored in the chain cannot be changed without the approval/consensus from the nodes in the network.  It is impossible to garner the support of all individual nodes in the network to make change if it the transaction is contentious.  The creation of a new chain to the block is also a public knowledge.  Thus, the information and value stored in the decentralised network using the block chain technology is the safest.  

[JPK0007]

Well i think the biggest dangers in regard to the cryptocurrency transactions have to be the security and fraud issues. All these transactions are unregulated and there is always the chance of getting involved in a fraudulent exchange. People will open an account at such exchanges, pay for there desired crypto but the fraudsters will steal there money and they will never recieve there desired crypto from them. Also there can be a possibility of loosing your Bitcoins when an exchange with your wallet gets hacked.

[janie1984]

The dangers of cyrptocurrency are way larger than just the lack of government regulation and security and fraud issues. Mining takes up a lot of electricity and most systes were not built to handle the pressures, especially with most mining operations occuring in areas that may not have traditionally used so much energy (i.e. homes, warehouses) so it runs the risk of disrupting electricit flows. Also, because of the large amounts of energy required, it generates carbon dioxide and other greenhouses gasses that are created when making electricity, this adds to the pressure on an already incrediby stressed planet. Also, the ability to use cryptocurrency to hide wealth from the government can have negative impacts on the services provided to people and potentially contribute to a lack of trust by people for the banking system and the importance of transparency.

[Bravosi]

Yeah, I believe THAT it is dangerous. But not to us, but the globalist banks and governments. Though, I keep having my suspicious level high, because what if Bitcoin and other cryptocurrencies are a secret project to get people's money and then suddenly crash it, making us even more poor compared to them? I know it's a conspiracy theory.

[Martinsx]

To the government, it's practically dangerous because they would lose all their possible controls and manipulation of the currency, thereby leaving everything in the hands of technology.