kram36
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bcavnaugh
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 11:03:31
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kram36
They better figure out how to stop this or Cryptocurrency will fall and never be trusted again.
https://forums.evga.com/W...-Browser-m2736317.aspx
+1 Now Miners have to worry about Miners Stilling from Minors  As stated Before here on the Forums The Gold Rush Killed off the Miners and History Repeats itself over and over.
post edited by bcavnaugh - 2017/11/30 11:06:45
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kram36
The Destroyer
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 11:25:40
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Cryptocurrency will start to be looked at as Fool's Gold if they don't stop this some how. This is stealing and anything that is obtained that way will lose it's value and people will no longer accept it. This is going to destroy the future of Cryptocurrency in the eyes of normal people and it will fall back to the value of zero in the real world right where it started. Just at the point where normal people start to think this might be a viable form of currency, thieves are going to kill it.
Nobody wants their property to be taken control of and be used by someone else for unearned financial gain. If this gets out of control, Cryptocurrency will die.
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bcavnaugh
The Crunchinator
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 11:28:23
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Bummer, Why did I not come up with "Fool's Gold"
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Grey_Beard
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 12:37:50
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bcavnaugh
Bummer, Why did I not come up with "Fool's Gold"
Because you are not a fool. The value of a currency is all about trust. Without it even the dollar will collapse regardless of the support of the government. That support helps to legitimize it because you trust it’s value. With crypto-currencies, it does not get that kind of support; therefore, trust is even more important. The run this stuff has been on is extraordinary, unfortunately it will drop at some point. If the drop is because of this type of coding, then I agree that it is done. It will be relegated to the currency for illegal activities and will not be accepted as a legitimate form of payment for legal transactions. Even without that it could still fail. I also thought we had an electronic form of currency, it is called credit, as there the backing or corporation can instill trust even when nefarious things happen, such as inappropriate charges. The bank or company provides that backstop which is translated into trust. Imagine if that did not happen, would you trust using a credit or debit card?
post edited by Grey_Beard - 2017/11/30 12:40:26
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bcavnaugh
The Crunchinator
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 13:21:30
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Welcome back Grey_Beard Long Time No Here. Hope all is well your way.
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Opolis
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 13:30:44
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I noticed there are browser plugins to block this, similar to Ad Blockers. Transparency in the task bar helps with recognizing this particular attack. To me this is no different than any other malware/virus/etc. If they were generating USD instead of Monero, would everyone be up in arms about USD? No, they would focus on the attack itself. I actually feel that cryptocurrency is gaining trust, with governments stepping in to regulate, large financial companies getting on board..which in turn makes it more legitimate.
post edited by Opolis - 2017/11/30 15:09:25
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kram36
The Destroyer
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 13:42:14
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Grey_Beard
bcavnaugh
Bummer, Why did I not come up with "Fool's Gold"
Because you are not a fool.
The value of a currency is all about trust. Without it even the dollar will collapse regardless of the support of the government. That support helps to legitimize it because you trust it’s value. With crypto-currencies, it does not get that kind of support; therefore, trust is even more important. The run this stuff has been on is extraordinary, unfortunately it will drop at some point. If the drop is because of this type of coding, then I agree that it is done. It will be relegated to the currency for illegal activities and will not be accepted as a legitimate form of payment for legal transactions. Even without that it could still fail. I also thought we had an electronic form of currency, it is called credit, as there the backing or corporation can instill trust even when nefarious things happen, such as inappropriate charges. The bank or company provides that backstop which is translated into trust. Imagine if that did not happen, would you trust using a credit or debit card?
Perfect excuse for Governments to step in and outlaw Cryptocurrencies for illegal activities.
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Chris21010
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 13:57:42
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kram36
Cryptocurrency will start to be looked at as Fool's Gold if they don't stop this some how. This is stealing and anything that is obtained that way will lose it's value and people will no longer accept it. This is going to destroy the future of Cryptocurrency in the eyes of normal people and it will fall back to the value of zero in the real world right where it started. Just at the point where normal people start to think this might be a viable form of currency, thieves are going to kill it.
Nobody wants their property to be taken control of and be used by someone else for unearned financial gain. If this gets out of control, Cryptocurrency will die.
crypto is not to be blamed here. this is simply a new wave of virus/malware attacks that developers of windows/antivirus/web browsers software need to start looking at seriously. that and partially google/website owners not keeping their sites clean or purposefully installing these scripts themselves without informing the end user. your statement is just as flawed as someone who says a gun manufacturer should be responsible for murder when someone is killed by a gun they made.
post edited by Chris21010 - 2017/11/30 14:02:00
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Grey_Beard
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Re: How to destroy the credibility of Cryptocurrency.
2017/11/30 14:11:23
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bcavnaugh
Welcome back Grey_Beard Long Time No Here.
Hope all is well your way.
Thanks bcavnaugh. Things are great. Had a few transitions over these last two years in both residence and employment. All good things, but they have not allowed me to settle back to my computer hobby. Will still be about another six months but I plan on getting back into the swing by then. I misss distributed computing the most, but I miss this forum too. kram36
Perfect excuse for Governments to step in and outlaw Cryptocurrencies for illegal activities.
Not sure this concept can be outlawed. The dark web can keep cryptocurrencies flowing without government intervention or knowledge. The hard part will be for the transition into hard, established or governmental currencies once things transition that way. Criminals can be very creative, so there will be a way. Not sure how asset seizures would work when the assets seized are not cash but bitcoin with no legitimate value.
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