The problem here is that the POD credibility/usefulness starts to really struggle.
Midascoin also had a good POD and the devs just disappeared scamming everyone. Now it's GLOW which also has a good POD review. What purpose does it serve if once the community find the truth, nothing can be done anyway ?
As I see it, POD is only a harder step for scammer to achieve their goal. But it also has the very bad side effect of filtering out all the wannabee scammer to only let pass the serious ones that are not afraid to afford a fake passport and create a fake identity.
In this sense, POD is pretty useless, harmful even, giving a false impression of security, and making people less prone to do the necessary background checks on the team behind the coin.
The concept of the POD system is ridiculous. You are putting the burden of proof on a system that is just begging to be tampered with and manipulated. CryptoAsian is placing himself in a position where he is acting as a notary, or witness thereof, yet there the system he has put into place is as thin as the fake photoshop passport Mr. Glow used to obtain "Certification". I'm sorry, but it's joke.
There is no governing authority or body which certifies coins. We all need to learn, once again, from this. Its not as if this is the first time.
Dev's who want to be taken seriously as "SERIOUS DEVS" should take meaningful steps to show they are committed to the coins they produce.
Now the system that CryptoAsian came up with is simply "high school".
I'd propose something along the following:
- Devs should register their coin name within their jurisdiction as a corporation or business entity. Their governments would require them to provide actual proof of existence. Incorporate. Create and LLC.
- Devs could provide a Notarized Letter of Proof of Identity - which can be checked.
- Devs should provide a minimum of 2 years internet presence on multiple portals. Ebay, Paypal Verified, Facebook, Etc.
If a Dev isnt willing to provide the above - do you really want to buy his currency? I mean really?
People need to get real. In all honesty - and this is THE TRUTH, the people scamming everyone, are likely very close to all of us. The ones we trust to give us calls. You know who they are. These coins are not produced by random Chinese programmers. They are put out by people who pose as your friends. People you have come to trust.
The truth is you know nothing about them. But they have your ear... and you listen... and you buy... and they know that. They prey on that.
Strato