Topic: Are we not abusing decentralization? (Read 1942 times)

That's certainly true, mate. Unfortunately, the mindset of many people within crypto is to get rich quick. They're don't care about how useful the technology is for the real world. Either centralized or decentralized, people tend to join the next big thing in crypto. Some projects have even claimed to be decentralized, when theoretically they're not (like EOS and Ripple). Which is why, it's important to research various cryptocurrencies in order to determine which ones are decentralized and which are not. The wide misconception of decentralization, has caused many to abuse its power. Scammers, hackers, and other malicious actors have been rampant in this field more than in the centralized realm.

However, knowing that decentralization brings us freedom, should gives us a sense of being more responsible than never before. In the end, it's just a matter of choice, whenever people remain in the centralized realm (where Banks, governments, and big corporations are dominant) or switch to full decentralization altogether. Just my thoughts

Some people came to blockchain just go get rich quick while others actually believe in the real principles of decentralization.  It is all about being in complete control of your money and no one can take it away.  this is the opposite of a traditional bank, they can do whatever the government tells them to do with your money.

Decentralization has its negative sides, but many choose it. Those who abuse decentralization are people who can also deceive others in real life. So we just have to be smarter, and I think we can stay that way without centralization.

The intention was to help the general audience by using the system without any intervention coming from any centralized industry, but since it's for everyone there is no control about how others will come and used the system,we don't need to generalized the majority as it's open to anyone who understand the chain, let things happen and learned from it.

We still have a choice, right? A lot of the ICOs ask for KYC information, and that goes against the spirit of decentralization. But then again, it is our choice whether we want to participate in those projects or not. But always remember that these projects don't have any association with Bitcoin, other than using it as a medium to raise the funds.

Decentralized is being abuse is so many way as whales in the market are not really making the decentralized what it is and the market situation is also not really helping it at all but the exchange and the project collecting data's of every investors are not helping the situation.

Right, there is a saying "if someone kills with a knife, don't blame your knife" I think that's the correct statement. in this world not everyone has positive and good qualities and activities. so don't be surprised if there are bad people who abuse decentralization, but then don't blame the system itself?

Decentralization is a broad topic which is practiced not only in crypto. Perhaps, OP should have narrowed the concern down to either the abuse of cryptocurrency or Blockchain. Scammers are taken advantage of the idea that crypto is a free market without any centralized authoritative body keeping checks on transactions and the entities behind transactions.
This is why each investor must assume full responsibilities of every action undertaken because it requires extensive research into projects in order to ascertain the authenticity, capabilities and potentials of the project or coin before investing or joining the project.
With time the level of scam projects will reduce because many platforms and exchanges are putting measures in place to check for the true identity of participants through KYC and AML.

Agree. Not everything needs to be decentralized. However, the "Blockchain Hype" has caused many companies, businesses, and individuals to come up with a solution for everything based on Bitcoin's innovative technology. We've seen how different platforms like Ripple and EOS claimed to be "decentralized" when theoretically they're not. XRP is largely controlled by the Ripple company, as it owns a large number of tokens on the network. On the other hand, EOS is centralized in the way Block Producers had frozen several accounts on the network (within its early days).

I believe that companies/startups have gone too far making people believe that an specific cryptocurrency or blockchain project is decentralized, when in fact, it is not. But, it seems that most people don't care since they're mostly into crypto because of the money. Scammers and hackers have seen this, which is why they tend to attack people in crypto more thoroughly because of its decentralization.

Nonetheless, it's hoped the hype will be over as time goes by. Which means, that only truly decentralized crypto projects with real usability will survive in the future. For the rest, it's up to people to truly understand how decentralization works in order to prevent many undesired situations. Just my opinion

Exactly. That could be the reason why it’s still the wild west on most cryptocurrencies. Their decentralized nature allows anyone to do what he/she pleases without hesitation. However, with a proper regulatory framework in place, the number of scams, theft or fraud can be reduced to a minimum. As such, there needs to be a balance between regulations and decentralization. Otherwise, too much regulation could be harmful for the crypto industry as we know it.

In the centralized realm, hackers and scammers are also present. But they don't appear as much as in the decentralized realm, because centralized systems are fully compliant. Still though, as crypto land matures, we'll be able to see more law enforcement from governments worldwide. Only then, people will stop abusing decentralization bringing a calmed environment to the crypto industry.

Nonetheless, the time will come when people will realize how decentralization behaves, allowing them to take proper responsibility when dealing with cryptocurrencies. Just my thoughts

Decentralization is a system that optimizes work units to all parts in a computerized manner so that control can be carried out by the unit in real time, so that it can suppress errors or waste.
The implementation of decentralization will ultimately improve efficiency because decision making can be delegated to work units without the need to wait for central policy, with the note that it is still within the company's peratutan corridor.

I don't understand why everyone is getting so defensive here. Just like there are criminals who misuse the anonymity and decentralized nature of Bitcoin, we have conmen and scammers who take advantage of the anonymity being offered by physical cash. But is it right to blame BTC or cash? They are just a medium for making payment. Just because 0.01% or 0.02% of the users utilize them for illegal activities, we can't really blame either the currency, or its basic characteristics. I say, go after the criminals who misuse Bitcoin. You are not going to gain anything by treating the syndrome instead of the disease.

Catch a man a fish, you can feed him for a day.
Teach a man to fish, he can feed himself for life.

The less laws, The less regulation, The more people will be forced to take responsibility for their actions.

We don`t want wooden Pinocchio`s Forced to run around blindly getting pulled by our strings.
We want real men and woman Willing to run around with their eyes open.

http://justsomething.co/the-22-most-ridiculous-us-laws-still-in-effect-today-2/

That's certainly true, mate. In the decentralized world, we're the ones responsible of making the Blockchain a better place. Whereas centralized systems the responsibility lies within the middleman or third party, they're much riskier than decentralized ones. Given how beneficial is the decentralized realm, most people tend to abuse it. But, it's important to be aware of the risks involved in decentralized systems to stay away from them as much as possible. Scammers, and thieves will always exist on both ends (either decentralized or centralized).

With proper education one could easily avoid the misbehavior of many individuals in this land of the wild west. Regulation is coming in slowly but surely, into the crypto space. Which means, that sooner or later things will be under control within crypto land. Just my thoughts

thats a great ideal bitcoin is designed like the perfec decentralisation ninja star but after that purpose its harmful, chinese urban centeres suffer massively from bitcoin ressource waste.

Decentralization avoids the abuse of power from central authorities. All participants have equal power and can’t be forced by anyone else to do anything.
However, this comes at the cost of every participant taking on some responsibility themselves.

Unfortunately, greed is one of the most widespread vices. All our life we ​​build primarily around money. They rule us. Of course, there are people who put other things above everything, but I think you will all agree that living without money in the modern world is almost impossible. Moreover, each of us wants not only to survive, but to have money for good things that will simplify our life, rest and entertainment.
In an ideal world, everyone could manage their own lives and their money - this is what Satoshi wanted. But in our reality, things are going differently.

Cryptocurrency is becoming tough and becomes a battle for all investors. You have to be stronger, smarter than other investors to make a profit. Many of us have chosen to cheat to usurp Crypto from others. Many wealthy people take advantage of decentralization to speculate and control the market the way they want. Decentralization and anonymity are making the market badly manipulated.

Decentralization without responsibility, accountability and good regulations can be an invitation for people with ill intentions to exploit the system for their own good to the detriment of the greater population. And we have seen this sadly especially last year when scam and failed projects exploded before the very eyes of the cryptocurrency community. This abuse has to stop otherwise the whole industry can be reduced into a big joke which can make its future somehow bleak affecting people who labored for this industry. I have been saying this all along: The whole industry has to be doing something concrete to address this problem.

Crypto billionaire have come to have such a hight amount of centralized influence and power over the decentralized space. They make anti-commnunity decisions. This defies the essence of having a decentralized space. Cz_binance recent delisting of BSV comes to mind. The crypto world is still heavily centralized.