Topic: Are we not abusing decentralization? - page 2. (Read 1971 times)
yes people will certainly not be satisfied with what he has other than that also with the decentralization increasingly makes hackers and others safer to steal data and cryptocurrency that you have. so we still have to be careful about sites that we visit especially those that are decentralized like that
Why do you need daddy to wipe your bum bum still? I think we are big boys now.
https://www.youtube.com/watch?v=orGDoXo7xKA
https://www.youtube.com/watch?v=orGDoXo7xKA
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
No, keep everything decentralized as much as you can, if you google that word it`s description is not so good, so a better term is censuses of entire network.
decentralize:
transfer (authority) from central to local government.
"Canada has one of the most decentralized governments in the world"
move departments of (a large organization) away from a single administrative center to other locations, usually granting them some degree of autonomy.
Infact it should be a consensus of the entire network, a true democracy, not a representation of one like we have in Canada.
100 people in a gym and we elect Joe and Sally to be representatives for us.
Joe wants to play hockey in the gym
Sally wants to play basket ball in the gym
98 others want to play soccer in the gym but can`t because they voted people to vote for them
Why not just vote on the issues at hand? then 98% of the people will be happy playing soccer.
https://imgur.com/haz02ll
Everything comes with good and bad its how we use it that matters?so why should decentralization be any different.
You have a point there. You can't blame Bitcoin or the decentralization for issues like dark market and ransomware. These were not the intended uses of Bitcoin and we should rather blame the individuals who use Bitcoin for these purposes. In case Bitcoin is not available, then these people will just shift to another medium for their criminal activities.
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
Regulation is not the solution to this problem.
Greedy people are and we need to eliminate them. Those greedy people will always be a problem and they will feed the scammers and those abusers of this decentralized ecosystem.
This liberal system is not at risk, but people who trust anyone who offers easy money makes the system at risk.
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
Greedy people are everywhere and we could‘nt blame them because it has a freedom to use infact we need to accept because not at all is perfect,decentralization now was getting broad in crypto because as i said it has a freedom to use and the things that handled by decentralization was depending on whoever uses it. 
Everything comes with good and bad its how we use it that matters?so why should decentralization be any different.
You have a point there. You can't blame Bitcoin or the decentralization for issues like dark market and ransomware. These were not the intended uses of Bitcoin and we should rather blame the individuals who use Bitcoin for these purposes. In case Bitcoin is not available, then these people will just shift to another medium for their criminal activities.
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
Well, in this kind of industry greedy people is everywhere yet stealing someone's money is inevitable here especially that this cryptocurrency is decentralize. As a matter of fact, even in centralized community it's still happening hence, all we need to do is too keep knowledgable all the time in order to prevent our money to be stolen. In every industry we embark on especially on the presence of money or investment there will always be a people who will abuse their fellowmen. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization.
no, they are being robbed and scammed because they chose a centralized place to put their decentralized bitcoin. in other words they got scammed the day they decided to leave their bitcoins on exchanges and not have control over their private keys. and this has nothing to do with decentralization!Most bitcoin stolen from exchange were from centralized exchange. Culprits remained anonymous due to decentralization of bitcoin. People who are into illegal activities are surely enjoying this attribute. That is why some exchange are starting to comply with regulation and tightens their security with mandatory KYC.
Everything comes with good and bad its how we use it that matters?so why should decentralization be any different.
No matter how sad it is, but all good things in this world somehow pass through severe tests. Decentralization now often resembles the no-GMO label on food, a marketing tool
regulation and decentralization seem like an odd mixture to me...
the closest thing to it is the BIP
the closest thing to it is the BIP
No decentralization os one way to stop abuses especially on high transaction cost from.the banks especially when you do volume of transactions. These bankd get huge money if there are like volume of money transacted to which they will have more or less 5-10% of the transacted money will be deducted in a form of transaction fee.
Now if this is being decentralized then there is no point on one getting abused for this is peer to peer and if one abuses the system then you may not proceed with the transactions.
Now if this is being decentralized then there is no point on one getting abused for this is peer to peer and if one abuses the system then you may not proceed with the transactions.
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
There is no denying that decentralization could be abuse due to no one has control over it. Illegal activity could be accomplished anytime and anywhere they want without anyone knowing. Bitcoin could be used in any form and sure just like the normal currency, it could also be used in abusive activities. This is why there should be some kind of regulation to balance the problem.
What do you mean by saying or thinking that we are abusing decentralization? No one is abusng the use of decentralization in relation to cryptocurrency. Decentralization and cryptocurrency is in fact providing people with financial freedom making it easier for them to make transactions online faster with lesser fees. People who don't understand how cryptocurrency and blockchain technology operate are those who think we are abusing decentralization.
You have to accept these things. Because everyone has to be careful and wise about investing matters. If you choose an honest and real project, you will have zero percent scam fear, but if you choose a random project without a proper team or vision then you will be affected by the scam, so, it's all about you! Regulations can protect users from the hacker or scammers. But do you think if a strong regulation come in the crypto industry, Satosh't vision will be fulfilled? Don't you think regulations would kill the total crypto's decentralized nature?
Well, regulations are not bad for the Blockchain Industry and they don't affect the decentralization of many cryptocurrencies whatsoever. However, when there's too much regulation, it could be harmful for the growth of this industry in general. The banning of a specific cryptocurrency within a country, prevents it from being used more thoroughly at that region. Of course, the decentralized nature of crypto allows anyone to still use it, despite the restrictions of any government.
Despite this, too much regulations and the complete dependency of centralized exchanges would prevent Satoshi's vision from being fulfilled at all. We've seen many projects announcing that they're decentralized (like Ripple, and even Steem), when in theory they're not. In this sense, the term "decentralization" has been abused as it's been misused for greed and profit, instead of being used to deliver real use cases for the world.
Nonetheless, time will tell us whenever decentralization can be fully fulfilled or not. Just my opinion
I think the main challenge faced by decentralization is based on the fact that most cryptosystem conceal their actual objectives. Easy prey fall readily for them thinking they are making progress in terms of bogus profits they offer. Most newbies are their easy prey. So, the only option in making a choice of investment is to look out for a complete decentralized system in order not to be scammed.
The original idea of decentralization is very good, the problem is that to date no cryptocurrency has achieved a practical and massive use, then the large companies that are participating in the different projects centralize their use, as we see it with whales mining, ordinary people can not compete, the day when people can use cryptocurrencies from the purchase of a newspaper until the imports of a fleet of vehicles, then we will see a true decentralization, over there we go, that's for sure.
Valid point, but this is true for any technology or change. We have seen this happen multiple times in our history. There will always be scammers who will try to con you. Also, scammers do not understand the technology but want to make money through gullible people.
Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.
Decentralization was itself brought forward with a concept that there won't be any need of regulation in the economy as people would be able to manage themselves and control their own finances. But some people have used this in a very poor manner. This has made us rethink about the prospects of regulation in P2P network too but inculcating the same would be a very challenging task. Moreover I am pretty damn sure that this problem would become a major issue in growth of btc as people want safety first. We are really abusing decentralization a lot. Jump to: