Topic: Are we not abusing decentralization? - page 3. (Read 1971 times)
Anything that we abuse too much cause a danger to us. We need also to control decentralisation because it will become a disastrous if there is no more government power. If the people will totally become independent, scamming and hacking may scattered. It might be also difficult for the victims to see the anonymous criminal. That is the disadvantage without the government.
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.
It is actually good for Bitcoin to be free from regulation, its value will not be influenced by people who intend to destroy Bitcoin. 
Yes I would agree some form of regulation needs to be work, simply with exchange have to be responsible for user funds in case of hacking or theft, other than that it's simply your own self is known on a completely anonymous blockchain, even millionaire got Rob by insiders so does crypto, thats another thing to consider but decentralisation is not the one to blame
Even with decentralization or centralization we can't still avoid abusive people. If people really want to use it for good then they will only use it for good but if people want it to use for bad things then they are going to use it for bad things even though there are restrictions from it. People will always find ways to execute their plan no matter what type of restriction.
There will always scammers no matter what technology is out there. We need to educate people about the ways to protect themselves rather than regulating the environment.
Suggesting regulation wont solve the problem though may somehow reduce the risk of loosing money. The truth is whether regulation rules are introduced or not scammers will never give up, they will look for a way to scam people and move with their money. We are our own best security. Let's be very watchful and careful with vital details and also observe closely before making any crypto investment
I think you are suggesting regulation of Crypto. Well, as for me, if it will really help all the people and the crypto community will really benefiy from it. I suggest that we should have thorough study about the system and how it can be regulated. All rules should be clear though I'm sure that there will be gray areas. I hope it will not be abused by corrupt officials in the government and the like.
A lot of these newer coins aren't even decentralized, we have stuff like EOS and Ripple which kind of go against what bitcoin stands for. They still might be great investments but they are fundamentally different from the early days of crypto.
No I believe but there are coins which are decentralised in nature which can be against other centralised but decentralised nature help the growth of coin rapidly and gives good broad features which can help the growth of coin in the market.
Decentralisation is the point that makes bitcoin safe. It prevents that the blockchain is altered. So exactly this point prevents abuse.
Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.
Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.
But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.
Regulation always sets a precedent, some of which can be extremely dangerous. There are often times where "acceptable" regulation allows for more severe infringements in the future. The question is where you draw that line, and in almost every case I have seen, outside of some form of professional/safety regulations, it is almost always a bad thing to have a government involved in regulating anything outside of safety measures for economic activity. While I can agree that there is an issue within the community when it comes to having websites shut down without warning or a getting scammed, that's just a fact of life and there's nothing that can really be done about it. Sure, you could "regulate" these activities, but how would you even go about doing it? The concept itself is ridiculous, especially in a pseudo-anonymous and trust-based community. You can't regulate something that has those characteristics tied to it. Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.
Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.
But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.
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.
Yes indeed, not to mention the illegal transactions and purchases which intends to hide (criminal activities) identity behind anonymity. Unfortunately, crooks will always find ways to abuse anything at hand. Regulation might reduce the number, but soon enough, with all technology available, they will always find ways to work around it.
Decentralisation is the point that makes bitcoin safe. It prevents that the blockchain is altered. So exactly this point prevents abuse.
Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.
Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.
But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.
Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.
Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.
But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.
A lot of these newer coins aren't even decentralized, we have stuff like EOS and Ripple which kind of go against what bitcoin stands for. They still might be great investments but they are fundamentally different from the early days of crypto.
I have heard a lot of criticism against Ripple. I agree with your argument that it is fundamentally different from the other cryptos. I never had XRP in my portfolio, because it looks a lot over-priced. And on top of that there are doubts about the total supply and circulating supply. Don't know much about EOS. Actually surprised to hear that it is similar to XRP.
A lot of these newer coins aren't even decentralized, we have stuff like EOS and Ripple which kind of go against what bitcoin stands for. They still might be great investments but they are fundamentally different from the early days of crypto.
Everything has its downfalls or weaknesses that gives opportunity for the abusers. Its regulated by knowledgeable individuals and abused by another knowledgeable abusers.
That's ridiculous mate, they are all knowledgeable in different aspects..everything have its own contrary and we can't stop them.Decentralization give us freedom but somehow it feels like that we are still lock up in cage and can't move freely cause there is something controlling our works. And even we wanting to have huge increase but still it won't.
Everything has its downfalls or weaknesses that gives opportunity for the abusers. Its regulated by knowledgeable individuals and abused by another knowledgeable abusers.
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 abuse in our economic system ,there is gap in banking system too.people abuse by finding holes in the system.bank defaulter also abuse the system of modern banking system in many country's.so don't blame the decentralization system of bitcoin.the bad guys always abuse if they find holes in the system.There is no such thing as abuse of decentralization, if in the first place bitcoin was made with decentralization. If there is anyone who abuses power here, I think it is the people who requires unannounced KYC in order to receive the bounties. Decentralization in cryptocurrency is just normal.
I would second that. There were instances when I was denied the rewards after my refusal to undergo last-minute KYC. Rather than using it to remove the scammers, nowadays KYC is widely used to cheat bounty hunters of their hard-earned rewards.
Do you believe that KYC is good for bounty hunters?
There are a number of bounty campaigns that had made KYC mandatory for the participants here in Bitcointalk. As far as I can see, they haven't fared any better when compared to the other campaigns. With so many KYC documents being made available on the dark markets, don't you think that the KYC requirement can be misused?
that is so interestıng, bıtcoın born as decentralızatıon but day by day ıt becomes more central through exchanges lıke bınance,
all crypto coıns tells decentralızatıon but all crypto coıns tradıng at central exchanges
thıs ıs so funny decentral world tradıng ın central world , also another funny thıng people talks about decentralızatıon but they dont stop usıng central excahgens, also they become funs of central exchanges whıle they talkıng about decentralızatıon
all crypto coıns tells decentralızatıon but all crypto coıns tradıng at central exchanges
thıs ıs so funny decentral world tradıng ın central world , also another funny thıng people talks about decentralızatıon but they dont stop usıng central excahgens, also they become funs of central exchanges whıle they talkıng about decentralızatıon 
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.
The question is who will make the regulation and who will implement?its easy to say each idea but what will be the implications?But i am very awaiting for the regulations because this is the only way for bitcoin to grow further and with the help of government intervention,lets make things appropriate and accept the reality that we wont win against government
There is no such thing as abuse of decentralization, if in the first place bitcoin was made with decentralization. If there is anyone who abuses power here, I think it is the people who requires unannounced KYC in order to receive the bounties. Decentralization in cryptocurrency is just normal.
I would second that. There were instances when I was denied the rewards after my refusal to undergo last-minute KYC. Rather than using it to remove the scammers, nowadays KYC is widely used to cheat bounty hunters of their hard-earned rewards.
Jump to: