Are we not abusing decentralization? - page 8.

malikusama

copper member

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Quote from: Kelvinikke on February 03, 2019, 02:46:13 AM

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.

From the local market to the digital market scammers and robbers are every where, so you can't link it with cryptos only.
The reason of these high level of scams in the market is lack of knowledge. One who is using cryptos should be aware of security and privacy terms of these digitalcurrencies.
Educate people more about blockchain and bitcoin security so that they can better take care of their assets, in order to reduce number of scams.

St4yInTh3D4rk

sr. member

Activity: 686

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"STAY IN THE DARK"

And we have lot of regulations on fiat money usage but still the world is full of scammers right?

There will be always some people who want to make easy money by scamming others so they don't even care about what the technology is about,they will attempt to scam so the fault is in the hands of people who is falling for those scams,and one thing in bitcoin we can find the scammers easily when compared to fiat money scammers.

keanne_isaac

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www.daxico.com

For me we are not abusing the decentralization technology rather we are maximizing the benefits and advantage it may bring to us and until now massive development are being introduced to public. In due time decentralized technology will play a major rule in more advance technology.

Dudeperfect

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I absolutely agree with your opinion that we are not taking full advantage of the decentralized system in a way that was expected by the inventor. Most of us are involved in speculation activities and we are not giving first priority to use Bitcoin as a payment instrument which is restricting the growth of this innovation. I believe that awareness should be the first step from all of us to reduce the possibility of being scammed and then we can move forward to acquire the advantages of the decentralized ecosystem.

idham29

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Activity: 315

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Quote from: septi.JR on March 03, 2019, 08:16:00 AM

very regrettable, I really like the idea satoshi nakatomo in decentralization, people steal because there is such a large and easy value in making transactions, with decentralization all trade only requires historical orders, misused technology

Decentralization cannot be misused because all data can be monitored by all users, making it safer than centralization. Besides that it cannot be manipulated or hacked.
So from this decentralization model is a data server by many future-oriented companies, because the future is a digital world so that all are done in a computerized manner.

princeyeboah

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Quote from: Kelvinikke on February 03, 2019, 02:46:13 AM

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.

Wherever money can be made, scam can be found. Well, I don't see the numerous project on the market as abusing the Blockchain technology but rather as a scene which shows the utilization of the innovative Blockchain technology. The scam projects in crypto will eventually be curbed as incoming platforms that hosts these projects put checks on the new projects.

robelneo

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Everything has its disadvantages and bad sides and decentralization has a lot of it, including scamming people and transacting illegal stuff using cryptocurrency it is something that we must live with and the one that hinders the legalization of cryptocurrency

jojohamasa

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Merit: 21

Quote from: Kelvinikke on February 03, 2019, 02:46:13 AM

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.

Having some problems in a field does not mean that we reject it all
Problems related to private switches can be overcome by relying on wallets to save money and not exchanges until this loophole is overcome
Be carfull ... the regulations will move us to central in the end ... !!!

RareFortune

full member

Activity: 602

Merit: 146

Bad people will surely take advantage of the decentralization but there is possibility to avoid them if we make more guidelines or instruction for new comers to know more about investing in cryptocurrency and help them to stay away from fake projects. Scammers are targeting these people because they knew that they are easy to fall for a trap.

Onuohakk

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I don't think we are abusing the decentralized system.
Cryptocurrency is still very much not under the regulation of any government or institution

LUCKMCFLY

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Leading Crypto Sports Betting & Casino Platform

It is not abuse, what happens is that we live in a system of rules, where governments and banks dictate their rules of control, no government accepts that people reach their financial freedom and can manage large capitals, their control begins to weaken, also in the case of banks, are those that control even the large sums of money that each person must withdraw, with bitcoin and blockchain, you can manipulate your money as you wish, there is no third party to control it, this is freedom thanks to the decentralization.

Pattart

hero member

Activity: 1190

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Quote from: @Hakermania@ on February 27, 2019, 06:03:29 PM

Quote from: Kelvinikke on February 03, 2019, 02:46:13 AM

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" is one of the most exploited themes, often exploited by fraudsters to raise funds and disappear. it's also abused from another point of view: decentralization = freedom and centralization = evil .. I think these associations are wrong: I think the truth lies in the middle, the world needs both in the right balance

Indeed, it is rather difficult to interpret which is true, because decentralization is indeed intended and serves to maintain your privacy, and we do not care about your goals and purpose of transaction. but from that its misunderstood, because freedom does not mean someone is free to use it for evil though. the point is many people are abusing this system

kucritt

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Activity: 616

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yeah you are right, we know that bitcoin and cryptocurrency has decentralized system, and i think that it is the features and i think it can be the weapon ti shoot cryptocurrency itself, so i think that we should know about this, the benefit of the decentralized system and the disadvantage of the decentralized system

imstillthebest

full member

Activity: 1638

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Yes we are abusing it . when people discovered that crypto is decentralized , they are starting to like it because they were also suck at using centralized currencies .

they knew that when they used centralized currencies , the government and banks are only benefiting the most .

We abused decentralized in a good way . theres nothing wrong with that , so dont worry

FIFA worldcup

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Quote from: sapnu on February 25, 2019, 09:27:47 AM

Quote from: Kelvinikke on February 03, 2019, 02:46:13 AM

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.

We are not. Decentralization of cryptocurrency is an advantage for the cryptos itself. It is good that no one handles and manages it just like government. This financial industry and digital money world is good for everyone of us especially when we are smarter. You will be only scammed when you have ignorance in your head. Just be informative in every step you take.

We are not violating decentralization for now. Crypto and bitcoins are not in control of anybody and therefore everything is still decentralized. However we see often steps being taken to make crypto regularized. If there are regulations introduced in crypto worldwide, then it can really damage the decentralization nature of crypto currencies.

septi.JR

sr. member

Activity: 658

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very regrettable, I really like the idea satoshi nakatomo in decentralization, people steal because there is such a large and easy value in making transactions, with decentralization all trade only requires historical orders, misused technology

Abiky

legendary

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Vaskiy on February 22, 2019, 04:29:37 PM

As the decentralization has provided with the easy access for dark web needs, it isn't abusing decentralization. It is upto the user who make use of it, even with the fiat large scale illegal activities happen than that happening through bitcoin as well other digital currencies. When one has got good in it surely it'll have negative side as well.

Completely agree with you, mate. It depends on the individual itself rather than the decentralized design of any cryptocurrency. In the same way the Internet can be used for both good and evil things, cryptocurrencies are similar. Sometimes, decentralization brings its risks as there isn't a centralized authority. Anyone can do anything to their own will, since cryptocurrencies provide freedom. While this is true, it's still possible to control the level of illegal activity with the implementation of proper regulatory measures by the government.

As such, decentralization is a double-edged sword that can either benefit or destroy you. What's important is to be responsible at all costs, to avoid many undesired situations in the future. The only thing which I consider to be an abuse of decentralization though, is the creation of many useless Bitcoin forks with the purpose of enriching the developers.

Other than that, the decentralized nature of crypto will do fine for a couple of years from now. Just my opinion

@Hakermania@

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MenaPay - Crypto made easier than cash

Quote from: Kelvinikke on February 03, 2019, 02:46:13 AM

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" is one of the most exploited themes, often exploited by fraudsters to raise funds and disappear. it's also abused from another point of view: decentralization = freedom and centralization = evil .. I think these associations are wrong: I think the truth lies in the middle, the world needs both in the right balance

MiguelCryptoss

jr. member

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Quote from: kingpin4321 on February 03, 2019, 03:11:05 AM

Decentralization is a one great attributes of cryptocurrency in general but it's such a shame scammers has capitalized of that and turned it to there advantage there by unleashing mayhem.
But I think with sto security token offering replacing initial coin offering this would be that form of regulations we need

That is why the world remain static because there are those who are chosen to fight the good ones and turn them to be bad. STO to replace ICO is such a shame to the world of Freedom and transparency as such destroy the savior (Bitcoin)

baghdatis1990

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Miracle Tele

Decentralization is a very important aspect on the cryptocurrency market. I do not see any form of abuse in the decentralized system of cryptocurrency. Decentralization offers a system that can not be controlled by banks, governments or other institutions. The fact that people invest in ghostly ICO projects does not mean that people are abusing the decentralized system to trick people. Scammers are everywhere and in real life. We need to be very careful when we choose to invest. Guilt is with us. Nothing is easy in this world. Decentralization offers us many advantages and does not design the crypto market without decentralization.

Topic: Are we not abusing decentralization? - page 8. (Read 1942 times)