Crypto Scams are a global issue - page 18.

ufaiz50

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

If with a lot of company compliance or regulation or anything so that fraud can disappear I agree, but on the other hand whether regulation and the amount of company compliance will not affect crypto users themselves, I mean crypto can be used freely without identity even though some sites now apply KYC while freedom without intermediaries is the advantage of crypto. Crypto is still in the development stage and many blockchain developers are out there, this problem is very difficult without sacrificing excellence from crypto.

darklus123

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This is really hard to address and I think more than any problem that crypto is currently facing this can be the hardest thing to fix. That is the main reason why we should be able to established good laws with regards to this.

A law that a government can only intefer certain areas of crypto that can help us fix the issue

Netnox

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Quote from: Oceat on May 08, 2019, 05:25:49 PM

Quote from: dark1234 on May 06, 2019, 09:22:33 PM

Scammers enter empty space which is a weakness of cryptocurrency ...
and being careful is an absolute thing
and possible Scammers in cryptocurrency due to lack of government support retention in all countries of the world and many newcomers who act carelessly in dealing with transaction cryptocurrency and this is the empty space used by Scammers

Even if there is a government who protect our money, people nowadays will always find a way to scam those who lack of knowledge. If you ever handed a cryptocurrency you should always think your security of it first because you are now the government of your own investment. Stop defending the government because you already know what happens when you leave your money to them.

When you invest in a completely unregulated market, such as ICOs, you need to understand that if something goes wrong, then there will be no one to defend you. If you stay aware and alert, then the chances are that few people may scam you with the cryptos. Yes... you are right when you say that a lot of noobs are getting scammed here. But don't you think that the noobs should first study something and analyse something carefully before investing their hard earned money?

The Cryptologist

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

I think it's unavoidable but can be lessen if the government will kindly cooperate with us. It is not just crypto that can be used as a scam but it is hot right now and scammers are deceiving others by showing the growth of this market but they are not familiar with the technical aspect so our only way to stop them is to educate on the social media or by personal.

Oceat

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Quote from: dark1234 on May 06, 2019, 09:22:33 PM

Scammers enter empty space which is a weakness of cryptocurrency ...
and being careful is an absolute thing
and possible Scammers in cryptocurrency due to lack of government support retention in all countries of the world and many newcomers who act carelessly in dealing with transaction cryptocurrency and this is the empty space used by Scammers

Even if there is a government who protect our money, people nowadays will always find a way to scam those who lack of knowledge. If you ever handed a cryptocurrency you should always think your security of it first because you are now the government of your own investment. Stop defending the government because you already know what happens when you leave your money to them.

hahay

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That is why trusted escrow is needed to prevent more scammers, perhaps by having many companies that provide reliable escrow, transactions between countries will be safe and there will be no high anxiety. We are well aware of the very high scammers on the internet and for those who are careless from every transaction that will be made, chances are they will get scammed, one of which must be emphasized is a good awareness and understanding.

Oilacris

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Quote from: 7788bitcoin on May 08, 2019, 04:25:35 PM

Quote from: akeegan on May 02, 2019, 06:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Scam is a global issue for a very long time, the majority of the scams takes place online as internet does not have any boundaries and the scammers found a way into the new market and it is not a one off event, scammers will find any opportunity to fool innocent users and awareness is the only option to counter that, most of the victims gets attracted to the high returns and end up loosing their earnings and if they understand that money cannot be attained that easily, the entire scam industry will die down.

Scams do exist a long time as long the market or things do involves money and this market is really a good candidate yet we are talking millions and billions here.

This isn't only applicable on crypto market as well on traditional market.Scams would exist yet there are really people who do easily believe on easy money and
hackers do able to bypass out security that's why I can completely say that this wont die down.It can be reduced but wont die completely.

7788bitcoin

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Scam is a global issue for a very long time, the majority of the scams takes place online as internet does not have any boundaries and the scammers found a way into the new market and it is not a one off event, scammers will find any opportunity to fool innocent users and awareness is the only option to counter that, most of the victims gets attracted to the high returns and end up loosing their earnings and if they understand that money cannot be attained that easily, the entire scam industry will die down.

DeadCoin

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Any activity causing financial debts, will cause impact on global growth. The act may be so small but when looking at it collecting complete acts that happened worldwide, would remain as an impact to global financial growth.

South Park

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Quote from: Moshaid on May 07, 2019, 03:40:25 AM

Scam has been one of the traditional issues that has been affecting most people beyond the cryptocurrency sector, this will surely be a big issue and their won't be anything that can be done to it except if the governments legalize it. I am a patriot in seeing cryptocurrency being used globally but I believe more action through the government will strive things up for the betterment of crypto ecosystem.

Scams happen everywhere but in this market scams can be even more damaging because when you are scammed with fiat there is a small hope that some of the money can be recovered but when you lose your money in crypto the chances of getting it back are very close to zero, many are looking for a solution to all of this but in my opinion they will fail in their efforts since there is no way to lower the amount of scams in the market without relying in a centralized solution.

shesheboy

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Quote from: yusupjatigumilar on May 08, 2019, 01:30:11 AM

this has actually been the first time crypto currencies have been born, but at that time the number was still relatively small because at that time the price of crypto currencies was so cheap that few people were interested in having it, as the crypto currency grew until now triggered some people cheat to get a lot of money by fraudulently using crypto currencies. This of course also influences public trust which automatically also affects the price of the crypto currency itself.

But even before where cryptos are not yet popular , the first crypto which was bitcoin is already being used on blackmarkets like deepweb/darknet but eventually when people are starting to recognize crypto , the use of cryptos are starting to change ( from bad to good ) but we cannot deny the fact that there are still crypto user who use thier crypto for shady means .

yusupjatigumilar

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this has actually been the first time crypto currencies have been born, but at that time the number was still relatively small because at that time the price of crypto currencies was so cheap that few people were interested in having it, as the crypto currency grew until now triggered some people cheat to get a lot of money by fraudulently using crypto currencies. This of course also influences public trust which automatically also affects the price of the crypto currency itself.

Botnake

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Quote from: spike420211 on May 07, 2019, 03:14:30 PM

Quote from: usorin on May 07, 2019, 11:57:08 AM

The solution for this problem is reglementation. Without them there is no possibility to complain at police regarding stealing from the wallet/exchange/scams and not only.

This is a cryptocurrency, it is difficult to bring regulation here, it will definitely not work out quickly. In this case, everything will depend on the regulator and its legitimacy.

With the resources and the power of the government, regulating crypto is not difficult.
True, it might need more time as they have to study and evaluate the market first in order to device a good regulation that will benefit all of us.
I'm expecting a regulation in the future as it's really needed, keep the faith, crypto will improve.

omonuyak

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Quote from: akeegan on May 02, 2019, 06:39:39 PM

Now that crypto is allowing us to transact globally I am questioning if we are going to start to see more scams happen between countries. Do we need more compliance companies to step in to help major scams and illegal trafficking?

Full report: https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

The p2p system is decentralized and if it has global benefits it most have global problems. The issues of scam is an epidemic that the cryptocurrency community must handle if we must move forward. I do believe that we are going to have more coins and projects coming up that are going to handle security issues.

spike420211

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Quote from: usorin on May 07, 2019, 11:57:08 AM

The solution for this problem is reglementation. Without them there is no possibility to complain at police regarding stealing from the wallet/exchange/scams and not only.

This is a cryptocurrency, it is difficult to bring regulation here, it will definitely not work out quickly. In this case, everything will depend on the regulator and its legitimacy.

Semosuchi Tesongrato

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Everywhere there is a chance to earn something, you can bet there will'be scams...

playboy654

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Yes the effects are happening for your long time when the Crypto had to be scams in sometimes because everything will affect the development of economy so this type of things will give the thing for the investors to get back that's why I will be a scam affect everything.

usorin

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The solution for this problem is reglementation. Without them there is no possibility to complain at police regarding stealing from the wallet/exchange/scams and not only.

tyz

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Crypto scams are just as much a problem as fiat scams. The thing is, such scams are oftentimes very amateurish and you would easily expose them if you would just do a little research and follow good sense. But only very few do that if they are promised an incredible return on their investment. Then most people's brains stop. Greed sets in and possible premonitions and inconsistencies are deliberately faded out. Whoever falls for such scam under such conditions is to blame himself. In reality, there are only very few very good scams.

uneng

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The lack of laws and regulations increase the risk of scams in crypto currency environment, that is a negative point of decentralization. As the adoption increases, there are serious chances the scams will also increase, becoming a global issue.
On the other hand governments put regulations and create new rules to determine how people will have to use crypto currency, it can help to decrease scams, however it also weak the individual liberties of crypto users. There must be a serious conversation to choose what option is better: more regulations with less scams, or more freedom with more scams.

Topic: Crypto Scams are a global issue - page 18. (Read 4092 times)