Topic: encourage others to crypto - page 47. (Read 8633 times)

I won't go preaching or soliciting about the cryptos, but I will answer their questions, if any. I can explain the technology and how the market works, and then they should decide for themselves if to get engaged or not. I think we should encourage by example and our improved lifestyle.

Open Zeppelin USD Audit should convince anyibe to dump fiat for crypto
Critical Severity
Centralized issuance, requires trust in US government
The USD monetary base is tied to the centralized policies of the Federal Reserve team. In contrast with most other digital assets, where supply is algorithmically pre-determined, the USD token’s supply is subject to central planning and manual minting by the team. This means the USD tokens are produced on an unpredictable pattern of increasing inflation.
Consider removing the Federal Reserve’s ability to mint new USD tokens at discretion.
Not backed by any physical asset
USD token is what is called a “fiat” currency. Fiat money is an intrinsically worthless object, that is deemed to be money by law (in this case, US law). This means that users of USD token are required to trust the US government to exist and operate correctly in order to use it. A black-swan scenario where the US government ceases to exist and enforce the USD token’s value would cause a global financial crisis.
Consider reverting to the gold standard and having each USD token represent a fixed amount of gold.
High Severity
Heavily depreciating asset
The USD token has been alarmingly depreciating in value over the past 100+ years. $1 in 1860 had the same purchasing power as $28.53 in 2018. This means someone hiding $1000 in 1860 would now have the equivalent of only $35.05 at their time. This heavily undermines the token’s usefulness, and damages trust from its users.

Consider adopting a stabler monetary policy.
High energy usage and environmental impact
The token’s physical implementation requires huge amounts of energy for printing, counterfeit management, as well as transportation. Consider switching to a crypto-based currency to reduce environmental impact.
Medium Severity
Undetermined confirmation time for transactions
Electronic transactions of USD may be rolled back by a centralized agency at the request of the payer, at an arbitrary time after being executed (sometimes even months after). Compared to the average confirmation time in the order of minutes in all major currencies, this time is unacceptable for most use cases, as merchants cannot reliably count on the payment received for a provided service or good.
Consider settling transactions after a reasonable period of time, or switching to another currency altogether for managing payments.
Unappealing design
Consider redesigning the USD token branding for a more modern look and feel.


Highly susceptible to theft
Physical US Dollar bills are highly susceptible to theft, especially through the “pickpocketing” attack vector. Any malicious user with enough proficiency in this kind of attack can remove an arbitrary amount of US dollars from an unsuspecting user, by substracting their entire wallet.
Consider adding some form of password-based protection to US Dollar wallets.
Low Severity
Unsuited for global transfers
US dollars can be transferred in either physical or electronic form. Physical form, while convenient for exchanging small amounts with neighbouring parties (note that this use case was already covered by barter), is extremely cumbersome for long distance transfers, requiring the usage of trusted third party services. Furthermore, these third parties employ transportation methods to provide this service, which consume extremely high levels of energy, compared to those required for a simple cryptocurrency transfer.
On the other hand, in electronic form, US dollar transfers or payments require the approval of several intermediate agencies, which may demand arbitrary documentation to authorize each individual step.
Consider setting up local exchanges from USD to cryptocurrencies, to use an efficient method for global transfers.
Notes & Additional Information
We found it really hard to find up to date documentation on this project. Please improve documentation to help users and future auditors understand and evaluate the project.
Even though the token is burnable, we found the process to be rather anti-ecological. Consider minting new tokens with more eco-friendly materials.
Conclusion
Two critical severity and two high severity issues were found and explained, along with recommendations on how to fix them. Some changes were proposed to follow best practices and reduce potential attack surface.

I can give them info regarding crypto and blockchain yet to encourage them to invest maybe no. It's up to them if they want to invest or not

I can tell you about technology, but I do not recommend investing in crypto-currencies to my friends and acquaintances, everyone should decide for themselves whether to do it

The world of crypto is the world that I do, I can not pursue a thing without much profit. I'm 99% sure that the person will be interested in the world of crypto currency. However, other things may happen. When the person is not interested in investing in crypto currency then I will show evidence of my friends success

Encouraging others to cryptocurrency will benefit both parties since crypto will have more users to entertain and the users will benefit from the knowledge and profits that they will have.

I always tell people who are beginning to be interested in cryptocurrencies about all their pros and cons, but it is difficult for me to communicate with them to people who are obviously negative and extremely skeptical about cryptocurrencies.

Well it rely on to kind of individual empower and offer the great open door in the crytoland in light of the fact that a few people outlook about in crypto can street of trick and shut it mind as scam,,so that is difficult to inform him concerning the great side of decentarlized cash so much better select the general population who need to liberal about the other great opportunity.

i will encourage my classmate friends and the surrounding to invest crypto and i will explain how to make crypto without leave money you made is too understand and knowledge in this forum.

I always do, but I make sure that they will understand the risk behind the volatility of crypto. I made money from different aspects of crypto from trading, holding, bounties and airdrops and I'm explaining and teaching then this aspects according to their risk appetite. Because sharing is caring.

I stopped doing that because often people are just unkind and not grateful for that, they want to have very fast and easy profit, and when they face the reality, usually they get frustrated.

To have blockchain and crypto to reach to global masses, this is the least we can do. I think we need to talk about it more frequently on our social networks and talk to our friends about it. Even if we'll able to convey the slightest of benefits to few of our circle members, we'll win

I have encouraged people who I know. Because now is the best time to invest. It will give big profit when it will have reached high price

Well it depend upon to type of person encourage and share the good opportunity in the crytoland because some people mindset about in crypto is able to road of  scam and closed it mind as scam,,so that is hard to tell him about the good side of decentarlized money so that much better select the people who want to open minded about the other good opportunity.

I will share what I think is good. I've invested in the encryption market for over a year, and I get some money. I will introduce the encryption market to my family and friends and encourage them to join. So they can feel as well as I feel

we should not force other to invest or force here in crypto what are some of the best that we can be is let them see how great is this crypto for real.

as different users of crypto token has with personal customs of technical preference the use to distincts as appealing outmost with priors as decision to work on occupation to manage of tasks on finance with the use of token on collaterally relation with parties.

I concur with you based on empowering companions and other individuals to the crypto world; however truth remains that individuals need to make it speedy and need to wind up wealthy in a brief timeframe

I want to invite people around me to invest in Cryptocurrency. But it takes a serious effort, we have to teach them about Cryptocurrency. making them want and interested in Cryptocurrency. One of them is by showing successful investment returns.

To be honest with you I prepared not to introduce to other because I want to let them know through my life changing. Helping the poor and unfortunate children. People wants evidence than words.