*this is a serious topic. i will not self moderate, so please do not post unless you really have something to add.
*to hate or spam or troll about money lost, please visit the appropriate page of your coin and express your feelings there
Like many others before. But especially in light of recent events with Asiacoin. It is clear to me now more then ever that free open source market can be a dangerous place to invest money in. It applys for veteran traders. But obviously it very much so applies to newcomers who heard about crypto and are venturing in a new and exciting world. To many coins are copied and pasted and have mayor flaws in bedded in their code. To many coins have hidden pre-mine or hidden blocks. (not just talking about ac here) Add a 0, alter the block explorer and voila!
It's still my opinion that anyone should be allowed to make whatever crypto they want. But I also believe that some kind of control is needed. Since there are no laws (yet) about the open source crypto's, Anything goes. For miners and investors this can be dramatic. You may argue me here that it is everyone's own personal choice. (&I would agree with you) But if we can have security measures in place for our trades on forum and our IPO's. Why not a security measure for the miners and traders?
I propose a building of a group of knowledgeable people (and will build reputation as time passes) Much like any other escrow for trading. But instead knowledgeable coders who can sift trough the source code and find any hidden blocks or agenda's or any missing links or foul play. Of course their time and knowledge also has value. So they should get paid. My thoughts here :
- If no reputation, they could work freelance, sift trough code and report to the community about the coins code. Or give the all clear. The community can then add trust and give donations for work done.
- A community or group of big investors could hire a escrow coder to do an investigation. (after good work and payment, add trust so escrow will get more work)
- A new release coin could hire a high trusted escrow coder and have some sort of 'seal of approval' and thus create instant trust (depending on the escrow coder) and add momentum to his/her coin.
Post if you have any additional thoughts. Or if you completely disagree, ofc by all means please note your opinion. *However state your arguments properly and clearly, and please stay on topic....
If your interested and would like to start as escrow coder please post...
If your interested in hiring a escrow coder, please post...