Facts about this "industry" - page 3.

agenlaptop

full member

Activity: 588

Merit: 100

Quote from: Ghost_1957 on May 19, 2019, 10:41:07 AM

I hope this industry has taken measures to eliminate fraudulent ico although it is very difficult but I believe there will be regulations on ico.

I am also happy that the industry can be able to eradicate fraud, because so far there have been many people who have been harmed by ico fraud so that the trust of most ico has declined among investors.

Ghost_1957

jr. member

Activity: 181

Merit: 1

I hope this industry has taken measures to eliminate fraudulent ico although it is very difficult but I believe there will be regulations on ico.

deodivine1

copper member

Activity: 657

Merit: 1

Honestly speaking, most of the points here are valid. But what we should be hampering more on are means to curb this unruly acts in crypto space. I can't even imagine my funds being locked on a centralized exchange for some cock and bull stories. For the aspect of hacking, private wallets curb that, I can't overemphasize on it. Let's look for means to make this space more conducive for everyone.

Ucy

sr. member

Activity: 2632

Merit: 403

Bisq is a Bitcoin Fiat Dex. Use responsibly

Quote from: mayax on March 19, 2018, 05:53:24 AM

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

It is interesting that With all these, there is no talk about successful hacking of any blockchain.
It is important to note that most of the problems you listed happen on Centralized platforms.

mickey_miner

sr. member

Activity: 910

Merit: 250

Proof-of-Stake Blockchain Network

And with all these disadvantages, in this market you can really earn a lot if you're clever) I think this fact covers all the flaws)

Starfranko

jr. member

Activity: 672

Merit: 1

No three is a reality to me. I have been hacked and defrauded. Hacking is piercing reality in this industry . May gmyiu not be a victim. Guard your wallet with all diligence

dizzy1996

full member

Activity: 854

Merit: 102

MoonDeFi

No one will give you guarantees in this field of activity as a couple of years ago they didn’t even take cryptocurrency seriously, but let's look at the positive aspects for several years, she achieved world-wide recognition by our society and what you say about fraudsters I agree with that but you understand that they are in every sphere, and it seems to me that exchanges of exchanges of the financial market can do this with their investors.

zhekinsp

full member

Activity: 882

Merit: 126

★777Coin.com★ Fun BTC Casino!

This is open for everyone so scammers use this opportunity to make money but the people who investing their money need to be blamed and they made this decentralized system into paradise for the scammers.

iconoclast

full member

Activity: 770

Merit: 102

Matrix Built On An Ethereum Smart Contract

Quote from: mayax on March 19, 2018, 05:53:24 AM

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

You make some valid points but that is the nature of unregulated markets. Big Brother is not here to save you from your own stupidity. You need to do your own due diligence before you invest and take personal responsibility for the custody of your coins. If you are lazy or stupid there will be people who will take advantage of you. I assume everyone is lying and only believe the things I can verify and never leave my coins on an exchange. If you don't have the private keys they are not really yours.

Herbert2020

legendary

Activity: 1946

Merit: 1137

you forgot about the centralized altcoins with 100% premine which makes their supply fake and mathematically their market cap fake, that are staying on top of the market cap list and people think they are "TOP coin" because of that. meanwhile the scammer owners of these coins are making millions by fooling them during their pump and dump schemes.

this is not much of an "industry" anymore. there is just bitcoin and a couple of altcoins that have been pushed out of top 20 coins because they are not centralized and then there are 2000+ shitcoins starting from ETH and XRP and going all the way down to CON and COZ

lyks15

full member

Activity: 546

Merit: 100

Yes that are all true. But imagine if we only see all the negative thought of something you will never aporeciate the good side on it. And if we only noticed and focus on the bad side of crypto we will never be motivated to work hard in earning crypto so it is not a proper mindset.

JuggSlash

member

Activity: 602

Merit: 10

So many people turn into bad people when knowing this cryptocurrency era. In the internet, you can do any bad thing without going to the jail. I think cryptocurrency was a problem and the first reason on why people doin' bad thing.

PuertoLibre

legendary

Activity: 1890

Merit: 1003

Quote from: mayax on March 19, 2018, 05:53:24 AM

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

You nailed the main points!
Speculators came here to make money and we all know about exchanges which don't care about the safety of the investor funds. ICOs are not safe for the heavy cash investors but IEOs are more affordable to take risky decisions. Unfortunately, we as a crypto community have no power to fix these sides of the industry.

jak3

legendary

Activity: 1274

Merit: 1004

Yeah, this is exactly what Industry is. and if you don't wanna be a part of it then just go away. we aren't kids here. this is serious stuff as money making is involved here with a lot of verity of people around us always trying to make money from any possible point. even if you think it is hard it's not its just the way they want you to see the situation.

CryptoBry

sr. member

Activity: 1008

Merit: 355

These and more are the things you get when we have an unregulated market. We hate the Wall Street because it is a corrupt though regulated platform and yet in our marketplace the same corruption is given the chance to breed and even took a new face and is now running wild and free. Why is this so? Answer: human nature. When we let humans without that sense of responsibility and not afraid that they are breaking any law...what we got is precisely the dark side of this industry. Sometimes we could not blame famous people of other industries criticizing us...they are seeing the many undesirable happening within this industry and yet for now we could not do anything about it. To be fair, corruption is happening in all industries including the many religions we have. What should we do to at least lessen these problems?

BeManga

sr. member

Activity: 962

Merit: 269

CryptoDirectories.com

Quote from: BitBustah on May 18, 2019, 10:37:55 AM

Lol, don't be naive, the same type of stuff goes on in the business world. Corporations are sketchy and do everything they can do save a buck. Fraud is rampant everywhere and people are willing to do almost anything for money. This is just the nature of greed, its not exclusive to crypto.

i agree this thing is not only happening in crypto it happen everywhere
as long as money involved few people will take advantage of you just need to be vigilant

BitBustah

hero member

Activity: 1218

Merit: 534

Lol, don't be naive, the same type of stuff goes on in the business world. Corporations are sketchy and do everything they can do save a buck. Fraud is rampant everywhere and people are willing to do almost anything for money. This is just the nature of greed, its not exclusive to crypto.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Generally you're right, altcoins are really in a sad state, they don't create anything valuable and they really don't deserve the attention they enjoy, but Bitcoin is different - it is objectively the best cryptocurrency, it is usable and it does offer a solution to some problems, and even if the wide public won't need it, there will always be people who do. Altcoins on the other hand are just copies of Bitcoin or risky and questionable experiments, and they always lack Bitcoin's safety and security, which makes them quite bad as money.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: 1Referee on May 18, 2019, 08:26:11 AM

Quote from: mk4 on May 18, 2019, 07:26:40 AM

Speed is taken care of as well. Lightning payments are instant. In fact, it's so fast, that the transaction in most cases confirms before the UI a second later displays that the transaction is confirmed. If that isn't a speedy payment then I don't know what is. Cheesy

Well, true. I just don't acknowledge it that much just yet, because I really don't think it's quite ready yet, for the masses, at least. Tongue

sehoon

full member

Activity: 840

Merit: 101

I hate these kind of people. They are trying to take over something that they really can't. Are they trying to see themselves as the boss of this industry? I hope better people could enter and regulate (if something needs to be regulated) in this industry. We don't need these kinds of people. I hope no one could hold my fund in exchange sites for no reason.

Topic: Facts about this "industry" - page 3. (Read 839 times)