Topic: How to eradicate scam in cryptocurrency ? - page 3. (Read 1454 times)
Cryptocurrency especially the ico industry mightbnever be regulated all over the world because that will sabotage the decentralised nature and the free entry and exit in the blockchain industry. So this scams have come to stay. It is only up to every investor to be careful and do indepth research on companies or projects before investing in them so you don't end up being scammed.
We already have that facility now, it just depends whether new ICOs choose to use it.
GBX are offering "sponsored" TokenSales, where the new ICOs have a partner-sponsor vouch for them and stake a percentage of the funds to be raised as show of confidence in the project.
QUOINE/QRYPTOS are doing something similar.
GBX are offering "sponsored" TokenSales, where the new ICOs have a partner-sponsor vouch for them and stake a percentage of the funds to be raised as show of confidence in the project.
QUOINE/QRYPTOS are doing something similar.
Even if there is a site or platform that would have set of regulations and requirements or any other way to provide only a legitimized ICO to its member or users, scamers will adapt to it and find new ways to scam and get money from other people. The only way to protect your self from it is to always check for the legitimacy if every transaction that you do and if you have doubt on a project or transaction then triple check if you will get your end of the bargain.
In general, you always think before making decisions about what affects our money. There are so many ways that criminals have done and we can not anticipate them, enticing them by offering compelling rewards that make it easy for people to fall into their trap. In fact, we can see that many people have lost a lot of capital, some guy I do not remember clearly but posted on Bitcointalk lost more than 13 BTC, which is a huge capital.
investor should be able to determine the scam ones by being a wise and responsible investor study well your whitepaer is very hard to eraze scam
Hello,everyone I think there is an urgent need to end scam in cryptocurrency industry.In other to achieve this there is need to put in place a reputable site that will serve as a symbol of trust in this industry. So that any ICO that does not have the approval of this site will not be trusted. Do you think this can help to eradicate scam in cryptocurrency industry ? Or it can only bring a measure of protection to investor in the cryptocurrency ? Please let's have your opinion
This problem is very relevant now. In the market of cryptocurrencies there were many swindlers. All cryptocurrency in general suffers from it. The trust to the cryptoindustry because of it falls. Something needs to be done with it. There is a strong wish that in the future this problem has been somehow solved.
We cannot eliminate the scam and hacking in cryptocurrency. As long as there are people who do not fear to create illegal activities and violate the laws. Scam can't be cured but it can be prevented. If there is only a strong policies about scammers, they will fear to do that. One thing more, if all people are supported by their needs, criminalities will never exist.
In my opinion is a great idea but a little out of the reality, the scam is not in the currencies or even projects, the scam is in the minds of those involved and in the minds of those who take advantage of some situation. Perhaps creating concepts and mechanisms to end scam could be a breakthrough, but it will not end definitely.
As long as there are people with money that are investing in cryptocurrencies, the scammers will never stop coming up with elaborate ways to duped people out of their hard earned money. There will always be someone who will fall for these scams that are being carried out. The best thing to do would be to try and educated people on how they can identify these scams.
There will be no deal with the matter. want to report anywhere nor will anyone can help scams on crypto. Moreover, if the State also prohibits the regulation of crypto, they will increasingly not concerned with such matters. better play it safe and be wary of anything that smells of fraud.
Even if there is a site or platform that would have set of regulations and requirements or any other way to provide only a legitimized ICO to its member or users, scamers will adapt to it and find new ways to scam and get money from other people. The only way to protect your self from it is to always check for the legitimacy if every transaction that you do and if you have doubt on a project or transaction then triple check if you will get your end of the bargain.
I think this is unlikely to eradicate fraud. Because fraud as it was and will be. You do not have to rely on any sites, you just need to rely only on yourself and be very careful.
There's no way to eradicate these scams. The investors should be knowledgeable and able to determine the scam ones by being a wise and responsible investor.
In real life, take that example of there's no way to bust those scams/scammers and in crypto world which is most of the projects are anonymous so how it can be?
Just spread the word and knowledge to make everyone knowledgeable about scams.
In real life, take that example of there's no way to bust those scams/scammers and in crypto world which is most of the projects are anonymous so how it can be?
Just spread the word and knowledge to make everyone knowledgeable about scams.
I don't think that scams will ever be eradicated. Wherever there is money to be gained, then there will be scams. Regulation will help though - it is unwelcome for many reasons, but it does also have its advantages, and one reason for it is to protect innocent investors from scams.
Frequent scams is the risk for all innocent investors, so the plans for strict regulations is good. All wallet owners in trading sites should provide ID's for verification, and those managing project in cryptocurrency will be subjected to serious requirements before running the project. 
no.
what you are suggesting will create more scams but now they will all have to spend a little more money to bribe that centralized website that you just proposed to list their scam. what happens is that this website of yours that you say should be the "symbol of trust in this industry" sees they have a lot of audience and the possibility to earn a lot of money that is not easily earned through their ads so what they do is that they ask for money to list these new shitcoins on their website and cover them.
the scammers seeing that will gladly pay the fee to get their crap advertised. now you have a lot of scams + a scammer website that advertises them and a lot of people who fall for it + those that fall for it through that website.
what you are suggesting will create more scams but now they will all have to spend a little more money to bribe that centralized website that you just proposed to list their scam. what happens is that this website of yours that you say should be the "symbol of trust in this industry" sees they have a lot of audience and the possibility to earn a lot of money that is not easily earned through their ads so what they do is that they ask for money to list these new shitcoins on their website and cover them.
the scammers seeing that will gladly pay the fee to get their crap advertised. now you have a lot of scams + a scammer website that advertises them and a lot of people who fall for it + those that fall for it through that website.
Hello,everyone I think there is an urgent need to end scam in cryptocurrency industry.In other to achieve this there is need to put in place a reputable site that will serve as a symbol of trust in this industry. So that any ICO that does not have the approval of this site will not be trusted. Do you think this can help to eradicate scam in cryptocurrency industry ? Or it can only bring a measure of protection to investor in the cryptocurrency ? Please let's have your opinion
scams can't be eradicated, I appreciate your idea and I think it can help investors to avoid scams but who is the right person to do this job? are you not worried that the corrector could misuse his position?
I dont think scam projects can be eradicated but your insights on a possible solution will somehow aid in minimizing this crime. Best thing to do is to carefully examine these ICO's if we are interested to invest on them. As for me, I am not fond of investing in ICOs. I would rather wait for their coins to hit exchanges and then buy cause most of coins/tokens will fall below ICO price (even super low) when they hit exchanges.
it is impossible to end it. as long as their are evil people they will find a way to scam others. no matter how hard they will find a way and today scammer are not some fools they are smart and knowledgeable. they can always access the internet and do their evil things.
Anything related to money there is always a gap to do evil, I think only regulation can hinder scams. Should be made a container for those who want to open an Ico and in must be subject to the rules contained in the container.
I think its virtually impossible to eradicate scams in general in crypto and in ICO's.
How will a website or lets call it a screening process determine if a project is a scam
or not, nobody can predict the future.
For example there was a lot of negativity around QTUM last year on its startup and
look at it now!
Qtum as an example if it was rejected by this screening process may not exist as it
could have been deemed a scam.
How will a website or lets call it a screening process determine if a project is a scam
or not, nobody can predict the future.
For example there was a lot of negativity around QTUM last year on its startup and
look at it now!
Qtum as an example if it was rejected by this screening process may not exist as it
could have been deemed a scam.
Hello,everyone I think there is an urgent need to end scam in cryptocurrency industry.In other to achieve this there is need to put in place a reputable site that will serve as a symbol of trust in this industry. So that any ICO that does not have the approval of this site will not be trusted. Do you think this can help to eradicate scam in cryptocurrency industry ? Or it can only bring a measure of protection to investor in the cryptocurrency ? Please let's have your opinion
Just add a little protection but no more. While cryptocurrency uncontrollable nobody can win scam or eradicate them. They are always in any developed defense can find a way out or a solution to get around this. Jump to: