How to eradicate scam in cryptocurrency ? - page 4.

googs84

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Quote from: kevingreen on May 29, 2018, 01:41:38 AM

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

I am not sure if you have come across the post of Theymos himself where he asked people to create something similar in the past, a source where all the ICO's will get certification of trust. They will allow only those ICO to get listed on the forum itself. This discussion was going on for long time but eventually it disappeared as no one was able to come up with good idea or may be no one thought this thoroughly enough! But this does seem to be good idea and those who will create a system like this might just hit the jackpot business.

cryptorTUX

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Quote from: Olatunjex on May 29, 2018, 02:16:46 AM

Quote from: kevingreen on May 29, 2018, 01:41:38 AM

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

Yes, you have raised a valid point on how scam can be eradicated in cryptocurrency space, if a site is set up where investors can check if the project he/she intends to invest to is legit or scam, it will eradicate the fake project flying around at that more investors will troop in, a lot of them are afraid to invest because virtually most of the projects around are fake. I support your suggestion.

Do you understand that with this method you are not 100 percent sure even. People can fake everything. You can fake positive stats as well as negative ones to pull down the competition... Scams will never end specially here when it is so easy to generate new address for payments with no other history and you are set to find another target. Scams happen all over the place and crypto is no exception we can try to fight it but it is really hard position to be in.

1e100

newbie

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I guess it is impossible. Wherever there is money to be gained, then there will be scams - true words.

Olatunjex

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Quote from: kevingreen on May 29, 2018, 01:41:38 AM

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

Yes, this will help, you have raised a valid point on how scam can be eradicated in cryptocurrency space, if a website is set up where investors can check if the project he/she intends to invest on is legit or scam, it will eradicate the fake project flying around as a result that more investors will troop in, a lot of them are afraid to invest because virtually most of the projects around are fake. I support your suggestion.

loicuagio1979

member

Activity: 378

Merit: 14

At the moment, there's no regulation or a famous organization to do this hard job. As you can see, fraud appears even in securities market which has existed for decades though it's protected by strong legal system. As for my understanding, as there's profit there's scam and it's the truth. Also, it's natural elimination process to help the financial market to be more difficult and there's some "strong fishes" to be alive

styca

sr. member

Activity: 1078

Merit: 354

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.

kevingreen

full member

Activity: 420

Merit: 101

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

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