Topic: SHOULDN'T THE DEVELOPMENT OF TOKENS BE MORE SUPERVISED ? - page 3. (Read 372 times)
If crypto gets supervised one way or the other then it's over, we won't be ever free from the power of centralisation, every thing will be controlled by the government is that what you want? We adopters of this technology are the ones to try as much as possible to always avoid scam projects, this is the least we can do
speaking of supervised, nothing seems better than the government. Unfortunately, crypto and government are quite different which makes that very difficult to do. Well, I agree that at the moment it looks like the development of new projects should be more closely watched and monitored, but the question is that no one is currently officially overseeing the development of new cryptos.
however, personally, I tend to have more personal standards in choosing new projects than dealing with oversight, such as team clarity and so on. however, when the identity of the team is known, their location, etc., it will increase investor confidence rather than having no team information at all. well, so far, things like this have been asked and wanted a lot, however, it seems that there is still no guaranteed solution to the problem of this new project.
however, personally, I tend to have more personal standards in choosing new projects than dealing with oversight, such as team clarity and so on. however, when the identity of the team is known, their location, etc., it will increase investor confidence rather than having no team information at all. well, so far, things like this have been asked and wanted a lot, however, it seems that there is still no guaranteed solution to the problem of this new project.
You can't have both accessibility and zero regulation.
If you want the masses and the unbanked to access crypto and DeFi, then you just have to forego a lot of the protection that the regulators offer.
Otherwise, you'd be taking a step backwards in terms of the ease of people getting into the space without KYC/AML tying them up unnecessarily.
If you do your due diligence, none of this should even be an issue. Scams are so easy to spot.
If you want the masses and the unbanked to access crypto and DeFi, then you just have to forego a lot of the protection that the regulators offer.
Otherwise, you'd be taking a step backwards in terms of the ease of people getting into the space without KYC/AML tying them up unnecessarily.
If you do your due diligence, none of this should even be an issue. Scams are so easy to spot.
Impossible.
You are suggesting to confiscate the decentralised operations and still use it as decentralised asset.
You can’t control anything that is being made on the blockchain or crypto environment more precisely. These projects and involved teams might control the process, structure and flow of the project as whole but unfortunately we can’t control them on how it should be done.
That’s the whole point of crypto projects. They are free, publicly accessible to develop and manage.
You are suggesting to confiscate the decentralised operations and still use it as decentralised asset.
You can’t control anything that is being made on the blockchain or crypto environment more precisely. These projects and involved teams might control the process, structure and flow of the project as whole but unfortunately we can’t control them on how it should be done.
That’s the whole point of crypto projects. They are free, publicly accessible to develop and manage.
at the end of the day, it is you as a user have the final say on where to invest your funds. as it is not possible for an entity to look over the alt market, it is your job to look over your investments. this is the type of market where everyone can create their own project and leave whenever they want to. as most are anonymous projects it would be your prerogative whether to invest or not on a specific project and you can't blame anyone also whatever the results here
These days, the number of scam projects in the cryptocurrency space is really getting alarming.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
It's been alarming ever since the start and hype of ICO, the losses are amounting to billions of dollars, creating a coin and getting it hype and scamming investors is a lucrative venture for scammers, the rule is if you don't want to get scammed don't get involved or learn how to trace a good project it's impossible to monitor and regulate these new projects, like in this forum scam is not moderated, it's always investing at your own risk, the key here is helping one another to warn people if you have pieces of evidence that a project is a scam.
That's not easy to restrict the blockchain like that, so many people can't even accept it. this has even been implemented by some blockchain in the past but this restriction gives limitations for people to use it for the private reason like issuing a token for their store and many more. The development can be more transparent when you're aware of it through knowing the result from the audit and many more. These days people know that if they can keep their eyes into the project through various things. Audit has become a new standard when you are issuing a new token to make sure that there will be no a critical code in your smartcontract.
Being transparent was so good but about the restriction and yes so many people didn't even like this and this is also decreasing the demand from the crypto project itself.
Being transparent was so good but about the restriction and yes so many people didn't even like this and this is also decreasing the demand from the crypto project itself.
Impossible.
You are suggesting to confiscate the decentralised operations and still use it as decentralised asset.
You can’t control anything that is being made on the blockchain or crypto environment more precisely. These projects and involved teams might control the process, structure and flow of the project as whole but unfortunately we can’t control them on how it should be done.
That’s the whole point of crypto projects. They are free, publicly accessible to develop and manage.
You are suggesting to confiscate the decentralised operations and still use it as decentralised asset.
You can’t control anything that is being made on the blockchain or crypto environment more precisely. These projects and involved teams might control the process, structure and flow of the project as whole but unfortunately we can’t control them on how it should be done.
That’s the whole point of crypto projects. They are free, publicly accessible to develop and manage.
These days, the number of scam projects in the cryptocurrency space is really getting alarming.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
The short answer to your question is no, the market of cryptocurrencies is for the most part open source and decentralized, how exactly are you going to supervise that? You will need a centralized authority telling you which project is good and which is not, but it is not that something we were trying to get away from on the first place?It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
In my opinion you are making a huge mistake, it is true the number of scams is huge in the market but instead of accepting the fact you are your own bank now you want to delegate that power away, and if that is what you want then stick to fiat and leave this market alone since this market is not going to change just to accommodate people with those kind of views about it.
These days, the number of scam projects in the cryptocurrency space is really getting alarming.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
I think what you meant to say is "regulated" instead of supervised.
It0s an oximoron in crypto space, as this space seeks to be detached from standard regulation, yet the same detachment is a breeding grounds for scams and moneygrabs
These days, the number of scam projects in the cryptocurrency space is really getting alarming.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
Decentralization let the people to create whatever app they want and there is no such thing called auditing or monitoring in cryptocurrency blockchain, you should take the responsibility of analysing before investing your money and I will say the chances of even a legitimate project to be successful in 2022 is rare so I will go for the existing coins not the new coins because its available for cheaper and someone claims it as next Bitcoin. It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
anyone can create a product, good, service, token.. nothing should stop that and hard to manage/moderate..
however when that product/token is then advertised for sell to the general public. then that should be moderated/supervised whereby law enforcement should get involved in stopping it, should users/customers get scammed by it
but with that, if you are producing something for personal use and doing it in private where the general public are not harmed.. then aswell as not being easy to moderate/enforce. it should be upto those in private to sort each other out
but the general rule is. if cant slap someone with a wet fish if they wrong you. if you cant file a lawsuit against them. dont just hand value over to strangers, even if said strangers tell you a good story
however when that product/token is then advertised for sell to the general public. then that should be moderated/supervised whereby law enforcement should get involved in stopping it, should users/customers get scammed by it
but with that, if you are producing something for personal use and doing it in private where the general public are not harmed.. then aswell as not being easy to moderate/enforce. it should be upto those in private to sort each other out
but the general rule is. if cant slap someone with a wet fish if they wrong you. if you cant file a lawsuit against them. dont just hand value over to strangers, even if said strangers tell you a good story
I don't know what to believe any more, if we allow crypto projects to be supervised by the law or government scammers will reduce and investors will know exactly where to put their money but the government are humans too and they can break the law easily, we will be under their power which to me isn't good, I think we should just leave things the way they are right now
Everyone is free to use blockchain as there's no requirement really needed for its deployment but, as long as you've got the budget on who's going to do it, everyone can do it.
Before it wasn't like this that we're looking for regulation and we've all liked decentralization which starts from bitcoin. It's all behind the blockchain technology that's being adopted by the newer projects. Just like in the proliferation of scams worldwide, we just have to be careful and vigilant so that we won't be a victim.
Before it wasn't like this that we're looking for regulation and we've all liked decentralization which starts from bitcoin. It's all behind the blockchain technology that's being adopted by the newer projects. Just like in the proliferation of scams worldwide, we just have to be careful and vigilant so that we won't be a victim.
These days, the number of scam projects in the cryptocurrency space is really getting alarming.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
What you are asking for is centralization. And with centralization we could just use databases, and whole point of crypto is being permissionless. With freedom comes scams, and criminals obviously will use this space, for many reasons. Mainly to exploit greed of people.
You may be able to create a DAO of sorts that could try to maybe govern it, but I mean really due to the nature of blockchain anyone can deploy a smart contract and create a liquidity pool to give it a value on the DEXs.
Having some sort of governance is for the best, but it should be the community as a whole that can do it.
Having some sort of governance is for the best, but it should be the community as a whole that can do it.
These days, the number of scam projects in the cryptocurrency space is really getting alarming.
Not just these days but even before. It's alarming not because they are growing in numbers but still, new people are getting scammed. It's not a reason that they are newbies but they are just not taking seriously their investment and will just invest anywhere no matter what as long as there's a speculation that those projects will have their moon price someday.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
The question is then, who will do this?We know that everyone can create their project in blockchain system, none control blockchain, and we don't even know who use the blockchain technology to create legit or scam projects.
Scam projects will never end, like this. That is why we cannot lay on that kind of power to stop scam projects. What we can do is by making ourselves aware of the new projects that are probably scams, hype projects only, shit projects, and also legit projects. We should be smarter everyday because there will be always new projects upcoming every day and we cannot stop them.
As far as i know that DOT is the only platform that is aware about this problem and that's why DOT was implementing verification for anyone who wanna issue their assets in the DOT blockchain. This may become a very strict restriction but it can also make another problem just like the platforms will have less demand on it. People should have done their own research but again when it comes to the shit token and there will always be shitcoin speculators that are making the scammers wanna try to make more and more shit tokens. These speculators are the main problem.
Should KYC for tokenization became the new standard in asset creation?
Should KYC for tokenization became the new standard in asset creation?
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
But it is that easy if you have knowledge in coding. That's what smart contracts are for.Of course, if you end up actually believing the project then you will actually get it audited by CertiK and in that situation if you are not a serious project you will get screwed and nobody will invest into you when they find out how you did it. Long story short starting a new project to make a few thousand dollars is easy, starting a real project is not that easy at all.
The only way a project can stay fully decentralized this days is if the team remain unknown just like BTC, government wants to be everywhere including the decentralized world too so many projects calming to be decentralized aren't really decentralized for they have made themselves known to the world.
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