The crypto space must be sanitized - page 3.

auntyjmary

jr. member

Activity: 368

Merit: 2

Quote from: VukotLy on March 20, 2019, 05:05:51 PM

It is necessary to clean the market from bad coins for nothing, because they prevent many players from focusing on making profits.
Newbies without experience can even invest in them and lose money in vain.

The cryptosphere does not have a central regulatory body hence it is not easy for clear systems to be put in place to control activities. Due to this peculiar problem, it is up to crypto enthusiasts and investors to be circumspect in whatever project they want to participate in.

smyslov

sr. member

Activity: 2002

Merit: 269

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

I prefer trusting ICOETHICS list than ICOBENCH list, but for now this is the only resources we have to pinpoint trusted sites, I do not and never trust these ICO rating sites, they don't live up to their name, they charge payment to get a premium listing without doing a research if they are listing scam ICO, all they care is money.

starblocks

hero member

Activity: 1344

Merit: 502

The cryptocurrency crowd funding industry has gained a tarnished reputation over the past couple of years due to an abundant amount of scams, ponzi schemes, and projects that don't deliver on their promises and a lot of this has to do with a lack of awareness so it's very important for investors to conduct their own thorough research and due diligence with each offering whether it be an ICO, IEO or STO and not just rely on benchmarks, hype or the latest launchpad to ensure the investment is worthwhile

OluwaTosin10

jr. member

Activity: 546

Merit: 4

A decentralized ecosystem means anyone can choose what they prefer
Which is why any one can wake up today and create a new token

It is up to us to choose which and deuce who to invest upon

mv1986

legendary

Activity: 2058

Merit: 1166

Quote from: MakeMoneyBtc on March 20, 2019, 07:50:10 PM

You can't stop scammers. Once they find a way to steal money out of people's pockets they will exploit that area until people are going to realize how stupid they are and stop offer them money. The problem is not ICOs who fail, because those at least try something and don't succeed. The problem is that there are people who open ICOs with the specific purpose of earning money from it and don't bring any contributions to the world.

That are mostly ICOs where the team is not known or where it looks fishy. Just don't take the risk and transfer any money to them.

MakeMoneyBtc

full member

Activity: 1092

Merit: 117

You can't stop scammers. Once they find a way to steal money out of people's pockets they will exploit that area until people are going to realize how stupid they are and stop offer them money. The problem is not ICOs who fail, because those at least try something and don't succeed. The problem is that there are people who open ICOs with the specific purpose of earning money from it and don't bring any contributions to the world.

powerman24

member

Activity: 448

Merit: 12

ICOs need to regain the confidence of the investors as many of them lost their faith in them. Like the idea of IEOs where the exchanges are supervising the development and the progress. Such way the listing is also insured.

Serve20

jr. member

Activity: 154

Merit: 1

This is a welcome development. I think doing due diligence to filter out quality and valuable projects out of the thousands out there is very important for the industry. And I think can only be done if we can have a group of experts who can do it for the community without getting inducement from project creators

qtronix

member

Activity: 596

Merit: 10

It would be very convenient for us. It is high time to introduce some kind of a similar system, because now the trust in the ICO has significantly decreased.

Mmesooma1

copper member

Activity: 150

Merit: 0

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

I agree with you. I want a system where by investors will have or be assured that the basic profile of a coins developer are known such that if there is any fraudulent act from them, they can be traced and jailed

Denton

full member

Activity: 798

Merit: 100

It is difficult to have a body that enjoys unconditional trust. There is still a chance that some fraudulent project can negotiate with these body and eventually deceive gullible investors.

Invigorated

jr. member

Activity: 266

Merit: 2

I have been a strong advocate of crypto regulations. It has become completely necessary and the time to enforce this is now! Several players in the industry have capitalize on the fact that the industry is unregulated to commit several atrocities and crimes ranging from fraud to money laundering. This has become a major occurrence and will continue to be unless something is done and done really fast.

mv1986

legendary

Activity: 2058

Merit: 1166

Quote from: daarul50 on March 20, 2019, 05:17:16 PM

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

Good idea. But from the above idea there will be a question like this "who will be the voluntary party?". What is the government? If it's a government, it's impossible because the decentralization system is against it, or is the party in question a developer? That's not possible because the developer doesn't have integrity for that. Sometimes a good idea is not necessarily the right solution to overcome the problem.

daarul50 is right because as soon as you designate a central body to take responsibility for this, you are making the same mistake again. Once central party with the power to decide what is right and what is wrong.

CaVO32

full member

Activity: 1848

Merit: 158

Quote from: daarul50 on March 20, 2019, 05:17:16 PM

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

Good idea. But from the above idea there will be a question like this "who will be the voluntary party?". What is the government? If it's a government, it's impossible because the decentralization system is against it, or is the party in question a developer? That's not possible because the developer doesn't have integrity for that. Sometimes a good idea is not necessarily the right solution to overcome the problem.

OP's suggestion is not feasible at this moment. creating a "trusted body" to govern these ICOs is not the solution as the projects are sprouting every single day. who will do such intensive work like this? and who will choose these individuals to qualify for this special body? what we can do right now is to be vigilant with your investments. do your own research and meticulously study the project that you want to invest with. it is all your responsibility to do these things. no one will answer your mistakes but you.

daarul50

legendary

Activity: 1596

Merit: 1034

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

Good idea. But from the above idea there will be a question like this "who will be the voluntary party?". What is the government? If it's a government, it's impossible because the decentralization system is against it, or is the party in question a developer? That's not possible because the developer doesn't have integrity for that. Sometimes a good idea is not necessarily the right solution to overcome the problem.

VukotLy

jr. member

Activity: 112

Merit: 1

FUTURE OF SECURITY TOKENS

It is necessary to clean the market from bad coins for nothing, because they prevent many players from focusing on making profits.
Newbies without experience can even invest in them and lose money in vain.

charlop24

copper member

Activity: 560

Merit: 2

I'm in full support of the sanitation which should be carried out in the crypto sphere. They've been so many issues of scam and this was spearhead by developers who rely on the ignorance of the masses and steal from their innocent victims .

ninja811

jr. member

Activity: 266

Merit: 1

CurioInvest [IEO Live]

Probably this is an absolutely correct statement, except for the fact that in any system, as well as in the cryptocurrency market, there should be promising and very progressive elements and elements that somehow ensure its existence, but which are essentially useless separately.
So I think that there will always be crap projects and coins.
Our task is to distinguish them from promising.

mrdeposit

hero member

Activity: 1358

Merit: 509

Quote from: Mrcharles on March 20, 2019, 03:10:17 PM

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

Your suggestion is quite brilliant, owing to the fact that participants have lost their trust in the cryptocurrency space and ICO's are dominated by Scammer and unscrupulous individuals. In my opinion, there should be some extent of regulation in ICO's most especially to curb the influence of scammers and restore sanity to the cryptocurrency space.

Consider what happens in the crypto world as an experience. These ones will change over time and will replace with the different activities. Just try not to be deceived.

Mrcharles

copper member

Activity: 336

Merit: 5

Quote from: heritage35 on September 19, 2018, 01:16:08 PM

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

Your suggestion is quite brilliant, owing to the fact that participants have lost their trust in the cryptocurrency space and ICO's are dominated by Scammer and unscrupulous individuals. In my opinion, there should be some extent of regulation in ICO's most especially to curb the influence of scammers and restore sanity to the cryptocurrency space.

Topic: The crypto space must be sanitized - page 3. (Read 740 times)