Topic: The perfect solution to scam in the crypto space - page 5. (Read 1105 times)
the situation that often occurs is that there are many cases of an ICO project which ultimately are just a fraud so that it is very detrimental to investors who have invested in them, I think the ICO rules must be in the future so that they can be better and no scam projects which is detrimental, perhaps in the future the government in all countries must immediately take part in this matter so that every ICO project and investor has a clear legal umbrella.
This would be a great solution for overcoming hacking that has happened a lot. Regulation of the ICO project should be improved and able to protect investors. Audit with routine and audit results must be informed immediately. So that people will choose a new ICO project can be helped and not stuck in a fake project.
The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
What I know is that these two things have been implemented a year ago and until now we know that this doesn't change anything. In fact, fraud has often entered crypto news but the perpetrators have not been arrested / processed by the law.
In sometimes if we follow any other kind of tips also to reduce the scam that you are involved in is really difficult so once you have to find the solution you need to be other in all the situation then only it is possible to handle some of the scams easily.
Responding to scams and hackers, both are very difficult to avoid.
Who determines ICO regulation? Who guarantees that the ICO will fulfill the regulation? Because the crypto world itself is decentralized. so it's hard to make certain regulations to avoid scams. It is possible if we are the ones who must set the rules when we want to participate in an ICO. It could be by getting to know their member team.
SEC will do the job but it's going to be tough for them if these bunch of ICOs keep on coming to them asking for that certain service that they have to validate that ICO. Setting your own rules would be easier but still how can you be sure that the ICO you're investing with your money is going to be a good one? specially in these days that most of the ICOs now are bunch of scammers and you have trust issues with them since the growth of ico scams came in. Who determines ICO regulation? Who guarantees that the ICO will fulfill the regulation? Because the crypto world itself is decentralized. so it's hard to make certain regulations to avoid scams. It is possible if we are the ones who must set the rules when we want to participate in an ICO. It could be by getting to know their member team.
The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
These ideas are grate.. but I don't think there will ever be a lasting solution to scams and hacks in the crypto space1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
So we also need an institution that regulates everything because crypto is a big investment so it requires large institutions to regulate everything, so that with the existence of these institutions, not every project will be built because it has to fulfill various requirements to be able to sell ICO.
Responding to scams and hackers, both are very difficult to avoid.
Who determines ICO regulation? Who guarantees that the ICO will fulfill the regulation? Because the crypto world itself is decentralized. so it's hard to make certain regulations to avoid scams. It is possible if we are the ones who must set the rules when we want to participate in an ICO. It could be by getting to know their member team.
Who determines ICO regulation? Who guarantees that the ICO will fulfill the regulation? Because the crypto world itself is decentralized. so it's hard to make certain regulations to avoid scams. It is possible if we are the ones who must set the rules when we want to participate in an ICO. It could be by getting to know their member team.
That's brilliant and wise idea but I don't think it could literally destroy and stop scams and fraud around the crypto community. Scamming varies in many types and scammers could attack exchanges or even users personally. The best thing that we can do is to start the awareness within ourselves.
I think that method also does not stop fraudsters even though this method is very good but in my opinion if it is not captured by fraudsters it will continue to repeat it. Yes, as you say that fraudsters are different and have thousands of ways to benefit from investor money, one of the most important things is that we have tried the best and the rest we pray that the fraudsters get the same punishment. The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
These ideas are grate.. but I don't think there will ever be a lasting solution to scams and hacks in the crypto space1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
These ideas are grate.. but I don't think there will ever be a lasting solution to scams and hacks in the crypto space 1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
Indeed, fraud will always be observed by everyone because most people who are in the crypto room are still vulnerable to fraud but can be taught because maybe they are new to this because they want to have extraordinary coins, I will wait for the process to happen and it is indeed too late to regulate everything where there are so many ICOs who are ready to go to the market or even at the development stage, but ICO arrangements must be better to prove the authenticity of the projects they have developed in terms of development teams and clear road maps.
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
Has anyone implemented this for the ICO? It seems that there are still many ICOs that do not implement this. Because people berestestasi see how good the project going forward. If it's really good, people will invest in the project. 
That's brilliant and wise idea but I don't think it could literally destroy and stop scams and fraud around the crypto community. Scamming varies in many types and scammers could attack exchanges or even users personally. The best thing that we can do is to start the awareness within ourselves.
The rate of scam and hacks in the cryptocurrency market keeps growing at an alarming rate. In my opinion there best solution to these crimes in the cryptocurrency market are
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
1 ICO regulations: if there is ico regulations then investors should only invest in ICOs that are certified and meets the required standards. This will reduce the scam rates as fake ICOs will not be able to raise money for investors anymore
2 Smart contract Auditing: I think in other for coins and exchanges to avoid hacks and attacks they should constantly audit their smart contracts at regular intervals (like every 2 weeks or every month). Doing this will help them detect the bugs and loop holes in their smart contracts and correct it before it is used by hackers.
I have a third rule - do not invest in new projects that are not yet traded on any of the exchanges. It is this rule that saves me from fraudsters. Now I can not lose all the money invested, I can only get a small loss from the fall in the price of the coins I bought.
regulating would be a hard task foe SEC to do it. seeing how much ICO is going to be launched in a day, they can't catch up to that if they are going to verify each team whether the images, profiles are real and whether they have a working MVP and are they capable of maintaining all the work and all these stuff. and so IEO was invented. yet this again will have a bigger risk, grander actually.
I in full support of your first point. The initial coin offering sectors really need a regulations to curtail the activities of scammers. It's so easy to organise an ico with out meeting any formal standard so a regulation would help tackle this situation
All regulations must not be there if you want to invest in the ICO. Because if you realize that investment in ICO certainly does not have coercion from the project. All decisions are made in each person, of course there is no responsibility if there is a scam to invest in ICO. Because that is indeed your decision, you who analyze you determine. So all of that is our decision when investing in ICO. why researching is more important, because that's the purpose so you don't invest in a scam ICo.
There is no perfect solution that will completely stop scammers. I think it purely depends on personal ability to make decision. Scammers will get nothing if we choose the right way. So the best solution is our knowledge, yet it's perfect.
I am very inclined to ICO regulation. But I believe this will not guarantee a 100% scam free environment. Just check the financial investment in fiat, Sec has regulated this and yet there are lots of scam company that victimized lots of unsuspecting people. It will lessen but will not remove the scam activities.
The developer of course, they just need to comply with the regulation, so they need to file a license to operate as ICO and submit all the needed documents.
yes indeed ICO regulations will make crypto better in the future but who will arrange the ICO?
The developer of course, they just need to comply with the regulation, so they need to file a license to operate as ICO and submit all the needed documents.
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