The world and bitcoins: the matter of global acceptance - page 2.

Dunamisx

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Quote from: Forever101 on May 06, 2023, 03:04:27 PM

Scam Cryptocurrency project, fake project promises has slow down the global acceptance of bitcoins.

Scam is what has been in existence right before the introduction of bitcoin im cryptocurrency, am mot arguing that other cryptocurrencies does not have scam attempt but bitcoin is not a scam currency, those that will adopt bitcoin will do so with or without scam and majority of what we call scam were as a result of our vulnerability in securing our bitcoin through our own negligence or when we rely on exchanges to have in custody our entire investment with them.

Quote from: Forever101 on May 06, 2023, 03:04:27 PM

• There should be an institution set up by core Bitcoin Blockchain and other chain Developers that will oversea and audit new Crypto project.

This may not be possible because we are talking about a decentralized network here and everyone has the right to choose what to invest, invent or where to hold his investment, if you think third party crypto projects aren't good enough, stay away, if you think holding bitcoin on exchanges is risky, then have your cold storage and keep your keys safe or get a hardware wallet, you can also download the bitcoin node software bitcoincore and run a node transaction for maximum security.

Quote from: Forever101 on May 06, 2023, 03:04:27 PM

• After auditing, they will also be responsible for the announcement of the genuineness of the project.

This also is not possible as everyone will be responsible for his or her own project, those projects are centralized while bitcoin decentralized.

AmoreJaz

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Quote from: serjent05 on May 06, 2023, 03:33:18 PM

Remember Altcoins is not Bitcoin, although they are both cryptocurrencies. Why give the responsibility to the Bitcoin developers when they have nothing to do with these new projects called shitcoins. Bitcoin developer should only be focused on developing Bitcoin to maximize their time in establishing and developing Bitcoin tech and economics.

Censorship and regulation is the responsibility of the Authority. Even audits of new project should be done by the government institution to ensure that the project has real people behind them and has the budget to run the initial stage of the project.

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what are your thought on this, is this possible or it's already in place

I think it won't make any changes. There is a more effective approach than what you have listed. Let the government do the audit, regulation, and filtering. They have the authority to do these kinds of stuff.

that is true. it is not in any way responsibility of btc developers to overlook the alts market. and also it is very hard to have a regulating body for alts itself. at the end of the day, the responsibility of checking each project is on the user himself. you can't stop a scam project to be launched because in this business, it is free for everyone to introduce their platform. the filtering up until now is on the user.

serjent05

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Remember Altcoins is not Bitcoin, although they are both cryptocurrencies. Why give the responsibility to the Bitcoin developers when they have nothing to do with these new projects called shitcoins. Bitcoin developer should only be focused on developing Bitcoin to maximize their time in establishing and developing Bitcoin tech and economics.

Censorship and regulation is the responsibility of the Authority. Even audits of new project should be done by the government institution to ensure that the project has real people behind them and has the budget to run the initial stage of the project.

Quote

what are your thought on this, is this possible or it's already in place

I think it won't make any changes. There is a more effective approach than what you have listed. Let the government do the audit, regulation, and filtering. They have the authority to do these kinds of stuff.

Ojima-ojo

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Even though I struggle so hard not to accept the fact that this is not an AI-generated text, the fact that all the outline points are both the limitations and features of cryptocurrencies and Bitcoin is at the centre of that, Bitcoin has suffered a lot of set back due to the many negative factors and characteristics of some the other cryptocurrencies projects that have failed in meeting the expectations of the investors.

But to note one fact and that is, we still have some few news and developments that bring out the true features and potential of Bitcoin and we already have some countries who are making Bitcoin a legal currency in their regions and that goes a long way to prove how the narratives are changing about Bitcoin and blockchain technology incorporating the world economy into digital ledgers system.

mendace

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Over the years, many cryptocurrencies have been born (if we want to call them that way) that pretended to be revolutionary that would have changed the technology by improving it and that would have been the only ones, in reality the only thing they did was to enrich their wallet. No I don't think there is an institution that controls these scammers but I don't think it is necessary to create one, it will always be enough just to believe in Bitcoin.

Forever101

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Bitcoins has become a global currency and topic discussed in every corner of the world. There has been many school of taught regarding bitcoins, however, bitcoins remain unique in itself and it’s usecases. With the global awareness on bitcoins via many medium, there is still fear in the heart of many, stopping them from joining the bitcoins space. That Bitcoin is the king of all Cryptocurrency and it is full of transparency is an undoubted truth.

The fear associated with bitcoins is from other Cryptocurrencies. The issue of scam has become a major threat to those who are new to the system. Many curious and profit driven persons have fallen for scammers with the hope to making it big. Due to this occurrence , many person have classified all cryptocurrency as the same.

Scam Cryptocurrency project, fake project promises has slow down the global acceptance of bitcoins.

Since bitcoins is unique with a clean track record, I will suggest that:

•   There should be an institution set up by core Bitcoin Blockchain and other chain Developers that will oversea and audit new Crypto project.

•   After auditing, they will also be responsible for the announcement of the genuineness of the project.

•   They will also help track down project owner if it happens that there is any form of scam.

•   They will help investors get their funds in the case of scam.

•   This single institutions will have their branches across the world to make it easier for them.

•   They should also work with social media to curb the spread fake project by verifying every crypto project on their social media.

•   They will also be on the lookout to fight and bring down every scam project with immediate effect.

I don’t think the multiple auditing companies we have is helping matters.
This are just my suggestion to fighting for bitcoins reputation before the novice.

what are your thought on this, is this possible or it's already in place

Topic: The world and bitcoins: the matter of global acceptance - page 2. (Read 192 times)