Topic: We need regulation pretty bad - page 5. (Read 5575 times)
I think we need companies that assist with regulating not necessary flat out regulations. I really like what Ciphertrace is doing and how they are protecting people's privacy while monitoring for any sort of money laundering
in general the most important thing is that prize hunters must be able to manage their money wisely in investing in projects or trading. Nowadays more and more new users are joining this industry but some of them are unable to place money properly. Regulation will not solve this problem, even scamers still roam around us. Basically the key to this problem depends on ourselves about how to put money wisely.
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i am not very sure about what you are trying to say here, but regarding shady places you don't have to forecast anything, you just have to look at the history. each time an exchange that previously didn't have any KYC starts forcing KYC on its users, there is a mass migration to other platforms most of which were shady before and don't require KYC.But what does that change? First, all existing exchanges will be forced to become transparent. Then the authorities will begin to prohibit and close those who will not obey. It is the matter of time.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Regulation in the crypto market for conducting ICO and IEO would be good, it would help reduce the number of cheaters among new projects. The only problem is that there is no general opinion on the crypto market regarding regulation, and there is no definition in choosing an organization that could regulate and catch scammers.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
yep, anyone here who has failed to invest in the wrong project needs rules to preserve capital.But actually, this is a decentralized market, it's a mixture of the worst and the best.
And our job is to find the best to make the most profit.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Government regulation is indeed needed to prevent fraud in the cryptocurrency market. Too often, scam projects have a negative effect on market confidence and also new projects that should have the potential to develop in the market
I was against regulation but after seing ico holders my thought changed.
Don't get me wrong, i don't want regulation against people like us. Ico holders should got regulated. They shouldn't have 5m $ and after 6 month, out of budget.
Don't get me wrong, i don't want regulation against people like us. Ico holders should got regulated. They shouldn't have 5m $ and after 6 month, out of budget.
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I don't think that regulation is really needed to filter a project, because sometimes a project can develop when the people in it can make the project work. in project matters, of course, we need to see the potential it has, success or not, it depends on the seriousness of the team.
this goes back to the research we are doing about a project. the deeper you search for information about the project, then you will know its quality. to see how good a project is, we don't really need regulation, but to prevent that, of course, we need regulation.
this goes back to the research we are doing about a project. the deeper you search for information about the project, then you will know its quality. to see how good a project is, we don't really need regulation, but to prevent that, of course, we need regulation.
Regulations may not be the absolute way out from the issue of scam. Though, its possibly going to help curb it, but I still believe that people need to be more informed and wiser. Most people who are duped are greedy and were actually expecting so much more before loosing out.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
If only there is a regulating body that would sift through the rising crypto projects and also oversee the running ones. It is both discouraging and frustrating seeing all the failures around. The worse thing here is that in every failure, it is not only the development team who failed. They are actually burning away the money of the investors. Aside from that, they are also tainting the image of crypto, which up to this point, is still struggling to be accepted by the wider mainstream society.
I have a couple of things in mind. First, projects using existing blockchains such as Ethereum's shall pass through a a kind of quality check done by Ethereum itself where there is a review as to whether the project is worth launching or not. Second, the general public needs to be educated regarding crypto. Most often, those who know little or nothing are the ones who become prey to these scam projects.
Yeah i support your idea and i think there should be some authority and new projects looking to raise funds should first apply to that authority that will thoroughly analyse the project and also interview the people behind the project and then issue fund raising license only if they think that project and team is legit and it has plenty of use cases to be success in the future and if they are not satisfied with either the team members or anyother thing in the project they should simply reject the application and stop them from raising funds.
Project team who are genuine and determined to succeed in their project should do a preliminary investigation before asking for the services of any developer. There are many developers out there and any qualified developer must have history of previous work that should serve as a preference for any team asking for such developers service.
The developer team of a good and legit project will certainly not be afraid of government regulations and in my opinion they will be happy. Project scams make the image of ICOs worse and this makes it difficult for new projects to achieve sales targets and indeed government regulations should be needed to punish people who commit fraud in the market.
Project team who are genuine and determined to succeed in their project should do a preliminary investigation before asking for the services of any developer. There are many developers out there and any qualified developer must have history of previous work that should serve as a preference for any team asking for such developers service.
Looking at the current situation of failure of many projects in terms of development and also fund raising, I believe regulations required urgently. May be the reason of bad marketing, but I see a major decrease in confidence of investors which is leading this situation. Loot of scams around the Cryptoworld is another concern. At the moment crypto space needs guidance and strict rules via regulations.
This will definitely increase the confidence in investors and situation can improve.
This will definitely increase the confidence in investors and situation can improve.
What we need is for people to stop being dumb and not to put their hard earn money to those scam ICO's. Regulations will be just futile because we al know that the system is decentralised. If people would just educated themselves, I'm sure less projects will run of investors money because they know they can't fool people anymore. Knowledge and education is the key here and not a full blanket regulation, in my opinion.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Because they find creating an ICO project is a way too easy, all they need is a small amount of money, they can hire designer, writers, blockchain explorer bounty managers, all they need is a few thousands and they can make millions out of it, this is why it's important to do diligent research or do not invest at all if you cannot extend your research.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
I do not think that the rules in cryptocurrency are needed so that someone, at their discretion, decides who is allowed to create a new ICO project and who is not. It will be the same bureaucracy with inevitable bribes and other attributes of centralization. The regulation of ICO activities should concern organizational issues - verification of the identity of the team in order to avoid possible fraud, the establishment of general rules to protect the rights of investors. However, the definition of qualifications for a project is too subjective and therefore government bodies should not address this issue. Otherwise, there will be no decentralization in cryptocurrency.
I personally don't think the issue of Scammers would be eliminated with the introduction of regulations in the cryptocurrency space. Rather there should be more sensitisation on how to prevent one from getting duped. This could have a longterm effect of sanitising the market and discouraging the scam projects.
Regulations should be created to defend the public from scammers. This in theory.
In fact, regulations complicate the lives of honest developers, while fraudsters simply become better at circumventing regulations.
In fact, regulations complicate the lives of honest developers, while fraudsters simply become better at circumventing regulations.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Regulations will not help, scammers do not care about the law and they will create false identities and credentials and then people will invest in those scams thinking they are secure because now there is regulation in place, in fact it is possible that regulation can make things even worse, we can see this with the regulations that forced icos to ask for KYC information out of their investors, scammers were really happy that such regulation passed since they could also steal the identities of their investors and not only their money. Jump to: