We need regulation pretty bad - page 6.

Jenkins33

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Quote from: Doranile432 on August 26, 2019, 04:38:18 AM

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.

But are those developers who take the job and know that they can’t complete it are not scammers?
Fraudsters are all those who cheat in one way or another other people.
It seems to me that regulation will not save the crypto market, because it was created in order to be independent. What is needed above all is the responsibility of the investors themselves, we must stop investing in those projects that have nothing but promises.

tebzzz

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Quote from: JCviggen on August 27, 2019, 12:00:24 PM

Quote from: taufik123 on August 27, 2019, 11:15:54 AM

Resolving Scammers with new rules will be very difficult to do. Scammers with garbage projects will continue to exist, as investors we must be more careful when choosing projects. even the project that initially went well suddenly was a scam.

I think that soon the situation will change. market rules will change and scammers will be given less freedom of action

how was it created? Until now no one has thought of a solution to this regulatory problem. Scammers will continue to exist, and may be very difficult to suppress growth.

JCviggen

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Quote from: taufik123 on August 27, 2019, 11:15:54 AM

Resolving Scammers with new rules will be very difficult to do. Scammers with garbage projects will continue to exist, as investors we must be more careful when choosing projects. even the project that initially went well suddenly was a scam.

I think that soon the situation will change. market rules will change and scammers will be given less freedom of action

taufik123

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Resolving Scammers with new rules will be very difficult to do. Scammers with garbage projects will continue to exist, as investors we must be more careful when choosing projects. even the project that initially went well suddenly was a scam.

digitalblock

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We don't need regulators to reduce fraud. They are needed for the cryptocurrency to be introduced into public life. And implemented with all its factors-anonymity and decentralization. Thanks to the regulators, we will be able to stabilize the market and everything will be much easier. We don't have to worry about price dynamics every time.

nwosuchristabe2

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Quote from: old fart on August 26, 2019, 06:46:53 AM

Regulations can't solve the scams, even in regulated financial institutions, people are still scammed hugely. I think investors should learn to do research, avoid falling for conmen. Do not give out your money on hearsay.

I fully agree with you, regulation can't solve the problem of scam, even with the tight regulations in our various countries financial market, people still get duped. The way out is to liberalise the necessary information which would help people make more informed decisions. Most persons may not be able to go through the rigour of carrying out intensive research, but with an easier access to information, they could make better decision.

Red-Apple

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Quote from: AltcoinsBattle on August 26, 2019, 11:06:20 AM

Quote from: Red-Apple on August 26, 2019, 06:41:43 AM

no we don't need regulations at all and the worst part is that regulation is not going to solve anything in the way you think they are!

the same scams are going to continue to happen if not more if this market was heavily regulated and people were restricted about what they could create. that would just push people into off-the-market and in shady places for trading.

the solution to the problem you are concerned with is so easy! people simply have to stop giving away their money to any random person who asks for it in return for garbage.

Perhaps you know about this phenomenon: individually, a person is smart, and the crowd of such people is stupid.
Therefore, there are laws governing human relations. Unfortunately, I see that this also applies to the crypto community.
How people act in accordance with the laws is largely dependent on the laws. Therefore, I would not make forecasts regarding "shady places for trading".

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.

lixer

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Quote from: Doranile432 on August 26, 2019, 04:38:18 AM

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.

Having a certified blockchain developer would still not stop scammers from doing what they need to do because a blockchain developer will not filter the project he is to develop, he will only be consulted to develop the project which they might not even know the intention of the business owner, so they will simply do their job.

The only major part where I would agree with you on having certified pro developers is the aspect of low quality projects, we have so many low quality project that if we had the touch of a professional developers, those project would have been the talk of the town, and with a qualified developer, we would always have projects with real use case being released. These are part of what should really form any regulation policy.

Saisher

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The big question is who will regulate, the platform? there are many open-source platforms, these scammers will just create their own and compete with the existing platform.

The government? that would be very bad for the industry chances are it will not become decentralized anymore, and they will have a say on how the project is going to run, they might even go after their investors.

JeffBrad12

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The problem is the blockchain is an open-source that everyone can use it. It's wrong if you are saying they are good in a particular field caused by the fact has said the different thing like the majority of them have no portfolios about what has already created by the majority of new blockchain developers. The regulation will not work with crypto until each of the existing blockchains will be putting its self strict regulation to issue a new asset (the majority of unskilled dev used the asset as the easiest way to start ico).

that's why we must do deep research to avoid such unskilled developer.

jdarren

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I agree. I will say that we have pretty important companies like Ciphertrace that are building extremely helpful technology for AML compliance and tracking.

jacafbiz

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Quote from: Doranile432 on August 26, 2019, 04:38:18 AM

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.

Regulated by who? thou I believe most of these scammers should go to jail but having Government dictating the pace of the development is bad for the space. Before Ethereum made raising funds in their platform as easy as A, B, C we use to have Escrow that would hold on to the ICO money and release the funds as timeline is being reached, if the system is still in place it would have prevented most of these scams in the space

jossiel

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There are open source blockchains that were used in other projects that's why it becomes the reference of those developers that wants to make their own project or scammers that wants to scam investors through their project.

Regulation would be counted as part of centralized systems while we're living in crypto, most of the projects here are dealt with decentralization. I'm not against with it though because it really happens nowadays.

kawetsriyanto

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Quote from: funchiestz on August 26, 2019, 07:55:08 AM

The regulations also contain risks. Therefore, it is useful to look suspicious to both sides. I think regulations will not do everything better at the beginning.

With regulation, then there will be a limitation. I am not sure if this can be good for the future of crypto business. As we know that crypto users support a decentralized system and anonymity. Instead, the regulation will ruin those characteristics on crypto space.

prehisto

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Quote from: Doranile432 on August 26, 2019, 04:38:18 AM

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.

What exactly do you suggest, what soultion to this problem, how this field should be regulated?

As far as governments seems to be concerned, they only concern is about paying taxes and money loundering. This is why we are seeing many new regulation factors coming into play in last months but nothing about ICO and projects.

Bitbtc8

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We don't need regulation in crypto space and infact its too late for that because mostly crypto projects are decentralized and open source,the only thing that needs regulation is ICO fund raising and i think it will stop ICO Scams and frauds

kramchers

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YES! we need a regulation for cryptocurrency but there are just few things i do think why we need it.
We need regulations for many country will accept the crypto and it will be legal.
Once accepted merchants locally will start having crypto on their business.
Scammers will be out of this as there are laws to get them.

poornamelessme

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Regulations can help in regard to ICO related fraud, and basically they already have in most cases -- hardly any ICOs being run anymore.

It won't help in the least in regard to bad projects. It's like saying regulation is needed to weed out bad companies from good companies -- it's not a regulation issue, simply an issue of investors needing to choose better projects.

#Darren

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Regulations will help to reduce the amount of scam projects, but they cannot be eliminated completely. Instead of a third party that regulates the market, we should find a team that would check the projects and sort scams out.

eternalgloom

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Quote from: Doranile432 on August 26, 2019, 04:38:18 AM

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

One of the worst ideas I've ever seen on this forum.
Cryptocurrency is all about being free and open, everybody should have the chance of starting their own project, even if they do not have any experience.

Sure, that doesn't mean that unqualified devs should make scammy ICO's, but it also doesn't mean that we need more regulations.

How about everyone does their own research and stops investing into ICO's altogether?
I ONLY invest in open source projects that do not participate with this whole 'crowdfunding before they have any sort of product' thing.

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