Bitcoin Forum

Decentralization is one of the greatest dreams of Satoshi looking at the how the blockchain technology and its immutable distributed ledger has been designed. Well it saddens my heart that the greed of men has led to the abusing of this freedom and liberty that Satoshi wanted us to have in the financial industry. Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization. I think we've all had it to the peak, how about we have some level of regulation with the activities in the crypto industry. Share your thoughts commrades.

Decentralization is a one great attributes of cryptocurrency in general but it's such a shame scammers has capitalized of that and turned it to there advantage there by unleashing mayhem.
But I think with sto security token offering replacing initial coin offering this would be that form of regulations we need

no, they are being robbed and scammed because they chose a centralized place to put their decentralized bitcoin. in other words they got scammed the day they decided to leave their bitcoins on exchanges and not have control over their private keys. and this has nothing to do with decentralization!

so you start by talking about decentralization but then demand centralization through regulations?!

Some form of abuse is always to be expected in any kind of new technology unfortunately. Also adding the fact that bitcoin and most cryptocurrencies are pseudo-anonymous, the scams and hacks are definitely to be expected. For now, pretty much all we can do is to deal with it, until probably a better solution of handling private keys becomes invented. Something that could potentially easily convince the majority to hold their funds on their own wallets; in contrast to holding funds on exchanges and online wallets.

the term "decentralisation" is of course being abused by the bitcoin founders,

who else controlls the centralised cryptocurrency index "coinmarketcap"? that is still influencing almost by 100% all "competing" other indexes.

its just a fake term, that abuses the malfunction of the banking cartels in order to profit from that and grasp for world domination.

the joke is that this whole card house they have build will sooner or later collapse. because of that abuse.

just look at the F.U. chart of Bitcoin

do you honestly think that regulations can eliminate these scams that you mentioned here or at least decrease the number of them drastically?
because that is the important  question that you should have asked yourself. in my opinion regulations won't do anything remotely like that because they are not meant for that anyways. for example if exchanges were regulated, they would still be hacked and you would still lose money but now you would have to pay taxes while losing money to a hack.

Even though many have been scammed through the anonymity nature of blockchain. It definitely has brought more good than harm people now have autonomous power and control over their assets through decentralization. No bank can access your funds because Pk is secured. The only major problem is scam ICO and I believe STO would definitely solve these problems.

The technology is new let it grow at its own pace. Mistake will be made but decentralization is the future and I will choose it over centralized system any day.

Unfortunately, cryptocurrency is built to get a safe and transparent basis, with new technology, someone wants to steal assets because these assets have a price, that's why people in droves want to steal.

cryptoindustry is already regulated, you have to be define what kind of regulation.

the current regulation is:

maximising the profits and power for the centere around coinmarketcap, and the "cryptomedia",

you are intentionally bending and changing the definition for your own purposes.
the fact that newbies choose to look at coinmarketcap and decide based on the fake altcoin ranking there is their own fault it is not about regulation or centralization of the cryptomarket. and every one of them who falls for these altcoin rankings has already paid by losing a lot of money as these shitcoins which were supposed to replace bitcoin because they were rank #2, 3,... got dumped on them.

Are you actually implying that coinmarketcap is controlled by the "bitcoin founders"? What the hell. Market caps of coins/tokens can definitely be very inaccurate, but calling it "abuse for world domination" is something else. This is next level tinfoil hat crap. LOL

jes.

the definition of shitcoin and not is based on coinmarketcap and its owners. they hold the whole power.

thats my point of few,

Satoshi made decentralization so that you do not need to take permission from the third party for your own money. Trustless  system meant you can send your money without  trusting anybody but it does not mean that you should send money to someone that you don't know and have no idea ( like  ICO).  If you not serious about your security/ or not using your security , you will be scammed anyways.

Everything has its own pros and cons. Yes, we are using a decentralized technology but I think it's normal to happen even though it's bad. We really can't avoid regulations especially in these times when scams are everywhere. The Government would take some serious actions some day.

Men abused decentralized crypto systems by making scammed ICO projects who has nothing to offer but  getting peoples money. But think about those things this decentralization system offers? There are greater opportunity on crypto investments. We just cannot get away from negative things to positive aspects in life. Its always balanced.

In every innovations there is already challenges just like what we are having today and people being scam here and there, but the fact still remains that all the scam activities is mostly carried out using centralized method e.g the introduction of scam project and this is mostly done using the bounty means and creation of new projects without any working products but this is outside Santoshi original dream of having a decentralized platforms using the blockchain.

It's not quite clear what you mean by abusing decentralization, care to explain?

Basically, you start with claiming one thing (as per thread title) and then turn to a quite different one, making it look like it is decentralization which is to blame for people being "scammed and robbed in broad day light". Not a good way to start your thread here if you ask me. Regarding anonymity, it is not what Satoshi himself was talking about. He didn't even consider Bitcoin an anonymous cryptocurrency in and of itself. So share with us what your point here actually is

Decentralization is one of the main feature that attracted people to Bitcoin and cryptocurrencies after so long period of centralized financial industry dominantion. I think this is still functioning well and I don't really understand what you mean by saying that decentralized system is being abused.
Anyway I agree that regulation could be positive for Bitcoin and lead to further progress. As well I don't think that regulation would also mean centralization as many users are afraid.

Who says shitcoins were determined by their price/marketcap on coinmarketcap though? People call shit projects shitcoins. Not projects that has a low price/marketcap.

Also, there's literally more than a dozen marketcap sites we have right now. You don't specifically have to follow coinmarketcap(not including the others): https://coinsources.io/bitcoin/#trading_tools

Scams happen in every field and crypto is one among them. I sometimes wonder if Satoshi would have thought about the possible scams that could happen in the future.
Satoshi was a genius and he could surely have prevented these scams or at least would have figured out a way to tackle these challenges.
I believe the only way we can face these scams is to be smart ourselves. Only if we our self take step to prevent falling in scams then there is a chance we don't end up loosing our money.

You can say that we are abusing the decentralization and that is because there are some greedy people among us who just seek profits for them and nothing good for the world of bitcoin or crypto which has become common but there is a majority of individuals who wants to see a world runs in a decentralized manner to give the proper freedom that we deserve so Satoshi's intention wont waste in vain with bitcoin and that can be guaranteed 

I don't think we are 'abusing' decentralization and anonymity, it's just that there are some gullible people who fall into such traps that often leads to scams and empty wallets. Bitcoin might have been used as a medium for money laundering and other illegal stuff, but it still fulfills its purpose to become a tool to help people get financial freedom. In any society you'll go, for as long as there is this thing called 'money' and 'currency,' expect that there'd be people exploiting some loopholes and abusing the system just so they can get the money out of other people's hands.

When we are on internet, everything is on the risk.
Why ?
Because it's hackable no matter how secure you are ! As it's proven by some exchange hacked incident.
They said that SHA 256 become their security and it's take a long long time to crack down but the fact said otherwise !

unfortunately you, like many others, has fallen for the common misunderstanding that the government regulations are a solution to everything such as scammers and it can eliminate them but if you actually check out what all the regulations already in place have been all about you can see that their focus is only on things such as money laundering, illegal activities like dark market, terrorism funding, and most important of all tax evasion. they do not even focus on busting the scammers .
so no, in this case decentralization is the problem.

I don't think scamming has anything to do with decentralization. In fact, it's much easier for a centralized entity to scam its users. Anonymity makes is problematic to identify the scammers, but decentralization doesn't have anything to do with it.
As for regulations, a lot of countries have already imposed some. Crypto exchanges often have to keep record of transactions, identify their customers, report to the authorities, prevent suspicious activity etc. I think it is justified when we are talking about big amounts of money (thousands of dollars, at least), but not when people want to spend a couple of hundreds and must make all those photos to pass the KYC procedure.

Regulations are not born equal

It is one thing to regulate Bitcoin directly (like forcing you to report every transaction you make) and a different thing to regulate only some areas which Bitcoin inevitably touches, for example, taxation of profits obtained via cryptocurrency operations. And even within these areas the level of regulation can be markedly different. For example, you may have to pay taxes only on your Bitcoin stash if you kept it for less than a year, so if you sell it after that period of time, your income would be tax exempt and you may not have to report it at all

Well unfortunately nothing is perfect and with every system that has been created by man there will be people who abuse it, i mean it is true that people may have their crypto stolen but at least we know who stole it, not the actual person but the address that the money was transferd to, meaning that address could be blacklisted and the stolen money will never be spent, just like what happend with the Japanese exchange, and to be honost people get their crypto stolen due to the fact that they lack sense of security.

For decentralization other systems should work as it. So Bitcoin cannot gain value on its own, we make it valuable and we evaluate it with central money. There are also decentralized exchanges that are useful today, but when you use them, nevertheless, the end point is "central money". So, we need to keep it on its own network to keep it decentralized.

No, we are not. Because ever since we started doing things that are related to cryptocurrency, it is already decentralized. And for me, because it is decentralized it gives us an advantage in order for us to become more secure.

maybe yes but not all, and in my opinion it is perfectly natural because in any technology, whether centralized or decentralized, there must be a lot of abuse too. It could be that if this happens then bitcoin will be destroyed by its own decentralization system because people already don't believe it

There will always be criminals in anything to do with financial gain. Even charity boxes in stores get stolen in front of CCTV cameras. Decentralisation is the dream, and despite what these scammers do we will decentralise the economies for the good of the people

Decentralization isn't a guarantee against small scams.It's a guarantee that the big operating "center" won't (in one way or another) steal your coins and scam you.We can't stop human greed.This is what actually drives the crypto prices up and forces the crypto adoption.

We should be careful here. Following a dream of one person is very similar to political regimes when
people were told lies and convinced it's all for better while that one or a small group of ones had all the profit.

Not all of us are abusing decentralization, but it's such a shame some of the people used it for bad things, it had caused a lot of damaged reputation for crypto, the dream of Satoshi was to make the transactions become easier,but some  people used the features for their greed and because of this many people often got negative thought for crypto

unfortunately things like this must also happen unexpectedly, before no one would think that the price of bitcoin would be so high, people are easily fooled by things that can bring profit easily, then this weakness is used by certain people. And i think the regulation also still can't give any solution about this matter.

I'm not sure about greed here

And I'm not sure about the rising crypto prices forcing adoption either. We saw prices rising for over two years (since September 2015 through December 2017, to be exact), and how much did that "enforce" adoption really? If you ask me (and not just me), this led only to higher levels of speculation and outright profiteering

Indeed, there was a lot of buzz and noise about crypto but did it actually contribute to real use of cryptocurrencies (like a medium of exchange, for example). I suspect that not much. Otherwise, we should now be in a totally different position but we are as we essentially were 2015, if not further from mass adoption than back then

Because of what is happening now, I am more inclined to think that we now need regulation, we cannot go on like this for the whole year or no project however good as it may seems to succeed, I thought rating sites can help us but we are all wrong, we need some form of restrictions now.

Decentralization is one thing I love in crypto but sadly many scammer person are abuse this kind of platform. But I think in any kind of platform abuser is still there even there some regulation. That's we need to be vigilant and always careful to what we do in crypto.

Unfortunately, this is the other side of the coin. Where there is no regulation sooner or later there are scammers. What can I say, if they are even in centralized systems. We knew what we were doing and we should protect yourself the from fraud. If you want regulation and are not able to cope with scams, then you have chosen the wrong direction.

You can't explore new territories without suffering a few consequences here and there. Decentralization is the territory of 100% personal responsibility - so if you're careless enough to give your private key to strangers your neighbours won't be forced to bail you off.
If you don't like it - you can leave crypto. It's not fun, I agree, but it's a price that has to be paid.

How can you be robbed in a decentralized way?
It cannot be done.
All of it are just foolishness, stupidity and lack of knowledge which all are just the same. ;D

Exchanges now are centralized, they are being hacked because of that.

Another is phishing which could be prevented if you did the right thing?

Scams? What kind?
All of this could be prevented if you are doing the right steps.

It is not the regularization that could stop scammers to continue their evil works but it is our self who are giving them a chance to scam us. They can't be existed if we all are taking much care of our wallets but due to our own mentality which wanting easy money, instant profit( which is impossible), and huge gains without doing anything will simply makes us easily to scam. We better change that cause there is no easy money, we must have to work it hard in order to achieve of what we want to happen in our life.

Hello everyone, maybe i was not clear enough with my submission earlier but basically what i want to put across is that cryptocurrencies have actually been introduced to bring financial freedom to almost everybody. But the problem is that many people are using cryptocurrencies to do a whole lot of bad things which is tarnishing the image of cryptocurrencies and also making the global legalization of cryptocurrencies very difficult. I believe lack of adequate knowledge, greed are some of the reasons why some people fall for these scams and i believe also that it is our sole responsiblity as crypto enthusiasts to find the best solution that would help curb all these bad nuts in the cryptospace. thanks for sharing your thoughts guys. i really love reading them all!

why do you have the idea that we are abusing decentralization?  Decentralization is the tech version of democracy where we are in charge of our decisions we take in the financial ecosystem. Cryptocurrency (Bitcoin) introduced the world to an environment where people don't have restrictions in terms of sending or making transactions. Decentralization eliminated the third party system which restricted people with regard to the amount of funds they can send within a given period. This system was financial slavery. People are just appreciating the financial freedom decentralization gives them and  not abusing it. You only get scammed when you make yourself vulnerable by not making enough research about a project before buying into it.   

Certain regulation of cryptocurrency by the states is inevitable in order for the cryptocurrency to be legalized in each country. However, such regulation should not affect the fundamentals of the functioning of a decentralized cryptocurrency, because the meaning of its existence will then be lost. The state can only establish the order and conditions of circulation of the decentralized cryptocurrency inside the country. In this part of the anonymity and confidentiality of the person may be lost. However, the state should not interfere with the principle of decentralization of cryptocurrency. It has the right to release its own centralized cryptocurrency and manage it.

Everything has its own drawbacks because there are no perfect systems, and there will always be people that will abuse it for their own benefits, in this case hackers and scammers are abusing the decentralized nature of Bitcoin so they can be almost impossible to be traced but there will be no activities like this if people will not let it happen. The reason why people are being victimized by this is because there are people that are not knowledgeable enough on how they can secure their Bitcoins, while some are being scammed or hacked because they are careless on where to put their Bitcoins, thinking that 3rd party wallet providers are safe to store their Bitcoins in long term. And even with good regulations this kinds of illegal activities will still exist.

We are not abusing it, instead we use its benefits and enjoy the thing it was. I may in good of being decentralized market as nobody have taking control of the flows. Due to anonymity of individuals have brought something disadvantage to us leading into scam and some other illegal activities just like frauds and money laundering. I may afraid that this cause a huge problem in the community and may regularization will stop it.

I think many people don't understand how decentralization works, even now we have to believe in smart contracts that don't have any guarantees. Decentralization is actually only owned by bitcoin because the decision to renew technology in Bitcoin requires consensus with a joint decision. When there is a cryptocurrency that is only controlled by the development team, I think they are not part of decentralization.

This was going to happen no matter what, not only for the reasons you specify but for others as well, people are used to be protected by banks that they do not really take the time to secure their digital information, but now that we are our own banks securing our information is up to us and now people are finding out that it is way harder than what they thought, so we need a change in the habits of people towards their digital data, something that is not easy as anyone that has tried to eliminate a bad habit knows.

More and more scammers are showing up due to this lack of securities,more crypto followers are just aiming for quick money and forget about observing how things are doing from the current situation, we can't change that but we can do avoid it to keep happening, by starting to change your idealism to this industry and begin to manage things in the right ways.

The fact that people are getting scammed has nothing to do with bitcoin's decentralisation. Scams will happen regardless of what currency is being used.

I don't understand why you think decentralisation is being abused. The irreversibility of bitcoin can also be seen in various other transaction methods, not just bitcoin, and I don't think scammers using bitcoin can count as "abuse of decentralisation". Decentralisation is what makes bitcoin have potential in the first place, and taking away from that makes no sense.

I do think though that regulation in bitcoin businesses, in particular exchanges, should be welcomed. Although, the fact that most of these regulations do absolutely nothing in terms of regulating the security, reserves, and customer service of businesses, but rather focuses on draconian KYC/AML measures means that they are pretty much useless at this stage.

Exactly. Most scams or loss of funds are largely because of misuse among everyday people. They are not aware of how to properly secure their cryptocurrencies against hacks or theft by never leaving their coins in an exchange and doing several other practices. Because centralized exchanges have the most liquidity on the market, they are widely used worldwide. This brings a single point of failure, where centralized exchanges become honeypots for hackers. For people that are newcomers into cryptocurrencies, they could easily lose their coins by leaving them on an exchange.

However, all of this could be avoided by taking the necessary precautions to secure your coins. It's not decentralization's fault, but rather the lack of education among average people within the mainstream world. If everyone were to follow the right guidelines in securing their coins, then it'll become nearly impossible to get robbed. Decentralization brings unmatched security, but the greatest flaw of it is the user himself.

Nonetheless, I believe that there needs to be regulation in order to put an end to scams once and for all. Just my thoughts ;D

Decentralization is meant to be this way that people can fork any coin they'd like, you may find it abusing but its what makes it decentralized. Anonymity is another thing to abused though. You just have to figure which project you can classify as stupid than fairly good and decide whether to send money to it or not.

Please help me understand this post you made. What do you mean by we abusing decentralization ? Decentralization is just an environment that provide people in it with a peer-to-peer system and also an atmosphere where they can decide on how they trade or make transactions without any third party. This is called the financial freedom. You are just overthinking this, just accept nature of blockchain technology and everything will be made clear to you... ;D ;D ;D

When Decentralization was introduced using blockchain technology with bitcoin, Ethereum and many other altcoins they provided freedom for everyone who started to use them with no involvement of a centralized organization and that gave some criminals specially hackers an opportunity to steal and rob others without getting caught to anyone and that is why wee see like it has been abused by people who are in both bitcoin and cryptocurreny markets which has become unavoidable

That's is correct, people got scammed or hacked only when they got exposed just like what you have said about exchangers. if a person sends his/her Bitcoins to an exchanger it is already at risk because if that market is being jeopardized expect that those Bitcoins that a person sends will be in danger too.

LOL, maybe he does not fully understand what he is saying because at first he is talking about decentralization and all in a sudden comes up with a centralized idea coming out of nowhere. ;D

- Blockchain enables you to spend your money without going through third-party.
- It enables you to own a currency that is not tied to debt nor  effected by inflation.
- It enables you be your own bank in a more secure way.
- It Censorship resistance.
- you fund is securely held in a decentralized way.

Blockchain or decentralized platform does not stop you from giving your money to crooks just as banks don't stop you from sending your money to crooks.

Even if there are some disadvantages of Bitcoin being in decentralized structure, it can easily be seen that the advantages are more in comparison with the overall framework. Even though there were people who had benefited from these disadvantages and gained unfair gains in the last period, market players have matured and the frequency of such cases is decreasing.

Yeah I think we should be fair with that, even if the financial system is centralized, there is still a lot of misuse, because the decentralization transaction is a transparance and decentralization can actually be used to reduce crime, depending on how they use it well or not,

I agree with your assertion that the decentralized structure of Cryptocurrency is being taken advantage of by some individuals.
For instance , some people now use it for money laundering, to sponsor terrorism, for drug trafficking and scamming activities.
This is all due to the fact that there's no way of linking this online activities to their offline addresses.
Talking about some kind of regulatory control over Cryptocurrency activities, I think it would be great and also will reduce the incidences of this criminal activities.
But the question is, how will the regulation control be implemented since what we have is not a centralized structure?

Decentralization means no third party involvement and we all just want the idea of it that's why we're here. And it's not "us" who abuse decentralization rather "them", who have greedy hearts who only want the best for them. And we can't do anything about it if they let that "greed" eat them.

But how bitcoin is going to regulated and who is going to do that since we never know who is satoshi nakamoto.If governments are making chances then they will just increase the tax amount and make moew burden to the investors and it is not going to make any changes with the current situation.

Agree. A cryptocurrency that cannot be forked at will, as well as, lacking permission-less characteristics, is not considered decentralized. It's normal to experience thousands of forks from a single project, as it's beneficial for the maturity of Blockchain technology. There can be as many copies from Bitcoin within the market, but only those that are solid in development and innovation will most likely prevail in the future. If you're considering investing into an altcoin or Bitcoin fork, you need to decide whenever it's worth spending your money on it or not. This is done by researching about a specific crypto project you're interested into.

Eventually, there will be only one Bitcoin with a few altcoins within the market. There will be no use for thousands of cryptocurrencies on the market which serve no real purpose in life. The main intention of most crypto projects is to profit but not to deliver real usability for the mainstream world. Which is why, only a select few cryptocurrencies will stand the test of time, while the rest becomes forgotten by people.

Nonetheless, I don't think that we're abusing decentralization since it's normal that people can do whatever they want with any crypto project. That's the beauty of Bitcoin and other cryptos where no single entity can control them. Anyone can copy, redistribute, and improve upon an existing crypto project for the benefit of Blockchain tech. Just my thoughts ;D

this is sometimes where some people mis interpret and start to think the only way to innovate and have a strong project is to use forks to push out the weak idea's and then keep only the strong idea's as a single project under one teams control.

to insinuate that what you say means that bitcoin needs one lead team IS centralising.

the whole concept and revolution of 2009's invention is that different people do not NEED to split off when an idea is promoted.. instead the true "honest node" consensus is that changes to rules simply do no occur unless there is diverse agreement that the change is beneficial to the majority on the network.. without splitting up the network.

research byzantine generals.

so those trying to insinuate the only way to upgrade a network is to fork away opposers is literally abusing the bitcoins prime purpose of consensus.

yes people can make as many altcoins as they like. if they want to make their own altcoin. no one is forced to stay. but in th same breathe no one should ever be forced to leave before an upgrade purely to fake a majority.

that means a certain team should not get to control bitcoin and be ultimate lead by forking off opposers, forcing people off bitcoin just so one group gets their way is not consensus nor is it being a honest node majority.

if a certain team proposes an idea. and there is no HONEST NODE majority.. then the upgrade does not occur no harm no foul.. obviously the idea was not good enough... end of story move on

the proposer should then listen to the community, figure out the objections and find a solution that a majority would settle for.

if your mindset is still foolishly thinking bitcoin needs a leader and forks are needed and control from a central group is needed then please research the byzantine generals issue and the things that bitcoin solved when it was invented in 2009,, before trying to rebutt to insinuate that bitcoin can only function centrally via forking out opposing views

regulations and single lead team reference clients goes against the whole point of bitcoin.

if you want scam safety. try getting politics of countries(not crypto) to actually build laws that make it easier for users to sue/charge a scammer.
you dont need to regulate the currency/network. you need to make legal recourse in a courtroom easier to access for victims, and then education about self awareness, due diligence to help prevention of scams/theft.
regulations dont do either. but consumer protections does

What I really meant is that a decentralized cryptocurrency is easier to be forked at will than a centralized one. Of course, you do have a point with the Byzantine Generals Problem, but the open source and decentralized nature of Bitcoin makes it inevitable for forks to happen. Even with opposing sides, Bitcoin is still the original Blockchain we've come to know since 2009. Nodes, miners, and the community have been well-unified compared to other cryptocurrencies like Bitcoin Cash and Bitcoin SV.

While I'm not comfortable with many Bitcoin forks, I believe that it's good to experience this as it will benefit the development of Blockchain technology. With different features, algorithms, and scalability solutions (LN, increase of block size, etc), Blockchain technology can be improved in many ways that were never thought possible. Things aside, I agree with you in some points where we don't need to regulate the currency/network or a leader for Bitcoin to work as intended. After all, Satoshi intended to remove third parties or middleman by creating a system that's trustless.

So far, many crypto projects have deviated from the "trustless" part and have been focusing on leaders and central control (like Bitcoin Cash, Bitcoin SV, etc). But in the end, only one Blockchain will prevail by remaining as decentralized as possible for the world. And Bitcoin fits the bill nicely. Just my opinion :)

People gets scammed when using FIAT currency too. You can't blame crypto currencies only. Those who are getting scammed should be blamed too for being irresponsible. It was their fault partially that they got scammed. If they remained alert or did take proper precautions, then there would have been high chance that they could have avoided getting scammed.

Yep I believe we have abused decentralization. When a certain group has divided their idea, the solution is to fork and not to find a way to compromise what is to be compromised so they divide the community as well. It doesn't seem like we become decentralized in such a way but we seem to be bound to fail when all are divided but this again will fall to the discussion of greed and money. A forked coin was again forked, you can just do it forever I wouldn't wish to live by the time its the son of Roger ver that will fork another forked coin.

Everything has it's pros and cons, we can't keep only pros. I think decentralization is abused on different way, not like you say. In abusing of decentralization I mean abusing of bitcoin's use. To my mind it wasn't meant for wide use so there were no regulations. Now it's abused, used by a lot of people, bitcoin isn't as decentralized as it was at first, price is manipulated easily.
There are some regulations on crypto industry and I think that's bad, we don't need it. Let's take care of our wallet and leave freedom too.

Exactly. Before Bitcoin was known to the world, it was a perfectly decentralized cryptocurrency. Now that it has experienced mainstream adoption back in 2017, it's been manipulated by centralized exchanges and whales. Also, there has been certain regulations which limits (sort of) the growth and adoption of Bitcoin and other cryptocurrencies worldwide. Too many regulations will cause the growth of Blockchain technology to stale, IMO.

Not to mention, Bitcoin has been forked several times with the purpose of making money or destroy Bitcoin's reputation. Because of this, I would say that we've been abusing decentralization. Satoshi wanted Bitcoin to become a decentralized cryptocurrency free from middleman or third parties. But the huge dominance of centralized exchanges and mining firms (like Bitmain) will make the vision of true decentralization just a dream.

Nonetheless, I hope that decentralization will win in the long run by eliminating the bad actors from crypto land (Roger Ver, Craig Wright, Bitmain, etc). Just my opinion :)

Cryptocurrency is no longer an exception, people find ways to scam the one next to him through different ways possible. When it comes to decentralization, scammers find it easy to get scammed. Here the true scammers were the one who fall on greed. Scammers target us, but we need to be clear about the market what can happen and what can't. In most of the cases, the multiplying of bitcoin is the much used term by scammers. People never think it is impossible, but they just rely and loss. Once after losing they begin to get back the loss from the others as they've got scammed. This is have scammers get spread throughout the cryptocurrency network.

Have you heard a bank case that was robbed by a hacker? In my country many case about that. As you know, the bank has a centralized system that you may exert. Theft or robbery is not affected by the system which used, this is a security problem and I believe cryptocurrency assets are not very easy to steal, although it depends on the carefulness of the user himself. If the cryptocurrency assets that you have want to remain safe, you can take a path that cannot be stolen by hackers, such as using hardware wallets and I have never heard a hacker steal a cryptocurrency in a hardware wallet, I think it's a solution that you can use.

People preferring decentralization are alow the ones who do not want any other entity to have control on their assets and there have been many cases where reputated exchanges and ICOs have fallen prey to attacks so people are preffering decentralization. And as you said in your statement about how man's greed has caused him to exploit his freedoms and rights in any situation, I 100% agree it to be true but we cannot help there are people who always try finding a way to take unfair advantage of any thing which is meant for the betterment of the society, they exploit it for their own benefits and that can't be helped it is the very nature of man itself.

I don't think so because that's the nature of what's called decentralization which we had previously admired because there was no third party/bank involved, but because there was no control from the authorities, of course the benefits of decentralization eventually tended to be misused.


In my opinion this's very important like KYC or something like that, unfortunately we don't know exactly the people behind it, so don't be surprised if its existence is often doubted by us, including the people in this forum.

Actually, we are not abusing decentralization, we are abusing the concept of it. For somethings, there is no need for decentralization.

By the way, anybody wants to invest in my decentralized bakery? :)

It is worth noting that it is not because of the anonymity and decentralization approach of bitcoin that we more likely to experience scam and robbery, we can get scam without using such service anytime. It is the primary responsibility of the virtual currency owner to protect his or her fund to the best of his or her ability.

It is also good to mention that as much as I like to believe that you are in good terms with bitcoin's decentralization approach, at the last part you like to put some level of regulation, which means you wanted to employ a trusted third-participation to IDK, to limit the possibility of scam? Again it is the primary responsibility of the owner to protect his or her fund.

Maybe  we would have to understand this bitcoin in future because of the ways many have take it as a channel of scamming investors and traders.  Decentraliziation bring stability and trust and if we decided to used bitcoin as it ought to be then we most build trust and transparency in cryptocurrencies transactions.  The anonymous nature of bitcoin and blockchain technology has been taking advantage of by the criminals to scam and steal hard earned money of investors.

In my opinion, I think we are not abusing the decentralization of bitcoin. Since bitcoin has started it is decentralized and I think once bitcoin is centralized we will not be able to experience the bull run or the unexpected change of bitcoin to its highest peak or its lowest. If bitcoin is decentralized, we could expect the best and the price that we want. But I think those who are scammers so called. Uses the technology to take advantage or to abuse the decentralization of bitcoin.

Even though many have been scammed through the anonymous nature of blockchains, it most definitely has brought more good than harm since people now have autonomous power and control over their assets through decentralization. No bank can access your funds because pk is secured. The only major problem are scam ICOs and I believe STO would definitely solve these problems. But at the end of the day, smart investment has always been the shield protecting people from scams and frauds.

Exactly. Decentralization is not an All-in-one solution for everything. Sometimes, centralization is needed to make things work as it should. I believe that the term "decentralized" has been greatly overhyped and abused, especially by startups and companies. This is true because, nearly every new cryptocurrency or blockchain project uses the "decentralized" concept to attract users to them. For example, Ripple claims that XRP is decentralized when in fact, it is not.

On the other side of things, we've been abusing decentralization by creating too many forks out of Bitcoin that are not necessary. Therefore, in some sort of way, we've been abusing decentralization for quite some time.



Yes. You can't blame decentralization on something that's your responsibility. Being decentralized means being free. Because of this, there are many risks involved that one needs to have in mind. Of course, scams and hacks or theft are all over the place. However, following the right guidelines could make you nearly invulnerable to such caveats. Despite this, decentralization has been largely abused as scammers have taken the opportunity to affect other crypto users. Just my thoughts ;D

The people who are being scammed is everywhere in this world, because there are always the bad guys.
The important things that we must consider is improving the security of the decentralized wallet too keep it more safe and no more scams.
But back again in the fact of the internet.. no system is safe.. everything that is on the internet are hackable even it has a very good security

What is different? sometimes decentralization is indeed very beneficial for one's privacy. but it is actually prone to fraud. in a decentralized, belief is number 1, people are sometimes reluctant to transact with someone like an invest because they don't know the identity of the owner?

As the decentralization has provided with the easy access for dark web needs, it isn't abusing decentralization. It is upto the user who make use of it, even with the fiat large scale illegal activities happen than that happening through bitcoin as well other digital currencies. When one has got good in it surely it'll have negative side as well.

No mate . decentralization dont help users to access the darkweb easily  .  it needs a special tools  ( e.g tor/onion browser )  to dive into the deepweb  .  bitcoin and crypto only influence the darkweb because both are anonymous  . you are right  .  its up to the user if he will abuse cryptos  but this should not be a big issue because even fiats or any other payment methods do already being abused by the people who use it .

You should know that every development have it advantage and disadvantage and the scams and all the other negative activities in the bitcoin/blockchain is one of those negative aspect of the development and Santoshi himself will have for seen this coming also but we can not deny the fact that decentralization has made total freedom in the financial system possible in this generation.

I dont think dark web have relation with bitcoin. Bitcoin only a tool that people used for transaction but i dont think this is become issue. Bitcoin is peer to peer payment system and some people need anonymity on their transaction and i think its legal. Abused if bitcoin used for criminal activity.

The user is still responsible for what is happening to his accounts.
Though we are not free from those illegal activities, we can just minimize our risk of being part of it.
This side of business, which is crypto, is really hard to regulate because it was created not to have one.

I believe you don't understand what the word decentralization means. if you did, you will know that decentralization is like democracy; people are in charge of whatever  they do on a decentralized platform.  What people need to understand and know it that, with this freedom provided by decentralization, you are in charge of your own safety on this platforms.

all things in this world are easily misused by everyone including crypto currencies. the aim of creating crypto currencies is that everyone can manage their assets safely and very confidentially. but all systems, including crypto, are easily misused for personal gain and that is done by bad people. we cannot avoid misuse of a decentralized crypto system. however, we can prevent this abuse by making a more stringent security system.

Decentralized cryptocurrency is not really perfect yet. However, she is only ten years old and continues to evolve. In my opinion, you should not destroy its main achievement - decentralization just because it still has security vulnerabilities. In addition, the regulation of cryptocurrency by moving to the centralized principle of its existence does not solve this problem anyway. Cryptocurrency abuses still remain. While there is no need to hurry anywhere, let a decentralized cryptocurrency develop.

I have been saying this all along. There are many advantages of decentralization but decentralization could not contain the bad side of human nature so much so that we had seen people being robbed on the broad daylight digitally and has been the big reason why cryptocurrency has become the scammers' paradise. I am sure millions if not billions of money have had been lost to scams and failed projects in this industry. Decentralization then without constraints can be a bad thing since many will be taking advantage of this for their own benefits and at the big expense of innocent people robbed of their hard-earned money. The whole industry has to be doing something concrete about this problem.

We are not. Decentralization of cryptocurrency is an advantage for the cryptos itself. It is good that no one handles and manages it just like government. This financial industry and digital money world is good for everyone of us especially when we are smarter. You will be only scammed when you have ignorance in your head. Just be informative in every step you take.

I think about this all the time especially with all the new projects that are coming out. We are forgetting the true goal of cryptocurrency and instead making it closer to the current state of fiat money. The only project that I know about and am truly looking forward to that doesn't sacrifice decentralization and is the truest form of crypto imo will be Ampleforth. Currently in testnet but they will be someone to watch closely.

         Decentralization is a very important aspect on the cryptocurrency market. I do not see any form of abuse in the decentralized system of cryptocurrency. Decentralization offers a system that can not be controlled by banks, governments or other institutions. The fact that people invest in ghostly ICO projects does not mean that people are abusing the decentralized system to trick people. Scammers are everywhere and in real life. We need to be very careful when we choose to invest. Guilt is with us. Nothing is easy in this world. Decentralization offers us many advantages and does not design the crypto market without decentralization.

That is why the world remain static because there are those who are chosen to fight the good ones and turn them to be bad. STO to replace ICO is such a shame to the world of Freedom and transparency as such destroy the savior (Bitcoin)

"decentralization" is one of the most exploited themes, often exploited by fraudsters to raise funds and disappear. it's also abused from another point of view: decentralization = freedom and centralization = evil .. I think these associations are wrong: I think the truth lies in the middle, the world needs both in the right balance

Completely agree with you, mate. It depends on the individual itself rather than the decentralized design of any cryptocurrency. In the same way the Internet can be used for both good and evil things, cryptocurrencies are similar. Sometimes, decentralization brings its risks as there isn't a centralized authority. Anyone can do anything to their own will, since cryptocurrencies provide freedom. While this is true, it's still possible to control the level of illegal activity with the implementation of proper regulatory measures by the government.

As such, decentralization is a double-edged sword that can either benefit or destroy you. What's important is to be responsible at all costs, to avoid many undesired situations in the future. The only thing which I consider to be an abuse of decentralization though, is the creation of many useless Bitcoin forks with the purpose of enriching the developers.

Other than that, the decentralized nature of crypto will do fine for a couple of years from now. Just my opinion :)

very regrettable, I really like the idea satoshi nakatomo in decentralization, people steal because there is such a large and easy value in making transactions, with decentralization all trade only requires historical orders, misused technology

We are not violating decentralization for now. Crypto and bitcoins are not in control of anybody and therefore everything is still decentralized. However we see often steps being taken to make crypto regularized. If there are regulations introduced in crypto worldwide, then it can really damage the decentralization nature of crypto currencies.

Yes we are abusing it . when people discovered that crypto is decentralized , they are starting to like it  because they were also suck at using centralized currencies  .

 they knew that when they used centralized currencies , the government and banks are only benefiting the most  .   

We abused decentralized in a good way   . theres nothing wrong with that  , so dont worry 

yeah you are right, we know that bitcoin and cryptocurrency has decentralized system, and i think that it is the features and i think it can be the weapon ti shoot cryptocurrency itself, so i think that we should know about this, the benefit of the decentralized system and the disadvantage of the decentralized system

Indeed, it is rather difficult to interpret which is true, because decentralization is indeed intended and serves to maintain your privacy, and we do not care about your goals and purpose of transaction. but from that its misunderstood, because freedom does not mean someone is free to use it for evil though. the point is many people are abusing this system

It is not abuse, what happens is that we live in a system of rules, where governments and banks dictate their rules of control, no government accepts that people reach their financial freedom and can manage large capitals, their control begins to weaken, also in the case of banks, are those that control even the large sums of money that each person must withdraw, with bitcoin and blockchain, you can manipulate your money as you wish, there is no third party to control it, this is freedom thanks to the decentralization.

I don't think we are abusing the decentralized system.
Cryptocurrency is still very much not under the regulation of any government or institution

Bad people will surely take advantage of the decentralization but there is possibility to avoid them if we make more guidelines or instruction for new comers to know more about investing in cryptocurrency and help them to stay away from fake projects. Scammers are targeting these people because they knew that they are easy to fall for a trap.

Having some problems in a field does not mean that we reject it all
Problems related to private switches can be overcome by relying on wallets to save money and not exchanges until this loophole is overcome
Be carfull ... the regulations will move us to central in the end ... !!!

Everything has its disadvantages and bad sides and decentralization has a lot of it, including scamming people and transacting illegal stuff using cryptocurrency it is something that we must live with and the one that hinders the legalization of cryptocurrency

Wherever money can be made, scam can be found. Well, I don't see the numerous project on the market as abusing the Blockchain technology but rather as a scene which shows the utilization of the innovative Blockchain technology. The scam projects in crypto will eventually be curbed as incoming platforms that hosts these projects put checks on the new projects.

Decentralization cannot be misused because all data can be monitored by all users, making it safer than centralization. Besides that it cannot be manipulated or hacked.
So from this decentralization model is a data server by many future-oriented companies, because the future is a digital world so that all are done in a computerized manner.

I absolutely agree with your opinion that we are not taking full advantage of the decentralized system in a way that was expected by the inventor. Most of us are involved in speculation activities and we are not giving first priority to use Bitcoin as a payment instrument which is restricting the growth of this innovation. I believe that awareness should be the first step from all of us to reduce the possibility of being scammed and then we can move forward to acquire the advantages of the decentralized ecosystem.

For me we are not abusing the decentralization technology rather we are maximizing the benefits and advantage it may bring to us and until now massive development are being introduced to public. In due time decentralized technology will play a major rule in more advance technology.

And we have lot of regulations on fiat money usage but still the world is full of scammers right?

There will be always some people who want to make easy money by scamming others so they don't even care about what the technology is about,they will attempt to scam so the fault is in the hands of people who is falling for those scams,and one thing in bitcoin we can find the scammers easily when compared to fiat money scammers.

From the local market to the digital market scammers and robbers are every where, so you can't link it with cryptos only.
The reason of these high level of scams in the market is lack of knowledge. One who is using cryptos should be aware of security and privacy terms of these digitalcurrencies.
Educate people more about blockchain and bitcoin security so that they can better take care of their assets, in order to reduce number of scams.

it is difficult to get legalization for most countries against cryptocurrency, because there are still many pros and cons regarding cryptocurrency, for example cryptocurrency can be easily misused by people who are not responsible for committing crimes to avoid ownership records. but on the other hand most cryptocurrency users try to be able to give trust to the government that cryptocurrency is a technology that must be developed because it can facilitate people who use it to do all transactions from anywhere. but in reality the government is only aware of the existence of this modern technology and cannot fully legalize its existence because it is feared it can replace the existing currency.

Exactly. It's not about abusing decentralization, but more on exploring its benefits for our society. Bitcoin and other cryptocurrencies are highly experimental, and a new kind of money. Since we've been accustomed to centralized money for a long time, it's hard to get a hold of something that works in a different way. Being decentralized, means that there's no central authority in charge of regulating actions (whenever good or bad). It's up to you to do the right thing, by securing your coins and avoiding scams.

As centralized systems pose a risk to our personal and financial information, I believe that decentralization will take over within the future. But it will take time as people slowly discovers the benefits of it. Just my opinion :)

Most being scamed are scammed because they choose not to utilize the full concept of decentralization. Mosy people love storing funds in a centralized exchange at the end they ebd up being prone to hack. Once we all embrace the full potentials of decentralization it will be difficult to be susceptible to scam because we will have our funds within our control

Why it said that because of the decentralization people scammed? No its not. People got scammed because of their own neglects to their wallets where their crypto currencies stores. Because for me, because of the decentralization wherein anonymity integrates makes our crypto currencies in a much secure state.

Because of these problems with hacking and fraud, the cryptocurrency is relatively slowly accepted by people for use and especially by states for legalization. Now, cryptocurrency, contrary to general opinion, is not a safe repository of value, especially for ordinary people who do not have and for various reasons will not have the necessary knowledge and capabilities to implement cryptocurrency security measures.
Cryptocurrency in this regard still needs to be improved for a long time, to be simpler, but at the same time more reliable and affordable, otherwise it may remain for a handful of enthusiasts.

Sorry to OP, though isn't what you've state is much more of personal advantages? In another area, Isn't that some uses the decentralization in (morally) illegal ways. Though, we can't deny the improvement of the system but I think in some areas we are abusing the these "Decentralization". Though, I'm not quite sure about the "Decentralized" will play major "Role?", What role or "Rule" specifically? As far as I know, Some or most of the countries are not supporting the decentralize idea in a system.

Most people have a misconception about decentralization these days. They believe that decentralization only means being scammed or robbed all the time. However, the truth is that it depends on the individual himself whenever he properly secures his crypto assets from such unfortunate events or all the way around it. The same way there's scams, hacks, and other unfortunate events on centralized Fiat currency, decentralization is no different from this.

While this is true, I believe that decentralization presents far more benefits than centralization. When you make use of decentralized cryptocurrencies like Bitcoin and Ethaxereum, you can feel confident that your balance is safe from third parties (with proper care of course). That's not possible with centralized Fiat currencies as they're subject to governments and third-party intervention. As it's said on the real world: "With great power, comes great responsibility".

Which means, that decentralization brings great power to the people, but great responsibility is needed to avoid many undesired situations. Hence, I don't believe that decentralization is being abused, but rather used in a wrong way. Just my thoughts ;D

decentralization will not run perfectly until any time, human beings have their own interests and even include committing crimes, and that is where all things are created centrally with the aim of being a monitor and balancer. But in reality it does not become more fair. Crypto provides many things to be stronger in building a system that actually returns to an economy based on human resources and real transparency. The government must indeed be involved because they are only reliable regulatory determinants even though there are some impacts that are not in line with the initial expectations.

For us decentralization is one way to overcome the problems that are often related to policies relating to the center, especially servers that are often hacked so that it is easy to misuse.
Decentralization is more supportive for jobs connected to the internet because servers are on many computers, making it difficult to be corrupted or manipulated.

Even though a decentralzed system may not work ideally, it has a potential to work in a better manner when compared to a centralized system. It may take years to complete the restoration work of the decentralized system and to perfect it. It is very unlikely that we will have a problem if we observe our precautionary measures during this period.

Good point. Decentralization is often a term which is relatively new, and not as perfect as the traditional centralization many people have been accustomed to for a long time. It takes time for people to adapt to this new system where the middleman or third party is removed from the scenario. While it's true that the risks associated with decentralized systems are higher than those from centralized systems, it's still the best way to achieve liberty and freedom. People just need to be responsible in every way to prevent many undesired situations from occuring.

It's not about abusing decentralization, but rather having a misconception about it. With proper education, it's believe that people would make better use of decentralized cryptocurrencies like Bitcoin and Ethereum to make the world a better place. Hence, with decentralization comes great responsibility that one needs to have in mind since there's no central governing authority. Just my opinion :)

It is true that people are not scammed because of decentralization.

Decentralization is not made so that people can have their financial freedom, they spend whatever they want as long as they have the money and as long as they are not doing illegal in their country. The problem is that there are people that are using or taking advantage of these to earn money out of people that are also wanting to earn a profit, in other words, they are scamming other people. And then they are blaming Bitcoin, which is not even Bitcoin's plan since it is just crypto but the plan of the individual or group so they can get money out of other people.

Completely agree with you mate. I believe that Decentralization is misused among people within the mainstream world. It brings a whole new level of freedom and liberty, but at the same time some risks which are hard to take by any average person. While scammers exist both in the centralized and decentralized realms, they appear to have a much easier life within the decentralized world. This is largely because, of the open nature of it in contrast to centralized systems.

As such, people easily fall for scams widely, because in crypto land it's still the wild west. There's no centralized, governing authority responsible of regulating such systems. But, with due diligence and proper responsibility, one could avoid falling for scams and hacks altogether. It all comes down to a specific individual whenever he/she uses decentralized systems in a correct manner or all the way around it.

Therefore, decentralization has its benefits, but it comes with a cost which one needs to have in mind before making use of it. Just my thoughts ;D

That is what is actually happening right now. We simply cannot be following all our whims and ideals. That cannot be possible. Either we will be regulated or we would be going down the road of anarchy and disorder where everything might be considered allowed. That is not a good way to live in this world. That is the very reason why governments exist and why there are certain laws and policies everywhere. People cannot simply be left on their own totally free. Cryptocurrency will have to be regulated. That is gradually taking place right now.

No one would got scammed if people will only be wise and knowledgeable but the problem is also the people because they already knew that a project is a scam but they still insist to continue  . idk the exact reason on why they are doing it  and yes if they already got scammed they will only blamed bitcoin  . this why bitcoin will get a bad reputation . 

@op this serve's as an aswer to your question  .  yes people do really abuse the decentralize power of cryptos as  much as fiats  . soon as the adoption grows , the abusers also grow's  .  so watch out

The real essence has been abused because of people miss using the chain, there's no control between human natures, greed kills everything as people around will enjoy taking advantage from others lack of knowledge, if only the real intentions has been used well, we all should enjoyed the benefits of having this sidechain around.

I don't think that it is on everybody's fault for you to blame if somebody losses a money in cryptocurrency. We have decentralized exchanges and wallets, but this thing is in our fault when we lose money. It's because we are the controller of our private keys on our wallet and on our exchange.

Anonimity is the best thing why people are thriving in cryptocurrency. They are anonymous in terms of buying and selling coins, they are gambling anonymously without letters for them to enter a casino. But the thing that is of a concern to all of us are the hackers. Have you ever heard of a hacked exchange? Those people abuse is hard to stop since we need to fight fire with fire.

Thats true, is that a function of decentralization itself, giving anyone the freedom to use it for any purpose.
decentralization provides absolute freedom for all people to carry out their personal transactions, we don't abuse it dude

Some people taking advantage of being decentralization of Bitcoin, some are using bitcoin for their scam or fraud doings, some are also on their Ponzi Schemes. But, there's also huge abuse for decentralization now, that is the Exchange Traded Funds (ETF), but there's also a good side of ETF, it can help Bitcoin to be more famous, but it has also a bad effect on being decentralization of Bitcoin. Read more about ETF here: https://blockonomi.com/bitcoin-etf/

The other day ,it was discovered that a politician in my country has been laundering funds using bitcoin because of the anonymous structure of the blockchain.
Regulation is very good but how possible is that since the blockchain is Decentralized and there will be no way of gaining control in order to regulate it's activities.

Your money, your decision. No one can control you to do whatever you want to do with it, of course theres always an abuse because of people's greed but always remember that "there will be no scammer if there is no people to scam" this thing can happen when all people are careful on their transactions.

Also, think that how every government's abuse us without any of our control because there is no decentralization.

You are right.
Some bad people amongst us are taking advantage of the decentralized nature of blockchain to perpetrate fraud and scam others here.
I really wish there is a way of effectively regulating the cryptosphere ,so at to mitigate this incidences.

Satoahi had a great dream / idea of giving the world a decentralized way of doing virtually everything but then like every good thing on earth, there are always challenges and people who think of ways to turn good to bad. The crypto world is currently filled with people whose sole purppse is to scam and steal the hard earn money of those who desire a decentralized system fully supporting blockchain and cryptocurrency. But then we won't pull out of the great journey we have all started with satoshi, good will always prevail at the end no matter what. Decentralization has come to stay and stay it will. But then we should all be very careful out their in the crypto world especially with sensitive details which could lead to us loosing our funds. God help us all.

Abuse of decentralization is happening around with the use of cryptocurrencies. This is purely on individuals mentality. Not everyone use it for crime or on illegal needs. Not only with bitcoin or other cryptocurrencies, with each and everything there is good and the bad. In my view the percentage of people using decentralization for the bad is very small compared to the rest of the users.

In fiat currency it is called "yahoo yahoo and 419", while in Digital currency it is called "scam and hackers" so the problem of loosing fund is everywhere it is not the problem of centralization or decentralization, i strongly believe that with time there will be a better way of protecting our wallet and that will put a lasting end to the incessant problem of hacking and scamming.

Well change is always welcomed so far as its to reinforce and do away with many negatives going on currently, but many are in the the digital world due to the decentralization and anonymity  which when breached could affect cryptocurrency at large. And also  where will be the central focus.

If you think about it thoroughly the government does abuse us already more than what you think you know before with their centralized system that will tend us to follow because if not we will have nowhere to go. It's not bad to have a change slowly in the entire system, they may have seen cryptocurrency as a threat to them that's why they have to make a way to make people believe that it is a fraud but eventually people will follow the majority of the decisions.

  True, I really love the decentralized system of crypt currency because it is basic benefit of it, if we will use it decentralizing it will increase the worth and importance of it for us, we get the chance of making money, it changes the price and becomes more developed, progress being effective because of price and value change with decentralization of crypto currency.

Mean while I must say, In some other words, when some people are worry about regulation and they actually lost their hope about regulation I only can say some centralized systems are being hack they are being scammed but there is no decentralization, we need to think positive about it so everything will be fine for us, just trust your investment.

I don't think decentralization is to blame here. Greed and a lack of love or consideration of others is the issue.

Regardless of the innovation in technology, there are unloving people who will look to exploit others lack of understanding around it for their own personal benefit.

Decentralization is a system that works in a way without a centralized server so that all computer networks can access the system that is running, so it cannot be hacked, or engineered.
With such advantages there is nothing wrong with decentralization, if it becomes a problem, of course human factors are trying to find ways to be able to implement their evil plans, such as hacking or misusing system usage.

Exactly. That's what the government wants us to think about decentralization. They want us to believe that the concept is flawed without any future, claiming that it's much easier for scammers and hackers to deceive people. However, that's a misconception about decentralization since the scenario is the same as centralized systems. With decentralization, we have the sole responsibility of protecting our funds without the need for a custodian.

This means, that all the risks are attained by the same person who holds the funds. On the other hand, a centralized system's risks are carried over to the custodian or middleman, leaving him/she/they in charge of the security of your assets. In the traditional financial system, we've seen how single points of failure have become a vulnerability for hackers to expose. The same way scammers trick people within centralized systems (via phishing, social engineering, etc), the same happens on decentralized systems.

At one extent, decentralization is being abused because of the liberty and freedom it provides against third parties. As a result, the hacker or scammer's life is much easier allowing him/her to perform a successful attack against any individual. However, if that individual is properly educated about how decentralization works, he/she can secure his/her assets from getting robbed at any point in time.

Nonetheless, it's hoped that people switch over towards decentralized systems, making centralization a thing of the past. Just my opinion :)

People are getting scammed every day even in centralized system. They receive weird calls, being informed about fake stories and asked for money for a lot of reasons.

We should start to be less naively,  otherwise the risk of being scammed is high, centralized or not.

That's certainly true, mate. Scammers are everywhere not only limited to decentralized systems. The only reason why they find decentralized systems to be an easier target than centralized ones, is simply because people are miseducated about them. Since the risk is attained to the user himself instead of the middleman (unlike in centralized systems), the attack surface increases if the user is not tech savvy at all. However, one could be rest assured that decentralized systems are as safe as you want them to be since you're in control.

As such, the best methods to overcoming scammers and hackers in a decentralized world, would be to follow the necessary practices to secure your crypto. Only then we could live a safe world where people are in control without having to worry about many undesired situations that are faced in traditionally centralized systems like Fiat. Just my thoughts ;D

For us maybe, but for some, it is not really.

The technology of Bitcoin is so great, the idea of Blockchain can be applied to a lot of things and these days it is being applied to a lot of new things. Though Bitcoin is not that welcomed to some places, for example, my place wherein Bitcoin is legalized. They are still thinking that Bitcoin is a scam and it might get people arrested. It is really funny and at the same time infuriating but I just let them think what they want, it is their loss.

Regulation is sound look like centralization. Crypto-market shouldn't be regulated by any specific person, government or any other third party. But one thing, regulation would be appropriate for crowdfunding. Crowdfunding and existing market is totally different. So it would be better of world concentrate on crowdfunding instead of regulate total crypto market.

Regulation will prevent freedom and bitcoin has been created for enjoy financial freedom. So intention of creating bitcoin will be valueless. So just say, crowdfunding should be regulated.

There is no abuse of decentralization, and only decentralization can benefit from the opportunities offered to us. As a result of the fact that the advantages it offers to us are seen by the general masses, more widespread decentralization will be benefited.

decentralisation can not be said to be abused in the context in which it is being used. it is in reality to give credence to total autonomy of the financial sector one has. in reality decentralisation gives you power to control your resources and also still keep your identity with other benefits

People are being scammed everytime in any domain of activity so I don't understand why so many people worry about people getting scammed in cryptocurrency world. Scammers are everywhere and they are hungry to find a new method to steal more money from people. Cryptocurrencies have been a popular thing in lst years and they have taken advantage of that because they know this is a domain where they could make easy money. Can't do anything about it, it is what it is.

I do not think we know how to benefit from decentralization. On the contrary, we are trying to make it unnecessary with scam projects. Besides, I do not guess there is place to take advantage of today's decentralization.

Any regulation won’t stop what you listed in the post or maybe by regulation you mean some general rules not made by government but by the general crypto consensus. It has been said many time that we all should be careful of how we flaunt our assets. Rules won’t safeguard you if you are not careful yourself.

People are not getting scammed due to decentralization,  but due to lack of regulation and their ignorance.

However, naive people are daily scammed with fiat/credit cards, so why would crypto be different?

I got your point .  your saying that scams are already happening on the case of fiats even though they are not decentralized  . same as on cryptos , scams/hacking and other illegal crimes are also happening but thats not because of the decentralization . its just people are not open minded and they instantly blame cryptos , which makes crypto even more bader in the eyes of other people  .

Indeed, because basically decentralization is used for people who want to get freedom. and each user uses it properly.
they get freedom without control. thats what the purpose, so we can't mention that it's abuse the system..

The blockchain technology behind Bitcoin, Satoshi Nakamoto, took into account the greed of man, that's why it is a speculative market, of all the history that has been made since 2009, with the market that has its phases of accumulation and distribution.

The market can be studied from the speculative point of view and from the point of view of investors, applying the theories of Wyckoff, Jesse Livermore, some investors like Tom Williams, can apply Warren Buffet's advice to this market.

But the regulation point is not very good, because everything that has been raised could decrease, since nobody likes to control their money, either by government or banking orders, that a third party imposes on them how much money they can move or withdraw. , or even demand the origin of their funds.

I agree.I think having a decentralized system has been a great advantage to most of us because we are given chances to manage our own account without the presence of banks.But unfortunately scammers are also given chances to steal the accounts of others so with this,we should all be very responsible to secure our own accounts.

I believe we are not abusing decentralization but the scammers and exploiters are.  And this is no news, even on fiat currency which is centralized, scammers are everywhere so it is normal to see this kind of event in an anon world.  I am not against regulation but I am much in love with the freedom of managing my own financing account.  This way I do not have to pay 3rd party to take care of my savings.   To those who were scammed, it is their own fault, they do not do their research and I am sure they already learned from their mistakes.

Decentralization is a system in which delegation of commands from a centralized server becomes fragmented on many computers, with the aim of transparency and mutual control between one user and another user.
Decentralization facilitates the control of goods stocks, expenses, price lists, etc. That creates efficiency and suppresses unclear expenditures so that products are made very competitive.

Although we use STO security tokens, it is difficult to ensure that everything is kept safe. To block stolen tokens, we need to verify the authenticity of this before taking measures to block them before any transaction.

Agree. I believe that regulation is "anti-ethical" for the whole cryptocurrency space. After all, Satoshi invented Bitcoin to be free from middleman in the first place. Considering that today people still rely on centralized exchanges and custodians to acquire or sell cryptocurrencies, the vision of decentralization is far from becoming a reality.

Now, the term "decentralization" is used more for hype than something serious for the Blockchain Industry. We've seen how crypto platforms like Ripple and Stellar claim to be "decentralized" when theoretically they're centralized. On the other hand, supposed decentralized exchanges like CryptoBridge are now requiring US citizens to verify their IDs via a KYC process. Which is why, I believe that at some point decentralization has been abused resulting in its demise within the future. Just my thoughts ;D

One of the benefits of centralization is protection from abuse and fraud, but it also can itself lead to abuse and fraud. The key is for investors to take the proper security countermeasures to deal with this new wild west.

The incidents of scamming has nothing to do with decentralization or any other principles put forward by Satoshi. Are you saying that there are no scams with the centralized fiat currencies? Humans are greedy. That's the way our mentality works. We are just one out of the millions of species out there and we have carved out 90% of the planet for ourselves. But what greed has to do with decentralization? Greedy people are everywhere, be it in the crypto domain, or in the banking domain. Or are you saying that the bankers are less greedy?

No matter how we deal with this problem it is and would always be there. That is the exact reason why most of the businesses such as exchanges are actually doing the KYC policy because if ever that this certain attacks happens and when that certain hacker sold their funds  to exchanges then that could be the end of their business.

It is still very hard to identify if the funds that you are getting are actually obtain illegally.

So you mean decentralization is likely to fall on abusive acts? I don't think it's not a fair idea about the meaning of protection mate. And although you think we're protected with our fiat government's fraud people, but it's not guaranteed because we can't really control every person who would transact on those probable fraudulent persons which circulated around the globe. Abusive acts always occurred in so many ways, and even though it's a fiat or a digital type of money a centralized one will always be subjected to be victim of scammers. Decentralization is considered a brilliant currency diversion towards virtual or cashless society. Handling it in order to have safety depends on how a person generally make his funds more safer or rather make it 101% safe.

The fact that something is decentralized does not mean it won't be abused. In fact, in my own opinion, the decentralized power of crypto has contributed seriously to the abuse by many people. This is because when there is no center of authority that takes control and responsible for the problem then everyone will be looking for loopholes. today a lot of projects hide under the umbrella of this decentralized nature of the blockchain to steal investors money which brings more harm to the trust people have for cryptocurrency at large.

And that's the reason why only investors who have a big nerve and willing to take the risk will take the advantage of this system, we can't deny the fact that there's really people who loves to take an edge knowing  that this system can give them benefits, it's a long journey and different insight between
people who believes or doubts this process,.

We need to observed how we stand our positions, believe in your own understanding.

Greed is common, it can't be taken away from one's life. Maybe one in hundred will get out of greed through real life experience. We need to have a system that could eliminate scams, but functional on the decentralized platform. This is quite a hard task, but nothing is gonna change pin pointing the greed of common people. As quoted higher level of scams were taking place through centralized system than the decentralized one. With decentralized system, if he's little knowledgeable he can get rid of scams. With centralized system it is complete traps you can escape one, the next will be awaiting from the one next to you. Whether it is decentralized or centralized we need to be careful in every activity.

I think it's part of our nature to practice and abuse all the freedom and convenience that we have. That's also one of the problem with decentralization, big crimes can be committed and concealed thru decentralization. Nobody knows whether if huge illegal funds were transferred thru cryptocurrency since it is decentralized.

Agree. Because of the freedom decentralization provides, many people have abused it in many ways. As such, scammers and hackers have taken advantage of the situation to spread mistrust among everyday people. Still though, the same thing happens with centralization which leaves no excuse for anyone trying to associate decentralization with bad stuff. In the bright side, being decentralized gives you control over your money which means that you can take the necessary measures to further secure it.

The main issue is miseducation about how everything works in the decentralized land of crypto. Once people are knowledgeable of the situation, then they could easily avoid getting scammed by protecting their funds in a proper way.

Nonetheless, I believe that decentralization will take over centralization completely in the future as people realize its true benefits. Just my thoughts ;D

There is always an abuse to the use of everything we cant stop it everyone has a choice if one person choose to abuse a thing there is nothing you can do to stop that, its just either dont do the same or do the same for your own sake.

Decentralization is bringing enormous value to the world, but we also have to see it in proper context and understand its limits. We need to understand the advantages and disadvantages of decentralization, and also be mindful that it is not proper in all things and organizations. There are regulations for a reason.

Decentralization is not being abused if you ask me it is rather the security that is being tempered with and those who fall prey to all those schemes are newbies who fail to read more about how to safely interact and make transactions in this community. Decentralization however has not been fully achieved on most blockchain networks and that is exactly why i love the Proof-of-Stake consensus protocol being used on any blockchain network.

Scammers and fraudsters are present everywhere, as greed is embedded as a basic character in the human behavior. Decentralization has nothing to do with it. Satoshi invented Bitcoin as a tool to end the exploitation of the common people by the central banks. If someone is using it for criminal activity, then we can't blame Satoshi and his invention for it.

Yeah we can't blame satoshi but still that doesn't change the fact that these selfish, greedy people are using this feature to their advantage. That's why i think we should be too tight when it comes to having regulations applied since we can't control people abusing it. Yeah we can't avoid such abuses even with certain regulations but it's still better than doing nothing at all.

You guys all make a good point cause we can't definitely blame Satoshi and his invention for the greed of using it by some people. However, don't created Bitcoin just because to end the exploitation of the common people by the central banks but to give the masses the financial freedom and some kind of regulations board is what we need to tackle the abusive way of using the blockchain I don't see anything bad in it but we must make sure the regulation won't also take the advantage of the process either.

The question is who will make the regulation and who will implement?its easy to say each idea but what will be the implications?
But i am very awaiting for the regulations because this is the only way for bitcoin to grow further and with the help of government intervention,lets make things appropriate and accept the reality that we wont win against government

There is no such thing as abuse of decentralization, if in the first place bitcoin was made with decentralization. If there is anyone who abuses power here, I think it is the people who requires unannounced KYC in order to receive the bounties. Decentralization in cryptocurrency is just normal.

Blockchain is a decentralized platform and helps everyone to use and own it. But for Cryptocurrency hierarchy gradually disappears, you can own Altcoin, but your rights depend on the number of Altcoins you own.

Exactly. Decentralization has not been abused itself, but rather tampered with. Since there's no central authority to regulate the entire Blockchain network, it's sort of the wild-west where anyone can do as they please. Which is why, the openness of cryptocurrencies brings a lot of bad actors into play. Knowing the risks of decentralization, should make you precautious when dealing with crypto transactions.

As a responsible person, it's your duty to secure your funds as much as possible against hacks or theft. There's really no way around it. The same way centralized systems experience hacks and many other undesired situations, the same way happens with decentralized cryptocurrencies like Bitcoin and Ethereum. The only difference is that the responsibility lies within yourself (in a decentralized system), instead of a third-party or middleman (centralized).

In terms of achieving full decentralization on blockchain networks, it seems to be practically impossible. One way or the other, consensus algorithms have a certain level of centralization within them. In the case of PoW, there’s centralization of power among mining pools, while in PoS, the rich become richer.

Nonetheless, it's hoped that Bitcoin and other major cryptocurrencies become as decentralized as possible to prevent censorship or single points of failure from malicious actors. Just my thoughts ;D

No we are not. This is just right. Satoshi wants decentralization so we are doing it now. People who get scammed are the people who are not careful about what they are doing. They should research before investing in such ICO or something. It doesn't affect our relationship with the decentralization.

You have to accept these things. Because everyone has to be careful and wise about investing matters. If you choose an honest and real project, you will have zero percent scam fear, but if you choose a random project without a proper team or vision then you will be affected by the scam, so, it's all about you! Regulations can protect users from the hacker or scammers. But do you think if a strong regulation come in the crypto industry, Satosh't vision will be fulfilled? Don't you think regulations would kill the total crypto's decentralized nature?

I can say, its not really abused, rather it was being taken an advantage by criminals. Being scammed isnt something that'll happen without any wrong or mistaken decisions and actions done by the scammed person's edge. Decentralization has been used how its being designed by Satoshi from the start up until now. Sadly, in every investment platforms or any other platforms that involves money, criminals always find something where they can take advantage of.

Most of us dont abuse the decentralization of bitcoin but there are some who uses its feature to steal peoples money and use for money laundering.They are taking advantage of bitcoins anonymous transaction and decentralization they are feeding and leeching peoples money

Some of the people are abusing the decentralization that the other cryptocurrency are offering but for the majority of the user of crypto, I can say that we are not abusing the decentralization, we are really grateful of the decentralization because it helped us in a lot of ways and i hope that crypto will be consistent in improving and giving us a lot of advantages.

Added to that, there are many bulk holders and they pretty much drive the price as well. This also defy the decentralisation aspect. The low volume and extra regulations are not healthy for crypto space. But this is likely to change in future with more adoption both at personal and business levels.

These regulations are not hampering the decentralisation aspect of Bitcoin. No one owns or control bitcoin and that is enough for decentralization. We are living in a highly controlled financial system which will doom eventually. Bitcoin gives us financial freedom and in future more people will understand this.

Yes, we are! Because crypto will not be accepted widely without regulation! Without mass adoption, the crypto market's aim will not be fulfilled too! Therefore, Centralized exchange has a higher volume than decentralized, so, we are doing KYC to buy ICO coins, we demand the project team's live AMA or kyc! So, by doing all of these things, we already break the decentralized nature of crypto. But I don't think it is ruing the Satoshi's vision. Because these things are needed to bring more people to the crypto! 

I would second that. There were instances when I was denied the rewards after my refusal to undergo last-minute KYC. Rather than using it to remove the scammers, nowadays KYC is widely used to cheat bounty hunters of their hard-earned rewards.

It's depends on users how they use decentralisation and where they use it. Some of people are abusing decentralisation on the wrong way such as scam, cheating etc. Basically it's depends on us how we use or abuse decentralisation. Everybody know what happen with cryptocurrency in last year. Not only everyone but also few people's are abusing decentralisation.

Freedom is important than abusing. Because freedom is a universal value that everyone loves but abusing depends on individual values.

I see KYC as a good way to avoid abuse or cheating. KYC are good for bounty hunters because they know that there is a fairness in the bounty campaign such as signature campaign, social media campaign and so on because it is like having more chance of getting a higher reward because there is no way that a person can cheat in KYC since they need to submit some documents.

Most likely that who will implement this regultion is the government,if the government somehow take control over bitcoins or bought the network from "Satoshi" then it can easily be implemented.

that is so interestıng, bıtcoın born as decentralızatıon but day by day ıt becomes more central through exchanges lıke bınance,

all crypto coıns tells decentralızatıon but all crypto coıns tradıng at central exchanges :D thıs ıs so funny  :D decentral world tradıng ın central world , also another funny thıng people talks about decentralızatıon but they dont stop usıng central excahgens, also they become funs of central exchanges whıle they talkıng about decentralızatıon :D

Do you believe that KYC is good for bounty hunters?

There are a number of bounty campaigns that had made KYC mandatory for the participants here in Bitcointalk. As far as I can see, they haven't fared any better when compared to the other campaigns. With so many KYC documents being made available on the dark markets, don't you think that the KYC requirement can be misused?

there is abuse in our economic system ,there is gap in banking system too.people abuse by finding holes in the system.bank defaulter also abuse the system of modern banking system in many country's.so don't blame the decentralization system of bitcoin.the bad guys always abuse if they find holes in the system.

Everything has its downfalls or weaknesses that gives opportunity for the abusers. Its regulated by knowledgeable individuals and abused by another knowledgeable abusers.

That's ridiculous mate, they are all knowledgeable in different aspects..everything have its own contrary and we can't stop them.
Decentralization give us freedom but somehow it feels like that we are still lock up in cage and can't move freely cause there is something controlling our works. And even we wanting to have huge increase but still it won't. 

A lot of these newer coins aren't even decentralized, we have stuff like EOS and Ripple which kind of go against what bitcoin stands for.  They still might be great investments but they are fundamentally different from the early days of crypto.

I have heard a lot of criticism against Ripple. I agree with your argument that it is fundamentally different from the other cryptos. I never had XRP in my portfolio, because it looks a lot over-priced. And on top of that there are doubts about the total supply and circulating supply. Don't know much about EOS. Actually surprised to hear that it is similar to XRP. 

Decentralisation is the point that makes bitcoin safe. It prevents that the blockchain is altered. So exactly this point prevents abuse.
Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.

Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.

But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.

Yes indeed, not to mention the illegal transactions and purchases which intends to hide (criminal activities) identity behind anonymity. Unfortunately, crooks will always find ways to abuse anything at hand. Regulation might reduce the number, but soon enough, with all technology available, they will always find ways to work around it.

Regulation always sets a precedent, some of which can be extremely dangerous. There are often times where "acceptable" regulation allows for more severe infringements in the future. The question is where you draw that line, and in almost every case I have seen, outside of some form of professional/safety regulations, it is almost always a bad thing to have a government involved in regulating anything outside of safety measures for economic activity. While I can agree that there is an issue within the community when it comes to having websites shut down without warning or a getting scammed, that's just a fact of life and there's nothing that can really be done about it. Sure, you could "regulate" these activities, but how would you even go about doing it? The concept itself is ridiculous, especially in a pseudo-anonymous and trust-based community. You can't regulate something that has those characteristics tied to it.

No I believe but there are coins which are decentralised in nature which can be against other centralised but decentralised nature help the growth of coin rapidly and gives good  broad features which can help the growth of coin in the market.

I think you are suggesting regulation of Crypto. Well, as for me, if it will really help all the people and the crypto community will really benefiy from it. I suggest that we should have thorough study about the system and how it can be regulated. All rules should be clear though I'm sure that there will be gray areas. I hope it will not be abused by corrupt officials in the government and the like.

Suggesting regulation wont solve the problem though may somehow reduce the risk of loosing money. The truth is whether regulation rules are introduced or not scammers will never give up, they will look for a way to scam people and move with their money. We are our own best security. Let's be very watchful and careful with vital details and also observe closely before making any crypto investment

There will always scammers no matter what technology is out there. We need to educate people about the ways to protect themselves rather than regulating the environment.

Even with decentralization or centralization we can't still avoid abusive people. If people really want to use it for good then they will only use it for good but if people want it to use for bad things then they are going to use it for bad things even though there are restrictions from it. People will always find ways to execute their plan no matter what type of restriction.

Yes I would agree some form of regulation needs to be work, simply with exchange have to be responsible for user funds in case of hacking or theft, other than that it's simply your own self is known on a completely anonymous blockchain, even millionaire got Rob by insiders so does crypto, thats another thing to consider but decentralisation is not the one to blame

It is actually good for Bitcoin to be free from regulation, its value will not be influenced by people who intend to destroy Bitcoin.

Anything that we abuse too much cause a danger to us. We need also to control decentralisation because it will become a disastrous if there is no more government power. If the people will totally become independent, scamming and hacking may scattered. It might be also difficult for the victims to see the anonymous criminal. That is the disadvantage without the government.

Decentralization was itself brought forward with a concept that there won't be any need of regulation in the economy as people would be able to manage themselves and control their own finances. But some people have used this in a very poor manner. This has made us rethink about the prospects of regulation in P2P network too but inculcating the same would be a very challenging task. Moreover I am pretty damn sure that this problem would become a major issue in growth of btc as people want safety first. We are really abusing decentralization a lot.

Valid point, but this is true for any technology or change. We have seen this happen multiple times in our history. There will always be scammers who will try to con you. Also, scammers do not understand the technology but want to make money through gullible people.

The original idea of ​​decentralization is very good, the problem is that to date no cryptocurrency has achieved a practical and massive use, then the large companies that are participating in the different projects centralize their use, as we see it with whales mining, ordinary people can not compete, the day when people can use cryptocurrencies from the purchase of a newspaper until the imports of a fleet of vehicles, then we will see a true decentralization, over there we go, that's for sure.

I think the main challenge faced by decentralization is based on the fact that most cryptosystem conceal their actual objectives. Easy prey fall readily for them thinking they are making progress in terms of bogus profits they offer. Most newbies are their easy prey. So, the only option in making a choice of investment is to look out for a complete decentralized system in order not to be scammed.

Well, regulations are not bad for the Blockchain Industry and they don't affect the decentralization of many cryptocurrencies whatsoever. However, when there's too much regulation, it could be harmful for the growth of this industry in general. The banning of a specific cryptocurrency within a country, prevents it from being used more thoroughly at that region. Of course, the decentralized nature of crypto allows anyone to still use it, despite the restrictions of any government.

Despite this, too much regulations and the complete dependency of centralized exchanges would prevent Satoshi's vision from being fulfilled at all. We've seen many projects announcing that they're decentralized (like Ripple, and even Steem), when in theory they're not. In this sense, the term "decentralization" has been abused as it's been misused for greed and profit, instead of being used to deliver real use cases for the world.

Nonetheless, time will tell us whenever decentralization can be fully fulfilled or not. Just my opinion :)

What do you mean by saying or thinking that we are abusing decentralization? No one is abusng the use of decentralization in relation to cryptocurrency. Decentralization and cryptocurrency is in fact providing people with financial freedom making it easier for them to make transactions online faster with lesser fees. People who don't understand how cryptocurrency and blockchain technology operate are those who think we are abusing decentralization.

There is no denying that decentralization could be abuse due to no one has control over it. Illegal activity could be accomplished anytime and anywhere they want without anyone knowing. Bitcoin could be used in any form and sure just like the normal currency, it could also be used in abusive activities. This is why there should be some kind of regulation to balance the problem.

No decentralization os one way to stop abuses especially on high transaction cost from.the banks especially when you do volume of transactions. These bankd get huge money if there are like volume of money transacted to which they will have more or less 5-10% of the transacted money will be deducted in a form of transaction fee.

Now if this is being decentralized then there is no point on one getting abused for this is peer to peer and if one abuses the system then you may not proceed with the transactions.

regulation and decentralization seem like an odd mixture to me...
the closest thing to it is the BIP

No matter how sad it is, but all good things in this world somehow pass through severe tests. Decentralization now often resembles the no-GMO label on food, a marketing tool

Everything comes with good and bad its how we use it that matters?so why should decentralization be any different.

Most bitcoin stolen from exchange were from centralized exchange. Culprits remained anonymous due to decentralization of bitcoin. People who are into illegal activities are surely enjoying this attribute. That is why some exchange are starting to comply with regulation and tightens their security with mandatory KYC.

Well, in this kind of industry greedy people is everywhere yet stealing someone's money is inevitable here especially that this cryptocurrency is decentralize. As a matter of fact, even in centralized community it's still happening hence, all we need to do is too keep knowledgable all the time in order to prevent our money to be stolen. In every industry we embark on especially on the  presence of money or investment there will always be a people who will abuse their fellowmen.

You have a point there. You can't blame Bitcoin or the decentralization for issues like dark market and ransomware. These were not the intended uses of Bitcoin and we should rather blame the individuals who use Bitcoin for these purposes. In case Bitcoin is not available, then these people will just shift to another medium for their criminal activities.

Greedy people are everywhere and we could‘nt blame them because it has a freedom to use infact we need to accept because not at all is perfect,decentralization now was getting broad in crypto because as i said it has a freedom to use and the things that handled by decentralization was depending on whoever uses it.

Regulation is not the solution to this problem.
Greedy people are and we need to eliminate them. Those greedy people will always be a problem and they will feed the scammers and those abusers of this decentralized ecosystem.
This liberal system is not at risk, but people who trust anyone who offers easy money makes the system at risk.

I think only bad people who use bitcoin as one of the crimes like what happened some time ago, the attack spreads through viruses that are spread through the internet and that is an action that makes bitcoin have a bad image among the people.

No, keep everything decentralized as much as you can, if you google that word it`s description is not so good, so a better term is censuses of entire network.    

decentralize:
transfer (authority) from central to local government.
"Canada has one of the most decentralized governments in the world"
 move departments of (a large organization) away from a single administrative center to other locations, usually granting them some degree of autonomy.

Infact it should be a consensus of the entire network, a true democracy, not a representation of one like we have in Canada.

100 people in a gym and we elect Joe and Sally to be representatives for us.
Joe wants to play hockey in the gym
Sally wants to play basket ball in the gym
98 others want to play soccer in the gym but can`t because they voted people to vote for them

Why not just vote on the issues at hand? then 98% of the people will be happy playing soccer.

https://imgur.com/haz02ll
 

 

Why do you need daddy to wipe your bum bum still? I think we are big boys now.

https://www.youtube.com/watch?v=orGDoXo7xKA

yes people will certainly not be satisfied with what he has other than that also with the decentralization increasingly makes hackers and others safer to steal data and cryptocurrency that you have. so we still have to be careful about sites that we visit especially those that are decentralized like that

Crypto billionaire have come to have such a hight amount of centralized influence and power over the decentralized space. They make anti-commnunity decisions. This defies the essence of having a decentralized space. Cz_binance recent delisting of BSV comes to mind. The crypto world is still heavily centralized.

Decentralization without responsibility, accountability and good regulations can be an invitation for people with ill intentions to exploit the system for their own good to the detriment of the greater population. And we have seen this sadly especially last year when scam and failed projects exploded before the very eyes of the cryptocurrency community. This abuse has to stop otherwise the whole industry can be reduced into a big joke which can make its future somehow bleak affecting people who labored for this industry. I have been saying this all along: The whole industry has to be doing something concrete to address this problem.

Cryptocurrency is becoming tough and becomes a battle for all investors. You have to be stronger, smarter than other investors to make a profit. Many of us have chosen to cheat to usurp Crypto from others. Many wealthy people take advantage of decentralization to speculate and control the market the way they want. Decentralization and anonymity are making the market badly manipulated.

Unfortunately, greed is one of the most widespread vices. All our life we ​​build primarily around money. They rule us. Of course, there are people who put other things above everything, but I think you will all agree that living without money in the modern world is almost impossible. Moreover, each of us wants not only to survive, but to have money for good things that will simplify our life, rest and entertainment.
In an ideal world, everyone could manage their own lives and their money - this is what Satoshi wanted. But in our reality, things are going differently.

Decentralization avoids the abuse of power from central authorities. All participants have equal power and can’t be forced by anyone else to do anything.
However, this comes at the cost of every participant taking on some responsibility themselves.

thats a great ideal bitcoin is designed like the perfec decentralisation ninja star but after that purpose its harmful, chinese urban centeres suffer massively from bitcoin ressource waste.

That's certainly true, mate. In the decentralized world, we're the ones responsible of making the Blockchain a better place. Whereas centralized systems the responsibility lies within the middleman or third party, they're much riskier than decentralized ones. Given how beneficial is the decentralized realm, most people tend to abuse it. But, it's important to be aware of the risks involved in decentralized systems to stay away from them as much as possible. Scammers, and thieves will always exist on both ends (either decentralized or centralized).

With proper education one could easily avoid the misbehavior of many individuals in this land of the wild west. Regulation is coming in slowly but surely, into the crypto space. Which means, that sooner or later things will be under control within crypto land. Just my thoughts ;D

Catch a man a fish, you can feed him for a day.
Teach a man to fish, he can feed himself for life.

The less laws, The less regulation, The more people will be forced to take responsibility for their actions.

We don`t want wooden Pinocchio`s Forced to run around blindly getting pulled by our strings.
We want real men and woman Willing to run around with their eyes open.

http://justsomething.co/the-22-most-ridiculous-us-laws-still-in-effect-today-2/

I don't understand why everyone is getting so defensive here. Just like there are criminals who misuse the anonymity and decentralized nature of Bitcoin, we have conmen and scammers who take advantage of the anonymity being offered by physical cash. But is it right to blame BTC or cash? They are just a medium for making payment. Just because 0.01% or 0.02% of the users utilize them for illegal activities, we can't really blame either the currency, or its basic characteristics. I say, go after the criminals who misuse Bitcoin. You are not going to gain anything by treating the syndrome instead of the disease.

Decentralization is a system that optimizes work units to all parts in a computerized manner so that control can be carried out by the unit in real time, so that it can suppress errors or waste.
The implementation of decentralization will ultimately improve efficiency because decision making can be delegated to work units without the need to wait for central policy, with the note that it is still within the company's peratutan corridor.

Exactly. That could be the reason why it’s still the wild west on most cryptocurrencies. Their decentralized nature allows anyone to do what he/she pleases without hesitation. However, with a proper regulatory framework in place, the number of scams, theft or fraud can be reduced to a minimum. As such, there needs to be a balance between regulations and decentralization. Otherwise, too much regulation could be harmful for the crypto industry as we know it.

In the centralized realm, hackers and scammers are also present. But they don't appear as much as in the decentralized realm, because centralized systems are fully compliant. Still though, as crypto land matures, we'll be able to see more law enforcement from governments worldwide. Only then, people will stop abusing decentralization bringing a calmed environment to the crypto industry.

Nonetheless, the time will come when people will realize how decentralization behaves, allowing them to take proper responsibility when dealing with cryptocurrencies. Just my thoughts ;D

Agree. Not everything needs to be decentralized. However, the "Blockchain Hype" has caused many companies, businesses, and individuals to come up with a solution for everything based on Bitcoin's innovative technology. We've seen how different platforms like Ripple and EOS claimed to be "decentralized" when theoretically they're not. XRP is largely controlled by the Ripple company, as it owns a large number of tokens on the network. On the other hand, EOS is centralized in the way Block Producers had frozen several accounts on the network (within its early days).

I believe that companies/startups have gone too far making people believe that an specific cryptocurrency or blockchain project is decentralized, when in fact, it is not. But, it seems that most people don't care since they're mostly into crypto because of the money. Scammers and hackers have seen this, which is why they tend to attack people in crypto more thoroughly because of its decentralization.

Nonetheless, it's hoped the hype will be over as time goes by. Which means, that only truly decentralized crypto projects with real usability will survive in the future. For the rest, it's up to people to truly understand how decentralization works in order to prevent many undesired situations. Just my opinion :)

Decentralization is a broad topic which is practiced not only in crypto. Perhaps, OP should have narrowed the concern down to either the abuse of cryptocurrency or Blockchain. Scammers are taken advantage of the idea that crypto is a free market without any centralized authoritative body keeping checks on transactions and the entities behind transactions.
This is why each investor must assume full responsibilities of every action undertaken because it requires extensive research into projects in order to ascertain the authenticity, capabilities and potentials of the project or coin before investing or joining the project.
With time the level of scam projects will reduce because many platforms and exchanges are putting measures in place to check for the true identity of participants through KYC and AML.

Right, there is a saying "if someone kills with a knife, don't blame your knife" I think that's the correct statement. in this world not everyone has positive and good qualities and activities. so don't be surprised if there are bad people who abuse decentralization, but then don't blame the system itself?

Decentralized is being abuse is so many way as whales in the market are not really making the decentralized what it is and the market situation is also not really helping it at all but the exchange and the project collecting data's of every investors are not helping the situation.

We still have a choice, right? A lot of the ICOs ask for KYC information, and that goes against the spirit of decentralization. But then again, it is our choice whether we want to participate in those projects or not. But always remember that these projects don't have any association with Bitcoin, other than using it as a medium to raise the funds.

The intention was to help the general audience by using the system without any intervention coming from any centralized industry, but since it's for everyone there is no control about how others will come and used the system,we don't need to generalized the majority as it's open to anyone who understand the chain, let things happen and learned from it.

Decentralization has its negative sides, but many choose it. Those who abuse decentralization are people who can also deceive others in real life. So we just have to be smarter, and I think we can stay that way without centralization.

Some people came to blockchain just go get rich quick while others actually believe in the real principles of decentralization.  It is all about being in complete control of your money and no one can take it away.  this is the opposite of a traditional bank, they can do whatever the government tells them to do with your money.

That's certainly true, mate. Unfortunately, the mindset of many people within crypto is to get rich quick. They're don't care about how useful the technology is for the real world. Either centralized or decentralized, people tend to join the next big thing in crypto. Some projects have even claimed to be decentralized, when theoretically they're not (like EOS and Ripple). Which is why, it's important to research various cryptocurrencies in order to determine which ones are decentralized and which are not. The wide misconception of decentralization, has caused many to abuse its power. Scammers, hackers, and other malicious actors have been rampant in this field more than in the centralized realm.

However, knowing that decentralization brings us freedom, should gives us a sense of being more responsible than never before. In the end, it's just a matter of choice, whenever people remain in the centralized realm (where Banks, governments, and big corporations are dominant) or switch to full decentralization altogether. Just my thoughts ;D