[where there is no law, there is no sin.]

Like the saying goes, where there is no law, there is no sin.

This is why the crypto world has been plagued with so much frauds and scams. The scams in different crypto affairs from ICOs, to bounties, airdrops, mining, etc have continued to be on the rise.

Studies have also shown that the number of scam or fraudulent ICOs in this year 2018 alone, already exceeds the record of all previous years put together. This unwanted record is likely to continue into 2019 and beyond if nothing is done to checkmate it.

I am also bothered that if the series of frauds are not checked, then the cryptocurrency concept which is still striving to gain more grounds and reputation may be dead without us realizing it. This frauds has also caused a lot of ICOs longer time than necessary to complete its token sales no matter how realistic the project might be.

Much ado about the talks that regulation will end decentralization. I don't believe so.

There has to be Global Regulatory Authority which all ICOs or crypto related project must pass due diligence test before even commencing any form of bounty and token sales.

I believe this will reduce greatly the frauds or scams and give more confidence in cryptocurrency, and consequently more investments.

What are your thoughts on this?

Wake up! Come to reality. This is 2018, yet you still wish you bought Bitcoin below $0.01 in 2009. The truth is that you will never be in the year 2009 again till you die, and Bitcoin will never be below $0.01 again. You just have to focus on today and the future. I am also sure even in future when Bitcoin would have reached a far more higher price hopefully, People will still wish they bought at least in 2018. So therefore, be grateful to whoever introduced you to Bitcoin today, and also accept that you joined cryptocurrency or Bitcoin at a time your creator wanted you to. Make the most of it now.

[any token to be created should bring in something new]

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Finally, the ETF application for Bitcoin got rejected by the SEC. The market has remained the same. No drop in prices or whatsoever. So, why did people over hyped the ETF and almost made it look as if everything will collapse if the ETF is not approved?
There was no ETF approval for Bitcoin in December 2017 when Bitcoin recorded its all time high of $20,000. We should not over give credence to something when there is actually no real reason to. I am sure the experienced Bitcoin investors were never bothered about this ETF of a thing.
I guess we all are wiser now.

[You must leave a means or trace]

Yes! You need to protect your wallets against any possible theft or hacking. You must protect your private keys and wallet passwords. This is a must for everyone, else your coins will be stolen.

The frequent warnings of ensuring you protect your private keys from anyone seems to have eaten too deep into almost everyone of us in cryptocurrency. Some of us have forgotten certain realities of life and cryptocurrency wallets which I want to warn you about. My warning is mainly targeted at anyone who has a family, or at least, a child. You must leave a means or trace that your family will be able to access your wallets when you are gone. I mean when you are below 6ft. Each one of us will die some day. No one wants to hear this, but it is the absolute truth. If you suddenly die today with your secret keys and passwords unknown to your family, your coins are lost forever. Your crypto wallet is not a regular bank, so no way your family can claim your many crypto wealth online.
Don't be selfish. Your family or wife or children must not suffer when you have so much Bitcoin or other coins trapped in an inaccessible online wallets.

Remember your family and loved ones.

You have a very strong and uneasy decision to make today.

[then there should be NO KYC.]

I am going to be very honest here with you guys. I know some of you may antagonise or kick against my view. But I will still speak the truth as it is.

My major reason centered on the fact that there is no regulation for cryptocurrencies.
How can someone somewhere in the name of ICO project team, whom you don't even know, some without a verifiable office address, whose presence is just online and the internet, demand your sensitive information including your international passport, government issued ID, proof of your residential address, and other personal information or documents?
What if this person is just a scammer? What if this person works for maybe a terrorist organization who is just looking for real biodata or identities? What if this person is just a criminal looking for ways to fake his own identity and take upon yours or anyone else? What if your verified photograph (face) matching your identity is used in pornography or nudity? What if the data is accidentally leaked? My questions go on and on.

Remember, the cryptocurrency as it is currently has no regulation, as such there is no regulatory body or authority you can petition your grievances or seek redress should any of the aforementioned incidences happens to you as a result of the information you have forwarded. The ICO project team whom you sent your details can as well disappear without trace.

Therefore, as long as there is no Cryptocurrency Regulation, then there should be NO KYC.

[safety factor]

I have read several posts on this forum where people have claimed to have invested all the money they have on Bitcoin, I also read a post where a guy claimed to have used all the $20,000 his uncle gave him to also invest in Bitcoin, some even sold their landed property. The reason for these risks and others is the firm believe that Bitcoin would be $50,000 - $100,000 by the year 2019 or thereabout.

First, I must say that I admire the courage and high risk appetite of such persons. But, I must also warn.
Yes, It is good for everyone to have high hopes for Bitcoin, and also hope it gets to 100k USD in future, but you should also consider a safety factor in anything you do including investing.

Mathematically,

DO NOT Assume,
P(Success of future term) = 1 ; and
P(Failure of future term) = 0

This implies that, you must always leave a little fraction for probability of failure which in this case is the safety factor, no matter how little the fraction may be. Simply put, you don't have absolute control of what happens to Bitcoin and Cryptocurrencies in the future.

Invest wisely, only invest what you can afford to loose

Just a piece of advice.

What are your own suggestions?

[I believe with hard work, perseverance, dedication and will to learn from the more experienced members of the forum, we too can get promoted someday.]

I know most Newbies and Jr. Members of Bitcointalk forum have always wondered and asked themselves so many questions. Is there any hope for me to ever become a Member? or Full Member or the much advanced ranks - Senior, Hero or Legengary? Most of us have always been in a state of continuous dilemma. Some have given up hope believing it to be a daunting task. Yes, it is not by any means easy considering the fact that you will be appraised based on the content of your posts and merited accordingly.

I want us all to know that even the Heroes or Legends of the forum were once like us. They once faced similar challenges and also asked similar questions. They toured the forum, learned from other advanced members, made a lot of researches and authored a lot of meaningful posts on this forum.

I believe with hard work, perseverance, dedication and will to learn from the more experienced members of the forum, we too can get promoted someday.



Edited:
Please, if you are an Advanced or Experienced Member of the forum, kindly assist those coming up or below you. You can encourage them by meriting them on Reasonable or Meaningful Contents and also providing them useful tips to succeed in cryptocurrency. Thank you for the kind assistance.

I think Mark Zuckerberg has gotten the message. Facebook was at risk of loosing out. No doubt, it is currently the leading social media platform in the world. If you come to think of it, most of the persons strongly against bitcoin and cryptocurrencies are the elderly people maybe in their 50s, 60s, 70s or 80s, who often find it difficult to adapt to changes or new technologies.

Most of the youths maybe in their early 40s and down to the teenagers of say 16yrs are not against bitcoin and cryptocurrencies. In fact, I am sure over 95% of the airdrop and bounty participants fall within this category.

Now, let's do a brief analysis of the active users of Facebook or its main target audience. You will agree with me that most of these elderly people who are against cryptos hardly use the Facebook. In fact, some of them have their teenage children access and post comments on their behalf. The true audience or active users of Facebook are the youths, who constitute over 90% of its global active users, who are no longer just contented to open their Facebook to upload pictures or view friends pictures and comments, but are now more interested in posting bounty tasks or airdrop referral links. These are still the audience whose future of Facebook depends on. If Facebook no longer meets their purpose, they would opt for other emerging social media platforms that are very much open to crypto activities. By so doing, Facebook may be out of business on the long run.

Do you agree with me on this?

[Mistake 1:]

Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.

Mistake 2: Whenever you have the opportunity to meet a wealthy or an influential person, never you ask for money, but rather ask for ideas or ways which you can grow your own business. That will make you a more purposeful person.

Mistake 3: Never you spend money you haven’t received or expecting. In other words, do not buy anything on credit because Mr. A has promised you certain money, or that Mr. B will pay you the debt he owes you. It might make you to run into debts should the source fails to pay. I hope you understand this point.

Mistake 4: For proper saving, do not attempt to save what is left after spending, but rather spend what is left after saving. Like you already know, human wants are insatiable, as long as you have the money, you will always have something to buy. Also, never you keep any money you are not going to spend on short term handy or within easy reach. It is best to keep it safe away.

Mistake 5: Do not sign as a guarantor to anyone on financial matters unless you have enough or are willing to pay any misappropriation or money that may arise from the person’s misdeed. THIS IS VERY IMPORTANT. It can cause you problems.

Mistake 6: Do not consistently spend more than you earn or spend all that you earn. You may not have anything for the rainy days or at retirement.

Mistake 7: Do not spend more money on an item you can purchase same for less within the same neighborhood. It is not a wise spending.

Mistake 8: Never you borrow money that accrues interest to start a business. That will put you undue pressure as you will be working to service the debt and the accrued interest for a long period of time. It could be frustrating especially if things are not as perfect as you would have predicted.

Mistake 9: Do not starve your family or fail to take your child to the hospital SIMPLY because you want to save the money you have for the future. It might leave you in regrets.

Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.

Which of these mistakes do you think people are guiltier of? Do you think there are other mistakes not included here? Please share your thoughts.

The Organicco ICO Project has come to rescue us from the continuous danger being posed by the environmental degradation.