[7 Days to Vegas]

7 Days to Vegas

If you have seen this movie then you would love what gamblers would do just to win about everything! The best movie I've seen about gambling so far! Share us your thoughts.

Note: Did watched it on Popcorntime.

Source:imdb

Ever since I've got into cryptocurrency, I've had several experiences on the  prices on some of my holdings achieved ATH's in a matter of months alone especially on the 2017 bull market and was thankful I didn't sold out early when I got them. Having had a positive feeling about it, I became reluctant to sell some of these cryptos even at the height of its price thinking that I may gain more from them in the future and also believing that this projects have very good fundamentals and does have a room for growth!

Then at the beginning on the 1st quarter of 2018 (which started the period for bearish market), crypto prices nosedived sharply and in a matter of weeks my portfolio begun to shrunk and was reduced significantly but then again I was overpowered by my belief that crypto will have an eventual rebound in which I was wrong! Over a period of short time, I was forced to sell those cryptocurrencies at a significantly lower price and accepted my loss which led me to believe that hodling is indeed a form of gambling and thus has a risk / reward factors associated with it.

Until now, I don't have any regrets but only have lessons learned from this experiences and will remain having a positive outlook on cryptosphere because I know gambling will let us "win some and also lose some". 

I know some of you had already been on the same kind of experience just like me.

There has been a revival of activity on some projects who had gone cold with little to no activity on their different media channels during the crypto winter - leaving their own communities clueless on the status of these projects. I thought it would be good if the crypto-community would be more aware of this because it could be a red flag and a sign that these projects don't really care about their stakeholders.

         Over the last few years, the crypto-community had experienced different forms of SCAM crypto projects doing ICO's in order to defraud unsuspecting investors and supporters which I think would have discouraged most of them towards openly embracing blockchain technology particularly on field of cryptocurrency. This fraudulent activities had resulted to significant amount of hard earned money being lost with little chance of recovery but rarely we've seen indictments for those who are responsible for the reason that most proponents or core members of these SCAM projects have used fake identities and addresses as an evasive strategy thereby making it more difficult for authorities to identify and pursue each and everyone of these perpetrators and held them liable under the rule of law.  Although there has been some cases of previous crypto frauds where the perpetrators had been brought to justice - due in part that their identities were known, still there are considerable number of SCAM projects out there waiting for the right time to take advantage of other people's weaknesses.  Additionally, these bad actors are often brazen in committing these illegal acts due to the fact that their real identities are often unknown to the public and there is almost no way we could really identify them personally.

        Another interesting fact is that I've seen some project's core members being tagged as KYC verified or had passed KYC by ICO rating sites which I find doubtful since these ICO ratings sites are not transparent enough on how they do their KYC process even if they stated that they are conducting it with the help of a KYC provider but of course, most of them are paid sites and possibly could give favor to certain projects due to monetary considerations or maybe they have other vested interest over that particular project.

       In this regard, I think its now about time that the crypto-community would altogether stand up united and demand that every crypto project's core members or top management should at least pass a mandatory KYC utilizing the industry's leading KYC providers even before the community considers to start investing in it or supports it since it could serve as a proof that a certain crypto project is being handled by real persons with real identities and not just with bogus aliases / identities. Moreover, the rationale behind this idea is that if those core members are doing a honest and legitimate project and they are all also acting in good faith, then I think there will be no reason for them to avoid undergoing a KYC process and would instead gladly submit themselves to it since there is no reason to hide their true identities for the purpose of avoiding any unwanted repercussions in the future.

      Also, I would like to point out based on my observations, that most founders and core members of most successful projects in the crypto industry had their identities made well known to the public except of course for Bitcoin's Satoshi Nakamoto which is in contrast to its current core developers whose identities are also publicly well known. I think maybe we could attribute the success of these crypto projects due to more transparency being shown by the core team of these respective projects. I guess the community are generally more inclined to trust most on the team or core members  if they knew their real identities thus building more trust and confidence between both parties.and this maybe one of the reasons why we need to obliged  ICO core members to absolutely pass KYC verification. Also, we should take into consideration that  that we could also make this KYC process as a requisite for any crypto projects doing fund generation activity be it an ICO or an IEO for that matter.

      I surmise that this mandatory KYC process for core members of a crypto project would be be both beneficial to the community and to the project itself since its implementation  would also gain the trust and faith of most members of the crypto-community towards the project and they would likely support and be part of it which I think will be critical elements to the project's success.  Moreover, the crypto-community should now have a means to know the real identities of project's core members and could further research those identities in order to further verify the legitimacy of the project and this will give them a leverage and power to sue the team if ever they did commit any unlawful acts that merits an indictment.

     I am longing for the day that all crypto projects will have KYC credentials mentioned or exhibited in the project's OP though I understand this will not totally stop scammers from doing their shameless acts but at least it would discourage would be offenders and  maybe lessen their scam activities. I am also hopeful it could have a positive impact to the community so that it might regain the trust from those who are in doubt with the whole crypto-industry.

     Finally, I know it  sounds hard to implement this idea but if only all members of the crypto-community would stand united by it then I think in the long run, it could make a significant difference that could result to a more healthier crypto industry!

Kindly share with us your thoughts and tips on how to protect our computer systems from online intrusions.

Bitcointalk Username: bitsurfer2014
Amount of BTC needed: 0.05 BTC
Reason: Day trading cryptocurrency
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Repayment Date: July 17, 2016
Bitcoin Address:  17ZiHLqZkMLzLmw7otX7GEMudCe3aJi2wK
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