Are we not abusing decentralization?

[Kelvinikke]

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.

[kingpin4321]

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

[Pursuer]

Look at the way people are being scammed and robbed in broad day light just because crypto is embedded in anonymity and decentralization.

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!

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.

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

[mk4]

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.

[KingScorpio]

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.

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

[talkbitcoin]

how about we have some level of regulation with the activities in the crypto industry.

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.

[Jeborn]

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.

[septi.JR]

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.

[KingScorpio]

how about we have some level of regulation with the activities in the crypto industry.

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.

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",

[talkbitcoin]

how about we have some level of regulation with the activities in the crypto industry.

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.

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.

[mk4]

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

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

[KingScorpio]

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

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,

[r1s2g3]

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.

[meanwords]

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.

[goaldigger]

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.

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.

[cizatext]

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.

[deisik]

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

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

[bitbunnny]

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.

[mk4]

jes.

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

thats my point of few,

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

[pawanjain]

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.