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Author Topic: Are we not abusing decentralization?  (Read 1386 times)
kucritt
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March 03, 2019, 01:35:07 PM
 #101

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

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March 03, 2019, 03:23:53 PM
 #102

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 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
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
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March 03, 2019, 03:58:43 PM
 #103

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.

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March 03, 2019, 07:59:04 PM
 #104

I don't think we are abusing the decentralized system.
Cryptocurrency is still very much not under the regulation of any government or institution
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March 03, 2019, 09:44:17 PM
 #105

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.
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March 03, 2019, 09:52:11 PM
 #106

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.

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 ... !!!
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March 03, 2019, 10:10:55 PM
 #107

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

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March 04, 2019, 12:42:28 AM
 #108

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.
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.

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March 04, 2019, 02:25:47 AM
 #109

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
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.

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March 04, 2019, 07:21:56 AM
 #110

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.
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March 04, 2019, 12:53:10 PM
 #111

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.

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March 04, 2019, 01:46:32 PM
 #112

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.


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March 04, 2019, 04:17:10 PM
 #113

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.

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.

Hire me if you want trusted bounty/campaign management services
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March 04, 2019, 04:29:07 PM
 #114

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 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.

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Abiky
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March 09, 2019, 03:03:47 AM
 #115

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.

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 Smiley


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March 09, 2019, 04:20:35 AM
 #116

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

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March 09, 2019, 04:43:16 AM
 #117

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.

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March 09, 2019, 06:44:05 PM
 #118

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.
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.

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March 11, 2019, 03:37:06 PM
 #119

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.

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.
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March 14, 2019, 12:26:22 AM
 #120

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.

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 Grin


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████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
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