Are we not abusing decentralization?

[Faxmate]

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.

Their are only ~15 btc mining pools, some controlled by the same organizations.

Decentralization in btc died years ago.

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.

[X7]

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.

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.

[idham29]

There are many people that always seek to capitalise on the lapses of every system and Cryprocurrency isn't an exception. I hope the introduction of STO in place of ICO will ensure trust and confidence back to the community as well as safeguard investors from been scammed.

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.

[Abiky]

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.

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

[killat]

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.

[Abiky]

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

[Janation]

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.

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.

[The Cryptovator]

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.

[hxtop]

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.

[jerrison]

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

[MakeMoneyBtc]

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.

[mrdeposit]

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.

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.

[tunapa]

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.

[killat]

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?

[pinoyden]

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  .

[BeGoods]

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

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..

[LUCKMCFLY]

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 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.

[Finestream]

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

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..

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.

[BitDane]

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.

[sijonru]

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

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.