Are we not abusing decentralization?

[Micerker]

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

Although we use STO security tokens, it is difficult to ensure that everything is kept safe. To block stolen tokens, we need to verify the authenticity of this before taking measures to block them before any transaction.

[Abiky]

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.

Agree. I believe that regulation is "anti-ethical" for the whole cryptocurrency space. After all, Satoshi invented Bitcoin to be free from middleman in the first place. Considering that today people still rely on centralized exchanges and custodians to acquire or sell cryptocurrencies, the vision of decentralization is far from becoming a reality.

Now, the term "decentralization" is used more for hype than something serious for the Blockchain Industry. We've seen how crypto platforms like Ripple and Stellar claim to be "decentralized" when theoretically they're centralized. On the other hand, supposed decentralized exchanges like CryptoBridge are now requiring US citizens to verify their IDs via a KYC process. Which is why, I believe that at some point decentralization has been abused resulting in its demise within the future. Just my thoughts

[pushups44]

One of the benefits of centralization is protection from abuse and fraud, but it also can itself lead to abuse and fraud. The key is for investors to take the proper security countermeasures to deal with this new wild west.

[Sithara007]

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 incidents of scamming has nothing to do with decentralization or any other principles put forward by Satoshi. Are you saying that there are no scams with the centralized fiat currencies? Humans are greedy. That's the way our mentality works. We are just one out of the millions of species out there and we have carved out 90% of the planet for ourselves. But what greed has to do with decentralization? Greedy people are everywhere, be it in the crypto domain, or in the banking domain. Or are you saying that the bankers are less greedy?

[darklus123]

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.

No matter how we deal with this problem it is and would always be there. That is the exact reason why most of the businesses such as exchanges are actually doing the KYC policy because if ever that this certain attacks happens and when that certain hacker sold their funds  to exchanges then that could be the end of their business.

It is still very hard to identify if the funds that you are getting are actually obtain illegally.

[Gaff]

One of the benefits of centralization is protection from abuse and fraud, but it also can itself lead to abuse and fraud. The key is for investors to take the proper security countermeasures to deal with this new wild west.

So you mean decentralization is likely to fall on abusive acts? I don't think it's not a fair idea about the meaning of protection mate. And although you think we're protected with our fiat government's fraud people, but it's not guaranteed because we can't really control every person who would transact on those probable fraudulent persons which circulated around the globe. Abusive acts always occurred in so many ways, and even though it's a fiat or a digital type of money a centralized one will always be subjected to be victim of scammers. Decentralization is considered a brilliant currency diversion towards virtual or cashless society. Handling it in order to have safety depends on how a person generally make his funds more safer or rather make it 101% safe.

[thesmallgod]

The fact that something is decentralized does not mean it won't be abused. In fact, in my own opinion, the decentralized power of crypto has contributed seriously to the abuse by many people. This is because when there is no center of authority that takes control and responsible for the problem then everyone will be looking for loopholes. today a lot of projects hide under the umbrella of this decentralized nature of the blockchain to steal investors money which brings more harm to the trust people have for cryptocurrency at large.

[Caladonian]

The fact that something is decentralized does not mean it won't be abused. In fact, in my own opinion, the decentralized power of crypto has contributed seriously to the abuse by many people. This is because when there is no center of authority that takes control and responsible for the problem then everyone will be looking for loopholes. today a lot of projects hide under the umbrella of this decentralized nature of the blockchain to steal investors money which brings more harm to the trust people have for cryptocurrency at large.

And that's the reason why only investors who have a big nerve and willing to take the risk will take the advantage of this system, we can't deny the fact that there's really people who loves to take an edge knowing  that this system can give them benefits, it's a long journey and different insight between
people who believes or doubts this process,.

We need to observed how we stand our positions, believe in your own understanding.

[Duzter]

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 incidents of scamming has nothing to do with decentralization or any other principles put forward by Satoshi. Are you saying that there are no scams with the centralized fiat currencies? Humans are greedy. That's the way our mentality works. We are just one out of the millions of species out there and we have carved out 90% of the planet for ourselves. But what greed has to do with decentralization? Greedy people are everywhere, be it in the crypto domain, or in the banking domain. Or are you saying that the bankers are less greedy?

Greed is common, it can't be taken away from one's life. Maybe one in hundred will get out of greed through real life experience. We need to have a system that could eliminate scams, but functional on the decentralized platform. This is quite a hard task, but nothing is gonna change pin pointing the greed of common people. As quoted higher level of scams were taking place through centralized system than the decentralized one. With decentralized system, if he's little knowledgeable he can get rid of scams. With centralized system it is complete traps you can escape one, the next will be awaiting from the one next to you. Whether it is decentralized or centralized we need to be careful in every activity.

[Ailmand]

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 think it's part of our nature to practice and abuse all the freedom and convenience that we have. That's also one of the problem with decentralization, big crimes can be committed and concealed thru decentralization. Nobody knows whether if huge illegal funds were transferred thru cryptocurrency since it is decentralized.

[Abiky]

The fact that something is decentralized does not mean it won't be abused. In fact, in my own opinion, the decentralized power of crypto has contributed seriously to the abuse by many people. This is because when there is no center of authority that takes control and responsible for the problem then everyone will be looking for loopholes. today a lot of projects hide under the umbrella of this decentralized nature of the blockchain to steal investors money which brings more harm to the trust people have for cryptocurrency at large.

Agree. Because of the freedom decentralization provides, many people have abused it in many ways. As such, scammers and hackers have taken advantage of the situation to spread mistrust among everyday people. Still though, the same thing happens with centralization which leaves no excuse for anyone trying to associate decentralization with bad stuff. In the bright side, being decentralized gives you control over your money which means that you can take the necessary measures to further secure it.

The main issue is miseducation about how everything works in the decentralized land of crypto. Once people are knowledgeable of the situation, then they could easily avoid getting scammed by protecting their funds in a proper way.

Nonetheless, I believe that decentralization will take over centralization completely in the future as people realize its true benefits. Just my thoughts

[De4ted]

There is always an abuse to the use of everything we cant stop it everyone has a choice if one person choose to abuse a thing there is nothing you can do to stop that, its just either dont do the same or do the same for your own sake.

[pushups44]

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 bringing enormous value to the world, but we also have to see it in proper context and understand its limits. We need to understand the advantages and disadvantages of decentralization, and also be mindful that it is not proper in all things and organizations. There are regulations for a reason.

[Xalata]

Decentralization is not being abused if you ask me it is rather the security that is being tempered with and those who fall prey to all those schemes are newbies who fail to read more about how to safely interact and make transactions in this community. Decentralization however has not been fully achieved on most blockchain networks and that is exactly why i love the Proof-of-Stake consensus protocol being used on any blockchain network.

[Sithara007]

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.

Scammers and fraudsters are present everywhere, as greed is embedded as a basic character in the human behavior. Decentralization has nothing to do with it. Satoshi invented Bitcoin as a tool to end the exploitation of the common people by the central banks. If someone is using it for criminal activity, then we can't blame Satoshi and his invention for it.

[Malsetid]

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.

Scammers and fraudsters are present everywhere, as greed is embedded as a basic character in the human behavior. Decentralization has nothing to do with it. Satoshi invented Bitcoin as a tool to end the exploitation of the common people by the central banks. If someone is using it for criminal activity, then we can't blame Satoshi and his invention for it.

Yeah we can't blame satoshi but still that doesn't change the fact that these selfish, greedy people are using this feature to their advantage. That's why i think we should be too tight when it comes to having regulations applied since we can't control people abusing it. Yeah we can't avoid such abuses even with certain regulations but it's still better than doing nothing at all.

[posi]

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.

Scammers and fraudsters are present everywhere, as greed is embedded as a basic character in the human behavior. Decentralization has nothing to do with it. Satoshi invented Bitcoin as a tool to end the exploitation of the common people by the central banks. If someone is using it for criminal activity, then we can't blame Satoshi and his invention for it.

Yeah we can't blame satoshi but still that doesn't change the fact that these selfish, greedy people are using this feature to their advantage. That's why i think we should be too tight when it comes to having regulations applied since we can't control people abusing it. Yeah we can't avoid such abuses even with certain regulations but it's still better than doing nothing at all.

You guys all make a good point cause we can't definitely blame Satoshi and his invention for the greed of using it by some people. However, don't created Bitcoin just because to end the exploitation of the common people by the central banks but to give the masses the financial freedom and some kind of regulations board is what we need to tackle the abusive way of using the blockchain I don't see anything bad in it but we must make sure the regulation won't also take the advantage of the process either.

[carlisle1]

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 question is who will make the regulation and who will implement?its easy to say each idea but what will be the implications?
But i am very awaiting for the regulations because this is the only way for bitcoin to grow further and with the help of government intervention,lets make things appropriate and accept the reality that we wont win against government

[Bessta]

There is no such thing as abuse of decentralization, if in the first place bitcoin was made with decentralization. If there is anyone who abuses power here, I think it is the people who requires unannounced KYC in order to receive the bounties. Decentralization in cryptocurrency is just normal.

[waitforme]

Blockchain is a decentralized platform and helps everyone to use and own it. But for Cryptocurrency hierarchy gradually disappears, you can own Altcoin, but your rights depend on the number of Altcoins you own.