Are we not abusing decentralization?

[Vishnu.Reang]

A lot of these newer coins aren't even decentralized, we have stuff like EOS and Ripple which kind of go against what bitcoin stands for.  They still might be great investments but they are fundamentally different from the early days of crypto.

I have heard a lot of criticism against Ripple. I agree with your argument that it is fundamentally different from the other cryptos. I never had XRP in my portfolio, because it looks a lot over-priced. And on top of that there are doubts about the total supply and circulating supply. Don't know much about EOS. Actually surprised to hear that it is similar to XRP. 

[Carlsen]

Decentralisation is the point that makes bitcoin safe. It prevents that the blockchain is altered. So exactly this point prevents abuse.
Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.

Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.

But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.

[swordling143]

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.

Yes indeed, not to mention the illegal transactions and purchases which intends to hide (criminal activities) identity behind anonymity. Unfortunately, crooks will always find ways to abuse anything at hand. Regulation might reduce the number, but soon enough, with all technology available, they will always find ways to work around it.

[Yakamoto]

Decentralisation is the point that makes bitcoin safe. It prevents that the blockchain is altered. So exactly this point prevents abuse.
Decentralisation has nothing to do with anonimity. Anonimity is based on the fact that there is no connection between an address and its owner.

Everybody who is in the crypto business is doing so on his own free will, nobody is forced into it.
If somebody loses money here, that is the risk he was taking when he entered this world.

But to be fair, I think that regulations are needed everywhere. On the streets just as here in the crypto world.

Regulation always sets a precedent, some of which can be extremely dangerous. There are often times where "acceptable" regulation allows for more severe infringements in the future. The question is where you draw that line, and in almost every case I have seen, outside of some form of professional/safety regulations, it is almost always a bad thing to have a government involved in regulating anything outside of safety measures for economic activity. While I can agree that there is an issue within the community when it comes to having websites shut down without warning or a getting scammed, that's just a fact of life and there's nothing that can really be done about it. Sure, you could "regulate" these activities, but how would you even go about doing it? The concept itself is ridiculous, especially in a pseudo-anonymous and trust-based community. You can't regulate something that has those characteristics tied to it.

[joshv06]

A lot of these newer coins aren't even decentralized, we have stuff like EOS and Ripple which kind of go against what bitcoin stands for.  They still might be great investments but they are fundamentally different from the early days of crypto.

No I believe but there are coins which are decentralised in nature which can be against other centralised but decentralised nature help the growth of coin rapidly and gives good  broad features which can help the growth of coin in the market.

[cryp24x]

I think you are suggesting regulation of Crypto. Well, as for me, if it will really help all the people and the crypto community will really benefiy from it. I suggest that we should have thorough study about the system and how it can be regulated. All rules should be clear though I'm sure that there will be gray areas. I hope it will not be abused by corrupt officials in the government and the like.

[teejayrichard2]

Suggesting regulation wont solve the problem though may somehow reduce the risk of loosing money. The truth is whether regulation rules are introduced or not scammers will never give up, they will look for a way to scam people and move with their money. We are our own best security. Let's be very watchful and careful with vital details and also observe closely before making any crypto investment

[fuathan]

There will always scammers no matter what technology is out there. We need to educate people about the ways to protect themselves rather than regulating the environment.

[mistanama]

Even with decentralization or centralization we can't still avoid abusive people. If people really want to use it for good then they will only use it for good but if people want it to use for bad things then they are going to use it for bad things even though there are restrictions from it. People will always find ways to execute their plan no matter what type of restriction.

[waynechong1995]

Yes I would agree some form of regulation needs to be work, simply with exchange have to be responsible for user funds in case of hacking or theft, other than that it's simply your own self is known on a completely anonymous blockchain, even millionaire got Rob by insiders so does crypto, thats another thing to consider but decentralisation is not the one to blame

[sHeRiLyN1618]

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 actually good for Bitcoin to be free from regulation, its value will not be influenced by people who intend to destroy Bitcoin.

[bettercrypto]

Anything that we abuse too much cause a danger to us. We need also to control decentralisation because it will become a disastrous if there is no more government power. If the people will totally become independent, scamming and hacking may scattered. It might be also difficult for the victims to see the anonymous criminal. That is the disadvantage without the government.

[Virtual miner]

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 was itself brought forward with a concept that there won't be any need of regulation in the economy as people would be able to manage themselves and control their own finances. But some people have used this in a very poor manner. This has made us rethink about the prospects of regulation in P2P network too but inculcating the same would be a very challenging task. Moreover I am pretty damn sure that this problem would become a major issue in growth of btc as people want safety first. We are really abusing decentralization a lot.

[AltcoinTradingSignal.com]

Valid point, but this is true for any technology or change. We have seen this happen multiple times in our history. There will always be scammers who will try to con you. Also, scammers do not understand the technology but want to make money through gullible people.

[crypto1987]

The original idea of ​​decentralization is very good, the problem is that to date no cryptocurrency has achieved a practical and massive use, then the large companies that are participating in the different projects centralize their use, as we see it with whales mining, ordinary people can not compete, the day when people can use cryptocurrencies from the purchase of a newspaper until the imports of a fleet of vehicles, then we will see a true decentralization, over there we go, that's for sure.

[edumal]

I think the main challenge faced by decentralization is based on the fact that most cryptosystem conceal their actual objectives. Easy prey fall readily for them thinking they are making progress in terms of bogus profits they offer. Most newbies are their easy prey. So, the only option in making a choice of investment is to look out for a complete decentralized system in order not to be scammed.

[Abiky]

You have to accept these things. Because everyone has to be careful and wise about investing matters. If you choose an honest and real project, you will have zero percent scam fear, but if you choose a random project without a proper team or vision then you will be affected by the scam, so, it's all about you! Regulations can protect users from the hacker or scammers. But do you think if a strong regulation come in the crypto industry, Satosh't vision will be fulfilled? Don't you think regulations would kill the total crypto's decentralized nature?

Well, regulations are not bad for the Blockchain Industry and they don't affect the decentralization of many cryptocurrencies whatsoever. However, when there's too much regulation, it could be harmful for the growth of this industry in general. The banning of a specific cryptocurrency within a country, prevents it from being used more thoroughly at that region. Of course, the decentralized nature of crypto allows anyone to still use it, despite the restrictions of any government.

Despite this, too much regulations and the complete dependency of centralized exchanges would prevent Satoshi's vision from being fulfilled at all. We've seen many projects announcing that they're decentralized (like Ripple, and even Steem), when in theory they're not. In this sense, the term "decentralization" has been abused as it's been misused for greed and profit, instead of being used to deliver real use cases for the world.

Nonetheless, time will tell us whenever decentralization can be fully fulfilled or not. Just my opinion

[Youghoor]

What do you mean by saying or thinking that we are abusing decentralization? No one is abusng the use of decentralization in relation to cryptocurrency. Decentralization and cryptocurrency is in fact providing people with financial freedom making it easier for them to make transactions online faster with lesser fees. People who don't understand how cryptocurrency and blockchain technology operate are those who think we are abusing decentralization.

[faceoff97]

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.

There is no denying that decentralization could be abuse due to no one has control over it. Illegal activity could be accomplished anytime and anywhere they want without anyone knowing. Bitcoin could be used in any form and sure just like the normal currency, it could also be used in abusive activities. This is why there should be some kind of regulation to balance the problem.

[jademaxsuy]

No decentralization os one way to stop abuses especially on high transaction cost from.the banks especially when you do volume of transactions. These bankd get huge money if there are like volume of money transacted to which they will have more or less 5-10% of the transacted money will be deducted in a form of transaction fee.

Now if this is being decentralized then there is no point on one getting abused for this is peer to peer and if one abuses the system then you may not proceed with the transactions.