We need regulation pretty bad

[jacafbiz]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

Regulated by who? thou I believe most of these scammers should go to jail but having Government dictating the pace of the development is bad for the space. Before Ethereum made raising funds in their platform as easy as A, B, C we use to have Escrow that would hold on to the ICO money and release the funds as timeline is being reached, if the system is still in place it would have prevented most of these scams in the space

[jdarren]

I agree. I will say that we have pretty important companies like Ciphertrace that are building extremely helpful technology for AML compliance and tracking.

[JeffBrad12]

The problem is the blockchain is an open-source that everyone can use it. It's wrong if you are saying they are good in a particular field caused by the fact has said the different thing like the majority of them have no portfolios about what has already created by the majority of new blockchain developers. The regulation will not work with crypto until each of the existing blockchains will be putting its self strict regulation to issue a new asset (the majority of unskilled dev used the asset as the easiest way to start ico).

that's why we must do deep research to avoid such unskilled developer.

[Saisher]

The big question is who will regulate, the platform? there are many open-source platforms, these scammers will just create their own and compete with the existing platform.

The government? that would be very bad for the industry chances are it will not become decentralized anymore, and they will have a say on how the project is going to run, they might even go after their investors.

[lixer]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

Having a certified blockchain developer would still not stop scammers from doing what they need to do because a blockchain developer will not filter the project he is to develop, he will only be consulted to develop the project which they might not even know the intention of the business owner, so they will simply do their job.

The only major part where I would agree with you on having certified pro developers is the aspect of low quality projects, we have so many low quality project that if we had the touch of a professional developers, those project would have been the talk of the town, and with a qualified developer, we would always have projects with real use case being released. These are part of what should really form any regulation policy.

[Red-Apple]

no we don't need regulations at all and the worst part is that regulation is not going to solve anything in the way you think they are!

the same scams are going to continue to happen if not more if this market was heavily regulated and people were restricted about what they could create. that would just push people into off-the-market and in shady places for trading.

the solution to the problem you are concerned with is so easy! people simply have to stop giving away their money to any random person who asks for it in return for garbage.

Perhaps you know about this phenomenon: individually, a person is smart, and the crowd of such people is stupid.
Therefore, there are laws governing human relations. Unfortunately, I see that this also applies to the crypto community.
How people act in accordance with the laws is largely dependent on the laws. Therefore, I would not make forecasts regarding "shady places for trading".

i am not very sure about what you are trying to say here, but regarding shady places you don't have to forecast anything, you just have to look at the history. each time an exchange that previously didn't have any KYC starts forcing KYC on its users, there is a mass migration to other platforms most of which were shady before and don't require KYC.

[nwosuchristabe2]

Regulations can't solve the scams, even in regulated financial institutions, people are still scammed hugely. I think investors should learn to do research, avoid falling for conmen. Do not give out your money on hearsay.

I fully agree with you, regulation can't solve the problem of scam, even with the tight regulations in our various countries financial market, people still get duped. The way out is to liberalise the necessary information which would help people make more informed decisions. Most persons may not be able to go through the rigour of carrying out intensive research, but with an easier access to information, they could make better decision.

[digitalblock]

We don't need regulators to reduce fraud. They are needed for the cryptocurrency to be introduced into public life. And implemented with all its factors-anonymity and decentralization. Thanks to the regulators, we will be able to stabilize the market and everything will be much easier. We don't have to worry about price dynamics every time.

[taufik123]

Resolving Scammers with new rules will be very difficult to do. Scammers with garbage projects will continue to exist, as investors we must be more careful when choosing projects. even the project that initially went well suddenly was a scam.

[JCviggen]

Resolving Scammers with new rules will be very difficult to do. Scammers with garbage projects will continue to exist, as investors we must be more careful when choosing projects. even the project that initially went well suddenly was a scam.

I think that soon the situation will change. market rules will change and scammers will be given less freedom of action

[tebzzz]

Resolving Scammers with new rules will be very difficult to do. Scammers with garbage projects will continue to exist, as investors we must be more careful when choosing projects. even the project that initially went well suddenly was a scam.

I think that soon the situation will change. market rules will change and scammers will be given less freedom of action

how was it created? Until now no one has thought of a solution to this regulatory problem. Scammers will continue to exist, and may be very difficult to suppress growth.

[Jenkins33]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

But are those developers who take the job and know that they can’t complete it are not scammers?
Fraudsters are all those who cheat in one way or another other people.
It seems to me that regulation will not save the crypto market, because it was created in order to be independent. What is needed above all is the responsibility of the investors themselves, we must stop investing in those projects that have nothing but promises.

[South Park]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

Regulations will not help, scammers do not care about the law and they will create false identities and credentials and then people will invest in those scams thinking they are secure because now there is regulation in place, in fact it is possible that regulation can make things even worse, we can see this with the regulations that forced icos to ask for KYC information out of their investors, scammers were really happy that such regulation passed since they could also steal the identities of their investors and not only their money.

[Brunus]

Regulations should be created to defend the public from scammers. This in theory.
In fact, regulations complicate the lives of honest developers, while fraudsters simply become better at circumventing regulations.

[Mrcharles]

I personally don't think the issue of Scammers would be eliminated with the introduction of regulations in the cryptocurrency space. Rather there should be more sensitisation on how to prevent one from getting duped. This could have a longterm effect of sanitising the market and discouraging the scam projects.

[senin]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

I do not think that the rules in cryptocurrency are needed so that someone, at their discretion, decides who is allowed to create a new ICO project and who is not. It will be the same bureaucracy with inevitable bribes and other attributes of centralization. The regulation of ICO activities should concern organizational issues - verification of the identity of the team in order to avoid possible fraud, the establishment of general rules to protect the rights of investors. However, the definition of qualifications for a project is too subjective and therefore government bodies should not address this issue. Otherwise, there will be no decentralization in cryptocurrency.

[fortunecrypto]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

Because they find creating an ICO project is a way too easy, all they need is a small amount of money, they can hire designer, writers, blockchain explorer bounty managers, all they need is a few thousands and they can make millions out of it, this is why it's important to do diligent research or do not invest at all if you cannot extend your research.

[btc_angela]

What we need is for people to stop being dumb and not to put their hard earn money to those scam ICO's. Regulations will be just futile because we al know that the system is decentralised. If people would just educated themselves, I'm sure less projects will run of investors money because they know they can't fool people anymore. Knowledge and education is the key here and not a full blanket regulation, in my opinion.

[forexandcryptoauditor]

Looking at the current situation of failure of many projects in terms of development and also fund raising, I believe regulations required urgently. May be the reason of bad marketing, but I see a major decrease in confidence of investors which is leading this situation. Loot of scams around the Cryptoworld is another concern. At the moment crypto space needs guidance and strict rules via regulations.
This will definitely increase the confidence in investors and situation can improve.

[Torps1]

Project team who are genuine and determined to succeed in their project should do a preliminary investigation before asking for the services of any developer. There are many developers out there and any qualified developer must have history of previous work that should serve as a preference for any team asking for such developers service.