Does bitcoin need an addition of a safety feature? User friendly?

[jademaxsuy]

This is just my opinion and just feel free to post a reply.

Bitcoin is one of the biggest money accumulated globally from different currency. It has been tag as scam while others did not believe in it (due to its features instant big earnings) and others think of something else like a new innovation doing a decentralized transaction without third party just purely bitcoin platform that one can remain to be anonymous. The government did not approve this decentralization system for it was subject for abuses to which it really had basing from complains of users whom were being scam. Yet, the government also did not close the doors to bitcoin for negotiations and had seen its huge potential.

There are appeals of some promoting the system to the community like in those rich countries to where for now it remains floating. The system still not legally accepted and news were popping out regarding on bitcoin and altcoins restriction investments and the prohibitions for the community to invest as a result from the complains being filed from users getting scam. However, they still can invest if they really want to but not limited to bitcoin and other strong altcoin like Ethereum. The goverment really see the potential of cryptocurrency and seeing a lot of money they can probably take.

So, the problem I had seen here is not the bitcoin platform instead it is the acceptance for the safety consumptions of the community. The different perceptions also regarding bitcoin made it worst. Meaning that the community needed to be educated regarding with bitcoin and its risk.The risk I was talking about is the volatility of bitcoin market but we know that bitcoin is not different from stock market specifically in trading feature. And I think joining bitcoin has more advantage than stock market where it will allow one to earn instantly knowing also the high risk.

Now, my point is that bitcoin has been considered already and working well for now but violations could be imposed to the users abusing the system from other users who had been asking help from the government specifically the investment scams. Eliminating this risks needed a help from the government or could be a private institution created for the sole purpose of safety to all users. For this we can expect something good in return. However, I know that most of the users here do not like the intereference of the government or any third party but not to all since there are already some pushes this system to be legalized. Wether we like it or not I think we need regulations for the safety of the users coming from the government or any private institution that will help the users keeping away from the abuses. A little revisions also would be a great help by being a friendly user system letting the users to decide wether to remain anonymous or not depending on the users agreement in a certain transactions.

And then again this is only my opinion and you are free to react violently.

What do you think guys of bitcoin platform do we really need a third party to add safety measures for the users and being a user friendly sysyem? All I know is that I really don't know.

[tbct_mt2]

So, the problem I had seen here is not the bitcoin platform instead it is the acceptance for the safety consumptions of the community. The different perceptions also regarding bitcoin made it worst.

There are always opposite viewpoints in any area and such opposite perceptions are good for growth.

Meaning that the community needed to be educated regarding with bitcoin and its risk.The risk I was talking about is the volatility of bitcoin market but we know that bitcoin is not different from stock market specifically in trading feature. And I think joining bitcoin has more advantage than stock market where it will allow one to earn instantly knowing also the high risk.

LOL, can you tell me that the latest terrible crash of all markets were triggered by WHO are not risky and not volatile? Can we call stock, gold, oil are not volatile? Please, if you are bitcoin or crypto enthusiast, don't seed it negatively like that.

Now, my point is that bitcoin has been considered already and working well for now but violations could be imposed to the users abusing the system from other users who had been asking help from the government specifically the investment scams. Eliminating this risks needed a help from the government or could be a private institution created for the sole purpose of safety to all users.

Scams are everywhere, and not only in bitcoin or cryptocurrency area. When people, governments like something, they will seed it positively. When they hate or don't like something else, they will seed it negatively. That is what we have seen with bitcoin and cryptocurrency. Don't worry.

What do you think guys of bitcoin platform do we really need a third party to add safety measures for the users and being a user friendly sysyem?

Bitcoin is already friendly enough.

[mk4]

First, I'm going to say there are a lot of things that are factually wrong in your first paragraph alone, let alone the whole topic. But since the point of this topic is on the 4th paragraph(and that I would probably end up spending an hour correcting your misinformation), let's focus on that.

The government is already doing something about these scams, but, the thing is, there's only so much that they can do. Remember that we're talking about a permission-less system here, so as long as they don't get caught, they can go on and on with their schemes.

Not sure about the "revision" you're specifically proposing, but Bitcoin isn't really anonymous by default to start with. Remember, the blockchain is public and fully transparent, but users can still remain undetected depending on how he/she handles transactions.

As for your idea, a user can always be fully public if he/she wants to without the need of changing something in the system in the first place. It's just that they obviously don't want to be publicized hence they use fake online personas to trick their victims.

[FlightyPouch]

The government has their own ways of tracking hackers using bitcoin. In terms of scamming, I guess it should be the user and investors themselves to identify a scam. Either way, there are a lot of people that are sharing sites about it. Another thing is that there are forums where you can check the legitimacy of a site you want to invest in.

I don't think bitcoin needed to add a safety feature. It is the user that needs to be careful against hacks and scams since they are the most vulnerable part of bitcoin.

[Maus0728]

Shoudn't it be the people who is responsible to improve their privacy in the first place? considering that we only use it as form of currency in exchange for goods and services and not committing to fraudulent activities such as being a money crypto-fiat transmitter without any license to operate.

bitcoin is still in its infancy stage and it is obvious that there are lots of improvement that needs to be executed before it will achieve a big upgrade with regards to scalability and privacy issues. I am certain that the only thing we can do right now is to practice on how we can attain an optimum privacy.

[20kevin20]

We don't need any authorities, institutions and other third parties to help us with risk assessment. You know what, no offense but if someone cannot digest the risk Bitcoin carries then they shouldn't invest in it in the first place. Let's not turn Bitcoin exactly against what Satoshi wanted it to be - the state has been successfully doing this for years now, accelerating the process only does more damage.

You can go right now on Craigslist and get scammed by a too-good-to-be-true offer. Who is it to blame: you or the state for not having an authority to protect you from them? If someone is scammed by sending a Bitcoin to an "Elon Musk giveaway" on YouTube desperately hoping to get 2 BTC in return, that's no one's business and fault except their own.

Scams are everywhere. Twitter, YouTube, Facebook, Tinder, Telegram, wherever you look. You only need a brain and some research beforehand to be able to distinguish them from legit offers. Bitcoin is an investment. There's no investment without risk. Holding money in your national currency is a risk itself.

Punishment for scamming/abusing people using Bitcoin already exists. We have laws, and they apply no matter if you do criminal activity using USD, BTC or rubber ducks.

[minairia3]

No, third party isn't necessary to make bitcoin more friendly. The real problem is there aren't many volunteer to improve user friendliness on platform where we have full control over Bitcoin.

Agree if thats the case then we are like asking for help to make our own security well it already employ strict process for protecting our own funds.

Some think that privacy has been bypass due to massive scam happening over crypto exchange and users, maybe the problem is thr carelessness of users anf those platforms? Why need adding another 3rd party just to become safe? Friendly user platform starts with the knowledge we knew about bitcoin and it start from ourself. Educate on dos and dont to avoid such malevolent hack and breached.

[BrewMaster]

you seem to be very confused about what bitcoin is!
bitcoin is not a platform
bitcoin is not a money making machine or a cow you milk
bitcoin is not a centralized company
bitcoin is not anonymous
bitcoin doesn't need anybody's approval specially governments'
bitcoin is not banned in more than 90% of the world
....

bitcoin is already the safest payment system that has ever existed and whether or not some users fail to educate themselves due to laziness is their fault. nothing can change to help them otherwise.

[jademaxsuy]

This is why I have stated that I knew already that not all will going to like if government or any third party will going to involve. But there people who had been pushing the bitcoin to be legally accepted. News are popping and talks about it where some had already announce that their country had already accepting cryptocurrency and has the authority to fully utilize it for consumption.

I am not generalizing all users but pretty sure that users were being divided between bitcoin being legalized to fully use its potential or just let it be where features had been capable enough to sustain for the community consumption.

We all know that bitcoin was being created for a sole purpose and that is to remove third party and to decentralized transactions. Just correct me if I am wrong. I am postig this so that I can learn from you. This is the way I want to learn. Besides it is an inquiry if you will read the title.

I am still waiting for others to post reply. It will be much appreciated and welcome.

Sorry for the english I am having hard time to explain the concept.

[jademaxsuy]

you seem to be very confused about what bitcoin is!

I had stated it here.

 All I know is that I really don't know.

And this is a good discussion for me to learn. The very good thing is that there are many users here that will give an insight regarding bitcoin except for those who will just copy and paste posts and the shitposters.

[passwordnow]

Risks can't be eliminated but it can be mitigated for most investments. And as for the scams, we shouldn't just let all the job being done by the government. They can't monitor all things including all of these scams, educating ourselves and the others who are dedicated to know bitcoin is what we can do. So they can avoid the scams and they can also help others to give a warning to what are the signs of being a scam investment that's using bitcoin as a payment.

[TalkStar]

And this is a good discussion for me to learn. The very good thing is that there are many users here that will give an insight regarding bitcoin except for those who will just copy and paste posts and the shitposters.

If you think anyone is giving meaningless replies on your topic then just ignore them and only pick them which opinion looks essential to you. providing information from everyone's own knowledge vault is not a bad thing but when its out of topic its better to leave them alone.

As far as i know many countries government give chances to their citizen to turned their black money into white during annual budget. Its a process of encouraging people to follow government law and order about gaining personal assets in a legal way. Yeah its true that people can hide their illegal money by transferring their assets on bitcoin but there is much more options available too. You can't change anyone's habit just by giving pressure where its necessary to change their mind set about paying taxes and earning through legal way. If you choose the right use of fiat or bitcoin then i don't think using any option among both will gonna be a big issue for government. Yeah it will definitely cause problem when we will misuse it.    

[MCDev]

What do you think guys of bitcoin platform do we really need a third party to add safety measures for the users and being a user friendly sysyem? All I know is that I really don't know.

Third-party involvement eliminates the decentralization and anonymity of bitcoin. At that time, bitcoin would be no different from a normal currency and it would not appeal to everyone.

[iRaMMuS34]

To me BTC is the safety feature itself, at least in the long run. I mean, it's decentralized, it's the safest you can get

[buwaytress]

Almost any tool requires some level of understanding to use it properly, no less something like Bitcoin which really is a tool unlike any that people have encountered before.

I'm always for education and awareness, but also acutely aware that not everyone, for lack of education, access or privilege, will be able to independently use a technology like Bitcoin.

That said, almost any government attempt to regulate and help prevent people from being scammed is reactive -- if people cannot access the self education necessary, they likely will not access the state's preventive measures before being scammed.

So all these blacklists that governments do, and alerts and PSAs. These may help some people, but ultimately, people get scammed because of ignorance (and I don't mean this is a negative way necessarily). Little we can do about that but continue to educate and spread awareness.

[dothebeats]

I don't know what you mean when you ask for 'third-parties for security' type of thing.

The governments together with organizations and services are vying for a risk-free--or at least minimum risk--ecosystem for bitcoin and cryptocurrencies, and that is with regulations that help the services and the consumers reach safety and protection when transacting with one another. Although of course that isn't an easy feat to achieve, we're getting there. The statistics for scams and other such cases are because of some people who still refuse to research before diving in on their transactions, and not necessarily with bitcoin being ]too hard to understand.

It's not the lack of effort from within those sectors that causes people to get hit by investment scams but rather their continuous refusal of educating themselves on the dangers lurking within the bitcoin ecosystem. PSAs are everywhere, yet people refuse to read those and cry 'wolf' when the bad beat hits them.

[adzino]

This is just my opinion and just feel free to post a reply.

Bitcoin is one of the biggest money accumulated globally from different currency. It has been tag as scam while others did not believe in it (due to its features instant big earnings) and others think of something else like a new innovation doing a decentralized transaction without third party just purely bitcoin platform that one can remain to be anonymous. The government did not approve this decentralization system for it was subject for abuses to which it really had basing from complains of users whom were being scam. Yet, the government also did not close the doors to bitcoin for negotiations and had seen its huge potential.

Have you ever asked those people why they tag bitcoin as "scam"? I bet they will come up with stupid statements to back up their claim. People should stop thinking bitcoin is going to make them rich over night. Bitcoin wasn't created to make "big earnings". And no, bitcoin transactions are not anonymous. They are pseudonymous. The government might close the doors to bitcoin, but will welcome the technology behind it - "Blockchain".

There are appeals of some promoting the system to the community like in those rich countries to where for now it remains floating. The system still not legally accepted and news were popping out regarding on bitcoin and altcoins restriction investments and the prohibitions for the community to invest as a result from the complains being filed from users getting scam. However, they still can invest if they really want to but not limited to bitcoin and other strong altcoin like Ethereum. The goverment really see the potential of cryptocurrency and seeing a lot of money they can probably take.

If the system does not "legally" accept it, then there is no way that country will be allowing people to use bitcoin or other crypto currency. Only few countries in the world (and they are mostly corrupted) has completely banned usage of crypto currencies. Yes, the government does see the potential of crypto currencies, hence they are will eventually try to make some sort of centralized crypto currencies (some countries have already started planning on how to make this work). And what do you mean by they can take a lot of money from it? You mean they can easily track if people are paying taxes or not?

So, the problem I had seen here is not the bitcoin platform instead it is the acceptance for the safety consumptions of the community. The different perceptions also regarding bitcoin made it worst. Meaning that the community needed to be educated regarding with bitcoin and its risk.The risk I was talking about is the volatility of bitcoin market but we know that bitcoin is not different from stock market specifically in trading feature. And I think joining bitcoin has more advantage than stock market where it will allow one to earn instantly knowing also the high risk.

Lol, no the government isn't worried about the safety (i mean they are but I doubt unsafe usage is their worst nightmare), they are more worried that they can't control the system. They are worried about giving people financial freedom. Giving us financial freedom means losing half of their power over us.
People can get scammed even if they use fiat money. As long as you are not being cautious, you are bound to get scammed eventually. Once again, people shouldn't join the community just for making quick profit. Don't be comparing bitcoin with stock markets. You can't trade your stocks in a shop for a cup of coffee, can you?

Now, my point is that bitcoin has been considered already and working well for now but violations could be imposed to the users abusing the system from other users who had been asking help from the government specifically the investment scams. Eliminating this risks needed a help from the government or could be a private institution created for the sole purpose of safety to all users. For this we can expect something good in return. However, I know that most of the users here do not like the intereference of the government or any third party but not to all since there are already some pushes this system to be legalized. Wether we like it or not I think we need regulations for the safety of the users coming from the government or any private institution that will help the users keeping away from the abuses. A little revisions also would be a great help by being a friendly user system letting the users to decide wether to remain anonymous or not depending on the users agreement in a certain transactions.

And then again this is only my opinion and you are free to react violently.

What do you think guys of bitcoin platform do we really need a third party to add safety measures for the users and being a user friendly sysyem? All I know is that I really don't know.

If third parties and government gets fully involved, the currency will no longer remain decentralized. What you are trying to say is to bring a central authority to control scams, but this will defy the main maxim about bitcoin being decentralized.

[jademaxsuy]

bitcoin is still in its infancy stage and it is obvious that there are lots of improvement that needs to be executed before it will achieve a big upgrade with regards to scalability and privacy issues. I am certain that the only thing we can do right now is to practice on how we can attain an optimum privacy.

Yes, I agree. Bitcoin actually is in the infancy age it is fully develop but when it comes to users consumption still needed the users to undersrand through the whole process and it needs education.

If third parties and government gets fully involved, the currency will no longer remain decentralized. What you are trying to say is to bring a central authority to control scams, but this will defy the main maxim about bitcoin being decentralized

Good point, but what if government does allow decentralization by not changing what bitcoin has now?

Yes most likely when there is an involvement of third party,  bitcoin will become centralized bringing up the consumers to pay taxes just like what they do on our assets like properties basic goods and services. It will defeat its purpose on the creation of bitcoin to beat the interference of third party and the collecting tax in centralized system.

But why can't other users see this? We had already succeed in the decentralization system to get out on the collecting tax issue. But others had come to pursue for bitcoin to become legally accepted.

[Kelvinid]

We are not yet getting into the top and fully develop the crypto market. We are still making more adjustments and seeking feedback in which it could help to perfectly shape the market and much better to look at in the future.
We don't need to seek another party to have that safety assurance, in fact, we can make it our own, the only problem to the others is that they even don't know how to make it right. But to think about how scams it works and mostly it happens online, the guarantee isn't of that 100%.

It has to come at that moment but we have to take action first rather than to keep it waiting.

[Sadlife]

Yes you are correct it does need some sort of management or a centralized authority only to help those people getting abused by investment scams and somehow put a stop to this investment scams once and for all. If we could manage to eliminate this then maybe people and governments could consider it and accept it as their local currency.