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Author Topic: Why most crypto projects' team members are made public these days?  (Read 281 times)
TheUltraElite
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June 04, 2022, 10:17:10 AM
 #41

Unknown people launching projects is far from over.

Satoshi did not ask anyone to invest in the currency they had created. But every altcoin needs investment from capital funds in order to have a market edge over others. Hence people need a trustworthy face to be able to step forward in investing in the same.

With growing hype about crypto and its sideways things like altcoins and shitcoins, every project wants to get some of that hyped cash into their pocket and not just a name.

But this does not affect decentralization in my opinion. The algorithm running in the back does not depend on the creator being public or anonymous.

R


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June 04, 2022, 07:30:49 PM
 #42

The crypto industry has changed a lot since Bitcoin's inception and is constantly evolving. Nowadays, if the creators of a project want to remain anonymous, for me that is a big red flag and 99% of that cases are scam. In this case, I'm probably a bit of a hypocrite, because I don't like KYC myself and avoid KYC whenever I can, but I think that the creators of projects should be known and be responsible for their works.
I do not think of it as hypocrisy, if the rest of the developers were like Satoshi then I would not feel any kind of need for them to reveal their identities, I would be curious as I am of the identity of Satoshi but I would understand their desire to remain anonymous, however as you say a great deal of the projects being released now are scams and as such if the developers behind a project decide to remain anonymous or use a fake identity then this is automatically a sign for me to never invest or even give any attention to such project.



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June 08, 2022, 10:18:26 AM
 #43

Bitcoin was completely different case than the altcoin project. Altcoin like ethereum, terra and etc were coming from the funding by investors. They need to reveal their identity to create project to be trusted by the investors.

Wasn't Bitcoin's blockchain technology created under the premise of "don't trust, verify"? If that's so, then why do other altcoin projects need investor's trust to succeed? If Bitcoin became widely successful without ever revealing its creator, so can any other altcoin on the market. I see this nothing more than an agenda from mainstream governments in order to enforce KYC/AML as much as possible. With a publicly recognizable developer team (and/or founder), it's easy to prosecute each person to shut down the project for good. That cannot be said about Bitcoin, since there's no one to hold accountable for his/her actions.

Consider how the Terra's price crash put the South Korean government under Do Kwon's (the founder) tail. That and the fact that someone went to Do Kwon's house to complain about his loss of money, tells us the dangers of making crypto project's team members publicly known to everyone worldwide. That wouldn't had been possible if Terra's team members (including the founder) were all anonymous. Nowadays, money talks so it's very unlikely crypto projects will change their stance anytime soon. As long as there's lack of anonymity among team members, it'll be impossible to achieve true decentralization and censorship-resistance. Just my opinion Smiley

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