Quote from: uneng on May 21, 2019, 04:36:41 PM

Quote from: CryptoBry on May 21, 2019, 03:16:30 PM

Quote from: Jansenist on May 21, 2019, 02:41:02 PM

Since internet discovery and the anonymity it provided scams started popping everywhere on the web and became something that we are used to and encounter more often than we would notice, with time we became more aware and started watching our step to avoid them as we noticed with soreness that there is nothing one can about it by itself, but here we are, cryptocurrencies got created and spread on the web easing people's life with its smooth and useful features and here we are again riding the same wave the scammer but this time there is big at stake, as this could prevent a whole industry to blossom and reach it real potential, if we look at it having in mind the perspective that crypto is bond with the internet then there will be really big challenge to make this place more secure where even the naive one could carry on with their business, in fact if cryptocurrency would need to attract more people in order to reach mass adoption and maybe become worldwide (while still prioritizing its values in that case decentralization among others), it will be a requirement to have a secure place, but challenges are made to be taken and maybe cryptocurrency will bring solutions for old issue like scams.

First and foremost, we have to understand that scams, frauds and deceptions can be happening to any industry and definitely this is not an exclusive issue with the world of cryptocurrency. There had been so many financial frauds in the modern human history and there were even involving banks and financial institutions to the detriment of their many victims. Now, scams and frauds became easier and even went global with the coming of the internet and then now with cryptocurrency.

Yes, this is a big issue that the whole industry should be concerned about. However, there is nothing we can do with individuals who opted that their calling in life is to fool other people and their fat wallets. So is there is something we can do individually? Yes, we can start to be smarter so that we don't be another victim of these evil people. In 2017, ICOs became so popular and since the market is decentralized it became the venue for many scammers to sell their projects and then just fly away. Now, as part of the response to maybe minimize the problem, we now see STOs and IEOs which are considered to be better though not yet a big guarantee that scams will never happen. Sadly, we can never do away with scams completely.

Very well said. In a huge community or society there is nothing we can do to finish scams completely and to create a *safe area*. Even more because this is a decentralized space where each person is responsible for their own actions.
Most scams attempts could be avoided through education towards the risks: examples are ponzi schemes, weak icos and their respective altcoins, hyips, phishing mails, putting money in unknown sites.

It's possible to reduce the scams occurrences, and to track dangerous scammers (such hackers) with more effort and technique, with the help of technology, but it's not possible to have a beautiful perfect world where everyone is nice and kind.
And of course, as you said, the market tend to find safer ways to make business, as we have the icos example, that is slowly changing to ieos. It's a kind of improvement aiming the security and positive experience of investors.

I totally agree with that but basically i refer to the internet as a whole and cryptocurrency which will have to thrive in a poor environment. in the time being everything is going smoothly, but in a possible future when bitcoin would have billions of user, a way would be needed to drastically reduce scam case and i am not talking about STO cuz it is not dealing with the origin of the problem (anonymity). as it was for traditional bank system it will take time to come with some solution to really institutionalize the industry(but not in the wrong way). indeed i think everyone need to become smarter as money processing are evolving, i guess this is how things are.