Quote from: panganib999 on October 30, 2019, 02:06:45 PM

Scams are really getting serious as its rate grow bigger and bigger. But when it comes to crypto scams, it doesn't really concerns the government of most countries for most of them aren't into supporting cryptocurrency, relying into compliance companies isn't of any convenience for it might cost us more, nothing is free. It is our responsibility to make sure that we aren't getting ourselves into scams for scams aren't controllable and not easy to get rid of. Also there aren't that much scams when it comes to crypto, it's not the cryptocurrency that is a scam but those people makes scam and is just using crypto to earn something out of their schemes.

In my opinion, scam occurs not because there is an intention of the culprit, but rather because there is an opportunity to commit a scam. Scams are identical to one party experiencing losses due to the other party. This loss is usually in the form of material. In the world of cryptocurrency or before we invest and do business with cryptocurrency, we really need to understand what cryptocurrency is. When we understand, we can minimize the possibility that we will be exposed to scams. So the rise of people who suffer losses due to cryptocurrency is solely due to a lack of knowledge in investing in digital currencies.

To start investing in cryptocurrency, the understanding that cryptocurrency is a myth of wealth must be eliminated. There are several reasons why the cryptocurrency is close to scam practices

- Many newbie's understanding is not perfect and their analysis is not mature enough to join the speculators.
- There is no legal guarantee from the government because of its decentralized nature. This is very risky for businesses and every cryptocurrency user because it is only a formula, not supported by real assets but only at the level of demand.
- The legality of cryptocurrency in every country is different because it is anonymous to worry about its use for illegal transactions.