With all the exchanges being scammed or hacked or infiltrated this past year all over the world, this topic has been nagging at me because it'samajor issue everyone in the crypto community is wary of.
The thesis is simply this: hackers and scammers, whether they work in groups or independently, or whether they are monetized and supported by third parties or government agencies are taking advantage of the anonymity of the internet and the blockchain, much to the detriment of not only the perceived value of bitcoin and cryptocurrencies in general, but also the dubious act of stealing coins is giving a bad name by and large to the reputation and already misunderstood image of the entire blockchain industry.
Yes, experienced investors and traders who are HODL know where to put their hard earned coins and where not to. But new enthusiasts who are less learned on the subject who are eager to participate are usually the ones who fall victim to these false advertisers or unproved new sites that seem to be springing up daily promising massive returns, or on social media platforms offering to double triple and quadruple returns for participants.
There are too many who stand to profit from these scams, and too many vulnerable to being hacked and affected. This is where the peer to peer part of the bitcoin white paper comes in. Warn your fellow connections and investors about these sites and keep all sound investments away from them.
The anonymity used to protect cryptography is also being used to exploit and simultaneously destroy it. It isn't beyond large corporate conglomerates funded by private interests or even large government agencies to outright fund the hacking of these international exchanges, forcing them to shutdown or restruct their security and regulations regarding the risk involved in protecting their clients and users investments.
Of course there are sites that warn us as to the scam sites or exchanges, as to shady teams of developers collecting for IPOs then disappearing with the apt use of VPN's, multiple accounts, and the like. However, for every true project and site that launches every few days to weeks and months, there are scam sites also that emerge seemingly from nothingness.
I say this to urge you steemians, blockchain enthusiasts, and those just starting out, everyone who truly cares about the cryptocurrency space, to look out for one another. You don't have to make everyone rich but upon testing a new platform or site, or learning that it's been placed on a scam site, we spread the word to our local communties to protect ourselves from these parasites.
Truly, for every enthusiast out there is a individual or entities who understand the premise of crypto and also those who do not, and nonetheless cast an opinion on it, hate it, sabotage it, and have wrongminded thinking ideas about it. Cryptography has many enemies among those who do not understand it, wish to harness and control it, or to completely do away with it, because it's new.
They don't want to learn new things, they also don't want it to spread to take away from their grip or control gotten through the abject and royalty income of fiat.
Protect yourself by protecting our comunity by spreading the word and oust these sites, fake bitcoin doublers, and fake forex traders and miners all over instagram, and the like setting traps for noob and experienced investor alike.
Keep in mind, those who actively hate crypto, do not want any of us to win at all. So peer to peer, look out for your peers,
The crypto space is so unregulated and liquid, scams are very common.
True. It's the unofficial duty of all cryptographers to label, expose and help oust and ban these abusers of anonymity for the sake of the future of the blockchain industry.
They give a bad name, to people who know nothing of the space. Theyre chasing money away and devaluing the image, and perceived value of the coins, projects, and contributors like us.
If we don't stop it now in its infancy, in a few years cryptocurrency won't be able to be totally holding onto the claim that theyre truly unlike fiat in every way possible.
Congratulations @eoinroi! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Congratulations @eoinroi! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard: