Will cryptoccurrency scams fade away with this new blockchain approach?

[Vladok]

Most likely, there will always be fraud in the crypt, because cheaters always improve their methods of deception, and people will still be guided by their tricks.

[mohdelayo]

Frankly the rate of scams among crypto startups is very alarming and needs to be checked urgently. I cant say I'm fully in support of government regulations on cryptocurrency but the rate at which crypto startups are deliberately coming out to scam the community is not so cool and needs to be checked urgently.

[Blaze]

Scams who try their luck in the cryptocurrency world will always be there and indeed have to be careful with existing projects, don't choose the wrong choice because it will make you lose.

[Spaqo99]

People who are criminal minded will always want to cheat others and cryptocurrency is no different but there is need for continuous improvement in blockchain which will boost the confidence of investors

[damsix]

Until now, fraud from cryptocurrency has always existed.
See the results of the Bounty for KYC which can be taken for personal gain.
Exchange that can simply close without refunding the users.
Airdrop scams to take KYC etc.

So whenever there will always be fraud in the digital world, it's just that we can minimize it by being careful.

[Noverteno]

Cryptocurrency scams will almost always exist, since the Internet and anonymity provide fraudsters with a comfortable environment for their activities.  Decentralization in cryptocurrency is not able to effectively combat hacking and fraud.  The situation can be saved only by the state organizational regulation of this type of activity.  This primarily applies to ICO projects and their teams.  If the ICO team is registered and verified by the relevant government agencies, the level of fraud will drop dramatically.

[@chison]

Cryptoccurrrrency scamming won't go away ass long as human still exist.  People with rogue can mind will want to cheat the system and rob investors of their money and asset

[hushpupppy]

There is only one way to overcome frauds and scammers in the crypto currency space, and this can be achieved when you and I decide to always do our own research before investing in any token whatsoever.

[sampoerna]

The answer is NEVER.
Why?
Because where there is good thing, there will be always bad thing. This is like two sides of the coin, cannot be separated. We can stop the scams because we cannot rule everyone, we cannot know who they are. And we also cannot know what is behind the scam. Scammers will always exist with their new and new ways of scamming, phishing, and also other deceiving ways to get money from their victims.

[jonathancool220]

I think it is difficult for cryptocurrency to be free from fraud because cryptocurrency is indeed a Peer to Peer financial system, aka there is no intermediary or escrow.
If the bank has an intermediary between the saver and the borrower, the cryptocurrency does not and this is a difficult obstacle to free the cryptocurrency from fraud.

[labonikhatun]

Getting rid of crypto scams is not easy as long as there is crypto the number of scammers will increase the higher the crypto market the more scammers will dominate blockchain technology will improve crypto, even if it doesn't fade with the new blockchain system. Transaction arrangements will be simpler and will make it easier to store data it will not be easy for hackers to hack.

[theflashbutchill]

Nah, I think scams will always exist no matter what precautions there might be. It's just in the human nature to want things, but not wanting to work for them 

[Thymoty]

We cannot secure a decentralized crypto market. If we as a crypto community create regulations that govern how a crypto platform works, it is deviating from the crypto idealists, which are decentralized. No matter how secure we make a security system, there must be a way for hackers to break into the system, because nothing is safe on the internet.

[I-Bit]

Commonly, crypto scams will have another whitepaper copy this and share it with the public. Now, most people may also think about it. Scam will be always scam and whatever they do is that we are too worthy to lose it to you. Just keep going to another project except the one in the chainlink

[Condorlaib]

I believe that fraud can never be eradicated, because fraudsters will always try to make a profit where there is a sufficiently large turnover of funds. In addition, the only thing that can fix this problem is effective resistance, creating not only a system for detection and punishment, but also a security system for the entire cryptocurrency market.