Having Anonymous Developers a Red Flag to Crypto Project

in LeoFinance2 years ago

There are a lot of people on the blockchain who seems to remain anonymous just for the sake of privacy. Now the question is suppose an anonymous developer has created a nice crypto project, whether you will invest in it or not. Since he/she is anonymous there is no way we can track him down if down the line he just abandoned the project and run away with all the money.

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PC: Pexels.com

Then there is a famous Satoshi, who has successfully remained anonymous in all these years but the good thing about Bitcoin is that there was no mechanism that he could have held a large chunk of Bitcoins and dumped it. But there are other instances where we have seen that having an anonymous developer is actually not a good sign for a good project. First of all, not all anonymous developers are bad, to be honest, but there can a be a reason a developer is anonymous because he/she is trying to hide all the previous misdoings he has done and he is anonymous so that people will still invest in his project.

Who wouldn't have known about the Squid Game Crypto Scam, do we know any of the developers of the Squid Gam, No and because of that no one can track it back to those people who actually scammed the whole thing. There are instances where a past well-known project member seems to be a financial crime and when people came to know about the same thing they abandoned the project. So when a crypto team is picked up, the team member also should be checking every team member's past track record to check if they have any criminal or wrongdoings in the past. This will ensure that the crypto project can run smoothly in the future.

So having anonymous developers actually removes the accountability and credibility of a crypto project to some extent and it will become more and more red flag when we are dealing with any crypto project in the future.

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Yes, when you hold a banknote in your hand, you know the source of its origin, you can find out everything about it that is required for its use, and even this does not become a guarantee of your safety)

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It depends on where you are getting that banknote though. Jokes apart, even though you are earning crypto it should be of some value, to be honest.

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Yes, I would have a different attitude towards banknotes in Venezuela, or in Nigeria. lol. As for the value of cryptocurrency, for me it is determined in a natural way, by counting daily and monthly expenses, relying only on cryptocurrency.

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Of course, if you are forced to exchange it for wooden buttons, and not for real money, then it is difficult to talk about value. How do you define its value for yourself? For me, this, as I have already told you, is my ability to solve all pressing issues. at her expense. I don't want to go into macroeconomics and geopolitics, let's talk about something more mundane.

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