We got a problem in crypto world. It might be teething trouble. It might be the Great Wizard who plans and manipulates us all.
Whoever or what ever it is, it's a bottle neck and a weakness, and a big pain in the nether regions of Crypto-Space.
That problem is EXCHANGES.
Being new to buying coins i did what i believe was due diligence and researched the ins and outs of the situation before i took the plunge. I found to my horror, that for me at least, the best way to buy BitCoin was ATMs.
The list of exchanges i made was as long as the time spent researching.
My system is to rate exchanges as good in blue, bad in red.
Nearly all the long list is RED.
The list was based on reviews of users on various posting sites. Very few of the Exchanges were free from problems. Some i took a risk to register and they NEVER WORKED, not one time. Some constantly showed a pop-up saying that they were under maintenance.
Many appeared to be Middle Men who got in to position and were there to take, screw and gauge as much as possible, some were just financial mafia skimming operations doing just enough to keep the pretence going until they collapsed. There were punishing exchange rates and processing fees too.
The situation, being what it seems, with these middle men, then including sending loads of personal ID, private addresses, personal Banking details voluntarily sent off, into who knows where, just gives me the creeps. How is this Crypto?
Who are 'THEY' to be so trustworthy?
Before i trust them they should send me their details, after all i am giving them my money/coins.
All this 'We are registered by Financial Watchdog Agency BLAH Blah', huh! So was Bernie Madoff!!!
So, Banks and Corporations and Governments are so trustworthy that we are hypnotically, deer in the headlight style, just to give it all up and send them personal, private details and your money too? Do i have to go through the recent list? The Silver rigging scam just last week and Venezuela's horrific decline over the last few years, the President of Brazil, Christine Laguard and on and on?...
I know there are new PEER to PEER platforms around 'somewhere' but they should be the majority in my opinion or Crypto-Space is going to be the same as Finance space.
FWIW: It is clear to me that we have a STONE AGE contrivance connected to 21st Century technology.
We decent people, who make the whole thing hang together have to take a day to day responsibility in how we deal with new things so that's what i am trying to do.
If you know of better platforms or better ways (Apart from STEEM). HELP!
Big Love
R 4WSF