Applying broken windows theory to cryptocurrencies by behiver

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hive-167922 · @behiver · Sep 26 '22

$6.07

Applying broken windows theory to cryptocurrencies

The broken windows theory was conducted in 1969 by Philip Zimbardo as an experiment to extrapolate human behavior and if there are connecting behaviors triggered as an effect. He parked two cars without license plates and observed what happens to them. One was parked in The Bronx, New York, and the other in Palo Alto, California. The car in The Bronx was wracked and dismantled within ten minutes, while the one in California remained untouched. This happened until Zimbardo broke a window. Once that happened, also the car from California was robbed and vandalized. Why did this happen? Because the broken window incited more violence and vandalism.

![crypto_broken_windows.jpg](https://images.hive.blog/DQmVJ3DrbYr9AuHpZLEUchTtySQKWQQkyLzQCYEf2aj1DL6/crypto_broken_windows.jpg)

Now I come to you and ask if the theory of the broken windows applies in any way also to cryptocurrencies. I think that a negative event can have unforeseen bad ripple effects in that space. We all have seen hacks happening in crypto projects and that will only attract other bad actors to do the same. Like in the Wild Wild West, the bad cowboys are finding here a space where they can manipulate, scam, and hack people with too little knowledge about crypto technology and the risks it implies.

Crypto projects need to ensure that "the windows of their cars cannot be broken so easy" and prioritize this before going into too much depth with the technology innovations. There must be a balance in between, without throwing out of the window the security for the benefit of advancing technologically. Because when the car window gets broken, others might fall as well until the entire car gets wrecked. That translates also to people leaving the project and never going back as the trust is lost forever.

![image.png](https://images.hive.blog/DQmfBz9VcDHvqiwHwofiNy5yxjg57seVkM5yFi6WiDHaHeR/image.png)

And if we want to avoid the ripple effect of a broken window in crypto as it happened in the past and we have seen new occurrences as well is to not hold your crypto assets on Centralised Exchanges. **Not your keys, not your crypto** is not a joke, and at some point, it might bite you from the butt. For now, you don't think that it can happen to you, but believe that it will happen. I went through two such bad experiences, but I was lucky enough not to have many funds held on CEXes. One thing I've learned and moved away from those at least for my big number of assets that I am holding.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/applying-broken-windows-theory-to-cryptocurrencies)

👍 onealfa, arcange, dalz, liotes.voter, muratkbesiroglu, onealfa.leo, ph1102, costanza, achim03, chorock, howzat, unpopular, nateaguila, diverse, julianhorack, toofasteddie, voter003, hykss.leo, dcityrewards, finguru, successforall, hive-143869, thisisawesome, acesontop, marianaemilia, fengchao, steemexperience, jmsansan.leo, scooter77, uwelang, seckorama, daan, xabi, cleanplanet, richardcrill, exyle, jacuzzi, steemitboard, dcrops, gadrian, we-are-lucky, tbnfl4sun, pladozero, ro-witness, jfang003, scaredycatguide, reazuliqbal, russellstockley, eforucom, felander, laruche, pardinus, we-are, webdeals, mytechtrail, newtrailers, hive-data, iansart, sportfrei, hivebuzz, dlike, forexbrokr, pixiepost, tomiscurious, and 199 others

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@acesontop · Sep 26 '22

$0.11

Same goes the opposite.

👍 behiver

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@behiver · Sep 26 '22

RE: RE: Applying broken windows theory to cryptocurrencies

That's for sure!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-acesontop-6h5s89)

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@cryptosnowball · Sep 26 '22

$0.11

I never heard about the window experience that incites people to make more violence. I don't know if this applies to the crypto space, but is an interesting concept.

👍 behiver

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@behiver · Sep 26 '22

RE: RE: Applying broken windows theory to cryptocurrencies

I see it applied to crypto as past hacks attract other hackers to try the same.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-cryptosnowball-qic63)

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@curation-cartel · Sep 26 '22

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@dwayne16 · Sep 26 '22

RE: Applying broken windows theory to cryptocurrencies

anything that have too many risks involve I don't it anymore especially with my money.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@dwayne16/re-behiver-2zhe9v)

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@jfang003 · Sep 26 '22

$0.96

RE: Applying broken windows theory to cryptocurrencies

That does make sense and I have moved out my funds from the CEXes. It's not worth the risk to get some extra crypto when they could just claim all of my balance. It makes me wonder if we can say the same for Defi because we have to loan out our crypto when we enter farms and it's out of our control. I like HP for the reason that everything in regards to it is still in my control.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-behiver-49kewr)

👍 bdvoter, behiver, diverse
👎 antisocialist, freebornsociety, xbdvoter

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@behiver · Sep 26 '22

RE: RE: Applying broken windows theory to cryptocurrencies

Keeping our assets safe should be a priority as the crypto while is coming with innovation and development has breaches that can be exploited.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-jfang003-4hjase)

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@julianhorack · Sep 26 '22

$0.86

RE: Applying broken windows theory to cryptocurrencies

Apparently in India they keep the buildings looking run down on the outside because it keeps the tax payments lower, or something like that. 

Here in South Africa I like to "dress down" too by keeping my car looking rusty with a cracked window so that it becomes less appealing to car thieves which are prolific here. I'm not sure how valid my logic is.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@julianhorack/re-behiver-4fkdxw)

👍 bdvoter, behiver
👎 xbdvoter

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@behiver · Sep 26 '22

$0.09

RE: RE: Applying broken windows theory to cryptocurrencies

Also, the surroundings matter as if you are in a good zone and secure, probably having a good-looking car is not a problem. But if the car seems abandoned that might make others try to benefit from it and as a ripple effect, others will try to do the same.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-julianhorack-5ojnmz)

👍 julianhorack

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@julianhorack · Sep 26 '22

RE: RE: Applying broken windows theory to cryptocurrencies

Yes the situation may vary from place to place, as the experiment you mentioned suggests. I hope cryptocurrency revives its polished appeal so that it is not a target of desperate people.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@julianhorack/re-behiver-6xknka)

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@ph1102 · Sep 26 '22

$0.11

I didn't know about the broken window theory, but I do agree that it can be applied to cryptocurrencies... The whole crypto (and blockchain) concept is very young and it will need some more time to "fix" small issues... Until then we can expect wild west happening here, but I suppose it's normal for everything that's "an idea in development"... 

---
*I have picked this post on behalf of the @OurPick project which will be highlighted in the next post!* 

[![Comment Footer.jpg](https://files.peakd.com/file/peakd-hive/ph1102/23vi6UCc5Wi27NhPSnLFHgzwUZ8NNdWdCkZe1b3VLFZxswQDucw7QiLa4zw64n4woS3BJ.jpg)](https://liotes.com/)

👍 behiver

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@behiver · Sep 26 '22

$0.05

RE: RE: Applying broken windows theory to cryptocurrencies

I simply want to reach a point where we don't hear about hacks over and over again. But as crypto is based on code, probably all the time someone will find a way to exploit it.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-ph1102-qlwf7)

👍 ph1102

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@pizzabot · Sep 26 '22

<center>PIZZA!


PIZZA Holders sent <strong>$PIZZA</strong> tips in this post's comments:
@curation-cartel<sub>(20/20)</sub> tipped @behiver (x1)


<sub>Learn more at https://hive.pizza.</sub></center>

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@poshtoken · Sep 26 '22 (edited)

$0.11

https://twitter.com/behiver1/status/1574291495443746816
https://twitter.com/thecryptorunner/status/1574296688805683206
https://twitter.com/AdrianPapava/status/1574428636547096577
<sub> The rewards earned on this comment will go directly to the people( @behiver, @toofasteddie, @acesontop ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>

👍 acidyo, diverse

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@thecuriousfool · Sep 26 '22

$0.11

This is a very interesting theory that reflects how people reacts to "broken" things.

Thanks for sharing.

!1UP
<hr>
<div class="text-center"><a href="https://discord.gg/zQrvxAu7mu"><img src="https://files.peakd.com/file/peakd-hive/thecuriousfool/23wCNFDyCLJu1v77TTg2MYKkd7XWkgF9fhiLujTDAaLaUz7H4AaQkDentB5UMVS8FcrVs.png"></a></div>

👍 behiver

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@behiver · Sep 26 '22

RE: RE: Applying broken windows theory to cryptocurrencies

The social ripple effect incites others to benefit from breaches in the system.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-thecuriousfool-26rhbd)

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@toofasteddie · Sep 26 '22

$0.12

This reminds me I have some BTC still spread in a couple of CEX which I have to treat conveniently

👍 behiver

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@behiver · Sep 26 '22

$0.05

RE: RE: Applying broken windows theory to cryptocurrencies

Better hold it in the wallet, now more than ever as the market is way down.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@behiver/re-toofasteddie-6pfawv)

👍 toofasteddie

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