[2018-04-17] Localbitcoins Now Demands ID For ‘Significant’ Trade Volumes

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

People can find each other anywhere on the Internet, even in places with no inbuilt escrow system (like here, for example). People who are determined

The services that will gradually begin to grow in popularity are decentralised exchanges like Bisq so that people don't have to keep flocking between several different centralised platforms based on whoever temporarily has the best policies.

For now, this will probably make a dent in the market before people find the best solution for them.

Quote from: Arabella.Theo on April 17, 2018, 02:30:35 PM

From my experience they ask for ID on every transaction.

Individual sellers often do because they don't want to be caught out trading with criminals, but it wasn't imposed by the site.

Arabella.Theo

newbie

Activity: 52

Merit: 0

From my experience they ask for ID on every transaction. I think there is a space for a completely decentralised local bitcoin type website that links buyers and sellers. For low amounts anyway. I don't really blame then for introducing KYC. They will be shut down otherwise

Carlton Banks

legendary

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Bisq or OpenBazaar can just take all of LocalBitcoin's previous business, no problem really.

jjacob

legendary

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★Nitrogensports.eu★

Quote from: tyz on April 17, 2018, 01:27:43 PM

Localbitcoins Now Demands ID For ‘Significant’ Trade Volumes
Peer-to-peer Bitcoin trading platform Localbitcoins is causing controversy on social media after users complained about surprise anti-money laundering (AML) and know-your-customer (KYC) measures.
http://bitcoinist.com/bye-anonymity-localbitcoins-id-kyc/

It is indeed surprising that a platform which facilitates peer to peer trading is trying to implement measures which people usually expect from banks and arms of the government. The time is ripe for a decentralized platform to emerge as a popular alternative.

tyz

legendary

Activity: 3360

Merit: 1533

Localbitcoins Now Demands ID For ‘Significant’ Trade Volumes
Peer-to-peer Bitcoin trading platform Localbitcoins is causing controversy on social media after users complained about surprise anti-money laundering (AML) and know-your-customer (KYC) measures.
http://bitcoinist.com/bye-anonymity-localbitcoins-id-kyc/

Topic: [2018-04-17] Localbitcoins Now Demands ID For ‘Significant’ Trade Volumes (Read 143 times)