Topic: [ANN][NIM] - Nimiq - The Browser Based Blockchain - page 115. (Read 131288 times)

VLOG 46 Update: Nimiq Dev Team Grows Bigger

In this VLOG we Introduce some of our new team members that join our Dev Team.

For a developers reference of Nimiq check our new  Documentation.

Considering :

• That users from Australia have no problem whatsoever in regards to KYC I don't see a reason why you would be concerned, let alone feel your confidence is destroyed.
• KYC process is required to ensure the project complies with regulations and increases chances to be successful in our goal of achieving crypto mainstream adoption.
• We will only require personal information, no background information or origin of crypto assets.
• The KYC process will be executed by third-party providers that follow the strictest rules regarding security and management of the information.

So given all the above, I can't seem to understand why you feel that way.

There is a benchmark in nimiq.community/benchmark

Cool. Thanks for the interest. Maybe you can tweet about it 

Ryzen I think. There is a table somewhere on the Internet with comparisons between CPUs.

Which processor would be more effective, an Intel xeon server or Ryzen thread ripper

Fast and simple blockchain with small base - it's good idea. Respect!

The devs' responses to questions about the KYC destroyed our confidence in this project. We have sold our holdings.

IndiaMikeZulu, Australia

I don't understand why you think this is some kind of vendor/customer relationship.


We couldn't have anticipated the current legal environment Blockchain projects are forced to deal with right now. But even though we didn't want to bother users with KYC last year during our Crowdsale, we still added this requirement in the terms you had to agree upon participating:

We may determine, for regulatory compliance purposes, that it is necessary to obtain certain information about you in order to comply with applicable laws or regulations in connection with accepting contributions to create and allocate NET to you or transfer NET to NIM. You agree to provide us such information promptly upon request.

No. We are only asking users to complete KYC in order to use NET-to-NIM replacement tool. That is all.


KYC is required at this point to ensure the project complies with regulations in several countries, this is obviously required for our project to be a success which is ultimately our main goal.


Using a 3rd party KYC provider is actually the safe a responsible way to go.


Now this is just FUD and nonsense. We have carefully selected KYC providers than follow the most strict rules and security standards. This is a delicate part of the the process and of course we are taking it with all seriousness deserved by this matter.


You are again just trying to create FUD. We will not require origin of BTC or any other Crypto. We won't ask any background information to the users, only basic personal information. As I have stated before:

Ensuring our project complies with regulations is the total opposite of Scam.


US was excluded from our Token Sale as well as in the NET-to-NIM replacement process, nothing changed there. Something tells me you didn't participate (or didn't checked the terms) in the Initial Token Generation of NET.

Sounds scam, to take all your info and deny your coins if they deem you from 'the wrong country'. Sorry to see they are gonna keep your coins for themselves it seems. Anyone can send these yo-yos fake ID from online search anyways, how will they even know? Have fun looking at these ugly monkeys faces on ID @ nimiq hahahaha.

Surely they didn't have KYC requirements while selling their ICO. They never disclosed that some countries would be excluded from receiving their promised product, but just as well took your money. Sounds like they need 'cover' to steal your coins and still seem legitimate. Anyone else think this is fraud, or just me?

Here is ID, pls send NIM:

in case it wasnt clear what i was talking about:

Nimiq Foundation (you) create the ERC-20 token.
Nimiq Foundation (you) sells the ERC-20 token for promise of future NIM Coins on Nimiq Network (browser based blockchain, no cryptocurrency).
Nimiq Foundation (you) create the Nimiq Network.
Nimiq Foundation (you) set the parameter to issue NIM Coins to miners.
Nimiq Foundation (you) are the first to mine...

now there are two ways to look at the next step:
1. you BUY BACK OUR ERC-20 Token for your NIM coin at a fixxed rate, actually, your are my customer and i dont want kyc from you.
2. we call it exchange, i change my NET Token on Ethereum for NIM on Nimiq. (now i see both scenarios doesnt have to include kyc)
--you really should have collected kyc at the net sale. do it now makes no sense whatsoever. because:

Nimiq Network mainnet goes live.
Nimiq Network continues to create NIM Coin, issued to miners (anonymous users of the nimiq network)

now i dont know your numbers, lets say 20% of all users are KYC victims (very high risk of getting identity stolen). 80% anon users at mainnet.

whatever happens on the nimiq network is ultimately nimiq foundations creation.
each NIM created by the automated process of creating nim for work on the network is issued by the NIMIQ foundation.

now if you say you can only exchange NIM for NET if we provide KYC ultimately means that in future you,
HAVE TO get KYC from EACH and EVERY user of the NIMIQ Network because each address holds a share of the networks wealth.
it can only be used if people provide kyc. simple as that. imagen you are the new visa, visa work without documents? no.

but if you say "we buy back your NET for our NIM" then KYC is no issue.
dont forget, there is no law and we have to work on creating laws for crypto/blockchain/ico that work.
kyc in this case is only a "lets go the save route" for current laws that dont apply to the situation, which may destroy your reputation.

one of the biggest issue is that you want a 3rd party to controll the kyc data.
your security doesnt matter here. kyc data will be stolen or sold at one point in time.

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great article with some really stupid comments.
really? na funds eu terror via ico? ok there is the money, what else they need, right, arsenal.
wait, i predict crypto warfare is the next big thing. need to stock up on cyber guns.
oh wait, already illegal unless issued by goverments. or are they?
pretty sure they are. however, why dont we only provide acceesss to the internets via passport.
aw crap, too late.

You can check an official list made by the community at https://nimiq.community/benchmark

nope, it doesn't seem to be official

Does this official spreadsheet for Nimiq CPU hash rates??
just to be 100% sure

https://docs.google.com/spreadsheets/d/1RjU6aQnRcXj6RQOGkG8DAscFjWyV1axdSECJbWy0c7c/edit#gid=0

Simplifying the blockchain is one of the most needed things right now, in my opinion.

In one end we are working with renowned KYC providers who follow the strictest security policies, and on the other, we have top cryptographers in our team, a security expert working with us as our internal auditor and a third-party auditor looking at our code. So is safe to say we care a lot about security. Regarding the information, we are still defining details with our KYC provider but for now I can comment that we are only going to ask personal information about the user. No weird questions or background information.

Since it involves a lot of legal affairs it is, of course, a slow and intricate (but much needed) process. But we plan to have it running soon so we give enough time for users to complete KYC before mainnet launch.

Nimiq the only ICO and project where I’ve felt like part of a community
The goal of Nimiq is to make a cryptocurrency easy to and less intimidating without being taken as a complete joke like Dogecoin

What about hacks?

And here's some insight into what 'KYC' might include: 'it is now commonplace for an individual to have to submit a passport scan, bank statement, and various other documents and to answer a string of questions about their background and the origin of their cryptocurrency. Legolas, for example, requested that investors “Provide as much detail as possible about the origin of the BTC”.'

https://news.bitcoin.com/kyc-requirements-are-making-icos-riskier-not-safer/