Author

Topic: [ANN][NIM] - Nimiq - The Browser Based Blockchain - page 117. (Read 131288 times)

IMZ
legendary
Activity: 1498
Merit: 1000
Calling people 'idiots,' altcoiner555? Thanks for that!

There are, I feel, a range of questions that the devs should be here answering right now.

Please go ahead and ask them Smiley

Firstly, what documents and information constitute 'KYC'? When Bittrex launched an enhanced-verification project last year, they arrogantly assumed that their KYC processes encompassed every national-postal-address system on the planet. As a consequence, I experienced days of drama -- locked out of my account.

If 'KYC' remains a set of unknown documents/information, then where do I stand? Do I hold on to my tokens until the conversion begins, only to find that I am simply unable to 'KYC'?

Secondly, check the latest Vlog. A Nimiq team member is seen making little electronic hats for little electronic heads. Meanwhile, both this thread and the Reddit have token holders expressing concerns about losing their holdings -- ??
jr. member
Activity: 251
Merit: 6
Calling people 'idiots,' altcoiner555? Thanks for that!

There are, I feel, a range of questions that the devs should be here answering right now.

Please go ahead and ask them Smiley
jr. member
Activity: 251
Merit: 6
KYC - Know your Customer, just google it...

so to get our NIM we have to send you our data?!

how is the network goin to work? ....
"sorry to create a wallet you need to send us your id"
"sorry, please fill out these forms to participate in mining"
"sorry, to collect your mined coins please fill out these forms and proove that you are allowed to circulate the coin"

i know you try to follow the rules ... and i understand that we dont want anyone here financing some terror and yes this is a browser based blockchain and no cryptocurrency but how is the service going to make up for the loss in financial freedom we get when sending our documents?

btw, thats why i advertise deeponion!

Well, if this the case then this project is more than dead.
The reason why crypto exists is because no one should control over our own money.
But if i have to send my ID to you and fill out stupid things to mine and collect my money then why should i use your service?
Not only do you have my ID and thats terrible enough but also you can control me and my money. No thanks.

This is incorrect. To comply with regulation you have to do KYC to use our NET-to-NIM replacement tool. This doesn't mean you have to do KYC to create a wallet, send/receive NIM or to use any app from the Nimiq Ecosystem. If you join our community you'll find this project is far from dead
legendary
Activity: 3108
Merit: 1531
yes
The matter is quite clear: KYC will be required for swapping a NET token for a Nimiq token. If local law prohibits someone from such swap, no swap for him. Complain to your local legislator if you do not like this. And send me your cheap NET tokens by dumping them  Cheesy
IMZ
legendary
Activity: 1498
Merit: 1000
Calling people 'idiots,' altcoiner555? Thanks for that!

There are, I feel, a range of questions that the devs should be here answering right now.
sr. member
Activity: 356
Merit: 250
You people are idiots. The KYC is not for creating a wallet or mining. It's for initial swap participants and is same as ICO T&Cs. The regulators are cracking down, all ICO/swaps will have to do this or risk being delisted, shutdown, fined or imprisoned.
F2b
hero member
Activity: 2135
Merit: 926
KYC - Know your Customer, just google it...

so to get our NIM we have to send you our data?!

how is the network goin to work? ....
"sorry to create a wallet you need to send us your id"
"sorry, please fill out these forms to participate in mining"
"sorry, to collect your mined coins please fill out these forms and proove that you are allowed to circulate the coin"

i know you try to follow the rules ... and i understand that we dont want anyone here financing some terror and yes this is a browser based blockchain and no cryptocurrency but how is the service going to make up for the loss in financial freedom we get when sending our documents?

btw, thats why i advertise deeponion!

Well, if this the case then this project is more than dead.
The reason why crypto exists is because no one should control over our own money.
But if i have to send my ID to you and fill out stupid things to mine and collect my money then why should i use your service?
Not only do you have my ID and thats terrible enough but also you can control me and my money. No thanks.
This is exactly what I think. Maybe my previous post was not very clear, but this one is a good summary of what I think about all this administrative problems.
member
Activity: 107
Merit: 10
KYC - Know your Customer, just google it...

so to get our NIM we have to send you our data?!

how is the network goin to work? ....
"sorry to create a wallet you need to send us your id"
"sorry, please fill out these forms to participate in mining"
"sorry, to collect your mined coins please fill out these forms and proove that you are allowed to circulate the coin"

i know you try to follow the rules ... and i understand that we dont want anyone here financing some terror and yes this is a browser based blockchain and no cryptocurrency but how is the service going to make up for the loss in financial freedom we get when sending our documents?

btw, thats why i advertise deeponion!

Well, if this the case then this project is more than dead.
The reason why crypto exists is because no one should control over our own money.
But if i have to send my ID to you and fill out stupid things to mine and collect my money then why should i use your service?
Not only do you have my ID and thats terrible enough but also you can control me and my money. No thanks.
newbie
Activity: 107
Merit: 0
looks good. i need japanese translation. if you have it.
sr. member
Activity: 546
Merit: 254
ʕʘ̅͜ʘ̅ʔ
KYC - Know your Customer, just google it...

so to get our NIM we have to send you our data?!

how is the network goin to work? ....
"sorry to create a wallet you need to send us your id"
"sorry, please fill out these forms to participate in mining"
"sorry, to collect your mined coins please fill out these forms and proove that you are allowed to circulate the coin"

i know you try to follow the rules ... and i understand that we dont want anyone here financing some terror and yes this is a browser based blockchain and no cryptocurrency but how is the service going to make up for the loss in financial freedom we get when sending our documents?

btw, thats why i advertise deeponion!
full member
Activity: 417
Merit: 105
I don't understand... Why do they care about that? I mean, the KYC. Cryptocurrencies were creater to avoid states and régulation. Why do they need this?
I assume that I don't know the legislation over there but it's quite confusing...

This is because they are concerned that their token will be labeled as a security in the future.  Right now it is unclear what specifically the us regulatory authorities will do in regards to this, but there are some positive signs coming out recently that not all ICO will be considered securities, and that even a new asset class will be created just for cryptos.
legendary
Activity: 3108
Merit: 1531
yes
There is probably a chance that swapping a token would be some kind of ‘issue’ event for securities law or something, requiring KYC. I wonder whether some smart fellow will set up a private swap pool for US residents to do the swap for them.
F2b
hero member
Activity: 2135
Merit: 926
I don't understand... Why do they care about that? I mean, the KYC. Cryptocurrencies were creater to avoid states and régulation. Why do they need this?
I assume that I don't know the legislation over there but it's quite confusing...
sr. member
Activity: 882
Merit: 252
Sure they will change NET to NIM, that's the whole point of the project and the ICO
member
Activity: 99
Merit: 10
Nimiq won't transfer Net to Nim.  Sounds like a lawsuit.
sr. member
Activity: 882
Merit: 252
Not really sure how that would work but I'm sure you're not the only one so people should be able to find a way I think
newbie
Activity: 21
Merit: 0
So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks

Hey, cc

'Based on the changing regulatory environment, our legal counsel has driven us to require this KYC process (anticipated in the NET Creation Terms). This goes along with the same restrictions regarding sanction lists, politically exposed persons, as well as restrictions for certain jurisdictions (ie. USA) as previously experienced during the NET Contribution Process. This will permit the Nimiq project as a whole to maximize probability to comply with regulations in various jurisdictions and thus support the underlying factors regarding Nimiq mainstream adoption in the future.'

https://medium.com/nimiq-network/roadmap-to-mainnet-ee557efd74d4

Ok so what is suggested I do with my tokens? Sounds like I just lose them?
full member
Activity: 280
Merit: 100
So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks

Hey, cc

'Based on the changing regulatory environment, our legal counsel has driven us to require this KYC process (anticipated in the NET Creation Terms). This goes along with the same restrictions regarding sanction lists, politically exposed persons, as well as restrictions for certain jurisdictions (ie. USA) as previously experienced during the NET Contribution Process. This will permit the Nimiq project as a whole to maximize probability to comply with regulations in various jurisdictions and thus support the underlying factors regarding Nimiq mainstream adoption in the future.'

https://medium.com/nimiq-network/roadmap-to-mainnet-ee557efd74d4

Why do we need kyc? I don't understand that, the sale is already finished and you are just giving everyone with tokens in one account an equivalent in nimiq, there is no new value that gets generated etc.
IMZ
legendary
Activity: 1498
Merit: 1000
So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks

Hey, cc

'Based on the changing regulatory environment, our legal counsel has driven us to require this KYC process (anticipated in the NET Creation Terms). This goes along with the same restrictions regarding sanction lists, politically exposed persons, as well as restrictions for certain jurisdictions (ie. USA) as previously experienced during the NET Contribution Process. This will permit the Nimiq project as a whole to maximize probability to comply with regulations in various jurisdictions and thus support the underlying factors regarding Nimiq mainstream adoption in the future.'

https://medium.com/nimiq-network/roadmap-to-mainnet-ee557efd74d4
newbie
Activity: 21
Merit: 0
So if I hold NET and I am from the USA I will be shit out of luck? As in sorry I just lose my investment? Can someone please let me know whats up. Thanks
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