Are You Afraid of KYC? - page 31. | Bitcointalksearch.org

Dreamchaser21

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Quote from: RuslanDua on April 09, 2018, 02:55:05 PM

I for example not that am afraid. I just do not want my data to go everywhere. From where I know how they will use my data. Now the age of technology can do a lot just enough to be able to. I personally for the fact that all ICO warned in advance about the procedure KYC, and then many do it in the end. I'll negate it. They do not need information about me

It is still your choice at the end of the day, most of the ICO's required this thing now and if you don't like the project then don't participate. KYC maybe a big thing in the future now since it is being regulated, and hopefully to be used it good things. KYC is really risky to some people but we have to live with it so we cryptocurrency can stay for good.

nankers

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Bounty Hunter Indonesia

Quote from: CryptoBry on March 10, 2018, 11:48:47 PM

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

actually im no problem about fill out form KYC but sometimes i think my personal information is very private and important. im scared if my personal data use to crime. maybe some people in here thinking like that. therefore all this time I always fill KYC form only for some safe and reliable website only

Blong17

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I think we cannot oversee yet what problems can be caused by identity frauds. I don't mind sharing a profile link or country of inhabitance, I do mind having to upload identity documents. It is a dilemma though, because I do want to participate in ICO's. If I choose to join an ICO, I do my research, but even then it's still a guess. I think we will have to learn to live with some amount of uncertainty of the digital world. I support the goal of KYC, but there is little control over scam projects. And I'm not sure if regulation will ever rule this out.

RuslanDua

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I for example not that am afraid. I just do not want my data to go everywhere. From where I know how they will use my data. Now the age of technology can do a lot just enough to be able to. I personally for the fact that all ICO warned in advance about the procedure KYC, and then many do it in the end. I'll negate it. They do not need information about me

maarx

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cloverdex.io

Quote from: markflayer on April 09, 2018, 02:19:39 PM

KYC is problem for user of those countries who have banned crypto currencies. Because user never want to be shared his personal detail with Govt and authorities.

Though legit ICOs do require documentation to identify if the customer is from a country that allows citizens buy crypto currencies, its bit hesitating to hand over the documents as have an experience in scam moments. Its 50 to 50. When promising projects do encourage investing into it with all documents needed, it urges us to go further ignoring the fear behind. For an example, i had to get into Eligma website to complete KYC to get Eligma tokens. Just went through hoping its a good project and yes certainly protection would be there for the documents i provided. Hence be pro-active and invest.

markflayer

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KYC is problem for user of those countries who have banned crypto currencies. Because user never want to be shared his personal detail with Govt and authorities.

biboy

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Quote from: Palmerson on April 08, 2018, 08:03:58 AM

Quote from: Spaffin on April 08, 2018, 07:19:33 AM

I do not think that the KYC test will be so necessary and popular as you describe it. Practically in every state there is a law on the protection of personal data of citizens, which protects citizens from transferring their personal data to other persons without special need. In addition, the European Union recently adopted a general normative act that additionally protects citizens from the use of their personal data and grants them the right to demand the destruction of such data on demand.
Therefore, the KYC check will, in time, be applied only in special cases, when it will be impossible to do without it and will provide additional guarantees against the abuse of this right.

KYC verification is applied everywhere. We are forced to do it now at every exchange. To participate in the ICO, you also need to provide personal data. We will never be able to find out the source of our personal data now. I do suggest to rename these data in public.

Although, we are not comfortable in KYC but for me it is one factor to tell that a certain company is a legit one, because scam ICO doesn't care about KYC, so even though we don't like KYC if the law required so ICO team won't do something about it but to follow about it.

Palmerson

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Live cams shows pimped with cryptocurrency

Quote from: Spaffin on April 08, 2018, 07:19:33 AM

I do not think that the KYC test will be so necessary and popular as you describe it. Practically in every state there is a law on the protection of personal data of citizens, which protects citizens from transferring their personal data to other persons without special need. In addition, the European Union recently adopted a general normative act that additionally protects citizens from the use of their personal data and grants them the right to demand the destruction of such data on demand.
Therefore, the KYC check will, in time, be applied only in special cases, when it will be impossible to do without it and will provide additional guarantees against the abuse of this right.

KYC verification is applied everywhere. We are forced to do it now at every exchange. To participate in the ICO, you also need to provide personal data. We will never be able to find out the source of our personal data now. I do suggest to rename these data in public.

Spaffin

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I do not think that the KYC test will be so necessary and popular as you describe it. Practically in every state there is a law on the protection of personal data of citizens, which protects citizens from transferring their personal data to other persons without special need. In addition, the European Union recently adopted a general normative act that additionally protects citizens from the use of their personal data and grants them the right to demand the destruction of such data on demand.
Therefore, the KYC check will, in time, be applied only in special cases, when it will be impossible to do without it and will provide additional guarantees against the abuse of this right.

tambok

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Quote from: Coffee135 on April 06, 2018, 12:18:06 PM

Quote from: bryant.coleman on April 06, 2018, 08:12:55 AM

If KYC is used for good purposes, then there is nothing to be worried about. More than 90% of the crypto users don't have an issue in paying taxes on their profits from Bitcoins. But there are certain countries where the corrupt officials will use the KYC information to blackmail you or to force you to pay bribes.

I do not believe that 90% of cryptocurrency users have no problems with taxes. Rich people always minimize their taxes. We know the statistics that the main amount of bitcoin coins is concentrated in the hands of a very small number of users. These people have always been attracted to the anonymity. If they leave bitcoin it will cost nothing.

If it is really required then what we can do is to just follow because it is the requirement of our government so we cannot do something about it, and after all they are telling in the first place if KYC is required so we are still free to choose whether we will gonna join or not.

beej

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Quote from: marielbeckham on March 21, 2018, 06:02:51 PM

Everything depends on the particular project. It is definitely compulsory to undertake a thorough investigation before doing this. But yes, this is still a bit scaring.

I'm on the middle with this one, I do think that KYC has some level of security that
does deliver to it's caliber. It's something a lot of us didn't expect to make an impact
especially on airdrops since a little while ago, airdrops were easier to digest and
participate because of the lesser security protocols that adhere with it. On the other
side, I find KYC a bit irritating and hectic in a little manner since it takes more time
and it's quite subjective. I've tried it and it's quite time consuming. Maybe it will take
more time to adjust, since it's a legit protocol after all. If it delivers clean and clear
results then I think we all can adapt with it in time with ease and lesser hassles.

Coffee135

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Quote from: bryant.coleman on April 06, 2018, 08:12:55 AM

If KYC is used for good purposes, then there is nothing to be worried about. More than 90% of the crypto users don't have an issue in paying taxes on their profits from Bitcoins. But there are certain countries where the corrupt officials will use the KYC information to blackmail you or to force you to pay bribes.

I do not believe that 90% of cryptocurrency users have no problems with taxes. Rich people always minimize their taxes. We know the statistics that the main amount of bitcoin coins is concentrated in the hands of a very small number of users. These people have always been attracted to the anonymity. If they leave bitcoin it will cost nothing.

Cryptoswarm

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I think KYC is a good way to get to know your customers.

bryant.coleman

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If KYC is used for good purposes, then there is nothing to be worried about. More than 90% of the crypto users don't have an issue in paying taxes on their profits from Bitcoins. But there are certain countries where the corrupt officials will use the KYC information to blackmail you or to force you to pay bribes.

Nhyira1

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I am really afraid of the KYC procedures in a sense that Blockchain is basically for anonymity of every individual transactions. If all transcations are to have our basic information then i guess the blockchain maybe failing us. It also allows Governments and institutions to tax us which Nakamoto was opposed to in the first place thus the reason for Bitcoin and other cryptocurrencies.

johanesrobin

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Two different sides, I see this as a move for investment.
but the other side of KYC is like denying the freedom of the principle of cryptocurrency.
I further agree it is applied to investors only and not to bounty hunter.

Theb

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What I hate about KYCs being done by the developers of ICOs are "Pay Now, KYC later" method where you can send money for buying their token but after the ICO sale ends they will ask for documents before sending your token to your wallet. This process pisses a lot of people off and that is including me, not only it extends the process but they hide the truth that KYCs are required before they send the token to you. KYCs are fine but in my own opinion they must ask the necessary documents first before you even buying their Tokens in the ICO process, this way only real persons gets to participate in the sale and will also no prolong the process of the sending of tokens.

Edraket31

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Quote from: Fatunad on April 01, 2018, 04:49:10 PM

Quote from: Thirdspace on April 01, 2018, 02:35:11 PM

Quote from: golek upo on March 30, 2018, 02:00:53 PM

Kyc is security procedures and protection for users. And as we know, currently many programs ico that require Kyc verification. I strongly agree with the KYC verification.

protect users from what? KYC (and AML) usually required by law to fight against many form of crimes
but in the case of ICO, we're not even sure they registered and complied with the regulations
'KYC' is used to make it look legal but they could've just used it to gather personal data for their next heist Lips sealed

This is the main problem where we didnt even know if those terms are registered or regulated for them on having the right to keep those informations gathered to its investors.I do see some advantage of KYC for limiting out the tokens being purchased depending on the capability of a certain investor but the informations being sent out doesnt have an assurance if they are being kept in a good hands which those info wont scattered online. Risk should really be minded as a investor its up to your choice.

I am not afraid if the team is legit, I will examine first before doing the KYC, but as much as possible am not gonna do it, that is why we have the advantage because we are anonymous so we are free to do bitcoin privately but if we'll tell our identity they might use it for some illegal reasons.

Fatunad

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Quote from: Thirdspace on April 01, 2018, 02:35:11 PM

Quote from: golek upo on March 30, 2018, 02:00:53 PM

Kyc is security procedures and protection for users. And as we know, currently many programs ico that require Kyc verification. I strongly agree with the KYC verification.

protect users from what? KYC (and AML) usually required by law to fight against many form of crimes
but in the case of ICO, we're not even sure they registered and complied with the regulations
'KYC' is used to make it look legal but they could've just used it to gather personal data for their next heist Lips sealed

This is the main problem where we didnt even know if those terms are registered or regulated for them on having the right to keep those informations gathered to its investors.I do see some advantage of KYC for limiting out the tokens being purchased depending on the capability of a certain investor but the informations being sent out doesnt have an assurance if they are being kept in a good hands which those info wont scattered online. Risk should really be minded as a investor its up to your choice.

ThunderCatSteve

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Quote from: CryptoBry on March 10, 2018, 11:48:47 PM

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

Topic: Are You Afraid of KYC? - page 31. (Read 31675 times)