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Topic: Are You Afraid of KYC? - page 37. (Read 31674 times)

legendary
Activity: 1232
Merit: 1091
March 11, 2018, 07:15:57 PM
#17
My biggest mistak was to fully verify myself at Bitstamp, where my mistake isn't specifically targeted at Bitstamp, but just the general fact that people I don't know have access to very precious personal information. I sent Bitstamp an email a while ago, asking whether or not it was possible to have all my details be erased from their system, including my account, but the answer was that they were legally not allowed to do so. In other words, my personal information is stored on their servers for ever, and I am now forced to pay tax because there is no way to move around it. I promised myself to never ever make the same mistake again, and I will stick to that.
KWH
legendary
Activity: 1904
Merit: 1045
In Collateral I Trust.
March 11, 2018, 06:58:30 PM
#16
I'll get right on that, just as soon as hell freezes over.
legendary
Activity: 3724
Merit: 3063
Leave no FUD unchallenged
March 11, 2018, 06:57:01 PM
#15
The problem is that questionable characters won't just be trying to hack exchanges to steal the various coins anymore.  They'll also be trying to hack in to steal potentially valuable personal details which could be used to commit identity theft.  If anything, it just paints an even bigger target on some already fairly large targets.

And as Rustamm stated, those of you freely handing your personal information over to ICOs scammers are just asking for trouble.  Since when has it ever been a good idea to send copies of your legal documents to strangers on the internet?  Some of you clearly need to watch the first Futurama movie again:

Image loading... Personal Information
jr. member
Activity: 148
Merit: 3
March 11, 2018, 06:42:41 PM
#14
No, I think it's a good idea to trust the company I want. If I'm not sure, I don't do it. It gives both sides more security and keeps potential scammers away.
We're not 100% anonymous on the internet anyway, so I don't have a problem with doing a kyc when investing. I wouldn't like to do it for small bounty campaigns or airdrops, though.
legendary
Activity: 2366
Merit: 1206
🔰Buy/Sell Cryptocurrencies🔰
March 11, 2018, 12:08:15 PM
#13
When you decide to involve into crypto trading, you are ready the risk of it.
So when you decide to involve into project ,are you willing to take the risk by giving your KYC ?

For me, If I trust the project, I won't doubt to give it !
I fully agreed with you sir, I know each one of us here was having a different perception of filling KYC in the bounty campaign project. His right if you trust that project that you are promoting then why you are afraid of KYC. Joining in social media's campaign they know already you the how much more just simply giving a little information to them, unless if you are the Hollywood actor here you might hide your real identity. Then for me, that is not a big deal to reveal my real identity.
member
Activity: 356
Merit: 14
https://exiptoken.io/
March 11, 2018, 11:26:00 AM
#12
There are various modes perpetrated by the perpetrators to conceal or disguise the origin of the property, one of which is to incorporate the proceeds of the criminal act into the financial system, especially into the banking system. Thus the origin of such property can not be traced by law enforcement. This mode is called money laundering (Money Laundering).
legendary
Activity: 1862
Merit: 1015
March 11, 2018, 10:56:04 AM
#11
When you decide to involve into crypto trading, you are ready the risk of it.
So when you decide to involve into project ,are you willing to take the risk by giving your KYC ?

For me, If I trust the project, I won't doubt to give it !
full member
Activity: 798
Merit: 178
March 11, 2018, 09:56:10 AM
#10
I'm not afraid of that as long as I know I'm getting involved in something trustworthy, which by no mean would use my personal information negatively. Though I also wish it doesn't get implemented on everything like exchanges and all. Right now we feel like we are free to do our financial works with cryptocurrencies without anyone knowing about it, but once every single service starts to implement KYC requirements, it will just be like using a bank where everyone working in there knows about my activities. But that doesn't bother me as long as my activities are not shady, so it is not a big problem for me, but still, I like it more right now, without KYC.
sr. member
Activity: 406
Merit: 256
March 11, 2018, 09:44:36 AM
#9
I am afraid of the widespread introduction of the KYC verification system. Cryptocurrencies are losing their independence. Some exchanges now require such a procedure even for cryptocurrency trading. It's wrong. Initially, such a requirement was necessary only for the possibility of withdrawal of Fiat. Now this becomes the norm for all operations. Then there will be requirements of blocking and seizure of accounts. Cryptocurrencies will turn into Fiat.
full member
Activity: 2086
Merit: 193
March 11, 2018, 09:07:51 AM
#8
A decentralized or Anonymous things are slowly changing, this KYC makes this market a more centralized. We will surely afraid on this thing because in the first place we are here to remain anonymous, and then suddenly KYC takes in to change the tradition. Hopefully this thing will be use on its real purpose.
newbie
Activity: 60
Merit: 0
March 11, 2018, 09:04:58 AM
#7
people who staying in countries where its illegal those people will be afraid about it.
sr. member
Activity: 2002
Merit: 314
Chainjoes.com
March 11, 2018, 08:37:04 AM
#6
I’m also afraid on KYC because it can really be use into dirty things, but I can’t do anything about it because I need to fill it up as one of a requirements in big exchanges. Just be careful on giving your information on any ICO because the risk is high there.
member
Activity: 532
Merit: 18
Bitcoin lover!
March 11, 2018, 04:21:18 AM
#5
n way we not afraid for the required KYCs i think its good for our security
I do not understand how it can be good for security that you transfer your personal data and copies of your documents directly into the hands of scammers? According to statistics from 902 ICO projects, a third turned out to be scammers. Even if a company that conducts an ICO and is registered in a country where it is required to conduct a KYC audit, this does not mean that such a company will not later be fraudulent.
full member
Activity: 224
Merit: 100
March 11, 2018, 04:20:58 AM
#4
   I am afraid of KYC. I dont even publish my name anywhere, I dont use any social network because dont want someone to gather my privat information. Any database may be stolen or sold to criminals. I will reject any ICO program or bounty campaign which requires KYC procedure. I live in new world with new opportunities which bitcoin gave us
hero member
Activity: 1806
Merit: 671
March 11, 2018, 03:07:54 AM
#3
KYCs are not the problem here. The problem I see is where you are entrusting your information to.  Because their are certain ICOs that will only fish out your information as it has more value for them rather than the token they are creating. KYCs are a requirement of some countries' government as it is their way of regulating or being in touch with their citizens. What I would normally do before trusting my personal information to other entities such as ICOs or even exchanges I will research on them if they have a good background.
jr. member
Activity: 185
Merit: 2
March 11, 2018, 12:44:09 AM
#2
It feels like another problem such as merit system. KYC is another trial and big problem also in the users just like you and me. I agree for KYC to prevent scammers and multi account also. But as I recall many users are didn't pass KYC in their campaign and they didn't get their tokens so this is another disadvantage of users for requiring KYC. And many campaigns also are slow for auditing the KYC as you can see many users probably students because they didn't have government ID just like KYC requirements. But in the end this KYC process is a problem. This is a concern who are bounty hunters.
sr. member
Activity: 1008
Merit: 355
March 10, 2018, 11:48:47 PM
#1


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?
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