Topic: Bitcoin and crypto currencies are getting dangerous - page 4. (Read 863 times)

It depends on what exchange it is, decentralized or centralized exchanges. if it is a centralized exchange surely you need to KYC in order to make certain limits of the transaction. However, if you register on the decentralized, it does not need any KYC approval. Of course, you must also consider what to choose whether the centralized and also decentralized.
In this case, it is not in the Bitcoin but in the platform itself. We may ignore the T&C if we do not register on that kind of site. So, please analyze first about the exchange to make and cash out your Bitcoin into cash.

There are still many exchanges that don't need KYC. I'll never use a KYC exchange. Let the exchange send me their KYC then I will send back mine. There many people who think like us and still want DEX exchanges. IT is not like the demand has gone away.



What a load of crap. Why are you even here? GO use fiat. I don't feel I need to tell someone who I am to use their service. What laws are you talking about? You have no idea what you are saying. Btw you don't need documents to use skrill or payeer so it just shows how little you know. Crypto doesn't abide by any rules since its not fiat. Again I asl why are you even here???

"The people,who are whining that they can't use mixers and complaining about KYC have something to hide from the authorities." more like the authorities have something to hide from us. Dude go to sleep. The fact you in a paying signature campaign disgusts me.

You are a joke. You talk about "hiding something" what about these places that ask for KYC why wont they give us their KYC huh??



Those two are total idiots. Saying you don care about your privacy because you have nothing to hide is like saying you dont care about freedom of speach because you have nothing to say. Why in the hell would I pay tax incrypto? Its not fiat. There is no law about it. It is not owned by the goverment.

I do not agree with your thinking because not all exchange platforms need KYC. There are many and reputable exchanges that you can choose and manage your bitcoin freely and anonymously.

According to my experience, the exchanges that have asked for KYC is because I need to make an exchange to Fiat like the local P2P exchanges. I think you need to give details of the exchanges in which you have felt invaded.

This just means that we need to go back to the roots of bitcoin if you want to retain your privacy, you can either have privacy for convenience you cannot have both, centralized exchanges offer convenience and you get access to a market in which billions of dollars are moving every day but if you want to access it then you need to accept that know your customer policies are going to be there.

If you want to retain your privacy then you need to use peer to peer trades and you need to be willing to sacrifice time and effort to make those trades but you will get your privacy back and that is invaluable.

Not all of us though are using those exchanges or maybe these services that offer KYC. These platforms may accept bitcoin but I don't think you should say that it is the entirety of bitcoin and crypto currencies. People might be forced to do KYCs since they might use them for certain purposes or maybe they have no choice since it might be the only way to use it in their country. In terms of other transactions, you can still use bitcoin anonymously.

It's not about "got nothing to hide" type thing, it's about being exposed, and never know who that KYC data might get in hands of who.

First, not every exchange is always enforcing KYC. A friend of mine has been doing some trading on Binance, and he wasn't asked for KYC yet. Moreover, local exchanges where I exchange BTC for fiat regularly have never asked for my ID. I mean, I'm sort of exposed to them because they transfer money to my bank account and thus know my name, but at least I don't have to deal with this uncomfortable 'send a photo of you holding your passport' thing. Furthermore, I agree with pooya87 that exchanges are one thing while Bitcoin is another. Nobody's forcing you to give away your identity to make Bitcoin transactions. And finally, I'm not so sure about mixers being ineffective. Of course, with the right amount of resources on behalf of the stalkers and stupidity on behalf of the users it's possible to trace BTC and link an address with an identity, but that's not the fault of Bitcoin or of mixers.
P.S. If one wants to minimize the risk of being identified, one should use a coin that gives anonymity (like Monero), not pseudonymity.

a few days ago I was trading on BitMart, the reason was because the altcoin / token I wanted to sell was on that site. after registering then I made a deposit without seeing the withdrawal limit, it turns out that to make a withdrawal a document is required for KCY, otherwise my altcoin / token will be buried there. Like it or not I have to do KYC to withdraw my funds there, but I feel fine (because I'm not a problem person). It seems like nowadays many trading sites require KYC in order for us to trade there (perhaps for regulatory reasons), so the decision is yours. If you prefer privacy, never choose a trading site that requires KYC.

Exactly! If anyone has nothing to hide in authority ,should not be afraid of taking kyc and abiding the rules implemented by some exchanges in digital world which is the same rules as fiat financial services. If the Government will impose taxes one day ,then we have nothing to do but to follow.

Oh, I really hope I have huge amount of merits for this one.
After reading the OP all I can think about is to say "stay away from it if you don't like it".
Well, pooya87 already got it covered.

The control of privacy is still on you. You decide, your choice. Why go for an exchange? I bet you have a different purpose.

If you are ready to start your journey in crypto currencies then you should be ready also to adapt their latest actions especially in asking us our KYC so we can use their platform and etc.

There are very few exchanges right now that didn't ask for KYC but I saw also that their services are not topnotch compare to the platforms that are asking for KYC. If you see that submitting your
KYC will endanger your life then you should not force yourself in doing it because no one can force us to submit our KYC if we are against to it.

Sure you're talking about CEX or centralized exchange. These exchange needs to comply with KYC and it's compulsory. So, you shouldn't be surprised If they are requiring KYC verifications.
If your primary concern is your privacy, then you can always opt to use decentralized exchange or do a peer to peer transaction when you're buying or selling Btc.
The KYC from CEX isn't a threat to your privacy and freedom, because there are still a lot of option to stay anonymous while transacting.

The cryptocurrency exchanges requesting to fullfill KYC isn't a big issue. Without cryptocurrency exchanges the market might have not got such an increased volume. For users who prefer the decentralized accessibility can make use of the decentralized exchanges. With centralized exchanges it is possible to get support when some form of error or issue happens.

So what will you do??

You are just complaining and sharing your opinions to us but you don't have any solutions to share. What will you do?? Trade on DEX yes that is what they are saying but DEX doesn't have that much liquidity compare to the centralized exchanges right now so it is still useless.

Exchanges aren't forcing you to share your information if you don't like. If you don't like sharing your information to other people then don't use their exchange. Don't use their services. Who gives a damn if you don't want to give your information to them. Freedom?? Find a place where you can buy BTC without sharing your information to them.

Yes there are some ways to buy BTC and staying anonymous at the same time but it will be harder for you to buy and sell on it. Accept it or better leave.

Then don't use website that enforces KYC. I think there's a few website who still doesn't require KYC.
I think the bad only thing in KYC is leaking your information when they website got hack. I saw some news that KYC information leak from a website. And that's alarming because it's too bad if your information use in a bad way.

If you're concerned is all about privacy just simple as that, use DEX, and avoid CEX which is required KYC/AML in each costumer.

Don't blame the cryptocurrency itself because there are too many alternative ways to hide your privacy if you're protecting it. Besides, it will not directly be linked to your personal identity, so there's nothing to worry about if this cryptocurrency will be traceable especially Bitcoin.

Time to time this will be the fact, the crypto market exchanges will be regulated by the government but not directly to the cryptocurrencies. Which impossible to regulate due to the it's decentralized kind.

Its the trade-off for the adoption we have been trying to achieved now that cryptocurrency is legalized. Its not like what is was when you can withdraw a hundred BTC without having to leave your data to them except an email use to sign up.

If you find it dangerous there are still exchanges and dex to go to but it may not really be what you expect compare to the CEX like Binance. The one that is very popular right now is uniswap.

I think it's clear by now that there's no change in bitcoin. Either you use cex or not.

On another note, you can't expect centralized services to be free from KYC. They're running a business in a country, holding millions of money each day. Any government won't let them do as they please to prevent something bad from happening, such as exit scam or the owner went missing with all of their funds. Btw, some exchanges like Bithumb Global or Binance still allows non-KYC user to use their services, mainly for crypto to crypto transactions. But don't be surprised if they play the KYC card again.

The DEX volumes have increased a lot in the past 2-3 months, showing ATHs from week to week. However, if you want to go with even less complicated, you can always use a swap engine. If you want to check one out, here is how it works in our solution. https://double-edge.net/wp-content/uploads/2020/04/How-to-trade-on-Double-Edge.pdf     - I hope nobody gets offended of me posting something from my own side, but if yes, please delete this post

So you are saying that bitcoin is getting dangerous because centralized exchanges are now asking for users to go through KYC or you think it is dangerous since exchanges are now considering it dangerous for which they now ask for KYCs? In both case you are wrong. Exchanges are asking for KYC because they are being forced to. The exchanges are centralized. If you use a centralized platform, then you will have to follow the rules. You will have to provide identification since they are regulated by the government.
You still have your freedom as long as you avoid using those central exchanges.