Topic: Cryptocurrency, KYC and Terrorism - page 12. (Read 2716 times)
As a bounty hunter, I see to it that when I join signature campaigns, this should not involve any KYC. there is a big threat to the data where it goes and how it is kept. There are people who, by trying to avoid giving way their data, they would resort to submitting fake identities. I mean, can this serve as an alternative for a win-win set up?
I understand that KYC can prevent people from abusing fraud or embezzlement of money, but on the other hand KYC can also be misused by its requesters, so that bounty participants or investors feel afraid to provide KYC documents, which are actually personal
But we cannot choose not to comply with the KYC if we are interested in using or investing on the platform.With proper regulation, the government will take care of these company who requires KYC, and they are also required by the government to obliged people to comply with the KYC, that way we feel a little safer as we have the government who are in the regulators that could sanction the company we are trusting in case they break some law.
I understand that KYC can prevent people from abusing fraud or embezzlement of money, but on the other hand KYC can also be misused by its requesters, so that bounty participants or investors feel afraid to provide KYC documents, which are actually personal
It is one of the reasons why many investors and bounty participants are objecting the use of the KYC because tgey did not trust the system where the kyc is given. Anybody can gain full access to any personal informations given by people to that particular organization. I think it is time to take a look on how the kyc is provided and who are responsible for it.
Investors are okay to kyc especially if they fully trust the company that they are investing with but in the case of bounty hunters , bounty hunters are always protesting about kyc because they think that kyc is not apropriate for bounties the same as on airdrops . kyc is more propriate on ico , ieo , exchanges , gambling or anything that has a money involved . 
KYC verification has become a big problem for investors in ICO projects, but it has become an even bigger problem for participants in the ICO bounty campaigns. Most KYC checks are carried out after the end of the ICO, when bounty hunters are no longer able to refuse to participate. After all, they have done the agreed work and are just waiting for the deserved payment by tokens. Here, KYC verification already serves as a form of fraud in order not to pay the tokens earned by us.
As for the possibility of using our data by terrorists, this, of course, is not excluded. However, I do not think that the probability is high. There are not so many terrorists using cryptocurrency in the world, in any case, not anonymous types of it.
As for the possibility of using our data by terrorists, this, of course, is not excluded. However, I do not think that the probability is high. There are not so many terrorists using cryptocurrency in the world, in any case, not anonymous types of it.
the issue of using or funds raising from cryptocurrency for terrorist activities has been many articles or opinions that were put forward. but it is true. in my opinion this issue is not necessarily true, it could only be used as an excuse to discriminate cryptocurrencies. or issues that are used for something specific needs, which have nothing to do with KYC. whatever the reason, I hope the OP provides clear evidence so as not to expose sensitive issues.
I believe that at the exact moment you are born and registered at the registry office of your municipality you are registered and marked; at any other time in your life when you request a document from your offices (identity card, driving license, passport, etc.) your cataloging is updated and expanded, supplementing it with fingerprints and other information; when you send photos, information, tastes, political, religious, sexual and other preferences, in all the social networks and forums of today, your profile and your personal profile is even more enhanced.
All this information, data, tastes, preferences, are not easily available for 99.99% of ordinary people; all this will have access to those few people who have an interest in doing so: these can be public, national or international forces, or hackers / criminals / terrorists / scammers.
There is no way to avoid this except to disappear and be invisible to the SYSTEM; it is not enough to be absent or to have a low profile or not to participate in that ICO because you have doubts, while in this other you participate because the company is serious.
EVERYTHING OR NOTHING! THERE IS NO MIDDLE ROAD!
IN OR OUT!
IF YOU ARE INSIDE YOU ARE ATTACKABLE!
All this information, data, tastes, preferences, are not easily available for 99.99% of ordinary people; all this will have access to those few people who have an interest in doing so: these can be public, national or international forces, or hackers / criminals / terrorists / scammers.
There is no way to avoid this except to disappear and be invisible to the SYSTEM; it is not enough to be absent or to have a low profile or not to participate in that ICO because you have doubts, while in this other you participate because the company is serious.
EVERYTHING OR NOTHING! THERE IS NO MIDDLE ROAD!
IN OR OUT!
IF YOU ARE INSIDE YOU ARE ATTACKABLE!
It is one of the reasons why many investors and bounty participants are objecting the use of the KYC because tgey did not trust the system where the kyc is given. Anybody can gain full access to any personal informations given by people to that particular organization. I think it is time to take a look on how the kyc is provided and who are responsible for it.
so many people sent their documents lightly, and someone took advantage of it.
My advice is first of all to trust only companies that meet the minimum security requirements, secondly if you suspect that you have sent documents to the wrong people, the first thing to do is immediately request a new document so as to avoid a fraudulent use (and subsequent problems)
My advice is first of all to trust only companies that meet the minimum security requirements, secondly if you suspect that you have sent documents to the wrong people, the first thing to do is immediately request a new document so as to avoid a fraudulent use (and subsequent problems)
That's true, some people are too trusting in providing their information or documents even without really knowing if the company where they sent the documents is legit. It is really important to know the company and check reviews if necessary to make sure the security of your documents and identity.
The implementation of KYC is only to reduce their fake profiles because everyone is doing some scams also after the KYC the transaction will be more safer than before that's why the implementation is always accepted by me but I don't think that terrorism will not been involving only with the help of this problem
I think that is not because of scams.
KYC means Know your Customer, that means that the Customers are the one sending their information and not the people implementing the project or the site. I see KYC as a way to stop people from taking advantage of the referrals that is happening in the past. If people can just create a lot of accounts and refer to their main account, that would be so easy to earn money, isn't it?
The problem is much bigger than fake accounts abusing the bounty system - it is that terrorists or criminals will use these documents to carry out their acts. People can end up destroyed from this. The cheating of bounty systems is not the issue here.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
My thought is there needs to be more pushback from the community about KYC abuse. People should stop handing sensitive documents to unknown or questionable parties. Those who legitimize this practice are promoting the abuses that will stain this industry.
Yes, KYC is perfectly fine among licensed exchanges. It is, however, wrong to engage in by fly-by-night projects.
The implementation of KYC is only to reduce their fake profiles because everyone is doing some scams also after the KYC the transaction will be more safer than before that's why the implementation is always accepted by me but I don't think that terrorism will not been involving only with the help of this problem
I think that is not because of scams.
KYC means Know your Customer, that means that the Customers are the one sending their information and not the people implementing the project or the site. I see KYC as a way to stop people from taking advantage of the referrals that is happening in the past. If people can just create a lot of accounts and refer to their main account, that would be so easy to earn money, isn't it?
That is basically why governments want to legalize all cryptocurrencies transactions in such a way to prevent these sort of situational events.
Beating terrorism, money laundering and so on are a lockout for having such politician actions in th equation.
In some occasions KYC helps verify if the money has come from legitm sources as well.
Beating terrorism, money laundering and so on are a lockout for having such politician actions in th equation.
In some occasions KYC helps verify if the money has come from legitm sources as well.
I am not sure about this issue, so far there is no evidence of crypto being used to fund terrorism. although the opportunity for that is very large at least the OP provides evidence.
and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
This is indeed difficult to prove but now the OP is talking about KYC being used for terrorists. actually in this case it is not new when bitcoin is associated with terrorists or other crimes. but it can't be proven.and KYC I agree to be more careful to provide your personal data, make sure your website is safe and responsible.
I register several exchanges with my data and I feel safe because they provide security guarantees.
KYC=Easy profit for scammers.
KYC is not safe look at all the exchanges that have been hacked.
KYC is only safe within a government institution like a bank or license department or bank or loans and bigger business deals. I know my info is safe with the goverment but not with some random project online.
We have been told not to give our personal info to anyone if we choose to be involved in crypto.
This is why my government tells us not to give KYC.
I legally don't need to give KYC.
KYC is not safe look at all the exchanges that have been hacked.
KYC is only safe within a government institution like a bank or license department or bank or loans and bigger business deals. I know my info is safe with the goverment but not with some random project online.
We have been told not to give our personal info to anyone if we choose to be involved in crypto.
Ech time we fill some KYC forms, we are actually taking upon ourselves certain degree of risk. It is not impossible that some ICO projects have the sinister ploy to fraudulently obtain sensitive information, there prevalence of security breeches in the space may not be unrelated to this
This is why my government tells us not to give KYC.
I legally don't need to give KYC.
I don't believe that all projects or exchanges requiring kyc has bad motive to its clients. If you are not giving your kyc to any of those institutions, how are you spending your crypto into your fiat currency? At some point you need to convert it to fiat so you can use it for your personal expenses. And these local crypto exchanges, require to submit some sort of kyc from their clients.
KYC=Easy profit for scammers.
KYC is not safe look at all the exchanges that have been hacked.
KYC is only safe within a government institution like a bank or license department or bank or loans and bigger business deals. I know my info is safe with the goverment but not with some random project online.
We have been told not to give our personal info to anyone if we choose to be involved in crypto.
This is why my government tells us not to give KYC.
I legally don't need to give KYC.
KYC is not safe look at all the exchanges that have been hacked.
KYC is only safe within a government institution like a bank or license department or bank or loans and bigger business deals. I know my info is safe with the goverment but not with some random project online.
We have been told not to give our personal info to anyone if we choose to be involved in crypto.
Ech time we fill some KYC forms, we are actually taking upon ourselves certain degree of risk. It is not impossible that some ICO projects have the sinister ploy to fraudulently obtain sensitive information, there prevalence of security breeches in the space may not be unrelated to this
This is why my government tells us not to give KYC.
I legally don't need to give KYC.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
Hence the need for regulation, I am a crypto lover and I believe in the solution that cryptocurrency has brought, but this is one of the disadvantage of the system, and we need regulation for this negative side of it to be neutralized. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
This has been one main reason why people are always careful with their information and I really don’t know why some companies are really imposing it if they don’t really have hidden agenda, I think it is high time that any company that is requesting for KYC should be ready to also give same thing in return so that we can keep record of everyone that has access to our vital information when any issue arises.
Some have speculated that terrorists have discovered a way to use the platform crypto currency to gather identities from different people from all over the world. use their identities for terrorist activities. From threads that i have seen, there are people thinking that some ICOs are used to fund terrorist acts by luring investors into investing into their companies, getting KYC in exchange of money, gather a large sum of it and then run away with big bags of bucks.
IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
I think that is one of the biggest problems that crypto is facing, when talking here about anonymity its a double edged sword, on when hand it gives us the possibility to hide our identity to keep us safe, but it also provides a shade for terrorist to exploit and for illegal activities, and when it comes to ICOs i definitely think that they are at a place where they are being used for the wrong reasons and especially where the market has been flooded with so many useless coins that are only just cash grabs. IMO, these scenarios have big possibilities since there is the anonymity factor feature of crypto currency, we really do not have the knowledge as to whom and where the money will go for when it was transacted in cyberspace.
what are your thoughts on this?
The implementation of KYC is only to reduce their fake profiles because everyone is doing some scams also after the KYC the transaction will be more safer than before that's why the implementation is always accepted by me but I don't think that terrorism will not been involving only with the help of this problem
I'm not sure about you says ICO's used to fund terrorist acts and i was first time to heard about this here which is these thoughts not necessarily true but indeed there always be possibility for it because cryptocurrencies offering the advantages which is not owned by other currencies and about KYC that's why most people suggested not too easy submit our data to particular sites to avoid things we don't want
Terrorists are financed by very large organizations, they do not need to conduct ICO in order to hide the flow of their funds, it is enough for them to use anonymous cryptocurrency for transfers, even KYC will not save it
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