Have you any new ideas to replace the KYC? - page 7.

kodtycoon

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Quote from: Stargazer on November 15, 2019, 03:21:05 PM

The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?

Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?

for now i don't think there is a substitute for the KYC method, maybe the only way you don't give KYC is not to participate in projects or campaign programs that require a KYC. avoid the program then you will be comfortable living, but if you still have the desire to participate then just do what has become a rule that has been applied, because in the future i'm sure crypto is no longer something anonymous because the growth of this industry has also been increase at least there will be many changes that happen later

fuer44

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Quote from: Stargazer on November 15, 2019, 03:21:05 PM

The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?

Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?

in my opinion there isn't and there really isn't a need for kyc, let everything go like 4 years ago where all the processes went well and not complicated. sometimes for uploading documents, we have experienced difficulties. sometimes waiting for confirmation from the developer also takes a long time and is painful again when rejected. they ask Kyc with the reason to limit double accounts, okay we can accept it. but what's the lead lead? they don't do kyc, so we don't know the true identity of team members and when what happens at the end, nothing can be accounted for.

Aabcde

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I also hate it but for now, I don't think there is a powerful method to replace KYC.
In addition, KYC is actually very useful for financial investigations used by someone in money laundering. But this method is also opposed by those who really are not the perpetrators of the crime, they just want the freedom that is not regulated by the government or an agency. Maybe another way to get rid of KYC temporarily is to move IEO to DEX.

meanwords

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No. A bounty or a project that is base on a country that ask KYC needs to comply for the project continue. They really don't have any choice to be honest but to ask the investors or bounty hunters for KYC. But those who announce KYC after finishing the bounty are absolute scums and a scam. The only thing for those people who doesn't want KYC is to just avoid it. If you don't want exchanges that ask KYC, then find another one or use DEX.

Ccscopst

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Crypto rules may be the second method besides KYC, but this is not possible because crypto is decentralized and the market is not regulated by anyone. Nevertheless KYC is a form of minimizing fraud in the project. For me KYC is not a big problem, it is important that projects / exchanges that require KYC are legal & responsible

EdenDice

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Quote from: marcous on November 15, 2019, 07:44:56 PM

on the one hand, it has become a dilemma given that KYC gave up our identity. if it's a bounty maybe you can avoid it from not following the bounty that requires KYC. because of some Bounty cases, KYC information is explained at the beginning if you want to participate. If there are some exchanges that don't need KYC, for example, only installing 2fa, you can use that method. However, if KYC is required to make a balance withdrawal it is difficult to avoid I guess.

No, most of the time the situation is different, bounty projects announced the KYC requirement after the bounty period ends. So, this is a scam. For example, Mycrojobs announced the KYC procedure after 53 weeks of bounty ends, can you believe? I have no problem with exchange KYC because I have Binance, Kucoin to trade.

No Pain No blood

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no, kyc is actually good. but many people abuse it. Instead of replacing, I prefer KYC to never exist. crypto was created for anonymity, and because of this many like crypto. but kyc only makes blockchain anonymity useless. the more projects that implement kyc the faster the crypto leads to collapse.

Omega Weapon

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Quote from: Stargazer on November 15, 2019, 03:21:05 PM

The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?

Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?

All of those asking for KYC are not doing it because they like it or because they want it they are being forced by governments to do it, so there is nothing that could be done to avoid it unless governments decide to back off and stop their demands but they will never do it, governments changed from their original reason to be which was a way to ensure the security of their citizens to an institution that wants to know everything you are doing all the time.

BlackFor3st

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Quote from: Stargazer on November 15, 2019, 03:21:05 PM

The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?

Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?

This is what most of the bounty hunters and investors are afraid of especially that we are giving our credentials to the team that we don't even know whether they will safeguard our credentials or they are going to make use of it like they are going to sell it for their own purposes.

KYC is killing our freedom so if there are any possibility that can replace the KYC then it will be best so we don't have to expose our own credentials for the sake of few bucks or thousand of bucks for the investors side as right now, I cannot think of something to replace it.

marcous

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on the one hand, it has become a dilemma given that KYC gave up our identity. if it's a bounty maybe you can avoid it from not following the bounty that requires KYC. because of some Bounty cases, KYC information is explained at the beginning if you want to participate. If there are some exchanges that don't need KYC, for example, only installing 2fa, you can use that method. However, if KYC is required to make a balance withdrawal it is difficult to avoid I guess.

Xxmodded

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I don't have ideas how to replace KYC with other system without upload our document data, many IEO investing project needed KYC because they want only give permission for investor allowed in their country become IEO investor participants, many country not giving space for investing with ICO and IEO project, next time many IEO and ICO project need KYC.

ahyadinnn

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I don't like the KYC process, but how else can prize rules be changed suddenly by requiring KYC so that I have to do KYC to get paid. I think it is difficult to replace the KYC process because the KYC process is to avoid extortion and money laundering.

GucciBoy

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This is like the 10th KYC thread I've seen just this month. It seems as people are starting to see the problem with KYC on crypto. It's pointless basically.
Smart money is accumulating projects like Blocknet, Komodo etc, as these projects works on Decentralized Trading solutions (DEX's). Eliminating the need for KYC, accounts, registrations, personal info, you name it!

A real DEX can't be shut down, you can compare it with downloading torrents, which is essentially you downloading off of something else who seeds the file. You can close ThePirateBay, but it doesn't remove the torrent itself. Wink

There's a reason Binance felt the need to make their own, since DEX's could easily become the industry standard.

DarkDays

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Nobody in the cryptocurrency industry actually wants KYC. This is just a regulation that is forced onto the industry by regulators and governments.

Obviously most projects know that they are limiting their options by forcing everyone to complete KYC—it is better for business to have no requirements on who can invest.

There is no alternative unless we want to use some sort of escrow system where brokers pool funds to purchase tokens from ICO/IEOs.

This is similar to what Rocketfuel does, but they don't seem to be hugely effective.

huu78

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KYC prioritizes security to prevent people from doing twice or using excessive accounts. KYC has been a procedure to expel the cheater or scammer who wants to ruin the ecosystem of a project.
Somehow many do not like it because there is no freedom from crypto itself that says it is anonymous. It is true that it is very inappropriate if arguably anonymous crypto and they use KYC identity.
But in order to prevent various problems, one of them is KYC although not all platforms want it. And some trading platforms such as DEX solutions for people who want their identities remain anonymous.

JeffBrad12

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That's the downside of getting involved to IEO the project itself requires KYC because they need to otherwise they will be taken down by the government and could potentially be accused of money laundering or some sort.
KYC sucks I know considering that our data could fall into the hand of someone who's irresponsible or criminals that's also why I never submit KYC anywhere else but some exchange that are already reliable and the owner is already known by the public. There's definitely no other way to replace KYC as of now.

tabas

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Don't use centralized exchanges instead use those decentralized exchanges. But this problem starts through those because the volume from those kind of exchanges isn't that much.
That's the very solution that I can think so far but who knows in the future, there will be centralized exchanges that won't ask for it.

enhu

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You can actually ask the bounty hunter to fill up KYC spreadsheet form if you want. That is if he would fill it Cheesy

One thing you can only do is avoid those bounty campaigns asking KYC and if you don't want doing it on exchanges then just stick to KYC. I try not to register to some other exchanges since I don't wanna do it over and over to the exchange where I register.

tenakha

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I can not say what can be used instead of KYC. Things were a little different when crypto was not heard by many people in the past. Recently joining more people to this sphere require the removal of illegal business and therefore exchanges, IEO offerers need KYC to counter it. You may be able to protect decentralization within this sphere, but at the end you should still apply for central exchanges. BTC and the like are decentralized in their place, but when it comes out it returns to routine centrality.

Stargazer

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The crypto market is decentralized, we live here as anonymous and free and we love it! But this KYC process is killing the anonymity of crypto! To invest in a good IEO you need to verify KYC, to do a good bounty project, you will have to go through KYC! But why? You guys are doing nothing with our KYC, then why you keep asking our identity? A selfie by holding my ID card, wtf! Did we ever ask you to verify your KYC when you launch a project/bounty? Why you are not coming with another option where a freedom crypto member doesn't need to show his face?

Ok, guys, now my question to you, Have you any idea what can be good to replace the KYC method?

Topic: Have you any new ideas to replace the KYC? - page 7. (Read 804 times)