Is the society matured enough to handle privacy?

Smartvirus

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Quote from: dezoel on April 22, 2022, 05:16:20 PM

It's quite understandable if you would like to share it with your local exchanges because that's where we turn our fiat in our bank account to crypto in the exchange or vice versa. That is required and I understand it. But, places like binance where you have zero connections to fiat still requires it because they want to be more legit.

There are so many nations that ask for it these days that they can't just let it be and ignore all of that. If they did that, and didn't ask for KYC from you, then all those nations would make Binance an illegal place and wouldn't let their citizens to use it, Binance needs as many customers at they could get to make a profit.

Is that entirely true?
That binance have got no fiat options and so, its unnecessary to go through all the KYC and for Binance, it's more about being or staying legit..

Yeah, KYC is very undesirable and should be very much avoided by those who care about there privacy and see KYC for the menace it is. I seriously don't approve going through all that but, Binance have got fiat options though the P2P system. You get paid in your local currency or provided bank account details capable of holding base country currency. That's very much fiat.

Staying legit and not having customers is some shit move. Sadly, binance already do, there reputation wins them customers and the customers are so attached.

Hamphser

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Quote from: peter0425 on April 20, 2022, 05:40:05 AM

Quote from: bluebit25 on April 08, 2022, 09:21:12 PM

We can completely choose what we want. Good and bad things always go together. And of course, disseminating knowledge to shape usage behavior is always important to see how that field will be used. Personally, I'm middle-aged, so I'm not too harsh on money laundering through privacy issues, but like the OP mentioned, information security reasons are what we need.

But KYC information needs to be implemented and that made our privacy vulnerable so we are mature? I am of course because this is important to me that's why I only give my KYC to those who badly needed to provide.
like what i gave in my Local wallet to have transactions here and there, but in other platform? i prevent from giving this and that is my main objective .

There are indeed times which we do really need to expose off our identity or personal information for the sake or benefit of being comfortable on various transactions which cant really be avoided on some point.

Its true that we do avoid KYC as much as we could but speaking with reality on traditional platforms and services that we do have physically then it couldnt be avoided for you not to comply with those things.

There are various options that we do have actually and its up to you whether you would really be complying or not basing on your preference.

dezoel

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Quote from: peter0425 on April 20, 2022, 05:40:05 AM

Quote from: bluebit25 on April 08, 2022, 09:21:12 PM

We can completely choose what we want. Good and bad things always go together. And of course, disseminating knowledge to shape usage behavior is always important to see how that field will be used. Personally, I'm middle-aged, so I'm not too harsh on money laundering through privacy issues, but like the OP mentioned, information security reasons are what we need.

But KYC information needs to be implemented and that made our privacy vulnerable so we are mature? I am of course because this is important to me that's why I only give my KYC to those who badly needed to provide.
like what i gave in my Local wallet to have transactions here and there, but in other platform? i prevent from giving this and that is my main objective .

It's quite understandable if you would like to share it with your local exchanges because that's where we turn our fiat in our bank account to crypto in the exchange or vice versa. That is required and I understand it. But, places like binance where you have zero connections to fiat still requires it because they want to be more legit.

There are so many nations that ask for it these days that they can't just let it be and ignore all of that. If they did that, and didn't ask for KYC from you, then all those nations would make Binance an illegal place and wouldn't let their citizens to use it, Binance needs as many customers at they could get to make a profit.

CharlesBD

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Public Ledgers
Blockchains are basically a form of public ledgers. To make it simple, ever since the cryptocurrency was established, all the transactions that were made are recorded on this public ledger. However, the identities of the owners of coins are safeguarded as the system ensures the privacy of owners with various cryptographic techniques.

Public ledger also takes care of the respective digital wallets calculating the expendable balance accurately. One can easily check and keep track of all the new transactions that take place ensuring that coins used for the transactions are currently owned by the sender.

peter0425

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Quote from: bluebit25 on April 08, 2022, 09:21:12 PM

We can completely choose what we want. Good and bad things always go together. And of course, disseminating knowledge to shape usage behavior is always important to see how that field will be used. Personally, I'm middle-aged, so I'm not too harsh on money laundering through privacy issues, but like the OP mentioned, information security reasons are what we need.

But KYC information needs to be implemented and that made our privacy vulnerable so we are mature? I am of course because this is important to me that's why I only give my KYC to those who badly needed to provide.
like what i gave in my Local wallet to have transactions here and there, but in other platform? i prevent from giving this and that is my main objective .

wilkine

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Whether or not a society is matured enough to handle privacy depends on its development stage, just like different countries have different acceptance level towards Bitcoin.
Fiat won't disappear anytime soon, but the popularity of crypto is growing, that's for sure, and government will find more ways to monitor crypto transactions.

yhiaali3

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There is no doubt that privacy is necessary and required, but some people abuse privacy to carry out illegal activities on the Internet, but in my opinion, this should not push us to give up privacy because of these bad people who abuse the whole community by carrying out these illegal activities, as you said, the community Not yet mature to deal transparently with privacy and decentralization, but this should prompt us to think of new ways to take advantage of these new technologies while preserving the good and important advantages that we have obtained.

Quidat

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Quote from: ChiBitCTy on April 19, 2022, 07:12:37 AM

When it comes to privacy you can use bitcoin to an extent but it’s really better suited for true privacy coins such as Monero (and to a lesser extent Zcash). I have always maintained the position that it would be horrible for bitcoin to become a true privacy coin, not because I’m worried about what people will do with the private coins, but because of how governments will view it. They will assuredly ban it. Of course you can’t fully ban it but they can shut down the on and off ramps to a large extent (exchanges) and of course that would be very damaging.

It would surely hurt but not enough on blocking nor getting rid of it completely since we know that it couldnt be technically possible thats why they do really intend out on touching up platforms which is
attached or related to it thats why it wont really be that possible that everything would really get blocked but there are actually coins which are really that private or completely anonymous.
It cant really be avoided that there are indeed people who do make use of this feature for neither good or bad intentions.

ChiBitCTy

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When it comes to privacy you can use bitcoin to an extent but it’s really better suited for true privacy coins such as Monero (and to a lesser extent Zcash). I have always maintained the position that it would be horrible for bitcoin to become a true privacy coin, not because I’m worried about what people will do with the private coins, but because of how governments will view it. They will assuredly ban it. Of course you can’t fully ban it but they can shut down the on and off ramps to a large extent (exchanges) and of course that would be very damaging.

rodskee

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Quote from: Ziskinberg on April 18, 2022, 07:10:34 AM

Quote from: yazher on April 18, 2022, 05:39:38 AM

You see when you read all the occurrences when someone got hacked by doing the things they shouldn't really need, you will gonna learn to further secure your crypto assets but it all goes back to patiently reading the stories of those unfortunate people.

Most of the time we just learn and see the importance of our privacy after experiencing bad as this never be on our minds at the start.

Exactly , this is based on my own experience mate , I care nothing in the past about my funds until I lose one of my wallets because of my not caring on that.

Now i learn my lessons and knows how to handle security measures .

Quote

Well, the truth is that people really don't mind their privacy. And to hear people getting hacked, this was not surprising anymore, it was indeed a market view that we can't hide. For we don't change and we are still careless, and never mind the value of our privacy, we neither change as well. Hacking and scamming is still certain.

Lol everyone in crypto cares about their privacy its just that many don't really understand how it works and how this really meant to have.

Dunamisx

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Quote from: TheNineClub on April 17, 2022, 04:36:09 PM

I don't really think we have matured enough to handle innovation, at least at the pace modern technology is moving. It seems human evolution has not been able to catch up with our technological innovations, so we see some discrepancies.

Humans are trying in coping with the advancement in technological development since we don't have the whole world all developed while some region were still underdeveloped, but the means of handling privacy has been made efficient in such a way that the bitcoin decentralization places each as a determining factor to the handling of their privacy, in bitcoin, we have improvement proposals suitable for privacy which one can't do without while some will not mind with the consideration of their privacy.

Quote from: TheNineClub on April 17, 2022, 04:36:09 PM

So privacy will be abused wherever it can be abused, at least for the time being.

It is obvious that many abuse this privilege but nevertheless we have to consider that everybody is not an abuser of privacy, this is what we could not benefit from the rule of governments and we were served with the opportunity in bitcoin/crypto in dealing with our financial lives.

Wexnident

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Nothing new with Crypto being used for illegal means. ANYTHING can be used for illegal means, not just crypto. And I'm pretty sure no one's really able to answer you about society wanting it or not, the sample's just too big, and honestly, why does it even matter? It's not like there's a rule that says they have to use crypto and/or fiat, they can just choose one and live with it. Compromise with what they really want so to speak. Abuse of privacy? Since when did wanting privacy become an abuse? What's abuse is hiding under the guise of automating stuff to completely control and obtain the privacy of a person (and vice versa) imo.

Ziskinberg

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Quote from: yazher on April 18, 2022, 05:39:38 AM

You see when you read all the occurrences when someone got hacked by doing the things they shouldn't really need, you will gonna learn to further secure your crypto assets but it all goes back to patiently reading the stories of those unfortunate people.

Most of the time we just learn and see the importance of our privacy after experiencing bad as this never be on our minds at the start.

Well, the truth is that people really don't mind their privacy. And to hear people getting hacked, this was not surprising anymore, it was indeed a market view that we can't hide. For we don't change and we are still careless, and never mind the value of our privacy, we neither change as well. Hacking and scamming is still certain.

Darker45

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Quote from: Slow death on April 18, 2022, 05:05:19 AM

the problem i see is that scammers are abusing privacy, i will give an example from casinos. there are bad people who are creating new casinos to steal people's money, because they know they are anonymous, they know that no one will report them because this is an anonymity market, so they have 100% guarantee that they can scam and will get away with no problems. this privacy issue is a very good thing, but it's a shame that many people are using it wrong

Casinos are not supposed to be anonymous. They are supposed to be a legal entity. A casino is to be legally registered. It is supposed to be operating within the regulations set by the government. Are casino owners anonymous? I don't think so. Casinos could actually be held accountable under the law. However, is there anybody who really pursued a case in court against a casino for stealing their money?

Privacy is actually both good and bad that is why there has to be a balance. Absolute privacy is not to be desired.

yazher

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You see when you read all the occurrences when someone got hacked by doing the things they shouldn't really need, you will gonna learn to further secure your crypto assets but it all goes back to patiently reading the stories of those unfortunate people. When you go to the Beggirner section of this forum, you will see what I really mean because you will see every month an update on ways to prevent how to get hacked because hackers are updating their techniques to fool investors and scam their money.

Slow death

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the problem i see is that scammers are abusing privacy, i will give an example from casinos. there are bad people who are creating new casinos to steal people's money, because they know they are anonymous, they know that no one will report them because this is an anonymity market, so they have 100% guarantee that they can scam and will get away with no problems. this privacy issue is a very good thing, but it's a shame that many people are using it wrong

TheNineClub

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Quote from: Zilon on April 08, 2022, 10:41:37 AM

Privacy is good and bad at the same time. And what becomes of it is dependent on who handles it and how the handle it. So far many wants to have bitcoin ditch out fiat not for the intent of having total control of their funds but for the sake of funding illegal activities online without any point of trace, regulations, monitoring or prevention.

I am not disputing the fact many still have genuine reason for going private which include bank frustration and restrictions, withdrawal limits and declaration of assets and investment as claim for legal possession of a certain amount of fiat in a local bank.

But with the insecurity and economic crisis hitting the world from all angle is it still safe to agitate for a complete decentralized society ditching the fiat for bitcoin. I only see both existing together with more preference on decentralization but my concern is if man is matured enough to handle the innovation or are you also seeing the abuse of privacy coming along with it

I don't really think we have matured enough to handle innovation, at least at the pace modern technology is moving. It seems human evolution has not been able to catch up with our technological innovations, so we see some discrepancies. So privacy will be abused wherever it can be abused, at least for the time being. I'd say that that's because we are unable to think of a future that is not Capitalism (thanks to Francis Fukuyama), and under modern capitalism, privacy is just an illusion.

7788bitcoin

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Quote from: Zilon on April 08, 2022, 10:41:37 AM

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But with the insecurity and economic crisis hitting the world from all angle is it still safe to agitate for a complete decentralized society ditching the fiat for bitcoin. I only see both existing together with more preference on decentralization but my concern is if man is matured enough to handle the innovation or are you also seeing the abuse of privacy coming along with it

If you are aware that it is impossible to ditch the fiat world altogether and enter the cryptocurrency space then you are in a fantasy world. The fact is investors does not care whether the space is 0centralized or decentralized as long as they are getting the necessary profit they are expecting Cheesy

.

When it comes to scams, it will continue to happen in the future and it is impossible to see a world without positive people.

South Park

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Quote from: Ale88 on April 08, 2022, 07:48:35 PM

Quote from: South Park on April 08, 2022, 04:06:09 PM

I have thought a lot about it, personally I think that governments and banks will eventuality release their own wallets in which you will need to pass KYC just to have access to them, they will never reveal your private keys or seed words and you will be able to use your coins everywhere there is a government registered business that deals with cryptocurrencies, obviously people like us will never accept something like this, but it will not surprise me if regular people actually did as they care way more about convenience than their own rights and the principles behind bitcoin.

Your idea could (unfortunately) actually become reality in the next years. The European Union is already trying to make a new law in order to add a KYC feature to every single address used to withdraw/deposit to an exchange. Of course even the CEXs are against this because it would take a huge amount of time and energy to check and register ever address used by every single user.

This is simply the reality that we are going to face in the future, your average person still does not understand why something like bitcoin was created, they think of it as simply an investment but they never stop to think about why it does have any value? Why despite the fact that we have fiat currencies a single bitcoin is way more valuable than any other currency around the world? But sooner or later they will learn their lesson and once they do then they will oppose all of those measures, I just hope that by the time they decide to do so it is not too late already.

Findingnemo

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First of all, most of the economic crisis are occurring due to the inflation rate hike which is here only due to the presence of fiat money. In 1990s who knows what is internet connection? In 2000 who knows what is computer? In 2010 who knows how to use smartphone but now everyone is using it for that they didn't take any special classes so when it is there then people will get used to it.

Topic: Is the society matured enough to handle privacy? (Read 625 times)