KYC and the $5 hammer - page 2. | Bitcointalksearch.org

aioc

hero member

Activity: 2926

Merit: 567

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

You need to mention the name of the sportsbooks so people here, know what's coming to them in case they encounter this, you can opt to pick other sportsbook so your account and details will not be revealed, we all know many gamblers here like to remain anonymous.

panjul07

legendary

Activity: 3500

Merit: 1354

Quote from: joniboini on July 24, 2019, 02:09:24 AM

Quote from: Maslate on July 24, 2019, 01:27:01 AM

Personally, KYC is a big deal for everyone and not all of us can afford to lose our personal identities unless it was 1BTC, it is a really big amount for me and I'll do KYC for them.

Even for 1 BTC I won't do any KYC if the service that I use don't have any public information which I can use to sue them if something went wrong. Our identity should worth more than that.

Should have never used them in the first place if they have shady ToS which with KYC and things like that.

You have good point, but in fact there are so many people out there who do not really care about their own identity documents by doing KYC for airdrops or free small amount of money. If we don't want to do KYC, it is always better to choose gambling sites that do not have any terms related to KYC. Frankly speaking, 1BTC is big enough so I will think twice if I have to do KYC for that amount but I'm sure no trusted bitcoin gambling sites asks for KYC to their players for that amount.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: joniboini on July 24, 2019, 02:09:24 AM

Quote from: Maslate on July 24, 2019, 01:27:01 AM

Personally, KYC is a big deal for everyone and not all of us can afford to lose our personal identities unless it was 1BTC, it is a really big amount for me and I'll do KYC for them.

Even for 1 BTC I won't do any KYC if the service that I use don't have any public information which I can use to sue them if something went wrong. Our identity should worth more than that.

Should have never used them in the first place if they have shady ToS which with KYC and things like that.

Some doesn't see their information as valuable as you.
If you still remember last April fools day this year, some of the members in the forum are even submitting their KYC even without realizing it was all joke.

joniboini

legendary

Activity: 2170

Merit: 1789

Quote from: Maslate on July 24, 2019, 01:27:01 AM

Personally, KYC is a big deal for everyone and not all of us can afford to lose our personal identities unless it was 1BTC, it is a really big amount for me and I'll do KYC for them.

Even for 1 BTC I won't do any KYC if the service that I use don't have any public information which I can use to sue them if something went wrong. Our identity should worth more than that.

Should have never used them in the first place if they have shady ToS which with KYC and things like that.

Maslate

hero member

Activity: 2954

Merit: 672

Message @Hhampuz if you are looking for a CM!

Quote from: ?? on ??

In my opinion if need to withdraw large amount and website ask for kyc then i will do it, but for 5$ or for low amount if they ask kyc and website is not so known i will not do kyc and i will let that low amount there, anyway is the personal choice.

It really matters the amount and to risk our personal details for just a few bucks.
Personally, KYC is a big deal for everyone and not all of us can afford to lose our personal identities unless it was 1BTC, it is a really big amount for me and I'll do KYC for them.

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

I partially agree with you regarding the KYC procedure we have to undergo even when using bitcoin and other crypto related gambling sites and even i hate providing the details if i am not wagging huge amounts of money, on the other side of things, a sport book has to protect their business too, there are many stolen coins in the market and they do not want these stolen coins to pass through any sports book and be on the blind side of things and get into legal trouble and that is the main reason mostly every one started implementing these procedures.

PS: I was also furious when they implemented KYC and these information was shared by gambling sites and that is the day i stopped wagging huge amounts, the choice is yours whether to comply or to reject them Wink

.

TimeTeller

hero member

Activity: 2744

Merit: 588

Quote from: FanEagle on July 23, 2019, 03:22:17 PM

Quote from: virasog on July 22, 2019, 01:15:19 PM

Quote from: Spaffin on July 19, 2019, 12:15:09 PM

In most cases, even trade exchanges place conditions on users to provide passport data in the first place precisely when the user wants to withdraw a sufficiently large amount of funds. Gambling books should be guided in the same way, because not all gamblers deal with big wins.

That's what I am saying that the rules of kyc should be uniform and should not vary with the withdrawal amounts. If a sportbook or gambling site want to implement kyc they should implement it right at the time of making an account on that site and not at the time of withdrawal.

I have heard one or two cases of people who always had this KYC issue at withdrawal and I still find it very strange because the few sites I have visited with KYC requirement always did that at registration and most time I back out immediately because I am not called for such shit . I believe those who have issues with withdrawing probably didn’t go through the T&C OF THE SITE BEFORE REGISTERING, IT MUST HAVE been stated that there might be possibility of asking for personal details at withdrawal and if there’s nothing of such, that means the site is a scam site

In my opinion, KYC on its own its scam to a decentralized system, I feel it’s not supposed to be at all by no standard. Well, I feel sorry for bettors still dropping their details on such sites and I hope it wont be released to third parties.

If you are a high roller or a gambler that tends to spend huge amount of money on online casino site, you really should understand the TOS of every site that you want to play with.
Otherwise, it is your own fault when the time comes for withdrawal and other things that the site may require your personal details.
It might not be an initial requirement but later on they might ask those details when you fall to the category of their kyc protocol.

FanEagle

legendary

Activity: 2884

Merit: 1117

Quote from: virasog on July 22, 2019, 01:15:19 PM

Quote from: Spaffin on July 19, 2019, 12:15:09 PM

In most cases, even trade exchanges place conditions on users to provide passport data in the first place precisely when the user wants to withdraw a sufficiently large amount of funds. Gambling books should be guided in the same way, because not all gamblers deal with big wins.

That's what I am saying that the rules of kyc should be uniform and should not vary with the withdrawal amounts. If a sportbook or gambling site want to implement kyc they should implement it right at the time of making an account on that site and not at the time of withdrawal.

I have heard one or two cases of people who always had this KYC issue at withdrawal and I still find it very strange because the few sites I have visited with KYC requirement always did that at registration and most time I back out immediately because I am not called for such shit . I believe those who have issues with withdrawing probably didn’t go through the T&C OF THE SITE BEFORE REGISTERING, IT MUST HAVE been stated that there might be possibility of asking for personal details at withdrawal and if there’s nothing of such, that means the site is a scam site

In my opinion, KYC on its own its scam to a decentralized system, I feel it’s not supposed to be at all by no standard. Well, I feel sorry for bettors still dropping their details on such sites and I hope it wont be released to third parties.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Same here. I don't understand why most of those sports book sites asks for KYC? To comply by their country law? Then how come there are other gambling casino and sports book sites that don't ask for KYC? If laws and regulations are an issue, can't they just remotely host their sports book sites from some other countries which are crypto friendly and laws aren't that strict? This KYC thing totally kills the main purpose of using crypto currencies.

Becky666

full member

Activity: 756

Merit: 231

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

Basically you would have also let us know the platform that requested such information from you as a sportsbook. For me I wouldn't risk my life and privacy for just such dollars, even a thousands dollars doesn't worth my privacy. Although some gambler can give out their privacy for free but for me, never will I give them out.

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: ?? on ??

If the possession of a cryptocurrency is anonymous, then at least today the administration of an online casino should not require the provision of passport data. Perhaps in the future the situation will change, but so far there are no legal grounds for such requirements.

Anonymity has nothing to do with presentation of some little private details. Most of the gambling sites that even ask for KYC are the genuine ones because there is a law governing the license of gambling sites and one of it is the requirement of KYC from the gamblers for the purpose of money laundering and scam, and the obedient operators are the ones making this request but if as a player you do not find it save, you have every right to play on a non-licensed site that do not demand for KYC.

I personally do not see anything wrong with submitting my passport on a site, and I do this a lot because I verify the sites I play games and I am very sure it’s safe.

omonuyak

sr. member

Activity: 882

Merit: 269

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

That is true and not only sportsbook but all the gambling sites and exchange that are now looking for mode of identity before you can gambling or do business through they sites should focus on fiat and leave bitcoin because the aim of bitcoin is privacy. Two people should be able to do business without asking each other passport, national identity card or driving licence.

Herbert2020

legendary

Activity: 1946

Merit: 1137

almost all of those who are gambling with bitcoin are doing it because they can do it without the headaches of KYC and without revealing their identity specially since they could be subjected to hefty taxation in certain jurisdictions under tax laws that want to take a share of your winnings. not to mention that with bitcoin and the fact that it does not have any charge back capabilities there is absolutely no reason for these gambling sites to ask for KYC related documents, they do that in fiat world to protect themselves against those who charge back, use stolen credit cards,... and also to abide by regulatory laws. none of which exist in cryptocurrency world!

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

When I face this, I will skip that site because I don't want to send any document to them and I think that will be too risky for me. I will search for the other gambling website which doesn't need KYC for the member, so we don't have to verify ourselves. Besides that, we can play without worry, and we can withdraw in anytime without asking the KYC. We don't need to tell other people about how much bitcoin we have, and we don't have to send much bitcoin to any gambling site so we can protect for the other things.

Dreamchaser21

full member

Activity: 686

Merit: 108

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

A gambling site asking for KYC is unusual, and i also don't want to play if they require me for that. We should always protect our bitcoin wallet from anyone, we should consider buying hard wallet or any wallet that you can control before its too late. Don't play on any gambling site if you don't feel filing the KYC.

Zicadis

legendary

Activity: 1372

Merit: 1027

Dump it!!!

Any purely cryptocurrency sportsbook asking for KYC is almost certainly going to become desolate soon enough.

There are literally dozens of online casino platforms, e.g. Cyberdice and OneHash that don't ask for any KYC and have a full-featureset.

So why bother with KYC-requesting casinos?

virasog

legendary

Activity: 3136

Merit: 1172

Leading Crypto Sports Betting & Casino Platform

Quote from: Spaffin on July 19, 2019, 12:15:09 PM

Quote from: virasog on July 19, 2019, 12:56:58 AM

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

The KYC should be implemented or should not be implemented. There should not be a case where you won big amount and the site start demand for kyc to withdraw a big amount. Such types of kyc are made mandatory just to avoid withdrawing the big amount of money out of casino.

In most cases, even trade exchanges place conditions on users to provide passport data in the first place precisely when the user wants to withdraw a sufficiently large amount of funds. Gambling books should be guided in the same way, because not all gamblers deal with big wins.

That's what I am saying that the rules of kyc should be uniform and should not vary with the withdrawal amounts. If a sportbook or gambling site want to implement kyc they should implement it right at the time of making an account on that site and not at the time of withdrawal.

Pmalek

legendary

Activity: 2730

Merit: 7065

You shouldn't be gambling at a bitcoin casino you don't trust or whose reputation is a bit shaky. Stick to the well known names. KYC might become a requirement sometimes in the future but at least you are going through KYC at a reputable site.

fortunecrypto

legendary

Activity: 2450

Merit: 1047

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

Most of the gambling sites I'm playing are not asking for KYC so far, they will only ask it if you won a big amount, which is not an issue as they only want a verification majority of gambling sites are doing that, you cannot ask them to go back to fiat, in fact, we should be happy that so many gambling sites are now into cryptocurrency.

davis196

hero member

Activity: 3164

Merit: 937

Quote from: custard_pudding on July 17, 2019, 06:15:03 PM

A theme topic, whatever often talked about on this forum, is the $5 hammer attack.
Many people suggest to keep your bitcoin holdings secret, thus preserving the anonymity of bitcoin to a certain degree.
But then you get sportsbooks asking for photos and passports, and god only knows what else.
If a sportsbook wants all this, I respectly suggest they change to fiat.

What do you mean about this "$5 hammer"?I don't get it.
If you want to keep your bitcoins safe,just gamble on the fiat sports books websites.I mean duh, Grin

Why do so many people want to gamble on crypto sports books/casinos?I guess it's because of the false sense of anonymity.You can't be 100% anonymous anywhere.Even on crypto gambling websites that don't have KYC.

Topic: KYC and the $5 hammer - page 2. (Read 848 times)