KYC and the $5 hammer - page 4. | Bitcointalksearch.org

rachman mahesa

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Quote from: thin on July 18, 2019, 06:08:44 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.

Regulated sportbook has to obey law, and ask for identity docs. The method of payment is not that important, I guess single operator may accept fiat and crypto, on the same or different platforms. You can always find unregulated gambling site, which does not require KYC. That´s your choice.

Most gambling sites don't require KYC for everyone playing on the site. Therefore, it is very important to pay attention before we play games on gambling sites, we have to pay attention to the site must need Kyc or not. Because identity is very important for everyone.

cryptoblazter

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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.

First I want to know what sports book you talking about. Almost majority of the community here in the forum knows that Kyc

is only applicable for centralized exchange, investors for every new project that will rise here and for bounty hunters also.

thin

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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.

Regulated sportbook has to obey law, and ask for identity docs. The method of payment is not that important, I guess single operator may accept fiat and crypto, on the same or different platforms. You can always find unregulated gambling site, which does not require KYC. That´s your choice.

shoreno

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Quote from: Haunebu on July 18, 2019, 02:34:41 AM

KYC is a serious issue when it comes to bounty campaigns usually on this forum, but it isn't such a big deal in the gambling world since majority of the popular sites that I know of don't ever ask for it.

not only on this forum but on the other forum and websites as well because ive see that they also ask for a kyc whether its on a bounty ico campaign or airdrops . kyc is not a big deal on the gambling scene not because they arent asking but because they are dealing with money while on bounty campaigns you are not investing a cash or crypto on it so why will they ask a kyc ?

Quote from: Haunebu on July 18, 2019, 02:34:41 AM

FIAT sportsbooks like Bookmaker and Bodog also never ask for KYC and they accept BTC deposits and withdrawals which is why I don't understand why you are generalizing here op.

are you sure about that ? they dont ask kyc if your only a small time user but if you are depositing and withrewing large funds and if you want to upgrade your accounts limits , im sure that they will also ask for a kyc .

XCANA

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The only way they could get such individuals to get hammer is when they ask about KYC after you have earned reasonably in their scam platform's, and for them to get your KYC for trade. I almost fell for that some few months ago and I had to caution my self to be wise and at the end search their feedbacks and discovered they are total scam. Ensure you check feedback before you gamble on any platform, either old or new.

swogerino

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Bitcoin Casino Est. 2013

Most of the gambling sites that operates in crypto don't ask for KYC by default.There are certain rules that those crypto operating casinos put in place if a really big amount of money is won and you want to withdraw it directly at once.If you withdraw it like the maximum defined amount without KYC daily then you don't need to worry about it.

DeathAngel

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I don’t think it’s a problem regarding sportsbooks. Let’s face it, most gamblers lose in the long run so there’s no need for any sportsbook to steal money or attempt the $5 wrench attack because punters give them their $ any way Grin

avikz

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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.

Usually crypto gambling websites don't ask for KYC unless someone is trying to withdraw a huge amount of money! Now there are two types of crypto gambling websites, one is licensed and another is unlicensed with no origin of operations.

Unlicensed crypto casinos usually don't ask for KYC documents. But licensed crypto casinos may ask for KYC in case of a large amount of withdrawal because they also have to comply with the AML law of their country of origin. I don't see any particular risk here!

Are you mentioning any particular website here?

Haunebu

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www.Crypto.Games: Multiple coins, multiple games

KYC is a serious issue when it comes to bounty campaigns usually on this forum, but it isn't such a big deal in the gambling world since majority of the popular sites that I know of don't ever ask for it.

FIAT sportsbooks like Bookmaker and Bodog also never ask for KYC and they accept BTC deposits and withdrawals which is why I don't understand why you are generalizing here op.

ralle14

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Shuffle.com

Bitcoin sportsbook that don't have KYC at the start then later asks, only happens to a number of users usually it something has to do with the terms and conditions of the sportsbook like withdrawals exceeding a specific amount, IPs from blocked countries and more.

The difference between KYC and the wrench attack is that with KYC you could still get your money back or they could take it all away if you withdrawn more than your deposit amount.

adaseb

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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.

Which site are you referring to?

Most crypto gambling sites at the moment don't KYC.

The only time when a site might KYC is usually when there is a questionable source of the depossited Bitcoin. Basically it might of been tainted Bitcoins from some bitcoin hack and due to liability reasons the site might as for KYC for liability issues in case there is some investigation going on with those tainted BTCs. However this is extremely rare.

Only sites that do KYC, is usually the scam sites which do it because its in the terms and they don't want to make the withdraw when a player has won big. Since they know that many people due to privacy reasons don't want to KYC.

So if you provide more info about the site that asks for KYC we might be able to provide more info.

custard_pudding

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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.

Topic: KYC and the $5 hammer - page 4. (Read 848 times)