Absolutely, everything is changing which is very disturbing but others see it to be good. Gone are the days who cares about your identity. Now every single shit KYC is needed. This sometimes makes me feel one day we will wake up only to find out Crypto world has been centralized.
And this is going. ICO was an element of decentralization. IEO is centralization. Mining is concentrated in large pools. This KYC is a "good" addition to the going on. It seems we need to leave only BTC. It all started with it, and let it continue. 
Topic: KYC defeats the purpose of Crypto. Thoughts anyone? - page 10. (Read 1690 times)
I can see where people are coming from when it comes to KYC but I also think that compliance is important for the safety of populations over individuals. We have seen the war on drugs and major scams happen which directly alter a community. So yes KYC isn't ideal but I think keeping individuals safe reigns supreme
Blockchain forensic companies like ciphertrace are what keep my beliefs in the bigger problems at large rather than a single bad transaction. It's the ones where a ton of people are getting harmed
Blockchain forensic companies like ciphertrace are what keep my beliefs in the bigger problems at large rather than a single bad transaction. It's the ones where a ton of people are getting harmed
The KYC process annoys the hell out of me. I remember a time when you could trade coins freely and without owning up to your identity at all. Not that I'm hiding anything, I just don't like every man and his dog having a copy of my government ID - I feel that's very intrusive. I mean the whole idea of cryptocurrency was anonymous peer-to-peer trading without government intervention. Now it seems you can't fart in the wrong direction without someone breathing down your neck.
I mean I get it, exchanges, ICO's, etc, want to be on the safe side -- although what I really object to is these places accepting my crypto first and then telling me that I need to give them a mugshot if I want to use it, or withdraw it again. It's a nightmare.
Anyone else a bit miffed with all this identity craziness we're in right now?
Or am I just being a grumpy old man?
KYC has some positivity for the cryptos as well,because there is an opinion among the people about cryptos was used by the criminals and also being used for illegal activities so if we can prove that we are also using cryptos as a normal user then it can bring adoption among the common people. I mean I get it, exchanges, ICO's, etc, want to be on the safe side -- although what I really object to is these places accepting my crypto first and then telling me that I need to give them a mugshot if I want to use it, or withdraw it again. It's a nightmare.
Anyone else a bit miffed with all this identity craziness we're in right now?
Or am I just being a grumpy old man?
Absolutely, everything is changing which is very disturbing but others see it to be good. Gone are the days who cares about your identity. Now every single shit KYC is needed. This sometimes makes me feel one day we will wake up only to find out Crypto world has been centralized.
Yeah crypto is suppose to be anonymous but the minutes kyc started becoming a requiremrnt, crypto has stated deviating from the purpose of anonymity and decentralization to what i would call semi-centralize, where is decentralization and anonymous when personal information about users are now been requested for? i think crypto has really deviate from it's purpose.
Of a truth this is not making sense, KYC should not in anyway be compulsory in crypto, it should be optional. Crypto transactions are done among individuals without physical contact, the goal is decentralization. Come to think of it, I don't know the identity of the company or whatever it may be I'm dealing with, why do they need to know mine. KYC should be optional in crypto it is not compulsory.
If you see the recent time projects which is been launched via exchange launchpad, they are mostly receive your KYC to invest and participate on public sale too. So how did you say most of the coins are not required KYC.
If you are referring the coins already listed on the exchanges and large in the use.
Obviously yes we can find it easily without KYC buddy.
From my observations made in the crypto space, KYC is just one of the ways people are trying to make crypto transactions centralized. KYC was the first step introduced to obtain information about people on a particular platform to monitor their activities and also know the amount of crypto coins they have. KYC is currently the flaw in the crypto space.
But remember that on the DEX you really don't need a KYC process because of the idea which DEX'es have. Then every transaction is not centralized.
DEX is a good option for those users who don't want to undergo KYC. But from what I have seen, the prices (in terms of ETH) is normally at least 20% lower in DEX when compared to the other exchanges. And not all of the tokens can be traded in DEX sites.
From my observations made in the crypto space, KYC is just one of the ways people are trying to make crypto transactions centralized. KYC was the first step introduced to obtain information about people on a particular platform to monitor their activities and also know the amount of crypto coins they have. KYC is currently the flaw in the crypto space.
But remember that on the DEX you really don't need a KYC process because of the idea which DEX'es have. Then every transaction is not centralized.
if investors, in my opinion, are very reasonable if they do KYC because they make an investment and must secure their assets, but for exchanges that require KYC to actually challenge anonymity,but that is presumption now and we can't avoid it.
What most tokens does during they ICO is all investor's will go through kyc process and when going into the exchange they customers don't need any other kyc again thee will only work with the on they have already done on the site. But most exchange's this days place limit on the amount of trade you can carry out until you have done kyc. 
if investors, in my opinion, are very reasonable if they do KYC because they make an investment and must secure their assets, but for exchanges that require KYC to actually challenge anonymity,but that is presumption now and we can't avoid it.
Yes, the aim of anonymousity and decentralization has been defeated through kyc but the truth is that we can run away from it if we want the world to embrace cryptocurrency and being adopted by the masses and global institutions.
Yes i defenitely agree with you. thats why i don't agree with KYC. but of course everybody have their own opinion because they are have difference purpose or difference reason why they use crypto. but for me anonymity is one of the reason why i use cryptocurrency, so..
One of the beauties of crypto-currencies is that it creates an avenue for users to maintain some level of anonymity, but with the constant pestering about KYC (many of which are scams) that seem to be waning. kYC presents a single point of failure for crypto unique feature of anonymity (or pseudo anonymity)
..yeah that's true..if all of the crypto related exchange and companies would implement KYC,the anonimity of every crypto holders will be violated and that is not a form of a decentralize government..I don't believe on KYC in crypto for the integrity of our personal data are private and you have the right not to disclose all your private information to the public..
Same point I keep making, I don't see any reason why we need to carry out any KYC process before we can be able to withdraw our tokens, it doesn't even make any sense, the only time any company should conduct KYC is when payment via fiat is available in the platform to make purchase of token, but any other reason is just pure wickedness and I don't see any need, if there is anyone that need KYC, it should be those who are in charge of the project because we don't really know who they are and we commit our money to them.
One of the beauties of crypto-currencies is that it creates an avenue for users to maintain some level of anonymity, but with the constant pestering about KYC (many of which are scams) that seem to be waning. kYC presents a single point of failure for crypto unique feature of anonymity (or pseudo anonymity)
..yeah that's true..if all of the crypto related exchange and companies would implement KYC,the anonimity of every crypto holders will be violated and that is not a form of a decentralize government..I don't believe on KYC in crypto for the integrity of our personal data are private and you have the right not to disclose all your private information to the public..
One of the beauties of crypto-currencies is that it creates an avenue for users to maintain some level of anonymity, but with the constant pestering about KYC (many of which are scams) that seem to be waning. kYC presents a single point of failure for crypto unique feature of anonymity (or pseudo anonymity)
..yeah that's true..if all of the crypto related exchange and companies would implement KYC,the anonimity of every crypto holders will be violated and that is not a form of a decentralize government..I don't believe on KYC in crypto for the integrity of our personal data are private and you have the right not to disclose all your private information to the public..
yes i think it destroywed the anonymously of a user if a project needed KYC. All of your personal info are needrd so you can join or partcipate in a certain event.
The KYC process annoys the hell out of me. I remember a time when you could trade coins freely and without owning up to your identity at all. Not that I'm hiding anything, I just don't like every man and his dog having a copy of my government ID - I feel that's very intrusive. I mean the whole idea of cryptocurrency was anonymous peer-to-peer trading without government intervention. Now it seems you can't fart in the wrong direction without someone breathing down your neck.
I mean I get it, exchanges, ICO's, etc, want to be on the safe side -- although what I really object to is these places accepting my crypto first and then telling me that I need to give them a mugshot if I want to use it, or withdraw it again. It's a nightmare.
Anyone else a bit miffed with all this identity craziness we're in right now?
Or am I just being a grumpy old man?
I mean I get it, exchanges, ICO's, etc, want to be on the safe side -- although what I really object to is these places accepting my crypto first and then telling me that I need to give them a mugshot if I want to use it, or withdraw it again. It's a nightmare.
Anyone else a bit miffed with all this identity craziness we're in right now?
Or am I just being a grumpy old man?
No, you are not a grumpy old man. Kyc is watering down the efficacious design of cryptocurrency and if things continue this way, the centralised bodies will have their way and fully regulate cryptocurrency to their benefits
The KYC process annoys the hell out of me. I remember a time when you could trade coins freely and without owning up to your identity at all. Not that I'm hiding anything, I just don't like every man and his dog having a copy of my government ID - I feel that's very intrusive. I mean the whole idea of cryptocurrency was anonymous peer-to-peer trading without government intervention. Now it seems you can't fart in the wrong direction without someone breathing down your neck.
I mean I get it, exchanges, ICO's, etc, want to be on the safe side -- although what I really object to is these places accepting my crypto first and then telling me that I need to give them a mugshot if I want to use it, or withdraw it again. It's a nightmare.
Anyone else a bit miffed with all this identity craziness we're in right now?
Or am I just being a grumpy old man?
I mean I get it, exchanges, ICO's, etc, want to be on the safe side -- although what I really object to is these places accepting my crypto first and then telling me that I need to give them a mugshot if I want to use it, or withdraw it again. It's a nightmare.
Anyone else a bit miffed with all this identity craziness we're in right now?
Or am I just being a grumpy old man?
If Kyc has a capability to defeat the purpose of crypto for sure decentralization is no longer exist in my opinion.
But why decentralization exist at the present time now? it is simply because this is the uniqueness of crypto base on my
analysis. Although, most of the community here hate it, but can't do anything about it but to apply or submit their personal
info if they want to get their profit.
I think now we have to get used to the KYC, because many ICO project, STO, are asking for KYC as a requirement, and in case they do not want to do it they just do not receive any reward, many claim that they demand it to avoid fraud, there are many that They are cheaters.
For the STOs they are demanding many rules, including having everything as legal as possible, this with the purpose that the investors finally achieve trust in projects that do not become SCAM. And seeing it that way I think it's worth it.
For the STOs they are demanding many rules, including having everything as legal as possible, this with the purpose that the investors finally achieve trust in projects that do not become SCAM. And seeing it that way I think it's worth it.
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