Topic: KYC is bullshit (Read 1107 times)
We like it or not, we need to follow the jurisdiction of each country. They say it is because of the possibility of money laundering that has been going on but I believe that fiat has 100x more money laundering cases than crypto but we can't really do about it. Just think about that we are giving an impression to other people that we are also against crime when we agreed to KYC.
Info not really like kyc, I hate this so much since it started until now but my problem is I don't have a choice, the more I resist it the more I create more steps away from the good ICOs which is profit is 100% possible.
The question now is this,;
If we don't like kyc, how can we stop it if the situation is in favor to this new implementation in crypto world?
The question now is this,;
If we don't like kyc, how can we stop it if the situation is in favor to this new implementation in crypto world?
..kyc now is the process that you will undergo to be enable to participate in some bounty and icos..i agree with you..it is your personal information that you will never give to somebody for it is your privacy to keep your information safe..i donnot like also the kyc because i dont want to give my personal information..but still it is indeed a process that you should do..some bounties and icos do this to prevent malicious attck and to secure there token and to have a fast track on their customers..just try to avoid and do not participate on bounties and icos that need kyc..so that your info will not become viewablr to the public..
KYC is an issue, however it's a regulation downside.
I think it is also an issue because the cryptocurrency is a non disclosure financial system and KYC is just contrary to it goal. With KYC, you expose your information and data to the public through that exchange. I think regulations should leave out the aspect of disclosure but to regulate the exchanges.
Because scams and frauds multiply and we need some changes for us to move on and put everything into places. Now , if the site requires KYC and its a part of their regulation, if you do not want to obey them , then better find something without requiring your information. Withdrawing money absolutely needs personal information for security, what do you expect?
Right. When you are on right move with legit ICOs, then no fall back in giving them the personal documents required to verify your identity. It is indeed needed when so many fraudulent activities are easily taken upon using our personal information shared. So be more aware of giving out your personal documents to anyone. If the documents are required for the right purpose, then don't hesitate giving out them.
Because scams and frauds multiply and we need some changes for us to move on and put everything into places. Now , if the site requires KYC and its a part of their regulation, if you do not want to obey them , then better find something without requiring your information. Withdrawing money absolutely needs personal information for security, what do you expect?
Right. When you are on right move with legit ICOs, then no fall back in giving them the personal documents required to verify your identity. It is indeed needed when so many fraudulent activities are easily taken upon using our personal information shared. So be more aware of giving out your personal documents to anyone. If the documents are required for the right purpose, then don't hesitate giving out them.
I think KYC is not bad thing for bounty & token sale because some bad people always try to spamming in everywhere.KYC just helping to identify fraud people i think it's more effective.But i support KYC only for if it look like legitimate project.
the presence of kyc is very helpful when a country wants to regulate the movement of crypto in the country to avoid things that are not in want like theft or others because the kyc does not harm and even protect us as users of crypto and I strongly support this activity.I think KYC is not bad thing for bounty & token sale because some bad people always try to spamming in everywhere.KYC just helping to identify fraud people i think it's more effective.But i support KYC only for if it look like legitimate project.
the presence of kyc is very helpful when a country wants to regulate the movement of crypto in the country to avoid things that are not in want like theft or others because the kyc does not harm and even protect us as users of crypto and I strongly support this activity. 
Because scams and frauds multiply and we need some changes for us to move on and put everything into places. Now , if the site requires KYC and its a part of their regulation, if you do not want to obey them , then better find something without requiring your information. Withdrawing money absolutely needs personal information for security, what do you expect?
Right. When you are on right move with legit ICOs, then no fall back in giving them the personal documents required to verify your identity. It is indeed needed when so many fraudulent activities are easily taken upon using our personal information shared. So be more aware of giving out your personal documents to anyone. If the documents are required for the right purpose, then don't hesitate giving out them.
Because scams and frauds multiply and we need some changes for us to move on and put everything into places. Now , if the site requires KYC and its a part of their regulation, if you do not want to obey them , then better find something without requiring your information. Withdrawing money absolutely needs personal information for security, what do you expect?
I think KYC is good sign for every people because without KYC we can not identify fake people in crypto world.
Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.
Bpunties used to be fun but now everything requires a fucking KYC. NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!
THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS
Bpunties used to be fun but now everything requires a fucking KYC. NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!
THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS
KYC is logical progression as more and more regulations come into crypto space. New ICO projects require them in order to be as compliant as possible to laws. That way they will have less problems in the future when some government agency takes them under closer look.
That being said, there should be no KYC for bounties. I thought that main point of KYC is to stop money laundering. If you are doing bounty you are not investing anything therefore no KYC should be needed.
There is still a lot of gambling sites that don't require KYC. For instance Nitrogen Sports which is one of the best crypto gambling sites for sure, and wbet7 which accepts several altcoins for betting deposits/withdrawals.
i have an account with Nitrogen but i dont know how to go abt their betting sysytem
If it's a legit ICO I would better hand over my documents to them. Study and analyze the ICO and hand over the ICO the documents. ICO's details like, road map, white papers, investment amount, infrastructure, team members and their profiles would detail you of a legit and non legit ICOs. If you have been following the ICO for few months, you would be made sure of giving KYC to them or not.
I do not quite understand how KYC can be useful to customers, it is more likely to be more useful for companies.
To avoid illegal use of money they need kyc, there is nothing wrong to produce your documents. Because nowadays kyc is needed in all fields. Normally banks need kyc from their customer. Your fear is correct but qe have to check that we can give the documents to right person or not. We have clearly check really they need kyc for good purpose then it will be ok to produce. Otherwise if you had a doubt dont give.
This is the biggest problem in KYC that you can not be sure when you send your documents to KYC, so that scammers do not reach them and do not use them for their own purposes I do not actually understand the real reason of it until now. I mean I understand if it is only for the investors but asking even the bounty hunters is very funny. However the problem is we do not have a choice if we want to get the opportunity of making money.
Yeah, same here I still do not understand why are required to give our KYC even in bounty hunters , it is taking risk to people here like giving our information and there is a big possibility that they will used it in illegality or criminal acts. 
To avoid illegal use of money they need kyc, there is nothing wrong to produce your documents. Because nowadays kyc is needed in all fields. Normally banks need kyc from their customer. Your fear is correct but qe have to check that we can give the documents to right person or not. We have clearly check really they need kyc for good purpose then it will be ok to produce. Otherwise if you had a doubt dont give.
I agree that it's a trend, since crypto is money, and money is supposed to have regulations to prevent illegal activities. If you don't want to give out your information, then don't. You won't lose anything except the opportunity, the same applies to the everyone, and KYC doesn't guarantee a projects success anyway. The point of crypto is to be like cash, but electronically and without having to go through banks.
Once the Internet is available, you cannot rely on the confidentiality of your personal data. Without providing this data, you do not know where it will be stored and who will have access to it. For example, you trust the banks? Any Bank clerk has access to accounts and customer data. The human factor is everywhere.
Agreed! Even when using the social media, we are.already exposing a little of our information.
Everyone knows how much of burden the KYC has given to us. But, on the brighter side, KYC procedures can protect investors and ICO's from illegal activities. Only thing that bothers us is, we are giving out our essential information over to someone we dont know and the risks of your identity to be stolen is high.
A meritful post.
Thank you
I am just being fair and not being on a one sided opinion regarding these KYC procedures, which has caused the other investors to become disappointed with these implementation.
Chillout man. They are just doing that stuff because they're following the laws to make sure that their project has no problems in the future.
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