Topic: KYC is bullshit - page 6. (Read 1107 times)
For me it much better to announce the kyc system at the beginning of campaign to avoid what ever unnecessarily thoughts such as the manager is corrupt, the group who manage the campaign are corrupt because if they not want to corrupt the token they should warn the bounty participants at the beginning in order to decide to to participate or not.
They're just fighting the multi-account users and other adventurers that way, too much people are trying making easy-money on cryptocurrency turning the whole idea into a useless trash. I don't like KYC either but it's logical thing
There's even a US bill in circulation that wants to make bitcoin mixers AML/KYC compliant by defining them as banks.
Governments have definitely lost all sense. It's almost hilarious. If they actually try to make them AML/KYC compliant, they can just go ahead and prohibit them entirely, because that would make mixers lose their purpose of existence. In both cases mixers will decentralize their process entirely, so there is nothing lost in the end for people (I'm part of them) actually looking to obtain an extra layer of privacy.
It is however to be expected though. They already started with focusing on how they can get rid of coins that are focused on providing anonymity, and it is pretty foolish to think that they won't be going after mixers. It might have actually forced Bitmixer to shut down, because there is no way they would ever stop a more than successful and appreciated business in this community, especially in times where these shitty AML/KYC procedures start to become a normal thing.
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
It is not their fault. It is the law.
Since when are bitcoin gambling sites considered money transmitters for the purposes of AML/KYC? I'm not aware of any new enforcement actions or precedents that specify that.
I have noticed over the past 9-12 months that some casinos and sportsbooks have reportedly begun enforcing KYC, and in some cases the changes have coincided with allegations of insolvency or scamming.
I'm not saying it's not the law -- but I'm not sure that it is. And it's quite convenient that these sites can lock up people's funds over it.
Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.
If you deposit and withdraw only bitcoins from a casino, there is no switching between fiat and crypto. Yet, here we are....
There's even a US bill in circulation that wants to make bitcoin mixers AML/KYC compliant by defining them as banks.
I'm not a newbie, but I have no idea what KYC is, could somebody explain me what the point about? Thanks.
KYC (Know Your Client), one way of verifying their clients, so its either trading exchanges or gambling sites implementing it. One reason why we hate KYC is that crypto is supposedly (psuedo)anonymous and enforcing KYC defeats the whole purpose of decentralization. In the case of trading platforms, to be able to withdraw funds, you need to submit personal information, so they are acting like a banks now. As much as we don't like it, looks like its slowly happening and governments are really putting a lot of pressure on most exchanges now. Maybe one day we will everyone really requiring us to submit documents which is quite scary.
-snip
THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS
Whether we like it or not and time to time crypto will become legalized and KYC is the requirements in order to lessen possible scam or shady behavior. Bitcoin only can still anonymous, avoiding this KYC from many ICO project is right is another option but for me, there's nothing wrong with this KYC. We have a different perception of KYC implementation. THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS
KYC required or probably mandatory because this is main term from the particular countries if some people want to create ICO project so we can't avoid it if we want to be parts of them but ICO with KYC will not guarantee those projects will be successfully even if they are scam i fear they will abusing investors data but for me it's simple that if you does not liked KYC system then avoid them because out there still there are plenty of ICO project which is KYC not required
If you have a clear conscience, why fear KYC? There is reason why ICOs do it, and it is because of the law and the rules in their jurisdiction. As cryptocurrency are getting readily adopted by the world, be ready for regulatory measures such as KYC / AML checks.
I totally agree, crypto supposed to be anonymous, we are sick of being controlled and supervised by everyone, crypto supposwd to be giving us freedom to used and to store, kyc is just some excuse to weaken the crypto and we don't know how secure the data will be, its dangerous to submit our data to something that we are not familiar, so I am against kyc, and not all casino require kyc to withdraw try to play in bustadice, no kyc or whatever document is require to withdraw
Well, I see it as the right thing to do just like banks does whenever you want withdraw your money which you deposit with them they will start asking you for your mode of identity of which they will not ask any time you are depositing the money.
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I like the old school mentality man, I wish more people here were like you. People have always been focused on fiat, but it only becomes worse due to the massive influx of newbies only looking to bank on crypto. For them a profit is only profit if they end up with more fiat in the end....
I like the old school mentality man, I wish more people here were like you. People have always been focused on fiat, but it only becomes worse due to the massive influx of newbies only looking to bank on crypto. For them a profit is only profit if they end up with more fiat in the end....
I agree with this post wholeheartedly. It is sad to see that many newcomers only get into Bitcoin, because they hope
to realize some fiat gains. It would be much better for everyone if more people joined the Bitcoin community
that actually care about the project as an alternative to the current central banking system.
Maybe a prolonged bear market will shake out the people, who only looked for easy gains and will
ultimately lead to a healthier Bitcoin community.
KYC, AML and CFT are necessary to protect the firm from not engaging in illegal activities and protect them from lawsuits
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
It is not their fault. It is the law. Fortunately if we all get off our asses and demand change it will happen. Unfortunately, I see more ass sitting than ever. What you need to do cut the cord. Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.
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
That's right, bounty participants should not have to pass because they are not customers and do not need to sign up to their website. And even more annoying if KYC is needed at the end of the campaign for bounty participants while they do not announce at the start of the campaign. THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS
Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.
I like the old school mentality man, I wish more people here were like you. People have always been focused on fiat, but it only becomes worse due to the massive influx of newbies only looking to bank on crypto. For them a profit is only profit if they end up with more fiat in the end. They will have to expose themselves to all these regulations, and they will also keep complaining until they finally let go of that hunger for fiat profits. I too add more value to just hold my coins or to spend them in case there is something that I need. Great benefit of spending coins, at least for me (not sure about other countries), is that I can bypass tax restrictions legally. I buy with Bitcoin what I want, and then use fiat to buy back the same amount of coins that I spent.
It can be deadly to participate in KYC procedure. Imagine that the information that you are actively working in the crypto-currency sphere will get to the gangsters... What will happen?
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
It is not their fault. It is the law. Fortunately if we all get off our asses and demand change it will happen. Unfortunately, I see more ass sitting than ever. What you need to do cut the cord. Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.
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
I believe that there is nothing to be scared or worry of if we have nothing to hide and we are earning crypto in a clean manner. In my own understanding, KYC is required to ensure that the people that we are dealing with are legally living in a certain country and not criminals. This is also one way to prevent money laundering. We always wanted freedom, but sometimes too much freedom would result to abuse. But anyway, if you are doing everything legally then there is nothing to worry about.
Good for you if you have nothing to worry about and have no problem exposing all your private information to unknown entities on the internet.
But most people joined crypto to avoid this kind of stuff, the fact that people freely give away their personal information (like you say you have no problem with it) is what has made it become this bad.
are you not happy of having KYC meaning slowly authority is in the process of of adoption and study how to regulate cryptos, in that case maybe someday mass adoption of cryptocurrency occur.
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
I believe that there is nothing to be scared or worry of if we have nothing to hide and we are earning crypto in a clean manner. In my own understanding, KYC is required to ensure that the people that we are dealing with are legally living in a certain country and not criminals. This is also one way to prevent money laundering. We always wanted freedom, but sometimes too much freedom would result to abuse. But anyway, if you are doing everything legally then there is nothing to worry about.
Good for you if you have nothing to worry about and have no problem exposing all your private information to unknown entities on the internet.
But most people joined crypto to avoid this kind of stuff, the fact that people freely give away their personal information (like you say you have no problem with it) is what has made it become this bad.
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