Topic: KYCs (Know your Client) is killing crypto - page 4. (Read 664 times)
I totally agree with you. I hate ICO which wants to get ID from investors and bounty hunters. It is easier to buy tokens after listing on exchange than give somebody KYC data.
Yes, immediately the question of anonymity disappears. You can find a person by his documents, not exactly decentralization.
Yeah, i agree. bitcoin and cryptocurrency should not proceed with KYC.
it is erasing the value of cryptocurrency it self.
now at currently, there are many ICO's that required KYC to participate.
it is erasing the value of cryptocurrency it self.
now at currently, there are many ICO's that required KYC to participate.
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
not I got surprised also when somebody asking me if I already been given my kyc ,I thought that was Very important In crypto exchanges. As a beginnere , I did it. Not knowing that they Will take information of yours.
By this ,they can just easily trace you of what is your activities in cryptocurrencies. In this matter, if it Will help the government to know everybody who was joining the crypto world, then Its been good for everybody, nothing to hide, when you are in the right side.
Not all kyc is annoying but one time I have encounter kyc that full so much info needed from your details,example for bank statement that was crazy,we need privacy about that,not all our info were given in kyc.Most of ico's need kyc is it ok but the other like they want only get your detail and use it from scam others,i received email about that but I didn't click the link
Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.
I don't agree with KYC at all and it is one thing to get investors do it, but recently I have heard now this is the case for some bounties too. It is off putting because that certainly how cryptos were when they started, and we certainly owe it to the true nature of crypto to stop this. I won't participate in any KYC in crypto, unless it is to withdraw my funds (even then I believe it is horsecrap). Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.
Kyc is not killing crypto actually it helps users or investors to know the Ico first before making any decisions. That's one of the good inputs to have kyc most ico these days. Security shoul be verify to all investors for their own good also.
Yes, there are now a lot of ICO projects that require KYC, which causes some inconvenience to some investors because they do not want to provide their information, they want to be anonymous when investing in this market. But I think this is a good thing, KYC will help ICO projects become more transparent, reliable and resistant to economic offenses money laundering.
That might be true but that would be the people who were interested for illegal means , the bitcoin ecosystem dosent need such individuals anyhow, majority of the persons who use bitcoins are interested because its not centralized and the ease with which you can do a transaction . from my interaction not every one is overly concerned by this kyc situation because lets face it no system can be effective or produce the desired results without some measure of control and management. the real question is what is the level of control that would be instituted , but majority of the people involved are not overly concerned and would comply should that become a reality.
I guess it is a government requirement to oblige big exchanges to have KYC. I don't think KYC is a bad thing, unless you plan to use your money on evil things. Also, in order to achieve mass adoption, regulation is a must, and KYC is one of the stages to achieve it.
I completely agree to this. KYC is good for bitcoins as it ensures that the fraudsters, criminals or terrorists stay away from these. Even after there are KYC requirement for bitcoin, I see a lot of people cheating exchanges by registering accounts with fake documents. In my country, even opening a fake bank account is not that hard and you can easily get it done with the help of bank employees. I hope that government looks after these cases with extra investigation. I do not want my countries economy to suffer because of all black money being spent in bitcoins.
I agree with you about that. Some people feel that KYC thing stands for Kill Your Customer. It destroy the whole essence of crypto as being anonymous to all other people even the open ledge was exposed to public. Due to that rules, some feel like they are shouting the whole world that they send money to another man with this sum of amount. It is just like posting you whole bank statement to the internet. I can't imagine what will happen next if the criminal could openly see that list, soon there could be no one using the tech.
Why would the stock exchanges know their client? It seems to me that this contradicts the basic principles of cryptocurrencies. But who's to blame? Users themselves want to be able to exchange cryptocurrencies on Fiat. Without complying with the KYC rules is impossible. The cryptocurrency community has long stopped in its development. Without the possibility of using cryptocurrencies as currencies, we will be defeated in the war with Fiat.
I also hate the fact that KYC being a part of some ICO, Exchange, and Bounties because here in cryptoverse safety is a must so it is better to be anonymous than filling forms about yourself and what it worst is that it need to require valid ID such as passport etc etc. What if something happens and all infos were leaked? It is very unsafe and it might used to fraud others. KYC must die in crypto
I agree
I agree with you about that. Some people feel that KYC thing stands for Kill Your Customer. It destroy the whole essence of crypto as being anonymous to all other people even the open ledge was exposed to public. Due to that rules, some feel like they are shouting the whole world that they send money to another man with this sum of amount. It is just like posting you whole bank statement to the internet. I can't imagine what will happen next if the criminal could openly see that list, soon there could be no one using the tech.
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
From the point of view of governments, they can be understood. Taxation is impossible without identification of individuals when performing transactions with the crypto currency. However, this completely contradicts the principle of anonymity when working with crypto currency. For those who want to keep their anonymity out one - decentralized exchangers. I think that in any case they will be able to work by registering in offshore zones.
Hi guys, I'm investing cs-monitor. Please share how you invest in what projects in which crypto-currencies.
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
KYC is aimed towards preventing illegality that is perpetuated by some scrupulous individuals in the name money laundering, financing terrorist organizations, illegal drug cartels e.t.c using the decentralized feature of Cryptos.Measures taken by the implementation KYC will ensured tracking or tracing of both legal or illegal funds and probably arrest anyone that is involved in the illegality.
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
In my opinion about the holding of KYC on some crypto platforms it is aimed that no member cheat by having multiple accounts using one same referral address so get many benefits, this is actually good, but on the other hand members feel that the crypto world is gone privacy identity, as before where a crypto transaction is anonymous 
When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
I think KYC is great for avoiding terrorist financing and crime. in the presence of this KYC, cryptocurrency remains privacy in crypto delivery, as it only uses the address wallet as the sending data. for me, KYC is only known by the exchange and exchange only. When I was starting to get involved in crypto-currency, one of its features that attracts me is the privacy it gives you. Now with all those KYC being required in exchanges and in ICOs and other platforms, some people are beginning to be hesitant in their activities in crypto.
KYC is not good for crypto it breaks the crypto or original features of crypto. I don't like the way that exchanges and ICO is requiring us but we don't have a choice because they are pushing it. I am afraid to submit any ID, they can use it for fraud or scamming especially if the ico or exchanges was a scam in the future. Jump to: