KYCs (Know your Client) is killing crypto - page 6.

Lampaster

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Quote from: leland orser on March 04, 2018, 09:28:34 PM

I think it's very dangerous to send KYC to these teams in cryptocurrency markets.
Since I have seen sell the KYC data obtained by the ICO team in private, our KYC is not well preserved.

Why do you think that the leak occurred through the fault of the ICO? Your data can be stored anywhere. You categorically trust the bankers? Lol. Banks also employ people. They can sell the database or hackers can hack into the Bank's servers. The tax service has such a base. Our data is everywhere.

Rustamm

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Bitcoin lover!

Quote from: kueyen on March 01, 2018, 02:01:30 PM

KYC is becoming a big problem for ICO investors and bounty hunters as well. It is hard enough as it is to find a promising and reputable ICO to invest your money and time in; and some inevitably turn out to be scams. It is a terrible prospect to lose your ID related information in addition to your money, if the ICO turns out to be a fraud.

For investors and bounty hunters, holding KYC in ICO campaigns is really a big problem now because there are so many fraudulent ICO projects now and it turns out that we transfer personal data and copies of our passports directly to criminals. Moreover, bounty hunters are not investors and there is no need to conduct such a check. Avoid such verification by not joining such ICO companies, because ICO companies begin to require the provision of identification information and copies of passports after the ICO, when counted earned tokens and refuse to pass a test, KYC means to abandon their tokens.

speedy1987

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Quote from: otandelapaz on March 01, 2018, 12:53:35 PM

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 ( Know your client ) is a document which consists of details about your customers such as name, address, bank details and even some times the pic of them, i order to proceed through the bitcoin exchange and ICO.
It will verified within few hours but some times it take some time to verified which make us to feel bad. This in term reduce the criminals and frauds to participate in the cryptoworld. If you dont have nothing to hide them KYC wont be killing you.

leland orser

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The Experience Layer of the Decentralized Internet

I think it's very dangerous to send KYC to these teams in cryptocurrency markets.
Since I have seen sell the KYC data obtained by the ICO team in private, our KYC is not well preserved.

lepbagong

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Quote from: otandelapaz on March 01, 2018, 12:53:35 PM

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.

this is very justified ..... because in the presence of KYC, many who are in doubt may even have started not believing, but fortunately not all can and want to do so a priority.

datodota002

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Quote from: otandelapaz on March 01, 2018, 12:53:35 PM

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, this really necessary because as we know bitcoin is very anonymouse on the network and almost impossible to know the identity of person on blockhain. so the exchanger need to know the customer from the beginning when he sign up on the exchanger to prevent money laundering and terrorist fund.

Lexurdania

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Quote from: otandelapaz on March 01, 2018, 12:53:35 PM

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 a many country that already have regulation about cryptocurrency they must need to protect their citizen interest. Few ICO need KYC because they want to obey the rule on that country and for investment safety. If we dont want to register KYC, we can buy it in market or exchange

Indrawan77

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Yes this KYC has making people hesitate to join and causing crypto currencies lost it's most precious feature which is anonymous, but nothing much can be done, since crypto already turn this big and famous, the government doesn't want everyone to avoid taxes, want to prevent somebody to do illegal transactions and money laundering, the one that I concern is they will misused our identity

Dissident991

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Quote from: otandelapaz on March 01, 2018, 12:53:35 PM

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 not killing crypto. There is no another way, because governments need to combat crime and money laundering. It is the neccesary step for adoption crypto in real life, without KYC nobody can protect your funds.

jakelyson

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If you have nothing to hide, then you will not be afraid of KYC. It is a requirement imposed by the government, so exchanges have to abide and so are we. And there is always options if you do not want to do KYC. Choose a good dex and trade there. Or if you just want to turn you crypto into fiat, deal directly to your peers or people in your community. Some of my facebook friends are doing that to avoid large fees from exchanges.

Reid

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Quote from: jpaul on March 01, 2018, 01:00:44 PM

You won't have to worry much about exchanges getting KYC requirements as decentralized exchanges are being made. This year many decentralized exchanges are going to be launched which should open many option for us to exchange our coins without the need to verify ourselves.

Decentralized exchanges with what? With a limited amount to get out?
It wont work. As long as you are using a lot of money in exchange just like bitcoin then you will have to deal with the law.
They want to prevent every large withdrawal as possible to avoid buying illegal weapons and drugs. This also have something to do with money laundering.
It will not be easy now ever since the bitcoin value went up. Tracking it will always matter to the government.

noloco

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More regulation and KYC and control will turn crypto into an asset like stock or bonds. It would be better in some cases and worse in others.

Meysa_richa

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It is true that nowadays many are put to use KYC requirements, and that is great for security as well as many bounty sigcamps that require KYC requirements, that's good to do.

jlanzago

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Well, if you have something to hide... I don't think it is killing crypto. What would kill crypto would be no way to convert it to fiat.

Jaya912

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Quote from: AGD on March 01, 2018, 01:00:34 PM

1. Crypto=Cryptography
2. Cryptocurrencies doesn't need KYC just as they doesn't need centralized exchanges.
3. Centralized exchanges are going to die not only because of KYC.

so may i know why centralized exchange will be dead and its not because KYC, so because what?
i think the centralized exchange like bittrex is still very popular among the exchange and even the decentralized exchange has smaller trading volume.

hadveach

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yes, ICO rules today are getting tough, and I think KYC has great benefits, such as minimizing money laundering for whitelist or investors and minimizing cheating ICO participants.

so, in addition to interfere with crypto but the benefits are greater.

oni4an

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For someone it is possible and bad, but in a greater sense it is even very good, it is an additional recognition, it is the safety of people who invest their money, it is an opportunity to keep track of criminals. And for those who want to remain incognito there are anonymous cryptocurrency.

378budiman

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You do not have to worry much about the exchange of getting KYC requirements because a decentralized swap is being done. The bankers continue to attack. They know the most vulnerable places of all cryptococcal users. Many exchanges are forced to follow stricter KYC rules to get permission to work with Fiat.

dark08

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Quote from: havok1998 on March 03, 2018, 11:58:14 AM

KYC is not killing the crypto market. its building a bridge between government and people to make sure people pay their taxes that is necessary for development of a country. and moreover crypto is still private in transaction case as government will only know how much have you bought on exchanges,etc but they will never know whom the funds are transferred and can never track the transactions taking place. KYC is good and favors both government and the investors. it also stops the illegal and terrorists funding going in the world. the whole point is to make crypto regulated as is the case with buying shares or gold.

so overall its a step forward for development of cryptos and making them part of investments for people.

Yes I agree its not killing the crypto but the one that I hate with this kyc system you need to give your information as easy haha Im not favor with this but we have no choose but we need this to get our reward token.

burdagol12345

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Quote from: otandelapaz on March 01, 2018, 12:53:35 PM

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.

Will this statement for me is true,mostly people want to become anonymous,to protect there self in harm,or some bad people who take advantage of your asset,but when this KYC implemented the identity of the person will become seen,and maybe it will endangered to the life of many bitcoiners or investor,thats why some of us become worried why should the forbidden before in crypto to hide your identity they will change it to KYC,maybe there something fishy.

Topic: KYCs (Know your Client) is killing crypto - page 6. (Read 664 times)