OpenNode requires KYC now! | Bitcointalksearch.org

serjent05

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Quote from: RealMalatesta on September 16, 2019, 01:29:05 PM

Evil people are taking advantage of e KYC to perpetrate evil, and the only way that they can be stopped is through KYC, with KYC government would even be able to protect investors and be able to go after scammers, I don’t think this should really stop us from still having some anonymous transaction to a length, just not going to be fully.

Well I fully agree with you. Evil minded people tends to exploit this non-kyc thing of cryptocurrency to scam investors. We can see that happened on the different altcoin projects where anonymous were once prioritized. With KYC, especially those who are creating start up project will definitely aware that whenever they scam people they will not go unnoticed because their identity are known. As for exchanges, government requires them to do them so they have no other choice but to follow it or else they will be shutdown. I fully understand OpenNode requiring KYC to be able to withdraw a fund, it is the government demand to prevent money laundering so they have to give in.

RealMalatesta

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Quote from: thirdprize on September 13, 2019, 07:53:44 AM

Only way to get investor $$ is to be legit and that means KYC.

You are right, but same investors are the ones that are antagonizing KYC because they felt their information is not being protected at that while they are in terrain of a blockchain technology that is meant to operate fully on decentralization, but sometimes, I know we have to be a little bit flexible on some rules when we want things to run smoothly, we cannot have our cake and eat it all.

Evil people are taking advantage of e KYC to perpetrate evil, and the only way that they can be stopped is through KYC, with KYC government would even be able to protect investors and be able to go after scammers, I don’t think this should really stop us from still having some anonymous transaction to a length, just not going to be fully.

thirdprize

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Only way to get investor $$ is to be legit and that means KYC.

mohdk52

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It's not really surprising, it would have happened anyway

Zionatin

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Quote from: rodel caling on August 28, 2019, 06:53:33 PM

The only place you could still set up services like that without kyc is in an unregulated country, which will no doubt get pressured to adopt regulations anyway.

You had point for that mate there's a lot of country not requiring kyc, but time comes all country plan to regulate crypto currency.
One of the reason countries start to regulate crypto because regulation in my opinion is the key to collect taxes from the crypto holders and kyc requirement is the key to locate the users need to pay taxes.
[/quote]

No taxes to pay on crypto. It has nothing to do with the government and thus no taxes. IF you don't use fiat there is no tax. Doen't matter the value is in usd it is still crypto and distributed by people like you and I.
The government does not own crypto and never will. I would like to see them come to my house and ask my to pay tax??? They welcome to try anytime. xD

rodel caling

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The only place you could still set up services like that without kyc is in an unregulated country, which will no doubt get pressured to adopt regulations anyway.
[/quote]

You had point for that mate there's a lot of country not requiring kyc, but time comes all country plan to regulate crypto currency.
One of the reason countries start to regulate crypto because regulation in my opinion is the key to collect taxes from the crypto holders and kyc requirement is the key to locate the users need to pay taxes.

Ucy

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Quote from: Lauren Smith on August 24, 2019, 01:07:49 PM

Quote from: Artemis3 on August 24, 2019, 11:54:34 AM

The only way you can set up a service without kyc/aml is if you set it up as a hidden resource in tor or equivalent "darknet" site, or something entirely p2p like Bisq which uses tor hidden service for publishing.

The only place you could still set up services like that without kyc is in an unregulated country, which will no doubt get pressured to adopt regulations anyway.

In such site only the community itself can patrol funds origin, and you could end buying "tainted coins" (ie. stolen from an exchange/phished wallet).

Interesting times indeed...

Stop spreading misinformation. KYC is a thing made by paranoid people to extract personal info under the guise of protection. You just saying stuff but have nothing to back it up with. Are you some sort of lawyer or professional in this field to be making such vast claims.

No one ever needs your KYC the entire thing is bs and directly supports crime not oppose it. You talk of the dark web. Go look how much KYC stuff is for sale there. IT just makes peoples KYC into a commodity and criminals will thrive off of it by steal trading and otherwise abusing it. Without KYC they would have no access to this info.

The gentleman probably wants us to feel cornered and defeated. He got me a little though lol. I wonder why he tried scaring the community in such manner?

Anyway, most of my crypto activities thesedays happen on decentralized platforms which enable me have total control over my fund. This approach is to crypto space what burying money underground is to fiat world.

malevolent

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That is the case, unfortunately. It was a matter of time they would change their stance. If they deal with fiat (especially USD), it doesn't take long for banks to start asking questions "what?", "where?", "why?" and "how?". If the merchants want to exchange the coins through an exchange, they'll have to go through KYC, too. They can exchange in F2F transactions but that's not as convenient for someone who doesn't have the contacts or hasn't done it yet (and LBC also asks for KYC nowadays).

franky1

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a few fools on the first page think KYC is not necessary and BS.
here is the problem they do not accept.

open node exchanges btc for fiat.. and because of fiat, fiat rules then apply to the business and so the business needs to comply with those fiat rules
if one half of business is btc and other half is fiat.. you CANNOT just pretend the fiat rules dont apply because half the business is another currency.

but if a business is 100% btc and never touches fiat.. then be very very cautious if they are asking for ID

malevolent

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Quote from: dothebeats on August 26, 2019, 09:16:42 PM

Now I'm keen to the developments of KYC for BTCPay.

Why, how? BTCPay Server is an open source & self-hosted solution. The merchant might have to through KYC to sell their coins, but that's it.

dothebeats

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Just like what I've mentioned in previous posts, it's only a matter of time before these services/payment gateways implement KYC rules in their own platforms to adhere with what the government says. It's not really hard to tell if they're going to implement it or not because that's what most services are going for anyway even if they remained strict to their stand about not budging in to the government's control. In order to keep their business afloat, they have to do some form of a compromise even though it might hurt their user-base.

Now I'm keen to the developments of KYC for BTCPay.

javadsalehi

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It should be appreciated at least they allow users that are not satisfy with KYC to withdraw their funds.
It reminds me of bittrex when they forced the users to pass KYC and disabled all the accounts immediately without any warning.
At least, this platform is allowing the users to withdraw their funds and it's up to users to apply new terms and conditions or not.
Any way, It's normal that centralized platforms ask users to pass KYC. They are forced by governments.

eternalgloom

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Quote from: Lauren Smith on August 24, 2019, 01:07:49 PM

Quote from: Artemis3 on August 24, 2019, 11:54:34 AM

The only way you can set up a service without kyc/aml is if you set it up as a hidden resource in tor or equivalent "darknet" site, or something entirely p2p like Bisq which uses tor hidden service for publishing.

The only place you could still set up services like that without kyc is in an unregulated country, which will no doubt get pressured to adopt regulations anyway.

In such site only the community itself can patrol funds origin, and you could end buying "tainted coins" (ie. stolen from an exchange/phished wallet).

Interesting times indeed...

Stop spreading misinformation. KYC is a thing made by paranoid people to extract personal info under the guise of protection. You just saying stuff but have nothing to back it up with. Are you some sort of lawyer or professional in this field to be making such vast claims.

No one ever needs your KYC the entire thing is bs and directly supports crime not oppose it. You talk of the dark web. Go look how much KYC stuff is for sale there. IT just makes peoples KYC into a commodity and criminals will thrive off of it by steal trading and otherwise abusing it. Without KYC they would have no access to this info.

Interesting point. What do you think is the main driver behind all these companies suddenly imposing KYC for all their users?
I mean, I could see it being required for larger payments, but not for low-value transactions.

You can get an unverified Paypal account and still use it to spend/collect a pretty decent amount of money.

BrewMaster

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There is trouble abrewing

it appears sometimes people associate KYC or basically government intervention with security. but the reality is that regulations have absolutely nothing to do with security. even the most regulated exchanges are going to be hacked all the same and they will try their best not to pay their users even if it means filing bankrupcy.

Carlton Banks

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Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

many people should have already understood that this requirement is quite very mandatory

no it isn't

Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

we really want to get the industry regulated

speak for yourself

regulations get used to push small businesses out of the marketplace, and are hence a bad idea that only established/big businesses want

Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

Most people keeps shouting on top of their voices for regulation

I'm not. I am a person. Other don't want it either, and choose to avoid it

Tell you what: you use it, if you want to. Don't tell me or anyone else what to do though

Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

How do you catch a thief if not by its identity

and it's already been adequately proven in this thread that protecting your identity is not just for crooks

Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

kyc is much more needed than all those personal disagreement with kyc

wrong again

Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

it is time we embrace it and just make sure that whoever we are submitting our kyc to will not use it against us please.

that's incredibly naive. thank god you've not got any power (one can tell these things)

Quote from: SquallLeonhart on August 26, 2019, 09:17:39 AM

Government would also need it if they are to regulate the industry.

terrible idea, the same old "we're protecting you" will really mean "we're protecting our friends"

SquallLeonhart

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Enough of all these KYC disagreement is it biting or killing, kyc here and there, at least by now, many people should have already understood that this requirement is quite very mandatory if we really want to get the industry regulated. Most people keeps shouting on top of their voices for regulation, how do we exactly want the regulation other than some of these things that is already being implemented.

How do you catch a thief if not by its identity, you see in this cryptocurrency industry, kyc is much more needed than all those personal disagreement with kyc, it is time we embrace it and just make sure that whoever we are submitting our kyc to will not use it against us please. Government would also need it if they are to regulate the industry.

Goyebiw

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Great! Cuz KYC is obligatory procedure today to my mind

Carlton Banks

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Quote from: avikz on August 26, 2019, 04:03:09 AM

I am just looking at the brighter side of it because increasing KYC compliance will inly increase the chance of cryptos being accepted into the mainstream economy. Resisting it will only make things worse than ever!

you're wrong, again

economic power gives you more powerful rights than anything else can, rich people know this

you're basically encouraging everyone to simply accept a reduction in the power everyday people have, by giving up information about themselves to the most powerful people who are abusing the information to increase their own economic power, and may well abuse it in increasingly less ethical ways

it's not like you don't already know this at some level, but now I've spelled it out to you, will you continue to adhere to your point of view?

marcbitcoins

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Maybe their government are now strictly enforcing them to submit into KYC procedure as per regulation policy therefore there is nothing they can do but to abide with the law or face the consequence. Anyway, there is nothing to be afraid of KYC submission as OpenNode is known a legit company and that we are a legit people too which is nothing to hide.

avikz

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Quote

you're wrong

@avikz you're making the fatal mistake that you and everyone else will always be able to trust those who obtain possession of data. The data can be kept forever (storage is cheaper than ever), and can be used to hurt as well as to help.

Possible! I can't deny the fact that data can be misued as we have many examples. I am just looking at the brighter side of it because increasing KYC compliance will inly increase the chance of cryptos being accepted into the mainstream economy. Resisting it will only make things worse than ever!

Topic: OpenNode requires KYC now! (Read 504 times)