Regulatory landscape for cryptocurrencies is still uncertain and this moment however the SEC should be able to reach regulatory proceedings that will allow for the level of scrutiny to be taken into blockchain projects and investors while still protecting the identity of the investors using the blockchain's anonymity capabilities.
KYC is important to achieve this but a storage of personal data of millions of people will be a target.
Topic: Regulations or Anonymity - page 4. (Read 1051 times)
I think the blockchain should remain anonymous. And decentralized. Otherwise, the idea is lost.
KYC should be carried out just for project organizers. Then the scam will be impossible since the scammers can be found and punished according to the law.
regulation of bitcoin is actually very important. this is the recognition of a country against bitcoin, if a country provides a regulation on bitcoin it can make bitcoin categorized as an official item and can be used without a significant obstacle. against the potential for fraud every country has a law enforcement body regarding cyberspace laws or the digital world. so bitcoin needs a regulation in order to develop in the future. KYC should be carried out just for project organizers. Then the scam will be impossible since the scammers can be found and punished according to the law.
basically crypto guarantees the anonymity and privacy of its users, but if you want to be legalized in a country,
regulation must be done, actually the regulation and KYC are good but this eliminates the anonymity of crypto
That's indeed but you can see that even the centralized exchange site can eliminate the anonymity of crypto consider each of user can apply for KYC to increase its withdraw limit. regulation must be done, actually the regulation and KYC are good but this eliminates the anonymity of crypto
Regulation is good but it's not so good as the people said.
We have both. There's no running from it. Unless you never e-verify. Then it's just that much harder to get your hands on coins these days. Want to cash out? e-verify. Want to buy? e-verify. Want to be a boss because you bought 10k BTC at 10 cents and you're just hodling and slowly selling a few satoshi on the street corners in LA every chance you get? Meh. Seems easier to just e-verify and deal with it. Yeah you can jump the coins around into something like XMR and be anonymous for a bit. If someone really wanted to trace your bitcoin blockchain though, they can.
These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
I prefer regulated cryptocurrency industry to the anonymous one. A lot of dubious activities have taken place in crypto because of this issue of anonymity where sometimes even the team won't be know until they cart away with people's funds. It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
Regulated usage of bitcoin will give an authority to use bitcoin, upon the same there isn't anything to fear thinking the government. When it comes to anonymity, there are people who wish to be hidden to the outer world. Most of the users who are into the cryptocurrency wish to be anonymous. When both ends in contradiction solution is to go anonymous.
basically crypto guarantees the anonymity and privacy of its users, but if you want to be legalized in a country,
regulation must be done, actually the regulation and KYC are good but this eliminates the anonymity of crypto
regulation must be done, actually the regulation and KYC are good but this eliminates the anonymity of crypto
Regulations and economy? They are not the best friends. If you are not a "neccessary" middlemen, of course 
. Exchanges will become self-regulated as people will demand some tools that would protect them while exchanges will have to implement rules that would take care of it. A single man can not decide for millions of other people without harming a great part of them. Let them be and those with the best set of rules will survive while others will be left for dead.
. Exchanges will become self-regulated as people will demand some tools that would protect them while exchanges will have to implement rules that would take care of it. A single man can not decide for millions of other people without harming a great part of them. Let them be and those with the best set of rules will survive while others will be left for dead.
I think it depends on the services you want and need for your deals for example, you know that anonymity and security are not siblings, maybe at most cousins! I'm using this childish example to explain that the more anonymous the situation, the safety technically will be put at risk, precisely because you are not clear about what you can do or will do! The job of these regulators is possibly to protect innocent people. Unfortunately they are not wrong and not all are getting ready to enter cryptocurrencies. In fact, it's a tiresome discussion and it diverges at various points!
The blockchain and cryptocurrency was originally anonymous. Decentralization is an integral part of them. The lack of decentralization contradicts all the rules of cryptocurrency and blockchain. Because they were originally created with this idea.
I love the idea of Blockchain - decentralized, allowing the people to conduct their business without borders and without the prying eyes of authorities. The problem is, while most people would like the idea of blockchain, they want the "safety" of regulation so that they have someone to hold their hand if it goes wrong. This comes at a high price, though. With regulation comes the loss of anonymity, and with loss of anonymity comes traceability and tax liability. I'm afraid our choice comes down to the lesser of two thieves - the scammer or the tax man.
These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
Well, I think anonymity is necessary for the market, since the blockchain is popular for this, but kyc I think only ico projects are needed because there are a lot of scams in this area! It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
If the anonymity is removed and the market is settled, then there will be no such mad races. However, the market will be very stable, and able to make a profit.
These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
That is two poles of this market and they will survive together. In the future, there may be a new form combine both
These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
My attitude to the verification of the identity is positive. The question is, how will my documents be protected and where are the guarantees that they will not fall into the hands of scammers? It will get to a time that we just have to choose between Regulations and Anonymity.
In my opinion:
If blockchain is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?
yes, indeed kyc serves to reduce scams by several people using multiple accounts. but if the process is difficult, it will make a project lonely. it must also be considered.
Regulation to some extent is necessary for the market, because the market is already beginning to receive serious money, you see that prices have started to rise and the market is already seriously starting to move upwards. Let's see what happens next, but now I think we need regulation.
exchange places usually provide very clear regulations and really really pay attention to the trade, there are still some countries that do not provide regulations on the use of cryptocurrency,
Regulations will give people more confidence about crypto sphere thereby bringing 8n new money but the reason for the creation of cryptocurrency is for anonymity and ease of transaction coupled with freedom of spending money without being monitored.
Regulation to some extent is necessary for the market, because the market is already beginning to receive serious money, you see that prices have started to rise and the market is already seriously starting to move upwards. Let's see what happens next, but now I think we need regulation.
I disagree that full kyc will eliminate scams.
Many desperate scammers will still get KYCed... They will pay to have fake documents while those who dont believe in kyc and dont want to break the law will be leave
But some of scammers are abusing KYC of the participants by creating a scam platform. I have seen someone has already posted about there was a lot of KYC that being sell on the deepweb. We need a light regulation this to prevent the scammer. Many desperate scammers will still get KYCed... They will pay to have fake documents while those who dont believe in kyc and dont want to break the law will be leave
Jump to: