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Topic: Verification on websites like Bitcoin-central and MtGox (Read 939 times)

newbie
Activity: 9
Merit: 0
I'm not really sure why you would want to get verified or why they would need you to. The whole thing seems suspicious, maybe they benefit in ways I don't know about.

I suppose that helps then trust you. For example, some time ago the bitcoin-central was under DoS. The sent an private custom url to access the site to each verified user.
mjc
hero member
Activity: 588
Merit: 500
Available on Kindle
What would be nice is a Decentralized Verification/Certification infrastructure.  Built on distributed trust.  An entity could verify a persons identity and then vouch for them through a signed certificate.  Other entities could then decide to accept or not accept this voucher.  So if an authority was found to have strong verification processes it would be given a heavier rating in the community, which would attract more reputable users, and entities that had less strong verification processes would drop off the face of the earth.

If we built a standard API then verification authorities could share the information real time and vendors could easily tie into the system.  This network of trust (to barrow from the web of trust) would allow a user to be verified once, and then have their identity used over an over.  The documentation would exist in ONE place and not all over the world.  Some of the initial nodes could easily be the places that have already begun to collect this information like Mt. Gox, BTC Jam and others.

I write about this a few weeks back,

  http://bitcoinsbs.wordpress.com/2012/12/10/rfc-trust-transactions/

and found that this is something of a hot topic, which is being wrote about elsewhere here on BT.

Along with the verification of identity a rating system should exist with a users identity.  This would mean that once a user established them self in the community they would first have to prove them self then they would either be trusted or shunned.  While this would originate as part of Bitcoin it would really serve the Internet as a whole.
newbie
Activity: 12
Merit: 0
The way i see things: by verifying yourself you offer a measure of protection for their business against charge-backs and also help them comply with the laws they operate under, therefore offering protection to the rest of their users as well.
newbie
Activity: 22
Merit: 0
anti money laundering laws
newbie
Activity: 8
Merit: 0
I'm not really sure why you would want to get verified or why they would need you to. The whole thing seems suspicious, maybe they benefit in ways I don't know about.

Bitcoin-central says if you verify, your wire transfers become automated. Why are they not automated now? Are they seriously processing them manually? (That might explain why they take ridiculously long to fund your account.)

MtGox lets your withdraw more money after verification, but how does that increase security for you?

Do they just want your personal details? Would you trust them with them?
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