what do people think about all the ICO's now requiring KYC? - page 2.

DarkDrake

newbie

Activity: 54

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Quote from: pereira4 on February 25, 2018, 08:38:09 AM

Good and bad.

Good because it will stop the influx of scams (presumably) since it will be more difficult for scammers to get their money into ICO scams, even if personally I think that this solves nothing since whoever wants to invest can easily bypass KYC and whoever wants to create an ICO can host it in a jurisdiction outside of KYC laws.

And then the bad, it makes it harder for the legit ICOs (not all ICOs are scams) to get funds since a lot of people are understandably not willing to give their personal information to strangers on the internet.

exactly. i have a few ico's i would like to invest in but i don't want my ID flying around on the internet.

yes i can watermark it but that does not really solve any major issue.

i could fake my id obviously. but that is not the smartest to do...

pereira4

legendary

Activity: 1610

Merit: 1183

Good and bad.

Good because it will stop the influx of scams (presumably) since it will be more difficult for scammers to get their money into ICO scams, even if personally I think that this solves nothing since whoever wants to invest can easily bypass KYC and whoever wants to create an ICO can host it in a jurisdiction outside of KYC laws.

And then the bad, it makes it harder for the legit ICOs (not all ICOs are scams) to get funds since a lot of people are understandably not willing to give their personal information to strangers on the internet.

ICO Lancer

newbie

Activity: 182

Merit: 0

Would rather not send all of my personal information to an ICO. Even if the project looks amazing, I'd rather not send my ID and everything.

The less I can get away with sending - the better.

alicia24

newbie

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Merit: 0

I don't like having to send my ID into an ICO. Who know how they use it.

KXC247

jr. member

Activity: 294

Merit: 1

It makes perceive on their end, but as a customer, I'm not thoroughly comfortable given that every of that in a row and would somewhat preserve that tidings private.

Along these lines, ideally, I'll have the capacity to discover some ICOs that don't require KYC that requires excessively individual information.

DarkDrake

newbie

Activity: 54

Merit: 0

the problem is as i see it.

people are saying 'leave crypto unregulated' and we don't want regulations.

isn't this exactly a regulation? are we not forced to provide our id to invest in something? that in my eyes is a regulation.

pro2017

member

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Merit: 11

I think it's necessary to be legal for the crypto world
a legal asset will be valuable

LancelotRay

newbie

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It makes sense on their end, but as a customer, I'm not really comfortable providing all of that information and would rather keep that info private.

So, hopefully, I'll be able to find some ICOs that don't require KYC that requires too much personal info.

DarkDrake

newbie

Activity: 54

Merit: 0

Quote from: housebtc on February 25, 2018, 07:59:29 AM

I think it is the fear of government especially US government, if there is a sense that you steal from US citizen then you are indeed in trouble, no matter where you are they will come for you, and the last thing you want as a project is US government coming for you, there is just one winner in that race

I get that the us is a threat because of their citizens investing etc.

but i just don't like having to send my id into an ico (which could scam quit like we have seen before) they could then use it for whatever purpose they want.

i realize you don't 'have' to invest in ICO's however if you/I wait for the token or exchange to launch we might miss out on a lot of profit or bigger bags of coins.

housebtc

sr. member

Activity: 588

Merit: 252

I think it is the fear of government especially US government, if there is a sense that you steal from US citizen then you are indeed in trouble, no matter where you are they will come for you, and the last thing you want as a project is US government coming for you, there is just one winner in that race

DarkDrake

newbie

Activity: 54

Merit: 0

So. i have been interested in the new Neonexchange ico that is about to be announced today. however, they made a tweet that KYC is mandatory.

now i am a guy that loves the crypto space because you can invest without anybody really knowing who you are.

but as more and more coins/services require your id to even pay you for what you have bought i feel like we are losing some of what crypto is.

i have even seen bounty campaigns that require your id to pay you.

how are peoples thought about this? i really dislike the direction that icos are taking. at this point i will only buy when a coin hits an exchange and even that seems to have id requirements coming up...

Topic: what do people think about all the ICO's now requiring KYC? - page 2. (Read 221 times)