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Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

I’d say this post doesn’t belong to meta section but I don’t know where it exactly fits.

KYC comes with cryptos becoming popular, widely used and regulations. I find it naive to think that bitcoin, or any other crypto, is going to be the currency of the future and it will remain 100% anonymous.

I don't have a problem with KYC  and  his nothing to fear.

KYC is logical progression as more and more regulations come into crypto space. New ICO projects require them in order to be as compliant as possible to laws. That way they will have less problems in the future when some government agency takes them under closer look.

That being said, there should be no KYC for bounties. I thought that main point of KYC is to stop money laundering. If you are doing bounty you are not investing anything therefore no KYC should be needed.

There is still a lot of gambling sites that don't require KYC. For instance Nitrogen Sports which is one of the best crypto gambling sites for sure, and wbet7 which accepts several altcoins for betting deposits/withdrawals.

But in recent time more crypto related sites implementing this as must because they are facing problems without this I personally have some problems with this as I try to pass in last 20 days but they are doing some tricks which are not acceptable but we have to follow this even many bounties also posting must pass otherwise you are not eligible for bounty

You are thinking the wrong way.

This is your privacy. Even if you have nothing to hide, if you give your Identification documents, Driver's license, etc, they can be used for criminal activities.

Even if the "owners" of the website do not use your documentation for illegal activities they can sell your data to third party.

KYC is an issue, however it's a regulation downside.

Since we are now in the world of modernization including the crypto currency, i think it is by far legal to accept KYC everywhere unless of course they were under the government e.g. CIA or any other secret society that belongs to the government. Since Bitcoin is a vast majority of all crypto currency there are also tokens that really needed some identifying of the personal information of the user. I think their movement is something like collecting data to everyone of us unless you are really willing to give your identity but the total anonymity of a person will be compromised.

There's two things happening:

More legitimate entities (like licensed exchanges) are enforcing KYC because regulators are closing in. Regulators might shut them down (or even level criminal charges) if they don't do KYC per money laundering regulations.

But I believe less scrupulous entities (including ICO issuers and casinos) are capitalizing on this trend in order to deny people their rightful payouts. When people rightfully refuse to give up their documents to anonymous strangers who might sell them on the dark market, they don't get paid. That's free advertisement for ICOs, free money for casino's coffers, etc.

This gotta to think whom to send documents.

back again to each of us when a new regulation implements a KYC on the dompeet of the users of digital currency they may have thought first until the policy is made we think positive whether it is for the safety of our own wallets.

KYC is not a problem for you actually, because kyc is only used in exchange, and personal wallet is still an anonymous thing. you do not have to hesitate and afraid to provide data information, because at this time began to see the protection of our data information.
look at the EU already make GDPR regulations and this will continue to other countries.

KYC is legally progress towards the bitcoin.

It has some elements of legality here which makes it something worth discussing on this board of the forum as well.


The simple truth is that times are changing and the anonymity that crypto currency promises is being abused by people which then gives no other option for bodies whose objectives is to ensure that there is no anonymity the opportunity to make their case. Just last week we read about how some individuals kidnap someone and ask for bitcoin as ransom. We have read about how people move funds because it cannot be traced, hide bulk of their funds in crypto so as to avoid government reach in case they are being tried for impropriety etc.

This is the new reality and there is not much that can be done. For gambling sites, I think its mischievous for them to start asking for KYCs after receiving deposits while for the bounties, I would want to be more careful before dropping my details for those people as most of them dont have enough infrastructure to ensure the data are safe.

KYC is a legal process and it ensures the owner that you are not a scammer or illegal buyer

To be fair, Bitcoin was the first crypto, and it wasn't really built with complete anonymity in mind. A case could even be made against that, considering how the ledger is completely public. But yeah, I'm nitpicking here lol.

This is an unfortunate side effect of regulations starting to creep in. You also need KYC for pretty much anything that relates to money, and if crypto is money, then it follows that it should be held to similar standards. I'm not saying it's fair, but you sadly can't have it both ways.

Who ensures the 'owner' isn't a scammer?

You're not nitpicking. You are saying that what needs to be said. It's pretty annoying to see people say this or that is against crypto, and that we are moving in the wrong direction, etc. Bitcoin's purpose was just to avoid having to ask permission from whatever entity to move value from one place to the other, and nothing has changed in that regard.

It's as always the people coming up with this nonsense. How difficult is it to have somewhat of an open mind? Centralized services have their policies and terms, which if it isn't something you can deal with, then avoid that specific service. No one forces people to use them. It's an optional service that you can use or ignore, whatever you feel comfortable with.

You know what's against crypto? People saying that what others do is against crypto. In other words, deciding for others what's good or bad. We have our government do that already, we don't need more of this.

You should be afraid, the point of cryptocurrencies was to create a different system than fiat with different rules, I understand that if you wanted to convert your coins to fiat you will need to go through KYC but  now even if you do a crypto to crypto exchange now businesses want your information which means that cryptocurrencies are no longer something different, also the information and documents that you are giving away can be used in the wrong way, that is something that happens a lot and you should try to avoid to give that information, after all if you do not give your information then it is a lot more difficult to get access to it.

I know where you are getting at but like what others have said we somehow need to sacrifice anonymity in order for cryptocurrencies to move forward and be embraced by a lot of people, this ICO developers and lately Gambling site are only requiring KYC because the government demands them to do, after all they are all businesses and transactions involving money especially large sums of it need to have proper documentation, mostly they are requiring this to avoid possible criminal activities like money laundering, tax evasion as well as terrorism. And what is the logic behind not trusting your information to strangers? When you are brave enough to start betting on them?

life is unfair anyways :) of course they will allow you to deposit without anything
see it as the banks when you come to get a mortgage or a loan-some of the banks will give you such a contract with fineprints,hidden clauses and such
the things that could discourage you are hidden,the "hooks" are printed in big letters and promoted
KYC is a way to control you,they don't want some assets they have no control of to be moved in and out,without getting taxed or at least taken records of
crypto is pseudoanonymous,to be fair and complete anonymity is a myth,read about Chainalysis,Ciphertrace and similar
for example:  https://www.coindesk.com/irs-using-bitcoin-tracking-software-since-2015/ (https://www.coindesk.com/irs-using-bitcoin-tracking-software-since-2015/)

I think the point which you are saying is absolutely correct. Cryptos were made to be anonymous and giving KYC for everything you do is really against the basic ethics of cryptos. But with inclusions of govt. into exchange working has forced them to add the KYC feature otherwise govt. will have to scrutinize such exchanges. So we all are forced to do this or just go in dormancy.
I think you have never visited the dark web. The ids that you give to such ICO or bounties are usually found for sale at very affordable prices of 5-10$ and such ids are used for illegal activities which can land you in problem some day.

For those people who arent aware on the risk then this do explain on the possible things happen underground which informations being sent out into those people can be potentially be sold for some price.This is  even myself wont really easily comply with KYC process due to such risk and it sucks on how these regulations gradually scattered to be implemented.I do understand on what OP do feel about this situation which do really opposes cryptocurrency main point.

KYC is just extra work for companies and ICOs. Do they have a document/ information verification technology, to verify if the documents are original/ real or just photoshoped?

They are just keeping the Copy of docks. and information submitted by customers to show that we are in full compliance with KYC  ??
 

KYC is logical and required field of progression. It depends on the regulations and saves from the fraud.

I believe that there is nothing to be scared or worry of if we have nothing to hide and we are earning crypto in a clean manner. In my own understanding, KYC is required to ensure that the people that we are dealing with are legally living in a certain country and not criminals. This is also one way to prevent money laundering. We always wanted freedom, but sometimes too much freedom would result to abuse. But anyway, if you are doing everything legally then there is nothing to worry about.

I think it is a legal process to identify a person who is purchase/sale from digital voilet. In the digital technology there are many loopholes to break check points thats way it is very necessary for secure transction.

I'm not a newbie, but I have no idea what KYC is, could somebody explain me what the point about? Thanks.

KYC (Know Your Client), one way of verifying their clients, so its either trading exchanges or gambling sites implementing it. One reason why we hate KYC is that crypto is supposedly (psuedo)anonymous and enforcing KYC defeats the whole purpose of decentralization. In the case of trading platforms, to be able to withdraw funds, you need to submit personal information, so they are acting like a banks now. As much as we don't like it, looks like its slowly happening and governments are really putting a lot of pressure on most exchanges now. Maybe one day we will everyone really requiring us to submit documents which is quite scary.

Good for you if you have nothing to worry about and have no problem exposing all your private information to unknown entities on the internet.
But most people joined crypto to avoid this kind of stuff, the fact that people freely give away their personal information (like you say you have no problem with it) is what has made it become this bad.

are you not happy of having KYC meaning slowly authority is in the process of of adoption and study how to regulate cryptos, in that case maybe someday mass adoption of cryptocurrency occur.

this system is a system that is advocated by many projects and exchanges in the world of crypto today, and I am not worried about this all because I am clean from criminal acts only I hope that third parties who handle the KYC system must be really reliable that can keep their data because the one in kwatirkan friends here is their personal data fear in the use of things that are not good

It is not their fault. It is the law. Fortunately if we all get off our asses and demand change it will happen. Unfortunately, I see more ass sitting than ever. What you need to do cut the cord. Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.

It can be deadly to participate in KYC procedure. Imagine that the information that you are actively working in the crypto-currency sphere will get to the gangsters... What will happen?

I like the old school mentality man, I wish more people here were like you. People have always been focused on fiat, but it only becomes worse due to the massive influx of newbies only looking to bank on crypto. For them a profit is only profit if they end up with more fiat in the end. They will have to expose themselves to all these regulations, and they will also keep complaining until they finally let go of that hunger for fiat profits. I too add more value to just hold my coins or to spend them in case there is something that I need. Great benefit of spending coins, at least for me (not sure about other countries), is that I can bypass tax restrictions legally. I buy with Bitcoin what I want, and then use fiat to buy back the same amount of coins that I spent.

That's right, bounty participants should not have to pass because they are not customers and do not need to sign up to their website. And even more annoying if KYC is needed at the end of the campaign for bounty participants while they do not announce at the start of the campaign.

Simple and precise suggestion but we do know the fact that there are lots of people would really make such transaction where they do need to convert crypto to fiat due to common reasons.Exchangers would really need to comply government rules if they would like to exist, if they oppose then they wont be operational where same as you said its not their fault but the it would really be the law which do being implemented.If you dont like KYC then you would really be forced to adopt it if you dont have any choices left.

KYC, AML and CFT are necessary to protect the firm from not engaging in illegal activities and protect them from lawsuits

I agree with this post wholeheartedly. It is sad to see that many newcomers  only get into Bitcoin, because they hope
to realize some fiat gains. It would be much better for everyone if more people joined the Bitcoin community
that actually care about the project as an alternative to the current central banking system.

Maybe a prolonged bear market will shake out the people, who only looked for easy gains and will
ultimately lead to a healthier Bitcoin community.

Well, I see it as the right thing to do just like banks does whenever you want withdraw your money which you deposit with them they will start asking you for your mode of identity of which they will not ask any time you are depositing the money.

I totally agree, crypto supposed to be anonymous, we are sick of being controlled and supervised by everyone, crypto supposwd to be giving us freedom to used and to store, kyc is just some excuse to weaken the crypto and we don't know how secure the data will be, its dangerous to submit our data to something that we are not familiar, so I am against kyc, and not all casino require kyc to withdraw try to play in bustadice, no kyc or whatever document is require to withdraw

If you have a clear conscience, why fear KYC? There is reason why ICOs do it, and it is because of the law and the rules in their jurisdiction. As cryptocurrency are getting readily adopted by the world, be ready for regulatory measures such as KYC / AML checks.

KYC required or probably mandatory because this is main term from the particular countries if some people want to create ICO project so we can't avoid it if we want to be parts of them but ICO with KYC will not guarantee those projects will be successfully even if they are scam i fear they will abusing investors data but for me it's simple that if you does not liked KYC system then avoid them because out there still there are plenty of ICO project which is KYC not required

Whether we like it or not and time to time crypto will become legalized and KYC is the requirements in order to lessen possible scam or shady behavior. Bitcoin only can still anonymous, avoiding this KYC from many ICO project is right is another option but for me, there's nothing wrong with this KYC. We have a different perception of KYC implementation.

Thank you very much for explaining! I think su h politic will come to in the end of every year we will get a bill of tax for digital profit and we won't be able to run away from that.

Since when are bitcoin gambling sites considered money transmitters for the purposes of AML/KYC? I'm not aware of any new enforcement actions or precedents that specify that.

I have noticed over the past 9-12 months that some casinos and sportsbooks have reportedly begun enforcing KYC, and in some cases the changes have coincided with allegations of insolvency or scamming.

I'm not saying it's not the law -- but I'm not sure that it is. And it's quite convenient that these sites can lock up people's funds over it.


If you deposit and withdraw only bitcoins from a casino, there is no switching between fiat and crypto. Yet, here we are.... :-\

There's even a US bill in circulation that wants to make bitcoin mixers AML/KYC compliant by defining them as banks.

Governments have definitely lost all sense. It's almost hilarious. If they actually try to make them AML/KYC compliant, they can just go ahead and prohibit them entirely, because that would make mixers lose their purpose of existence. In both cases mixers will decentralize their process entirely, so there is nothing lost in the end for people (I'm part of them) actually looking to obtain an extra layer of privacy.

It is however to be expected though. They already started with focusing on how they can get rid of coins that are focused on providing anonymity, and it is pretty foolish to think that they won't be going after mixers. It might have actually forced Bitmixer to shut down, because there is no way they would ever stop a more than successful and appreciated business in this community, especially in times where these shitty AML/KYC procedures start to become a normal thing.

They're just fighting the multi-account users and other adventurers that way, too much people are trying making easy-money on cryptocurrency turning the whole idea into a useless trash. I don't like KYC either but it's logical thing

For me it much better to announce the kyc system at the beginning of campaign to avoid what ever unnecessarily thoughts such as the manager is corrupt, the group who manage the campaign are corrupt because if they not want to corrupt the token they should warn the bounty participants at the beginning in order to decide to to participate or not.

You can even apply for a loan on some of our countries government agencies with just a single valid ID. You will only know this when you needed the money.

I suggest/want for there will be a decentralized way also of verifying your identity that the government will rely on.

Now this test of KYC is already being applied where necessary, and where it is not necessary. Do you think that it should be used? Imagine, you go to a cafe to have a cup of coffee, and they say: you need to pass before this KYC check, fill in the appropriate form and attach a copy of your passport. Do not you think this is absurd?

KYC should be used in individual cases, where very large amounts of money are invested and only specially by authorized bodies. Obtain an audit of KYC teams ICO, which themselves in 30-50 cases are fraudsters, this is a great stupidity. Either this process needs to be regulated and granted such rights, but for investors who invest heavily, not $ 100-500, or the ICO team should not have that right.

There is really nothing that can be done about it and I see it taking more aggressive approach in years to come and the earlier we start adjusting for it, the better when it gets to the point where it cannot be avoided. Government will continue to have legitimacy because they would claim they are protecting us from fraudulent activities that have pervaded the entire industry courtesy participants in the market too.

I understand your fact but there are reasons behind asking for KYC documents.  A simple example is,  few countries do not accept crypto currencies and thus the ICOs make sure that their tokens are not sold to citizens of the concerned countries. So just follow up the steps you are required to do when asked for. This would enhance your good attitude, but be aware of whom you are handing over your documents. There are chances for wrong involvement. Just spend time in finding out the legit ICOs and hand over if you trust.

Instead of adjusting to all these measures, people are far better off decentralizing the way they work within this ecosystem. It's not for nothing that all these measures forced people to local markets.

It might even result in a scenario where developments concerning decentralized applications to experience a massive speed boost with how the demand for them is peaking consistently. People are tired of all this.

If people keep accepting all these measures, they will only simulate the authorities to keep coming up with even stricter regulations. Their mentality has always been to keep working on things not offering any resistance.

This is the trend now, and we cannot stop the government from making regulations about cryptocurrency.
Well, KYC is done just mostly in ICO just to make sure you are qualified to invest on their project so they will not encounter any problem in the future same thing with bounty campaign. Being anonymous is not a real thing now, we have to admit it.

THat's what the government wants you to think. They want you to feel safe, give all information on request, let others handle your problems. But this usually ends up biting people in the ass once the government that was supposed to be the protector becomes the oppressor. Just go to youtube and check videos of police officers arresting and beating up people for nothing more but filming them. The less information about you they have the safer you should feel.

It is true that know your customer policies are created as a way to weaken cryptocurrencies in general and while that may have an effect right now that the amount of people that have adopted cryptocurrencies is low this is going to change once that number is high, since how are they going to force that you identify yourself for every single transaction that you make when there are so many businesses and people accepting bitcoin, at that point we will choose the business that do not force us to go through KYC.

But aren't they?
They take one form of payment/money and send back (if  ;D) another form of money.

It's all about what law they want to follow and if they want to follow it.

If those websites want to be legal all over the globe, then they will have to follow them, nobody is forcing them to do so. They could start and block all customers from certain countries and be done with that.
All gambling sites in UK, for example, comply with KYC requirements.

And about that wave of "insolvency" those where sites that had a shady background, involved in dirty schemes and when they felt the game is getting too hot for them they decided to get "hacked".  ;D.
The funds getting locked is most of the times an excuse for not paying, not because they are required to do so, just like in the case of that Indian exchange where they've asked for the tax returns.

Move to some place with no government regulations that doesn't give a shit about protecting its citizens against fraud or money laundering if you don't like KYC. Or use dodgy casinos and ICOs that don't require any sort of verification but don't cry when they scam you or go under and you're left out of pocket. Do you really think most govs are just going to sit back and let people evade taxes by using crypto?

Are you want to tell your identity to all people so people who you do not know can track you down without being expect ?

Giving KYC means that you're giving your privacy to public so you must think twice before do it or you will regret forever

not all bounty require KYC for their payment. I only get 2 projects that use KYC for the bounty payment. though it sucks. but their goals are not bad

Now in all the fields they require kyc because there are so many illegal activities now happened. To avoid that they requrie kyc. This is applicable for bitcoin also, because while you transfer bitcoin money to your account you need to give your documents. Then only they know the transaction is for legal person or illegal person. So there is nothing to worry about to give your documents.

True KYC is important

It depends on where and why KYC is needed. KYC is requested to know if the coins are purchased by the people those who are denyed to buy the coins. Few countries do not accept bitcoin and other crypto curenceis as they might have been cheated or annoyed by people who might have sold coins. The governments in order to take action, they deny in accepting the new coins into the resepctive countries.

I don't agree with KYC too especially if you are a bounty hunter but in exchange if it is required then it is fine for as long as they would protect our funds too, and that they are liable if something happened to my fund, KYC is good at some point but not so good in other things.

What I'm talking about specifically is businesses who take deposits and payout withdraws in BTC, for the purposes of gambling. I'm not convinced that these businesses are money transmitters, so I'm unsure where the KYC requirements emerge from.


Sure, I can understand if a site wants to go "fully legit" in an attempt to appease regulators. This is the approach of Coinbase and Gemini. But as you point out, I also suspect that some casinos, ICOs, etc. are using this trend as a way to withhold rightful payments.

KYC is important for all account user under an specific project, like when you loss your password then you can retrieve it using your information and give only the exact info you provided during the application of your KYC specially if this account involve keep safteying your money, but on bounty or airdrop? I don't think so.

Because like it or not the bankers rule the world, no matter where you live that invisible hand is at work to control you and that control is exercised through your dependence to purchase necessities of life. It is an insidious plan that has been ongoing for over a century and is only now showing it's full power world wide. Only by standing together will the world's populous be able to not become faceless numbers on a governmental ledger (whether blockchain or not).

They want to do this to you.

https://qph.fs.quoracdn.net/main-qimg-7fdcf2dd8bd093f445027e362ead50b7-c

A BTC address will work just fine for them.

KYC full form is "Know Your Customer"
 
It is a legal process in which background team or any company identify the person who behind the bitcoin.

I don't have any problem with KYC infect I'm happy with this process.

This reminds me of people thinking that because they use exchanges and online wallets instead of banks, they can escape from all this controlling and marking. They don't realize that centralized exchanges and online wallets are not much different from banks controlling their wealth. It's mind boggling how people here aren't able to figure it out themselves. The only way to deal with everything that's centralized is that we need to stop using exchanges and everything else, even if we have to sacrifice all the convenience centralized services might offer. I am however glad that there are some pretty decent movements happening when it comes to building a decentralized economy. The more governments keep pushing, the more developments the decentralized economy will go through.

I've been waiting for it.

https://bitcointalk.org/index.php?topic=2659247.0

https://bitcointalk.org/index.php?topic=4400856.0

edited: I read that wrong...Doh. :)

I absolutely hate KYC. It's dumb security theater. It goes against everything crypto stands for and gives identity thieves opportunities to steal your data.

It doesn't.

You have to understand that there is a major difference between the centralized and decentralized aspect of this market. The decentralized part will always remain unaffected and will always allow you to bypass these measures. The centralized part of this market is where everything starts to become very interesting, because this part is the only thing authorities can control, and for that reason they will choke it with regulations in every possible way till they feel somewhat comfortable.

The choice is and will always be open for you to be made. No one can force you to do anything you don't want. People just need to remain realistic and accept that the centralized market comes with drastic measures, and that they aren't against crypto at all. Regulations are there because this market has been maturing rapidly. People want massive growth and mainstream reach, well, this is what's needed. Crypto is no longer mainly a niche thingy. :)

It certainly does give identity thieves opportunities to steal your data. And these days even if you don't want to touch fiat you may still have to do KYC if you want to use a casino or buy an ICO. None of these activities involve fiat yet KYC is still being done.

There's way too many people that have a slave mentality and think it's ok to give up your right to privacy despite the ICCPR stating that a right to privacy is a basic human right.

Not using KYC also gives thieves an opportunity to use your stolen data. Anyone could use your name and address otherwise. Do you think we should get rid of such things as KYC laws and just let criminals evade taxes and launder their money freely by creating bank and exchange accounts under fake names and addresses? If people are so paranoid or against institutions who implement KYC then just don't use them and sell your coins for cash on the street to some random guy you found online (what are the chances you'll just get robbed?). If you're such an anarchist that you don't even believe in cash then swap your coins for other goods and services directly instead. I get the feeling most people here aren't really anarchists but are just lazy or want to get away with not paying taxes etc. If that is the case then just don't use exchanges. Their fees are a rip off any way.

Wow this is such a nonsense comment. Another person with a slave mentality. How is "not using KYC" giving the thieves an opportunity to using "my" stolen data? If I don't submit KYC documentation (passport, utility bill, etc) then THERE'S NO DATA TO STEAL. Use your head before you post.
 
Also I don't care about tax evasion. It's a total manufactured crime where the "victim" is the government that is shaking people down for their hard earned money. It's not comparable to real crimes like murder, kidnapping, or rape yet the penalties can be just as heavy! This is such a non libertarian worldview that it honestly surprised me a guy with a legendary posting history would see things that way. Stop being a sheep man! Wake the fuck up and stop giving government thugs the benefit of the doubt.

Also money laundering laws are incredibly vague and ill defined and can be used alongside a tax evasion charge to nail you twice for the same non violent "crime" of not paying your taxes. Money laundering laws are also often used as a catch all "guilty until proven innocent" law (After all without proper paperwork you are presumed guilty) when the government is unable to pin the actual crime on somebody in order to coerce a guilty plea. Rarely are money laundering laws used how they were originally intended to be used: To stop terrorism and other crimes that harm real people rather than faceless governments who just thirst for more power.

Nobody knows your details if you don't use KYC? What about everywhere else that has your data? Your mobile phone. Your internet. Your banking. Your Subway loyalty card. Are you a ghost? Data gets stolen (often without you knowing it) from everywhere and then anyone can use it. Have you ever had mail sent to your house? Then the postman knows your name and address. Ever used a debit card? Then anyone who works for visa knows your details and anyone you hand your card over to can copy it. If there's no checks and all it takes is a name and address it becomes much easier for anyone to use these details. Anyone who sends you something you bought off ebay could just use your name and address to sign up with an exchange account. You think this should be ok? I really doubt you're so off the grid even satoshi would be impressed.
 

The crime is against society. If you don't like the laws of that country then you are free to leave. Tax evasion might not be comparable to rape and murder but that's irrelevant. We live in a society where everyone is meant to chip in what they can afford so that everyone benefits. Do I think taxes should be spent on wars and furnishing politicians homes? No. But I believe in roads and hospitals and emergency services. I would have respect for you if you're a true anarchist but you're probably not. What I don't have respect for is people who use all the services that their country provides but don't want to contribute to paying that under the guise of the government is criminal. You probably also do the same thing as all these "sheep" and "slaves" you condemn do: go to work, pay taxes, use government services by day, but by night you're sticking it to the man in any little way you can on a bitcoin forum. If you feel like that move to a tax heaven and pay nothing legally and then you can be a real anarchist.

The last box is usually your average anarchist these days:

https://images3.memedroid.com/images/UPLOADED229/59507e87a502d.jpeg


Then move to a country that doesn't have them. I really doubt you would live in a country that has no sorts of laws and regulations and everyone just fended for themselves. People are quick to complain about this stuff from their iPads and the comfort of their own home in the West but aren't really willing to do anything about it other than complain about taxes on the internet. These laws are meant to protect people and curb organized crime, but I agree they shouldn't be abused in the ways you describe, but should we do away with all government laws, regulations and taxes? Lets get rid of building regulations and the police. When a building falls down due to shoddy work and there's no law or police to enforce it who is going to be held accountable? That's the sort of country you would live in where infrastructure collapses and lawlessness exists and crimes go unpunished, and there are plenty of countries like this, but I can assure you they're not very nice places to live in.

Just because I think certain regulations are helpful to a safe society doesn't make me a sheep. I could just as easily argue the real sheep are the people who just parrot that government and taxes are bad without actually offering any viable alternatives whilst simultaneously benefiting from the society and government they condemn.  

I could tell you post was bullshit by the second "always" here's a hint, there are no absolutes in this world.

I hope you really don't believe that bolded part, because if you do your either living in a bubble or a fantasy world.


+M for u.


Enjoying your supporting arguments, just thought I'd let you know. :)

https://bitcointalk.org/index.php?topic=4400856.msg39163811#msg39163811

It's a bit frustation but when they require us to give KYC means that they are need something that act as collateral because they may experience many scam at past so they want to prevent bad things in the future.
Personally, I will give my KYC only if I trust the project 100% !

I don't hand over passports and other sensitive info to strangers online because they could be seriously abused and could be used to open things under my name without me realizing it. Yeah I use a debit card. It's a prepaid debit card, therefore no nobody has my real name on it. When I order things off ebay I use an virtual office address and pick up my packages this way.

If there's no checks then people would just make up aliases and pick any address they want if the exchange were to even ask for an address. At that point I doubt an exchange would even bother asking for an address especially if it deals only with crypto and not fiat since there's no way to verify it. That's significantly less bad than having a copy of your passport floating around the Dark Web and we both know it. But you don't want to concede defeat so you're just babbling.
 


Ahh yes the "if you don't like it, leave" fallacy. And no it's a crime against the State not against society. How does fighting a war in Iraq benefit society? A large amount of US tax dollars go into the military industrial complex for example and it has nothing to do with defense.

https://en.wikipedia.org/wiki/Ergo_decedo
 
I already did leave though people shouldn't have to be forced to move just because they disagree with how a State functions. I moved from the EU to Asia. The tax system is definitely an improvement. It's not perfect, but I really like it here.

Thanks man! I appreciate it!

If I followed your logic I wouldn't give my information to anyone because I only trust myself 100%, even my wife would get 99%, and an online project launched by someone who I didn't even meet in person would be at 50% tops.


A bank can't compare to a coin exchange or an ICO. I had to set up a bank account even before I was 18 because this was the only way to get a job or receive scholarship. You have to do it or you won't be getting any money, ever. That's how the modern society is built. So, I didn't want to be a poor hermit all my life gathering berries and begging for money, I went to a bank and gave them my information.
This doesn't mean that I have to share this information with random people in the Internet. You can allow one or two companies to have your data and be completely fine. Start giving it away online and you'll get into trouble sooner or later and when that happens you won't even be able to tell who sold you. I feel rather safe knowing that if someone steals my identity it had to be the bank, or some other government institution, because nobody else has it. How about you?

There are really cases which is exceptional where we do really risk out or considered to give out our own information if we do see its really worth to do such thing.KYC on ICO do still need research if its legit or not, KYC for gambling sites its a NO for me and other related stuff when it comes to KYC do depends on the situation.


We do really only trust ourselves 100% and i do laugh out when your wife do have 99%, wheres that 1% goes?  :)

Great points. I 100% agree with you.

Having KYC is not bad since you have to provide some information about you, but some are eve requiring proof of bill that is in your name, how does even student can give such document for electric bill and they are still living with their parent.
Then some are even asking for passport and don't considered a national or government issued ID are you applying for immigration? Some project seems to be stupid if they even asking for police clearance with ID picture, looks like we are applying for loan.

No amount of KYC is good and the police clearance is INSANE. Not even banks ask for this info. Sounds like an excuse to just not pay people.

Sad thing is that, we cannot stop this KYC because some exchanges are now required by the government for this kind of information. Though I don't see any reason why do you need to fill up a KYC form for an airdrop, its quiet smell fishy if those airdrops asked for you to fill up the KYC form, be careful on this.

Yeah this is true that some exchanges are required by the government to do it IF they handle FIAT since many governments require a money changer license for that.

I 99% agree. :)

Can i put up 101%?  8)

By the way, even we do insist or not tend to give out informations online but still we already done such thing where it has being mentioned even just as simple with our bank informations they do already possess out our personal informations which even those institutions we arent still sure if we can assure those informations given would really be on safe side or wont really be used into other purpose.The thing differentiates when it comes to online is on how fast they do spread out.

Then do not join Bitcoin trading and investments as you think KYC is not good for you. If you prefer to always gambling because there is no KYC then good luck because its up to you but i could say no one complaining because of mistaken identity that their profiles was used in illegal activities after they past the KYC requirements. For me, as long as you and the ICO are both legit then therefore there is nothing wrong with the KYC.

It's a good point to mention that "the whole point of crypto is to stay anonymous" (even though that's actually not the whole point). If you truly believe your goal is to stay anonymous, then you should be looking for more decentralized options. Using decentralized exchanges or P2P exchanges. Or supporting projects that don't infringe on your rights.

You should remember that you're not forced to participate in these programs requiring KYC, and that if you do want to participate, you have to respect their wishes to be compliant within their respective jurisdictions.

Even if this currencies are built with functions of being anonymous the companies, services, people accepting it are not. Everyone earning money is in fact is still liable to pay their taxes. Even if he or she is earning cryptocurrencies it does not make them exempted in their income taxes. Also this establishments are required to abide with the law and if the government ask then to require KYC they don't have any choice to require or else they would be put down. You must understand that cryptocurrencies cannot remain anonymous forever.

How could you say that you are not giving any personal information to KYC if it have a huge payment ahead of you.

I'm trying to be wise I know it has risk for giving out your personal information for once, but it has a huge profit ill probably fill up a KYC form.

And how the fuck do you have bounty campaign if you are just a newbie. So this is your Alt account right ?

KYC is much to have information of user, this process prevent the money laundry. KYC is good if the if the organization is reputable and keeps your information confidential. But it would be a problem if you provided information for fake projects, they could sell your personal data to others.

It depends on the ICOs and individuals dude. When KYC is asked by a legit ICO, its worth giving out for goods. When you think that the is not a legit ICO and is asking for documentations, Kindly consider before giving out. KYC is usually asked when few govts do not accept crypto currencies and have set rules as any ICOs should not influence or draw their citizens towards them to invest in. So the ICOs in order to make sure that deal with investors other than the ones prohibited, they ask for KYC. Just understand it mate.

So if you have a clear conscience and are a good person, you should have no problem handing out your private information to others?
You're implying that people who are against this or do not want to this would have something to hide.

That's the problem right there. Absolute vast majority of ICOs are created by newly created organisations with no track record. And even if you consider them legit (i.e. because of non-anonymous, trusted devs), you still don't know how and who will be dealing with your personal documents. High-volume account verification and processing of docs is likely to be done by entry level, low-paid staff, so the risk of rogue employee mishandling/stealing/selling your personal info can be pretty high.

It's best practice for the newly formed organisations, or small companies to outsource verification process to more established, specialised entities.

This is the point. How to solve this problem? even they do not attach their company's legality documents to the website (such as the way they requested KYC). If the reason for KYC is only for a security of scam, who is more likely to do that? They or us? They get our identity, we get nothing.

I think if you want to get profit you have to accept the risky. KYC is risky, too. Why you accept to do their KYC ? Because you want to buy the ICO and get free coin for airdrop, bounty, ... and expect a highly profit reward. So you have to the risk to showing your personal data.
Before do KYC please think is it worth to provide the personal data? It's OK If KYC for reputation exchange platforms like Bitfinex, Coinbase,...or big ICOs will bring highly profit return. Show personal data for airdrop or shit ICOs doesn't worth.

Yes, cryptos made to be anonymous, but we just have to play by new KYC rules if we want to stay. I also do not like new politic, but I registered on the exchanger that I use long time ago and they do not ask for any private info from old users. For me it's more important - can they guarantee safety of our info?

KYC is BS.

People need to wake up and stop blindly trusting their governments.

I think KYC is not bad thing for bounty & token sale because some bad people always try to spamming in everywhere.KYC just helping to identify fraud people i think it's more effective.But i support KYC only for if it look like legitimate project.

I do not think so.
I do not think KYC is childish
It does not matter.
Why pay attention to KYC do?
Just a form of identity verification

Now most of the people don't know the KYC (Know Your Costume). Most of the process ask the people KYC document. So don't share the your KYC other person. If need to send for some process. First check the website. Then send it. Nowadays toke sell it will be ask for the KYC document. If you know it trust one. Then send it and complete the process. Finance and most of the complete get the people KYC document. If apply any loan KYC important. So KYC in careful to use. KYC is your personal information. So safely share.   

Now this is something new. In a way you are right, you should know your costume. You wouldn't want to end up like that poor fat batman. ;D

http://www.lolpix.com/_pics/Funny_Pictures_579/Funny_Pictures_5799.jpg


How does KYC help reduce spam? :D You guys are writing so much bullshit in these threads.
You would want every single bounty manager to know who you are because you might end up being a spammer? And what is he going to do with your ID once you start spamming? Send you a letter of complaint?

If you can’t or don’t like to pass kyc I will do it. Please write me for more information pm.

Kyc is quite complicated, I do not like this situation very much, because it can be dangerous. I do not understand why to do this.

Checking KYC does not guarantee anything to anyone. I still understand the introduction of such a check on stock exchanges and exchangers in excess of any minimum transaction size. However, tell me who came up with the right to carry out such a check to the ICO teams, who in almost half the cases themselves are fraudsters themselves and do not pass any checks at all? Is this a mockery of the crypto currency and deliberate discrediting it, then to show how risky this activity is? Now many fraudulent ICO teams are running away, not only with the millions of dollars collected by investors,
but also with their personal data. Who here guarantees what? This is utterly absurd.

Well said man. The number of sheep out there is insane.

Cryptocurrencies can be used anonymously now. But this feature ends after you use Fiat exchange operations. It is not surprising that banks and governments require personal information. I think that will pass few years and such demands will everywhere. Even if you do not provide any data about yourself, you can always be tracked by transactions in the blockchain.

I have no problems with KYC. These are just limitations of fraud.

am on your sideon this one get free token with no kyc https://www.bidium.io/ref/opeyemijayeoba321

Well ... I am also wondering whether the application of KYC in cryptocurrency is correct. Because I was very hesitant when trying to provide information my personal data, because I was afraid if my personal data can be used for negative things by irresponsible parties.

This is the risk thats why it do really sucks out because on investors side theres no assurance on how we would able to recover it up not only on the funds stolen but also into the informations accumulated by them. KYC is bullshit yet this is contrary on the actual theme of crypto but somehow having these verifications do put some confidence on some investors because they do saw project is looking forward to avoid frauds but not totally and assured thing.

Its risk taking giving out the personal documents to an unknown person. None can be trusted. But there are legit ICOs who do ask for documents. Here yes we can handover trusting on the projects they have taken over, read the road map, white paper, budget allocated, team members profile and etc will determine the legit ICOs. Few countries do not entertain ICO into their countries as their citizens have been cheated and it realy affected the economy. This is the main reason ICOs request for KYC.

Once the Internet is available, you cannot rely on the confidentiality of your personal data. Without providing this data, you do not know where it will be stored and who will have access to it. For example, you trust the banks? Any Bank clerk has access to accounts and customer data. The human factor is everywhere.

This environment "ought" to be anonymous as you rightly pointed out. Yes, anonymous for humans. It was not meant for robots. Most kyc is to remove robots from participation. Also, cheats use multiple accounts. With kyc, it is in keeping to one man one account.

I don't usually answer to the old posts but I want to say that this right which have us,bitcoin holders  is not unlimited,If there are legitimate,proportional  basis and purposes from investigative authorities they can make  pseudoanonymous  cryptocurrencies anonymous to protect another legal right,So they have constitutional right which also may be part of the international agreements.What about KYC I think its not a bullshit if creators use it properly and if they don't use it for their bad aims.

Agreed! Even when using the social media, we are.already exposing a little of our information.
Everyone knows how much of burden the KYC has given to us. But, on the brighter side, KYC procedures can protect investors and ICO's from illegal activities. Only thing that bothers us is, we are giving out our essential information over to someone we dont know and the risks of your identity to be stolen is high.

If you believe that the current project is promising than it's ok to give your kyc because every projects getting evolve to provide giving services.
I'm under that crypto must stay anonymous but it's your choice whenever you still want to involve crypto project or not

KYC, AML and CFT are a way for companies to protect themselves from legal consequences. If the company engages in AML by selling tokens to the wrong person the company could be shut down, so they need to prove where funds are coming from and who has contributed or received tokens.

This is true as govt of that country may ask them to provide the proof to the people they have sold the coins and their identity so it compulsory for them to have it. But on the other hand investor may not know how their data can be misused like how FB has done and violated the rules by leaking the data and thus if investors feel its not secure or do not know about that ICO or exchange where KYC needs to be done then kindly ignore it and do not submit the KYC.

A meritful post. :)

I do not actually understand the real reason of it until now. I mean I understand if it is only for the investors but asking even the bounty hunters is very funny. However the problem is we do not have a choice if we want to get the opportunity of making money.

Have you had any problems with the fact that you transferred your confidential data to potential fraudsters from the ICO team? Then you can still be ahead. You are still lucky. However, these problems can still appear in a few years. A big problem may arise or not, depends on whether you live in a police state, or in a more or less civilized state. But while I will not frighten you. However, my advice is not to send your confidential data to unknown people who you will not know where to look, if something happens and when it will be necessary to logically explain how the criminals could learn your details in such detail and whether you are related to them.

Also sites often get hacked and there's no way to expect all to be well with ones personal information in the hand of a hacker. The governments have simply been looking for ways to break and subdue Bitcoin and flexing the hands of operators with threat of a ban or withdrawal of license should they fail to implement KYC!

You don't have problem with KYC? lol and you have nothing to fear? Wait unless you are a victim of identity theft. Once you join an scammy shitty ICO, the developers will not only scam your money, but will also sell your identity to someone else for extra money or use your identity for committing illegal activities. You have to fear about lot of things when handing out your information to some strangers.

The cryptocurrency system is still anonymous and people still dont know who are they transacting with. Gambling sites or other sites including wallet is different. They have to know who they serve for for security purposes. They also need those identity for your account to be unique and no other people could access.

Chillout man. They are just doing that stuff because they're following the laws to make sure that their project has no problems in the future.

Thank you :) I am just being fair and not being on a one sided opinion regarding these KYC procedures, which has caused the other investors to become disappointed with these implementation.

I agree that it's a trend, since crypto is money, and money is supposed to have regulations to prevent illegal activities. If you don't want to give out your information, then don't. You won't lose anything except the opportunity, the same applies to the everyone, and KYC doesn't guarantee a projects success anyway. The point of crypto is to be like cash, but electronically and without having to go through banks.

To avoid illegal use of money they need kyc, there is nothing wrong to produce your documents. Because nowadays kyc is needed in all fields. Normally banks need kyc from their customer. Your fear is correct but qe have to check that we can give the documents to right person or not. We have clearly check really they need kyc for good  purpose then it will be ok to produce. Otherwise if you had a doubt dont give.

Yeah, same here I still do not understand why are required to give our KYC even in bounty hunters , it is taking risk to people here like giving our information and there is a big possibility that they will used it in illegality or criminal acts.

This is the biggest problem in KYC that you can not be sure when you send your documents to KYC, so that scammers do not reach them and do not use them for their own purposes

I do not quite understand how KYC can be useful to customers, it is more likely to be more useful for companies.

If it's a legit ICO I would better hand over my documents to them.  Study and analyze the ICO and hand over the ICO the documents. ICO's details like, road map, white papers, investment amount, infrastructure, team members and their profiles would detail you of a legit and non legit ICOs. If you have been following the ICO for few months, you would be made sure of giving KYC to them or not.

i have an account with Nitrogen but i dont know how to go abt their betting sysytem

I think KYC is good sign for every people because without KYC we can not identify fake people in crypto world.

Because scams and frauds multiply and we need some changes for us to move on and put everything into places. Now , if the site requires KYC and its a part of their regulation, if you do not want to obey them , then better find something without requiring your information. Withdrawing money absolutely needs personal information for security, what do you expect?

Right. When you are on right move with legit ICOs, then no fall back in giving them the personal documents required to verify your identity. It is indeed needed when so many fraudulent activities are easily taken upon using our personal information shared. So be more aware of giving out your personal documents to anyone. If the documents are required for the right purpose, then don't hesitate giving out them.

the presence of kyc is very helpful when a country wants to regulate the movement of crypto in the country to avoid things that are not in want like theft or others because the kyc does not harm and even protect us as users of crypto and I strongly support this activity.

I strongly disagree with you. The objective of KYC is only one. Take part of your cryptocurrency from you as taxes. Unfair exchanges use the KYC in order to freeze your account and steal your coins. All cryptocurrency transactions can be traced. In order to protect yourself from hacking it was enough to agree among themselves all the exchanges and wallets on the withdrawal of such funds.

Are you sure that your advice is really correct? You can't determine 100% the true goals of the ICO creators. Maybe they want to take over not only your money but also your personal data. No one is immune from this threat. It seems to me that it is impossible to call any data personal now. Know two-knows pig.

Once you had already submitted on the documents that had been asked then you are already at risk on where those informations can really be used into other purposes or would be sell out which we cant really be sure that each project dont have any other plans for those informations that had been collected and also we do know not all projects turns out to be successful in the end which means anytime they do really have our data and once they do have it we cant really able to take it  back.

I think it is also an issue because the cryptocurrency is a non disclosure financial system and KYC is just contrary to it goal.  With KYC, you expose your information and data to the public through that exchange. I think regulations should leave out the aspect of disclosure but to regulate the exchanges.

..kyc now is the process that you will undergo to be enable to participate in some bounty and icos..i agree with you..it is your personal information that you will never give to somebody for it is your privacy to keep your information safe..i donnot like also the kyc because i dont want to give my personal information..but still it is indeed a process that you should do..some bounties and icos do this to prevent malicious attck and to secure there token and to have a fast track on their customers..just try to avoid and do not participate on bounties and icos that need kyc..so that your info will not become viewablr to the public..

Info not really like kyc, I hate this so much since it started until now but my problem is I don't have a choice, the more I resist it the more I create more steps away from the good ICOs which is profit is 100% possible.
The question now is this,;
If we don't like kyc, how can we stop it if the situation is in favor to this new implementation in crypto world?

We like it or not, we need to follow the jurisdiction of each country. They say it is because of the possibility of money laundering that has been going on but I believe that fiat has 100x more money laundering cases than crypto but we can't really do about it. Just think about that we are giving an impression to other people that we are also against crime when we agreed to KYC.