Bitcoin Forum

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?

actually these two aren't really connected to each other and they are not two opposite sides! and the funnier part is that most people who debate these things are not exactly debating over these two topics. for example a lot of those who are talking about regulations are are for it, are like that because they think regulations will shoot up the price or eliminate scams not knowing that regulation doesn't do either one of these things! and those who are against it are like that because they think if some exchange was regulated then their anonymity is at risk! whereas it is not true at all. they already don't have any anonymity when they  use a centralized exchange whether it is regulated or not.

Scams are possible mostly because people are greedy and jumps in without thinking. Full KYC could allow a new level of scams, like identity theft (just think: not all coin developers are very good).
Even anon coins do have the feature of auditing. Monero has something like view keys.

What I want to say is: KYC would not help and scams can be checked out even on anon coins with auditing.
So imho even the current "transparency" where everybody can see what's in your pocket is too much.

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.

Agreed, and I'm pretty sure KYC scams are already happening. You do see 'airdrops' that require KYC... it would be a very bad idea to hand over your valuable personal information in exchange for coins that are likely worth a couple of dollars at most. Unfortunately scammers can rely on the KYC requirement giving them a badge of legitimacy.

If you tend to choose anonymity, then scammers from cryptocurrency can not be eradicated.
If you choose the rules, including the passage of kyc, then most likely the scammers will look for other vulnerabilities, for example, stealing our personal data while passing kyc.
To come to something right, you first need to make out whether it will work.

blockchain is designed with privacy and there is nothing wrong without it. THe only problem that needs attention is the anonymity. As we all know that many users even here in the forum that because of anonymity they were encouraged to scam, hack, and do fraud to others. This is the real problem so if only anonymity will be remove by regulating the users of cryptocurrency then it would be better. This will minimize the hacking, scamming and doing fraud.

we will have regulations, and with them THE END OF ANONIMITY.

Why?¿ the main purpose for crypto was to create a DECENTRALIZED system where people could gain money without others knowing it. This lead to the main problem of crypto. The moment you use money from your bank, to gain money ASIDE OF THE SYSTEM,you take out money from a regulated market where the government controls every penny you earn, to migrate to a system where noone can know how much money you put in that market, and how much money you gain unless you want them to know it.

Regulations are going against anonimity, by forcing almost ALL EXCHANGES to share information with governments so that they can know exactly how much money you invest and how much money you earn with that to be able to apply taxes.

Taxation is the worst scenario possible for crypto, since it implies directly the end of anonimity. if they can charge you with taxes, there is no anonimity in the transactions, and the final steps of your bussiness.

summing up: regulations will force the end of anonimity. Banks, governments and public services need to control your money so that they can survive, because they live with your money. The more control, the more money for them.

And this is why this market is dead, and btw, it should die.

And that will remove the purpose of blockchain. But did you think the crypto is anonymity right now? Look at the fact that the centralized exchange site has been taking the main role and most of them have applied KYC and AML verification.

yes I think it's clear, that someone who does KYC for airdrop is very stupid just because they expect a small amount of dollars, in fact various ways of scamers in processing crypto make some people believe, actually it's very bad behind them and that certainly does not guarantee privacy security. but strangely they always hope from airdrop.

I vote for Anonymity. I agree that we have to fight with the scams, but it is because there is zero adoption, small market, after we pass this "adoption stage", there will be less scams and only high-quality projects will exist, these projectes will be selected by the community and managed by the community - that is true point of decentralization.

I think that the blockchain is a tool that allows you to do both. Perhaps with regard to speculative investments it's normal to expect some regulation, especially when the amounts grow. On the airdrop, on the other hand, I have many doubts.

I do not know if there will come a time that everything will be regulated.
I believe some will be regulated  while others will still remain anonymous.
Regulations usually apply to ICOs, not on bitcoin and other projects that didn't need to secure funding from the public.

Anonymity for transactions and regulation for exchanges that operates locally.

Many are subject against KYC because they are scared that their data will be hacked which is of a trend right now. Regulations strengthens the validity of exchanges and its users but it doesn't guarantee that prices will increase. People like to attest regulations because of the belief that it will increase prices.

Regulations should bring institutional investors, that is why people believe that regulations will help increase the price of cryptocurrencies. But I think, that regulations will decrease the volatility and is that good? No another 10x,100x in the future?  ;D

When I started in crypto, the one thing that attracted me is the anonymity of my transactions. doing trading and investing in ICO without disclosing my identity. But when the presence of scammers and their scam ICOs has been all over the marketplace, I felt, regulations would be a solution to this. Investors must somehow be protected also for the industry to thrive.

We need KYC just for ICO team, only this can help to avoid scum in ICO. What the difference who own utility tokens)? But all admins must show their faces)

I think that the project party initiated by ICO should be subject to government supervision, so that the scam will be avoided.

This has been a on-going debate for quite some time now. I guess crypto ecosystem will have to evolved one time or another. I think it has started already btw, so regulations and KYC will be the thing of the future for crypto, whether we like it or not, imho.

many people say the superiority of blockchain technology is because the anonymity of every user who makes a transaction is difficult to track but there are also negative points that can be misused to transact illegal trade and regulations are also important to avoid fraud because this is related to money especially investor confidence is starting to decline when investing with ico. this in my opinion is complementary to each other and I hope that regulations are prioritized to reduce the population of scamers.

you are wrong because the "idea" of the "blockchain technology" has nothing to do with decentralization or anonymity. the idea of blockchain technology is to use cryptography and to create a ledger that can create time-stamped documents and holds them which would be fraud proof since it is backed by the cryptography and can not be changed.

then we use it in cryptocurrencies which again do not have to be decentralized or anonymous!

so we have different categories. blockchain technology used elsewhere in different fields like a hospital storing patient data on a private centralized  ledger which has nothing to do with cryptocurrencies and has no tokens on it! and cryptocurrencies which can be centralized ones and decentralized ones.

I would probably want both, not that much of regulation but with better anonymity, i guess you can't have both but both of them got its own advantages and disadvantages, you can't really pick both.

Personally, it seems to me regulation will not give us what we would like, most likely on the contrary, regulation will make the market unacceptable for a large number of investors, so it is possible that anonymity is preferable!

The day you register your details into some centralized exchanges (which can sell/release your personal information to a third party e.g Government), that is the day you loose your anonymity , not the day some government regulations. Blockchains are pseudo-anonymous and centralized entities such as exchanges,some web forms where you have to input your name and wallet address, social media-linked wallets etc are all points of failure.

'Full kyc will make scams impossible' — not really true, scams also happen in regulated entities, although regulation will minimize them to some extent.

Anyway, most of scams in crypto happen due to users own less diligence.

In cryptomarket there are honest & dishonest projects too, what about honest projects which are launching airdrop or bounty campaign???? KYC will actually help all legitimate participants to get fair rewards from scammers. Automated bots might be able to submit online forms & join their TG community but they can not pass KYC?AML check. KYC/AML can be used as protective mechanism but we as a hunter or investors needs to be vigilant to find the legitimate projects. 

Regulation will decrease anonymity that's the counterpart of having it.

I'm optimistic with 10x in the future.

The main reason why blockchain should be based on privacy is avoiding situation when somebody who knows that you have money come to you and force you to transfer your crypto to him. It sounds pretty scary, but it would be the future if every blockchain project implements mandatory KYC process.

I think it's two-in-one. We need to be able to move anonymously in a regulated market. This regulation should not be too strict. It should be flexible structure suitable for decentralized applications.

Most scams related to cryptocurrency came from ICOs. Focus the regulation to them. Regulating the entire market could hinder its growth.

if they regulate the market your anonymity is still going to stay the same as it always been so your title doesn't make any sense at all. as for the rest i think that people are putting too much faith in regulations for some reason as if they haven't seen any regulations in their lives before. they are not going to do anything about scams. the market will still remain somewhat decentralized and scams will still occur. specially now that decentralized exchanges are becoming more popular.

Without proper regulations, it will always be abused by many and will be used to scam people. That is what the government don't wanted to happen to its citizens. It is always possible to create regulation with anonymity like KYC requirement during ICO and their transaction on blockchain will be anonymous when they start trading it right? Besides, that also applies to trading platform where they can track the user of the wallet address if theu submitted KYC.

If me i will follow anything that can make bitcoin and other cryptos be better, not only in it's system, but it's value too. Even should do KYC, if a site force us to do that, we must do that thing. Even it is different with anonymity that offered by crypto before.

for me that regulation is the most important thing. with the regulation, the circulation of digital currencies will be controlled much better. there will be a certainty that can make the price of the digital currency increase. this all requires development and the role of the government in making a regulation must be implemented immediately.

If you are thinking about KYC, just go back to the system introduction. Why cryptocurrency is here? To reduce all the problem we are having from govt, the bank I mean to reduce centralization. If you are going with regulation, you are not supporting decentralization which is opposite to the cryptocurrency system. So, I think no regulation is required.

Unfortunately, there is no complete anonymity! And regulation of rules is good, although very strict rules often scare us!

Regulation to remove the anonymity and the regulators can monitor the crypto market. But this time it's already happened through various centralized exchange site which give responsibility to the users to complete the identity verification.

I think we need to make the crypto currencies industry more safe for people. If we would not regulate projects, we would lose a lot of investors and it is definitely very sad. It does not mean that we need to undergo the full KYC, but something that can protect investors from fraud ICOs would be great.

There should be some sort of in between zone for this question. I mean if someone wants to be anon then they should be allowed to be anon however if they want to get regulated then they can. I know it looks like both can't coexist together but the closest we have is that "people can do whatever they want with their bitcoin and governments should not care about it, as soon as they turn their bitcoins into fiat then it should be regulated properly and traced".

Even if you turn your coins into fiat at a low amount or high amount regulations should check where that bitcoin came from and how you made it and so forth, which means they will go into your bitcoin history as well, just not when you do not want them to. If you do not want your bitcoins to be seen or known, it should be allowed to hide them, its the cashing out that should be regulated.

Thoughts that are very much in regulation today, but it must be remembered that cryptocurrencies were created anonymously, so in my opinion it is necessary to leave anonymity online.

I value my privacy more so I prefer Anonymity.

And how full KYC will make scams impossible? In countries like Hungary and Bulgaria, you can't buy prepaid SIM cards without ID. Do you think this solve the scams with phone scammers? Nope, criminals just hired gypsies to register cards on their names for 10-20 Euros and then everything continue in usual manner. This was just a simple example. In countries like Croatia and Slovenia you could buy a SIM card from every kiosk or gas station without ID or anything for 2-3 Euros and criminal rates are few times lower than Hungary and Bulgaria.

Everyone has their own opinions about this. Because regulation is not always good and anonymity is not always bad. Both of them have their own portions. And I think blockchain technology is correct with its anonymity.

I think the blockchain as well as Bitcoin was originally created for the purpose of anonymity. And we should follow that original goal, rather than now looking for ways to manage and bring it into law.

If I have to choose I will prefer a full regulation if this means no more scams..unfortunately there are too many scams nowadays and this is the worse thing that makes every  big investors stay out of the market

Yes, something like this.
Crypto environment was originally created as anonymous and transparent. For individuals. If an organization appears in a crypto area, then it is a legal entity, then it must be public. With regulation for legal entities. This is necessary to protect individual users. In this case, a system with anonymity and transparency is possible, where only petty fraud is possible.

I agree with you, and I also believe that fraudsters will always find a way to deceive us, whether there will be regulation or not, therefore we need to be extremely careful. But when the market is regulated, it can be assumed that it will not be so volatile, which means that it will not attract many investors.

At some point, these two had some pros and cons. Better regulations don't stop scammers from scamming, it will just make a new way to scam people again. If blockchain had no security, you think the mined coins would be safe from hacking? It is not totally anonymous because everyone can still view the transaction history but the only anonymous to it is the person who is using the address.

If they want a better anonymity, i suggest they have to simply make your transaction history hidden to everyone except to the one that you have negotiated with. But just like i said, these had pros and con. Everyone can freely make a choice what is convenient to them.

I think regulations will work better for us.  The rate of scam in cryptocurrencies is at the slamming rate and this is happening because Cryptocoins market and transactions is anonymity.  I think if it is regulated governments will set up measures that will reduce crime and criminality.

i would prefer anonymity rather than regulation using KYC if possible.
because even KYC nowadays can't fully prevent scam, people can fake their identity on social media or full KYC check. even video call for KYC can be cheated by hiring someone. so to say that it can prevent scam was not really true, the best it can do was only minimize it.
the first cryptocurrency bitcoin was created to make it's transaction posible confirmed by everyone but can also stay anonymous. also blockchain selling points is anonymity. so it's right to say if crypto community boast it's anonymity and it's nearly imposible to be regulated at least for now.

KYC is a joke, What they inherently do is deputise you so you can rat everyone out to the government. no one is safe ever. Its up to you to keep your funds safe. Pirate chain will be the most anon currency in about 3 weeks with the first sapling only implementation. Closest crypto to cash imo. You cannot even look up transactions on the explorer. IRS cannot trace shit and nor can anyone else.
Anonymity = Security = Privacy
 If you need someone to protect you then..  you just need to stop being a pussy

Privacy is necessary, especially in cryptocurrency. States will strive to reduce the maximum level of privacy and anonymity in cryptocurrency, so that the level of popularity of cryptocurrency among the population fell. Therefore, we need to defend our right to anonymity and privacy when working with cryptocurrency and to give the minimum possible from these concepts, only what is reasonable and really necessary.
KYC verification will not eliminate the problem of fraud. Now here on the forum there is information that on the Internet you can buy KYC check data from many well-known exchanges. For ten dollars you can buy hundreds of information about individuals and their documents, and with them anywhere you can get tested by KYC now. Bulk will be much cheaper. Do not be naive, fraudsters only gain from KYC testing.

The whole 2018 year was devoted to anonymity, which we saw this year, an incredible amount of manipulation, fraud, fraudulent schemes, a huge number of scam projects, and all this for the most part went unpunished. Perhaps it is time regulation.

Honestly speaking, many people would've loved the anonymity aspects but we shouldn't also forget that the governments run everything in relations to human affairs and so we won't get pass them very easy and conveniently. So in my opinion, I think regulations are surely gonna come in.

I have seen so many scam projects that stole the identity of participants. I then sometimes wonder why this happens. Perhaps they will be selling to identities out.
I would prefer decentralization and based on my observation, decentralization has been the attractive force of investors to the space.
Identity is an integral part of one's life, which needs to be protected.
This is more reason I prefer decentralized exchanges.

But most of the people who accepted cryptocurrencies in the early days are just because of its anonymity so making points based on the anonymous is more better to be a cryptocurrency than a regulated one.

If you want everyone to go through KYC then why use cryptocurrencies in the first place? Use fiat and be happy with it, cryptocurrencies are a new way to understand money so you cannot expect to apply all the regulations of fiat in this market and somehow make it work, if you want the number of scams to go down then we need to begin by avoiding being scammed ourselves and that is relatively easy since you only need to use your common sense and avoid greed taking control of your decisions.

I think that these two words are not connected. I think that there is nothing bad in regulations. You're right, it should reduce the % of scam projects. But blockchain became popular for it's anonymity. It was a great advantage. As for me, between these sides I'll choose Anonymity.

Honestly anonymity is meaning more rather regulation for me. States should apply strict rules to centralized exchanges based on same origin but crossing red line is unacceptable for me.

Yep, I agree with you on all the above

For some cases, regulations is badly needed just to give a bit of security and assurance that if any thing happens, there will be someone to catch with. This is just a tool to protect the overall situation of the system from illegal activities. Example in ICO, regulations should be done to protect investors from scam. For some, anonymity is also needed to preserved the decentralization characteristics of cryptocurrency.

Well, I don't think anonymity will remain in Blockchain technology because it promotes transparency of transactions but some of the so-called "millionaires" were really afraid to expose their true identity because of security reason while some of them avoid taxes and to be traced if they are doing something that is illegal. While regulating the Blockchain or cryptocurrency will somehow protect us from fraudulent projects and scammers. Illegal activities will also be stopped and processes will also be regulated. But this will surely affect us when taxes were imposed on our profits and earnings.

If anonymity can still be carried on then it could be much better but it depends the current situations, but I must preferrably go with regulations because this could lessen many scams or totally eliminate scams which ever could take effect, it is very important if there is really regulations for the good of cryptocurrency.

I think regulation should be applied for the developer who are creating a project, that is to avoid people making any scam project that getting more common in the past months. Hopefully with that regulation, the potential of any scam project will be minimized.

It really happens today, regulators are starting to involve themselves in crypto market.

Why? there's a big money that awaits for the gov't once they understand that it's not just a simple market or another payment method. There's a big market cap that lies to crypto so they just can't ignore that fact. But most crypto folks wanted anonymity.

KYC doesn't guaranteed that you will not be scam because it is being used now to collect information and scam people so technically this won't help much. Regulations is important, but it must be clear so everyone can know their rights. Government regulations will make things better but there's still no guaranteed for security since everything is accessible from the hackers.

Seeing the current state of regulation is indeed very necessary, but not with KYC regulation because the interesting idea of the krypto currency is privacy.

it can be both i believe. because some crypto really needs to have regulation in able to perform safe and secure. While on the other hand, anonimity of a crypto or token can perform good as well because of being able to transfer money without any entity tracking what you are buying or selling which is the main goal of crypto since the start imo.

Regulations are made to be more orderly, but the fraudster remains and seems difficult to eliminate. Anonymity also needs to be able to protect what we want, but fraud continues, all of this has risks and is full of intrigue. Regulation and anonymity provide an opportunity to be able to accept the risks that occur but cannot eliminate them, but regulations can minimize fraud.

we only need regulation at icos and not at crypto in general. in my option a complete regulation of crypto could have a negative impact on the market and nobody wants that.

I think fraud will be in any case. Just adoption makes the market stable and virtually completely profitable, anonymity leaves a lot of old and exposes new market problems.

I think regulation and anonymity have to work together for the better future of cryptocurrency.
If there is no regulation, then we are at risk facing scam and fraudulent offers. If there is no anonymity, then we lose transparency and financial freedom.

Take the Gigzi ico project for wealth management, for a sample .. it has a regulated treasury and localised banks for crypto to fiat or gold storage. Plus an anonymous crypto wallet for security.. This is good to answer both regulation and anonymity.

It is just good to leave both available. Because most of the users wants full anonymity on their transactions while others wants to be regulated to filter out scam coins and other scam services.

For most of the smartest projects here on crypto, they prefer to stay anonymous, on the other hand, anonymous project are not that trusted, in addition, regulation is not needed if we prove the project can really stand well.

I think if cryptocurrency market is completely mananged by regulations, it will be no longer its self. Regulations should just be complementary things to help it grow up in a sustainable way

Regulations on the surface seem like a good idea but once you see the regulations being applied your mind will change but then it will be too late, it is better to learn to regulate yourself, when we know that more than 90% of icos are scams instead of looking for reasons to invest in them you need to find reasons to not invest in them and at the slightest sign of something being wrong then you need to consider it as a huge red flag and make you doubtful of investing in that particular ico.

Applying strict rules to this industry will not let things turn like in old days. After passing KYC the variables for trading will be limited and liquidity issues will start to appear. Wise scammer will found new ways like phishing  to grab free money.

scammers are becoming more sophisticated. It scares me how smart they are. Market regulation is needed as soon as possible

Even if it is fully regulated, scammer would still think of ways to exploit the system, I think we shouldn't go for regulation because people are getting wiser and know to stay away from scams.

I am for the idea of anonymity, because with the regulation the meaning of cryptocurrency is lost. As I see, the scammers cheating KYC rules by purchasing someone else's data that are being sold by those who have collected them from naive users who have participated in ICO, bounties and airdrops.

The KYC thing will not be stopping scam. It might help reduce it, but will never stop it. No matter how much verification and other stuffs are required, you can't totally stop people from scamming. They will find their way to just rip off people.
Regulations might help but having extremely strict regulations might make the system end up being some what centralized. We don't want that to be happening.

Several projects reveal the identity of their team through their social media accounts, were they can be contacted, while there are some who do not reveal in any way.
I agree with the fact that the team showed be made to do full kyc, perhaps with a particular regulatory body, but should be ignored for investors, except when using exchanges.

I think that KYC will not solve the problem of fraud completely. I like the idea that was expressed by people above that the KYC be useful to developers of the project. But if we try to make KYC for everyone, it will not lead to anything good. Because people are here because of decentralization and anonymity.

I have been a strong believer and advocate of crypto regulations. There is simply no way this industry survives if regulations don't come in fast. With all the atrocious acts, fraud and gaming taking place in this industry, it is obvious that the crypto space need regulations and other forms of control. If nothing happens in this regard, then we might see a high scale melt down and continuous abuse of the system. Anonymity has contributed to these wide spread rot in the system and it is time proactive solutions and steps are put in place to checkmate these challenges and I think regulations could do the trick.

I think that only in the presence of Full KYC will it eradicate scams, the possibility of a scam even though having full regulation is still there. so regulation in my opinion will also be in vain. The solution, in my opinion, is that regulations continue to run naturally, they will remain anonymous and must stay on track. We cannot damage the initial guidelines of anonymous crypto

Of course I will choose anonymity, we need currency that able to give us freedom and unique feature to used, if the government doesn't interfere then it will be a great things, but now the government doesn't want just to sit idle, kyc in crypto is a bad thing, we don't know for sure what will the developers going to do with our data

We will not be able to completely do in cryptocurrency without anonymity, or without certain rules in it. Need a golden mean. KYC checks cannot be applied to everyone, otherwise it will do more harm than good. KYC checks, for example, are meaningless for bounty hunters and small investors.
At the same time, the rules are needed here, otherwise hackers and scammers will rule here, and the state will never legalize cryptocurrency.

Regulations and Anonymity have their respective places. If you talk about Blockchain, anonymity is the best thing. But if you talk about ICO, then regulations are things that need to be considered so that there is no fraud.

We are already increasingly convinced that without the introduction of certain rules in the activities of the ICO, their regulation by the state, this activity is increasingly at an impasse due to the very high level of fraud in it. In addition to restoring the cryptocurrency market, only such regulation can revive this activity. I hope that this year many states will regulate the activities of the ICO in order to protect the rights of participants in the cryptocurrency market without affecting the fundamental principles of this type of activity.

People believe the only way out for crypto as it is currently is regulation. Regulations is good but then it's against everything Satoshi stood for when he was developing the bitcoin network. But to help safeguard investors money regulations is needed especially in areas of ICOs.

I choose  regulation as this is the  key to global acceptance of  the cryptocurrency industry, also with regulations and  policy formulation through government involvement, scammers  in the space will be eliminated, this is the future of  cryptocurrency development.

I do not think that regulation will help in any way; fraud will also be possible in this situation, because a person will always find an opportunity to benefit!

We can very well do with both. It's going to be difficult to stick to just either of the two since anonymity is a feature that sets crypto aside from controlled fiat. It gives power to the people over their money and transactions while regulation is essential to patch the holes in security for this market.

I agree that the regulation will lead us to the more rapid adoption of cryptocurrency in the world, but I do not think that it will help to eliminate scammers

Regulations in the crypto space is actually not a bad idea as it would help with the regulations of scam projects in the crypto community but the fear that most crypto enthusiasts have is the fact that how safe are their data going to be stored on some platforms. We heard recently off the data breach that occured at Facebook. I believe strongly nobody wants his private information sold to anybody and so this is why some people really think crypto activities should be fully based on anonymity.

I personally want a regulation because this can accelerate mass adoption. but for some people anonymity is very important and this is the attraction of crypto.

so why don't we combine them.,  crypto which has regulations but does not eliminate the function of its anonymity. that way a person will agree and want to use crypto.

Yes, but regulation will help us make cryptocurrencies more open to people. many investors now do not trust to cryptocurrencies because it is not regulated

I am for anonymity, let it be more difficult with it, more scam, more risks and deception, however I am my own boss and I am responsible for the safety of my funds, this is a crypto currency, which means everything should be anonymous.

I believe that the lack of anonymity in cryptocurrencies kills the whole point of their use. For me, anonymity is one of the main advantages of cryptocurrency. In my opinion, the regulation should concern only the ICO, but investors should be able not to disclose their identity.

Anonymous is the main advantage of crypto currencies but in blockchain there is not fully anonymous,the data stored in the blocka can be viewed by anyone but there can't able to make any changes on that blocks.Regulations will not be related to this and it is impossible to do that even.Many countries having regulations for crypto currency usage but no one can regulate what we need to use and not on cryptos.

It is hard to say which one choice is better for cryptocurrency future.
If we decide about anonymity, more scams will be cerated.
If we decide about regulations, this market will not be free anymore.

I agree with you, the regulation of cryptocurrency should be a priority for its distribution and adoption as a means of payment. The anonymity of cryptocurrencies is more a myth than a reality, with the exception of individual coins, but without regulation, the market will not be able to develop fully.

If i have the choice, i would choose anonymity. In the crypto area, anonymity is important to me, because i don't want my neighbour to know the stock of my coins, for example. Therefore i would not like it if the crypto area is regulated. But i have a different opinion on icos. There would be a regulation good to prevent the whole scam ico.

It seems to me that the regulation of cryptocurrency will completely kill its anonymity. I do not like it because I think that cryptocurrency should be completely anonymous.

Anonymity is one of the main factors for which I began to use cryptocurrency. I want to be able to shop anonymously, manage my finances the way I want. But at the same time I want to be protected from fraud, and this can be achieved only through the regulation of cryptocurrency at the legislative level.

Now there is no anonymity on the cryptocurrency market.
Each development team manages its own coin, may make changes to the code of its coin and otherwise manage it.
Most coins can be traced from which wallet and which coin came.
Is the above can be called anonymity?
Therefore, I am not against full-fledged regulation of the crypto market, if it saves us from scammers.

Decentralization which comes with anonymity, has made the crypto space as well as the technology, which is blockchain, to survive to this point.
I do not think regulation will anything better , except when it comes to those who lunch projects, such as ICO, where they would need to do their KYC, in order to gain the trust of investors.
No anonymity should ber maintained in order to preserve that value. If regulated, then we do not need blockchain again, because that will bring centralization.

States want to control everything and they will not allow the development of technologies that will help people to be anonymous.

Scammers will always exist, you can not get rid of them.

Blockchain technology is about serving the community with good and fast transaction which it only contain the address of the sender and receiver. But at the end when we cash out some of our assets, we are required to do the KYC because it's their requirements. Moreover, as the year goes by, we commonly experience KYC whenever we get to an exchanges. About regulations, I doubt this'll be still need to be studied especially when having an ICO.

Every choice will require the negative and its positive sides. Regulation will probably reduce the scam and it will be more stable. however, it is different with the first aim of crypto, for anonymity. I personally still believe that with anonymity, the crypto can be still more stable in the future, just only wait for the moment, not only now happening.

We can directly compare it to the words, REAL or FAKE, Regulation for proving the project that it is real, or Anonymity, basically, tolerating the project to be anonymous in the market makes us create more fake projects that can make the reputation of the cryptocurrency fraud and intended to scam people.

The idea of blockchain and cryptocurrency is to allow users to transact with complete anonymity. A decentralized system where there is no middle entity that would control transactions. But lately, a lot of scam projects have been happening that regulation was called upon to institute control and protect investors. If this is a means to eliminate scams, I don't mind regulations but not to the extent that identity would also be compromised

People who want regulation, are the same people who are only concerned with money, valuations and things like that! People who like cryptography, care little about price or any speculative move because they know that people who want regulation, will be after these cryptos later! Be careful with people who want regulation! The essence of encryption is it! No government, no intermediaries and so on.

something along the way is making it dimmer though because as a whole we also want adoption which may not happen if there will be no intermediaries in the middle that will regulate. the investors also needs protection from scams. anonymity and regulations will not go well together but if you want anonymity, there are coins for it. that is the right path if that is what you want. you can always avoid KYC.

This is a rather slippery topic. Adjustment is needed for stability. And anonymity for their respective cases. There will always be opponents of this or that. The bottom line is that if you want a crypt in everyday life, you will have to give it some adjustment.

On the one hand, anonymity is good, but on the other hand, sometimes it is expensive to pay for it. The risk of fraud is very high, another point that I think is counted not in favor of the anonymity is that some people do dirty things like the drug and arms trade with the help of the blockchain. I basically have nothing to hide, I am ready to sacrifice anonymity for the sake of greater security.

It defends on the situation The Government regulation including full KYC must inforce to the people who implementing any form of crowdfunding activities like ICO's,ITO, etc. to have a criminal liability in case of any untowards incidents such as exit scams and other form of scams after a succesfull crowdfunding campaign! The one ultimate reason and purposed is to protect the investors funds. While on the other sides about Anonimity my opinion is if you are a private investors or trader you can hide your real identity to protect yourself from any threats of being targeted by criminals etc. These part the Anonimity is very useful.

I think we need to find a way to regulate ICOs, because it is getting pretty strange. There are so much fraud projects at the moment and because of them, people are afraid to invest in any project.

Crypto currencies were created to avoid any third party and to make anonymous transactions. I believe we should stay where we are now and do not let governments or any other third parties to regulate our industry.

I prefer anonymity. crypto can be this big because one of the reasons is anonymous. if this is removed then what's the difference with the mainstream financial industry. regulation may be good but this is not too important, try to recall a few years when crypto was first introduced, is there regulation? and is there no crypto regulation destroyed? no, because crypto doesn't need regulation to survive here.

In order to prevent scam and possible to filter out only the good project in the ico, then I really choose regulation over anonymity. Because what is the sense of anonymity if almost all of the project are scam already. We want to make a change especially this newly opened month of the year.

I agree with your opinion with KYC to reduce the impact of fraud, but all can be manipulated by borrowing identity to do KYC which is a very complicated problem.

I am sure that the regulation of cryptocurrency will give impetus to further price growth. And for anonymous use there will always be a couple of projects created specifically for this purpose.

This is true, however sad it sounds. It's a misconception on the part of the debaters. But I think the part of regulation that is needed (and compulsorily too) is the ICOs, not the cryptos themselves. Regulation in ICOs will help eliminate scam projects.

Regulations may seem to be targeted at scammers but most of the time that is not the case, regulations are aimed against the average person, just look at the fact that now you are required to pass KYC before investing in most icos, the developers of the icos can still create their projects without revealing their identities but now an investor not only needs to give them their money but access to private information that is arguably even more valuable, those regulations were obviously created not to stop scammers but to find out who is holding a fortune in cryptocurrencies.

It is possible for both anonymity and regulations to exist side by side going forward in the crypto world
Anonymity is one of the fundamental ideals of cryptocurrencies and blockchain technology and taking that away all supporting it in any means will not only render the blockchain technology useless but also mean that people will be less likely to adopt cryptocurrencies.

Regulations on the other hand is equally as important because this will protect the newbies in the crypto space from avoidable scams.

KYC also does not solve all the problems, and in the case of fraudulent projects, quite the contrary, they create problems of distrust!

Basically, bitcoin, which is considered as the best crypto ever works with anonymity. Particularly, when it was launched 10 years ago, And because of that, we have no reason to not choose being anonymous.

No, I don't agree with your opinion, blockchain is basically public and eveything all is public. If it is designed again and become to be private, it will be not blockchain anymore

I wish crypto were anonymous , because it is one of the few places where we are not controlled by the government. Of course, there are many scammers here, but KYC is not a panacea, and I am also convinced that with the help of smart contracts you can create an exchange / trade system where fraud will not be possible.

What i wanted would be, Regulation should be applied on any new created project to protect everyone from being scammed. And for the investors/coin holder, just keep them in an Anonym parts of this crypto world.

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

All you need is to protect your users from fraud with all your might. And what is needed for this is what should be chosen. Anonymous in this century to be unreal.

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.

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.

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.

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,

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.

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?

That is two poles of this market and they will survive together. In the future, there may be a new form combine both

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.

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!

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.

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 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!

Regulations and economy? They are not the best friends. If you are not a "neccessary" middlemen, of course ;D. 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.

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

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.

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.

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.

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 is good but it's not so good as the people said.

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.

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.

You make some very good points. The storage of peoples' data is a huge target and there's so many places KYC has it stored. The fact that there's so many places not regulated by the SEC or people just disregard it shows a place for anonymity and a huge gap for failure at the same time... It's a double edged sword in today's world.

It is unlikely that they will be able to carry out the whole complex of measures that will help to rid the ICO sphere of all its main shortcomings, especially if you have to think how not to touch anonymity

This is definitely noticed.  For organizers, KYC is required.  Working with the bounty, I do not want to distribute my data to each project.  Anonymity and decentralization, this is the main thing in the blockchain.

I think regulations are necessary and healthy, and that anonymity can be good as an optional feature. My concern with anonymity is the potential for abuse and kidnappings, so I think complete and total privacy, while there will always be a market for it, is not ideal in the space generally.

I prefer the idea of anonymity, especially because of the strong state control over the private life of citizens in recent times. This is a kind of response against excessive state control. But I understand that regulation in some areas of the crypto world is necessary for further development.

I believe that anonymity can not help the market. At this time, the market needs regulation. As we fall to the bottom and how you need to change it.

I am clearly in favor of anonymity. This is one of the main features for which I love cryptocurrencies and buying new coins, I want to keep the right not to reveal my identity. If to participate in the ICO, the passage of KYC is a mandatory procedure, then for bounty hunters, I think it is necessary to introduce alternative options that will allow to remain anonymous.

If you want regulations go to stock market.
If you want anonymity then choose cryptocurrencies that give us opportunity to be free again.

Cryptocurrency has no anonymity. I have already transferred all my data to the stock exchanges. Tell me what can be anonymity?

Cryptocurrency is not totally anonymous but it is decentralized! Anonymity is the nature of crypto and everyone loves, feels safe and freedom in crypto's anonymity! But to make crypto adoption in real life, regulation needs too! I don't want to see Bitcoin under regulation, but still, if a new project comes with a face then I will welcome them gladly.

Unfortunately, anonymity for fraudsters is the only necessary factor for prosperity, and KYS is the main mechanism for deterring them, but it is also vulnerable. Therefore, additional tools or rules are needed.

If you look from the point of view of the global Internet, then I think that today it is very difficult to speak on the topic of anonymity. Because today there is and is already running a huge number of services that index a very large amount of data that worsens your anonymity.

I don't believe that KYC can make scam impossible and I believe that if all privacy coin are erased we will have problems on crypto space ,it means KYC implementation will make your Worth's known which can't be called 'safe' ,as for KYC stolen identity is still a big problem

The truth is that KYC will not stop scammers, they just can buy an ID. However, this is the only tool to combat fraudsters.

Regulations and anonymity both have an advantage and disadvantage but I definitely like the anonymity part of crypto currency because regulation could lead to act of data linkage which was said to happened last year. However, i wont blame the SEC raising issue about regulations because the crypto currency anonymity abuser are the cause of it.

the blochain is and must remain anonymous the kyc should be abolished altogether in the world of crypto, the various scams can be prevented in other ways, for example the various dev and team of the icos must make public names and photos and use escrow

what about both, a regulation and staying anonymous isn't that better?
I know KYC is a failure nowadays there are many problems caused by PCs but we should be able to become a better way to solve them. privacy is one of the things that makes crypto grow to this size. so it's impossible to remove.

You can curse regulation as you like, but it is this that still helps to keep the crypto market, without centralized exchanges, without centralized coins, it would be extremely difficult for us, and the scam would be much more.
Therefore, regulation in the ICO as a temporary measure may well play a positive role.

I am still for anonymity, because it is one of the major advantages of crypto currencies and I am sure there is a legit way of how to guarantee investors that a project is not a scam. When we will find this solution we would not need any regulations.

They say so, if you hide something, you want to be anonymous. I also thought about it for a long time and I believe that there is order when everything works according to the rules. The rules in our case is regulation. Do not forget that all financial systems have always been dependent on the rules and there have always been those who managed the system. And who said that the blockchain was originally created for anonymity? Now a lot of things are being said, but the truth is that we do not know the truth. Based on this, we conclude that the development of a crypto industry is hampered by the recognition factor, and therefore regulation is needed. After it, banks will use cryptocurrency, which means recognition will occur.

A tricky question, as for me. I would vote for anonymity for sure but that’s probably because I’ve never lost my money here.
I was extra cautious but if I had been robbed I’d have had a different view probably. So let’s drop it till better times ;)

I do not understand why everyone wants to get this anonymity? You do not do something illegal. Of course, if you are a gangster, then it is profitable to be anonymos

It seems to me that if you look through the prism of the world struggle against terrorism, then no state will allow cryptocurrency users to work anonymously. You understand that billions of dollars are spinning in the cryptocurrency market, which is quite possibly used for evil purposes. Based on this, certain rules and adjustment of the cryptocurrency market will follow.

The whole point of inventing crypto was really to provide a decentralised platform for financial transactions and in order for this to work the system relied on anonymity so that transactions were all private and free from government getting involved. If we get rid of anonymous transacations many people will just leave crypto and go back to fiat.

Looking at the rise of scam in crypto these days, I think regulations are much needed. The market is being manipulated by bots and KYC will help control that.

many things apply otherwise where someone who really understands crypto will actually enlarge their interest. the initial principle will continue to synergize and change some things that are really undesirable, but no matter how strong the regulations that will emerge will still not apply perfectly and there will still be some loopholes to keep the user anonymity of assets that are still desirable in full privacy.

fiats are other centralized currencies are already regulated but did that solve the issues on scamming and other illegal crimes ? i guess no  . same can also happen to crypto if crypto was already regulated i dont think that scamming can totally vanished as what you intented to say .  kyc can only give us all a head ache  .  crypto was meant for anonimity and bieng independent so dont ever ruined its purpose  .


lol no it does not mean that way  . you dont need to be gangster or a criminal to be able to fit in being anonymous . people just dont like to expose thier identity as it is more dangerous and can lead to some other criminal acts that can be used against you  .

I dont believe anonymity and regulations have much in common. All countries does regulate and will keep regulating crypto.  People and also governments will use cryptocurencies with transparent and non transparent ledger. There is usecase for both. Also scams will be always possible.

KYC kills the anonymity so what we need right now is the regulations, because if there is no strong regulations then our datas can be use in black market and its possible to be hack. Regulations can increase the trust rating, but hopefully it will be more effective. Don’t be afraid if the government regulate cryptocurrency because if its a good regulation then its a sign of acceptance.

It seems to me that if there is no anonymity, many people will leave crypto. After all, this is the most important thing in it, people like decentralization and isolation of crypto. Perhaps some regulation will not prevent us, but we must keep the idea of anonymity in any case.

It's not about the blockchain being redesigned, blockchain is very OK but some crypto scams pose the big question asked on this thread. I think regulations will come before mainstream adoption will be possible.

Definitely. Sometimes freedom need limitation because there is always some bad people that misuse that freedom to harm other people, that also the very reason why government exist. We are not grtting blind to hate government for limiting our freedom because there is many good on that. Regulation is really needed before mainstream adoption.

I think that those people who really want to support the original idea of cryptocurrencies vote for anonymity, and those who want cryptocurrencies to continue to bring good profits, they choose regulation.

I still think we can continue with the anonymity which was the main vision of Satoshi Nakamoto when Bitcoin and cryptocurrency was invented.

I want anonimity for me and regulations for everyone else who wants to scam the hell out of me.

I would like to have some kind of balance, so that we do not have to give up anonymity, but at the same time that the rules work and at least slightly protect us, otherwise the future will look doubtful

But remember almost all of coins are pegged with the centralized exchange site which so many of them are giving mandatory to the users to use KYC verification of they wanna increaseing their withdrawal amount.

Worst thing about cryptocurrency is that there is no regulation applied on every new project, especially a project that opening an ICO to collect some fund.
That will be able to cut off any possibilities of scam project that spreading so much in crypto world.

This KYC, regulation bla bla bla will not make cryptocurrency successful. People will not use it anymore uf there is a way to regulate. People want decentralization, people want to be anonymous, they want no one to interfere with their asset.

Using KYC, in my opinion, is not necessary. Because basically everyone here is just anonymous. And KYC is usually only used for large investors. It should be good rules and not curb everyone at Crypto.

Anonymity is the main reason I use bitcoin. The rules are always controlling you.

Both can be satisfactory. Even anonymous coin actually do provide a decent profit, sometimes it can be the best just like what bitcoin has proven to us. No regulation, just pure hard work and passion by its creator.

Bitcoin has no anonymity, there is an established issue that is low. Anonymity is at Monero and other cryptocurrencies.

Fraudsters are just those who require us to undergo a KYC check. Bounty hunters mostly do their work in good faith, however, due to these illegal KYC checks, in many cases we don’t get any earned tokens. The KYC check has little to do with fraud. It was designed to prevent the possibility of laundering dirty money and to combat the financing of terrorism. Bounty hunters cannot have any relation to this, since they do not invest in ICO projects.

The regulation is important for cryptocurrency at least to make everyone know about cryptocurrency. As you may know when a country rejects/prohibits the use of cryptocurrency, they will give a lot of bad pressure to cryptocurrency users and even reduce the space so that cryptocurrency does not grow up properly in their country.

This is a bad impact when a country does not regulate cryptocurrency well, but the other impact when they accept cryptocurrency is that they must include KYC every time they have a wallet and now that has happened a lot especially in some centralized exchanges. I think it is a consequence when negotiating with the government, they must know everything that is done by the people, especially the negative news about cryptocurrency users.

The purpose of regulations when it comes to ICO is that, you really cannot collect a huge amount and then run away leaving the project, every ICO that is being conducted will be regulated and there will be no scams what so ever, if you are starting a project and planning to collect money from people the company planning to do so has to show their identity rather than sitting behind their computers and advertise their projects and most of them will never fulfill anything.

Truly KYC to an extend will checkmate scammers, but, then what is the difference between traditional system of business and decentralized system?  I stick to decentralization which is the crust of Blockchain technology. 

Just because of anonymity we were not able to track the hackers because I believe if we have some kind of regulation in crypto space it would be much better for all of us. If KYC is there its hard to hack anyone's account atleast we will know who is the hacker and can take some action against him but on the other hand some people does not want to give their identity proof for Kyc because they are afraid that their ID proof can be misused. Ultimately I would say Kyc help to eliminate the scammers and regulation is also needed to gain the confidence of investors in the current disrupt market.

Anonymity is the idea behind cryptocurrency, i think keep it that way would the the best thing to do. But in case on fixing the scam project that keep on appearing, a regulation is totally needed.

I will prefer the regulation over the anonymity because when regulation is involve the rate at which people are being scammed will reduce drastically.
Thanks.

If we want to prevent the scam project we should move into the regulative sphere of this market, otherwise our money will be in danger.

Regulations may increase the adoption in cryptocurrency while anonymity will have a resistant. But I am still thinking that anonymity is the best because we people don't want to be forced by our governments.

I would not mind partially giving up anonymity if it helped the development of the cryptocurrency and saved us from most of the scams, because otherwise nothing good will come out

you are right, not many of us care about anonymity. maybe if there is regulation it can make crypto enthusiasts more, but there are also possibilities, there will be many who are afraid of this regulation.

We now have a lot of different projects, do not need to choose one thing, if I need anonymity, I will go one way, if the regulation is another.

Anonymity and regulations are two coins with different faces because the two can not work together you can have anonymity and at the same time be regulated because you can regulate what you can't control. And in my own opinion let the blockchain remain anonymous because even the KYC and the rest of them can not prevent scam from happening.

It is important to note that fraud should in no way come from the team, so they first of all need KYS, even if this is contrary to the rules of the crypto community. The investor must be confident and calm

That anonymity is the key to rampant fraudsters in the ICO. If we take as a rule the obligation of KYC for the team, then everything will become easier. Of course, this is not a panacea and KYC can also be circumvented, but it is more difficult and not everyone will want to do it, but that is another question.

I think over time most of countries will put regulation on crypto and some of them will put tax on profit only, but also some people maybe want anonimity and yes i think they can buy bitcoin and hold on their wallet, and no one know who belongs that wallet, and tax will be put only when sell a coin and get a profit over year.

I guess most of us will choose anonymity. But, if we develop in regulation issue, it is doubtful that anonymity will go far. As time goes on, the anonymity will be taken. Unmanaged world means ruin.