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#Proof of Authentication
Bitcointalk username: mayukus4life
Telegram username: @dontfindfault
Participated campaign: Blog/Article
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#PROOF OF REGISTRATION
Bitcointalk Username: mayukus4life
Telegram Username: @dontfindfault
Participated Campaigns: Blog, twitter, linkedin and facebook
DACX wallet: 0x9E25C8734080a5d5baa594e7d4547698deF02600
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Bitcointalk username: mayukus4life
Telegram
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If you say all Crypto is scam then you have succeeded in adding the father of cryptocurrency (bitcoin) to the list and in essence you know BTC is quite distinct amongst them all. That been said, majority of these cryptos are actually scams with the intent to defraud unsuspecting public. As you rightly mentioned most of these roadmaps are just a way of buying time because the team knows they will not fulfill those goals as stated. Crypto still has a long way to go to be fully adopted, so many persons see it as a means of earning for now. Some can write awesome whitepapers with nothing tangible afterward to show after collecting monies through ICOs and other means.
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There shouldn't be a problem to send them into a prison, right? We know the team members and where they live, so why we do not manage some legal action against the team? ICOs need to understand that the token sale doesn't mean free money.
I think the projects people know their team members in real life are very minimal because most come up with pseudo names in order to hide their true identities so getting such persons might be an impossible mission. In terms of legal action against the team, how will people from different locations pull resources together to fight that legal tussle successfully. We need to be more cautious and try to invest on projects with verified team members who has some kind of integrity though such verification also might not be easy. The days of ICOs are almost gone, with these IEOs, someone need to stick to some of the exchanges that has proven themselves over time to be reputable at least to an extent that they don’t just come up with IEOs that come their way without doing due diligence |
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KYC is actually a way to avoid fraud and to protect yourself from fake accounts, with KYC you can easily recover if one day you cannot access your own account.
In my opinion KYC is not something that needs to be debated too seriously, they just want to avoid washing and comply with existing regulations.
I think it is the best way to avoid some users that have a fake account of have multiple accounts because there are lots of people joining their multiple accounts in the same project. It is actually unfair because they are taking advantage of it. It is the best way for a project to recognize who is making money with their multiple accounts. I don't know how they track that maybe in the IP address or what but it is awesome, making transaction fair for those who do their tasks well like me. With this KYC, the project can know the people they are giving rewards or accessing their system. The KYC polemic is indeed very pleasant to discuss because it concerns the privacy of a person with the existence of KYC. which one might ask whether it can be held responsible for not misusing someone's identity to be abused? this is another matter. I agree with your opinion to reduce the misuse of many accounts by someone, but whether there is no other way that is more acceptable by not causing new polemics again. because if someone's identity is given to someone else that we don't know is used to harm those who have an identity, is this not a new problem anymore? You have made a very salient point here because if someone's identity is used to perpetrate an illegal act, the identity owner will bear the brunt and we have seen how devastating it turns out to be when vital and sensitive information of individuals fall in the wrong hands. Part of my fears, for instance, someone might use another person's identity to commit crime without the person knowing, you might now want to travel and get arrested at the airport for example, maybe your name already on a wanted list for a crime you are unaware of and as such exonerating oneself will be difficult. Maybe another method should be deployed which i can't really fathom out now. |
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I think the Know Your Customer(KYC) concept has somehow defeated the anonymity being talked about in the crypto ecosystem because it exposes sensitive details of users/participants. unfortunately, most projects always use it as a criterion before one can participate in the IEOs/ICOs though the days of ICOs are gone. In terms of bounty, it's been used to fish out some cheaters and allow fair participation of other hunters. The part that annoys me the most is holding your ID with your face showing also writing date on such piece of paper. I do not see KYC replacement in the offing for now
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It’s for this kind of occurrences that it’s always advisable not to leave your funds on exchange. With these hacks being perpetrated and no remedy seem to be on sight though I think some exchanges has more sophisticated security measures than others. Upbit is one of the major exchangers and as such this event might send wrong signals to some investors/traders.
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This is a serious threat to cryptocurrency ecosystem as a whole, it’s a bad day. The good part is the compensation plan as announced by upbit but investors’ confidence wouldn’t be the same again on the platform. They need tighter security infrastructure to stay in the game.
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