Are You Afraid of KYC?

[greeklogos]

Well yeah I do! I do not believe in 100% safety of all of those places which are asking for such information and I am simply afraid that my private info can be used by wrong guys in wrong targets.

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[prayogi]

I only agree with KYC obligations for large investors, the exchange market also does not have comprehensive obligations to all its users. But there are some things that really need to be on the anonymous path because bitcoin is made for that. For some things it needs to be adjusted to the obligations of the government, I don't have a problem with that because crypto also needs legality.

[troy.gold]

Commenting so I can monitor this thread. Interesting discussion

[Bizard]

And the worst thing can happen abroad, when you can be charged, because our data with you sometimes walks at incomprehensible people, and this is not pleasant, but the thirst for profit wins us, so I don’t do KYC for bounty only in rare cases for ICO.

[Runbitup]

Depending on what KYC asks, if I have to fill in something very personal, I'd better avoid it, but if only reasonable personal data is requested, then I'll give it too if the token found looks good. so everything depends on the condition.

[Rustamm]

For bounty hunters, KYC verification is a very big problem if it is carried out by ICO teams after the termination of ICO, since at that time it is being conducted with the aim of not paying the earned tokens. Such a KYC test is very difficult to pass, even with a strong desire. Very often, ICO teams come up with such response tables that do not cover the diversity of national laws and available documents and are not accepted as answers by these tables. And this threatens us with the fact that we may not receive the tokens due.

[STT]

I had that problem pretty much, 14 days to find out that now there is KYC and that was the reason they would not pay.   Previously I was told nothing further had to be done.   I might not mind if they had told us but the payment details were never changed to show the change to policy nor was the thread opening post changed or the thread title.   KYC should never mean, we have decided to keep this payment or this value previously owed and we will now never pay the balance.  Where does occur in any business normally, money is owed but now it isnt because we didnt get your ID by a deadline.    That makes no sense if the deciding factor is supposed to be, 'we have to be legal'.

My main argument on this whole subject would be if they are going to centralise in this way then it should be a consistent policy not biased towards one side having the an advantage over the other.   A proper KYC policy would be across an industry instead, customers, consumers, depositors and people involved in campaigns are subject to random logic and arbitrary rules.    No wonder people object to the idea

[ameliana]

Depending on what KYC asks, if I have to fill in something very personal, I'd better avoid it, but if only reasonable personal data is requested, then I'll give it too if the token found looks good. so everything depends on the condition.

yes, every KYC is different, if KYC only asks for my fair identity, then my race is not a problem. because a few months ago I also filled in KYC and it was really safe and I was able to get pretty good tokens. the important thing is we have to do some research before filling out the KYC. and if the token doesn't look potential then we don't need to make it to fill KYC.

[aliceHortrex]

I can see that soon almost exchanges and even ICO programs will be requiring us to do the KYC procedures where we are required to pass copies of our legal documents before we are granted entrance or the use of the services or programs we are interested with. This can be as common as having a password or 2FA.

Now, personally I have no big problem with it though just like anybody else am also concerned that my personal information can be divulged to anybody or a group that might use it for any illegal purpose. This is one risk we are facing once we are actively living in the online world. Evil people who can be thousands of miles away can now be just one click away.

What are your apprehensions about the KYC procedures that will soon be as popular as noodles?

I have long raised the problem at the forum that authorization of personal documents in the field of cryptocurrency is simply unacceptable. Just imagine what people can do with your documents on the other side of the planet earth. You will be very surprised when you Wake up one morning, and you will be notified that your documents have been registered loan and now you have a huge amount of money.

[irenegaming]

It is not fear, I would describe it as concern, I am a little anxious to know what they will do with my identity, at the end of the day many of us are interested in the anonymity that the cryptos promised us, and that is being undone due to the implementation of KYC, although I consider that in exchanges it is important to avoid scams and other criminal activities, in bounties, for example, I do not think it has a place.

[NataliiaF]

I am not afraid of kyc.

Once I lost access to my account (not without the help of a child),
but I'm using the confirmation scan my passport with the date
of application I was able to restore access.

Well, another factor is the child, many children have an analytical mind, and
without the knowledge of the parents they use the parents' data. Parents be careful.

[NDABE ZITHA]

Hy

[Irvinn]

KYC verification is a very effective way of fraud by ICO teams in order not to pay bounty hunters to bounty hunters. It is enough to declare a KYC check and declare individually to everyone that he did not pass such a check. Especially a lot of problems brings to the bounty hunters checking KYC already at the end of the ICO. As a rule, information about the conditions for its conduct is announced in the Telegram, and there are hundreds and thousands of different messages, since the adoption of various decisions about the KYC verification procedure is stretched for months. All this needs to be re-read and not missed about such a check, which also causes a lot of problems and no one is able to correctly explain the order of its passing. In my opinion, this is also one of the reasons that bounty hunters leave this activity.

[thecryptodesigner]

I'm not afraid of it, but I will always pass nearby those projects that involve KYC.

It's just ridiculous how crypto-investors easily share their identities. Please stop that. This year 36,000,000 users passed KYC, from around 130,000,000 crypto users.

Do you wanna share your identity with another ICO? Me, not.

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[versprichnix]

I do not use it, because I believe in malignity of human mankind. Misusing KYC is about to escalate, by regulated companies and authorities.

One example: Bitstamp asked me about my relationship to other companies where I use Bitcoins. This question is not allowed, and for me they become criminals. They could simply ask questions to assists their own business, and nobody could hinder them.

My answer was: NO contacts, and because this answer was incorrect, they could simply take all my money after they have proven me wrong.

[thecryptodesigner]

I do not use it, because I believe in malignity of human mankind. Misusing KYC is about to escalate, by regulated companies and authorities.

One example: Bitstamp asked me about my relationship to other companies where I use Bitcoins. This question is not allowed, and for me they become criminals. They could simply ask questions to assists their own business, and nobody could hinder them.

My answer was: NO contacts, and because this answer was incorrect, they could simply take all my money after they have proven me wrong.

What do you mean they've asked you about "relationship to other companies"? That's a strange question from Bitstamp.

[versprichnix]

I do not use it, because I believe in malignity of human mankind. Misusing KYC is about to escalate, by regulated companies and authorities.

One example: Bitstamp asked me about my relationship to other companies where I use Bitcoins. This question is not allowed, and for me they become criminals. They could simply ask questions to assists their own business, and nobody could hinder them.

My answer was: NO contacts, and because this answer was incorrect, they could simply take all my money after they have proven me wrong.

What do you mean they've asked you about "relationship to other companies"? That's a strange question from Bitstamp.

Yes, question number 4 was exactly this:

4. Do you have an established relationship with any other bitcoin related services/exchanges? If so, which?

[Ozero]

Showing an honesty doesn't need to be afraid of, because if we're true to the people whom we're taking part of the project then it's not a serious issue. Besides, if you're not a criminal there's no need for us to be afraid of showing our legitimate identifications towards providing proof of identity. So be confident enough on answering serious questions for us, and in fact money transfers of fiat currency already implemented KYC so as crypto currency did lately.

The KYC check itself is not done in an honest way. In general, I believe that it is illegal in relation to bounty hunters, but if it is carried out, it should be given the opportunity to pass it simultaneously with joining the ICO bounty campaign, since there is no single form of passing such a check and some people are not able to provide all the required documents. If such a check is carried out at the end of the ICO, then some of the bounty hunters cannot pass it, and this is not fair to them. Moreover, what kind of honesty can be here, if in most cases we do not know to whom we send our identification data and copies of our passports and in many cases it turns out that we send them to fraudsters.

[phuonganhdpa]

It's correct. I hate KYC. I don't want to disclose my personal information to anyone. Some ICO even requested to provide personal address and proof. What do they need that information for? Any database may be stolen or sold to criminals. I will reject any ICO, which requires KYC.

[STT]

The KYC check itself is not done in an honest way. In general, I believe that it is illegal in relation to bounty hunters, but if it is carried out, it should be given the opportunity to pass it simultaneously with joining the ICO bounty campaign, since there is no single form of passing such a check and some people are not able to provide all the required documents. If such a check is carried out at the end of the ICO, then some of the bounty hunters cannot pass it, and this is not fair to them. Moreover, what kind of honesty can be here, if in most cases we do not know to whom we send our identification data and copies of our passports and in many cases it turns out that we send them to fraudsters.

KYC is very often not carried out fairly or with fair notice, that is a large problem.   If its levied like a demand over the participants who were not previously warned of such a requirement to being paid, it becomes a way to restrict payments which is not the real nature of KYC.     
Both parties should argue at the beginning of the campaign so its clear and open to all, that shouldnt have to be stated as a special case as its just fair play.      The fact nobody has drawn up proper procedure is unfortunate for everyone and gives a bad impression of the whole concept.