Idoe
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September 28, 2018, 03:04:29 PM |
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If KYC is really important to get bitcoin, then I will not worry about KYC. I think KYC is needed to reduce fraud or multiple accounts.
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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LittleMermaid
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September 28, 2018, 03:35:24 PM |
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KYC is basics, if you have no problem with the law or smth, what to be afraid about?
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Crypto_topic
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September 28, 2018, 07:12:02 PM |
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KYCs are not the problem here. The problem I see is where you are entrusting your information to. Because their are certain ICOs that will only fish out your information as it has more value for them rather than the token they are creating. KYCs are a requirement of some countries' government as it is their way of regulating or being in touch with their citizens. What I would normally do before trusting my personal information to other entities such as ICOs or even exchanges I will research on them if they have a good background.
Thats exactly my point, check where you submit your data, else I doubt you can participate in any ICOs or trading without KYC. I would even doubt the ICO if its without passing KYC and no AML prevention. Recently and soon all ICOs and already all trading platforms require KYC. But for example, the European Union has the General Data Protection Regulation since May 25, 2018, that regulates the data usage and protection, the basic principle of which is that Data should be deleted when it is no longer needed for the stated purpose, so no third party to keep the data after KYC done. |
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Hidden_Tycoon
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September 28, 2018, 07:17:27 PM |
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KYC is basics, if you have no problem with the law or smth, what to be afraid about?
People afraid of their data to be passed to third party. Thats not about being criminal. Also to avoid multi accounts and prevention of money laundering. Also to avoid underaged to participate in Token sales and also restrictions for USA citizens are exists for security tokens, to avoid the consequences the ICO management do so. |
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lissaoc
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September 29, 2018, 01:26:25 AM |
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n way we not afraid for the required KYCs i think its good for our security
I do not understand how it can be good for security that you transfer your personal data and copies of your documents directly into the hands of scammers? According to statistics from 902 ICO projects, a third turned out to be scammers. Even if a company that conducts an ICO and is registered in a country where it is required to conduct a KYC audit, this does not mean that such a company will not later be fraudulent. i actually get your point but KYC is for the company so that they know that you are real and not some scammer that would just buy and probably do something afterwards. |
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beami
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VANM - VIRAL ADVERTISING NETWORK MINING
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September 29, 2018, 07:46:01 AM |
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n way we not afraid for the required KYCs i think its good for our security
I do not understand how it can be good for security that you transfer your personal data and copies of your documents directly into the hands of scammers? According to statistics from 902 ICO projects, a third turned out to be scammers. Even if a company that conducts an ICO and is registered in a country where it is required to conduct a KYC audit, this does not mean that such a company will not later be fraudulent. i actually get your point but KYC is for the company so that they know that you are real and not some scammer that would just buy and probably do something afterwards. In this way, it is true that KYC is needed for a proof that the exchange was indeed carried out. So there is no need to be afraid or suspicious of the KYC. All is done to reduce fraud that is happening. |
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bryant.coleman
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September 29, 2018, 09:59:04 AM |
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There are multiple risks associated with KYC. We are uploading the scanned copies of our passports and national IDs to these unregulated exchanges. What is the guarantee that the exchange promoters will not sell them to hackers?
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saaux
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September 29, 2018, 05:19:58 PM |
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ico that has KYC is pretty much demanding but it is better for us and for the project itself. to us because we secured our tokens available. because they can not be scam or be duplicated by tokens to their ico partners.
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Netnox
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September 30, 2018, 02:20:38 AM |
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ico that has KYC is pretty much demanding but it is better for us and for the project itself. to us because we secured our tokens available. because they can not be scam or be duplicated by tokens to their ico partners.
How this is going to be beneficial for the ICO investors? Please enlighten me. I am not very keen in providing my ID information to relatively unknown people. If anyone needs to submit their ID documents, then that should to be the ICO promoters. |
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LittleMermaid
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September 30, 2018, 09:47:01 AM |
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KYC is something that guarantees our safety, how you can be afraid of that
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MULTIK888
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September 30, 2018, 01:33:50 PM |
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I expressed my opinion on the provision of your documents for the KYC in my topic on the forum. Categorically against this and I think that it is unnecessary when investing in projects. Read here: https://bitcointalk.org/index.php?topic=5030043.msg45783618#msg45783618 |
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East2011
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"Reserve Your Ledger at GYMLEDGER.COM"
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September 30, 2018, 10:37:07 PM |
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KYC is something that guarantees our safety, how you can be afraid of that
I think KYC is not guarantees our safety. Because we are exposing our identity to other people. And they can take advantage into it. And there are allot of bounty hunters who don't get their rewards because they don't fill the KYC. |
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brr22
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October 06, 2018, 05:21:46 PM |
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I’m strongly opposed to third-party resources knowing my personal data, firstly, while reading Internet news, I often see that even large social networks merge data into free access, and secondly, damn it! Is crypto anonymous?
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CoinPocket
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October 06, 2018, 07:25:38 PM |
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I don't really afraid to expose my identity. There're no ways to avoid KYC in modern society.
Some things in the world having dark and bright sides. The dark one is that there's a risk that your datas will get into third parties hands.
The bright one is that KYC can be some sort of garantee that exchanges and projects gonna function properly.
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LeGaulois
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Top Crypto Casino
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October 07, 2018, 01:53:31 PM |
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I am not afraid of KYC verification, at least when dealing with cryptocurrencies. We have a lot of alternatives with decentralized exchanges, so if you're afraid then look to use the DEX and you're good to go.
In the opposite when it's about banks I am tired of, they ask ridiculous questions like what is my monthly revenues and/or when the money comes from. I have even met a bank refusing Cash deposits
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ethereumhunter
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October 08, 2018, 07:06:10 AM |
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I am not afraid KYC but only if my document used for the legal things. I am worried if my document will be used for something that I don't know because we don't know what is their purposes to ask our document. But in the exchanges, I think it is fine if we need to send the document to make our account to become verified because they want to know who is their customer. I think in the local exchange, we need to send the document too because the government wants to know who are the people that join in that exchange. But for the ICO, I am too afraid to send any document because we don't know what they want to do with the document.
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cetald
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October 08, 2018, 02:39:28 PM |
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If I, as an investor, trust the project team my money, then I can entrust my personal data to them. I think this is logical. Therefore, I am not afraid of the KYC procedure.
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Soots
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October 08, 2018, 03:17:24 PM |
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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.
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Escan0r
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October 09, 2018, 03:31:03 AM |
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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?
Actually, if you don't do anything breaking the law here, that will be okay. KYC is only to help that person who wants to know where we are from. If there really are people who want to abuse our identity who have done the KYC procedure it might be a disadvantage for us. It's dangerous if there are people like that use our identity for their own problem, because they can slander us even though we don't do that. |
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Zaibraid
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October 10, 2018, 08:04:19 AM |
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To this day, I am still surprised by the ICO organizers who ask their buyers to do KYC with very important documents such as passports or residence identities, the reason is only to prevent suspicious investment activities, such as corruption or suspected funding of terrorism, some have evidence this violation? I feel this is all just an issue. And my choice will still be careful to do KYC
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