Exchanges want to be Banks and LocalBitcoins demands KYC verification!!

[Kprawn]

So where is this going to stop?

https://coinfrenzy.io/coinbase-federal-banking-license/
&

https://oracletimes.com/localbitcoins-demands-know-your-customer-kyc-verification-to-buy-or-sell/

If all the services close down pseudo anonymous trading methods, where will that leave the people who wants pseudo

anonymity? Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services

are turning their backs on that vision and are bending over to governments and their regulations to identify people behind

Crypto currencies. Should we just abandon pseudo anonymity and financial freedom like that or should we continue fighting

for that?

[Kakmakr]

I think you are misunderstanding the reason why they are doing this, because they do not want to do this. They have to do this or they will have to close their doors. People already saw this happening a few years ago and started to work on decentralized exchanges that cannot be shutdown by these governments.

Also, people already established trustworthy trading networks before this happened, so they will just continue using this to trade. There are also forums like this with Escrow services, where you can trade bitcoins without these KYC/AML regulations. ^smile^

[bL4nkcode]

There's nothing they can do about this since the government want them to do it or else their service and the site will be shutdown which is they don't to want to happen. So the best option of person who don't want to disclose their personal details for the KYC requirements is to use an decentralized exchange but the thing is, this decentralized exchanges are bit not secured or somethings buggy and isn't user-friendly at all.

[Kprawn]

There's nothing they can do about this since the government want them to do it or else their service and the site will be shutdown which is they don't to want to happen. So the best option of person who don't want to disclose their personal details for the KYC requirements is to use an decentralized exchange but the thing is, this decentralized exchanges are bit not secured or somethings buggy and isn't user-friendly at all.

There is definitely something they can do about that, they just ban Crypto currencies and when you do not declare your

income and if you cannot explain the income when they do a audit on you, then they lock you up in jail. You can use

whatever service you want {centralized or decentralized} but in the end, you still have to explain this income to the tax

authorities. 

[eaLiTy]

If all the services close down pseudo anonymous trading methods, where will that leave the people who wants pseudo anonymity? Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services are turning their backs on that vision and are bending over to governments and their regulations to identify people behind Crypto currencies. Should we just abandon pseudo anonymity and financial freedom like that or should we continue fighting for that?

These regulations are expected because what governments wants is to have a control over the flow of money, decentralized exchanges will be the future but we need good user friendly and secure exchanges as most of them are in the testing phase and hence it is prone to hack. You can purchase bitcoin over the counter away from government eyes and you can still trade with decentralized exchanges without the government monitoring you all the time. You will have your financial freedom as you do not want to pay the taxes for the amount of wealth you hold in cryptocurrency unless you convert them to fiat currency.

[Kprawn]

If all the services close down pseudo anonymous trading methods, where will that leave the people who wants pseudo anonymity? Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services are turning their backs on that vision and are bending over to governments and their regulations to identify people behind Crypto currencies. Should we just abandon pseudo anonymity and financial freedom like that or should we continue fighting for that?

These regulations are expected because what governments wants is to have a control over the flow of money, decentralized exchanges will be the future but we need good user friendly and secure exchanges as most of them are in the testing phase and hence it is prone to hack. You can purchase bitcoin over the counter away from government eyes and you can still trade with decentralized exchanges without the government monitoring you all the time. You will have your financial freedom as you do not want to pay the taxes for the amount of wealth you hold in cryptocurrency unless you convert them to fiat currency.

Yea, I guess if you want to stay pseudo anonymous, you will have to stay away from fiat. The other problem is, most of the

Merchants are centralized services too and some companies are just front companies for the NSA and a honey trap for other

agencies. You might go under the radar if you buy the odd sub $100 item for a while, but for larger purchases, you will have

to go through all those KYC & AML stuff. 

Why do we have to go through all this shit to survive, but Cash is pseudo anonymous. 

[Raggie]

So where is this going to stop?

https://coinfrenzy.io/coinbase-federal-banking-license/
&

https://oracletimes.com/localbitcoins-demands-know-your-customer-kyc-verification-to-buy-or-sell/

If all the services close down pseudo anonymous trading methods, where will that leave the people who wants pseudo

anonymity? Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services

are turning their backs on that vision and are bending over to governments and their regulations to identify people behind

Crypto currencies. Should we just abandon pseudo anonymity and financial freedom like that or should we continue fighting

for that?

if every exchanges require kyc, then there will be no room for anonymity.
everyone will can be tracked by their exchange address. maybe the government do this due to security reason.

[eddie13]

TuxExchange.com still has NO KYC, you can come straight from TOR with as much of whatever crypto you want and leave with whatever you want at any time, no questions asked..
You only have to verify your email and I think it can be any email.. 

According to Canadian law it is not required since Tux does not list any fiat currencies..
Their company and ownder/devs identities are legally registered in Canada..

It could be a GREAT exchange if more people would use it..

[ManaMan]

So where is this going to stop?

https://coinfrenzy.io/coinbase-federal-banking-license/
&

https://oracletimes.com/localbitcoins-demands-know-your-customer-kyc-verification-to-buy-or-sell/

If all the services close down pseudo anonymous trading methods, where will that leave the people who wants pseudo

anonymity? Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services

are turning their backs on that vision and are bending over to governments and their regulations to identify people behind

Crypto currencies. Should we just abandon pseudo anonymity and financial freedom like that or should we continue fighting

for that?

It's not what satosi wanted. He is not here anymore. I hate it when people say satoshi this satoshi that, yes he/she/they went this way but satoshi is not here. Which means those statements are BS. What is happening is happening I am sure LBC have reasons behind this as they might fee the pressure from regulative bodies to do this. With companies ALREADY DOING ANALYSIS of the bitcoin blockchain you can say goodbye to privacy. Closing down LBC won't make it impossible to buy in the pseudo anon way but it will be harder to find another person, yes. Transparency is great but yu always have tradeoffs as some people will use it for their advantage.

TuxExchange.com still has NO KYC, you can come straight from TOR with as much of whatever crypto you want and leave with whatever you want at any time, no questions asked..
You only have to verify your email and I think it can be any email.. 

According to Canadian law it is not required since Tux does not list any fiat currencies..
Their company and ownder/devs identities are legally registered in Canada..

It could be a GREAT exchange if more people would use it..

You have also services like changer, shapeshift and many others which might not have the best rate but they don't even require you to verify your email address.

[stompix]

TuxExchange.com still has NO KYC, you can come straight from TOR with as much of whatever crypto you want and leave with whatever you want at any time, no questions asked..
You only have to verify your email and I think it can be any email.. 

According to Canadian law it is not required since Tux does not list any fiat currencies..
Their company and ownder/devs identities are legally registered in Canada..

It could be a GREAT exchange if more people would use it..

And, what to exchange there? Coin that you have to get from others exchange which accept fiat !!!
You're missing the point of the problem.

99% of people out there have FIAT and want to get into crypto.
Most of them don't give a damn about KYC but those that do are having less and less options to purchase coins anonymously.

Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services
are turning their backs on that vision and are bending over to governments and their regulations to identify people behind Crypto currencies.

I'm not sure that Satoshi wanted this but still, you're comparing apples and oranges.
You have anonymity purchasing stuff with cash, but you never had anonymity when changing your cash from usd to euros for example. Nor had you anonymity when you received your paycheck.

Yeah you can buy a bottle of coke anonymously with cash, the same stands for some stuff you can buy with BTC.
There is no difference there.

Once you start using your money to do financial transactions, cash was never the solution for it.

[Kprawn]

TuxExchange.com still has NO KYC, you can come straight from TOR with as much of whatever crypto you want and leave with whatever you want at any time, no questions asked..
You only have to verify your email and I think it can be any email.. 

According to Canadian law it is not required since Tux does not list any fiat currencies..
Their company and ownder/devs identities are legally registered in Canada..

It could be a GREAT exchange if more people would use it..

The problem is that FIAT is the onramp onto Bitcoin for beginners. Not a lot of people are confident enough to buy coins on

other P2P platforms that are unregulated. They still looking for that centralized authority that would fight the battle for them

when things goes wrong. Many of these exchanges even used some of their own money to reimburse people, when they got

hacked. Decentralized exchanges are more difficult to use and some even ask a "Entry" fee to keep as collateral for their

dispute resolution process and this place a barrier to entry for those services too. {Example : BisQ}

[VitKoyn]

So where is this going to stop?

https://coinfrenzy.io/coinbase-federal-banking-license/
&

https://oracletimes.com/localbitcoins-demands-know-your-customer-kyc-verification-to-buy-or-sell/

If all the services close down pseudo anonymous trading methods, where will that leave the people who wants pseudo

anonymity? Satoshi wanted people to have the same level of anonymity as people who used fiat cash, but third party services

are turning their backs on that vision and are bending over to governments and their regulations to identify people behind

Crypto currencies. Should we just abandon pseudo anonymity and financial freedom like that or should we continue fighting

for that?

It is because of the regulation, and we all know that KYC policy is one of the rules that exchanges should follow to be able to continue to operate on a country that had implemented a rules/law about cryptocurrency. We are selling and buying cryptocurrency with fiat, so the government will enter here to protect their currency and to prevent being used on illegal activities and of course they want to have the control because it is all about money. Should we abandon pseudo anonymity? I think there are still some ways that we can use cryptocurrency anonymously, the only time that anonymity will be gone is when we use a centralized exchanges. We can also buy cryptocurrency anonymously by person to person transaction like what most people do here in the forum.

[dalvitka]

I think this will happen, because every government or bank wants to control it. Anonymous elements will be detrimental to them.