KYC is bullshit

[carlfebz2]

I don't have a problem with KYC  and  his nothing to fear.

I think you have never visited the dark web. The ids that you give to such ICO or bounties are usually found for sale at very affordable prices of 5-10$ and such ids are used for illegal activities which can land you in problem some day.

For those people who arent aware on the risk then this do explain on the possible things happen underground which informations being sent out into those people can be potentially be sold for some price.This is  even myself wont really easily comply with KYC process due to such risk and it sucks on how these regulations gradually scattered to be implemented.I do understand on what OP do feel about this situation which do really opposes cryptocurrency main point.

[Crypto Guru]

KYC is just extra work for companies and ICOs. Do they have a document/ information verification technology, to verify if the documents are original/ real or just photoshoped?

They are just keeping the Copy of docks. and information submitted by customers to show that we are in full compliance with KYC  ??
 

[labhsikh123]

KYC is logical and required field of progression. It depends on the regulations and saves from the fraud.

[burnchan]

Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

I believe that there is nothing to be scared or worry of if we have nothing to hide and we are earning crypto in a clean manner. In my own understanding, KYC is required to ensure that the people that we are dealing with are legally living in a certain country and not criminals. This is also one way to prevent money laundering. We always wanted freedom, but sometimes too much freedom would result to abuse. But anyway, if you are doing everything legally then there is nothing to worry about.

[Sandeep24]

I think it is a legal process to identify a person who is purchase/sale from digital voilet. In the digital technology there are many loopholes to break check points thats way it is very necessary for secure transction.

[TianaStam]

I'm not a newbie, but I have no idea what KYC is, could somebody explain me what the point about? Thanks.

[Kemarit]

I'm not a newbie, but I have no idea what KYC is, could somebody explain me what the point about? Thanks.

KYC (Know Your Client), one way of verifying their clients, so its either trading exchanges or gambling sites implementing it. One reason why we hate KYC is that crypto is supposedly (psuedo)anonymous and enforcing KYC defeats the whole purpose of decentralization. In the case of trading platforms, to be able to withdraw funds, you need to submit personal information, so they are acting like a banks now. As much as we don't like it, looks like its slowly happening and governments are really putting a lot of pressure on most exchanges now. Maybe one day we will everyone really requiring us to submit documents which is quite scary.

[drm]

Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

I believe that there is nothing to be scared or worry of if we have nothing to hide and we are earning crypto in a clean manner. In my own understanding, KYC is required to ensure that the people that we are dealing with are legally living in a certain country and not criminals. This is also one way to prevent money laundering. We always wanted freedom, but sometimes too much freedom would result to abuse. But anyway, if you are doing everything legally then there is nothing to worry about.

Good for you if you have nothing to worry about and have no problem exposing all your private information to unknown entities on the internet.
But most people joined crypto to avoid this kind of stuff, the fact that people freely give away their personal information (like you say you have no problem with it) is what has made it become this bad.

[Louise0910]

are you not happy of having KYC meaning slowly authority is in the process of of adoption and study how to regulate cryptos, in that case maybe someday mass adoption of cryptocurrency occur.

[dark1234]

Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

I believe that there is nothing to be scared or worry of if we have nothing to hide and we are earning crypto in a clean manner. In my own understanding, KYC is required to ensure that the people that we are dealing with are legally living in a certain country and not criminals. This is also one way to prevent money laundering. We always wanted freedom, but sometimes too much freedom would result to abuse. But anyway, if you are doing everything legally then there is nothing to worry about.

Good for you if you have nothing to worry about and have no problem exposing all your private information to unknown entities on the internet.
But most people joined crypto to avoid this kind of stuff, the fact that people freely give away their personal information (like you say you have no problem with it) is what has made it become this bad.

this system is a system that is advocated by many projects and exchanges in the world of crypto today, and I am not worried about this all because I am clean from criminal acts only I hope that third parties who handle the KYC system must be really reliable that can keep their data because the one in kwatirkan friends here is their personal data fear in the use of things that are not good

[RodeoX]

Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

It is not their fault. It is the law. Fortunately if we all get off our asses and demand change it will happen. Unfortunately, I see more ass sitting than ever. What you need to do cut the cord. Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.

[act now]

It can be deadly to participate in KYC procedure. Imagine that the information that you are actively working in the crypto-currency sphere will get to the gangsters... What will happen?

[richardsNY]

Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.

I like the old school mentality man, I wish more people here were like you. People have always been focused on fiat, but it only becomes worse due to the massive influx of newbies only looking to bank on crypto. For them a profit is only profit if they end up with more fiat in the end. They will have to expose themselves to all these regulations, and they will also keep complaining until they finally let go of that hunger for fiat profits. I too add more value to just hold my coins or to spend them in case there is something that I need. Great benefit of spending coins, at least for me (not sure about other countries), is that I can bypass tax restrictions legally. I buy with Bitcoin what I want, and then use fiat to buy back the same amount of coins that I spent.

[rat03gopoh]

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

That's right, bounty participants should not have to pass because they are not customers and do not need to sign up to their website. And even more annoying if KYC is needed at the end of the campaign for bounty participants while they do not announce at the start of the campaign.

[dunfida]

Why the fuck is everything requiring a fucking KYC now, Gambling sites don't even let you fucking withdraw without a fucking CIA style background check but they obviously let you deposit with nothing.

Bpunties used to be fun but now everything requires a fucking KYC.  NO I'M NOT GIVING MY PERSONAL INFORMATION OUT TO SOME FUCKING STRANGER OVER THE INTERNET!!!!!!!!!!!

THE WHOLE POINT OF CRYPTO IS TO STAY ANONYMOUS

It is not their fault. It is the law. Fortunately if we all get off our asses and demand change it will happen. Unfortunately, I see more ass sitting than ever. What you need to do cut the cord. Stop trying to switch back and forth between fiat and crypto. That will cost you a lot of money and REQUIRE YOU BY LAW to do KYC/AML. I spend my bitcoin and almost never have to bother with rules. Rules are for fiat, avoid fiat and avoid rules.

Simple and precise suggestion but we do know the fact that there are lots of people would really make such transaction where they do need to convert crypto to fiat due to common reasons.Exchangers would really need to comply government rules if they would like to exist, if they oppose then they wont be operational where same as you said its not their fault but the it would really be the law which do being implemented.If you dont like KYC then you would really be forced to adopt it if you dont have any choices left.

[BarryCrypto]

KYC, AML and CFT are necessary to protect the firm from not engaging in illegal activities and protect them from lawsuits

[Samarkand]

...
I like the old school mentality man, I wish more people here were like you. People have always been focused on fiat, but it only becomes worse due to the massive influx of newbies only looking to bank on crypto. For them a profit is only profit if they end up with more fiat in the end....

I agree with this post wholeheartedly. It is sad to see that many newcomers  only get into Bitcoin, because they hope
to realize some fiat gains. It would be much better for everyone if more people joined the Bitcoin community
that actually care about the project as an alternative to the current central banking system.

Maybe a prolonged bear market will shake out the people, who only looked for easy gains and will
ultimately lead to a healthier Bitcoin community.

[Bagaji]

Well, I see it as the right thing to do just like banks does whenever you want withdraw your money which you deposit with them they will start asking you for your mode of identity of which they will not ask any time you are depositing the money.

[Indrawan77]

I totally agree, crypto supposed to be anonymous, we are sick of being controlled and supervised by everyone, crypto supposwd to be giving us freedom to used and to store, kyc is just some excuse to weaken the crypto and we don't know how secure the data will be, its dangerous to submit our data to something that we are not familiar, so I am against kyc, and not all casino require kyc to withdraw try to play in bustadice, no kyc or whatever document is require to withdraw

[harnorno2]

If you have a clear conscience, why fear KYC? There is reason why ICOs do it, and it is because of the law and the rules in their jurisdiction. As cryptocurrency are getting readily adopted by the world, be ready for regulatory measures such as KYC / AML checks.