KYC is bullshit

[zahed]

I think KYC is not bad thing for bounty & token sale because some bad people always try to spamming in everywhere.KYC just helping to identify fraud people i think it's more effective.But i support KYC only for if it look like legitimate project.

[1714874132]

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[1714874132]

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[hongtham]

I do not think so.
I do not think KYC is childish
It does not matter.
Why pay attention to KYC do?
Just a form of identity verification

[reda]

I do not think so.
I do not think KYC is childish
It does not matter.
Why pay attention to KYC do?
Just a form of identity verification

Now most of the people don't know the KYC (Know Your Costume). Most of the process ask the people KYC document. So don't share the your KYC other person. If need to send for some process. First check the website. Then send it. Nowadays toke sell it will be ask for the KYC document. If you know it trust one. Then send it and complete the process. Finance and most of the complete get the people KYC document. If apply any loan KYC important. So KYC in careful to use. KYC is your personal information. So safely share.   

[darkangel11]

Now most of the people don't know the KYC (Know Your Costume).nt. So KYC in careful to use. KYC is your personal information. So safely share.  

Now this is something new. In a way you are right, you should know your costume. You wouldn't want to end up like that poor fat batman.

I think KYC is not bad thing for bounty & token sale because some bad people always try to spamming in everywhere.KYC just helping to identify fraud people i think it's more effective.But i support KYC only for if it look like legitimate project.

How does KYC help reduce spam? You guys are writing so much bullshit in these threads.
You would want every single bounty manager to know who you are because you might end up being a spammer? And what is he going to do with your ID once you start spamming? Send you a letter of complaint?

[truefact12]

If you can’t or don’t like to pass kyc I will do it. Please write me for more information pm.

[IMF]

Kyc is quite complicated, I do not like this situation very much, because it can be dangerous. I do not understand why to do this.

[Snaic]

KYC is a legal process and it ensures the owner that you are not a scammer or illegal buyer

Checking KYC does not guarantee anything to anyone. I still understand the introduction of such a check on stock exchanges and exchangers in excess of any minimum transaction size. However, tell me who came up with the right to carry out such a check to the ICO teams, who in almost half the cases themselves are fraudsters themselves and do not pass any checks at all? Is this a mockery of the crypto currency and deliberate discrediting it, then to show how risky this activity is? Now many fraudulent ICO teams are running away, not only with the millions of dollars collected by investors,
but also with their personal data. Who here guarantees what? This is utterly absurd.

[coincruncher1982]

KYC is BS.

People need to wake up and stop blindly trusting their governments.

Well said man. The number of sheep out there is insane.

[Coffee135]

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

Cryptocurrencies can be used anonymously now. But this feature ends after you use Fiat exchange operations. It is not surprising that banks and governments require personal information. I think that will pass few years and such demands will everywhere. Even if you do not provide any data about yourself, you can always be tracked by transactions in the blockchain.

[Vitalik1985]

I have no problems with KYC. These are just limitations of fraud.

[Samuel321]

am on your sideon this one get free token with no kyc https://www.bidium.io/ref/opeyemijayeoba321

[fuding12]

Well ... I am also wondering whether the application of KYC in cryptocurrency is correct. Because I was very hesitant when trying to provide information my personal data, because I was afraid if my personal data can be used for negative things by irresponsible parties.

[carlfebz2]

KYC is a legal process and it ensures the owner that you are not a scammer or illegal buyer

Checking KYC does not guarantee anything to anyone. I still understand the introduction of such a check on stock exchanges and exchangers in excess of any minimum transaction size. However, tell me who came up with the right to carry out such a check to the ICO teams, who in almost half the cases themselves are fraudsters themselves and do not pass any checks at all? Is this a mockery of the crypto currency and deliberate discrediting it, then to show how risky this activity is? Now many fraudulent ICO teams are running away, not only with the millions of dollars collected by investors,
but also with their personal data. Who here guarantees what? This is utterly absurd.

This is the risk thats why it do really sucks out because on investors side theres no assurance on how we would able to recover it up not only on the funds stolen but also into the informations accumulated by them. KYC is bullshit yet this is contrary on the actual theme of crypto but somehow having these verifications do put some confidence on some investors because they do saw project is looking forward to avoid frauds but not totally and assured thing.

[Greenkarki]

Its risk taking giving out the personal documents to an unknown person. None can be trusted. But there are legit ICOs who do ask for documents. Here yes we can handover trusting on the projects they have taken over, read the road map, white paper, budget allocated, team members profile and etc will determine the legit ICOs. Few countries do not entertain ICO into their countries as their citizens have been cheated and it realy affected the economy. This is the main reason ICOs request for KYC.

[Lampaster]

Once the Internet is available, you cannot rely on the confidentiality of your personal data. Without providing this data, you do not know where it will be stored and who will have access to it. For example, you trust the banks? Any Bank clerk has access to accounts and customer data. The human factor is everywhere.

[BitNaija]

This environment "ought" to be anonymous as you rightly pointed out. Yes, anonymous for humans. It was not meant for robots. Most kyc is to remove robots from participation. Also, cheats use multiple accounts. With kyc, it is in keeping to one man one account.

[MCVXYZ]

I’d say this post doesn’t belong to meta section but I don’t know where it exactly fits.

KYC comes with cryptos becoming popular, widely used and regulations. I find it naive to think that bitcoin, or any other crypto, is going to be the currency of the future and it will remain 100% anonymous.

I don't usually answer to the old posts but I want to say that this right which have us,bitcoin holders  is not unlimited,If there are legitimate,proportional  basis and purposes from investigative authorities they can make  pseudoanonymous  cryptocurrencies anonymous to protect another legal right,So they have constitutional right which also may be part of the international agreements.What about KYC I think its not a bullshit if creators use it properly and if they don't use it for their bad aims.

[Oasisman]

Once the Internet is available, you cannot rely on the confidentiality of your personal data. Without providing this data, you do not know where it will be stored and who will have access to it. For example, you trust the banks? Any Bank clerk has access to accounts and customer data. The human factor is everywhere.

Agreed! Even when using the social media, we are.already exposing a little of our information.
Everyone knows how much of burden the KYC has given to us. But, on the brighter side, KYC procedures can protect investors and ICO's from illegal activities. Only thing that bothers us is, we are giving out our essential information over to someone we dont know and the risks of your identity to be stolen is high.

[izanagi narukami]

If you believe that the current project is promising than it's ok to give your kyc because every projects getting evolve to provide giving services.
I'm under that crypto must stay anonymous but it's your choice whenever you still want to involve crypto project or not

[BarryCrypto]

KYC, AML and CFT are a way for companies to protect themselves from legal consequences. If the company engages in AML by selling tokens to the wrong person the company could be shut down, so they need to prove where funds are coming from and who has contributed or received tokens.