Regulations or Anonymity

[Pet240]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

[1714486090]

1714486090

[Herbert2020]

actually these two aren't really connected to each other and they are not two opposite sides! and the funnier part is that most people who debate these things are not exactly debating over these two topics. for example a lot of those who are talking about regulations are are for it, are like that because they think regulations will shoot up the price or eliminate scams not knowing that regulation doesn't do either one of these things! and those who are against it are like that because they think if some exchange was regulated then their anonymity is at risk! whereas it is not true at all. they already don't have any anonymity when they  use a centralized exchange whether it is regulated or not.

[NeuroticFish]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

Scams are possible mostly because people are greedy and jumps in without thinking. Full KYC could allow a new level of scams, like identity theft (just think: not all coin developers are very good).
Even anon coins do have the feature of auditing. Monero has something like view keys.

What I want to say is: KYC would not help and scams can be checked out even on anon coins with auditing.
So imho even the current "transparency" where everybody can see what's in your pocket is too much.

[ivaf]

I think the blockchain should remain anonymous. And decentralized. Otherwise, the idea is lost.
KYC should be carried out just for project organizers. Then the scam will be impossible since the scammers can be found and punished according to the law.

[Cnut237]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

Scams are possible mostly because people are greedy and jumps in without thinking. Full KYC could allow a new level of scams, like identity theft (just think: not all coin developers are very good).
Even anon coins do have the feature of auditing. Monero has something like view keys.

What I want to say is: KYC would not help and scams can be checked out even on anon coins with auditing.
So imho even the current "transparency" where everybody can see what's in your pocket is too much.

Agreed, and I'm pretty sure KYC scams are already happening. You do see 'airdrops' that require KYC... it would be a very bad idea to hand over your valuable personal information in exchange for coins that are likely worth a couple of dollars at most. Unfortunately scammers can rely on the KYC requirement giving them a badge of legitimacy.

[Ostonian]

If you tend to choose anonymity, then scammers from cryptocurrency can not be eradicated.
If you choose the rules, including the passage of kyc, then most likely the scammers will look for other vulnerabilities, for example, stealing our personal data while passing kyc.
To come to something right, you first need to make out whether it will work.

[erikoy]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

blockchain is designed with privacy and there is nothing wrong without it. THe only problem that needs attention is the anonymity. As we all know that many users even here in the forum that because of anonymity they were encouraged to scam, hack, and do fraud to others. This is the real problem so if only anonymity will be remove by regulating the users of cryptocurrency then it would be better. This will minimize the hacking, scamming and doing fraud.

[Piskeante]

we will have regulations, and with them THE END OF ANONIMITY.

Why?¿ the main purpose for crypto was to create a DECENTRALIZED system where people could gain money without others knowing it. This lead to the main problem of crypto. The moment you use money from your bank, to gain money ASIDE OF THE SYSTEM,you take out money from a regulated market where the government controls every penny you earn, to migrate to a system where noone can know how much money you put in that market, and how much money you gain unless you want them to know it.

Regulations are going against anonimity, by forcing almost ALL EXCHANGES to share information with governments so that they can know exactly how much money you invest and how much money you earn with that to be able to apply taxes.

Taxation is the worst scenario possible for crypto, since it implies directly the end of anonimity. if they can charge you with taxes, there is no anonimity in the transactions, and the final steps of your bussiness.

summing up: regulations will force the end of anonimity. Banks, governments and public services need to control your money so that they can survive, because they live with your money. The more control, the more money for them.

And this is why this market is dead, and btw, it should die.

[DeltaX]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

And that will remove the purpose of blockchain. But did you think the crypto is anonymity right now? Look at the fact that the centralized exchange site has been taking the main role and most of them have applied KYC and AML verification.

[labenea]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

Scams are possible mostly because people are greedy and jumps in without thinking. Full KYC could allow a new level of scams, like identity theft (just think: not all coin developers are very good).
Even anon coins do have the feature of auditing. Monero has something like view keys.

What I want to say is: KYC would not help and scams can be checked out even on anon coins with auditing.
So imho even the current "transparency" where everybody can see what's in your pocket is too much.

Agreed, and I'm pretty sure KYC scams are already happening. You do see 'airdrops' that require KYC... it would be a very bad idea to hand over your valuable personal information in exchange for coins that are likely worth a couple of dollars at most. Unfortunately scammers can rely on the KYC requirement giving them a badge of legitimacy.

yes I think it's clear, that someone who does KYC for airdrop is very stupid just because they expect a small amount of dollars, in fact various ways of scamers in processing crypto make some people believe, actually it's very bad behind them and that certainly does not guarantee privacy security. but strangely they always hope from airdrop.

[premiumproductss]

I vote for Anonymity. I agree that we have to fight with the scams, but it is because there is zero adoption, small market, after we pass this "adoption stage", there will be less scams and only high-quality projects will exist, these projectes will be selected by the community and managed by the community - that is true point of decentralization.

[testadimerlo]

I think that the blockchain is a tool that allows you to do both. Perhaps with regard to speculative investments it's normal to expect some regulation, especially when the amounts grow. On the airdrop, on the other hand, I have many doubts.

[rosezionjohn]

I do not know if there will come a time that everything will be regulated.
I believe some will be regulated  while others will still remain anonymous.
Regulations usually apply to ICOs, not on bitcoin and other projects that didn't need to secure funding from the public.

[batang_bitcoin]

Anonymity for transactions and regulation for exchanges that operates locally.

Many are subject against KYC because they are scared that their data will be hacked which is of a trend right now. Regulations strengthens the validity of exchanges and its users but it doesn't guarantee that prices will increase. People like to attest regulations because of the belief that it will increase prices.

[silverleafy]

Anonymity for transactions and regulation for exchanges that operates locally.

Many are subject against KYC because they are scared that their data will be hacked which is of a trend right now. Regulations strengthens the validity of exchanges and its users but it doesn't guarantee that prices will increase. People like to attest regulations because of the belief that it will increase prices.

Regulations should bring institutional investors, that is why people believe that regulations will help increase the price of cryptocurrencies. But I think, that regulations will decrease the volatility and is that good? No another 10x,100x in the future? 

[martin1221]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

When I started in crypto, the one thing that attracted me is the anonymity of my transactions. doing trading and investing in ICO without disclosing my identity. But when the presence of scammers and their scam ICOs has been all over the marketplace, I felt, regulations would be a solution to this. Investors must somehow be protected also for the industry to thrive.

[Vit83]

These two have been topics of debates for quite some time. Some want Anonymity, while others want Regulation. Either of these two will work best for us.
It will get to a time that we just have to choose between Regulations and Anonymity.

In my opinion:
If blockchain  is redesigned without privacy, everything will work fine. Full KYC will make scams impossible.
What is your take on this?

We need KYC just for ICO team, only this can help to avoid scum in ICO. What the difference who own utility tokens)? But all admins must show their faces)

[ereborltc]

I think that the project party initiated by ICO should be subject to government supervision, so that the scam will be avoided.

[btc_angela]

This has been a on-going debate for quite some time now. I guess crypto ecosystem will have to evolved one time or another. I think it has started already btw, so regulations and KYC will be the thing of the future for crypto, whether we like it or not, imho.

[Pithaxz]

many people say the superiority of blockchain technology is because the anonymity of every user who makes a transaction is difficult to track but there are also negative points that can be misused to transact illegal trade and regulations are also important to avoid fraud because this is related to money especially investor confidence is starting to decline when investing with ico. this in my opinion is complementary to each other and I hope that regulations are prioritized to reduce the population of scamers.