Trade Your Privacy to ₿itcoin?

[julerz12]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

[wheelz1200]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

I think in many cases most of us have given out our details at some point in time.  I dont think going forward you can 100% remain anon if you want to be engulfed in the crypto market.  Going forward most of the 1st world countries will require some oversight into crypto dealings at some point.  So yeah I would but not to every new website that pops up asking for kyc

[aardvark15]

Yes I gave a lot of info to Coinbase to buy Bitcoins. However, even though Bitcoin is not completely anonymous in this way, it does allow me to take those Bitcoins and move them to a private wallet where I can store them without using a bank.

[Ucy]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

BTCitcoin - pronounced BT-citcoin? Or you mean Bitcoin?
No.  It can be scary sending ones private data to strangers online.
Well, I may consider doing that if I fully understand how my stuff will be handled, including knowing the penalties for mishandling them. Most people don't care too much unfortunately

[Lucius]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?

In short, NO, because the misuse of personal data is one big problem and I personally try to avoid it at all costs. I personally have very good buying or selling options without KYC (for now), but I understand that others have no choice if they want to buy/sell BTC.

I think that many users in this forum show how far they are willing to go to earn a few $, they give all their information just to participate in the bounty, and completely ignore the risks arising from such practices.

I know some people who are become victims of their personal data abuse, and I can only say that it is a real nightmare that can destroy people not only financially but also psychologically.

[msarro]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

My obvious reasons for not sharing my name, location and other credentials is that bitcoin usage is not allowed in my country.
Secondly, anonymity is one of the key feature of cryptocurrency. A compromise on that means we are willing to go back to centralized payment systems.

[panganib999]

Can you clarify what giving out personal details for BTC mean? I mean, if someone were to give me BTC just to know my personal details, let's say name age, I'd go for it. Heck, we already did KYC to exchanges so that they could allow us to trade BTC to them and from them. But there should be a personal limit to it. Let's say, my address is off limits, my Birth certificate ID is off limits, stuff like that. You know, information about you that could be specifically used against you, or could be used to take advantage of you. Plus, there'd have to be a legal document stating that the usage of my personal information would not conflict in the boundaries of the law, and would only work with it, not against it(law).

[jakelyson]

In the Philippines, most coins.ph users already traded their privacy because of KYC. And if you are processing large amounts, your account will be flagged for video interview and show of proof of income. Coins.ph is the most convenient way to convert bitcoin to PH peso and vice versa. In a way, we have to comply and trade our privacy because we badly need their service.

[liuqi]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

I never do those stupid steps to get the Bitcoin or any other things because already many data mining and data pulling companies available in this world and trace the many people location and personal information.
Once they learn they will get details from the data minting company, next their selling the details to the onion browser gangs.

[LeGaulois]

People don't care about their privacy. On Bitcointalk there is a good example, you can see a good number of users praising privacy tools, currencies, and so on but they gave any personal info to exchange platforms for a few bucks, like coinbase that give $10 for I don't know what apprenticeship program. Even selfie, I'm sure if they ask their underwear size they will run to give it too.
It's no different than when you see them saying Bitcoin needs regulations for the mass adoption, I start to see them now crying because Bitcoin is being regulated here and there.
I find it ironic considering Bitcoin is a tool that gives us the ability to remain (pseudo) anonymous.

Can you clarify what giving out personal details for BTC mean? I mean, if someone were to give me BTC just to know my personal details, let's say name age, I'd go for it. Heck, we already did KYC to exchanges so that they could allow us to trade BTC to them and from them. But there should be a personal limit to it. Let's say, my address is off limits, my Birth certificate ID is off limits, stuff like that. You know, information about you that could be specifically used against you, or could be used to take advantage of you. Plus, there'd have to be a legal document stating that the usage of my personal information would not conflict in the boundaries of the law, and would only work with it, not against it(law).

It's not only about trusting a 3rd party and to be afraid to have your information sold/hacked it's also about Big data.
It's like with the loyalty card programs from the supermarket, they can know you and your family better than you. They know when your wife has her menstruation, they know what your children eat, how many showers per day you take, etc, etc. You can imagine a lot of stuff

[G00DFe77a]

Your private info is already being sold all over the place without you knowing. If there was an opportunity to monetize your own data the way that Google sells everything they know about you, probably want to look into it.

[exstasie]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

To an extent. I completed KYC at Bitstamp and Coinbase years ago.

I limit the number of exchanges I do business with for this reason though. I appreciate my privacy and I don't want my tax ID# and documents being compromised by careless exchanges. So I use altcoin and derivatives exchanges that don't require verification.

[X-ray]

You will temporarily possess bitcoin meanwhile your data will be saved by them forever. the case with KYC is that you are giving away your data for the sole purpose of complying with the AML program. Though, your data could be collected by the exchange if they are shady enough but if you are giving away your data for example to a phishy airdrop it's the same as selling yourself.

[tippytoes]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?
I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

To an extent. I completed KYC at Bitstamp and Coinbase years ago.

I limit the number of exchanges I do business with for this reason though. I appreciate my privacy and I don't want my tax ID# and documents being compromised by careless exchanges. So I use altcoin and derivatives exchanges that don't require verification.

I have had completed KYC requirements to several exchanges as well because to trade specific coins that are within their trading system, I have to comply their requirements. And I think, we have no choice one way or another. Because if you wanted your precious bitcoin to be in your fiat currency, very few options that you won't need to do the KYC. However, I carefully chose those exchanges and I also did research if that exchange is legit in the first place. But for some small exchanges asking for KYC, definitely no! One should know where you submitted your vital docs so in case something goes wrong in the future, you can easily pinpoint where it is coming from.

[mu_enrico]

 With all due respect to the OP, I think this thread might be more suitable to be discussed on the Bitcoin discussion.
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Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?

I think selling private information is not new. People might sell more than address, name, etc. for money. They might sell their soul, kidney, sperm, etc., as long as the price is right.

For KYC, IMO people from 3rd world countries might be satisfied with a mere $50.

[julerz12]

With all due respect to the OP, I think this thread might be more suitable to be discussed on the Bitcoin discussion.

Yes. Moved.

They might sell their soul, kidney, sperm, etc., as long as the price is right.

I kinda laughed when I read this but yes, it is true. Although we can't really blame them for doing something similar with their privacy in exchange for a few Bitcoins.
Most people who does this usually don't have many choices, their need for privacy out weights their need to earn BTC.

For KYC, IMO people from 3rd world countries might be satisfied with a mere $50.

Yes, it might be a mere $50 for some, but for those who are on these 3rd world countries, it could be worth their whole day meal.
In the end, I guess it boils down to how much does someone values their privacy. If they could live without it and have BTC in exchange, they'll go for it without any hesitation.

[angrybirdy]

They might sell their soul, kidney, sperm, etc., as long as the price is right.

I kinda laughed when I read this but yes, it is true. Although we can't really blame them for doing something similar with their privacy in exchange for a few Bitcoins.
Most people who does this usually don't have many choices, their need for privacy out weights their need to earn BTC.

We all know that there are really some people who will do everything in terms of earning. Even their privacy will be put aside just to earn. Aside from the reason that they don't have a choice, this is the only way they know how to earn.

For KYC, IMO people from 3rd world countries might be satisfied with a mere $50.

Yes, it might be a mere $50 for some, but for those who are on these 3rd world countries, it could be worth their whole day meal.
In the end, I guess it boils down to how much does someone values their privacy. If they could live without it and have BTC in exchange, they'll go for it without any hesitation.

Yep, actually $50 is meaningful even in my country, not only a whole day worth of meal but it can last for days depends on how to spend it.
I do agree, it really depends on how you value your privacy in terms of needs in life.

[btc_angela]

Would you be willing to trade your location, name, and any other private and personal details over BTCitcoin? Yes? No? Why?

To be honest, I've like submitted to three exchanges so far. One for a local exchanges. And two exchanges that I need to pass KYC so that I can dump my tokens back then. But the thing is, the project suddenly says that they're no longer going to list their tokens in that exchanges.

I know many of us have already submitted countless documents to various cryptocurrency exchanges just to pass their KYC process and comply with AML but how far would someone be willing to give up just to get a part of that precious BTCitcoin?

I guess the question is that with the advent of new regulations, sooner or later everyone will have to send and submit their info for KYC/AML. So what choices do you want? Of course there are DEX, but I'm sure more are trading in a CEX wherein KYC might be enforce.

[blckhawk]

Definitely no. If you're talking about I already gave KYC documents, it's a different thing. Since exchanges hold some responsibilities and privacy policies of their own, whereas giving details on someone you don't know in the internet in exchange for BTC is extremely risky. It could be used on a wide variety of risks such as identity theft. And one also thing to note is that the amount you received might be smaller than the damage it would deal to you once you get involved with some problems from spilling your information.

[Pamadar]

Definitely no. If you're talking about I already gave KYC documents, it's a different thing. Since exchanges hold some responsibilities and privacy policies of their own, whereas giving details on someone you don't know in the internet in exchange for BTC is extremely risky. It could be used on a wide variety of risks such as identity theft. And one also thing to note is that the amount you received might be smaller than the damage it would deal to you once you get involved with some problems from spilling your information.

That counts, if how much you receive than the amount of damage to expect. Knowing that you are going to provide you personal information and allow
others to possibly use your data doing illegal things.
For small amount of money, never risk your privacy, it's better to keep you private and safe than being targeted by hackers and scammers.