Bitcoin and crypto currencies are getting dangerous

[famo457]

I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.

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[pooya87]

you are confusing bitcoin with centralized services.
bitcoin is the same way as it has ever been regarding the level of privacy and freedom it provides. but when you decide to use a centralized service with this decentralized currency then obviously you are subjecting yourself with all the rules that centralized service forces on you.
if you don't like that then don't use them!

[20kevin20]

I only consider centralized exchanges viable for traders. There isn't really any DEX you can go through that lets you reliably daytrade, so it's the only remaining option. If you're willing to focus completely on privacy and freedom, then go for a DEX instead but don't be surprised if you don't see volume or offers at all. While I hoped they'd become a hype this year, unfortunately to me it looks like the opposite is actually happening.

Other stuff you might be interested in is mixers and Monero, although they're kinda starting to get unofficially "banned" every now and then on various platforms. Also, don't you think using a DEX is enough for your privacy to be improved. You probably have to change many other habits, such as using wallet addresses separately instead of linking them together through txs (address control if I remember the name correctly). And now that you have already had KYC requests, it might be a good idea to never use your old addresses again - perhaps you could start a new wallet instead, to avoid small but costly mistakes such as forgetting to use address control.

When you joined the exchange you complained about in the last thread, you accepted some terms - including KYC possible verification. Unfortunately, it's what regulations push for under silly excuses such as "the fight against illegal activity"..

[davis196]

I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.

KYC has nothing to do with freedom.ID verification is required when you use any fiat financial service(opening a bank account,forex trading account,using services like Paypal or Skrill,etc.)
Why the crypto exchange platforms should be different?They are considered to be financial services as well,so they have to abide by the same rules as fiat financial services.
The people,who are whining that they can't use mixers and complaining about KYC have something to hide from the authorities.

[serjent05]

That is to be expected, once regulators steps in, KYC, monitoring and anything about user surveillance is possible since the government will monitor it for "AML".  Government regulation is the price of being adopted. Aside from that, there are few merchant that accept BTC without third party mediators. andt most of the legal shops that accept BTC always ask for customer detail for shipping their products (so there is nothing new in this case).

It is either we hold our BTC and dwell on DEX and keep our privacy or convert it to fiat and comply with government regulation thus providing KYC to centralized exchanges.  There is not much of an option.

[sir.ga]

  this is just assumptions and paranoia, No facts to support your claim.There could be a number of reason why KYC on "centralized exchanges" are reaching Forex broker levels but assuming it's main drive is mass surveillance is foolish. This seems more like an indication of how the game is maturing.

[djcaoile1205]

KYC is necessary due to all kind of regulation. You wanted mass adoption, you get regulation, KYC and AML

[Jawhead999]

So your worried about centralized exchanges will force his customer to submit KYC/personal information? Just don't use them and start using decentralized exchanges (e.g. bisq [1], hodl hodl [2])

IMO it's enough to answer your question, better to lock your topic 

[1] https://bisq.network/
[2] https://hodlhodl.com/

[Wexnident]

You're technically blaming the exchanges themselves, not crypto. Heck, why are we even blaming a medium for doing something invasive towards our privacy like KYC? Mediums don't move by themselves you know, and additionally, KYC is optional in terms of you accepting the usage of that exchange. If you don't want KYC, don't use their exchanges, find some way to transact, like DEX's or Peer to peer sites.

Centralized exchanges ask for KYC mostly for security on the other hand, they just want to provide the service that people want them to have. It's a give and take. They give out quality exchanges and secure your transactions so possibilities of being hacked is minimized as much as possible, while you as a user help them do just that, by providing information. Doesn't mean that you can only use them when using BTC, there are others out there that don't require KYC.

[The Cryptovator]

Every centralized exchange enforcing for KYC, not every exchange. When a new exchange launch, then we raise questions from which country its registered, is it have a license from the government? But we forget that, if a centralized exchange operates belongs to the government's license then there will have some rules regulations, and its outcome is KYC. Exchanges likely forced by governments to comply with regulations to prevent fraudulently.

However, it wouldn't prevent your financial freedoms if you do not use them. It's not mandatory to trade on an exchange, bitcoin wasn't built just for trading. It's a peer to peer decentralized cryptocurrency. Still now it's decentralized and it will remain. Problems are with centralized exchange which you would avoid.

[adzino]

I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.

So you are saying that bitcoin is getting dangerous because centralized exchanges are now asking for users to go through KYC or you think it is dangerous since exchanges are now considering it dangerous for which they now ask for KYCs? In both case you are wrong. Exchanges are asking for KYC because they are being forced to. The exchanges are centralized. If you use a centralized platform, then you will have to follow the rules. You will have to provide identification since they are regulated by the government.
You still have your freedom as long as you avoid using those central exchanges.

[DoubleEdgeEX]

The DEX volumes have increased a lot in the past 2-3 months, showing ATHs from week to week. However, if you want to go with even less complicated, you can always use a swap engine. If you want to check one out, here is how it works in our solution. https://double-edge.net/wp-content/uploads/2020/04/How-to-trade-on-Double-Edge.pdf     - I hope nobody gets offended of me posting something from my own side, but if yes, please delete this post

[joniboini]

I think it's clear by now that there's no change in bitcoin. Either you use cex or not.

On another note, you can't expect centralized services to be free from KYC. They're running a business in a country, holding millions of money each day. Any government won't let them do as they please to prevent something bad from happening, such as exit scam or the owner went missing with all of their funds. Btw, some exchanges like Bithumb Global or Binance still allows non-KYC user to use their services, mainly for crypto to crypto transactions. But don't be surprised if they play the KYC card again.

[target]

Its the trade-off for the adoption we have been trying to achieved now that cryptocurrency is legalized. Its not like what is was when you can withdraw a hundred BTC without having to leave your data to them except an email use to sign up.

If you find it dangerous there are still exchanges and dex to go to but it may not really be what you expect compare to the CEX like Binance. The one that is very popular right now is uniswap.

[sheenshane]

If you're concerned is all about privacy just simple as that, use DEX, and avoid CEX which is required KYC/AML in each costumer.

Don't blame the cryptocurrency itself because there are too many alternative ways to hide your privacy if you're protecting it. Besides, it will not directly be linked to your personal identity, so there's nothing to worry about if this cryptocurrency will be traceable especially Bitcoin.

Time to time this will be the fact, the crypto market exchanges will be regulated by the government but not directly to the cryptocurrencies. Which impossible to regulate due to the it's decentralized kind.

[molsewid]

I noticed how every exchange now enforces KYC on every individual that registers on their site, also the global governments/exchanges tracking bitcoin users and monitoring how they spend their bitcoins with the advanced visuals tools that’s out there, I believe if this stays like this and more and more companies start to enforce kyc on it customers, we will lose our freedom, people think bitcoin is the freedom but no it’s aint I believe it’s the most invasive surveillance mechanism ever, we can’t even use mixers anymore it’s basically doesn’t work because at the end of the day it’ll leave a trace no matter what you do, this is heading towards a solitary environmental and it’s not a good idea at all. Lets think twice and focus on our freedom, privacy and future.

Then don't use website that enforces KYC. I think there's a few website who still doesn't require KYC.
I think the bad only thing in KYC is leaking your information when they website got hack. I saw some news that KYC information leak from a website. And that's alarming because it's too bad if your information use in a bad way.

[LogitechMouse]

~

So what will you do??

You are just complaining and sharing your opinions to us but you don't have any solutions to share. What will you do?? Trade on DEX yes that is what they are saying but DEX doesn't have that much liquidity compare to the centralized exchanges right now so it is still useless.

Exchanges aren't forcing you to share your information if you don't like. If you don't like sharing your information to other people then don't use their exchange. Don't use their services. Who gives a damn if you don't want to give your information to them. Freedom?? Find a place where you can buy BTC without sharing your information to them.

Yes there are some ways to buy BTC and staying anonymous at the same time but it will be harder for you to buy and sell on it. Accept it or better leave.

[AjithBtc]

The cryptocurrency exchanges requesting to fullfill KYC isn't a big issue. Without cryptocurrency exchanges the market might have not got such an increased volume. For users who prefer the decentralized accessibility can make use of the decentralized exchanges. With centralized exchanges it is possible to get support when some form of error or issue happens.

[Oasisman]

I noticed how every exchange now enforces KYC on every individual that registers on their site.

Sure you're talking about CEX or centralized exchange. These exchange needs to comply with KYC and it's compulsory. So, you shouldn't be surprised If they are requiring KYC verifications.
If your primary concern is your privacy, then you can always opt to use decentralized exchange or do a peer to peer transaction when you're buying or selling Btc.
The KYC from CEX isn't a threat to your privacy and freedom, because there are still a lot of option to stay anonymous while transacting.

[lebregone]

If you are ready to start your journey in crypto currencies then you should be ready also to adapt their latest actions especially in asking us our KYC so we can use their platform and etc.

There are very few exchanges right now that didn't ask for KYC but I saw also that their services are not topnotch compare to the platforms that are asking for KYC. If you see that submitting your
KYC will endanger your life then you should not force yourself in doing it because no one can force us to submit our KYC if we are against to it.