Why do you want NON KYC coin

[gunrs17]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.  Im guessing its so that one can deny ownership from "the man"

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[Yogee]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.

There are obvious reasons why people choose to transact with BTC. Two of them are privacy and the no intermediary that would potentially hold your funds.

Im guessing its so that one can deny ownership from "the man"

Are you talking about the tax man or authorities with "the man"? I don't know everyone's stand on taxation and regulation but there could be some people trying to evade taxes or avoid getting flagged by using bitcoin.

[LFC_Bitcoin]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.  Im guessing its so that one can deny ownership from "the man"

Probably so they don’t have to pay taxes on profits. I know that I would love to avoid paying tax on bitcoin when I sell. I’ve been HODLING many coins for over 7 years, it doesn’t feel fair that I should have to pay 20% tax on profits.

[Jawhead999]

There's no called NON-KYC bitcoin, Bitcoin is Bitcoin just like a currency. I guess what you mean is tainted/dirty Bitcoin which come from hacking, casino or something illegal in some countries?

Usually many users want clean Bitcoin because the local exchange doesn't accept tainted Bitcoin, want to hide from police/gov/fbi etc or can be called money laundering.

I understand we didn't even know our Bitcoin Islam dirty or clean if we bought from exchange or got from someone, but I think there are some requirements before police sued/suspect someone.

IMO as long as you used decentralized exchange and it's doesn't come from illegal on your country, you'll be fine.

CMIIW

[bitmover]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.  Im guessing its so that one can deny ownership from "the man"

Bitcoin is already a "non-kyc" coin. We don't need to make any KYC or send any documents to be able to hold bitcoins.

Exchanges may (or not) require your documents because regulations demand them to do so. This is specially true when we are talking about tax gains, just like @LFC_Bitcoin said. THis is why regulations are so strict on exchanges, because governments wants taxes over your gains.

Although it is possible to avoid some taxes, it is very unlikely that we will be able to avoid all tax gains....

In my country we are able to sell about 6k USD per month without paying any taxes. This is a low value, but it is a way to avoid some taxes, even when you do KYC...

[mk4]

tl;dr it's for privacy purposes. With bitcoin being bought from non-kyc exchanges, it means that affiliation between the you and the coins will be significantly harder. Whether it's for tax avoidance, for sketchy payments purposes, or just simply the fact that the person is privacy paranoid(which isn't really a bad thing).

[gunrs17]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.

There are obvious reasons why people choose to transact with BTC. Two of them are privacy and the no intermediary that would potentially hold your funds.

Im guessing its so that one can deny ownership from "the man"

Are you talking about the tax man or authorities with "the man"? I don't know everyone's stand on taxation and regulation but there could be some people trying to evade taxes or avoid getting flagged by using bitcoin.

"The man" = government. Remember when they tried to take everyone's gold?

[RiskySanchez]

if you use KYC coin, privacy will certainly feel insecure and of course the data we have can be misused. especially when transacting, of course the taxes imposed on people who exchange Bitcoin will be suspended from state taxes, if the regulations of a country have legalized bitcoin. so what we need is secure transaction privacy and bitcoin already has Non KYC

[Shenzou]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.  Im guessing its so that one can deny ownership from "the man"

I personally refuse to use any KYC in crypto in general, because the whole point of using bitcoin and altcoins is to stay anonymous and to be able to send and receive transactions without having to worry about you identity, because the anonymity is what makes it way secure, so if you are telling me that i need to give my personal information in order to use a currency, than why i should not be using fiat and paying through the banks since it is more trusted.

[BitMaxz]

"The man" = government. Remember when they tried to take everyone's gold

If that's a government then it won't be a problem if you buy Bitcoins with or without KYC on some exchanges because you can just withdraw them from exchanges and use any mixer so that your Bitcoin is non-traceable. It can't be easily found by someone or even the government that is why there are many mixing services out there to help your BTC untraceable.

Are you afraid of tax?
I'm sure they only ask for some tax if they see a large transaction was being withdrawn from exchanges but here in my country, there is no tax yet except for those who playing Axie. That is why P2P is very common here to avoid some fees and taxes.

[oktana]

Why should I want KYC coin? Look at it from this angle; I complete KYC to hodl/transact the coin. When I make a transaction of $300, it'll show that me oktana sent $300 (Knowing that much about someone in this space is crossing the boundaries IMO). Let's just have it decentralized and that's it. If it asks for KYC, you'll see a very less number of people. We love being anonymous!

[Hydrogen]

The biggest reason I've heard for people not supporting KYC.

Is they disagree with the united states spending taxes to wage war in afghanistan. They disagree with big stimulus spending. They do not support closing the keystone oil pipeline to make americans more dependant upon foreign oil, while significantly raising the cost of gas in some US states.

There definitely is a market and a demographic seeking to become more independent and distance themselves from many big government policies, which are unpopular among the majority of people.

That could comprise the largest demographic resisting KYC in tokens, coins and cryptocurrencies.

[Afrigod1234]

The thing is seeing anyone who wants kyc coin is weird, nobody wants that. And if you do then good for you, but I sure don't. Getting it decentralized would be way better like Oktana said. It's just the norm of things. The idea of anyone needing to pass a kyc to hold coins when Bitcon itself is a non kyc coin is absurd.
I mean releasing most of your credentials on crypto platforms is just down right a bad idea, take it from me. The Crypto platform might even be a scam or hackers might get hold of your information. Everyone wants to be anonymous when dealing with crypto.

[michellee]

When you have crypto, you do not have to KYC or submitted any document to the third party but if you buy crypto in the exchanges, you need to submit your details info to them.

You can buy any coins in a forum so you do not reveal your identity to others. People want to avoid KYC is because they do not want to see the government know their activity in crypto.

[ampu]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.  Im guessing its so that one can deny ownership from "the man"

Probably so they don’t have to pay taxes on profits. I know that I would love to avoid paying tax on bitcoin when I sell. I’ve been HODLING many coins for over 7 years, it doesn’t feel fair that I should have to pay 20% tax on profits.

Let's create a transnational network. Find allies in other countries and you won't be subject to another personal income tax. I know some international students who are still trading cryptocurrencies in the US and they have been looking for ways to not be taxed. They withdraw money in the country where they were born.

[Cryptoababe]

For me, people want non kyc coin because bitcoin did not require kyc at the 1st place. And most kyc coins are liable to expose people's identity which can lead to identity theft.
Ive seen many cases why people's identity are being used for scamming activities.

[davis196]

Just interested to hear people's reasoning for wanting NON-KYC bitcoin.  Im guessing its so that one can deny ownership from "the man"

Probably so they don’t have to pay taxes on profits. I know that I would love to avoid paying tax on bitcoin when I sell. I’ve been HODLING many coins for over 7 years, it doesn’t feel fair that I should have to pay 20% tax on profits.

Taxes aren't fair,but we have to pay them.
If you hate capital gains tax,then you should've moved to a country that doesn't have capital gains tax.
I don't see anyone wanting a non-KYC Bitcoin.KYC is the "price" we have to pay,in order to witness mass Bitcoin/crypto adoption.All financial services require KYC verification-opening a bank account or FOREX trading account,applying for a credit card,etc.The crypto industry isn't more privileged than the traditional finance industry.The rules are for everyone.
What do you mean by "deny ownership from the man"?Can you elaborate more on this?

[Cling18]

People especially those who are into cryptocurrency want privacy and anonymity so the government couldn't track them. Also, they want to protect their personal information because some coins that require KYC are risky. Keeping our private identity is too important but others prefer security more than anonymity.

[AakZaki]

Data security guarantees cannot guarantee the safe storage of KYC data. If used by criminals it will harm us. I really don't like KYC but it seems like all administration is forcing us to fill it. Have you received word that currently binance has required all members to fill out KYC. Actually if there is a guarantee of security we will feel calmer. But I understand their business needs data to comply with regulations, so it's like a relationship that we have to fulfill because we need each other.

[Raflesia]

What I like the most is that there are no third-party transactions and it is clear that many people want to remain private and anonymous so Non KYC coins are one of the most preferred.
Just imagine if this could be controlled by the government how much should be paid in taxes while the gains in bitcoin are significant in a few years? Of course it will be bigger and it won't be much in the way.

I don't want identity to be one of the ingredients of abuse and indeed this has been a lot but only in exchange but in transactions we remain decentralized.