Satoshi Nakamoto White Paper

[apogio]

Not everyone on the internet does legal things, right? There are always some bad people. You never know if your identity was used by a hacker or a bad person. You should consider reading What happens when your identity is stolen -- real story || Avoid CEXs!. The identity of that guy was stolen somehow and he was in massive trouble for that.

Now it makes sense. So criminals buy fake IDs and use them for forgery. Yeah I am not surprised, it just never crossed my mind that the way to buy the IDs is from KYC exchanges. But since they require KYC, you can be sure that at least they own the information about their clients. If they are willing to sell it for illicit usage, is a whole other story _crime.

[1715019670]

1715019670

[kro55]

I am not aware, but to be honest, I am also not surprised. I am not sure why the info is worth selling/buying. I mean, I can totally understand that governments may want to surveil bitcoin and, in this effort, they will need to ask KYC exchanges for clients' info. But, who else would be interested in buying them and why? Marketing companies? Or anything more shady?

Not everyone on the internet does legal things, right? There are always some bad people. You never know if your identity was used by a hacker or a bad person. You should consider reading What happens when your identity is stolen -- real story || Avoid CEXs!. The identity of that guy was stolen somehow and he was in massive trouble for that.

You can also read Coinbase Admits Its Former Data Provider Sold Client Data. We don't know what are they doing with those user's data. But, whenever you search for a user profile on the internet, you will find some full profiles of some citizens. How do you think those data were collected? I know some survey worker pretend to be USA citizen and use those data to make their profile.

Well, if we talk about personal data collection, I think not only centralized exchanges are selling customer data to other third parties but even banks and other organizations like apple or Google are also doing that. That is why many people do not participate in the cryptocurrency market but their information is sold on the internet.

In my opinion, if we are already citizens of a country that has been issued an ID and use devices and services provided by organizations, then our identity has long since ceased to belong to us. And are you sure you don't use your bank account, insurance card, smartphone, email...

[Learn Bitcoin]

Well, if we talk about personal data collection, I think not only centralized exchanges are selling customer data to other third parties but even banks and other organizations like apple or Google are also doing that. That is why many people do not participate in the cryptocurrency market but their information is sold on the internet.

In my opinion, if we are already citizens of a country that has been issued an ID and use devices and services provided by organizations, then our identity has long since ceased to belong to us. And are you sure you don't use your bank account, insurance card, smartphone, email...

Look, doing KYC on a crypto exchange and doing it in a bank is not the same thing. When we do the KYC on a bank, they do not know if we own any crypto or not. Your apple account or a google account does not ask for your real identity or your photo. I do not know about apple but I know about google. I use Gmail and other google services but it never ask for my identity. Even if it ask for names or birthday date, you can easily give incorrect information and noting will happen.

For banks, they do the KYC process on their office and the chance of identity stealing is minimum. But, the purpose of using crypto is to maintain your privacy. We do not use banks for privacy enhancement. So, it does not matter if we do KYC there or not. But, when we KYC on crypto exchange or a Casino, they know we are crypto users and this is not good for privacy. Right?

[fzkto]

Well, if we talk about personal data collection, I think not only centralized exchanges are selling customer data to other third parties but even banks and other organizations like apple or Google are also doing that. That is why many people do not participate in the cryptocurrency market but their information is sold on the internet.

In my opinion, if we are already citizens of a country that has been issued an ID and use devices and services provided by organizations, then our identity has long since ceased to belong to us. And are you sure you don't use your bank account, insurance card, smartphone, email...

Look, doing KYC on a crypto exchange and doing it in a bank is not the same thing. When we do the KYC on a bank, they do not know if we own any crypto or not. Your apple account or a google account does not ask for your real identity or your photo. I do not know about apple but I know about google. I use Gmail and other google services but it never ask for my identity. Even if it ask for names or birthday date, you can easily give incorrect information and noting will happen.

For banks, they do the KYC process on their office and the chance of identity stealing is minimum. But, the purpose of using crypto is to maintain your privacy. We do not use banks for privacy enhancement. So, it does not matter if we do KYC there or not. But, when we KYC on crypto exchange or a Casino, they know we are crypto users and this is not good for privacy. Right?

There are many different databases that can identify a person. I think that in modern times it is not very difficult to match your bank accounts, your mobile phone number and your Apple or Google account. For example, if you bought a subscription or an app. Of course kyc on an exchange is an easy opportunity for third parties to get your data. But if you use bank payments, that also reveals your identity.

[Learn Bitcoin]

There are many different databases that can identify a person. I think that in modern times it is not very difficult to match your bank accounts, your mobile phone number and your Apple or Google account. For example, if you bought a subscription or an app. Of course kyc on an exchange is an easy opportunity for third parties to get your data. But if you use bank payments, that also reveals your identity.

You guys are not getting what I am talking about. Crypto privacy and real-life privacy are not the same. Please do not mixup Crypto with your real-life thinks like banks and other things. I have a different identity in the cyber space. Nobody knows what is my real name. Not even my closest forum friends. Even if they meet me in real life, they won't know that I am Learn Bitcoin.

No matter what happens with your Bank account or your identity. I understand that there is a possibility of identity theft. If it's get stolen from a bank, you can sue them. Centralized exchanges are the platform where people mixup their virtual identity and their real identity. People do KYC to store their crypto currency.

[BlackBoss_]

You guys are not getting what I am talking about. Crypto privacy and real-life privacy are not the same. Please do not mixup Crypto with your real-life thinks like banks and other things. I have a different identity in the cyber space. Nobody knows what is my real name. Not even my closest forum friends. Even if they meet me in real life, they won't know that I am Learn Bitcoin.

No matter what happens with your Bank account or your identity. I understand that there is a possibility of identity theft. If it's get stolen from a bank, you can sue them. Centralized exchanges are the platform where people mixup their virtual identity and their real identity. People do KYC to store their crypto currency.

They are certainly different but they are crossing each other and in either cryptocurrency or bank, fiat currency, we all have our privacy, identity to secure or hide. I don't see activities and interactions with cryptocurrencies can be called as non-real-life things.

We actually use both cryptocurrency, fiat currency, banks and many platforms so if our privacy, identity is broken, leaked on one or some of those areas and platforms, we lose our identity privacy forever. It is only matter of how near or far it will be spread around and we have no chance to control how people will spread it or sale it for their benefits.

If we care about privacy, we have to do it at all places, not only in either cryptocurrency or bank.

[Plaguedeath]

They are certainly different but they are crossing each other and in either cryptocurrency or bank, fiat currency, we all have our privacy, identity to secure or hide. I don't see activities and interactions with cryptocurrencies can be called as non-real-life things.

We actually use both cryptocurrency, fiat currency, banks and many platforms so if our privacy, identity is broken, leaked on one or some of those areas and platforms, we lose our identity privacy forever. It is only matter of how near or far it will be spread around and we have no chance to control how people will spread it or sale it for their benefits.

If we care about privacy, we have to do it at all places, not only in either cryptocurrency or bank.

How it's possible to protect your privacy on banks?

Banks' employees: Sir, could you give me your ID card, please?
You : No, I want to protect my privacy.
Banks' employees: I'm sorry, but we need your ID card since it's one of requirement to create an account.
You: No, my privacy is way more important STFU.

If you use DEX, the banks won't know if you trade Bitcoin because you're doing it P2P, only the sender know you (but they only know they've transact with you, they don't know you real name, face etc.)

[Learn Bitcoin]

How it's possible to protect your privacy on banks?

Banks' employees: Sir, could you give me your ID card, please?
You : No, I want to protect my privacy.
Banks' employees: I'm sorry, but we need your ID card since it's one of requirement to create an account.
You: No, my privacy is way more important STFU.

If you use DEX, the banks won't know if you trade Bitcoin because you're doing it P2P, only the sender know you (but they only know they've transact with you, they don't know you real name, face etc.)

Exactly. You got my point buddy. We can't be anonymous in real life. You cannot be on a flight without your passport. But, when you buy a ticket, you must show your ID or passport. There are some services that we cannot take without giving a photo or our identity. Such as opening a bank account, buying a new SIM card, buying a plane ticket, etc etc.

But, if you have other options, go for it. The fact I tried to point out is that your banks do not know that you have cryptocurrency until you tie your bank account on an exchange and buy cryptocurrency with your bank account. But, people buy Bitcoin using their cards these days which is breaking their privacy.