Everybody's identity has a price.

[TheMage]

Everybody who values their's at 10 USD or less will get a great deal selling it to Circle. What's the problem with that?

And: everybody here wishing for 'mainstream adoption' should be happy as we will then finally have the opportunity to go shopping on Ebay and on apple-thingy-store and all the other beautiful places, which will of course accept Bitcoin as soon as they are being 'de-risked' and 'consumer-protected' and sent by identified users from regulated Circle wallets.

The to-be-adopted masses of shoppers will be happy, Ebay will be happy, Circle will be happy.

And if Circle protects the users from their private keys even the FED will be happy .

So, happy times ahead all around, maybe except for the to-the-moon-guy on reddit, as he's not gonna get there. But that is a small sacrifice.

Joe


edit: spelling

I dont know anything about circle, nor do I care. But lets be serious here and dont report half ass stories.

If they are a US based company, and deal in crypto, they need to have certain data about you in order to comply with US regulations (specifically FinCen and if they extend to the states MSB licenses). You can't have all these start ups, specifically in the US, and get away with not complying with regulations. You want mass adoption? Do you want people to use cryptos? Do you want price to increase? Well without complying with regulations is the fastest way to keep those from not happening.

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[justusranvier]

Noone is forcing you to use circle

This is a rather short-sighted viewpoint.

It's true today, however there are many, many ways in which this could not remain true tomorrow.

Hey Justus - I'm confused as well regarding your statement. Care to clarify?

http://en.wikipedia.org/wiki/Regulatory_capture

[serenitys]

I'm kind of curious why all the wigging over this identity issue.

Everyone here almost certainly has a bank account and credit/debit cards in which you have to give them your identification. You have cable and internet and satellite, and you have to provide your identification - who you are, where you live, and contact info. You had to give the same shit from the moment you entered kindergarten and will always have to provide your identification and contact info for everything you do. If that freaks you out to the point of a shrieking coronary, then change your name to a symbol and go live in seclusion away from society.

You've provided it even to these trader exchanges already.

If you've used your credit card to buy a pizza online and have it delivered, you've given some college kid your credit card number which is far more potentially damaging than someone knowing your damn name, address and phone number.

Circle isn't requesting anything even remotely near as intrusive and invasive as bitstamp asks, but they have to have this information to link up your accounts...same reason Pay Pal needed it or Amazon or any online service linked to your account so they can EXCHANGE FUNDS. Circle isn't out to steal your money. They're out to make it easy for non tech geeks to adopt bitcoin as easily as they adopted pay pal and Amazon and eBay.

They are not the spawn of satan out to absorb your unborn children into their dark beast and sell their lists to the government death squads...Circle is bitcoin's paypal...no more, no less. Use it to make online purchases at shops easier, get your grandma set up with it. Enjoy its free services and then move your funds off Circle into an offline wallet or dark wallet or out of Circle. Once you move them you have a different private key that you control. Or just don't use them.

This is so unwarranted. Circle is on your side...they're making it easy for people who currently would just as soon tell you to shove bitcoin up your ass than to use magic money to use magic money with their phones all over the place so they forget what they were so irate about.

And by the time that happens the government wouldn't be able to regulate it if they tried.

Jeez, settle the fuck down already, this backlash is nuts. Paranoid nuts.

[jbreher]

Noone is forcing you to use circle

This is a rather short-sighted viewpoint.

It's true today, however there are many, many ways in which this could not remain true tomorrow.

Hey Justus - I'm confused as well regarding your statement. Care to clarify?

http://en.wikipedia.org/wiki/Regulatory_capture

Regulatory Catpure of the unregulatable? You make-a no sense to me.

ETA: Nope, still not seeing how one might be forced to use Circle.

[acoindr]

Noone is forcing you to use circle

This is a rather short-sighted viewpoint.

It's true today, however there are many, many ways in which this could not remain true tomorrow.

Hey Justus - I'm confused as well regarding your statement. Care to clarify?

http://en.wikipedia.org/wiki/Regulatory_capture

This doesn't stop people using the basic peer-to-peer client, though.

I think I understand what you're alluding to, that governments could make non-white label transfers illegal, but to control that they would have to impose draconian controls over global Internet traffic, all while their jurisdiction is limited. About the only thing they could do with a measure of success IMO is implement white listed coins, but we've already discussed it should be a community priority to neuter/block any such lists at all costs.

[Crindon]

It depends on the person, really in terms of how they think their information will be handled. It's like the herd mentality, if everyone else is jumping in, they will be safe because there is strength in numbers. The price isn't really the price they would put on their identity, because the herd mentality set in and that reduces the perception of risk.