Quote from: teedeexyz on February 01, 2018, 05:14:35 PM

Quote from: Wekkel on February 01, 2018, 06:12:24 AM

Two important pieces of information came out:
1. KYC mandatory for the NET -> NIMIQ conversion
2. Denomination: instead of 1 NET -> 0.1 NIMIQ it will be 1 NET -> 100 NIMIQ. Total supply will be 21 billion NIMIQ instead of 21 million.

Release of the mainnet is still pencilled in for Q1 2018. Before that, there will be another update to the testnet.

Anything concrete yet the conversion?
Also: I'm concerned about giving personal information and ID to a party I don't know and is not a well known well secured exchange.
Glad I didn't buy NET yet.

Whoa! Just 'KYC mandatory' doesn't cut it!

Okay, I got my NET as part of a group buy-in, so it's my lack of due diligence that got me here -- but it's also the case that the information on this project has been presented poorly.

So: 'We may determine . . . that it is necessary to obtain certain information . . . ' [ https://nimiq.com/terms/ ] This is fair enough for the early stages; but I've never heard of a dev team requiring KYC -- to trade on centralised exchanges, yes; but to own a crypto? No.

And I feel the following is disingenuous: '[KYC] only applies to the replacement of NET for NIM.' Once you've got out data, you've got our data . . .

My inclination is to sell my holdings forthwith. Goodness, I hope I've misinterpreted something here. What is 'KYC'? What data? Held by whom? Under what security protocols? For how long?