Quote from: googs84 on February 25, 2018, 01:57:44 PM

Well I think there is nothing bad about it unless and until you don't want to show your identity or transactions to the government itself. Otherwise the identity is not shown to the peers that are surrounding to you or in the crypto space. I am sure that ico founders will be taking all the important steps to preserve your identity in that way. It's just being presented to the company so that they can know you are one real person and who is eligible for the tax stuff and nothing much.

I think KYC is really important stuff and beneficial thing for us as we see the crypto scams everwhere. So its betterment and not the negative thing.

KYC really is a good idea and it will be beneficial for it will lessen the act of fraudulence but we know that many people engages or is happily using and earning bitcoin because of the identity preservation. By implementing KYC, many people are now double-thinking on whether to participate in ICOs especially the potential investors because if they do, they will have to give away their identity. I consider it also as hassle and I think that ICOs should put their focus in making their ICOs more attractive and productive because many are looking like scams now which is not good.

Quote from: DarkDrake on February 25, 2018, 01:45:07 PM

exactly. i have a few ico's i would like to invest in but i don't want my ID flying around on the internet.

yes i can watermark it but that does not really solve any major issue.

i could fake my id obviously. but that is not the smartest to do...

This is an exact example of what I was saying, due to the implementation of KYC, many potential investors are walking away looking for ICOs that don't have KYC. The reason is because they don't want their identity to be revealed. Bitcoin has promised us anonymity and passing ID containing personal information is the exact opposite of that.