Quote from: korean1999 on March 10, 2019, 09:06:38 AM

Quote from: Bonwin on January 25, 2019, 07:57:53 PM

The decentralized nature of cryptocurrency seems not be effective when it comes to investing in cryptocurrency, seeing that investors in most cases are asked to do KYC, bounty hunters inclusive.

I do not think investors should be compelled or made to do KYC by submitting their personal data and documents, because project initiators do not stand any risk of losing their money. Rather project initiators or developers should be made to do KYC, in order to gain the trust of investors, who want to invest in their projects.

This is necessary because we have seen cases of scam ICOs, which have made investors to lose trust in a lot of them. So to gain the trust back, we would need to know whom we are giving our money to as investors.

Of course the project initiator and the team dev need KYC first. If they cannot KYC then they cannot force KYC investors because it is not reasonable. And those projects are usually scam

This is because of the SEC regulations. Also KYC is used to go against scamming projects with abusing. So, the only bitcointalk profile equals single KYC. In addition, most projects restrict some countries and KYC is useful in this regard.