Post
Topic
Board Service Discussion
Re: BitPay -- KYC is here!
by
figmentofmyass
on 10/08/2019, 18:11:45 UTC
I also wonder if they'll be aggregating multiple purchases together over time to trigger the threshold.
This is almost certainly never going to happen.

The process for confirming KYC information is to verify the information prior to the transaction being initiated, so they will have no way of knowing if your history meets the threshold to require them to have verified your KYC information.

they will via account login. this "continue as guest" button won't be around forever. i'm sure having an account will be mandatory at some point. so you'd have to juggle multiple accounts with VPN and hope to dodge their algorithms for triggering KYC or detecting multi-accounters, which would probably work at least for a time. but they will also be clocking users with other conventional analysis to mitigate compliance risk: exchanging customer information with merchants, logging IP addresses, browser analysis, all manner of other leaked PII.

it's not like they need to prove anything beyond a reasonable doubt. it's the opposite. they will just have various forms of risk analysis to cut off risky customers who seem to be dodging their terms. multi-accounting will definitely be against their terms once accounts are mandatory.

will it be possible to get around this? sure, with some common sense and effort. but most people are sheep and will just voluntarily give up their KYC.