Quote from: zviadits on February 08, 2020, 01:36:42 PM

Quote from: 20kevin20 on January 29, 2020, 09:19:08 AM

Know Your Customer, Know Your Partner. What comes next?

I think we should be looking for ways to stop this KYC policy instead, as in my opinion it only does more harm than good. Look around what's going on with the platforms using KYC and see for yourself.

Bittrex basically confiscated my funds by enforcing a mandatory KYC verification post-deposit. I only care about the safety of my funds, and KYC lowers the safety of them a lot more than lawmakers might've expected.

KYP wouldn't make things fair for both sides. What would knowing who's behind Bittrex help me with if they've confiscated my money thanks to KYC? It's exactly the same thing, but more privacy is invaded. Instead of making things better, it would make them worse. Instead of adding this policy, I would work on changing the KYC first so stealing of funds won't be legal anymore... because KYC basically makes money stealing legal. Fair? Obviously not.

Quote from: philipma1957 on January 28, 2020, 09:44:47 PM

Then simply boycott anyone asking for kyc if they don't offer kyp.

If KYP would be implemented, platforms would offer it from registration phase. And then it would function just like it does right now, without KYP implemented.

KYP and KYC are not practical and dangerous for users. These verification systems are not suitable, but so far there are no alternatives, we can not do anything. There remains the option of interacting with exchanges which do not require KYC, however, I doubt that your assets will be safe

In the end, the users have the power of choice, they can accept or not provide KYC if they want to use centralized services.