Post
Topic
Board Beginners & Help
Merits 1 from 1 user
Re: Why KYC is extremely dangerous – and useless
by
20kevin20
on 29/01/2020, 10:07:03 UTC
⭐ Merited by 1miau (1)
Anyhow, nothing will change.
A million people will come to this topic and say that KYC is dangerous and people shouldn't do it and one day later  999 999 of them will send their pictures, their IDs, their cat pedigree and a list of their's wife girlfriends with who they've cheated for 10 lollapalooza coins.

Couldn't agree more with you. If everyone would stand against KYC, it would MAYBE make a change.

I can buy gold worth $10k from The Netherlands and nobody would request my ID. Meanwhile, a $5 deposit on a KYC-enabled exchange could be frozen if the exchange considers it suspicious. How does that make sense?

I think money laundering and terrorism happens more with precious metals & fiat than with crypto, I mean it's common sense. Gold & precious metals have been around since before we all were born, Bitcoin is still growing up and nobody has been able to prove through facts that a certain percentage of BTC transactions are money laundering and terrorism funding. It's all bullshit. I haven't provided a single document of identification and I never will.