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Re: Why is kyc a thing
by
stompix
on 31/07/2020, 18:45:54 UTC
if we all stop using these bad services they will allow us to play without kyc

Yeah, of course!
An all-out boycott of those services done by the crypto users!
Do you know how funny this sounds in reality? All users boycotting services that require KYC?

We could make an experiment here, (not with nude pictures as mikeywith said, although it would be interesting) but with a giveaway and see how many are willing to do KYC for 1-3$ worth of BTC.
I'm pretty sure it will be in the hundreds, juts look at people doing KYC on yobit to get free future tokens that have no chain and are printed at will by the exchange.


The fact that these websites and exchanges allow you to deposit as much as you want, trade or gamble with any amount you have,  and ONLY then play the KYC card when you plan to withdraw is clear evidence that they are counting on your inability to comply so that they can keep the money.  Roll Eyes, if they were to force KYC upon registration many of their potential clients will steer clear.

Yeah, the whole KYC thing has opened the way for legal scamming.
I've seen tens of new exchanges attracting users for either arbitrage or liquidation with inflated prices (5-10%) over the market and then when you try to withdraw, KYC, the proof of funds, then something is wrong, then they have flagged your account, need more proofs, and when you finally have all the website is already gone! And to whom are going to go to complain?

so criminals cant launder money.   its not for sportsbooks so they can steal.  jesus christ people

And you actually believe this is working?  Wink