Can you imagine if Walmart started saying every customer has to show the cashier their bank statement first so the cashier can see where their money is coming from? The result would be outrage as well as a huge hit to Walmart's profits. But for some reason this community, despite being founded on the principles of self ownership and no third party control, are fine with this exact scenario, and continue to use and support exchanges which are openly spying on you. It is mind boggling.
There is a difference. It is the way this community thinks.
They see Walmart as a store they pay at for groceries. And they see Bitcoin and Centralized Exchanges as a way to get rich. Here is where the discrepancy comes from. They would not share personal information with Walmart because Walmart is the one getting paid by them. You do not purchase an apple to sell it ten fold the next day.
But Centralized Exchanges give you the 'opportunity' to earn a massive amount of money by storing your shit coins there, by storing your Bitcoin there. By staking Bitcoin, even if there is no such thing. But the average brain thinks, sure! Take my ID, take this picture of my willy or take my wife, this one might make me a millionaire so it is worth it.
There is also this mind set that by verifying you can trade up to a hundred thousand or a million. I do not even know why you would do that when you do not even have that much in your wallet anyway. And then, there is either that they got their money frozen, something Walmart does not do, or they are so comfortable with themselves that they would rather give up information and avoid future hassle than keep their private information .. private.
Yes, even if they know they will most probably not become millionaires. Even if they tried with a hundred shit coins and got scammed every time. Even if their beloved exchange got hacked. And yes, at the expense of many things. Privacy, security, integrity only to name a few. But unfortunately many were somehow psychologically shaped along the years in such a way that they are capable of compromising and giving up anything long as it brings them fame and money.
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Regards,
PrivacyG