Kyc not needed for using crypto currencies but you may need them for buying crypto currencies a lot which I think indeed to stop people from money launder their black money apart from this no other advantages we can get but lot of disadvantages by having KYC like our details are in hands of someone which can be used for anything if they want.

   It`s normal and many traders wish for this fluctuations so they can earn a lot of money in short-term. 20% up or down is huge at current Bitcoin price,
changes are big and traders can make huge profit in weeks. Who buy at bottom and sell at top will earn a lot.
   Not only dumps can happen all of a sudden, same is with price rise, all of a sudden price can start rising. If you can`t notice this changes than don`t trade,
is my advice to newbies. I don`t trade, I hold and I don`t care much about this sudden price changes.

The anonimity has long died, everywhere you want to use your BTC they usually tend to requires you to verify your identity first by doing the KYC procedures and that will goes on accompanying the government's effort of Anti Money Laundering.  However, KYC in my opinion is not that bad only if the government officials provide their service to every company that requires their user to do the KYC verification rather than letting all those third parties did it or even worse the company that you don't even know who is the owner doing it independently.
It's not like that the government is trying to make everything complicated but they have no other choice to prevent money laundering since all the bad rumours about bitcoin being used for evil things which infact is pretty rare is already on the mind of the people inside government.

You have yourself a bounce right now I think, for the weekend you should enjoy it.   Im more cautious on Sunday night open then but I think we positive till then.

Very short 5 min bars -

https://i.imgur.com/GfTBBzp.png

bullish above 10,200

Yes, KYC is not wrong, however, many people do FUD regarding data information. KYC is indeed very important to avoid money laundering and other frauds. some KYC is also quite easy to do such as self-identification cards, and selfies. yeah, that's easy enough to do. it's just that we need to know who we give it to.

This is where questions arise. If the government's aim is to prevent money laundering and terrorist financing, then they should go after the big whales. I mean those who trade more than $1,000 worth of coins everyday. On the other hand, they are going after the small fish, who use exchanges to convert their $10 or $15 worth of tokens that they received from bounty campaigns and airdrops to beer money.

Earlier, when Cryptopia was active, they had three tiers of verification. ID details were required only of you wanted to trade more than $1,000 worth of crypto. But now the government regulations make KYC mandatory for anyone who register to these exchanges. And it is neither going to serve its purpose nor going to make the market more transparent.

Kyc not needed for using crypto currencies but you may need them for buying crypto currencies a lot which I think indeed to stop people from money launder their black money apart from this no other advantages we can get but lot of disadvantages by having KYC like our details are in hands of someone which can be used for anything if they want.

More traders looking at when it reaches bottom to buy, i wonder how low it will get? The Trump effect? Lol.

Just remember this:

Halving IS coming... (2020).

I don't see KYC as a problem for a genuine trader who likes that his money is secured because the purpose of it is actually for security both for customer and the platform or exchange.

according to them:


LocalBitcoin Loses Traders After Cash Trading Ban: 'Not Very Local'

they have no choice, they should ask their clients to do KYC


yes, now that we are facing governments

Glad that bitcoin was not brought up in the budget else everything was just negative. More custom duty (from 10 to 12.5%), petrol and diesel prices increased by Rs. 1, charging fee on cash withdrawals above 1cr, more taxes on high salaried people and this proves that they tried making middle-class happy before the elections just to ruin everything after it.