Why the teams usually don't go through KYC?

[hexwin 4931]

11 minutes ago, dentolas said:

WOW, there are a lot of countries asking for registration to buy a sim card... really had no idea, in my country you can buy one freely...

It is really not wise, the phone number in those countries acts almost like an identification document...

 

That are prepaid sim cards right?

I dont think you can buy postpaid sim cards anywhere without KYC and all documentation

 

But me and @xBDT Script are planning to use phones with NO SIM cards to call emergency services in future 😆

Edited October 9, 2019 by hexwin

[xBDT Script 4371]

Just now, hexwin said:

That are prepaid sim cards right?

Yeah of course pre paid. They ask you for registration but not many care about  it.

About the post paid, they basically need your bank details. There are no such ID required at all. Obviously I am talking about the region I am from.

[Scottsummers 347]

I think this is how crypto should be. How can it be anonymous with all these check and I'd checks and fraud checks and money laundering checks. If you have more than 6k cash in UK the police can just seize it u til you prove its legit. Imagine if they did that with crypto. Game over. 

[dentolas 551]

22 minutes ago, hexwin said:

That are prepaid sim cards right?

I dont think you can buy postpaid sim cards anywhere without KYC and all documentation

 

But me and @xBDT Script are planning to use phones with NO SIM cards to call emergency services in future 😆

yes, prepaid cards, and you can recharge them afterwords on an ATM or shop that offers that service. If service is post paid, you need to register an account on the phone company with a home address ... not sure if they ask for ID, though, but it would make sense

emergency services? when you get your fingers worn out from the posting contest 😂

[hexwin 4931]

7 minutes ago, dentolas said:

yes, prepaid cards, and you can recharge them afterwords on an ATM or shop that offers that service. If service is post paid, you need to register an account on the phone company with a home address ... not sure if they ask for ID, though, but it would make sense

emergency services? when you get your fingers worn out from the posting contest 😂

One guy told us it is not safe to  have mobile with no SIM card because you can make emergency calls.
We never tried it so far.... but we can avoid KYC if we dont even use SIM card.

And I do plan to be active member of cryptotalk forum

Edited October 9, 2019 by hexwin

[lucky80 1046]

1 hour ago, dentolas said:

you are right about the company being legally registered, this is one of the important points to check when investigating a project.

In regard to the token sale license process, this will only happen in countries where it is regulated... a lot of good and bad projects are born in non-regulated markets

I think everyone can start an EU company now. You need to become one of the e-resident of Estonia, and you could make a company there too. Anyone in the world can do everything related to a blockchain-based business. So I think there are no more obstacles. Of course, you have to prepare additional funds for administration. 

https://medium.com/e-residency-blog/welcome-to-the-blockchain-nation-5d9b46c06fd4

[Bug1973 1]

No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.

[d3nz 88]

21 hours ago, dentolas said:

I think it would only be fair and transparent if the guys that request KYC, should also provide their investors with the same security and information, by doing KYC themselves...

Maybe instead of getting pissed because KYC is needed in some places, we should start requesting the team KYC in order to participate in their business...

Yeah i agree, they should also provide their information so we could know who really are this team behind if we are investing or trading on their exchange.

[dentolas 551]

1 hour ago, Dprincebh said:

That's actually what is happening and ICO tend to go offline. I hardly see any ICO running because they know there will be no investors, but for IEO no exchange will sell scam tokens to their users.

That is not true... IEOs are a bit more difficult to scam, but there have been lots of scams and abandonments of IEOs... don't forget that there are also a lot of shitty exchanges and projects with high level scammers

In IEO I would advise to keep your eyes as open as for ICOs

[Caporetto 327]

If we want crypto to become mainstream we need KYC otherwise governments could just say exchanges are doing money laundering,also the big bad wolf SEC doesnt want US citizens to trade and not pay taxes on that,its what i kept hearing during those US congress meetings

[cryptokram 102]

6 hours ago, Dprincebh said:

That's actually what is happening and ICO tend to go offline. I hardly see any ICO running because they know there will be no investors, but for IEO no exchange will sell scam tokens to their users.

we dont know that yet! IEO might have some scam project also but i hope there will be none!

This is not a perfect world and some wrong will always exist but i hope that can be resolve before bad happen to the community.  IEO is the only system now we have to get back the beauty of investment.

[Mohs3n71 0]

I would suggest dont buy new coins from anonymous teams, just buy legit ones.those who are accepted on most of the big exchanges and stay away from shady teams that may dump their coins and make you loss

[cryptosix 1643]

On 10/9/2019 at 5:24 PM, susilabai said:

I dont agree with you because if the team is anonymous then the scamming chances are very high. If the project is genuine then they should not be fearing of their identity. So if the project team members are anonymous then better to leave that project and move to other one even if the project is giving high performance and reputation view.

If the team is for public also the chances are very high for scamming people. They request KYC for holding the payment for some more time and they play with everyone, but while accepting investment they don't require KYC.

Every project is same that I participated in bounties found that they were almost scams. Those who conducted ICO's and their ICO price is never increased even falled down to bottom of the ICO price.

[dentolas 551]

3 hours ago, Dprincebh said:

But that is only if you didn't to participate in an IEO which is launch by exchange without reputation. There are many shitty exchange and if you try investing your money in those shit exchange you are done for

Don't believe that IEO is legit just because the exchange is reputable... this is the first step to get scammed...

I'm sure this also happens

exchanges exist to make money for themselves, and if the business is good, they'll jump on it... do you think they'll be attending to your needs?

And don't forget that there are many ways to get scammed, like pump and dump schemes, etc.... these can also happen in reputable exchange...

 

[dentolas 551]

57 minutes ago, icycool said:

I have seen people selling those KYC things around, so.. why should I risk getting my picture used by a lot of people. Who know if they got hacked or just want some money. KYC are dangerous.

I agree, presently there are no tools available to assure the user about the safety and use of the personal information.

A lot of people don't see it this way though, they just share their ID for a handfull of tokens that are most times worthless or to be able to use an exchange ... I guess they just don't realise about the potential danger

[cryptokram 102]

6 hours ago, Dprincebh said:

There is scam. You know there are just some exchanges their without reputation, no volume nothing nothing, and they will be like "let start listing IEO for some fee" they don't bother about the project all they are after is the listing fee

You are pointing those exchange with not volume and low rank levels.

But if we will be on a great exchange then that will be impossible. they value their reputation and the credibility of their exchange, once a scam project launch in their platform then people will doubt on how they filter their clients.

[spyaquino 907]

On 08/10/2019 at 05:34, dentolas said:

Com tantos requisitos do KYC por perto, e pessoas sendo forçadas a passar pelo KYC para recuperar seus fundos ou apenas participar de recompensas ... Eu normalmente não vejo nenhum KYC sendo feito pela equipe ... inferno, às vezes o caras são até anônimos ...

Estou incorreto? você viu projetos exigindo KYC com a equipe também seguindo a regra? são frequentes?

por que as pessoas continuam alimentando esse sistema e não começam, pelo menos, perguntando à KYC da equipe?

Para mim, espalhar informações e documentos pessoais na Web (KYC) é um negócio perigoso

I've been through a lot of KYC and I say that before submitting my documents I try to do some research on the project first because we know that people in bad faith are out there unfortunately.😲

[dentolas 551]

3 hours ago, Dprincebh said:

Yeah I know for sure their will be dump and pumps but do you think they are organise by the exchange? No, where I can only see that happiness is yobit for example you will be receiving a message like" we will be pumping a coin in the next so so hours" and sure they usually does it. Apart from them I haven't seen any up till now. About IEO, do you think exchange like KUCOIN or BINANCE can list scam IEO for their users?

KUCOIN and BINANCE are exchanges, and centralised, so ....

I won't go looking for examples, but there are so many types of scams, that I am sure that there has been a few on those two exchanges... all their IEO's were successfull? aren't there any projects left by the devs and delisted?

The exchange can even be unaware of their scam

anyway, sometimes, they scam us and even so, we don't realise it, we though that the coin died, or the product was weak, or the team was faulty...

in crypto, one of the first steps to be scammed is having assurances about third parties... for me, even if IEO is held on the moon, I will check everything in microscopic detail 😁

[xBDT Script 4371]

7 hours ago, Dprincebh said:

About IEO, do you think exchange like KUCOIN or BINANCE can list scam IEO for their users?

I do not think they will do however doing ones own due diligence is the right thing one can do. You can not just relay on the reputation of the exchange. May be their experts can make mistakes and they can miss something and if it happens then as an investor you will lose your money. So before investing in your money do you own due diligence and this way you will feel safe too.

 

3 hours ago, dentolas said:

for me, even if IEO is held on the moon, I will check everything in microscopic detail 😁

We both are on the same page. I hope all other people do the same. 

[Retno 163]

For exchange website, KYC is necessary, especially from US or europe. Yes, some scam site also use this method to stolen identity. Beware before KYC. 

[xBDT Script 4371]

2 minutes ago, susilabai said:

if anyone want to do scam they can do anywhere , if any IEO goes scam they will just give excuses and even if i am wrong they are giving warning that invest on your risk which itself saves them from any problem.

Yeah that is very true but that does not mean that one should not take every steps to make sure that they are not going to lose their money.

Truth is that in this space too many scammers and that is why I do not invest in ICO/IEOs and in fact I gave up investing in ALTs. I am happy with my BTC holding.

[bestprofi 372]

I am always a bit concerned about it, sharing name, ID number, etc with ICOs or other groups. Can this process be considered trustworthy, I am a bit afraid about data policy.

[dentolas 551]

9 hours ago, xBDT Script said:

 I gave up investing in ALTs. I am happy with my BTC holding.

you sure made me think ... sometimes I think this is the best way... but then, there are so many alts that can really make a difference...

9 hours ago, bestprofi said:

I am always a bit concerned about it, sharing name, ID number, etc with ICOs or other groups. Can this process be considered trustworthy, I am a bit afraid about data policy.

 

7 hours ago, yupi84goro said:

There are many reasons why people avoid the KYC procedure, including because there are so many identity theft.That utilizes KYC procedures, so for some people KYC is a nightmare. Not to mention in the world of cryptocurrency privacy is everything, with the KYC there is no more privacy.
 

Privacy is long gone, we need to face the fact that the internet and our own lack of awareness have taken us beyond the border of privacy... and now, some people are just spreading copies of their IDs online, hoping that they are kept safe and not abused in any way... in a world with so many trust issues, how can we be so blind?

[xBDT Script 4371]

1 minute ago, dentolas said:

you sure made me think ... sometimes I think this is the best way... but then, there are so many alts that can really make a difference...

Well here is the problem. So many that it is really hard to find the good ones. However I have some NEO and ETH in hold and I have positive expectation from them.

Both bought not long ago though so you know I bought them in deep.

[Mohs3n71 0]

when we do a KYC the other side is an exchange probably that is asking us for KYC, but for team member who should ask them for KYC, there will be no such thing unless they add some regulations on ICOs, then you can see that they will do the KYC too