What KYC actually means

avatar

what_kyc_actually_means.jpg

Some people are complaining that their favorite platforms are shoving that KYC shit so deep down their throats that it resembles an endoscopy. And I can't blame them for feeling that way, if your information is out there, sooner or later the government will find out how much shiny internet tokens you own and they will obviously want their cut because why the frick not.

We are headed into a gradually more regulated crypto space which can be good in a way, meaning less people getting rugged, but if that comes at the price of privacy we're gonna end up right back were we started, before crypto was even a thing.

I see the appeal of using platforms like nexo or celsius, however I wouldn't want to wake up one day with letter in my mailbox telling me that I owe the fat government bastards a whole ton of taxes on my crypto.

Hive has a pretty sweet thing going on right now if you choose to remain private, because nobody will ask for the KYC crap. But speaking of absolute privacy I'm not sure if your IP can be tracked while using the blockchain, maybe some of my big brain friends can enlighten me with that.

Ps: It would have been easy to use the standard Drake template for this meme but I wanted something more spicy, I hope the connoisseurs among you will enjoy this original variation :P

hive-104024 leofinance proofofbrain vyb ctp archon neoxian meme palnet hive
0
0
0.000
17 comments
avatar

I am not sure if the gov can track us here, but I would tend to say 'yes'. The thing is that somebody needs to rat you out to the government in order for them to become active and as far as I know those Exchanges that have bank accounts connected need to inform the institutions if they see something fishy going on. I am really not sure in what capacity and I am talking out of my ass here but I am pretty sure that is the case.

If we ever see a large scale operation where IDs are connected to crypto wallets by the state it might be the end of all Crypto.

0
0
0.000
Reply
avatar

If we ever see a large scale operation where IDs are connected to crypto wallets by the state it might be the end of all Crypto.

I hope crypto is more resilient than that

0
0
0.000
Reply
avatar

The only complaint I have of Hive in avoiding the State or other bad actors is that there is no privacy here. I would like to be able to hide my wallet at least.

0
0
0.000
Reply
avatar

It has its ups and downs, at least you can see who is supporting Hive and who is just using it for their own gain and not care about what they are pumping.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

I guess we just need to tell the govs to back off, then it wouldn't really matter and we could go about our lives.

0
0
0.000
Reply
avatar

I think hiding the amount of Hive you own would be kind of difficult because even if you could hide that number people could deduce it by how much your vote is worth

0
0
0.000
Reply
avatar

I think having a VPN helps the IP tracking somewhat, It will be the end of crypto if it all goes KYC.

Posted Using LeoFinance Beta

0
0
0.000
Reply
avatar

Do you think that "ALL" people will just say okay and kyc..we give up to you oh government.... nope...

0
0
0.000
Reply
avatar

There will always be a company that does not want or need KuckYC that fill the space to get around the theft of the government. Just depends how and what you need to do to clown around....If people just take crypto directly there is no need to transfer into Fiat enabling the government buy guns with your taxes to use against you….take crypto directly and use business that use it directly and Technologically Leap Frog the old ways of slave state society. Frog…ha get it frog, and not drake cus he only jumps when his masers tell em to. Nice meme !PGM !PIZZA

0
0
0.000
Reply
avatar

somebody is felling punny today :)))

0
0
0.000
Reply
avatar
(Edited)

!LOL yes most days, it take a good audience to get them though,,,, ;-)

0
0
0.000
Reply