RE: KYC and AML are Good - Yum
I don't think, not should ask for KYC and AML.
Because most of the crypto currency,
No boundaries, no privacy, no delay, no government,
And most of the crypto currency says that if you lose your private key, they are not responsible.
If the currency of your blockchain is stolen, most of them are not responsible.
Since the crypto currency only recognizes the blockchain,
No supervisory unit, no compensation unit, no responsible unit,
But they will KYC and AML,
Yes or Not too arrogant?
It’s like the official can set fire,
but people can't set light.
If one day?
The government of a certain country says that it does not recognize a certain crypto currency.
Request that the crypto currency exchange located in the country be closed,
As a result, it is closed directly,
What to do ?
Many websites,
Suddenly, it is forbidden to log in or prohibit a person from a certain country from logging in.
But before it was not banned,
those people deposit many crypto currency and went in.
But after being banned,
They can't log in,
So those crypto currency = is engulfed.
Thank you for your input @cloudblade. When Bitcoin and the cryptocurrencies first started to appear, I think many would have agreed with you. However, the knowledge in this space has matured and in order to foster adoption by users and acceptance from governments, we may see a significant push toward certain regulations. In particular those that help stop bad actors.
Hope to see you again.
The original intention of Cryptographic currency should be to hope that Cryptographic currency can become a global currency,
exempt the government from bullying, achieve global co-prosperity, break the currency difference between countries and countries, and bring the economy/environment between countries around the world.
This idea was accepted by weak countries, but was opposed by big countries.
That is, the rich are reluctant to lose their status, and the poor want to divide their wealth.
To say that it is to prevent money laundering, it is a tool for criminals. It is really an excuse.
Such as US dollars:
When you go to buy something with US dollars, will the store ask to check your ID card? Will the store ask you to provide your source of US dollars?
If you use US dollars, you still need KYC and AML!
when store to looks at your ID card, you just didn't bring ID card, should you be detained?
And if you can't say out the source of your US dollar, should your US dollar be confiscated?
Actually,
store does not require KYC and AML.
They only check the money is real or counterfeit .
the US dollar is a real or a counterfeit currency?
No matter who , everyone can use it !
the criminal perpetrator is use more real money or cryptocurrency?
So I said that the cryptocurrency should not require KYC and AML.
I know, It’s just a dream.
Just as I ask for global unification, it is impossible to eliminate economic differences between countries.
It’s just a dream.
But here, often let me think say dream words.
after all ,
There are nearly 200 countries in the world, and dozens of national currencies are strictly controlled.
How any countries give up to control the crypto cryptocurrency ?
So cryptocurrency is bound to require KYC and AML.
The expectation of losing the global currency has fallen back to become a regional currency.
The difference is that the national currency is issued by the government.
The cryptocurrency is issued by the place.
And the national currency exists in the bank, it is more secure.
That's still good to use the national currency.
The cryptocurrency wants to be the first currency, and the result is still only the third.
Dear @cloudblade
That perhaps was original idea. But how often original ideas last? Usually final product / final service is only remotly close to it.
They won't if amount of money is small. If you will try to pay large bill with $$$ then you can expect trouble.
Anyway CASH IS THE KING :)
Cheers
Piotr
You are right
Governments have no right to regulate the thing they hadn't created! Why don't you just go and regulate deer breeding?! Can you regulate that? For sure, if you have a gun. But do you have the right for that? No way!
Dear @coinatory
That's not really the truth and it never worked this way. Gov do not create much but they do regulate them.
Either we like it or not - this always had been this way. It is and it will continue being that way in the future.
Thx for sharing your view.
cheers
Piotr
Dear @cloudblade
I appreciate your comment. Thx for accepting my invitation to this post and sharing your thoughts with us.
Yours,
Piotr