Gotta get that KYC!
Sucks. Fuck KYC now and forever
KYC?
Know your customer. Legal requirement on financial institutions to retain certain customer information and red flag suspicious behaviour.
Got it, thanks
Kentucky Yeeted Chicken
Know Your Customer.
What a dumb take.
Any reason why you think so?
I work in AML and KYC is a key part of that process.
Yeah, it’s an anti-glowie measure, that’s why we like it.
TLA agencies would have no problem with a cover identity to “prove” who they are. Your average citizen is going to have a hard time buying a slightly used social security number that they can use to get an ID that will pass KYC laws.
I think you misunderstood. TLAs want people to prove their identities to prevent or collect data on victimless “crimes” like ML or being a customer or vendor of substances outside of the US pharma-DEA cartels’ authority.
I don’t think that’s a good thing, I think criminalising such activity is a way of oppressing the proles on their own tax dime, especially when white collar not-so-victimless crimes are seldom punished, therefore I am against KYC.
I guess they don’t want anonymous reasons for security reasons. Which is somehng I can understand
Isn’t it a privilege being able to pay with Buttcoin at all?
Bitcoin sucks, and Monero is useless it you have to set up Paypal.
How is monero useless?
“Monero is useless if you have to set up PayPal.”
Meaning they already know your identity because of PayPal(or other required kyc), so using xmr doesnt have any benefit at that point.
Oh yea, I was pretty confused by the bad English
Hahaha, you said “buttcoin” . You’re so funny!
Not.
While not the best thjbg for customers, it helps them reduce fraud and keep the service acceptable.
Since vultr network has a hood reputation, they could be abused to send spam. Having crypto payment only would not prevent them to detect repeat abusers. With a verified payment method they can ID who me they are providing service for.
In an absence of such limitation, abusers can simply create a new email and wallet then get back to abusing.
Cash is king
With a parasitic corpo like paypall kyc is really least of your worries bro
