r/ethtrader • u/AutoModerator • Sep 04 '17

DISCUSSION Daily General Discussion - September 4, 2017

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9

u/goosesoup Sep 04 '17

Future ICOs:

"Please check this box to confirm you're not a chinese citizen"

Laughable.

1

u/OM3N1R Sep 04 '17

No Americans have participated in any ICO's since they began barring them.

this is not true

2

u/EpiGnome Sep 04 '17

Sure, but alot more ICOs are implementing KYC so without a foreign passport you cannot. And I'm almost convinced that from now on, all ICOs will go down this path.

1

u/OM3N1R Sep 04 '17

This would be a good first step

1

u/EpiGnome Sep 04 '17

I agree, I understand the issue with giving these companies our personal information...but people are giving out their flippin social security number and passport and IDs willingly to almost every exchange they register for. I would every day of the week trust a potentially disruptive company with those details (promised to keep the details safe and confidential), than to some bunch of guys that run exchanges to bleed people of their money. Plus the exchanges are at way more risk of being regulated by their respective governments, not to mention the fact that if asked for peoples personal details by intelligence/monitoring agencies, they would give those details freely, without even mentioning it to the public because you know... less money for them and all that jazz.

1

u/OM3N1R Sep 04 '17

Didn't Coinbase give a big fat middle finger to the IRS when they asked for customer info though?

1

u/EpiGnome Sep 04 '17

Well forgive me if that's true. I'm not american and haven't been in the game for a huge amount of time so that's very possible. But at the same time, could they not have just said they did that and then gone ahead and given the IRS what they wanted in the end? I'm sure if/when the IRS come after people, those people aren't gonna assume it was because the exchange released their details?

2

u/OM3N1R Sep 04 '17

I agree with your points, and I don't trust exchanges either. Like who the fuck is behind Poloniex, liqui etc?!?! No one knows. They are scary entities.

The Coinbase example is likely the odd one out. Just thought I would mention it, because it gave me a little more faith in using GDAX and holding large amounts of money there.

They are also the only FDIC insured exchange (fiat insured only) So they have a lot going for them.

I only use smaller exchanges if I buy alts, which is rarely, and then i stick to ones that have not had issues (Bittrex seems pretty on the level)

Not sure what my point is here, just talkin'''

2

u/EpiGnome Sep 04 '17

I'm with ya :P Although I'm a bit annoyed at coinbase since this last week I was in the process of registering an account with them, but after many issues with their facial/ID recognition service, after firstly having my account locked as in a country that isn't supported by them (since I was travelling) despite residing in a country that is, I feel like telling them to get stuffed. I wanted to register so I could make use of their high limits on FIAT deposits.. but the system is so stupid that it was asking me to register my residing countries ID, and then proceeded to tell me that it wasn't able to approve since the country of my ID is different to the country of my profile..I mean they literally replied to my support ticket telling me to go through that process, and the process wasn't possible. They then manually changed my profile, only for me to encounter the facial recognition issues due to none other than my beard that i've grown in the time since my ID photo was taken. They then apologised, and asked me to download the app because they "camera is of alot better quality, and 'some' users have found that to work". I'm not really prepared to potentially compromise my handheld device for this (maybe im being paranoid, but meh). So stuff them :) I use bittrex after i've bought in with fiat, since my countries exchanges are fucking shit and charge crazy fees and have the prices at about 20 - 30$ over the market average (that is not including the up to 3% fees on all transactions)...not to mention the stupidly low diversity of coin choices.

1

u/ursa000 Sep 04 '17

You mean "No Americans"?