/biz/ - Business & Finance

>>51191991
Don't be such a clown, regulations would definitely come onboard we just have to find our way around it.

>>51191991
Why is he aiming for the frontal lobe what an idiot

>>51191991
considering KYC and AML are mandatory or most banks, depending on the country, have you seen any bank have as many hacks and frauds as crypto, anon

>>51191991

>>51191991
>KYC and get money in
>use the money to buy an NFT from yourself and your not KYC'd taxfree wallets
>now legally you own a worthless .jpeg
>use your new wallets to participate in DeFi
>???
>taxfree PROFITS

>>51191991
Based. People keep thinking that I'm shorting because I'm being realistic about the current market conditions and they don't even know that I've never provided a single piece of personal information to anyone.
>>51192238
retard crypto is fresh and practically poor when compared to the banking sector. banks have been building and perfecting their defenses for decades now

>>51192238
What don't this fags get? If there's no regulation no way the industry is going to grow beyond it's current marketcap.

>>51192238
What would the difference between TradFi and DeFi be then

>>51191991
I agree. KYC just makes shit like it is today. We need privacy in blockchain. What if i want to pay a friend or merchant? I dont want them to see my entire wallet balance. That's fucking stupid. KYC will just lead to wallet doxing on an unimaginable level.

>>51191991
you misspelled KFC

>>51192433
Do you retards know what KYC and AML is, Know Your Customer and Anti-Money laundering. Has nothing to do with making DeFi more like TradFi

>>51192238
So are you saying KYC would help prevent the numerous DeFi hacks?

>>51192060
You are the biggest clown if you say this without give a suggestion or ideas of how we are gonna bypass the regulation if it definitely come.

>>51192679
Right and crypto needs to follow KYC and AML practices if they want to avoid regulatory crackdowns.
>>51193025
It could help limit it, a least

>>51192415
So you fag is saying if there is regulations, traditional finance can come into DeFi and the market cap grow?

>>51193099
Unless you're doing something shady, you don't need to "bypass" it. KYC procedure is usually pretty simple: it collects basic personal information like name, address, SSN, etc then checks it against lists of known parties involved in criminal activity

>>51193025
Yes!
It would help minimise it to a very good level. So I think it's a win to DeFi space as a whole.

>>51193025
omg yes

Riddle me this - how the fuck do I get fiat into stables to participate in defi without doing KYC on a cex? There is no safe anonymous fiat on-ramp.

>>51193171
And AML procedures also keep track of each client’s transactional behavior to see if it is shows any money laundering behaviors.

>>51193163
This is inevitable. TradFi recognizes their clients need now more than ever with DeFi adoption. They're going to integrate into DeFi

>>51193747
This is why top Swiss banks are in the OpenWealth association with crypto projects.
>>51193171
Also, KYC keeps the essence of DeFi while allowing more regulation. win win

>>51193025
this and there are so many other pros too. Investor protection, industry wide legitimacy, greater quality issuance.

>>51193975
tell them about the cons, too, pajeet

>>51191991
defi with kyc is just a slower, more complex and harder to use version of cefi
same with cryptocurrencies actually

>>51194048
As a pessimist, this is my forte. Valuable projects being excluded, Investors being excluded, worse user experience. Kek

>>51193777
I have yet to see any TradFi institute make use of DeFi technology, jeet

>>51191991
I'll say fuck you, 'cause we'd keep getting fucked if we don't get over this regulations stuff.

>>51191991
Honestly, you retards need to understand that it would have been unlikely for regulations and norms to be changed all of a sudden because of some revolutionary crypto idea. This was going to happen and would most likely benefit crypto and the community for the time-being at least.

>>51194241
And honestly it's a pity that projects since 2018 haven't yet introduced KYC.

>>51193777
What crypto projects are actually allowing this though

>>51194344
ALBT and TRM labs in the OpenWealth association.
ONE and their hackathon to bridge DeFi and TradFi

>>51194296
Are we now Pro-KYC? Don't you fags get it, once regulations come around it's TradFi all again.

>>51192433
Lo, we're talking about finance and you think they won't get that shit regulated? that's a retard thinking.

>>51194401
I think AllianceBlock got a heads-up here with the TIDV trustless KYC stuff. I just prayit's appreiated.

>>51193163
I believe both TradFi and DeFi would work together in a synergistically way to ensure large inflow of capital. Regulation would be needed to achieve this.

>>51194435
This is why we need to develop our kind of KYC, something that's different and still maintains the divide between TradFi and DeFi.

>>51194530
We've stayed 12yrs without regulations bet we can survive more, we just have to resist!

>>51194296
I think Allianceblock is working on TIDV. This will ensure the KYC compliance in DeFi.

>>51194681
It's easy to resist when we have a booming market, can you fucking see how bad they make the market look?
>>51194721
I hope this is accepted, else it'll be another DeFi solution to the mud, though I think they pulled a major string here.

>>51191991
>Retarded in every spelling of the word retarded.
Regulations like most normies said is inevitable but am like fuck their point, if i can not get privacy inna me data and security for a fact then why push it. KYC is just one annoying mf I ain't caught up for, reasons why asides DeFi, wallets like Metamask, Sylo smart wallet and even Trustwallet are my most preferred. Like why KYC DeFi? tf is that even.

>>51193598
pass your money to Embebwe outside 7/11 and he will send you the dogecoin straight from the wallet

oh im posting in a pajeet schill thread.

>>51195015
post nose, kike

>>51195015
Regulations can't be stopped if we really want the adoption which we want to see in DeFI.

>>51195115
Speak English you ain't retarded

>>51194575
Yes. That's actually correct.
The TIDV will facilitate one to be able control their data.

>>51191991
If KYC is not necessary, then you must adopt privacy blockchain

>>51194939
Yes. If the TIDV gets accepted, it would be a revolutionary product in DeFi space as more TradFi will embrace the space.

>>51195257
Regulation is necessary and we must embrace if we want other traditional finance institution to join the cryptospace not privacy blockchain.

>>51194131
Fundrs would be the first when fully functional. Anticipate

>>51191991
>Hear me out chads, I think KYC undermines the goal of DeFi since it keeps the Feds one step ahead of you so they can fuck you. I say fuck them and fuck the regulations. What do you think about this?
Just invest in privacy coins, dipshit. You risk leaking personal info anyway when you dont use privacy coins. KYC just handles the light work of associating addresses with people instead of forcing the feds to do the graph network exercise in an audit. So if you really hate KYC the solution isn't to make the job a little harder for the people pushing it... the real solution is to make it impossible. Don't cook up schemes to make it harder for a snake to hide in your tall grass, just mow your fucking lawn.

>>51195015
You dumb fag gat to understand that if you want the bigger boys in the traditional finance to come into DeFi, you gat to make it safe by regulations (KYC). Know this and grow up pajeet!

>>51191991
Based and privacypilled

>>51195324
Be it TradFi or DeFi, we all need privacy to stay secured and safe in the space, I've been using sienna swap because it's backed privacy backed

>>51193108
The AML practice is very necessary in cryptocurrencies because some politicians now use it to launder money and this is painting cryptocurrencies in a bad image.

>>51195647
Privacy is actually a good idea. But we need to get TradFi and DeFi working together seamlessly and that's why TIDV is needed.

>>51195403
I guess for the Fundrs to be fully functional, the TIDV will have to be incorporated right?

>>51194681
If you truly want the crypto market cap to hit another high, then we need to allow regulations come in so the big institution can easily join the cryptospace.

Only criminal, faggots and niggers are afraid of doing kyc.
Op we know you're afraid being exposed of something illegal

>>51192060
The regulations are coming for sure but whichever way it goes the privacy of users needs to be assured cause it's a fundamental right. I see privacy systems playing a big role in this.

>>51193598
localmonero

>>51195743
What's TIDV about anon?

>>51196385
In simple terms.. the DeFi version of KYC, a user is in control of his data and get to grant others access to it when it's needed

>>51196013
2021 saw a rise in privacy discussion in cryptocurrencies. So yeah it's expected

Just use DEXs. There is literally zero reason to use a CEX these days except for fiat on ramping. You can onramp to crypto through p2p means like Bisq. Its a pain in the ass but once you have funds its easy to use defi to swap between whatever tokens you want including stables.

>>51196620
You're right anon. There has also been considerable innovation in the sector to even have protocols like Railgun which integrate defi and smart contracts to enable privacy.

>>51196730
It's that simple..not your keys not your coin .
Am a fan of DeFi and would rock the boat

>>51196766
We would see more of those projects spring up soonest, how do they work? Bypassing transactions to be seen on chain?

>>51196730
>Bisq
Those are some very... "fair" prices and convenient methods of payment.

>>51195847
This is definitely coming from a brain that stopped updating itself since 2012.

>>51196730
DEXes have their flaws as well but i am quite glad some of them like IL are being solve by new DEXes like that of Alliance Block.

>>51196013
Privacy playing a role in onboarding regulations? How does this make sense?

>>51197947
Sure nigger like you'll never use kyc exchange to get better liquidity no one gives a fuck about not doing kyc only criminals are afraid of it

>>51193171

>>51193163
What else do you expect clown? The introduction of regulations into DeFi will help grow the ecosystem.

>>51195847
oh look, the fatf is running its bot on /biz/ again

>>51193025
How on earth does regulations prevent hacks? Regulations only make DeFi protocols accountable for users funds.

>>51195804
Absolute basedcuck take. The value of crypto is in providing financial freedom for all, without restriction. go back to your bankless podcast

>>51193598
Ever heard of DeFi fag?

>>51192415
>>51192679
>>51193108
>>51193171
>>51193688
>>51193777
>>51193975
>>51195847
https://twitter.com/ronaldpol/status/1457034147491287040

>>51192415
The point of this space is to escape conventional industry. You are forcing a square peg into a round hole

itt greedy fags who will lose everything believing these big financial institutions and regulators are on their side. good riddance

>>51197982
Oh Learnt about that DEX, my friends keeps yelling how it has a mathematic way of reducing IL. didn't give it a shoot at all.

>>51198261
Am not surprised this coming from you.. most like a pajeet texting from the a hole like space.
>>51199930
With regulations comes wild adoption, so projects having compliance infrasture inplace is smart

>>51200122
kek, that is not working, the hacks are overwhelming, and
responsible countries are setting regulations in place.
>>51196537
thats the product from alliance block
>>51195847
A pleb spotted

>>51200223
Exactly my N, these plebs miss the point. Anyone supporting any form of censorship in crypto just outs themselves as a newfag trying to make gibs instead of understanding what this is actually about. That's why I respect bitcoin maxis and what state-captured ethcucks have yet to realise. You are building the exact hellish CDBC prison real crypto provides refuge for.

>>51194435
>Don't you fags get it, once regulations come around it's TradFi all again.
It already is, institutions own majority supply and BTC tracks with the stock market.

Le cryptopunk utopia is long dead. Nothing in crypto is decentralised. The best you can do is wash your shit your shit through a series of privacy coins but your bank is going to still ask you questions if large sums of money show up regularly.

>>51194668
Yeah, a CeDeFi like Freeway that is ready for regulation and has been kept up to date to make sure the security and safety of the users are well taken care of. Accept it or not, regulation is coming kek.

>>51191991
Have you tried growing a pair of balls and saying FUCK YOU to your government because they don't represent you anymore? What ever happened to "no taxation without representation?" Looks like Americucks will just sit back and let the Gman buttfuck their wealth into yachts and mansions because spineless Americucks won't do shit about their government and corporations walking all over them.

>>51201518
>Le cryptopunk utopia is long dead
The darkest visions of the cypherpunk dystopia are encrouching. BTC offers an individual solution.
>your bank
oh lol yet again newfags missing the point

>>51195151
You know being able to only give out as much information that you're comfortable with, will change the whole DeFi game and Allianceblock being in front of this must-have put in a lot to see this idea succeed.

>>51191991
anonymous smart contracts when?

>>51202613
NOW

>>51195324
that's one thing they need to accept, Feds won't let us rest if this regulation stuff is not done with.

>>51191991
The monero thread is thattaway ——->

>>51192415
>>51193171
>>51193221
>>51193261
>>51193688
>>51193747
>>51193975
I give up, too many retards ITT
>Yes I'm also so grateful to justify and plead permission to do what I wish to do with my private propety.
Shills or glowies, and most definitely cucks.

>>51201927
Only defi will survive in this bear market.

>>51192286
now get it out. good luck.

>>51191991
>fuck them
>fuck regulations
you are the one who will be fucked, though

>>51196846
Not really Bypassing txns. It uses zkSNARKS cryptography to enable on-chain privacy for users.

>>51203195
Stop this nonsense. There are many DeFi protocols that got exploited and lost millions of dollars. You don't need to generalize. I've been using their available services since last year kek.

>>51203195
Privacy is being actively introduced into DeFi. Hence, it stands a good chance of making it

>>51202613
>Railgun
Smart contract protocol built on Layer 1.

>>51192060
First things first, people must exercise full control over their assets and identities.

>>51192433
Well, a major difference is the fact that in the former, users can manage their assets from a single account and authorization process unlike the case in DeFi where so many keys have to be individually managed. I consider it to be one of the major security issues

>>51192485
>We need privacy in blockchain.
We fucking need it. The risks of not being private (censorship, targeted attacks of scams and hacks, thefts) etc. cannot be over-stressed.

>>51200941
>>51200092
>With regulations comes wild adoption,
What's needed is some level of self-regulation as enabled by ORE ID's system.

>>51193108
With the public state of the blockchain, KYC tagged to wallet address is enough to comprise secured identities. You can totally tracked and traced based on simple transactions you make on-chain. No fucking privacy and that's freaking ridiculous

>>51194344
Well, Open Rights Exchange (ORE) is an example giving users the option to manage several identities on different blockchains through a single account and PIN. Basically provides the flexibility well known with TradFi

>>51204908
Based. Platforms like Ore Protocol are already handling this well and putting an end to the exploitation of people's identities.

>>51200065
I'm not a bot nigger and if you have no valid point to make then go back retard

>>51201106
It seems you have nothing else to say nigger means I'm right

>>51200941
Stfu faggot you're making it sound like I'm wrong but we all know people will use CeX and do kyc you can't stop them

>>51203195
Not if regulations are not bright in, cause with the jacks and stuff that occurred recently, it'll be difficult. I love that Allianceblock is trying to evolve by pushing TIDV which will provide a trustless KYC, and will go live on Fundrs phase one with DUA.

>>51203273
well, It's an honest opinion faggot... take it or leave it.

>>51201106
If properly implemented, DeFi space as a whole could do a lot with this innovation from AllianceBlock. as said, having a KYC pattern that's still kind of decentralized, that is within the user's control.

>>51204908
the only way to prevent transactions from being selectively censored is by having them appear all the same from an outside observer
this is achieved through default privacy

>>51205360
>No fucking privacy
people are learning

>>51193171
>Unless you're doing something shady

How do you define “shady” in this brave new world? It’s fluid and a social construct like gender as far as I’m concerned. Today everything I do is legal and not at all shady. Tomorrow it takes but the simple passing of a new law and immediately I become shady and illegal. Cannabis growers 100+ years ago went through this. So did every drinker in murica in the 1930’s. So did every possesser of gold in murica 1933. More recently every Canadian truck driver became shady and illegal when they wanted to drive a big rig solo while unvaccinated. Also, overnight about half of america made abortion doctors criminals. Say what you will about each one of these things. I really give zero fucks If your some kind of pro temperance anti abortion Bible bumper, or some “let’s force vax everyone even if they are work from home!” shit for brains. Any day now “the law” is gonna take your rights away. Don’t matter who you are. Give it time your Bible will become illegal. Or give it time and it’ll become illegal to be gay again. Think you live in a world we’re it’s illogical to think the state could both ban abortion AND the Bible? Think again!
Non KYC crypto is great for criminals indeed. Unfortunately crime is here to stay. And another thing that’s here to stay is a police state who will randomly decide your a criminal for random reasons. Once you get branded a criminal by the state best hope you got the same backup plan your local crook does or you can just bend over and take it.