FTX proved the assumptions surrounding KYC and AML wrong. KYC and AML does not lead to less criminal activity.
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Correct me if I am wrong, but KYC and AML are about preventing criminal activity of their users, not of the platform itself.
But FTX bragged about being the most regulated exchange iirc. So this proofs that regulation doesn't always work.
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What rules are regulations based on anyway. It seems like whatever rules the regulations are based on, are already in effect, and that regulations dont add much. They can even do more harm than good.
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When do you will realize that Strike is just another paypal, but over LN?
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There is one difference, and it is LN as a protocol. When I need to send money to PayPal, I need to have PayPal account. But with Strike I can send money to other party (pre-coiner?) without having to have any account with them, just using my LN node at home. And I should not even care do they prefer BTC or EUR or USD or whatever.
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Misleading. You still have to KYC on Strike. That means account.
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I can send money to Strike users without having a Strike account, using LN, that was my point.
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ah ok, that is true.
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Ya, ill have to use cashapp for that use case if it ever comes up.
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I like strike, its a useful payment tool. I dont buy btc on it for a long time. But i just wanted to change my email address 😮‍💨
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Got shotgun kyc'd by Relai because I logged in from a Ukrainian IP address
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Shame on you. Why arent you using Robosats?
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Maybe he is using Robosats. Strike is one of the more popular payment methods on Robosats.
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☝️
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Good point. Why not use Revolut instead
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I could, but how does that solve me sending my KYC stuff to yet another vendor ?
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But they may close your account.
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My Revolut account was cancelled years ago for doing OTC P2P Bitcoin vs fiat trades using HodlHodl.
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Thats against their ToS
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I have to be honest on this one. Strike request for info makes sense from a security perspective. Because you've already been KYC'ed to get in, this is just a simple verification because "normal users" don't typically change their email.
But I agree with your point, I'm super tired of KYC and I think I've done my dair share of KYC buying Bitcoin. I now get paid in Bitcoin and withdraw it right away so come and get me.
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Ive changed my email with venmo, cashapp, paypal, my bank account. No one asked me to take one of those ridiculous mugshots with my ID and some stupid work order #. Not the norm, in my experience.
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Yeah man I'm with you, if all these CEX and CEFI blow-ups and data leaks haven't shown people that KYC offers zero upside and only downside then I don't know what will?
While I find it a pain dealing with P2P scammers when making trades and the premiums aren't great, the cost of doing business continues to be worth it, especially once these KYC lists are turned into a tax witch hunt list which will happen eventually
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Yeah, this is absurd. RoboSats is the best way to buy privately, imho.
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Just use robosats
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