KYC ! Electroneum please be careful


#1

Guys I want to say something I m fine with KYC but I think everyone trusts in blockchain and know what cryptocurrencies are, BASICALLY No one wants to make himself verified in order to use or trade or anything else so he will get out the project and this is not good for our ETN community .everyone looks for anonymously trading, developing coins and ETN is good for that and has the potential for that but I don’t know what will happen after KYC .hope from team to think about that cuz we have 2 million active users and we don’t want to lose them or lose our project or our potential neither. Please share your thought with me thanks a lot. keep going ETN :smiling_face_with_three_hearts:


#2

The majority of exchanges require KYC,

you can still use ETN without KYC just don’t use the mobile app, you can still use paper wallets and CLI independently. but eventually you will use an exchange and need KYC, or want to spend it using the app and need KYC.


#3

yea sure we are in the same tune but i think it will be more effective if they still use the app wallet without KYC although it will gain more and more people to our community .just remember that people believe in the project cuz they saw how easy to use send receive and mining without difficulties .i trust the project but i have to look from the view if other people in order to get right thing/ today I was chatting with two of my friends and they decided to went off the project because of that ! see now I’m trying to explain to them about hall thing and it will be good .its was my perspective view hoping from the team to take apart and think about those people .


#4

it’s interesting that it put them off the project, what do they plan to do with other crypto’s instead. they still need kyc somewhere to ever take profits. the world is a changing place and crypto has gone far to long in the dark and governments don’t like it and rightly so. I believe this is the right thing to do and ETN are at the forefront of this, I’m sure you will be able to convince them that this is a winner.
PS they can still be off grid with ETN by using paper wallets and the CLI application.


#5

There are infinately more people that won’t care about KYC than people who do. KYC will not hurt the project at all. KYC or not, the privacy features were removed from the coin so if authorities had to find out who you are, they would. If someone is truely worried about KYC, there are of plenty of other coins they can use.

ETN is for the unbanked and trust me, they don’t care about it at all. They are just thankful to have a way to pay for things.


#6

what will happen, if I don’t participate in kyc? can I still use the website version of wallet?


#7

Lets face it there are coins out there doing the whole anonymous thing and thats what there all about, our goal is mass adoption. I get some were frustrated when Electroneum removed that part but there goal was always mass adoption so if this is what they have to do to get it I hardly think there making a bad choice.

Major players just arn’t going to get involved otherwise, look at other cryptos that have got debit cards, they got them because they are using some form of KYC. Some of the top 10 coins can’t even get one because they don’t know where the money is coming from so this opens up many doors for us.

Lets try and remember what Electroneums goal is and this is what they say they need to do to reach it. Makes sense to me regardless if we individually like it or not.


#8

@fin Electroneum Mobile App and Website Version operate on the same server, so they are identical. If you do not participate in KYC you will not be able to store very large amount of Electroneum on your mobile app wallet.

Yes there are alternatives that are not affected by KYC

A. Electroneum Paper (offline) Wallet - Electroneum Paper (offline) Wallet Guide

B. Electroneum CLI wallet - Basic Electroneum CLI Wallet Guide with Remote Node method


#9

How much can use in the app ? (The limit) without kyc


#11

We maybe only a few years away from all privacy coins being banned by most governments. The idea that currency to the masses can be fully private is absolutly insane. Take the banking sector, take investment sector, take real estate sector and none of these are private. Hate to burst the bubble but mark my words we are not that far away from it being criminal to own and hold any privacy coin! Just like you can not hold a private savings account at your bank you will not be able to hold secret crypto currency for much longer. Most crypto exchanges will be shut down in the years to come and fully regulated. The wild west days of crypto are coming to an end! Electroneum is fully aware of this and I fully welcome the privacy aspect disappearing! Time to get Electroneum main steam and don’t be surprised if all those privacy coins you hold end up a making you a criminal in your country!


#12

if the KYC has been implemented…what will happen to those who registered just to be part of mobile miner…? do they still can open the wallet and mine… me and my brother just bought another thousands of ETN yesterday… we both don’t have valid id that need to be presented during kyc…what will happen to our coins then?


#13

First of all I said that I’m fine with kyc but just tell now more than 10 person’s from my friends take off the project for those i was talking .if your are doing illegal things around like criminals doesn’t make every body doing the same thing you are doing ! Secondly I trust etn and keep going with it .don’t be a…le !
i trust etn community just want to make another view of mine in order to get best community ever .


#14

i think kyc will have ups and down…

downs - this will reduce significant no. who had
plan to register on ETN… becoz right now
ETN is easily accessible, after kyc i think
it would be a hassle for some

ups- kyc will encourage big company to jump
on etn…


#15

I do expect us to loose maybe 50%-75% of our community when this get implemented but the current community really isn’t the future of ETN. Mass adoption will happen when we go main stream and those of us that have invested and hold will be rewarded greatly but there are plenty of us with deep pockets ready and waiting for the mass dump of coins we are going to get from all the people that want to remain hidden with their privacy coins.


#16

Sure yeah everybody waiting for that moment hopefully we will do it .but in my opinion our users right now we can’t just let them go easyly so hope from our team to plan for that .


#17

i hope if the kyc get implemented, we still able to open our wallet but instead put some limitation if we do not do kyc… but still it is good if we can still open it and registered like we used to do…


#18

More than likely KYC is going to be mandatory for everyone that has mobile app or uses online wallets. Don’t comply then the only option would be to transfer to exchange or paper wallet, but pretty sure they are going to make it impossible to use your Etn using any of their platforms. Hence while we are going to get a major dump of coins because people want to remain hidden, sorry your time is up and you either come out into the light or you will pretty much have to sell. So if you don’t like this idea it is a good time for people to sell and move on because it is going to get pretty miserable for those who don’t want to conform to progress!


#19

Under 50 Euros, no registration necessary (Just need a Name). Electroneum CLI wallet or paper (offline) wallet is not affected by the KYC. You may send all your mobile wallet coins to your cli wallet. I supplied a link to a cli wallet guide below.

You can keep up to 50 Euros worth of Electroneum in your mobile wallet before you will be forced to cough up more information. When you reach around 40-45 Euros worth of ETN on your mobile wallet through mining, simply send total amount to your cli wallet.

A guide on cli wallet can be found here: Basic Electroneum CLI Wallet Guide with Remote Node method

We also have a paper (offline) wallet, which simply only stores Electroneum, in order to use Electroneum on your paper (offline) wallet, you would need to go through a paper (offline) wallet import either to cli wallet or mobile wallet in order to extract Electroneum.

Electroneum paper (offline) wallet guide can be found here: Electroneum Paper (offline) Wallet Guide


#20

KYC can be frustrating sometimes but we still need it. If at all we say Blockchain is the future then KYC will reduce any fraudulent act.
Besides the 2m users we have might be just cloned account so with this KYC fake account would be deleted off system. Go ETN


#21

thank you, this really help… i’ve got over 50 euro and still planning to add more