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RE: The rocky road to SteemFest #4, part 2

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The rocky road to SteemFest #4, part 2

markkujantunen (74) in roadtosteemfest • 5 years ago (edited)

It must be just me, but all those exchanges I have previously used to exchange Steem with, have disabled it for some reason or another.

Coinmarketcap lists 32 exchanges that have STEEM listed.

"All payment processors will be required to implement KYC and share data with at the very least upon request."

And I don't agree with the policy. I have given my information to a couple places, but I am not in a habit of dealing out my personal info to everyone.

I'm afraid their policies are based on legal requirements.

And did you know that some of them steal your coins if you don't provide them with that information? And you have no way of getting them back unless you give in to their extortion.

I'm not surprised at all. If you want to avoid KYC, I don't think there are many other ways other than over-the-counter trades between individuals.

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5 years ago by markkujantunen (74)

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gamer00 (67) · 5 years ago

Coinmarketcap lists 32 exchanges that have STEEM listed.

12 – They list 12, none of which I have ever used. Actually that isn't right. I have used one of them, that is OpenLedger DEX, but not by logging in or creating accounts or filling in KYCs, only by using the Bitshares standalone wallet.

I'm afraid their policies are based on legal requirements.

Bad laws. Consider this: Someone breaks into some of these exchanges and steals the KYC data and information on how much each person owns cryptocurrencies. Does that not make you think it might be a dangerous and a very detrimental law? Just sayin'.

I'm not surprised at all. If you want to avoid KYC, I don't think there are many other ways other than over-the-counter trades between individuals.

That said, hopefully p2p exchanges and atomic swaps become the norm soon.

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markkujantunen (74) · 5 years ago (edited)

12 – They list 12, none of which I have ever used.

My bad. The list contained many of them several times as it was a list of exchange pairs.

Actually that isn't right. I have used one of them, that is OpenLedger DEX, but not by logging in or creating accounts or filling in KYCs, only by using the Bitshares standalone wallet.

Well, yes Bitshares is an interesting case.

"I'm afraid their policies are based on legal requirements."

Bad laws. Consider this: Someone breaks into some of these exchanges and steals the KYC data and information on how much each person owns cryptocurrencies. Does that not make you think it might be a dangerous and a very detrimental law? Just sayin'.

Sure. But I don't make the laws.

"I'm not surprised at all. If you want to avoid KYC, I don't think there are many other ways other than over-the-counter trades between individuals."

That said, hopefully p2p exchanges and atomic swaps become the norm soon.

Atomic swaps and outdated tax laws have the potential to wreck lives. The laws are idiotic indeed. To my knowledge, there is just one MP, Anna Kontula of Left Alliance who is trying to campaign for more reasonable treatment of crypto-assets. This is not the first time I notice her to have probably the most sense in her head out of all the MPs.

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