dashed-slug.net › Forums › CoinPayments.net Wallet Adapter extension support › KYC introduction
- This topic has 26 replies, 4 voices, and was last updated 2 years, 11 months ago by tanger.
July 25, 2019 at 12:31 pm #6652
Dash seems to be pretty good on anonymity I think. Monero is fine but really expensive to send/receive. I guess I am biased as I am looking mostly at smaller transaction, rather than the large ones that wealthy people tend to do.July 26, 2019 at 9:25 am #6655
Actually, the whole point of cryptocurrencies is to run your own node. The situation you describe with KYC/AML is simply due to the fact that most people are too lazy to run their own node (yes, it takes some effort, but without it, all you have is the same banking system as before). My intention with this plugin was to be able to connect to your own wallet, the CoinPayments platform was an afterthought, because many people asked for more convenience. If you introduce centralized components into crypto you have something that is much worse than the banking sector (the worst of both worlds). The good news is that these legal hurdles might be exactly what’s required to push people to care about being independent and to actually set up their own nodes.
Personally I would not trust Dash as much as Monero if I wanted to stay anonymous. If you want strong anonymity, I believe right now Monero is the way to go. Yes you pay a premium for strong anonymity, but the fees will be addressed in Monero layer 2.
Personally I see Dash and most coins being overhyped, and only Bitcoin and Monero really have something to offer right now out of all the coins out there. It remains to be seen if Ethereum is useful, depending on whether someone comes up with a real use case for smart contracts, and there are strong arguments against their usefulness as a whole (the whole debate with decentralization vs oracles, identity, etc).
Right now we’re waiting to see if new technologies like Schnorr signatures can be added to Bitcoin layer 1 to provide strong anonymity, because you cannot do anonymity in layer 2 effectively. Monero has strong anonymity in layer 1, and it can now add scaling in layer 2. This is why I find it so promising. Dash on the other hand has been overhyped and some do not even consider it a privacy coin at all. It definitely has much less privacy than Monero and other Cryptonote forks.
Best of luck if you decide to set up a node.July 26, 2019 at 10:56 am #6656
You’re right of course, stupid of me to think there might be shortcuts on the road to freedom, they are cul-de-sacs. On the other hand there is your work here. We just have to be careful which ones to take.
Thanks for reminding me.June 15, 2020 at 12:21 pm #8609casperdreParticipant
hi, for kyc i use a plugin called token of trust. it’s actually pretty good, you can get it of the wordpress repoJune 16, 2020 at 5:42 am #8610
@casperdre Thank you for sharing this! Sounds like your experience with it was good. Did you have any issues integrating with the plugins? Did you use it with Ultimate Member or some other membership plugin?June 22, 2020 at 10:04 am #8637
I have reviewed the Token of Trust plugin and it does indeed look like a good fit. It assigns user Roles depending on whether a user is verified.
It is possible to use the Wallets → Capabilities menu to control which Role can do what.
Therefore, an admin can disallow withdrawals or trades for people who are not verified.
Thank you @casperdre, this is a good solution. From now on, Token of Trust what I recommend admins use when they need KYC for legal compliance.June 29, 2020 at 11:50 am #8698
Since Token of Trust is such a good fit, the Exchange extension now uses TGMPA to recommend that the admin installs Token of Trust. i.e. it is a non-essential dependency since version
1.3.2of the Exchange extension.June 29, 2020 at 1:50 pm #8701tangerParticipant
If you are forced into making this or some other KYC program mandatory your plugin becomes useless.
KYC is the responsibility of the individual.
Please let us know if Law Enforcement or some other three letter bureaucracy is pressuring you into HELL.
Thank you.June 29, 2020 at 2:16 pm #8702
I have added the plugin as a non-essential dependency. In other words, the plugin recommends to the admin that they use this plugin. The admin can choose to dismiss the notice.
No one is pressuring me, KYC is an obligation of site operators.June 29, 2020 at 2:44 pm #8704
“Token of Trust” !!! how stupid do these control freaks think we are? Or are they right?June 29, 2020 at 2:48 pm #8706
Please relax everyone. A number of users have asked me for a KYC solution, and now that there is one, the plugin RECOMMENDS that you use it. You can choose to ignore the recommendation if you believe that you are in a jurisdiction where these laws don’t apply to you. It’s up to you. Nothing has changed. I am not forcing you to do anything.June 29, 2020 at 2:50 pm #8707tangerParticipant
The Lizard People are Dying.
The New Earth is being born.
They think you are a moron. But their time is finished.
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