Anonymity - good or bad?

[yhiaali3]

And I think that the majority don’t really want to maintain confidentiality. You just have to go to profiles on any social network, you can find everything there. I’m already silent about the same Google account. Confidentiality is more of a concern for public people, or those who are a little friendly. About anonymity This is generally some kind of fake, it is impossible to save it in the current conditions, you have already been verified 100,500 times, you are just flattering yourself with the hope that this is not so.

Yes, this is somewhat true. There is no 100% privacy. All the sites you browse on the Internet have information about you. Social media, Google accounts, and even decentralized services obtain your IP address and some other private information.

Even in the crypto world, centralized and decentralized third-party services are turning to force users to complete KYC and people are forced to use these services, so they are eventually forced to give up their privacy or anonymity.

[Tribalchief]

Privacy and anonymity are two different things that most of the time we get confused with one another.

I will start by saying that this is totally correct. There is a massive difference here between this two word. Of course, we all value our privacy both online and offline, but so many of us has opt to the idea of anonymity due to external interference in what concerns us. This external interference has all your personal details, which sadly are sometimes obtain from a trusted and reputable company.

If we are to relate this to Bitcoin, we discover that this same external force have also cultivated ways to tracing and tracking people down through transaction whether illegal or legal.

Well, I think Anonymity isn't bad as it seems, but we have to understand that all this started from a group of people who feel the power to obtain people's information and Intrude their privacy is not a huge problem.

[bounceback]

I don't think in cryptocurrency have more privacy again after get agreement for submitting document ID and verifying KYC at all exchange platform indirectly we have publish our data to public. I think the privacy depend on our self how some one know us with cryptocurrency holder after showing them profitable earn from crypto every day at social media account.
Actually I don't care with my data was submit to many exchange market account but I keep privacy my self without show of on social media account about my achieving in cryptocurrency how to protect my self with criminal cases.

[Z-tight]

I don't think in cryptocurrency have more privacy again after get agreement for submitting document ID and verifying KYC at all exchange platform indirectly we have publish our data to public.

Surely if you have done kyc in any centralized exchange, you have lost your privacy and it is going to be hard to get it back. However, you must not use custodial services, you can trade in p2p platforms, and you do not need to register or submit any kyc details when you use them.

I think the privacy depend on our self how some one know us with cryptocurrency holder after showing them profitable earn from crypto every day at social media account.

It is part of it, bragging about your crypto holdings is dangerous and can expose you to a $5 wrench attack. However, completing kyc is also dangerous as the service can lose the data through a hack and it could be sold in the black market.

[Rruchi man]

What do you think is a good balance between maintaining privacy and reducing potential misuse in the crypto space?

Anonymity has its good and bad side , but due to its bad side, the government have been reluctant accepting bitcoins and other cryptocurrency.

There will need to be regulations in some manner before the government will accept it because the anonymity of cryptos like bitcoins will always remain an upset for them to accept. Due to the governments refusal accepting bitcoins and some other crypto due to anonymity, it has affected its adoption.

[Z-tight]

Anonymity has its good and bad side , but due to its bad side, the government have been reluctant accepting bitcoins and other cryptocurrency.

BTC tx's are not anonymous, but pseudonymous, and the only way to achieve anonymity is through mixers or CoinJoin. BTC is legal in so many countries, and a lot of others are indifferent about it, but BTC is decentralized, so the government will see no need for it, but they simply want to regulate it for their citizens and stop them from using privacy solutions to achieve anonymity, that is why they are after privacy solutions.

[electronicash]

Anonymity has its good and bad side , but due to its bad side, the government have been reluctant accepting bitcoins and other cryptocurrency.

BTC tx's are not anonymous, but pseudonymous, and the only way to achieve anonymity is through mixers or CoinJoin. BTC is legal in so many countries, and a lot of others are indifferent about it, but BTC is decentralized, so the government will see no need for it, but they simply want to regulate it for their citizens and stop them from using privacy solutions to achieve anonymity, that is why they are after privacy solutions.

and so this also the reason why they are trying to KYC those wallets and almost turn self custody as a crime. there are already bills supposedly being passed by law makers about this. but i'm not sure if its going to be approved. but governments these days are crazy, it wouldn't be surprising to see them approved.

and then they also want to tax i think 25% for unrealized gains from property investors. to which afaik, BTC is considered a property asset in US.

[bettercrypto]

Anonymity has its good and bad side , but due to its bad side, the government have been reluctant accepting bitcoins and other cryptocurrency.

BTC tx's are not anonymous, but pseudonymous, and the only way to achieve anonymity is through mixers or CoinJoin. BTC is legal in so many countries, and a lot of others are indifferent about it, but BTC is decentralized, so the government will see no need for it, but they simply want to regulate it for their citizens and stop them from using privacy solutions to achieve anonymity, that is why they are after privacy solutions.

and so this also the reason why they are trying to KYC those wallets and almost turn self custody as a crime. there are already bills supposedly being passed by law makers about this. but i'm not sure if its going to be approved. but governments these days are crazy, it wouldn't be surprising to see them approved.

and then they also want to tax i think 25% for unrealized gains from property investors. to which afaik, BTC is considered a property asset in US.

Here in our country, especially in the coming times, it looks like crypto enthusiasts will be taxed here, I just hope the percentage that will be deducted from our crypto earnings is not high.

There is nothing we can do because we are also ordinary law abiding citizens in that regard, although for now anonymous but once the platform we entered is regulated we have no choice but to give or pass Kyc and that's it.

[Fivestar4everMVP]

However, this anonymity has its downsides, it's easy to get scammed. Additionally, there are legal concerns, especially regarding taxation. Some countries are even reducing anonymity to prevent tax evasion. What do you think is a good balance between maintaining privacy and reducing potential misuse in the crypto space?

If we are to talk about the physical world where we all live, I would not see anonymity as such a good thing because just like you said, people can easily get scammed, a person can easily impersonate another person, commit a crime and disappear, and the person who was impersonated will be arrested, prosecuted for a crime he or she knows nothing about, this and many more are the disadvantages of anonymity in the physical world, and I would say that they are too enormous, that is, the disadvantage outweighs the advantage, so, anonymity in the physical world is not advised.

But coming back to online and to crypto in particular, anonymity is a very good thing,  keeping your true identity a secret helps prevent other online users from using your personal details for illegal activities, I've seen some persons download other people profile pics from platforms like Facebook, x, and use the Pic as their own profile Pic in their account, using that same account to scam other online users.
So, keeping your identity hidden online is a good thing I personally would encourage, and about scam, it's our individual responsibility to ensure our online safety, trust no one and trust no offer, no matter how good it appears to be.

[Joseph Lee]

How many of us use aliases in the crypto world? It's fascinating how biases related to sex, age, skin color, or body type seem irrelevant here—it's purely about your ideas and actions. I was on a call the other day, the presenter used a voice changer and there was no video. It felt freeing to engage purely based on the exchange of thoughts.

However, this anonymity has its downsides, it's easy to get scammed. Additionally, there are legal concerns, especially regarding taxation. Some countries are even reducing anonymity to prevent tax evasion. What do you think is a good balance between maintaining privacy and reducing potential misuse in the crypto space?

Just as you rightly exposed, anonymity does have its pros and cons. I personally like to stay anonymous myself, and I'm grateful for the web3 space for providing that option. However, I believe that especially creators or entrepreneurs in the crypto space, its important to be doxxed if you plan to build a great relationship with users. I've seen firsthand how a CEO being known publicly can boost a crypto company's reputation and the adverse effect of staying anonymous

[emmybd]

Anonymity is good for the general people even though there is a risk of misuse, but it is bad for the governments. Generally, governments all over the world want to tax everything. They don't want anything is hidden from them because they get a good amount of tax from its peoples resources.

[Gurujebs]

Anonymity is good for the general people even though there is a risk of misuse, but it is bad for the governments. Generally, governments all over the world want to tax everything. They don't want anything is hidden from them because they get a good amount of tax from its peoples resources.

There is nothing in this life that can't be misused. Do uou remember how Covid 19 spread, it was through the breathing from one person to another as airborne biochemical virus, somebody tries to over played oxygen that human being take in and take out to wipe out the number of people on earth, more like what Thanos was trying to to in Avengers end game.

The government don't just want people to go anonymous because they feel they don't have supremacy over their people when they does that because it does not stop people from paying their tax, msot often people that own bitcoin pay their taxes unless for few people who don't want to pay.

[Agbe]

The anonymity is the best in the crypto community but to some extent we are still identifying some members through the identification of the country base their accent and locale the person comes from. Recently my country government asked Binance to release the uses of the exchange in the country to them but Binance refused. And if the government had an assessed and access the users database then many people that are in the cryptocurrency ecosystem Bank accounts would been blocked, banned and stopped from operating. But the anonymity helps us.

[MRY]

Anonymity is good for the general people even though there is a risk of misuse, but it is bad for the governments. Generally, governments all over the world want to tax everything. They don't want anything is hidden from them because they get a good amount of tax from its peoples resources.

Exactly, the government sees cryptocurrency as a good place to make quite a large profit, therefore currently many governments in several countries are trying to regulate the circulation of cryptocurrency, especially bitcoin. They try to regulate the circulation of cryptocurrency by imposing quite large taxes on those who have cryptocurrency assets.

[Mr. Magkaisa]

I don't think in cryptocurrency have more privacy again after get agreement for submitting document ID and verifying KYC at all exchange platform indirectly we have publish our data to public. I think the privacy depend on our self how some one know us with cryptocurrency holder after showing them profitable earn from crypto every day at social media account.
Actually I don't care with my data was submit to many exchange market account but I keep privacy my self without show of on social media account about my achieving in cryptocurrency how to protect my self with criminal cases.

     -    We know that once we submit KYC on any platform in exchange, the anonymity is really gone because privacy is already held by the platform we send KYC to.

But for me, there is no problem if we give kyc because if there is a good reputation, then I think it is fine, like Okx, Binance, Coinbase, and others. But if you're worried about an exchange, simply don't submit KYC, because it's our choice whether we like it or not.