People changing cryptocurrency?

[TOP_ETH]

people change cryptocurrencies and vice versa because they are interrelated and profitable as a means of payment for trade, art and more

[Aryan0058]

Crypto hasn't only rocked the financial world. It's also shifting the cultural world as well, as blockchain technology has transformed concepts like ownership.

[Speaker]

Blockchain technology has also changed the art market, thereby creating a huge new market for NFT art.

[Carbitcoin]

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[zilzylian]

I am also surprised to see the current development of crypto, just like when you play the Sandbox game, you are required to do KYC to participate in some events, I hope decentralization will always be an important point in crypto, we have seen many DeFi platforms and web3 platforms that really have great idea for long term

[alltalk]

Why don't you call it an innovation? Having more types of crypto aren't bad signs, right? It shows us that crypto is developing and has varied concepts and utility. So, creating centralized coins and stable coins doesn't mean changing crypto world, it is a form of development in crypto. People always have a new idea to improve or develop something, it is also done in crypto. Because of these matters, I disagree if you call it as changing crypto.

[satpol_PP]

I think people changing cryptocurrency.
In my opinion, cryptocurrency was originally designed as anonymous decentralized digital or virtual currency. However, I have notice that there are centralized and stable cryptos. Some team(people) decided to implement KYC(Know Your Costumer) which is good but somehow become a threat to our personal identity privacy.
Do you think cryptocurrency changing us or we are changing cryptocurrency?

I think crypto currency change us.
But talking about KYC , I think It's just the way to reduce scammers
Although crypto is anonymous, but at presale, project teams have rules.

[nakmantu99]

Yeah, crypto change us and I think we also change the rule of crypto to reduce scammers with KYC.
That's good, because there are many scammers there.
Crypto is anonymous, it's teh reason why the govt against crypto

[pelana vreo]

KYC is required for trading and IEO in every crypto CEX exchange, currently Launchpad platforms like Pinksale are doing token sales without KYC, but the project team has to do that so investors don't get scammed, lots of successful anonymous projects like Bitcoin, transactions with privacy coins like Monero , this is a choice and everyone can choose the coin they want, because in general projects are made to provide convenience in making transactions, until now there are still many people who use Coins only for investment and not for transactions.

[Afony]

Cryptocurrency has been changing the lives of people and organizations for a long time, there is only one problem that needs to be fixed, this is fraud, which can be changed somehow.

[Hope4life]

I think cryptocurrencies are developing very fast and there have been cases of money laundering and other criminal acts so a centralized platform that is regulated is required. This is something needs to be done to minimize crime in cryptocurrencies.

[iamwarhawk]

I think crypto was designed to do payment anonymous without any identity leak, but people's demands are changing and which is encouraging many changes in the crypto environment which may not be good for the term crypto in the long run, like the government wants all the data of the exchange who is sending how much crypto and charging taxes on it, which somewhere questions anonymity of the term crypto, as these government agencies can easily track any person and get complete data from exchanges as people have to go through KYC procedure which is mandatory and cannot be skipped by anyone.

[de_prof]

I think crypto was designed to do payment anonymous without any identity leak, but people's demands are changing and which is encouraging many changes in the crypto environment which may not be good for the term crypto in the long run, like the government wants all the data of the exchange who is sending how much crypto and charging taxes on it, which somewhere questions anonymity of the term crypto, as these government agencies can easily track any person and get complete data from exchanges as people have to go through KYC procedure which is mandatory and cannot be skipped by anyone.

You are right, crypto should anonymous, but people change crypto with KYC for their projects and exchange.
But It's just way to reduce scammers there.
So I think It's not big problem.

[densus88]

I think KYC is good way to reduce scammers, As many people said above.
But we know crypto basic is anonymous.
Maybe it will be consideration, just ask KYC at pre sale and project team.

[Speaker]

There are whole farms for automating the KYC process...another thing is for it to have a beneficial effect on the industry, and not become another tool for surveillance