I’ve seen grandmas lose life savings by crypto scammers. I’ve seen a father on the verge of suicide after falling for a pig butchering scam. Maybe one day you will run an exchange and can make that choice for your business. But I wouldn’t be able to sleep at night if I were wholesale enabling these terrible crimes against the elderly. The best laid plans never survive first contact with the enemy. Don’t judge until you’ve been there yourself.

Replies (3)

Primal Protocol's avatar
Primal Protocol 2 months ago
Scammers prey on weak minds, like malnourished bodies. Animal fats support brain health.
I know about that and *have* seen it firsthand, many times. It doesn't make KYC useful, safe or moral. KYC is not the answer. Read their manifesto. Bullbitcoin is arguing *FOR* KYC!! Submitting to KYC laws is one thing (which I understand from the point of view of an exchange, though fighting that in court too would be useful), but arguing FOR KYC is another thing completely.
and to add to my previous comment : I've also seen grandpas being scammed out of their money through the banking system and sending tens of thousands to random people in the UK, in Thailand, etc. The banking system is all KYC'ed. It doesn't stop those scams. I understand that as an exchange, bullbicoin has to submit because otherwise they'd go to jail. I get that. My beef is with the fact that they argue for KYC, when KYC is really not the solution. But I do see that it is good to try to find ways to avoid or at least limit frauds. But I disagree that KYC is even a part of the solution.