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EU to ban anonymous crypto accounts and privacy coins by 2027

cointelegraph.com

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Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#91

Post by lawn »

sshine wrote: post #62
lordofgibbons wrote: post #52

Earlier quoted context omitted.

Bitcoin advocates pivoted on Bitcoin being a currency after it, to be brutally honest, failed to function as a currency. Last few times I transacted BTC, the fees were anywhere between $5 and $15 and the transaction times were more than 1hr. Not to mention the whole world can see all of your transactions. So they pivoted the marketing to it being a "store of value".

The cost for a Bitcoin transaction today is $0.96. The lowest daily average cost per transaction in the last month was $0.81, and the highest was $2.52.

That's still expensive for cheap things.

And what's worse is that it's impossible to reliably predict the correct fee to be able to get into the next block.

This means that at any time if you're unlucky your payment might get stuck for hours, days or even weeks.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#92

Post by neiman »

soco wrote: post #58
neiman wrote: post #46

I'm a foreigner living in the EU for many years, here's my 2 cents. For over a year, I was locked out of financial services due to my inability to pass KYC. The reason was that I had already left one country, but was still in the process of getting a residency visa in another. During the process, I'm allowed to live in this country, but I have no ability to prove it to any financial institutions. So, no wonder I'm bi…

I assume there will never be any implementation side to focus on, if there's no legal side to push for it. Because as we can clearly see around us, the tech boys don't give a zit on your accesses and privacy and rights, so they have to be pushed to care.

There are plenty of civil organizations and hackerspaces in Europe that focus on such things, not to mention academic groups.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#93

Post by alexey-salmin »

xyzal wrote: post #66

I wonder what benefit to society might having a shadow financial system bring? I can't think of any, except for financing entities operating outside lawful limits.

> I can't think of any, except for financing entities operating outside lawful limits.

The idea is that "lawful limits", even if you wholeheartedly support them now, can change at a whim if a new government is elected or a war starts or some other major crisis happens. These things come and go every few decades, one is not improbable to occur within the frame of your lifetime and place of residence.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#94

Post by lawn »

koonsolo wrote: post #87
beernet wrote: post #64

Earlier quoted context omitted.

Which is still quite a lot. Litecoin (among other alternatives) provides the exact same service for close to zero cost and at a better speed.

Nano offers sub-second transactions at 0 cost.

Nano has a completely different security model though, and isn't nearly as secure/decentralized as Bitcoin/Litecoin/Monero and other standard POW based cryptocurrencies.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#95

Post by alexey-salmin »

neiman wrote: post #90
tpm wrote: post #84

Earlier quoted context omitted.

Maybe this is a dumb question, but I am trying to understand this situation. There are still some physical bank branches and I assume at least some banks will open an account for you with that TPS if you visit a branch. Is that not correct? That way you would have access to at least some financial services, if not those where as you write (remote) KYC is needed.

I tried with one physical bank, and they refused; the expat forums said it's the same with all, though I didn't verify myself tbh. The problem is that the only thing you get is a stamp in your passport saying you applied for a temporary residence permit (including the request number). The border control people can then (I guess) use this number to verify that your case is still pending, so you're legal in the country…

Out of curiosity, which country is this? My experience is quite similar in France (except that I tried more than one physical bank).

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#96

Post by egorfine »

tpm wrote: post #84
egorfine wrote: post #74

Earlier quoted context omitted.

I'm in the same position as the GP. Impossible, because EU bureaucracy sometimes yield kafkaesque deadlocks. For example, some EU countries stated that their permits given to ukrainians are to be considered valid past the printed expiration date and thus stopped producing new plastic for them. Now, good luck finding any KYC provider that will accept that. Or any KYC provider that accepts printed Poland's TPS. Or any…

Maybe this is a dumb question, but I am trying to understand this situation. There are still some physical bank branches and I assume at least some banks will open an account for you with that TPS if you visit a branch. Is that not correct? That way you would have access to at least some financial services, if not those where as you write (remote) KYC is needed.

Local banks know the local quirks.

Global KYC provider couldn't possibly know. To get paid, they need to serve the majority of customers, not all of them.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#97

Post by golbez9 »

koonsolo wrote: post #87
beernet wrote: post #64

Earlier quoted context omitted.

Which is still quite a lot. Litecoin (among other alternatives) provides the exact same service for close to zero cost and at a better speed.

Nano offers sub-second transactions at 0 cost.

Nano shills still exist?! LOL Those bags must be heavy

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#98

Post by tpm »

neiman wrote: post #90
tpm wrote: post #84

Earlier quoted context omitted.

Maybe this is a dumb question, but I am trying to understand this situation. There are still some physical bank branches and I assume at least some banks will open an account for you with that TPS if you visit a branch. Is that not correct? That way you would have access to at least some financial services, if not those where as you write (remote) KYC is needed.

I tried with one physical bank, and they refused; the expat forums said it's the same with all, though I didn't verify myself tbh. The problem is that the only thing you get is a stamp in your passport saying you applied for a temporary residence permit (including the request number). The border control people can then (I guess) use this number to verify that your case is still pending, so you're legal in the country…

Ah this sucks. If I understand correctly, in our country the expats get a separate paper confirming they are here legally which for some uses (one of them is opening a bank account) has the same validity as an ID card.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#99

Post by neiman »

alexey-salmin wrote: post #95
neiman wrote: post #90

Earlier quoted context omitted.

I tried with one physical bank, and they refused; the expat forums said it's the same with all, though I didn't verify myself tbh. The problem is that the only thing you get is a stamp in your passport saying you applied for a temporary residence permit (including the request number). The border control people can then (I guess) use this number to verify that your case is still pending, so you're legal in the country…

Out of curiosity, which country is this? My experience is quite similar in France (except that I tried more than one physical bank).

Poland, and specifically Warsaw, since the process might be a little different in different parts of Poland.

Re: EU to ban anonymous crypto accounts and privacy coins by 2027

#100

Post by harperlee »

dp-hackernews wrote: post #12
harperlee wrote: post #9

Earlier quoted context omitted.

[flagged]

Do you think having an argument will make any difference either way? "Nothing us either good or bad, but thinking makes it so." That's just the inherent diversity of thinking across the whole of civilization and time, and is as controllable as the weather.

Well yes I do - I have changed my mind in the past through discussion with others, so I think that there's value on arguing against a given position that I don't share.

(And, for what is worth, I also think that there are good and bad acts in the world, and that it makes sense to legislate around them.)

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