01-11-2018, 03:28 AM
(This post was last modified: 01-11-2018, 03:49 AM by JackOfHearts.)
A warning about ICO investing:
The point of blockchain technology inside Bitcoin and other main cryptocurrency like LTC or ETH is to remove the need to share your identity.
Thanks to that everyone can have a bank account whether they have an ID or not. Which mean most of the poor country who don't have access to ID can participate.
After a while Government to keep their monopole and to fight it invented KYC (know your customer), supposedly to fight terrorism when they are the one creating it because they prevent poor country to develop healthily.
Some ICO out there go in the opposite direction, introducing KYC like it's something to be proud of
and you have rating on ICO which 100% approve them. 
The point of blockchain/bitcoin is that you can trust the other party without the ID verification and without 3rd parties like Banks.
Some ICO remove the banks but still push the KYC rule like it's an improvement over no KYC.
It's like using linux but making it closed source, the whole point of linux is the "open source" (gpl license) part so the community have access to it.
Ripple go one step backward because they reintroduce the third party so they actually work like a Bank (paypal) but they sell it as blockchain technology.
Be careful where you put your money, some of these company certainly will make a lot of money still though (look at Ripple) but that money will be use to remove freedom.
Freedom that was gained thanks to Bitcoin introduction.
The point of blockchain technology inside Bitcoin and other main cryptocurrency like LTC or ETH is to remove the need to share your identity.
Thanks to that everyone can have a bank account whether they have an ID or not. Which mean most of the poor country who don't have access to ID can participate.
After a while Government to keep their monopole and to fight it invented KYC (know your customer), supposedly to fight terrorism when they are the one creating it because they prevent poor country to develop healthily.
Some ICO out there go in the opposite direction, introducing KYC like it's something to be proud of
and you have rating on ICO which 100% approve them. The point of blockchain/bitcoin is that you can trust the other party without the ID verification and without 3rd parties like Banks.
Some ICO remove the banks but still push the KYC rule like it's an improvement over no KYC.
It's like using linux but making it closed source, the whole point of linux is the "open source" (gpl license) part so the community have access to it. Ripple go one step backward because they reintroduce the third party so they actually work like a Bank (paypal) but they sell it as blockchain technology.
Be careful where you put your money, some of these company certainly will make a lot of money still though (look at Ripple) but that money will be use to remove freedom.
Freedom that was gained thanks to Bitcoin introduction.
