You need to provide your identity, when you buy something on credit, which is all transactions except cash, even when the swap seems instant like when you use your debit card.
The reason you need to identify yourself when you are NOT using cash should seem obvious.
Cash requires proof of identification in many places too. The only thing that doesn't require id are bartering with instant exchanges/transactions. Bartering includes precious metals and crypto.
Haha. It's not credit. You have bought crypto for currency. Yes it has often turned into credit because it has no fixed value. Then it's further swapping back into currency. Ding ding, a taxman, or banking cartel stooge suddenly wants to know where you got your cash.
At what point did you need an I.D, you either had the values bought and transacted, or you didn't.
It's not for your benefit. All you need was proof of transaction. Proof of your wallet. If your exchange wasn't protected by crypto. Or if you didn't have a receipt for the goods or services sold. Because you went to bucks fucks, and there's no refunds.
But it's all those other eyes wanting to monitor your capital. They aren't the buyer, seller, or the prior exchange. They're the government wanting to I.D your cash instead. No sooner did they want a credit, cashless society for their peak carbon renewable electricity.
No no, you're not understanding. If you buy anything, except for if you buy it with cash, you're buying on credit. Just because you walk out of the store with the purchase in your hand, that doesn't mean that the bank and the retailer have made the journal entries in their respective ledgers. You are walking out of the store with a credit purchase. How do you think you're able to dispute credit card purchases?
Not what crypto had planned by being an exchange. The credit is only the movement of exchanged capital from transactor to the transaction. What every exchange provides. It therefore only needed an ID of the transaction, not your personal details to the seller. Any default, the exchange should have covered by being a provider, protecting your anonymity. Let's suggest you previously went to bucks fucks, swapping crypto for getting screwed. At no point did you also want to be blackmailed for it.
Credit Cards need your identity, because Blow Joe might have nicked your credit card while you went to bucks fucks. Hence it had your name and signature on it.
Of course now they want to get rid of Bucks Fucks cash flow monitoring just what is being cryptoed.
Blockchain transactions aren't instantaneous, and the mechanisms with crypto aren't there for dealing with essentially the same issue as stolen credit cards. This identity management, by creating vendors that have your ID and work through the blockchain transactions, are taking the credit card way of handling things and applying it to buying something from a store with bitcoin. They are doing it to deal with the risk. The trade off is lack of privacy. Many are people are comfortable with it, some aren't. Depends on what I am buying I suppose for me.
If you want instantaneous proof of payment, use cash, it's your only option. If you want anonymity for your crypto transaction, then you must be willing to wait for the check to clear, so to speak, for the blockchain transaction to be approved by miners.
You need to provide your identity, when you buy something on credit, which is all transactions except cash, even when the swap seems instant like when you use your debit card.
The reason you need to identify yourself when you are NOT using cash should seem obvious.
Cash requires proof of identification in many places too. The only thing that doesn't require id are bartering with instant exchanges/transactions. Bartering includes precious metals and crypto.
Haha. It's not credit. You have bought crypto for currency. Yes it has often turned into credit because it has no fixed value. Then it's further swapping back into currency. Ding ding, a taxman, or banking cartel stooge suddenly wants to know where you got your cash.
At what point did you need an I.D, you either had the values bought and transacted, or you didn't.
It's not for your benefit. All you need was proof of transaction. Proof of your wallet. If your exchange wasn't protected by crypto. Or if you didn't have a receipt for the goods or services sold. Because you went to bucks fucks, and there's no refunds.
But it's all those other eyes wanting to monitor your capital. They aren't the buyer, seller, or the prior exchange. They're the government wanting to I.D your cash instead. No sooner did they want a credit, cashless society for their peak carbon renewable electricity.
No no, you're not understanding. If you buy anything, except for if you buy it with cash, you're buying on credit. Just because you walk out of the store with the purchase in your hand, that doesn't mean that the bank and the retailer have made the journal entries in their respective ledgers. You are walking out of the store with a credit purchase. How do you think you're able to dispute credit card purchases?
Not what crypto had planned by being an exchange. The credit is only the movement of exchanged capital from transactor to the transaction. What every exchange provides. It therefore only needed an ID of the transaction, not your personal details to the seller. Any default, the exchange should have covered by being a provider, protecting your anonymity. Let's suggest you previously went to bucks fucks, swapping crypto for getting screwed. At no point did you also want to be blackmailed for it.
Credit Cards need your identity, because Blow Joe might have nicked your credit card while you went to bucks fucks. Hence it had your name and signature on it.
Of course now they want to get rid of Bucks Fucks cash flow monitoring just what is being cryptoed.
Blockchain transactions aren't instantaneous, and the mechanisms with crypto aren't there for dealing with essentially the same issue as stolen credit cards. This identity management, by creating vendors that have your ID and work through the blockchain transactions, are taking the credit card way of handling things and applying it to buying something from a store with bitcoin. They are doing it to deal with the risk. The trade off is lack of privacy. Many are people are comfortable with it, some aren't. Depends on what I am buying I suppose for me.
If you want instantaneous proof of payment, use cash, it's your only option. If you want anonymity for your crypto transaction, then you must be willing to wait for the check to clear, so to speak, for the blockchain transaction to be approved by miners.