> I don't know what KYC is KYC = Know Your Customer > but I'm not US based When sufficiently large sums of money are involved, it's hard to conduct legal bus

> I don't know what KYC is KYC = Know Your Customer > but I'm not US based When sufficiently large sums of money are involved, it's hard to conduct legal business and not play by US rules. Swiss banks discovered this, at considerable expense to themselves and their customers. Cryptocurrency exchanges are going through the same discovery process right now, in both the legal and the philosophical sense. > > Instantly liquid programmable assets The unfortunate property of the liquidity of cryptocurrency assets is that they have a tendency to get siphoned away or evaporating in ways not anticipated by their owner. > > Financial censorship resistant > Is this a feature? Don't we as a society want a way to control e.g. drug lords and tax evaders moving their money around? That's precisely one of the questions at stake here. Some folks appear to pine for the benevolent overlordship of the likes of, say, Ross Ulbricht.