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It's Brave's fault if they only give you access to your BAT coins after signing up with Uphold. There should be no reason they hide access to your coins until

by toolz 5y ago

It's Brave's fault if they only give you access to your BAT coins after signing up with Uphold. There should be no reason they hide access to your coins until you use a third party service to dox yourself. Brave may not be implementing the dox'ing, but they appear to be requiring you to use someone else's implementation which is absolutely their fault.

mumblemumble 5y ago
I am guessing that the parent comment has it right. This is admittedly outside my area of expertise, but I would assume that the system they have for managing BATs is subject to the US's Know Your Customer laws, which require financial institutions (including crypto exchanges) to, well, know their customer. Personally. They have to figure all that out before they give you access to your account. Which means, yeah, there may well be a good reason for them to require you personally identify yourself before giving you access to the tokens: if they didn't, they'd risk getting into serious trouble with the authorities. They didn't technically need to contract that stuff out to a third-party company, of course. But, from a practical perspective, they did. They're a small browser company and financial regulation compliance would be a huge and burdensome departure from their core skill set. I don't think they could have afforded to do it themselves.
- gjsman-1000 5y ago
  And that's all right and good, I'm actually OK with this being the requirement for a system like this if a browser that rewards you with crypto is available. What I'm not OK with is that Brave isn't upfront about this.
  - mumblemumble 5y ago
    Indeed. It's weird to see an organization whose entire sales pitch is, "Trust us, we're trustworthy," that persists in acting unnecessarily skeezy at seemingly every turn. Like, you half expect their next blog post to be, "We've been trying to reach you about your car's warranty..."
- ipaddr 5y ago
  kyc laws only applies to exchanges that allow cashing out. I don't understand why kyc would be required here. The browser user should be the miner getting a reward as a private key. They should be able to move it to any exchange (this is where kyc is required) or trade privately. Why they chose to implement the design in this way is not what I would expect.
  - mumblemumble 5y ago
    > kyc laws only applies to exchanges that allow cashing out. I don't understand why kyc would be required here. Because cashing out is kind of the entire point of BAT? If creators couldn't redeem their BATs for actual spendable currency, they wouldn't really be any different from a Facebook Like button that people have to pay to click.
    - toolz 5y ago
      People sell their redditor accounts frequently for their digital tokens (upvotes) - reddit does not require people to use KYC. Yes, I understand there is an implicit difference here, but this just shows how dumb KYC laws are to begin with as they can be easily bypassed by criminals and serve only to dox the law abiding citizens. I, as a pro-social, well behaving, net positive contributor to society - have to trust everyone I do business with with my personal information. It's honestly absurd, if I were a criminal I would bypass this with great ease, yet because I want to behave legally I put myself at risk for identity theft frequently just to be able to do business with other people who also likely don't want to be responsible for securing my private information.

by toolz 5y ago

mumblemumble 5y ago

I am guessing that the parent comment has it right. This is admittedly outside my area of expertise, but I would assume that the system they have for managing BATs is subject to the US's Know Your Customer laws, which require financial institutions (including crypto exchanges) to, well, know their customer. Personally. They have to figure all that out before they give you access to your account. Which means, yeah, there may well be a good reason for them to require you personally identify yourself before giving you access to the tokens: if they didn't, they'd risk getting into serious trouble with the authorities. They didn't technically need to contract that stuff out to a third-party company, of course. But, from a practical perspective, they did. They're a small browser company and financial regulation compliance would be a huge and burdensome departure from their core skill set. I don't think they could have afforded to do it themselves.

gjsman-1000 5y ago
And that's all right and good, I'm actually OK with this being the requirement for a system like this if a browser that rewards you with crypto is available. What I'm not OK with is that Brave isn't upfront about this.
- mumblemumble 5y ago
  Indeed. It's weird to see an organization whose entire sales pitch is, "Trust us, we're trustworthy," that persists in acting unnecessarily skeezy at seemingly every turn. Like, you half expect their next blog post to be, "We've been trying to reach you about your car's warranty..."
ipaddr 5y ago
kyc laws only applies to exchanges that allow cashing out. I don't understand why kyc would be required here. The browser user should be the miner getting a reward as a private key. They should be able to move it to any exchange (this is where kyc is required) or trade privately. Why they chose to implement the design in this way is not what I would expect.
- mumblemumble 5y ago
  > kyc laws only applies to exchanges that allow cashing out. I don't understand why kyc would be required here. Because cashing out is kind of the entire point of BAT? If creators couldn't redeem their BATs for actual spendable currency, they wouldn't really be any different from a Facebook Like button that people have to pay to click.
  - toolz 5y ago
    People sell their redditor accounts frequently for their digital tokens (upvotes) - reddit does not require people to use KYC. Yes, I understand there is an implicit difference here, but this just shows how dumb KYC laws are to begin with as they can be easily bypassed by criminals and serve only to dox the law abiding citizens. I, as a pro-social, well behaving, net positive contributor to society - have to trust everyone I do business with with my personal information. It's honestly absurd, if I were a criminal I would bypass this with great ease, yet because I want to behave legally I put myself at risk for identity theft frequently just to be able to do business with other people who also likely don't want to be responsible for securing my private information.