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To add to this, Brave appears to force you to use Uphold in order to "verify" your wallet. So this is absolutely Brave hiding your coins from you until you dox

by toolz 5y ago

To add to this, Brave appears to force you to use Uphold in order to "verify" your wallet. So this is absolutely Brave hiding your coins from you until you dox yourself with a third-party. It's entirely possible to trade bat for many other coins on exchanges without KYC, but Brave forces you to be unable to do that (regardless of your local laws it seems?) This is something Brave could easily fix by just exposing an API to allow you to do what you want with your BAT instead of forcing you to use a third party KYC service.

gjsman-1000 5y ago
This is true. When you "receive" BAT in your browser, your browser is not a wallet. You can't send it to any address of your choice, or move it to an exchange that doesn't require KYC like Uniswap. The only place you can send that BAT you "received" is "verified creators" in the Brave ecosystem. It's much more like an IOU BAT than real BAT. If you want to get real BAT that you could send to any address, send to Uniswap, or cash out, you must create an account on Uphold and complete full KYC before you can withdraw. That's when, invisibly, the IOU BAT becomes functional, cryptocurrency-like BAT. It's like there are 2 BATs in reality despite the marketing. FakeBAT and RealBAT. FakeBAT only works within Brave's approved creators and is what you receive in your browser, and you can convert it to RealBAT which is on Ethereum and ERC20 compliant but only if you do KYC.
- gjsman-1000 5y ago
  An addendum to my statement above: This also means, implicitly, BAT is not a private token. All BAT ultimately comes from people who completed KYC. This means that ultimately, if the government wanted to hunt down where someone's BAT came from, it's really easy when you've KYC'd the entire ecosystem. And, you might be OK with that for what it is, and might not want money laundering. Fine, but don't advertise it to me as an extension of a privacy browser. This is perhaps the least private cryptocurrency ever outside of USDC.
- andai 5y ago
  Isn't this for legal reasons? I'm pretty sure my crypto exchange couldn't give less of a crap about my ID but due to anti-money laundering laws every exchange I've used has had to ask me for it.

by toolz 5y ago

gjsman-1000 5y ago

This is true. When you "receive" BAT in your browser, your browser is not a wallet. You can't send it to any address of your choice, or move it to an exchange that doesn't require KYC like Uniswap. The only place you can send that BAT you "received" is "verified creators" in the Brave ecosystem. It's much more like an IOU BAT than real BAT. If you want to get real BAT that you could send to any address, send to Uniswap, or cash out, you must create an account on Uphold and complete full KYC before you can withdraw. That's when, invisibly, the IOU BAT becomes functional, cryptocurrency-like BAT. It's like there are 2 BATs in reality despite the marketing. FakeBAT and RealBAT. FakeBAT only works within Brave's approved creators and is what you receive in your browser, and you can convert it to RealBAT which is on Ethereum and ERC20 compliant but only if you do KYC.

gjsman-1000 5y ago
An addendum to my statement above: This also means, implicitly, BAT is not a private token. All BAT ultimately comes from people who completed KYC. This means that ultimately, if the government wanted to hunt down where someone's BAT came from, it's really easy when you've KYC'd the entire ecosystem. And, you might be OK with that for what it is, and might not want money laundering. Fine, but don't advertise it to me as an extension of a privacy browser. This is perhaps the least private cryptocurrency ever outside of USDC.
andai 5y ago
Isn't this for legal reasons? I'm pretty sure my crypto exchange couldn't give less of a crap about my ID but due to anti-money laundering laws every exchange I've used has had to ask me for it.