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Why they ask u to provide personal info when buying bitcoin?

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Pepsi

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Why do they ask for ID, photo, date...etc? Is it some kind of a joke or something?
 
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~Dr Juice~

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Why do they ask for ID, photo, date...etc? Is it some kind of a joke or something?
-- LOL. I have no idea. I steer far clear of crypto currencies. I'm more of an old school gold & silver believer. I prefer to hold onto something tangible. However I do believe there's merit in the block chain technology these cryptocurrencies develop that could have value in other applications.
 

JMan

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Why do they ask for ID, photo, date...etc? Is it some kind of a joke or something?
It depends on who you mean bu “they”. There is no requirement to provide ID when trading in bitcoin. I can send you bitcoin or you can send it to me, and we can both remain completely anonomous throughout the entire teansaction. However, if you are using a large scale online broker/reseller, that tou found via google, who doesn’t want to be investigated for running a money laundering operation, they will ask for these things, mostly to discourage people who may have less than honerable intentions from using their service. They mostly cater to users who just need a small amount for a particular single transaction.
 

destroyer

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I have heard that bitcoins are not a “true crypto currency” but that is just something I read once. I think the premise of the statement was that even though you are paying with little pieces of bitcoins they can still see which pieces were purchased by your credit card. I think. I have no experience with bitcoin or any crypto currency but apparently there are better ones? Again this is just out of one article I read on one website. I do not know if that is correct. Maybe if you buy another crypto currency, and then use that to buy the bitcoin it would be more anonymous? I like cash.


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I have heard that bitcoins are not a “true crypto currency” but that is just something I read once. I think the premise of the statement was that even though you are paying with little pieces of bitcoins they can still see which pieces were purchased by your credit card. I think. I have no experience with bitcoin or any crypto currency but apparently there are better ones? Again this is just out of one article I read on one website. I do not know if that is correct.


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If you're using coinbase sure. If you're more connected to the crypto scene, then absolutely not.

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Because if those coins are used for an illicit transaction and traced back to them they need someone to point the finger at. Bitcoin ain't anonymous unless you acquire it with cash.
 

eazy57

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I just made a purchase with bitcoin...

What a fuckin hassle.

I found out thought that my credit card company no longer approves of the purchase of bitcoin.

A real fucking run around. But somehow I feel safer than putting $500 in the mail or fucking WesternUnion to some foreign country.
 
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I just made a purchase with bitcoin...

What a fuckin hassle.

I found out thought that my credit card company no longer approves of the purchase of bitcoin.

A real fucking run around. But somehow I feel safer than putting $500 in the mail or fucking WesternUnion to some foreign country.
Banks don't like crypto. Easiest workaround is to buy a prepaid credit card without restrictions on it.

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~Dr Juice~

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I just made a purchase with bitcoin...

What a fuckin hassle.

I found out thought that my credit card company no longer approves of the purchase of bitcoin.
-- Cryptocurrencies have been around since the 1980's and haven't been able to gain any significant foothold. Bitcoin, for an example, has been around since, I believe 2007-2008, and STILL has not been able to establish itself as a serious contender with consumers. I often look at the retail landscape and notice the glaring absence of retail giants whom DO NOT accept Bitcoin or other kinds of crypto. The likes of Amazon, EBay, and Walmart are just 3 of these industry giants. Even if I had one of these Bitcoins in my e-wallet, I've no idea where in my hometown city I can even transact with one!?! They aren't exactly widely accepted and for that reason, I'm out. The volatility scares me as well. The fluctuations rise and fall with such rapidity that I sense I'd find a roulette wheel at the local casino more sensible and calming. As I mentioned previously, for these reasons and more, I tend to value the tangible silver and gold market.
 
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-- Cryptocurrencies have been around since the 1980's and haven't been able to gain any significant foothold. Bitcoin, for an example, has been around since, I believe 2007-2008, and STILL has not been able to establish itself as a serious contender with consumers. I often look at the retail landscape and notice the glaring absence of retail giants whom DO NOT accept Bitcoin or other kinds of crypto. The likes of Amazon, EBay, and Walmart are just 3 of these industry giants. Even if I had one of these Bitcoins in my e-wallet, I've no idea where in my hometown city I can even transact with one!?! They aren't exactly widely accepted and for that reason, I'm out. The volatility scares me as well. The fluctuations rise and fall with such rapidity that I sense I'd find a roulette wheel at the local casino more sensible and calming. As I mentioned previously, for these reasons and more, I tend to value the tangible silver and gold market.
I certainly wouldn't be investing in bitcoin now. A while back I had about 800 stranded in btc after a source ghosted mid sale. Decided to just leave it until the next time I had to use btc for gear, which never happened. When I cashed it out, it was worth many times that. The way it is now, you'd have to get pretty lucky to make any profits. Currency speculation is a crapshoot.

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Hey Dr juice I’m new here and looking for some info?
You sir are on to something. Whenever I want specific advice about something I ask the person who has stated something to the effect of "LOL. I have no idea. I steer far clear of crypto currencies"
 
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