2026-01-15 13:37:33

Have you ever tried registering for an overseas financial platform? The first step alone can be overwhelming. Passport scanning, real-time selfie, blink verification, head turn recognition, reciting random numbers—the entire biometric process makes you ask yourself one question: "I just want to save some money, do I really have to give up my entire identity for this?"

The awkward part is, you can't use the platform at all without submitting this data. The choice is not really in your hands.

Over the years, on-chain identity verification has been stuck in the same dilemma: compliance and privacy are always at odds. Platforms require KYC to meet regulatory requirements, users want privacy to protect themselves. No one is wrong, but caught in the middle is us. Some accept it, some refuse, some choose to use aliases to tinker around, but ultimately, this contradiction remains—how to find a balance between financial security and personal privacy?

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DaoResearcher

· 22h ago

From the perspective of governance mechanisms, this is fundamentally a classic dilemma of incentive incompatibility—the platform's compliance costs are passed on to users' privacy rights. It is worth noting that solutions like ZK-Proof theoretically can break this deadlock, but the actual adoption rate is ridiculously low. For specific reasons, please refer to section 3.2 of Vitalik's paper. According to on-chain data, the current KYC process has evolved into a covert form of centralized taxation. Ultimately, it is due to inadequate token economic design—the platform should bear the risks rather than the users.

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bridgeOops

· 01-15 16:35

Oh no, it's really annoying. A bunch of verifications feel like going through customs. KYC is just ridiculous. The platform says it's for security, I say it's for privacy, and in the end, no one wins. Fake accounts, right? I've thought about it too, but I still have to go through the nightmare process again... Compliance and privacy are really like fish and bear paws. There's no choice at all now. I can't hold it anymore. My face has been scanned so many times.

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ProofOfNothing

· 01-15 14:03

Damn, it's really annoying. Verifying an account is like going through customs. --- Just pass directly, privacy isn't worth that little interest. --- So we still have to rely on small accounts to survive. --- Compliance is just a false proposition; essentially, they just want to control you. --- Anyone who believes in this is foolish. Once the data is uploaded, there's no going back. --- Unless there's some black technology like zero-knowledge proofs, this is a dead end. --- I've already given up on overseas platforms; it's not worth the cost. --- Why can't verification be anonymous? I really don't understand. --- In the blink of an eye, everything is seen through; privacy is completely dead. --- I just want to ask the platform: Do they really protect these biometric data?

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FreeMinter

· 01-15 13:59

Damn, I've been through this process before, it's really intense, feeling like I'm being interrogated. KYC is just a dead end; you can't play without submitting data, but then you get anxious. The platform says compliance, users say privacy, and in the end, we're the ones who suffer. How many times have small accounts been checked? There's no way to escape. Wanting freedom and security, why is it so hard?

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NonFungibleDegen

· 01-15 13:52

honestly the kyc theater is just peak cope at this point... they want your whole biometric blueprint just so you can park some cash lol

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token_therapist

· 01-15 13:48

Bro, this process is really ridiculous, feels like doing espionage review Doing it so complicated just to let me save some money? I'm not money laundering KYC has long needed to be improved, and it's still so crude now Privacy and security really can't be both, gotta choose one Looks like decentralization is the way to go, don't be kidnapped by their methods Is there a way to be compliant without exposing all information? That's why I still trust the chain, not their system It's just that the platform is too lazy to optimize, anyway KYC can solve everything You have to submit your passport, but what about my facial data, what will it be used for in the future? Small accounts can indeed be used, but I always feel like doing this is a bit of a loss Where is the promised Web3 freedom? This still feels like traditional finance

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RugPullProphet

· 01-15 13:48

Really, after going through a verification process, I feel completely exposed... I just want to save some money, why do I have to give up my senses? KYC is truly disgusting, but there's no other choice. This is a classic forced binary choice, it's all uncomfortable. Regulators win big, users suffer heavy losses. Can someone tell me how to balance this? There's currently no balance at all. Using a secondary account is an option, but it always feels like treating the symptoms rather than the root cause.

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RektButAlive

· 01-15 13:45

Really not, this process is just ridiculous. I gave up immediately when reciting the numbers. KYC is just a endless loop, never-ending. Just go with a cold wallet, it's hassle-free. Compliance and privacy are fundamentally a trade-off; pick one. Has anyone tried to fool it with a VPN? Has anyone succeeded? Honestly, users have no say; they have to submit when required. These days, protecting privacy is just too difficult.

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OnchainGossiper

· 01-15 13:40

That's incredible, the level of difficulty in memorizing numbers just left me speechless. This is still called user experience? It feels like being interrogated by the FBI. There's simply no choice; if you want to use it, you have to hand over everything. This deal is too unbalanced. KYC really is, claiming to protect users while aggressively invading privacy. So now a bunch of people are trying to figure out how to bypass it, which only makes things more chaotic. There's no absolute solution; at this stage, we're forced to choose one or the other. The platform benefits, the regulators are happy, but we are the ones who are unhappy.

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