Just got an email from Bitmain maybe, Is this for real?
Is it because of the IPO?
Dear customer,
Thank you for choosing Bitmain!
Our official website https://www.bitmain.com/ will launch the Real-name Authentication on 24/08/2018 00:00 (UTC/GMT +8). Kindly complete the authentication as soon as possible, otherwise purchasing may be restricted/blocked.
Due to regulatory compliance requirements, some personal information including name, ID type, ID number, address information will be collected for the purposes of identity authentication. Kindly log in to our official website: https://www.bitmain.com/ -User Center for real-name authentication. The information collected is confidential and will not be disclosed by us to unauthorized third parties without your consent, except when required for the purposes of meeting government, legal or other regulatory requirements.
Customers are kindly reminded to provide accurate and truthful information for authentication and not to provide data which is false, or which belongs to third parties. Authentication information may not be modified after the authentication is confirmed.
The authentication process will be carried out immediately upon receipt of said personal information, and we will notify you of the authentication result by mail. Our purchase limit structure for the authentication is as follows:
Authority Level LevelDescriptionMaximum Purchase Limit
Authentication not verified ID info not uploaded & Authentication in progress ïż„300,000 on Domestic website & $0 on English website
Authentication passed Customers who have been authenticated Unlimited on Domestic/English website
Authentication failed Customers who failed to get authenticated 0 on Domestic/English website
During the transition periodïŒAug 24thâ Sep 24thïŒ, customers who registered our official website before Aug 24th can purchase up to 1 million RMB from our domestic website and up to 150,000 US dollars from our English websiteïŒAfter Sep 24th, the purchase authority will be consistent with the above table based on the authentication results.
Revocation of our authorization to collect your personal information is accepted. To do so, please email us at [kyc@bitmain.com](mailto:kyc@bitmain.com) . Upon receipt of such revocation requests, we will no longer collect your information, and any personal information held by us will be deleted from our system in accordance with applicable laws and regulations. Please do note that should the revocation be done, you will not be able to purchase any more through https://www.bitmain.com/. Should you wish to purchase from us again in the future, you will need to go through the authentication process again.
Thank you for your kind attention and please do not hesitate to contact us in case of any clarifications required.
I suspect certain agencies are now pressuring ASIC manufacturers to collect customer data, since mining is the only gaping hole left in the crypto market on-ramps. Almost all exchanges are now required to follow KYC/AML, and the only way to anonymously accumulate any significant amount of cryptocurrency is either by purchasing with cash in person or by mining. I would be suspicious of anyone engaging in the former, particularly for amounts over six figures, so the latter was the only way to accomplish this at scale.
This collection of personal information should strike fear into the hearts of any lover of freedom and privacy. @zooko - care to comment?
The very miners who support your network are now in a position where they have to choose between their own anonymity and their wallets. Seriously, what the eff is this? If this is the case, ZCash really is doomed since their promise of privacy and anonymity is just nonsense. I was on the fence about ASICs, seeing both sides, but this puts a bullet in the support of it now.
This is horrible news. If youâre in a communist dictatorship or hostile regime this now means that your country can request your information and further reduce your freedom.
I think we should be researching and implementing a new anti-ASIC, GPU-only algorithm as soon as possible. Bitmain has undermined the trust that miners gave them when they transitioned into Equihash.
In my opinion this goes against the core values of Zcash.
I personally donât see any problems with this request: I prefer having crypto regulated rather than having it underground and the more âKYCâ the easier this process will be.
Shipment information is already very sensible data and adding ID # will only push goverments to upgrade their identification system (maybe on blockchain with zk, sharing only a view key that confirms your nationality and rights without sharing actual ID info).
What is pathetic is requesting all users to add information under 24 hours, they pratically requested a self-ddos attack, lol.
I rather we all donât go grabbing our pitchforks yet. Can anyone link to this regulatory requirement. I was under the impression this was only required for money exchanging services. Not completed consumer products.
@johnwisdom - I have a unique perspective. My life was invaded by a greedy government causing the loss of low seven figures. It was a violent intrusion into my life. I have a unique perspective when it comes to privacy. I believe that itâs impossible to support this ID mandate once you have had your life trampled.
I can assure you that if you give them an inch they will take your ass. If you think massive violations cannot happen to you, I will assure you that they can.
If ZCash does not fork immediately, they have lost all credibility to me. This ID mandate is antithetical to what is ostensibly the core values of ZCash. @zooko - hereâs your opportunity to shine or fail.
It says it wonât go into effect until Sep. 24th .
âDuring the transition periodïŒAug 24thâ Sep 24thïŒ, customers who registered our official website before Aug 24th can purchase up to 1 million RMB from our domestic website and up to 150,000 US dollars from our English websiteïŒAfter Sep 24th, the purchase authority will be consistent with the above table based on the authentication results.â
Iâd wager a dollar (or should it be a renminbi ) that this requirement is an imposition of the Chinese government. I wouldnât trust BM with guardianship of my used Pepsi can, personally.
