Screw DAN.com (Wtf these demands??)

[Coindoji]

Hey,
I've sold a name on DNWE (processed through DAN.com), and this is what I received :

Hi there,

If you wish to receive a BTC payout we will need you to send the below details to [email protected]:

- A copy of a Government-issued ID/Passport

- A recent utility bill which confirms your address

An image of you holding your ID/Passport

Mention the domain name of your sale and your own name in the title of the email.

Do note that you will only have to perform this verification once, so we won’t bother you with this again.

Please notify us once you’ve sent the details.

Thank you!




I've selected Bitcoin payout FOR EXACTLY THESE REASONS - TO KEEP PRIVACY. I would understand the request if it was a bank payment, but I've selected cryptocurrency exactly to avoid dealing with this crap.

This is freaking ridiculous... Isn't it?

 

[Tudor V]

Pretty much any registered company that work with cryptocurrencies have am AML/KYC procedure these days, usually because the country's government is taxing the transactions, also if we involve an escrow service, then the company that process the transaction can be hold accountable in an eventual law suit if a domain is purchased with stolen / laundered cryptocurrency. Is very similar with the banks & cash imo, but your point on the privacy thing is still valid mostly for peer-to-peer transactions. Correct me if I'm wrong on this.

 

[NickB]

Pretty much any registered company that work with cryptocurrencies have am AML/KYC procedure these days, usually because the country's government is taxing the transactions, also if we involve an escrow service, then the company that process the transaction can be hold accountable in an eventual law suit if a domain is purchased with stolen / laundered cryptocurrency. Is very similar with the banks & cash imo, but your point on the privacy thing is still valid mostly for peer-to-peer transactions. Correct me if I'm wrong on this.

Yeah, especially after the Panama papers & FinCen files I think companies are going to be even more careful going forwards to make sure their backsides are covered....

 

[Coindoji]

I’ve sold directly through escrow, sedo and afternic - they ask none of this shit.

 

[NickB]

I’ve sold directly through escrow, sedo and afternic - they ask none of this shit.

Afternic & Sedo don't offer Crypto payments though?

 

[Samer]

Let’s @ the owner of DNWE.com
@Josh R, and @DAN.COM

Good luck.

 

[Samer]

Afternic & Sedo don't offer Crypto payments though?

Neither does Escrow.com

Just saying..

 

[NickB]

Neither does Escrow.com

Just saying..

 

[YairDD]

This is weird, I've sold a domain a few weeks ago on DAN and received a Bitcoin payment and they did not ask me for this.

 

[Samer]

This is weird, I've sold a domain a few weeks ago on DAN and received a Bitcoin payment and they did not ask me for this.

Now we’re getting somewhere;
Could it be possible @Coindoji flagged?

It kills the whole purpose of “anonymity”
Require this extra verification new accounts?

 

[gilescoley]

Too many scams involving Crypto/BTC etc

 

[MapleDots]

I’ve sold directly through escrow, sedo and afternic - they ask none of this shit.

I can only assume this will change soon, in Canada the tax code has changed to specifically mention crypto payments. Businesses have to report the transaction just like every other transaction but crypto goes one step further whereas the government will want to be notified for each transaction to assure taxes have been paid.

The only way to get around that now is private transactions or companies that are kind of in a shady grey area where they don't report profits to the government.

Like I said, this is for Canada, I know the IRS is just as eager to tax so I would presume if a similar system is not in place it probably soon will be.

 

[Coindoji]

Now we’re getting somewhere;
Could it be possible @Coindoji flagged?

It kills the whole purpose of “anonymity”
Require this extra verification new accounts?

Too many scams involving Crypto/BTC etc

Scams of what?

I sold the name on DNWE, and I'm a member of DAN for 7+ months.



p.s. Have I ever said about crypto+SEDO/Afternic? No, I don't care how to receive my payments - bank, card, or crypto, but since they offer this option I thought it would be a nice way to keep myself 'somewhat' anonymous - they still have my IP, MAC, cookies and whatever.

 

[pb]

There is no such thing as selling a domain anonymously.

 

[Coindoji]

You really need to learn reading first before posting anything.
The deal is receiving payment not selling domain, let alone the entire issue is that they offer crypto yet they require ridiculous amount of info to use this method.

more-so, they don’t require anything to get paid to my bank account but they want a shit ton of info if I ask for crypto withdrawal.

 

[pb]

You really need to learn reading first before posting anything.

"I've selected Bitcoin payout FOR EXACTLY THESE REASONS - TO KEEP PRIVACY."

I possess the ability of reading, thank you very much. You wanted "privacy", there is no such thing in transactions, you can keep your details private from the buyer but not from the broker / escrow agent. They have to adhere to a lot of different laws, *especially* when dealing with cryptocurrencies.

 

[johnn]

I guess if you look handsome then they don't ask too much.
I just sent them my picture and they did not ask me anything.

 

[wot]

I guess if you look handsome then they don't ask too much.
I just sent them my picture and they did not ask me anything.

Probably scared them in to compliance!

 

[MapleDots]

I guess if you look handsome then they don't ask too much.
I just sent them my picture and they did not ask me anything.

And it looks like you've aged a bit since your Johnny Depp days

I have to say I prefer the current avatar if it is truly you.

 

[gilescoley]

Scams of what?

Loads of scams involving bitcoin and other cryptocurrencies, just google it and you'll see. This is why all this painful verificatinon is required...and not every registrar will have the same level of verification

Scams involving domains as well. Search this forum for more info.

 

[tonyk2000]

Indeed, DAN has no reasons to trust each and every customer by default, as there is a lot of shady stuff, stolen domains, etc.

Similarly, the customers have no reasons to trust that the security of all DAN (or any other marketplace) systems is, and will always be sufficient to handle such a sensitive information they are asking for bitcoin payouts. Identity theft is a serious problem, especially online. What if dan servers will be hacked someday...

Outcome? Less business to DAN and to the customers. It is unfortunate.

@LaszloSchenk what do you think?

 

[ecomslice]

look up coinbase this week and handing over all user info to the uk for tax man.

crypto is now of no interest to me if dan and others follow suit.

 

[LaszloSchenk]

Indeed, DAN has no reasons to trust each and every customer by default, as there is a lot of shady stuff, stolen domains, etc.

Similarly, the customers have no reasons to trust that the security of all DAN (or any other marketplace) systems is, and will always be sufficient to handle such a sensitive information they are asking for bitcoin payouts. Identity theft is a serious problem, especially online. What if dan servers will be hacked someday...

Outcome? Less business to DAN and to the customers. It is unfortunate.

@LaszloSchenk what do you think?

Good morning @tonyk2000,

In the most ideal world, we would not require such identity verifications. Unfortunately, we do have to cope with a lot of grey areas within this industry and are forced to do so. If we want to make sure our users are completely covered while using our platform we need to impose some securities to guarantee that.

We want to offer our users the flexibility of being able to pay or received BTC payouts. In turn, we only require our users to provide some credentials proving legitimacy merely once.

Of course, with bank transfer payouts the documentation is not required as one's bank account already is based on their verified details. The payout source is traceable and one can say KYC already is performed before the account could be created.

Companies have to cope with increased crypto regulations and restrictions and we simply have to cope with that if we want to keep offering this payment/payout option. If you do not feel comfortable with providing these documents, we will not force you. However, if you want to receive BTC as a payout method it, unfortunately, is required.

Best regards,

 

[tonyk2000]

As a matter of fact, if a bad guy wants to pass this verification - he probably will:

Again, there are no guarantees that real docs / photos of genuine domainers would be always safe with dan servers. Identity theft is a big worldwide problem. So, the solution might be: common sense. Is somebody selling 3 letter com regged with netsol, and he is not an original registrant (whois history)? This alone is a red flag, with or without photo verification. Most of dan customers are genuine domainers, aren't they? So, a simplier solution would be to apply common sense. And, to do what you are required as per government regulations. Such as receiving w8/w9 forms ( in case of U.S. based marketplaces), or anything similar in Netherlands (if applicable). Anything extra? No, unless the law so requires... Imo.

 

[CDM]

Hey,
I've sold a name on DNWE (processed through DAN.com), and this is what I received :

Hi there,

If you wish to receive a BTC payout we will need you to send the below details to [email protected]:

- A copy of a Government-issued ID/Passport

- A recent utility bill which confirms your address

An image of you holding your ID/Passport

Mention the domain name of your sale and your own name in the title of the email.

Do note that you will only have to perform this verification once, so we won’t bother you with this again.

Please notify us once you’ve sent the details.

Thank you!




I've selected Bitcoin payout FOR EXACTLY THESE REASONS - TO KEEP PRIVACY. I would understand the request if it was a bank payment, but I've selected cryptocurrency exactly to avoid dealing with this crap.

This is freaking ridiculous... Isn't it?

KYC is disgusting. Terrorists be like, "we tryin' to fight terrorism!" Bitcoin was invented because government bureaucrats willfully destroy the economic welfare of their citizens through rampant money printing/inflation, taxation, confiscation, and corporate bailouts (cronyism). They get away with it because they have a monopoly on the use of force/violence, and generally no one who has something to lose is willing to stand up to them, and because people tend to worship the State, like a cult it's very difficult to deprogram the masses that government is not your friend. They claim to fight terrorism while committing terrorism (dropping bombs on innocent civilians daily), claim to fight money laundering while they aid and abet private central banks to create 'money' from nothing through the fractional reserve system and usury, they claim to protect the rights of their citizens when they are the first ones to strip you of your rights if you defy their decrees which in reality are just the arbitrary opinions of a handful of people (congress, parliament, etc) who are no better than you or I (and in some cases far worse). Really, KYC is disgusting.