Hey y’all, help me understand something. If me and my friend have KYC sats, can’t we just clear the KYC by selling to each other for USD? Like I buy 0.1 BTC from him for USD, and he does the same to me. To fresh wallets. And pay whatever capital gains or loss taxes, obviously. But at that point, the privately purchased sats are KYC free, no?
Discussion
You can even scale that by coinjoining with whirlpool but that is only going to tackle forward privacy.
The KYC bitcoin you bought is still on a list forever regardless of what you do later.
The point of #kyc is not to make sense. (The fact that they are asking for “electricity bill” clearly shows this). The point of kyc is to increase the burden of using #crypto and to keep away small investors who would benefit most.
This come to the benefit of large player for whom the additional cost induced by kyc is comparatively negligible
You need a fresh start to be totally KYC-free.
(1) Sell your "KYC'd to your identity" coins or just keep them separately
(2) Buy some "non-KYC'd to your identity" coins for cash / amazon gift cards / azteco vouchers to be able to pay your initial security deposit at Bisq
(3) Start purchasing at Bisq
(4) Withdraw from Bisq to your clean "non-KYC'd to your identity" wallet via coinjoin
Ya I don’t understand how this is different from:
1) Sell KYCd to my identity coins
2) Buy non-KYCd to my identity coins from a private party for cash
That’s it. Why involve bisq?