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Some people celebrate that more and more banks are offering Bitcoin services, but it's not the same. You lose important characteristics of Bitcoin, such as permissionlessness.

Not only do banks, as state-regulated institutions, require full KYC, but the wallet you have there does not belong to you. And if you want to transfer your BTC assets from there to a self-custodied wallet, your transaction is still subject to scrutiny by the bank. For example, I wanted to transfer Sats worth only $8, and the bank promised a transfer time of about 60 minutes. Due to their 'internal review,' the entire process took over 48 hours. And the self-custodied wallet you transfer to is also doxxed through the KYC.

So it's best to forget about buying Bitcoin through banks; they are absolutely not suitable for that. Anonymous P2P, into self-custody, is still the best option.

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Discussion

The Judge قاضي কাজি 1y ago

What computer or OS do I start on? I am reluctant to use Windows or Mac.. i think there is trackers and malware

alp 1y ago

Linux. Take an easy distribution like Ubuntu or Mint.

The Judge قاضي কাজি 1y ago

So reconfigure an old windows into Linux? Would that be good for starters.. or get a new laptop.. not the latest one, but something a year old?

alp 1y ago

You can install almost every Linux as dual-boot together with Windows. Ubuntu-based distros offer an option at setup to choose this. So you can keep your existing Windows installation. Then you get a boot menu where you can decide whether you want to boot into Linux or Windows at the start of your machine.

Every hardware is suitable for Linux. One year old is nothing, still considered new.

Olive Grove Eggs 1y ago

Wrong button. The banks are sheep in a wolf's clothing. Somehow need to up the education levels so people grasp that BTC is not just savings, but private personal under-your-own-control savings.

I'm setting up a site that is going to (subtly) hammer home the self custody, self sovereign message. It's not about being some sort of shady stick it to the state anon, but coming at it as a normal human being who understands we all have a god given right to not hand over the fruits of our labour, our energy to some wanker in a suit who tells you they know better than you.

They did know better than most of us when it came to investing, because they put the time in to trying to navigate a deliberately arcane rigged system. . But now they cant play that card because the curtain has been pulled back and there is no merit in what they were better versed in.

We just need to get your fiat swapped into Bitcoin and then figure it out from there, with time on our hands and on our own terms. Its not radical is it. Youdont ask a banker for permission to eat your dinner. So it is weird how we accept that the banks have made themselves the arbiter of what we do with the means to buy our dinner Ommmmmm :)