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Don't give into the non-KYC scaremongering.

There is no exit plan.

Bitcoin IS the exit plan. #[2]

I follow all of your points and those from the others that you should buy non KYC but I have one thought about it I want to ask all of you.

Let’s be honest and majority of people who will buy Bitcoin, would want to sell some in the future if it’s a high price. I’m talking about less maxi people and who don’t realize the future. So let’s say they buy non KYC and want to sell in a few years. They can never get fiat back because of AML regulations because it’s very difficult to prove where the ‘money’ came from.

Thoughts?

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Discussion

sommerfeld 2y ago

Don't buy bitcoin unless you want to separate money and state. Buy stocks if you want KYC'd NgU.

Humble Bitcoiner 2y ago

Bitcoin is my exit strategy but I just don’t agree with your point.

So if you don’t want to exit fiat forever, Bitcoin is not for you?

sommerfeld 2y ago

You're over simplifying. I sell bitcoin for fiat all the time. Just not though exchanges.

It's about asking permission and having your ID forever on a list.

Humble Bitcoiner 2y ago

But how about if you stack non KYC Bitcoin. Sell it for fiat. Will you Bank accept that? They need to know where the money came from? Isn’t that very difficult to prove? Just a thought 💭

sommerfeld 2y ago

Depends on the amount. How much fiat do you really need? I just need enough for day-to-day.

Humble Bitcoiner 2y ago

Okay fair point! Let’s say you keep converting small amounts and nobody notices it. Let’s say somebody hodled Bitcoin a decade and wanted to use it to buy a home. How could he convert it back to fiat without problems

sommerfeld 2y ago

Right now, you don't. Buy a house directly with bitcoin, it's already possible with some countries.

Another strategy is just selling 2000 USD per month for 5 years and then buy a house or use it for a mortgage. It takes but sovereignty is not easy and requires commitment.

orangedog 2y ago

if my nation of residence blocks my purchase of real estate with bitcoin, then:

1. not enough time has passed

2. let’s buy property in a jurisdiction with friendlier attitudes

Humble Bitcoiner 2y ago

Fair point

Humble Bitcoiner 2y ago

Good insights! Thanks for sharing, appreciate it

joshM 2y ago

My bank still takes cash. Not a issue there. Your CPA might want to know though

Humble Bitcoiner 2y ago

Mine doesn’t 😅

CB 2y ago

Perhaps the price premium of NonKYC and KYC is the battle line showing where society’s sovereignty sits. Any premium in any direction proves friction.

I feel like friction (premium) is evidence of despotism, or at the very least central planning creating a market where none should exist.

GoldenSun777 2y ago

Peer2Peer Regulates 😉