Subnostr

This is where what I do is different then what I say is right 😂. I buy all my btc kyc and coin join before it touches cold storage. It’s convenient and works for me. Hope it won’t bite me in the ass in the future.

boston wine 2y ago

Interesting approach! I have so many questions lol

- Have any of the KYC’d exchanges ever given you a hard time for sending sats to a coinjoin? Or do you send it to a hot wallet and give it a hop or two first?

- Since “you” are still KYC’d as owning X amount of Bitcoin, this approach still puts you at risk with regard to any authoritarian 6102-style Bitcoin confiscation event, or a potential “one-time, unrealized taxable gains” situation. Do you look at these possibilities as “time to move to another jurisdiction”?

- Have you explored RoboSats or any of the escrowed non-kyc services?

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Discussion

nobody 2y ago

👀👀👀👀 Or do you send it to a hot wallet and give it a hop or two first?⚡️⚡️

boston wine 2y ago

How would you handle an overly-invasive tax scenario here?

“We assume you still own all the Bitcoin that is associated with your identity, and if it has moved from your own address, you must pay capital gains tax”…. or an unfriendly letter like that?

nobody 2y ago

Legally or move to a friendly BTC state/jurisdiction/country.

Bring it on. BTC will find a way and the places that open their arms to BTC will WIN.

Silk Road & Ross should be enough of a warning shot which is exactly what it is. Poor guy is the example. IMO.

El Salvador seems nice. Mexico could come around too.

Who knows. I don’t think they pull a 6102 in our lifetime or the next.

ben 2y ago

Yep the incentives are there for the places that are open to bitcoin. Logically why would they go that far to push people away from the country? Governments are made up of people.

boston wine 2y ago

Great points. Bullish ones 🤙

ben 2y ago

-No exchanges don’t care for the time being. I sometimes send to a hot wallet or send directly to wasabi wallet and it conjoins by itself which is nice.

-unfortunately already lost the keys to my bitcoin so they would be unable to force me to pay capital gains right?

-have not looked at robosats yet but I heard about bull bitcoin where you just mail cash to them. Feels very shady and not convenient at all but I might try it.

-I would hate to leave where I currently live only because of family. If I had to leave because I am a slave to the government then I would. Things would have to get really bad.

boston wine 2y ago

Solid answers. I haven’t tried Bull Bitcoin but I agree, I’d be hesitant to mail cash (though my understanding is that it used to be a pretty common way to buy 🌽)…

RoboSats (or bisq or hodl hodl) would definitely be worth looking into. Convenient, private, and secure — the bond + escrow function seems to do a good job keeping scammers out. RS uses Lightning which is sweet, although their node was having issues last week so maybe give it a few days before testing, to make sure it’s all resolved.

Keel 2y ago

Lost your keys ? The gov will laugh and charge you a capital gains tax.

The bitcoin purchased by you at a KYC exchange stay connected to your ID forever.

nobody 2y ago

Can’t wait to see what they do to you my fren. Good luck.

I’ve also done all I can to “wash” my corn & continue to do so but still don’t think that will help me avoid the government. I’ve also mined my own corn but think they will figure that out too.

There’s a long history of people who have unsuccessfully avoided the government rules, assuming they aren’t smart enough to figure it out. We will see.

I’m as antigov/anti state as it gets. It would surprise you honestly.