How you are going to deal with it nostr:npub1w8rrew9yye3lla4hr5uuh7zx9he6qu2rd55hwx9ctyyp0rjqz45q9ch663 nostr:npub1pyzvmpujlpcy9whydlcay3gkm02wu0flehua3afdwqt22yqt33cqe6k0h8 ?
Kyc sats I bought in the past and that wallet is ofcourse compromised and I will keep doing that for small occasional dip buying
Most of my dca is through non kyc trades with friends I have
Also what I’m thinking of is what about Strike. What if I buy there kyc sats but send it with lightning.. pretty hard to track them
Either way I’m not “that” scared about kyc sats. I understand a lot of people’s feelings about it but as long as I can hold my own keys in my brain… Come tax those
Absolutely agree. As long as your KYC stack is much smaller than your non KYC stack, why bother. Let them enjoy doing a satoshi test on your 50k KYC sats 🙃
Also who the hell knows what happens to your sats when you send them via LN/Liquid/Arc. Right? 😉😉😉 My understanding that they get lost forever 😉😉😉 Bitcoin is notoriously a scam and all these different second layers are just another type of scam where your sats get stolen 😉😉😉
In the end I don’t think long term hodlers who self custody need to be scared of these absurd laws
Just have patience and move one day to a better jurisdiction and borrow against your stack
What kind of friends do you have that regularly sell the most scarce thing on earth to you?
Yes, the lightning way is definitely a good workaround.
Some plebs are afraid the „come tax those“ approach will not work when the government taxes you for the sats they know you gained ownership regardless if you still have them. They could enforce the law on your hypothetical holdings.
Haha I’d rather not disclose them but you can find a lot of people who are willing to sell at meetups
And I don’t agree with the last point/argument. If you live in a fair judiciary system they’ll have to prove you still have them. And again, just move to a sunny place where you can buy stuff with bitcoin
The higher the price goes, the more stuff you can buy with it
The fact you can store your wealth in your head gives a great amount of peace of mind in this regard 😌
Indeed brother
But I feel your thoughts
I often panic a bit over the fact that you probably will not be able to cash out big chunks of non kyc bitcoin through the traditional route (exchange to bank account) as you’ll have to disclose when and how you bought them and that will get extremely difficult with explaining it’s not money laundering
But hey, if we’ll have those problems it means Bitcoin is crazy high in dollar terms
I encourage my European friends not to comply with tyrannical regulations. Their ignorance and blunt approach will not last 4 more years. The EU is toast…accelerate the demise with peaceful, non-compliance.
Live free. TGFB.
Yeah, i remember someone here posted about his nightmare of sending and selling btc via a kyc exchange in order to buy a house pr do some renovation. I only can imagine the sleepless nights while the bank or exch freezes your 6 or 7 digit fiat amount to go through all proof of funds stuff 😱
Indeed that’s my fear
But hey, let’s move to El Salvador
At least we have some nostrich friends to invite to join us 💪🫂
We should make a list how to cash out bitcoin in alternative ways 🤣
As someone mentioned bitrefill for small amounts and btc backed loans for bigger amounts are two possible ways atm
Buy luxury watches with it and trade them for cash afterwards
Buy gold bars/coins with a bullion shop that accepts bitcoin and sell them for cash afterwards (tax free)
Isn’t there also an official cash limit in the eu? I think it was 10,000€
Yep but who cares
The politicians often get caught with 100,000€ in cash and gold bars in there house 🤣🤣🤣🤣🤣
Bitcoin fixes that
Be careful with luxury watches. Selling them has gotten rather annoying since the fakes have gotten this good. You'll have difficulty finding buyers who won't demand an inspection of the movement at a local dealer who wants to get compensated as well.
In italy the AdE (agenzia delle entrate) can give you sanctions if you owned kyc bitcoin but now they are "officially" no longer yours.
The main rule is that you have to prove yourself not guilty, which translate to "guilty until proven otherwise".
So how do you legally prove that you've lost your bitcoins on a boating accident or they got stolen by somebody?
A possible outcome is you still have to pay the fine if unable to prove it.
