How do you buy KYC-free bitcoin? If you use sources like Bisq or Robosats you wouldn’t know if you are buying KYC-free bitcoin or not. The only hope is to mine your own bitcoin, which is not easy. Unless I’m missing something, then please explain?
Discussion
I will not let perfect be the enemy of good.
I have issues with buying and selling Bitcoin while explicitly tying your government identity to that transaction through a centralised entity, that will share all details with any government entity that enquires. Those records will be stored indefinitely and easily hacked in the future.
If you can buy or sell Bitcoin without handing over your ID then you've bought KYC-free.
So if 3 people were to zap 100 sats to the person on their left, then the KYC falls off for all 3 of them right?
If no ID collection is performed, then the transaction is KYC-free.
Take care if you sell to a peer from your KYC stack. You could be accumulating a bitcoin denominated tax liability depending on your jurisdiction.
If you are relying on KYC'd custodial Lightning then your zaps are less free.
What’s the best wallet for lightning?
I'm not a Lightning expert. Everything will have trade offs.
Wallet of Satoshi
Pos: Best UI/UX and as of yet no KYC
Neg: custodial (no privacy from custodians) and pulled from US App Stores
Phoenix
Pos: Pretty good UI/UX, no KYC, self-custody, can use own Electrum server, can use Tor, Splicing
Neg: expensive (min 0.4%), pulled from US App Stores, limited privacy from LSP
Zeus with Olympus
Pos: good ui/ux, no KYC, self-custody
Neg: limited privacy from LSP
Zeus with Own Node
Pos: absolute sovereignty
Neg: managing your own lightning node and channels
I have a feeling the words “Pulled from US App Stores” could become a common theme for self-sovereign Bitcoiners. We need decentralized mobile devices with decentralized App Store!