If I want to half ass my way through privacy, could I just buy on an exchange, send to my primal wallet, do an LN trade to my self custody lightning wallet, and then transfer on chain from there to my cold storage?
Discussion
depending on jurisdiction, once u buy KYC on an exchange then u are liable for taxation on gains and cost basis tracking is tough on LN.
if that does not apply to u, then UTXO ownership identification and traceability would be difficult for an adversary through what you described.
KYC Exchange
KYC Primal
Wat privacy.
Well the ln transaction from primal to my other wallet would help anonymize the transaction, right? Especially if I do LN from the exchange to primal first
Anonymize away from who's eyes?
Primal now has your BTC address.
Well I know primal is compromised. I would do an LN transaction to an uncompromised wallet
Make your life simpler, why the dedication to primal?
It’s easy to use, and it is the only client I use (because Damus is shit). I have a self custody lightning wallet for actually buying things
Then you don't need primal brah just receive to that LN wallet
iPhone is shit not damus
It’s for zaps. My other wallet can’t receive zaps. I wish iPhone was open, but dude Android is absolute garbage. Overheating bullshit, randomly disconnecting, etc.
I have a rooted pixel 6 pro too, but my iPhone is miles better
I never had those problems with high-end phones. Pixels are especially great. Run smoothly, support Graphene and if you don't choose Graphene you still have years of updates from Google.
My pixel 6 pro is the one with all the problems. I’ve heard the newer ones are better, but the gen 1 tensor chips were garbage
You must transfer from a payee-oblivious wallet. The only mobile one I know of is Breez. For non-mobile, just setup your node.
What if I buy the BTC at a btc atm?
Then you don't need Robosats until you want to sell
Better off buying off robosats too, ATMs always have insanely high (fees and or spread). That’s why I have always avoided ATMs
Not to mention most ATMs nowadays, ask for your ID no matter what amount you're buying.
If they do there is zero benefit to using ATM if your gonna be KYCd better off at least getting lower fees.
I don't know what jurisdiction you're in, but I'm in the west coast of the US, and for the longest time, the coinos ATMs, I have one by my house, never asked for ID until one day I got hit with shotgun KYC.
It was a sad day because that was a good place for me to get some quick cash or convert cash into Bitcoin if I needed it.
That is lame as hell
I’ve only ever bought on a couple times on ATMs but stopped because the fees were insane but was no KYC
I've always considered the fees on bisq or Robosats or whatever platform I'm buying no KYC Bitcoin to be the actual price of Bitcoin or the "freedom price".
shitty way of phrasing it and I know the goal is to get the most sats per dollar but......Something, something freedom aint free.
The privacy is worth it. The price will go up anyway.
There's an old joke: you save 3% on privacy to spend 20% on taxes.
I use robosats instead
Doesn't it require bank account?
I use nostr:nprofile1qqsd54k9fd0xwjwkttgr3svkg7reftu5una95nhacg95nxq7fmzkdscppemhxue69uhkummn9ekx7mp0z349js with cash to avoid any trace.
Depends on where you live. There are still non-KYC ATMs.
That's one of the best ways if it doesn't require KYC. I definitelly recommend!