Replying to Avatar Mark Camper

That is fair.

I don't mean to scream and shout. It just comes across that way in notes.

I just see strong and potentially scary tradeoffs in being transparently open with the governments about all your transactions. The commies have looted my family once. I owe it to them to not sleepwalk into the same trap ever again.
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BitcoinStu 1y ago

Hey I don't blame you. There is no love lost between me and the state. And let me say that a small stack of non-kyc bitcoin that the government doesn't know about might be a worthwhile venture. But I am not a small holder and putting generational wealth outside their view is really fucking dangerous.

For example, I am planning to buy some property next year. If all my bitcoin was acquired without KYC then not only would I be unable to show a cost-basis to the IRS, and therefore be subject to a 0-basis taxation event (costing me 10's of thousands of dollars, or more) but it would also trigger a bunch of red flags with several government agencies that I would prefer not become interested in where I got my Bitcoin.

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Mark Camper 1y ago

Makes sense.

It's just not really the maximum vision that I see in the Bitcoin project.

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BitcoinStu 1y ago

Don't mistake your fantasies about the future for the reality of you and your family's situation in the present.

If Bitcoin does what we all hope, it will do it without me having non-kyc bitcoin. I am not going to endanger my family just for some idealistic idea about the state not having the right to fuck me.