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growing up i was taught monkeys at the zoo were originally caught using the "banana trick"

whereby a trapper would place banana in a small cage, large enough for a free, wild monkey to see the banana and put their hand in to grab its prize... but small enough the monkey can't pull it's hand out whole also holding the banana

the monkey could easily let go of the banana and leave free, but they had to let go and they didnt want to

so it would stand there trying every which way to get it's hand and the banana out, giving the trapper time and distraction enough to walk right up and grab the monkey for good

whether that's true or not, that's how bitcoin privacy feels, imo.

we spend all this time and energy hyper focused on getting onchain privacy using only bitcoin. we chain ourselves to axioms like BITCOIN ONLY EVER instead of letting go and using a multi chain approach to get what we want - freedom and a god damned banana.

i dont get it.

#Bitcoin

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Discussion

BitcoinStu 1y ago

there is no other secure network, so a multichain approach provides nothing

zhenya 1y ago

not even for a hop? really?

BitcoinStu 1y ago

You're not going to get privacy and censorship resistance from a proof of stake network.

SnOoZ 1y ago

What chains?

Why would I risk putting my Bitcoin on other chains which are not as safe as Bitcoin?

The problem is trying to get privacy after getting Bitcoin eg through KYC. And it does not matter what you do after this. You cannot hide because there's this record of you buying Bitcoin.

The government won't come to you and ask for your Bitcoin holdings and walking away again after you tell them you lost your BTC in a boat accident.

They will put a tax on unrealized profits and then you have to pay and they will calculate your KYC Bitcoin as a basis.

They will get from you what they want if you left footprints from beginning.

The only solution I see right now is to make it right from beginning.

You sell all your KYC Bitcoin over time to avoid taxes if possible in your country and buy BTC with cash. For example you buy physical amazon cards and sell them for Bitcoin for example on robosats. No one knows that you have Bitcoin then.

Bitcoin is decentralized, so don't buy Bitcoin on centralized exchanges. And only in cash.

If you make a bank transfer and if the person you send money has to disclose his transactions to authority, your name will be listed. So you would be the next one.

In the end this won't work for the masses. But the Bitcoin OGs can hold safely their invisible Bitcoins until some Time when the trojan horse plays out and bitcoin wins and they can use their bitcoin for whatever they want because the government collapsed and a new Bitcoin based Government is established. Or whatever happens after that Fiat shit show collapses.

Dawai 🔥