Replying to Avatar btconboard #LNHANCE or #CTV

Quick summary: onchain it’s usually fairly easy to see which KYC exchange your sats came from and only gets easier to identify you if you combine say sats from Coinbase at XYZ time with from Kraken at ABC time. Then you become trivial to track, know how much coin you have, etc. Up to you to decide what that means for you. If you’re law abiding, pay taxes, and live in a stable country it probably means nothing. In Mandibles the government or a robber could show up at your door and point a gun at you and demand your sats knowing exactly how much you have and at least high level probably vaguely how it’s stored.
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₿ujuX 1y ago

When you say it like that - makes ton of sense like that. I thought people were more concerned that their transaction were accessible to the public. I like staying paranoid so ya this is important..

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btconboard #LNHANCE or #CTV 1y ago

Maybe an example of what they could mean is the unspent change output when making a transaction. Extreme example: if you’re an OG with 100 BTC and it’s all in one UTXO, you buy some swag online and give them your home physical address for shipping, they now see you have $10M and could show up to your door with a gun. There’s many ways this can go sideways. Just one example.